Return on Capital (ROC)
Return on capital (ROC) is after tax rate of return on net business assets. ROIC is unaffected by changes in interest rates or company debt and equity structure. It measures business productivity performance.
Return on Invested Capital (ROIC)
GameStop Corp., ROIC calculation, comparison to benchmarks
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net operating profit after taxes (NOPAT)1 | (333,718) | (85,038) | (355,014) | (781,477) | 9,041) | 413,011) | |
| Invested capital2 | 2,449,500) | 1,656,300) | 1,926,200) | 2,995,218) | 3,832,741) | 4,240,630) | |
| Performance Ratio | |||||||
| ROIC3 | -13.62% | -5.13% | -18.43% | -26.09% | 0.24% | 9.74% | |
| Benchmarks | |||||||
| ROIC, Competitors4 | |||||||
| Amazon.com Inc. | -2.09% | 18.50% | 16.11% | 12.59% | — | — | |
| Home Depot Inc. | 37.57% | 28.36% | 35.06% | 35.92% | — | — | |
| Lowe’s Cos. Inc. | 37.37% | 24.73% | 19.08% | 11.47% | — | — | |
| TJX Cos. Inc. | 18.30% | 1.20% | 18.89% | 18.37% | — | — | |
Based on: 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).
1 NOPAT. See details »
2 Invested capital. See details »
3 2022 Calculation
ROIC = 100 × NOPAT ÷ Invested capital
= 100 × -333,718 ÷ 2,449,500 = -13.62%
4 Click competitor name to see calculations.
| Performance ratio | Description | The company |
|---|---|---|
| ROIC | A measure of the periodic, after tax, cash-on-cash yield earned in the business. | GameStop Corp. ROIC improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Decomposition of ROIC
GameStop Corp., decomposition of ROIC
Based on: 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).
1 Operating profit margin (OPM). See calculations »
2 Turnover of capital (TO). See calculations »
3 Effective cash tax rate (CTR). See calculations »
Operating Profit Margin (OPM)
GameStop Corp., OPM calculation, comparison to benchmarks
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net operating profit after taxes (NOPAT)1 | (333,718) | (85,038) | (355,014) | (781,477) | 9,041) | 413,011) | |
| Add: Cash operating taxes2 | 13,307) | (123,389) | (11,569) | 117,519) | 189,254) | 227,321) | |
| Net operating profit before taxes (NOPBT) | (320,411) | (208,427) | (366,583) | (663,958) | 198,295) | 640,332) | |
| Net sales | 6,010,700) | 5,089,800) | 6,466,000) | 8,285,300) | 9,224,600) | 8,607,900) | |
| Add: Increase (decrease) in deferred revenue | 22,400) | 3,400) | (7,700) | (8,200) | 8,200) | 18,700) | |
| Adjusted net sales | 6,033,100) | 5,093,200) | 6,458,300) | 8,277,100) | 9,232,800) | 8,626,600) | |
| Profitability Ratio | |||||||
| OPM3 | -5.31% | -4.09% | -5.68% | -8.02% | 2.15% | 7.42% | |
| Benchmarks | |||||||
| OPM, Competitors4 | |||||||
| Amazon.com Inc. | 0.01% | 9.14% | 7.23% | 6.37% | — | — | |
| Home Depot Inc. | 15.81% | 14.46% | 14.86% | 14.78% | — | — | |
| Lowe’s Cos. Inc. | 13.11% | 10.29% | 8.99% | 5.96% | — | — | |
| TJX Cos. Inc. | 9.95% | 1.83% | 11.34% | 11.40% | — | — | |
Based on: 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).
1 NOPAT. See details »
2 Cash operating taxes. See details »
3 2022 Calculation
OPM = 100 × NOPBT ÷ Adjusted net sales
= 100 × -320,411 ÷ 6,033,100 = -5.31%
4 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| OPM | The operating profit margin (OPM) is the ratio of pretax economic earnings, or NOPBT, to sales. | GameStop Corp. OPM improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Turnover of Capital (TO)
GameStop Corp., TO calculation, comparison to benchmarks
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net sales | 6,010,700) | 5,089,800) | 6,466,000) | 8,285,300) | 9,224,600) | 8,607,900) | |
| Add: Increase (decrease) in deferred revenue | 22,400) | 3,400) | (7,700) | (8,200) | 8,200) | 18,700) | |
| Adjusted net sales | 6,033,100) | 5,093,200) | 6,458,300) | 8,277,100) | 9,232,800) | 8,626,600) | |
| Invested capital1 | 2,449,500) | 1,656,300) | 1,926,200) | 2,995,218) | 3,832,741) | 4,240,630) | |
| Efficiency Ratio | |||||||
| TO2 | 2.46 | 3.08 | 3.35 | 2.76 | 2.41 | 2.03 | |
| Benchmarks | |||||||
| TO, Competitors3 | |||||||
| Amazon.com Inc. | 1.92 | 2.33 | 2.58 | 2.21 | — | — | |
| Home Depot Inc. | 3.15 | 2.66 | 3.01 | 3.17 | — | — | |
| Lowe’s Cos. Inc. | 3.68 | 3.16 | 2.70 | 2.90 | — | — | |
| TJX Cos. Inc. | 2.46 | 1.44 | 2.23 | 2.24 | — | — | |
Based on: 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).
1 Invested capital. See details »
2 2022 Calculation
TO = Adjusted net sales ÷ Invested capital
= 6,033,100 ÷ 2,449,500 = 2.46
3 Click competitor name to see calculations.
| Efficiency ratio | Description | The company |
|---|---|---|
| TO | The turnover of capital (TO) is the ratio of sales to invested capital. Capital turnover is a function of the efficiency of working capital management and of net fixed assets. | GameStop Corp. TO deteriorated from 2020 to 2021 and from 2021 to 2022. |
Effective Cash Tax Rate (CTR)
GameStop Corp., CTR calculation, comparison to benchmarks
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net operating profit after taxes (NOPAT)1 | (333,718) | (85,038) | (355,014) | (781,477) | 9,041) | 413,011) | |
| Add: Cash operating taxes2 | 13,307) | (123,389) | (11,569) | 117,519) | 189,254) | 227,321) | |
| Net operating profit before taxes (NOPBT) | (320,411) | (208,427) | (366,583) | (663,958) | 198,295) | 640,332) | |
| Tax Rate | |||||||
| CTR3 | — | — | — | — | 95.44% | 35.50% | |
| Benchmarks | |||||||
| CTR, Competitors4 | |||||||
| Amazon.com Inc. | 8,113.11% | 13.08% | 13.72% | 10.59% | — | — | |
| Home Depot Inc. | 24.46% | 26.23% | 21.74% | 23.25% | — | — | |
| Lowe’s Cos. Inc. | 22.46% | 23.91% | 21.38% | 33.62% | — | — | |
| TJX Cos. Inc. | 25.39% | 54.29% | 25.32% | 28.10% | — | — | |
Based on: 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).
1 NOPAT. See details »
2 Cash operating taxes. See details »
3 2022 Calculation
CTR = 100 × Cash operating taxes ÷ NOPBT
= 100 × 13,307 ÷ -320,411 = —
4 Click competitor name to see calculations.