Enterprise Value (EV)
Current Enterprise Value (EV)
GameStop Corp., current enterprise value calculation
| Current share price (P) | $30.49 |
| No. shares of common stock outstanding | 351,217,517 |
| US$ in thousands | |
| Common equity (market value)1 | 10,708,622) |
| Total equity | 10,708,622) |
| Add: Current portion of long-term debt (per books) | 10,800) |
| Add: Borrowings under revolving line of credit (per books) | —) |
| Add: Long-term debt, excluding current portion (per books) | 17,700) |
| Total equity and debt | 10,737,122) |
| Less: Cash and cash equivalents | 921,700) |
| Less: Marketable securities | 277,600) |
| Enterprise value (EV) | 9,537,822) |
Based on: 10-K (reporting date: 2024-02-03).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 30.49 × 351,217,517
Historical Enterprise Value (EV)
GameStop Corp., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of GameStop Corp. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 15.50 × 305,873,200
- Common Equity (Market Value) and Total Equity
- Both common equity and total equity display a similar pattern, reflecting identical values across the periods observed. There is a significant decline from 1,034,946 thousand US dollars in early 2019 to 273,302 thousand by early 2020. This is followed by a dramatic surge reaching 12,711,536 thousand in early 2021. Subsequently, equity decreases over the next three years, dropping to 6,696,479 thousand in early 2022, slightly increasing to 7,053,236 thousand in early 2023, and then falling again to 4,741,035 thousand by early 2024.
- Total Equity and Debt
- Total equity and debt values are generally higher than total equity alone, indicating the presence of debt in the capital structure. The value rises from 1,855,746 thousand in early 2019 to 693,102 thousand in early 2020, then experiences a sharp increase to 13,074,236 thousand in early 2021. Afterwards, a decline takes place, with total equity and debt amounting to 6,741,079 thousand in early 2022 and 7,092,736 thousand in early 2023, before decreasing to 4,769,535 thousand by early 2024. The movements closely mirror the trend seen in equity, confirming substantial fluctuations in both equity and debt levels.
- Enterprise Value (EV)
- Enterprise value demonstrates a contrasting pattern compared to equity and debt metrics. Starting at 231,346 thousand in early 2019, EV slightly decreases to 193,702 thousand in early 2020. A substantial increase is observed in early 2021, reaching 12,565,736 thousand, followed by a decline to 5,469,679 thousand in early 2022. Minor growth occurs in early 2023, with EV recorded at 5,702,136 thousand, before a notable drop to 3,570,235 thousand by early 2024. This volatility suggests significant changes in the market perception or underlying business performance during this period.
- Overall Trends and Insights
- The data exhibits considerable volatility over the six-year period. The peak values in 2021 across equity, debt, and enterprise value indicate a period of elevated market capitalization and possibly increased financing activities. The decline post-2021 in all metrics points to either a contraction in market valuation or shifts in the company's financial structure. The close alignment of common equity and total equity values also implies minimal preferred stock or non-common equity components. The fluctuations in enterprise value suggest changing investor sentiment or operational performance, which may warrant further investigation.