GameStop Corp., FCFE calculation

US$ in thousands

12 months ended:	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Net income (loss)	6,700)	(313,100)	(381,300)	(215,300)	(470,900)	(673,000)
Net noncash charges	85,400)	132,400)	118,200)	158,000)	567,200)	1,014,400)
Changes in operating assets and liabilities	(295,800)	288,900)	(171,200)	181,000)	(510,800)	(16,300)
Net cash flows provided by (used in) operating activities	(203,700)	108,200)	(434,300)	123,700)	(414,500)	325,100)
Capital expenditures	(34,900)	(55,900)	(62,000)	(60,000)	(78,500)	(93,700)
Proceeds from sale of property and equipment	13,100)	—)	—)	95,500)	—)	—)
Net repayments of senior notes	—)	—)	(307,400)	(130,300)	(404,500)	—)
Proceeds from French term loans	—)	—)	—)	47,100)	—)	—)
Repayments of French term loans	(10,700)	(3,900)	—)	—)	—)	—)
Borrowings from the revolver	—)	—)	—)	150,000)	—)	154,000)
Repayments of revolver borrowings	—)	—)	(25,000)	(125,000)	—)	(154,000)
Repayment of acquisition-related debt	—)	—)	—)	—)	—)	(12,200)
Free cash flow to equity (FCFE)	(236,200)	48,400)	(828,700)	101,000)	(897,500)	219,200)

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).

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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 2022 to 2023 but then slightly decreased from 2023 to 2024.

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

No. shares of common stock outstanding	305,873,200
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)	(236,200)
FCFE per share	-0.77
Current share price (P)	22.21
Valuation Ratio
P/FCFE	—
Benchmarks
P/FCFE, Competitors¹
Amazon.com Inc.	90.64
Home Depot Inc.	18.27
Lowe’s Cos. Inc.	16.41
TJX Cos. Inc.	29.63
P/FCFE, Sector
Consumer Discretionary Distribution & Retail	45.87
P/FCFE, Industry
Consumer Discretionary	31.88

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.

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	305,873,200	304,675,439	305,356,992	279,743,312	257,831,968	409,069,740
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)²	(236,200)	48,400)	(828,700)	101,000)	(897,500)	219,200)
FCFE per share³	-0.77	0.16	-2.71	0.36	-3.48	0.54
Share price^1, 4	15.50	23.15	21.93	45.44	1.06	2.53
Valuation Ratio
P/FCFE⁵	—	145.73	—	125.86	—	4.72
Benchmarks
P/FCFE, Competitors⁶
Amazon.com Inc.	—	84.16	240.95	—	55.66	63.35
Home Depot Inc.	20.12	19.60	19.87	15.41	14.99	16.61
Lowe’s Cos. Inc.	18.03	7.08	13.55	12.28	8.69	20.45
TJX Cos. Inc.	28.74	33.59	—	10.55	19.71	21.79
P/FCFE, Sector
Consumer Discretionary Distribution & Retail	—	41.67	53.54	59.29	38.77	37.99
P/FCFE, Industry
Consumer Discretionary	—	30.89	36.64	83.01	32.30	28.92

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 See details »

³ 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -236,200,000 ÷ 305,873,200 = -0.77

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

⁵ 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 15.50 ÷ -0.77 = —

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