GameStop Corp., FCFE calculation

US$ in thousands

12 months ended:	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Net income (loss)	(381,300)	(215,300)	(470,900)	(673,000)	34,700)	353,200)
Net noncash charges	118,200)	158,000)	567,200)	1,014,400)	491,700)	207,800)
Changes in operating assets and liabilities	(171,200)	181,000)	(510,800)	(16,300)	(91,500)	(23,900)
Net cash flows provided by (used in) operating activities	(434,300)	123,700)	(414,500)	325,100)	434,900)	537,100)
Capital expenditures	(62,000)	(60,000)	(78,500)	(93,700)	(113,400)	(142,700)
Proceeds from sale of property and equipment	—)	95,500)	—)	—)	—)	—)
Net repayments of senior notes	(307,400)	(130,300)	(404,500)	—)	—)	—)
Proceeds from French term loans	—)	47,100)	—)	—)	—)	—)
Proceeds from senior notes	—)	—)	—)	—)	—)	475,000)
Borrowings from the revolver	—)	150,000)	—)	154,000)	373,000)	545,000)
Repayments of revolver borrowings	(25,000)	(125,000)	—)	(154,000)	(373,000)	(545,000)
Repayment of acquisition-related debt	—)	—)	—)	(12,200)	(21,800)	(400)
Free cash flow to equity (FCFE)	(828,700)	101,000)	(897,500)	219,200)	299,700)	869,000)

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).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to GameStop Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	GameStop Corp. FCFE increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

GameStop Corp., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	304,516,136
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)	(828,700)
FCFE per share	-2.72
Current share price (P)	30.35
Valuation Ratio
P/FCFE	—
Benchmarks
P/FCFE, Competitors¹
Amazon.com Inc.	86.50
Home Depot Inc.	17.68
Lowe’s Cos. Inc.	16.35
TJX Cos. Inc.	28.15
P/FCFE, Sector
Consumer Discretionary Distribution & Retail	77.46
P/FCFE, Industry
Consumer Discretionary	48.59

Based on: 10-K (reporting date: 2022-01-29).

¹ Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

GameStop Corp., historical P/FCFE calculation, comparison to benchmarks

	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
No. shares of common stock outstanding¹	305,356,992	279,743,312	257,831,968	409,069,740	406,333,276	404,843,424
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)²	(828,700)	101,000)	(897,500)	219,200)	299,700)	869,000)
FCFE per share³	-2.71	0.36	-3.48	0.54	0.74	2.15
Share price^1, 4	21.93	45.44	1.06	2.53	3.21	5.21
Valuation Ratio
P/FCFE⁵	—	125.86	—	4.72	4.35	2.43
Benchmarks
P/FCFE, Competitors⁶
Amazon.com Inc.	240.95	—	55.66	63.35	—	—
Home Depot Inc.	19.87	15.41	14.99	16.61	—	—
Lowe’s Cos. Inc.	13.55	12.28	8.69	20.45	—	—
TJX Cos. Inc.	—	10.55	19.71	21.79	—	—
P/FCFE, Sector
Consumer Discretionary Distribution & Retail	51.89	59.10	38.09	38.19	—	—
P/FCFE, Industry
Consumer Discretionary	38.31	86.53	30.52	28.87	—	—

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 Data adjusted for splits and stock dividends.

² See details »

³ 2022 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -828,700,000 ÷ 305,356,992 = -2.71

⁴ Closing price as at the filing date of GameStop Corp. Annual Report.

⁵ 2022 Calculation
P/FCFE = Share price ÷ FCFE per share
= 21.93 ÷ -2.71 = —

⁶ Click competitor name to see calculations.

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GameStop Corp. (NYSE:GME)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical