Price to FCFE (P/FCFE)
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GameStop Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2006
- Price to Earnings (P/E) since 2006
- Price to Operating Profit (P/OP) since 2006
- Aggregate Accruals
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Free Cash Flow to Equity (FCFE)
GameStop Corp., FCFE calculation
US$ in thousands
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).
- Net Cash Flows Provided by (Used in) Operating Activities
- The operating cash flows exhibit significant volatility over the observed periods. An initial positive figure of 325,100 thousand US dollars in February 2019 is followed by a substantial decline to -414,500 thousand in February 2020, indicating a sharp outflow. The subsequent year, January 2021, shows a recovery to positive cash flow of 123,700 thousand US dollars. However, this recovery is again interrupted by a negative outflow of -434,300 thousand in January 2022. The period ending January 2023 records a positive value of 108,200 thousand US dollars, though this improvement reverses to a negative cash flow of -203,700 thousand in February 2024. This pattern suggests irregular operational cash generation, possibly reflecting fluctuations in business performance or working capital adjustments.
- Free Cash Flow to Equity (FCFE)
- The FCFE follows a somewhat parallel but more pronounced trend of volatility relative to operating cash flows. Starting with a positive FCFE of 219,200 thousand US dollars in February 2019, it deteriorates sharply to a negative figure of -897,500 thousand in February 2020. A partial recovery is seen in January 2021 with 101,000 thousand US dollars. Nonetheless, the FCFE plunges to -828,700 thousand in January 2022, followed by a modest positive flow of 48,400 thousand in January 2023, before declining again to -236,200 thousand in February 2024. These fluctuations highlight inconsistent excess cash available to equity holders after capital expenditures and other financing needs, indicating unstable financial leverage or investment activities over the years.
Price to FCFE Ratio, Current
GameStop Corp., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Amazon.com Inc. | |
| Home Depot Inc. | |
| Lowe’s Cos. Inc. | |
| TJX Cos. Inc. | |
| P/FCFE, Sector | |
| Consumer Discretionary Distribution & Retail | |
| P/FCFE, Industry | |
| Consumer Discretionary | |
Based on: 10-K (reporting date: 2024-02-03).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
GameStop Corp., historical P/FCFE calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in thousands)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| Amazon.com Inc. | |||||||
| Home Depot Inc. | |||||||
| Lowe’s Cos. Inc. | |||||||
| TJX Cos. Inc. | |||||||
| P/FCFE, Sector | |||||||
| Consumer Discretionary Distribution & Retail | |||||||
| P/FCFE, Industry | |||||||
| Consumer Discretionary | |||||||
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.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of GameStop Corp. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price Trend
- The share price experienced significant volatility over the years. It started at $2.53 in early 2019, dropped to a low of $1.06 in early 2020, then surged sharply to $45.44 in early 2021. This peak was followed by a decline to $21.93 in early 2022, a slight recovery to $23.15 in early 2023, and a decrease to $15.50 by early 2024. This pattern indicates substantial market fluctuations and high investor interest during 2021, subsequently stabilizing at a lower level.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share showed irregular and predominantly negative values throughout the period. Beginning with a positive $0.54 in 2019, it declined to -$3.48 in 2020, recovered to $0.36 in 2021, and then reverted to negative results of -$2.71 in 2022 and -$0.77 in 2024, with a minor positive value of $0.16 in 2023. This inconsistency suggests fluctuating profitability or cash generation capacity, with frequent periods of cash outflow to shareholders or inadequate free cash flow.
- Price to FCFE Ratio (P/FCFE)
- The price to FCFE ratio was available and calculable for selective years, showing a dramatic increase over time. It was 4.72 in 2019, then soared to 125.86 in 2021, and even higher at 145.73 in 2023. The absence of values in other years likely reflects either negative FCFE values or undefined ratios. The substantial rise in P/FCFE indicates a growing market valuation relative to the free cash flow generated per share, pointing to potentially heightened investor expectations or undervaluation of actual cash flows during these years.
- Overall Insights
- The data reflects a company experiencing considerable financial instability and market speculation. The share price spike in 2021 corresponds with a moderate positive FCFE that year but extremely high P/FCFE ratios suggest a disconnect between market price and cash flow fundamentals. Negative FCFE figures in multiple years imply challenges in sustaining free cash flow, which raises questions about the company's long-term cash generation capabilities. The subsequent decline in share price and continued negative FCFE highlight ongoing financial pressures or market reassessment of value.