GameStop (GME)
Market Price (8/4/2026): $19.08 | Market Cap: $8.6 BilSector: Consumer Discretionary | Industry: Computer & Electronics Retail
GameStop (GME)
Market Price (8/4/2026): $19.08Market Cap: $8.6 BilSector: Consumer DiscretionaryIndustry: Computer & Electronics Retail
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.6%, FCF Yield is 8.7% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -47% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Digital Content & Streaming, and E-commerce & Digital Retail. Themes include Gaming Content & Platforms, and Online Marketplaces. | Weak multi-year price returns2Y Excs Rtn is -58%, 3Y Excs Rtn is -82% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 16.14 Short seller report Key risksGME key risks include [1] its reliance on a declining physical media market as the industry shifts to digital distribution, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.6%, FCF Yield is 8.7% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -47% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and E-commerce & Digital Retail. Themes include Gaming Content & Platforms, and Online Marketplaces. |
| Weak multi-year price returns2Y Excs Rtn is -58%, 3Y Excs Rtn is -82% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 16.14 |
| Short seller report |
| Key risksGME key risks include [1] its reliance on a declining physical media market as the industry shifts to digital distribution, Show more. |
Qualitative Assessment
AI Analysis | Feedback
GameStop (GME) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Dilution from $1.4 billion convertible note exchange.
On August 3, 2026, GameStop announced agreements to exchange approximately $1.4 billion of outstanding convertible senior notes for newly issued Class A common stock. While this move reduces long-term debt without using cash, it significantly increases the number of outstanding shares and dilutes existing shareholder value. This news triggered a sharp decline in the stock, with shares falling approximately 12.3% on August 3, 2026, reaching a new 52-week low of $19.06 to $19.25.
2. Persistent investor skepticism surrounding the proposed eBay acquisition.
GameStop, which held an approximate 9.8% stake in eBay Inc. (roughly 43.4 million shares), proposed to acquire eBay at $125.00 per share on May 3, 2026. This bid was reportedly rejected by eBay as "not credible and unattractive" and raised investor concerns regarding GameStop's ability to finance such a large transaction. This ongoing uncertainty and skepticism about the acquisition strategy contributed to negative market sentiment.
Show more
GameStop (GME) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Dilution from $1.4 billion convertible note exchange.
On August 3, 2026, GameStop announced agreements to exchange approximately $1.4 billion of outstanding convertible senior notes for newly issued Class A common stock. While this move reduces long-term debt without using cash, it significantly increases the number of outstanding shares and dilutes existing shareholder value. This news triggered a sharp decline in the stock, with shares falling approximately 12.3% on August 3, 2026, reaching a new 52-week low of $19.06 to $19.25.
2. Persistent investor skepticism surrounding the proposed eBay acquisition.
GameStop, which held an approximate 9.8% stake in eBay Inc. (roughly 43.4 million shares), proposed to acquire eBay at $125.00 per share on May 3, 2026. This bid was reportedly rejected by eBay as "not credible and unattractive" and raised investor concerns regarding GameStop's ability to finance such a large transaction. This ongoing uncertainty and skepticism about the acquisition strategy contributed to negative market sentiment.
3. Market perception of overvaluation despite strong quarterly results.
Despite reporting strong financial results for its fiscal Q1 2026, which ended on May 2, 2026 (including an EPS of $0.30, beating estimates by 172.73%, and a 14% year-over-year increase in net sales to $835.3 million), the stock remained susceptible to broader valuation concerns. As of August 3, 2026, GameStop's stock price of $19.06 was considered significantly overvalued, trading 50.9% above its estimated intrinsic value of $12.63 (GF Value™), suggesting a potential for price correction when negative catalysts emerge.
Show less
Stock Movement Drivers
Fundamental Drivers
The -23.6% change in GME stock from 4/30/2026 to 8/3/2026 was primarily driven by a -58.1% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.95 | 19.06 | -23.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,630 | 3,733 | 2.8% |
| Net Income Margin (%) | 11.5% | 20.4% | 77.4% |
| P/E Multiple | 26.7 | 11.2 | -58.1% |
| Shares Outstanding (Mil) | 448 | 448 | 0.0% |
| Cumulative Contribution | -23.6% |
Market Drivers
4/30/2026 to 8/3/2026| Return | Correlation | |
|---|---|---|
| GME | -23.6% | |
| Market (SPY) | 5.4% | 0.5% |
| Sector (XLY) | -0.1% | 11.6% |
Fundamental Drivers
The -20.2% change in GME stock from 1/31/2026 to 8/3/2026 was primarily driven by a -55.8% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.88 | 19.06 | -20.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,808 | 3,733 | -2.0% |
| Net Income Margin (%) | 11.1% | 20.4% | 84.6% |
| P/E Multiple | 25.3 | 11.2 | -55.8% |
| Shares Outstanding (Mil) | 448 | 448 | -0.2% |
| Cumulative Contribution | -20.2% |
Market Drivers
1/31/2026 to 8/3/2026| Return | Correlation | |
|---|---|---|
| GME | -20.2% | |
| Market (SPY) | 9.8% | 17.0% |
| Sector (XLY) | -2.2% | 17.1% |
Fundamental Drivers
The -15.1% change in GME stock from 7/31/2025 to 8/3/2026 was primarily driven by a -76.8% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.45 | 19.06 | -15.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,674 | 3,733 | 1.6% |
| Net Income Margin (%) | 5.7% | 20.4% | 260.6% |
| P/E Multiple | 48.2 | 11.2 | -76.8% |
| Shares Outstanding (Mil) | 447 | 448 | -0.3% |
| Cumulative Contribution | -15.1% |
Market Drivers
7/31/2025 to 8/3/2026| Return | Correlation | |
|---|---|---|
| GME | -15.1% | |
| Market (SPY) | 20.9% | 23.0% |
| Sector (XLY) | 7.4% | 23.0% |
Fundamental Drivers
The -14.1% change in GME stock from 7/31/2023 to 8/3/2026 was primarily driven by a -35.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.20 | 19.06 | -14.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,786 | 3,733 | -35.5% |
| P/S Multiple | 1.2 | 2.3 | 96.0% |
| Shares Outstanding (Mil) | 304 | 448 | -32.1% |
| Cumulative Contribution | -14.1% |
Market Drivers
7/31/2023 to 8/3/2026| Return | Correlation | |
|---|---|---|
| GME | -14.1% | |
| Market (SPY) | 71.4% | 16.1% |
| Sector (XLY) | 39.2% | 17.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GME Return | 688% | -50% | -5% | 79% | -36% | 8% | 361% |
| Peers Return | 19% | -26% | 31% | 29% | 1% | 20% | 78% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| GME Win Rate | 50% | 33% | 50% | 50% | 33% | 50% | |
| Peers Win Rate | 58% | 33% | 62% | 65% | 48% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 38% | |
Max Drawdowns [4] | |||||||
| GME Max Drawdown | -88% | -62% | -56% | -62% | -43% | -21% | |
| Peers Max Drawdown | -17% | -40% | -23% | -18% | -30% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BBY, AMZN, WMT, TGT, MSFT. See GME Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/3/2026 (YTD)
How Low Can It Go
| Event | GME | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.8% | -18.8% |
| % Gain to Breakeven | 23.2% | 23.1% |
| Time to Breakeven | 8 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -17.3% | -7.8% |
| % Gain to Breakeven | 20.9% | 8.5% |
| Time to Breakeven | 98 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -47.9% | -9.5% |
| % Gain to Breakeven | 91.9% | 10.5% |
| Time to Breakeven | 168 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.0% | -6.7% |
| % Gain to Breakeven | 23.4% | 7.1% |
| Time to Breakeven | 7 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.9% | -24.5% |
| % Gain to Breakeven | 95.7% | 32.4% |
| Time to Breakeven | 14 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.5% | -33.7% |
| % Gain to Breakeven | 48.2% | 50.9% |
| Time to Breakeven | 10 days | 140 days |
In The Past
GameStop's stock fell -18.8% during the 2025 US Tariff Shock. Such a loss loss requires a 23.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | GME | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -47.9% | -9.5% |
| % Gain to Breakeven | 91.9% | 10.5% |
| Time to Breakeven | 168 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.9% | -24.5% |
| % Gain to Breakeven | 95.7% | 32.4% |
| Time to Breakeven | 14 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.5% | -33.7% |
| % Gain to Breakeven | 48.2% | 50.9% |
| Time to Breakeven | 10 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -24.6% | -3.7% |
| % Gain to Breakeven | 32.6% | 3.9% |
| Time to Breakeven | 1531 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -45.6% | -12.2% |
| % Gain to Breakeven | 83.8% | 13.9% |
| Time to Breakeven | 1816 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -38.0% | -6.8% |
| % Gain to Breakeven | 61.2% | 7.3% |
| Time to Breakeven | 1815 days | 15 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -28.2% | -15.4% |
| % Gain to Breakeven | 39.4% | 18.2% |
| Time to Breakeven | 287 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -72.2% | -53.4% |
| % Gain to Breakeven | 259.3% | 114.4% |
| Time to Breakeven | 4445 days | 1085 days |
In The Past
GameStop's stock fell -18.8% during the 2025 US Tariff Shock. Such a loss loss requires a 23.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About GameStop (GME)
GameStop Corp. (GME) is a specialty retailer focused on games and entertainment products, serving customers across the United States, Canada, Australia, and Europe. The company operates a significant retail footprint, comprising over 4,500 physical stores under brands like GameStop, EB Games, and Micromania, complemented by robust e-commerce properties. It also runs dedicated pop culture themed stores called Zing Pop Culture.
GameStop's product portfolio is centered around gaming, offering new and pre-owned gaming platforms, accessories such as controllers and VR products, and a vast selection of new and pre-owned gaming software. This includes digital offerings like in-game currency and full-game downloads. Beyond traditional gaming, GameStop caters to a broader audience of enthusiasts by selling collectibles, including licensed merchandise from gaming, television, movie, and pop culture industries. The company also publishes Game Informer, a digital and print video game publication. Its primary customers are gamers and pop culture collectors looking for a comprehensive range of related products and content.
AI Analysis | Feedback
A Best Buy, but specialized solely in video games, consoles, and related pop culture merchandise.
Barnes & Noble for video games.
AI Analysis | Feedback
- Gaming Platforms: Sells new and pre-owned gaming consoles and hardware.
- Gaming Accessories: Offers various accessories including controllers, headsets, VR products, and memory cards.
- Gaming Software: Provides new and pre-owned video games.
- Digital Gaming Products: Sells in-game digital currency, downloadable content (DLC), and full-game downloads.
- Collectibles: Retails licensed merchandise related to gaming, television, movie, and pop culture themes.
- Game Informer Publication: Publishes a print and digital video game magazine featuring reviews and news.
AI Analysis | Feedback
Major Customers of GameStop (GME)
GameStop Corp. is a specialty retailer that primarily sells products directly to individual consumers rather than other businesses (B2C model). Based on its business description, the company serves the following categories of customers:
- Video Game Enthusiasts and Gamers: This is GameStop's core customer base, comprising individuals who actively purchase new and pre-owned gaming platforms, accessories (controllers, headsets, virtual reality products, memory cards), new and pre-owned gaming software, in-game digital currency, digital downloadable content, and full-game downloads. They are engaged in the gaming ecosystem and seek the latest or classic gaming experiences and related hardware.
- Pop Culture Collectors and Fans: These customers are interested in licensed merchandise, apparel, gadgets, electronics, toys, and other retail products primarily related to the gaming, television, and movie industries, as well as broader pop culture themes. This segment is served through GameStop's general collectibles offerings and specifically through its Zing Pop Culture themed stores.
- Gift Shoppers and Families: This category includes individuals who may not be avid gamers themselves but are purchasing games, consoles, accessories, or collectibles as gifts for children, teenagers, or other family members and friends. They are looking for entertainment products or collectible items suitable for gifting occasions.
AI Analysis | Feedback
Major Suppliers:
- Sony Group Corporation (SONY)
- Microsoft Corporation (MSFT)
- Nintendo Co., Ltd. (NTDOY)
- Electronic Arts Inc. (EA)
- Take-Two Interactive Software, Inc. (TTWO)
- Funko, Inc. (FNKO)
AI Analysis | Feedback
Ryan Cohen, President and Chief Executive Officer
Ryan Cohen founded the e-commerce pet supply company Chewy in 2011 and served as its CEO until 2018. He sold Chewy to PetSmart in 2017 for $3.35 billion. An activist investor, Cohen acquired a significant stake in GameStop in 2020. He was appointed Chairman of GameStop in June 2021 and became President and Chief Executive Officer in September 2023. Cohen does not accept a salary for his roles as CEO and Chairman. Through his investment firm, RC Ventures, he has also invested in other companies such as Bed Bath & Beyond and Nordstrom.
Daniel Moore, Principal Financial and Accounting Officer
Daniel Moore is GameStop's Principal Financial and Accounting Officer. He was appointed as Principal Accounting Officer on August 11, 2023, and later as Principal Financial Officer on March 25, 2024. Moore possesses extensive experience in finance and accounting, including previous senior tax roles at Elevate Textiles and Roper Technologies, Inc.
Mark Robinson, General Counsel and Secretary
Mark Robinson serves as GameStop's General Counsel and Secretary. In June 2023, he was also named Principal Executive Officer and General Manager, reporting directly to Executive Chairman Ryan Cohen, while continuing his duties as General Counsel and Secretary.
AI Analysis | Feedback
Key Risks to GameStop (GME)
- Declining Physical Game Sales and Shift to Digital Distribution: GameStop's traditional business model heavily relies on the sale of physical games and accessories through its brick-and-mortar stores. The video game industry, however, has seen a significant and ongoing shift towards digital downloads, subscription services, and cloud gaming, which directly reduces the demand for physical media. This trend leads to declining foot traffic in physical stores and a reduction in GameStop's core revenue streams, threatening large parts of its business model.
- Intense Competition from Online Retailers and Digital Storefronts: GameStop faces substantial competition from major online retailers like Amazon, as well as digital storefronts operated directly by console manufacturers (e.g., PlayStation Store, Xbox Store) and PC gaming platforms (e.g., Steam). These competitors offer convenience, often competitive pricing, and immediate access to digital content, directly impacting GameStop's market share and profitability.
- Stock Price Volatility and Investment Portfolio Risks: GameStop's stock has experienced extreme price and volume fluctuations, often detached from its operational performance, largely due to its status as a "meme stock" driven by retail investor sentiment. Furthermore, the company's strategy of investing in volatile assets, such as cryptocurrencies like Bitcoin, exposes it to significant market volatility, which could adversely affect its financial position and performance.
AI Analysis | Feedback
The accelerated industry-wide shift from physical video game media to digital downloads and streaming services represents a clear emerging threat. This trend, driven by console manufacturers' increased focus on digital-only consoles and game publishers' preference for direct digital distribution, significantly diminishes the market for new and pre-owned physical games and platforms. Given GameStop's extensive network of physical stores and its historical reliance on physical media and the highly profitable pre-owned market, this ongoing digital transition directly challenges its core business model. Furthermore, the growth of cloud gaming services poses a long-term threat by potentially reducing the need for traditional gaming hardware purchases.
AI Analysis | Feedback
Here are the addressable market sizes for GameStop's main products and services:
Gaming Platforms (Consoles)
- The global video game market, which includes consoles, was estimated at USD 298.98 billion in 2024 and is projected to reach USD 600.74 billion by 2030. The console segment accounted for over 27% of the global video game market in 2024.
- The console gaming market globally is expected to see growth return in 2025, following a projected 1.0% decline in 2024.
- In Europe, the video game market was valued at USD 88.16 billion in 2024 and is expected to reach USD 239.32 billion by 2033.
- The Australia gaming console market is projected to reach USD 1,907.4 million by 2033.
Gaming Accessories (controllers, gaming headsets, virtual reality products, memory cards)
- Globally, the gaming accessories market size was valued at USD 13.23 billion in 2024 and is projected to reach USD 28.12 billion by 2032. Another estimate places the global market at USD 10.6 billion in 2024, growing to USD 29.67 billion by 2033.
- In the U.S., the gaming accessories market size was valued at USD 5.67 billion in 2024 and is projected to reach USD 11.97 billion by 2032. U.S. consumer spending on video game accessories reached $3.2 billion in 2024.
- The North American gaming accessories market was valued at USD 6.0 billion in 2023.
- For Europe, the gaming accessories market is expected to grow from 2024 to 2032 and is projected to generate USD 7.23 billion with a CAGR of 13.8% during the forecast period. The European market was valued at USD 4.0 billion in 2023.
- The Australia gaming accessories market size reached USD 305.20 million in 2024 and is expected to reach USD 527.29 million by 2033. In 2025, the Australian market was valued at approximately AUD 253.39 million.
Gaming Software & Digital Content (new and pre-owned gaming software, in-game digital currency, digital downloadable content, full-game downloads)
- The global video game software market size was valued at $198.5 billion in 2021 and is projected to reach $751.4 billion by 2031.
- The global digital gaming market size is anticipated to be worth USD 344.61 billion in 2025, projected to reach USD 1.32 trillion by 2034.
- In the U.S., the video games software market size was USD 51.47 billion in 2024 and is projected to grow to USD 67.09 billion by 2032. The U.S. online gaming market is estimated at USD 43.52 billion in 2026.
- Europe's video game market was valued at USD 88.16 billion in 2024 and is expected to reach USD 239.32 billion by 2033. Online gaming was the dominant type segment in Europe in 2024. Europe contributed approximately USD 31.88 billion to the global online gaming market in 2025.
Collectibles (licensed merchandise primarily related to the gaming, television, and movie industries, as well as pop culture themes)
null
Game Informer (print and digital video game publication)
null
AI Analysis | Feedback
GameStop (GME) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives aimed at transforming its business model and adapting to evolving consumer preferences.
-
Expansion into the High-Margin Collectibles Market: GameStop is strategically expanding its focus on high-margin collectibles, including trading cards like Pokémon, Magic: The Gathering, and sports cards, as well as apparel, toys, and other pop culture merchandise. This initiative aims to diversify revenue streams and capitalize on increasing consumer demand in this growing market.
-
Digital Transformation and E-commerce Enhancement (Omnichannel Excellence): The company is actively investing in and enhancing its online platform and e-commerce capabilities to create a seamless omnichannel experience for customers. This digital-first approach is crucial for expanding its reach, adapting to the significant shift in consumer behavior towards digital purchases, and becoming a premier destination for gaming and entertainment products.
-
Diversification of Product Offerings Beyond Traditional Video Games: Beyond the significant push into collectibles, GameStop is exploring and expanding its product range into other entertainment products and new categories. This broader diversification strategy is designed to appeal to a wider customer base and reduce its traditional reliance on physical video game sales, which have been declining.
-
Enhanced Customer Experience and Community Building: GameStop aims to foster brand loyalty and drive repeat business by creating a strong, community-centric ecosystem and improving the overall customer experience. This includes enhancing its online platforms, leveraging its physical stores as important touchpoints, and utilizing loyalty programs to engage its core audience.
AI Analysis | Feedback
Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- Within the last 3-5 years, GameStop's share repurchase activity has been minimal to non-existent.
- Historically, in December 2019, GameStop spent $178.6 million to repurchase 34.6 million shares, representing 34% of its outstanding shares.
Share Issuance
- In 2021, during the "meme stock" event, GameStop raised over $1.5 billion in equity through share issuances, allowing it to eliminate virtually all long-term debt.
- In 2022, the company saw a large inflow of $1.67 billion from stock issuance.
- GameStop issued approximately $1.5 billion via 0% convertible notes in Q2 2025. Shares outstanding increased by 29.33% from 2024 to 2025.
Inbound Investments
- Activist investor Ryan Cohen took a significant stake and joined GameStop's board in 2021, signaling a major push towards a digital-first, e-commerce-driven transformation.
- Clear Street Group Inc. acquired a new position in GameStop in Q3 (likely 2025), acquiring shares valued at approximately $29.97 million.
- As of March 2026, institutional investors and hedge funds collectively own 29.21% of GameStop's stock, with major holders including Vanguard Group Inc and BlackRock, Inc..
Outbound Investments
- In Q2 2025, GameStop purchased 4,710 Bitcoin for approximately $513 million, diversifying its cash holdings.
- The company sold its Canadian subsidiary, Electronics Boutique Canada, Inc., in May 2025, and also sold its video game magazine, Game Informer, in 2025.
- GameStop ventured into digital assets by launching an NFT marketplace and crypto wallet in 2022, though the NFT marketplace was later shut down due to regulatory uncertainty.
Capital Expenditures
- Capital expenditures have generally decreased over the last few years, from $60.0 million in fiscal year 2021 to $34.9 million in fiscal year 2024 (ending January 31, 2024).
- In the most recent reported quarter, capital expenditures totaled -$4.30 million.
- Future capital expenditures are anticipated to remain at "modest levels" and will be pragmatically targeted at infrastructure and technology, reflecting investments in technology and enterprise systems.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 130.03 |
| Mkt Cap | 475.0 |
| Rev LTM | 219,108 |
| Op Inc LTM | 17,482 |
| FCF LTM | 2,318 |
| FCF 3Y Avg | 8,617 |
| CFO LTM | 23,948 |
| CFO 3Y Avg | 22,640 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.7% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 10.7% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 11.8% |
| Op Inc Chg 3Y Avg | 16.7% |
| Op Mgn LTM | 7.6% |
| Op Mgn 3Y Avg | 4.7% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 13.5% |
| CFO/Rev 3Y Avg | 8.2% |
| FCF/Rev LTM | 3.3% |
| FCF/Rev 3Y Avg | 3.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 475.0 |
| P/S | 1.8 |
| P/Op Inc | 22.3 |
| P/EBIT | 19.2 |
| P/E | 21.1 |
| P/CFO | 15.1 |
| Total Yield | 6.3% |
| Dividend Yield | 0.8% |
| FCF Yield 3Y Avg | 2.5% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.0% |
| 3M Rtn | 11.2% |
| 6M Rtn | 16.3% |
| 12M Rtn | 22.8% |
| 3Y Rtn | 39.1% |
| 1M Excs Rtn | 10.4% |
| 3M Excs Rtn | 6.3% |
| 6M Excs Rtn | 6.7% |
| 12M Excs Rtn | -2.3% |
| 3Y Excs Rtn | -30.0% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Hardware and accessories | 1,840 | 2,100 | 2,997 | 3,140 | 3,172 |
| Collectibles | 1,060 | 718 | 754 | 965 | 824 |
| Software | 729 | 1,005 | 1,522 | 1,823 | 2,015 |
| Total | 3,630 | 3,823 | 5,273 | 5,927 | 6,011 |
| $ Mil | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|
| United States | 504 | 483 | 465 | 502 |
| Europe | 49 | 36 | 44 | -398 |
| Australia | 39 | 38 | 38 | -72 |
| Canada | 29 | 28 | 27 | -74 |
| Technology Brands | 27 | 33 | -0 | |
| Total | 648 | 618 | 574 | -42 |
| $ Mil | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|
| United States | 2,703 | 2,740 | 2,321 | 2,665 |
| Technology Brands | 589 | 344 | 181 | |
| Europe | 402 | 527 | 972 | 799 |
| Australia | 382 | 382 | 389 | 417 |
| Canada | 259 | 252 | 229 | 252 |
| Total | 4,335 | 4,246 | 4,091 | 4,134 |
Price Behavior
| Market Price | $19.06 | |
| Market Cap ($ Bil) | 8.5 | |
| First Trading Date | 02/13/2002 | |
| Distance from 52W High | -31.2% | |
| 50 Days | 200 Days | |
| DMA Price | $21.92 | $22.67 |
| DMA Trend | down | down |
| Distance from DMA | -13.0% | -15.9% |
| 3M | 1YR | |
| Volatility | 39.2% | 37.7% |
| Downside Capture | 34.45 | 119.24 |
| Upside Capture | -66.87 | 74.42 |
| Correlation (SPY) | 12.5% | 28.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.50 | 0.13 | 0.37 | 0.64 | 0.77 | 1.05 |
| Up Beta | -0.59 | -0.10 | 0.56 | 0.26 | 0.40 | 0.49 |
| Down Beta | 0.74 | 0.59 | -0.14 | 0.38 | 0.43 | 0.40 |
| Up Capture | 61% | 10% | 13% | 69% | 87% | 467% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 9 | 21 | 28 | 61 | 121 | 355 |
| Down Capture | 88% | -6% | 91% | 100% | 112% | 111% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 22 | 34 | 64 | 125 | 385 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GME | |
|---|---|---|---|---|
| GME | -15.2% | 37.6% | -0.36 | - |
| Sector ETF (XLY) | 7.4% | 19.6% | 0.25 | 23.0% |
| Equity (SPY) | 21.0% | 12.9% | 1.20 | 23.0% |
| Gold (GLD) | 22.8% | 28.1% | 0.72 | 4.8% |
| Commodities (DBC) | 28.8% | 19.7% | 1.16 | -4.8% |
| Real Estate (VNQ) | 15.5% | 13.8% | 0.80 | 7.7% |
| Bitcoin (BTCUSD) | -45.9% | 43.1% | -1.30 | 17.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GME | |
|---|---|---|---|---|
| GME | -15.2% | 94.7% | 0.23 | - |
| Sector ETF (XLY) | 5.9% | 24.1% | 0.21 | 30.8% |
| Equity (SPY) | 12.9% | 17.2% | 0.58 | 26.2% |
| Gold (GLD) | 17.2% | 18.5% | 0.75 | 3.7% |
| Commodities (DBC) | 8.4% | 19.5% | 0.32 | 6.2% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 22.0% |
| Bitcoin (BTCUSD) | 11.0% | 53.1% | 0.39 | 18.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GME | |
|---|---|---|---|---|
| GME | 12.7% | 117.8% | 0.59 | - |
| Sector ETF (XLY) | 12.4% | 22.2% | 0.51 | 19.6% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 16.5% |
| Gold (GLD) | 11.4% | 16.1% | 0.58 | 0.5% |
| Commodities (DBC) | 7.1% | 18.0% | 0.31 | 6.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 15.4% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 7.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/2/2026 | 6.0% | 6.5% | 9.1% |
| 3/24/2026 | 1.2% | 1.0% | 9.6% |
| 12/9/2025 | -4.3% | -3.6% | -8.1% |
| 9/9/2025 | 3.3% | 11.7% | 3.5% |
| 6/10/2025 | -5.3% | -23.7% | -21.4% |
| 3/25/2025 | 11.7% | -11.0% | 6.6% |
| 12/10/2024 | 7.6% | 16.1% | 15.2% |
| 9/10/2024 | -12.0% | -14.0% | -12.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 12 |
| # Negative | 10 | 12 | 11 |
| Median Positive | 7.4% | 14.3% | 8.6% |
| Median Negative | -15.1% | -14.2% | -21.4% |
| Max Positive | 35.2% | 62.4% | 83.5% |
| Max Negative | -39.4% | -37.4% | -47.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/2/2026 | 6.0% | 6.5% | 9.1% |
| 3/24/2026 | 1.2% | 1.0% | 9.6% |
| 12/9/2025 | -4.3% | -3.6% | -8.1% |
| 9/9/2025 | 3.3% | 11.7% | 3.5% |
| 6/10/2025 | -5.3% | -23.7% | -21.4% |
| 3/25/2025 | 11.7% | -11.0% | 6.6% |
| 12/10/2024 | 7.6% | 16.1% | 15.2% |
| 9/10/2024 | -12.0% | -14.0% | -12.6% |
| 6/7/2024 | -39.4% | -37.4% | -47.2% |
| 3/26/2024 | -15.0% | -26.6% | -27.7% |
| 12/6/2023 | 10.2% | 12.5% | 6.4% |
| 9/6/2023 | 0.7% | -5.0% | -21.5% |
| 6/7/2023 | -17.9% | -1.6% | -9.8% |
| 3/21/2023 | 35.2% | 31.2% | 14.6% |
| 12/7/2022 | 11.4% | -5.4% | -26.4% |
| 9/7/2022 | 7.4% | 17.0% | 8.1% |
| 6/1/2022 | 10.4% | 14.3% | 1.7% |
| 3/17/2022 | 3.5% | 62.4% | 61.3% |
| 12/8/2021 | -10.3% | -14.4% | -19.0% |
| 9/8/2021 | 0.2% | 2.9% | -13.4% |
| 6/9/2021 | -27.2% | -26.3% | -36.8% |
| 12/8/2020 | -19.4% | -18.2% | 4.4% |
| 9/9/2020 | -15.2% | 18.1% | 83.5% |
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 12 |
| # Negative | 10 | 12 | 11 |
| Median Positive | 7.4% | 14.3% | 8.6% |
| Median Negative | -15.1% | -14.2% | -21.4% |
| Max Positive | 35.2% | 62.4% | 83.5% |
| Max Negative | -39.4% | -37.4% | -47.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/11/2026 | 10-Q |
| 01/31/2026 | 03/24/2026 | 10-K |
| 10/31/2025 | 12/09/2025 | 10-Q |
| 04/30/2025 | 06/10/2025 | 10-Q |
| 01/31/2025 | 03/25/2025 | 10-K |
| 10/31/2024 | 12/10/2024 | 10-Q |
| 07/31/2024 | 09/10/2024 | 10-Q |
| 04/30/2024 | 06/11/2024 | 10-Q |
| 01/31/2024 | 03/26/2024 | 10-K |
| 10/31/2023 | 12/06/2023 | 10-Q |
| 07/31/2023 | 09/06/2023 | 10-Q |
| 04/30/2023 | 06/07/2023 | 10-Q |
| 01/31/2023 | 03/28/2023 | 10-K |
| 10/31/2022 | 12/07/2022 | 10-Q |
| 07/31/2022 | 09/07/2022 | 10-Q |
| 04/30/2022 | 06/01/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/11/2026 | 10-Q |
| 01/31/2026 | 03/24/2026 | 10-K |
| 10/31/2025 | 12/09/2025 | 10-Q |
| 04/30/2025 | 06/10/2025 | 10-Q |
| 01/31/2025 | 03/25/2025 | 10-K |
| 10/31/2024 | 12/10/2024 | 10-Q |
| 07/31/2024 | 09/10/2024 | 10-Q |
| 04/30/2024 | 06/11/2024 | 10-Q |
| 01/31/2024 | 03/26/2024 | 10-K |
| 10/31/2023 | 12/06/2023 | 10-Q |
| 07/31/2023 | 09/06/2023 | 10-Q |
| 04/30/2023 | 06/07/2023 | 10-Q |
| 01/31/2023 | 03/28/2023 | 10-K |
| 10/31/2022 | 12/07/2022 | 10-Q |
| 07/31/2022 | 09/07/2022 | 10-Q |
| 04/30/2022 | 06/01/2022 | 10-Q |
| 01/31/2022 | 03/17/2022 | 10-K |
| 10/31/2021 | 12/08/2021 | 10-Q |
| 07/31/2021 | 09/08/2021 | 10-Q |
| 04/30/2021 | 06/09/2021 | 10-Q |
| 01/31/2021 | 03/23/2021 | 10-K |
| 10/31/2020 | 12/08/2020 | 10-Q |
| 07/31/2020 | 09/09/2020 | 10-Q |
| 04/30/2020 | 06/09/2020 | 10-Q |
| 01/31/2020 | 03/27/2020 | 10-K |
| 10/31/2019 | 12/11/2019 | 10-Q |
| 07/31/2019 | 09/11/2019 | 10-Q |
| 04/30/2019 | 06/11/2019 | 10-Q |
Insider Activity
Updated 7/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 7062026 | 22.62 | 3,957 | 89,511 | 2,356,882 | Form |
| 2 | Moore, Daniel William | PFO and PAO | Direct | Sell | 7062026 | 22.38 | 7,085 | 158,562 | 2,576,498 | Form |
| 3 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 7062026 | 22.38 | 7,083 | 158,518 | 2,420,330 | Form |
| 4 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 4152026 | 23.19 | 3,912 | 90,715 | 2,672,068 | Form |
| 5 | Moore, Daniel William | PFO and PAO | Direct | Sell | 4032026 | 22.94 | 7,210 | 165,430 | 2,317,716 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 7062026 | 22.62 | 3,957 | 89,511 | 2,356,882 | Form |
| 2 | Moore, Daniel William | PFO and PAO | Direct | Sell | 7062026 | 22.38 | 7,085 | 158,562 | 2,576,498 | Form |
| 3 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 7062026 | 22.38 | 7,083 | 158,518 | 2,420,330 | Form |
| 4 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 4152026 | 23.19 | 3,912 | 90,715 | 2,672,068 | Form |
| 5 | Moore, Daniel William | PFO and PAO | Direct | Sell | 4032026 | 22.94 | 7,210 | 165,430 | 2,317,716 | Form |
| 6 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 4032026 | 22.94 | 7,209 | 165,407 | 2,247,322 | Form |
| 7 | Cheng, Lawrence | by Cheng Capital LLC | Buy | 1262026 | 22.87 | 5,000 | 114,368 | 2,012,886 | Form | |
| 8 | Cohen, Ryan | President, CEO and Chairman | Direct | Buy | 1222026 | 21.60 | 500,000 | 10,800,500 | 828,351,735 | Form |
| 9 | Cohen, Ryan | President, CEO and Chairman | Direct | Buy | 1222026 | 21.12 | 500,000 | 10,558,700 | 799,248,019 | Form |
| 10 | Attal, Alain | Direct | Buy | 1202026 | 20.90 | 12,000 | 250,798 | 12,215,181 | Form | |
| 11 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 1132026 | 21.00 | 12,200 | 256,248 | 2,208,665 | Form |
| 12 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 1062026 | 20.44 | 5,475 | 111,901 | 2,398,572 | Form |
| 13 | Moore, Daniel William | PFO and PAO | Direct | Sell | 1062026 | 20.44 | 5,477 | 111,942 | 2,211,947 | Form |
| 14 | Moore, Daniel William | PFO and PAO | Direct | Sell | 10022025 | 27.58 | 6,509 | 179,534 | 3,106,341 | Form |
| 15 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 10022025 | 27.58 | 4,449 | 122,715 | 3,097,570 | Form |
| 16 | Moore, Daniel William | PFO and PAO | Direct | Sell | 9032025 | 22.68 | 830 | 18,824 | 2,701,846 | Form |
| 17 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 7252025 | 23.81 | 30 | 714 | 2,779,841 | Form |
| 18 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 7252025 | 24.18 | 11,055 | 267,315 | 2,823,823 | Form |
| 19 | Moore, Daniel William | PFO and PAO | Direct | Sell | 7032025 | 23.95 | 721 | 17,268 | 1,171,141 | Form |
| 20 | Robinson, Mark Haymond | General Counsel and Secretary | Direct | Sell | 7032025 | 23.95 | 1,269 | 30,393 | 3,061,698 | Form |
| 21 | Grube, James | Direct | Buy | 7012025 | 23.71 | 5,575 | 132,183 | 697,999 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Computer & Electronics Retail Resources |
| Dealerscope |
| Channel Daily News |
| Twice |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.