Selected Financial Data
since 2006
Income Statement
GameStop Corp., selected items from income statement, long-term trends
US$ in thousands
| 12 months ended: | Net sales | Operating earnings (loss) | Net income (loss) |
|---|---|---|---|
| Feb 3, 2024 | 5,272,800) | (34,500) | 6,700) |
| Jan 28, 2023 | 5,927,200) | (311,600) | (313,100) |
| Jan 29, 2022 | 6,010,700) | (368,500) | (381,300) |
| Jan 30, 2021 | 5,089,800) | (237,800) | (215,300) |
| Feb 1, 2020 | 6,466,000) | (399,600) | (470,900) |
| Feb 2, 2019 | 8,285,300) | (702,000) | (673,000) |
| Feb 3, 2018 | 9,224,600) | 135,600) | 34,700) |
| Jan 28, 2017 | 8,607,900) | 557,700) | 353,200) |
| Jan 30, 2016 | 9,363,800) | 648,200) | 402,800) |
| Jan 31, 2015 | 9,296,000) | 618,300) | 393,100) |
| Feb 1, 2014 | 9,039,500) | 573,500) | 354,200) |
| Feb 2, 2013 | 8,886,700) | (41,600) | (269,700) |
| Jan 28, 2012 | 9,550,500) | 569,900) | 339,900) |
| Jan 29, 2011 | 9,473,700) | 662,600) | 408,000) |
| Jan 30, 2010 | 9,077,997) | 637,033) | 377,265) |
| Jan 31, 2009 | 8,805,897) | 675,119) | 398,282) |
| Feb 2, 2008 | 7,093,962) | 501,421) | 288,291) |
| Feb 3, 2007 | 5,318,900) | 333,679) | 158,250) |
| Jan 28, 2006 | 3,091,783) | 192,732) | 100,784) |
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).
The financial trajectory of the entity from 2006 to 2024 is characterized by an initial period of aggressive expansion, followed by a prolonged phase of stagnation, and a subsequent period of significant contraction and operational restructuring.
- Revenue Trends
- Net sales experienced rapid growth between 2006 and 2012, increasing from approximately 3.09 billion USD to a peak of 9.55 billion USD. Following this peak, revenue entered a period of relative stability with minor fluctuations until 2017. A marked downward trend began in 2018, with sales declining steadily to 5.27 billion USD by 2024, representing a contraction of approximately 45% from the 2012 peak.
- Operating Performance
- Operating earnings grew consistently from 2006, peaking at 675.12 million USD in 2009. A volatile period followed, characterized by a brief operating loss in 2013, a recovery through 2016, and a sharp collapse starting in 2017. From 2018 to 2023, the entity operated at a consistent loss, with the most significant deficit occurring in 2019 at 702 million USD. However, a notable recovery in operational efficiency is evident by 2024, where the operating loss narrowed significantly to 34.5 million USD.
- Net Income and Profitability
- Net income patterns closely mirror operating earnings, showing strong profitability from 2006 through 2012. After a period of instability, net losses became systemic between 2019 and 2023, with the largest net loss of 673 million USD recorded in 2019. A pivot toward profitability occurred in 2024, with the entity reporting a positive net income of 6.7 million USD, marking the first profitable year since 2017.
- Correlation Analysis
- There is a strong positive correlation between net sales and profitability during the growth phase (2006-2012). However, from 2018 onward, the decline in revenue was accompanied by disproportionately larger losses in operating earnings, suggesting a period of high fixed costs or structural misalignment. The 2024 data indicates a decoupling of this trend, as the entity achieved a return to net profitability despite continued declines in net sales, suggesting successful cost-reduction measures or a change in the operating model.
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Balance Sheet: Assets
GameStop Corp., selected items from assets, long-term trends
US$ in thousands
| Current assets | Total assets | |
|---|---|---|
| Feb 3, 2024 | 1,974,200) | 2,709,000) |
| Jan 28, 2023 | 2,323,700) | 3,113,400) |
| Jan 29, 2022 | 2,598,800) | 3,499,300) |
| Jan 30, 2021 | 1,551,200) | 2,472,600) |
| Feb 1, 2020 | 1,633,700) | 2,819,700) |
| Feb 2, 2019 | 3,127,700) | 4,044,300) |
| Feb 3, 2018 | 2,538,700) | 5,041,600) |
| Jan 28, 2017 | 2,140,700) | 4,975,900) |
| Jan 30, 2016 | 1,938,800) | 4,334,900) |
| Jan 31, 2015 | 2,062,500) | 4,246,300) |
| Feb 1, 2014 | 1,949,600) | 4,091,400) |
| Feb 2, 2013 | 2,010,900) | 4,133,600) |
| Jan 28, 2012 | 1,997,300) | 4,847,400) |
| Jan 29, 2011 | 2,154,800) | 5,063,800) |
| Jan 30, 2010 | 2,127,304) | 4,955,327) |
| Jan 31, 2009 | 1,818,041) | 4,512,590) |
| Feb 2, 2008 | 1,794,717) | 3,775,891) |
| Feb 3, 2007 | 1,440,341) | 3,349,584) |
| Jan 28, 2006 | 1,121,265) | 3,015,119) |
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).
The analysis of the asset base reveals a trajectory characterized by an initial period of expansion, followed by significant volatility and an overall contraction in total asset value over the long term.
- Asset Growth and Peak
- Total assets experienced a steady increase from approximately 3.02 billion USD in 2006 to a peak of 5.06 billion USD in 2011. This growth phase was supported by a gradual rise in current assets, which increased from 1.12 billion USD to 2.15 billion USD over the same interval.
- Period of Contraction and Volatility
- Following a period of relative stability between 2012 and 2018, a marked downward trend occurred. Total assets declined sharply from 4.04 billion USD in 2019 to a low of 2.47 billion USD in 2021. Although a recovery to 3.50 billion USD was observed in 2022, the balance sheet subsequently contracted again, reaching 2.71 billion USD by February 2024.
- Shift in Asset Composition
- A significant shift in the proportion of current assets relative to total assets is observed. In 2006, current assets represented approximately 37% of total assets. By 2019, this ratio increased substantially, with current assets comprising roughly 77% of the total asset base. This trend toward higher liquidity or a reduction in non-current assets persisted through 2024, where current assets continued to represent a majority portion (approximately 73%) of the total asset structure.
- Current Asset Fluctuations
- Current assets exhibited a peak of 3.13 billion USD in 2019 before experiencing a sharp decline to 1.55 billion USD by 2021. A subsequent rebound to 2.60 billion USD in 2022 was followed by a gradual decline to 1.97 billion USD by February 2024, mirroring the volatility seen in the total asset figures.
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Balance Sheet: Liabilities and Stockholders’ Equity
GameStop Corp., selected items from liabilities and stockholders’ equity, long-term trends
US$ in thousands
| Current liabilities | Total liabilities | Total debt | Stockholders’ equity | |
|---|---|---|---|---|
| Feb 3, 2024 | 934,500) | 1,370,400) | 28,500) | 1,338,600) |
| Jan 28, 2023 | 1,339,100) | 1,791,100) | 39,500) | 1,322,300) |
| Jan 29, 2022 | 1,354,700) | 1,896,800) | 44,600) | 1,602,500) |
| Jan 30, 2021 | 1,342,700) | 2,035,900) | 362,700) | 436,700) |
| Feb 1, 2020 | 1,237,700) | 2,208,200) | 419,800) | 611,500) |
| Feb 2, 2019 | 2,181,100) | 2,708,100) | 820,800) | 1,336,200) |
| Feb 3, 2018 | 1,915,600) | 2,827,100) | 817,900) | 2,214,500) |
| Jan 28, 2017 | 1,761,500) | 2,721,800) | 815,000) | 2,254,100) |
| Jan 30, 2016 | 1,794,400) | 2,253,900) | 350,400) | 2,081,000) |
| Jan 31, 2015 | 1,639,700) | 2,178,600) | 355,700) | 2,067,700) |
| Feb 1, 2014 | 1,726,000) | 1,840,000) | 4,000) | 2,251,400) |
| Feb 2, 2013 | 1,715,300) | 1,847,300) | —) | 2,286,300) |
| Jan 28, 2012 | 1,633,900) | 1,807,200) | —) | 3,042,100) |
| Jan 29, 2011 | 1,747,800) | 2,167,900) | 249,000) | 2,897,300) |
| Jan 30, 2010 | 1,655,676) | 2,232,316) | 447,343) | 2,723,157) |
| Jan 31, 2009 | 1,562,711) | 2,212,909) | 545,712) | 2,299,681) |
| Feb 2, 2008 | 1,260,557) | 1,913,445) | 574,473) | 1,862,446) |
| Feb 3, 2007 | 1,087,057) | 1,973,706) | 855,899) | 1,375,878) |
| Jan 28, 2006 | 887,674) | 1,900,406) | 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).
The financial trajectory of the company's liabilities and equity from 2006 to 2024 is characterized by a long-term deleveraging process and substantial volatility in stockholders' equity.
- Liability Trends
- Total liabilities exhibited a gradual increase from 2006, peaking at 2.827 billion US dollars in 2018. Following this peak, a consistent downward trend is observed, with total liabilities reducing to 1.370 billion US dollars by February 3, 2024. Current liabilities followed a similar arc, rising from 887.6 million US dollars in 2006 to a high of 2.181 billion US dollars in 2019, before contracting to 934.5 million US dollars by 2024.
- Debt Obligations
- Total debt has undergone significant fluctuations over the analyzed period. After an initial decline from 975.9 million US dollars in 2006 to nearly negligible levels by 2014, debt surged again between 2017 and 2019, reaching 820.8 million US dollars. However, a sharp and sustained reduction occurred thereafter, resulting in a minimal debt balance of 28.5 million US dollars by 2024, indicating a transition toward a highly unleveraged capital structure.
- Stockholders' Equity Dynamics
- Stockholders' equity grew steadily from 1.114 billion US dollars in 2006 to a peak of 3.042 billion US dollars in 2012. A subsequent period of erosion followed, with equity declining to a minimum of 436.7 million US dollars by January 30, 2021. A rapid recovery was recorded in 2022, with equity increasing to 1.602 billion US dollars, eventually stabilizing at 1.338 billion US dollars in 2024.
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Cash Flow Statement
GameStop Corp., selected items from cash flow statement, long-term trends
US$ in thousands
| 12 months ended: | Net cash flows provided by (used in) operating activities | Net cash flows (used in) provided by investing activities | Net cash flows provided by (used in) financing activities |
|---|---|---|---|
| Feb 3, 2024 | (203,700) | (33,200) | (11,600) |
| Jan 28, 2023 | 108,200) | (222,700) | (7,900) |
| Jan 29, 2022 | (434,300) | (64,800) | 1,200,600) |
| Jan 30, 2021 | 123,700) | 36,900) | (55,400) |
| Feb 1, 2020 | (414,500) | (60,900) | (644,700) |
| Feb 2, 2019 | 325,100) | 635,500) | (174,700) |
| Feb 3, 2018 | 434,900) | (63,700) | (202,500) |
| Jan 28, 2017 | 537,100) | (578,000) | 238,700) |
| Jan 30, 2016 | 656,800) | (444,600) | (346,200) |
| Jan 31, 2015 | 480,500) | (235,900) | (131,200) |
| Feb 1, 2014 | 762,700) | (207,500) | (350,600) |
| Feb 2, 2013 | 632,400) | (152,700) | (498,500) |
| Jan 28, 2012 | 624,700) | (201,600) | (492,600) |
| Jan 29, 2011 | 591,200) | (240,100) | (555,600) |
| Jan 30, 2010 | 644,173) | (187,246) | (154,417) |
| Jan 31, 2009 | 549,235) | (813,898) | 22,650) |
| Feb 2, 2008 | 502,725) | (174,508) | (131,838) |
| Feb 3, 2007 | 423,504) | (125,936) | (46,655) |
| Jan 28, 2006 | 291,418) | (996,812) | 935,677) |
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).
The cash flow profile exhibits a distinct transition from a period of consistent operational growth and self-sustainability to a phase of high volatility and reliance on external financing. For the first decade of the observed period, the organization maintained a strong ability to generate positive cash flows from its core operations, which peaked in 2014 before entering a period of steady decline and eventual instability.
- Operating Cash Flow Trends
- Between 2006 and 2014, net cash flows from operating activities showed a general upward trajectory, increasing from $291.4 million to a peak of $762.7 million. However, starting in 2015, a downward trend emerged, with values falling to $325.1 million by 2018. From 2020 onward, the operating cash flow became highly erratic, alternating between significant deficits—reaching a low of -$434.3 million in 2022—and modest recoveries, ending with a deficit of -$203.7 million in 2024.
- Investing Cash Flow Patterns
- Investing activities were characterized by consistent net outflows from 2006 through 2018, typical of a period of capital expenditure and expansion. A notable anomaly occurred in 2019, where a substantial cash inflow of $635.5 million was recorded, indicating a significant divestment of assets or a liquidation event. In subsequent years, investing outflows remained relatively low compared to historical norms, suggesting a reduction in large-scale capital investment.
- Financing Cash Flow Dynamics
- Financing activities were predominantly negative between 2007 and 2016, suggesting the repayment of debt or the distribution of capital to shareholders. This pattern shifted in 2022 with a massive cash inflow of $1.2 billion, which served as a critical liquidity injection during a period of negative operating cash flow. Recent years show minimal financing activity, with small net outflows in 2023 and 2024.
The synthesis of these trends indicates a fundamental shift in the financial structure. The organization evolved from a cash-generative entity that funded its own growth and financing obligations to one that has experienced severe operational disruptions. The volatility in operating cash flows since 2020 has been mitigated by strategic asset divestments in 2019 and a major financing event in 2022, highlighting an increased dependence on non-operational cash sources to maintain liquidity.
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Per Share Data
GameStop Corp., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Feb 3, 2024 | 0.02 | 0.02 | 0.00 |
| Jan 28, 2023 | -1.03 | -1.03 | 0.00 |
| Jan 29, 2022 | -1.31 | -1.31 | 0.00 |
| Jan 30, 2021 | -0.83 | -0.83 | 0.00 |
| Feb 1, 2020 | -1.35 | -1.35 | 0.10 |
| Feb 2, 2019 | -1.65 | -1.65 | 0.38 |
| Feb 3, 2018 | 0.09 | 0.09 | 0.38 |
| Jan 28, 2017 | 0.86 | 0.85 | 0.37 |
| Jan 30, 2016 | 0.95 | 0.95 | 0.36 |
| Jan 31, 2015 | 0.88 | 0.87 | 0.33 |
| Feb 1, 2014 | 0.76 | 0.75 | 0.28 |
| Feb 2, 2013 | -0.53 | -0.53 | 0.20 |
| Jan 28, 2012 | 0.61 | 0.60 | 0.00 |
| Jan 29, 2011 | 0.67 | 0.66 | 0.00 |
| Jan 30, 2010 | 0.57 | 0.56 | 0.00 |
| Jan 31, 2009 | 0.61 | 0.60 | 0.00 |
| Feb 2, 2008 | 0.46 | 0.44 | 0.00 |
| Feb 3, 2007 | 0.27 | 0.25 | 0.00 |
| Jan 28, 2006 | 0.22 | 0.20 | 0.00 |
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, 2, 3 Data adjusted for splits and stock dividends.
The per-share financial metrics indicate a cyclical pattern of growth, followed by a period of severe contraction and a subsequent marginal recovery in profitability. There is a clear correlation between the stability of earnings and the company's capacity to maintain shareholder distributions.
- Earnings Per Share (EPS) Performance
- Basic and diluted earnings per share exhibited a consistent upward trajectory from 2006 through 2012, rising from 0.22 USD to 0.61 USD. Following a sharp decline into negative territory in 2013 (-0.53 USD), a strong recovery occurred, with EPS peaking at 0.95 USD in 2016. However, a sustained downward trend emerged after 2017, characterized by substantial losses from 2019 through 2023, with the most significant deficit occurring in 2019 at -1.65 USD. The period concludes with a return to a positive, albeit minimal, basic EPS of 0.02 USD in 2024.
- Dividend Distribution Policy
- Shareholder distributions were non-existent from 2006 until 2013. Dividends were initiated at 0.20 USD in 2013 and grew steadily to a peak of 0.38 USD by 2018 and 2019. This growth phase ended abruptly in 2020 with a significant reduction to 0.10 USD, followed by a total cessation of dividend payments from 2021 through 2024.
- Dilution Impact Analysis
- A comparison between basic and diluted earnings per share reveals a negligible variance throughout the entire period. The tight coupling of these two metrics suggests that there were no significant dilutive instruments, such as convertible securities or stock options, that materially impacted the earnings available to common shareholders.
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