Price to Operating Profit (P/OP)
since 2006
Calculation
GameStop Corp., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating earnings (loss)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 26, 2024 | — | = | 15.50 | ÷ | -0.11 | -0.11 | = | -34,500 | ÷ | 305,873,200 | |
| Mar 28, 2023 | — | = | 23.15 | ÷ | -1.02 | -1.02 | = | -311,600 | ÷ | 304,675,439 | |
| Mar 17, 2022 | — | = | 21.93 | ÷ | -1.21 | -1.21 | = | -368,500 | ÷ | 305,356,992 | |
| Mar 23, 2021 | — | = | 45.44 | ÷ | -0.85 | -0.85 | = | -237,800 | ÷ | 279,743,312 | |
| Mar 27, 2020 | — | = | 1.06 | ÷ | -1.55 | -1.55 | = | -399,600 | ÷ | 257,831,968 | |
| Apr 2, 2019 | — | = | 2.53 | ÷ | -1.72 | -1.72 | = | -702,000 | ÷ | 409,069,740 | |
| Apr 2, 2018 | 9.62 | = | 3.21 | ÷ | 0.33 | 0.33 | = | 135,600 | ÷ | 406,333,276 | |
| Mar 27, 2017 | 3.78 | = | 5.21 | ÷ | 1.38 | 1.38 | = | 557,700 | ÷ | 404,843,424 | |
| Mar 28, 2016 | 4.82 | = | 7.52 | ÷ | 1.56 | 1.56 | = | 648,200 | ÷ | 415,503,088 | |
| Mar 30, 2015 | 6.57 | = | 9.42 | ÷ | 1.43 | 1.43 | = | 618,300 | ÷ | 431,074,852 | |
| Apr 2, 2014 | 8.72 | = | 10.84 | ÷ | 1.24 | 1.24 | = | 573,500 | ÷ | 461,223,708 | |
| Apr 3, 2013 | — | = | 7.56 | ÷ | -0.09 | -0.09 | = | -41,600 | ÷ | 471,345,104 | |
| Mar 27, 2012 | 5.59 | = | 5.94 | ÷ | 1.06 | 1.06 | = | 569,900 | ÷ | 535,923,784 | |
| Mar 30, 2011 | 4.81 | = | 5.66 | ÷ | 1.18 | 1.18 | = | 662,600 | ÷ | 562,801,572 | |
| Mar 30, 2010 | 5.24 | = | 5.46 | ÷ | 1.04 | 1.04 | = | 637,033 | ÷ | 611,296,400 | |
| Apr 1, 2009 | 6.87 | = | 7.05 | ÷ | 1.03 | 1.03 | = | 675,119 | ÷ | 658,047,952 | |
| Apr 2, 2008 | 17.96 | = | 13.92 | ÷ | 0.78 | 0.78 | = | 501,421 | ÷ | 646,834,832 | |
| Apr 4, 2007 | 15.09 | = | 8.25 | ÷ | 0.55 | 0.55 | = | 333,679 | ÷ | 610,309,448 | |
| Apr 3, 2006 | 17.66 | = | 5.81 | ÷ | 0.33 | 0.33 | = | 192,732 | ÷ | 585,674,360 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of GameStop Corp. Annual Report.
- Share Price Trends
- The share price showed an overall increasing trend from 2006 to 2008, rising from $5.81 to a peak of $13.92. This was followed by a decline in 2009 to $7.05 and a generally fluctuating pattern through 2017, when it dropped to $3.21 in 2018 and further to $1.06 in 2020. A significant spike occurred in 2021, with the share price surging dramatically to $45.44, followed by declines over the next three years, settling at $15.50 in 2024. This indicates heightened volatility and a major event influencing the share price around 2021.
- Operating Profit per Share Trends
- The operating profit per share increased from $0.33 in 2006 to a high point of $1.56 in 2015, showing overall operational improvement. However, from 2013 onwards, there were signs of volatility and decline, including a sharp negative value of -$0.09 in 2013, a brief recovery to $1.24 in 2014, and then a steady decline to increasingly negative values after 2017, reaching -$1.72 in 2019. This trend remained negative through to 2024, although the magnitude of the losses lessened somewhat by 2024 to -$0.11.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio, reflecting the market valuation relative to operating profit, showed a declining trend from 17.66 in 2006 to a low of 3.78 in 2017, indicating a market perception of improving profitability or lower risk during that period. However, P/OP data is missing for years after 2017, coinciding with the period of negative operating profits. This absence likely reflects the difficulty in calculating meaningful valuation metrics during a period of losses.
- Overall Insight
- The data reveals a company that experienced growth in both share price and profitability through the early 2010s but faced operational difficulties leading to sustained losses from around 2018 onwards. The extreme share price peak in 2021 contrasts with declining operating profits, indicating possible speculative trading, market hype, or other factors unrelated to core operational performance during that period. The subsequent correction in share price and persistent negative operating profits through to 2024 suggest ongoing challenges in returning to profitability.
Comparison to Competitors
GameStop Corp., P/OP, long-term trends, comparison to competitors
| GameStop Corp. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | |
|---|---|---|---|---|
| Mar 26, 2024 | — | 35.40 | 17.32 | 12.58 |
| Mar 28, 2023 | — | 48.43 | 12.16 | 11.18 |
| Mar 17, 2022 | — | 86.50 | 14.22 | 12.45 |
| Mar 23, 2021 | — | 64.48 | 17.25 | 13.52 |
| Mar 27, 2020 | — | 72.85 | 12.33 | 8.11 |
| Apr 2, 2019 | — | 68.77 | 13.51 | 21.77 |
| Apr 2, 2018 | 9.62 | 64.31 | 13.82 | 10.61 |
| Mar 27, 2017 | 3.78 | 168.60 | 13.26 | 11.97 |
| Mar 28, 2016 | 4.82 | 94.32 | 13.88 | 13.66 |
| Mar 30, 2015 | 6.57 | 123.77 | 14.03 | 14.77 |
| Apr 2, 2014 | 8.72 | 925.12 | 11.86 | — |
| Apr 3, 2013 | — | 221.06 | 13.35 | — |
| Mar 27, 2012 | 5.59 | 183.43 | 11.36 | — |
| Mar 30, 2011 | 4.81 | 94.71 | 10.38 | — |
| Mar 30, 2010 | 5.24 | 54.92 | 11.50 | — |
| Apr 1, 2009 | 6.87 | 49.38 | 9.64 | — |
| Apr 2, 2008 | 17.96 | 29.93 | 6.82 | — |
| Apr 4, 2007 | 15.09 | 47.85 | 7.50 | — |
| Apr 3, 2006 | 17.66 | 43.07 | 9.71 | — |
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).