Debt to Equity
since 2006
Calculation
GameStop Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Feb 3, 2024 | 0.02 | = | 28,500) | ÷ | 1,338,600) |
| Jan 28, 2023 | 0.03 | = | 39,500) | ÷ | 1,322,300) |
| Jan 29, 2022 | 0.03 | = | 44,600) | ÷ | 1,602,500) |
| Jan 30, 2021 | 0.83 | = | 362,700) | ÷ | 436,700) |
| Feb 1, 2020 | 0.69 | = | 419,800) | ÷ | 611,500) |
| Feb 2, 2019 | 0.61 | = | 820,800) | ÷ | 1,336,200) |
| Feb 3, 2018 | 0.37 | = | 817,900) | ÷ | 2,214,500) |
| Jan 28, 2017 | 0.36 | = | 815,000) | ÷ | 2,254,100) |
| Jan 30, 2016 | 0.17 | = | 350,400) | ÷ | 2,081,000) |
| Jan 31, 2015 | 0.17 | = | 355,700) | ÷ | 2,067,700) |
| Feb 1, 2014 | 0.00 | = | 4,000) | ÷ | 2,251,400) |
| Feb 2, 2013 | 0.00 | = | —) | ÷ | 2,286,300) |
| Jan 28, 2012 | 0.00 | = | —) | ÷ | 3,042,100) |
| Jan 29, 2011 | 0.09 | = | 249,000) | ÷ | 2,897,300) |
| Jan 30, 2010 | 0.16 | = | 447,343) | ÷ | 2,723,157) |
| Jan 31, 2009 | 0.24 | = | 545,712) | ÷ | 2,299,681) |
| Feb 2, 2008 | 0.31 | = | 574,473) | ÷ | 1,862,446) |
| Feb 3, 2007 | 0.62 | = | 855,899) | ÷ | 1,375,878) |
| Jan 28, 2006 | 0.88 | = | 975,990) | ÷ | 1,114,713) |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28).
1 US$ in thousands
The capital structure of the organization has undergone several distinct phases of leverage management and equity volatility from 2006 to 2024, transitioning from a moderately leveraged position to a near-zero debt state.
- Initial Deleveraging Phase (2006–2011)
- A consistent downward trend in leverage is observed during this period. Total debt decreased from 975,990 thousand US dollars in 2006 to 249,000 thousand US dollars by 2011. Simultaneously, stockholders' equity grew from 1,114,713 thousand US dollars to a peak of 2,897,300 thousand US dollars. Consequently, the debt-to-equity ratio declined sharply from 0.88 to 0.09, indicating a significant shift toward equity-based financing.
- Mid-Term Stability and Re-leveraging (2012–2019)
- Following the initial decline, the organization experienced a period of fluctuating leverage. After hitting a nominal debt level of 4,000 thousand US dollars in 2014, total debt increased steadily, reaching 820,800 thousand US dollars by 2019. During the latter half of this period, stockholders' equity began a marked decline, falling from 2,254,100 thousand US dollars in 2017 to 1,336,200 thousand US dollars in 2019. This combined effect resulted in the debt-to-equity ratio rising from 0.00 in 2014 to 0.61 in 2019.
- Peak Leverage and Equity Erosion (2020–2021)
- The most significant stress on the capital structure occurred between 2020 and 2021. Stockholders' equity reached its lowest point in the analyzed period at 436,700 thousand US dollars in 2021. Although total debt was decreasing from its 2019 peak, the rapid erosion of equity drove the debt-to-equity ratio to its highest level in over a decade, peaking at 0.83 in 2021.
- Aggressive Debt Reduction and Equity Recovery (2022–2024)
- A drastic transformation in the balance sheet is evident starting in 2022. Total debt was aggressively reduced from 362,700 thousand US dollars in 2021 to 28,500 thousand US dollars by 2024. Concurrently, stockholders' equity recovered significantly, rising to 1,338,600 thousand US dollars. This shift resulted in a near-elimination of leverage, with the debt-to-equity ratio falling to 0.02 by February 3, 2024.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Comparison to Competitors
GameStop Corp., debt to equity, long-term trends, comparison to competitors
| GameStop Corp. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Feb 3, 2024 | 0.02 | 0.18 | 42.25 | — | 0.39 |
| Jan 28, 2023 | 0.03 | 0.29 | 27.65 | — | 0.53 |
| Jan 29, 2022 | 0.03 | 0.46 | — | — | 0.56 |
| Jan 30, 2021 | 0.83 | 0.35 | 11.29 | 15.16 | 1.04 |
| Feb 1, 2020 | 0.69 | 0.34 | — | 9.79 | 0.38 |
| Feb 2, 2019 | 0.61 | 0.38 | — | 4.45 | 0.44 |
| Feb 3, 2018 | 0.37 | 0.54 | 18.59 | 2.89 | 0.43 |
| Jan 28, 2017 | 0.36 | 0.89 | 5.45 | 2.44 | 0.49 |
| Jan 30, 2016 | 0.17 | 0.40 | 3.37 | 1.65 | 0.38 |
| Jan 31, 2015 | 0.17 | 0.62 | 1.84 | 1.14 | 0.38 |
| Feb 1, 2014 | 0.00 | 0.77 | 1.18 | 0.89 | 0.30 |
| Feb 2, 2013 | 0.00 | 0.33 | 0.61 | 0.66 | 0.21 |
| Jan 28, 2012 | 0.00 | 0.38 | 0.60 | 0.46 | 0.25 |
| Jan 29, 2011 | 0.09 | 0.03 | 0.52 | 0.36 | 0.25 |
| Jan 30, 2010 | 0.16 | 0.03 | 0.50 | 0.27 | 0.27 |
| Jan 31, 2009 | 0.24 | 0.02 | 0.64 | 0.34 | 0.36 |
| Feb 2, 2008 | 0.31 | 0.15 | 0.76 | 0.41 | 0.40 |
| Feb 3, 2007 | 0.62 | 1.07 | 0.47 | 0.28 | 0.35 |
| Jan 28, 2006 | 0.88 | 2.89 | 0.15 | 0.25 | 0.43 |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
GameStop Corp., debt to equity, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| GameStop Corp. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Feb 3, 2024 | 0.02 | 0.49 |
| Jan 28, 2023 | 0.03 | 0.71 |
| Jan 29, 2022 | 0.03 | 0.93 |
| Jan 30, 2021 | 0.83 | 0.77 |
| Feb 1, 2020 | 0.69 | 0.86 |
| Feb 2, 2019 | 0.61 | 1.03 |
| Feb 3, 2018 | 0.37 | 1.24 |
| Jan 28, 2017 | 0.36 | 1.54 |
| Jan 30, 2016 | 0.17 | 1.15 |
| Jan 31, 2015 | 0.17 | 1.04 |
| Feb 1, 2014 | 0.00 | 0.88 |
| Feb 2, 2013 | 0.00 | 0.53 |
| Jan 28, 2012 | 0.00 | 0.49 |
| Jan 29, 2011 | 0.09 | 0.36 |
| Jan 30, 2010 | 0.16 | 0.33 |
| Jan 31, 2009 | 0.24 | 0.43 |
| Feb 2, 2008 | 0.31 | 0.55 |
| Feb 3, 2007 | 0.62 | 0.41 |
| Jan 28, 2006 | 0.88 | 0.22 |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28).
Comparison to Industry (Consumer Discretionary)
GameStop Corp., debt to equity, long-term trends, comparison to industry (consumer discretionary)
| GameStop Corp. | Consumer Discretionary | |
|---|---|---|
| Feb 3, 2024 | 0.02 | 1.06 |
| Jan 28, 2023 | 0.03 | 1.28 |
| Jan 29, 2022 | 0.03 | 1.44 |
| Jan 30, 2021 | 0.83 | 1.41 |
| Feb 1, 2020 | 0.69 | 2.17 |
| Feb 2, 2019 | 0.61 | 2.60 |
| Feb 3, 2018 | 0.37 | 2.59 |
| Jan 28, 2017 | 0.36 | 2.55 |
| Jan 30, 2016 | 0.17 | 2.21 |
| Jan 31, 2015 | 0.17 | 1.88 |
| Feb 1, 2014 | 0.00 | 1.60 |
| Feb 2, 2013 | 0.00 | 1.25 |
| Jan 28, 2012 | 0.00 | 1.19 |
| Jan 29, 2011 | 0.09 | 1.09 |
| Jan 30, 2010 | 0.16 | 1.26 |
| Jan 31, 2009 | 0.24 | 2.58 |
| Feb 2, 2008 | 0.31 | 4.06 |
| Feb 3, 2007 | 0.62 | 2.62 |
| Jan 28, 2006 | 0.88 | 2.96 |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28).