GameStop Corp., current enterprise value calculation

Current share price (P)	$30.35
No. shares of common stock outstanding	304,516,136
US$ in thousands
Common equity (market value)¹	9,242,065)
Total equity	9,242,065)
Add: Short-term debt, including current portion of long-term debt, net (per books)	4,100)
Add: Borrowings under revolving line of credit (per books)	—)
Add: Long-term debt, net, excluding current portion (per books)	40,500)
Total equity and debt	9,286,665)
Less: Cash and cash equivalents	1,271,400)
Less: Restricted cash	33,100)
Enterprise value (EV)	7,982,165)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 30.35 × 304,516,136

GameStop Corp., EV calculation

	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Share price^1, 2	$21.93	$45.44	$1.06	$2.53	$3.21	$5.21
No. shares of common stock outstanding¹	305,356,992	279,743,312	257,831,968	409,069,740	406,333,276	404,843,424
US$ in thousands
Common equity (market value)³	6,696,479)	12,711,536)	273,302)	1,034,946)	1,304,330)	2,109,234)
Total equity	6,696,479)	12,711,536)	273,302)	1,034,946)	1,304,330)	2,109,234)
Add: Short-term debt, including current portion of long-term debt, net (book value)	4,100)	121,700)	—)	349,200)	—)	—)
Add: Borrowings under revolving line of credit (book value)	—)	25,000)	—)	—)	—)	—)
Add: Long-term debt, net, excluding current portion (book value)	40,500)	216,000)	419,800)	471,600)	817,900)	815,000)
Total equity and debt	6,741,079)	13,074,236)	693,102)	1,855,746)	2,122,230)	2,924,234)
Less: Cash and cash equivalents	1,271,400)	508,500)	499,400)	1,624,400)	864,400)	669,400)
Less: Restricted cash	33,100)	110,000)	300)	—)	—)	—)
Enterprise value (EV)	5,436,579)	12,455,736)	193,402)	231,346)	1,257,830)	2,254,834)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of GameStop Corp. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 21.93 × 305,356,992

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	GameStop Corp. EV increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

GameStop Corp. (NYSE:GME)

Enterprise Value (EV)