BID TerminalOpen complete report
Research library Consumer

One Pager

GameStop Corp. GME

Three-pass checkedFresh as companies report

At $18.21 GameStop trades at 1.40x tangible book, near its 52-week low, and $271.5M of its $418.4M in FY2025 net income came from interest on its own cash.

The filings now answer what the balance sheet is for: on May 3, 2026 GameStop offered $125.00 a share, about $55.5B, for eBay, and eBay's board rejected it nine days later.

Key data

ItemValue
Price, 2026-08-21 close$18.21, 2.4% above the $17.79 low
Market capitalization$8.2B
Enterprise value$5.11B
FY2025 revenue$3.63B, down 5.1%
Cash and investments vs total debt$8.37B vs $4.34B, net cash $3.06B
Book value per share$13.03, all tangible, 1.40x price to book
FY2025 gross margin32.4%, up from 23.1% in FY2022
FY2025 operating margin7.9%, $285.9M on $3.63B

GME · price with moving averages

Daily · 6MWeekly · 3Y
$9$15$22$28$35 Sep '23Apr '24Nov '24Jun '25Jan '26Sep '26 BID
EMAs82140

Source: market data.

The business

GameStop sells video games, consoles, accessories, collectibles and trading cards through roughly three thousand mall and strip-center stores, taking cash from consumers at the register and earning a gross margin on each unit. The core software business is structurally impaired because games download now, and the pre-owned trade-in economics that once made this a high-margin retailer left with the disc. Revenue fell from $5.93B to $3.63B in three years, down 38.8%.

What funds the company is no longer the store. Repeated equity issuance into retail enthusiasm, plus convertible notes, built $8.37B of cash and investments against $4.34B of debt at 2026-05-02, and interest on that pile produced $271.5M of FY2025 income. Selling and administrative expense fell 47% to $890.8M, turning a $311.6M FY2022 operating loss into $285.9M of FY2025 operating income. What changed is the bid for eBay.

Inside the complete One Pager

  1. 01The business
  2. 02Things you might not know
  3. 03Fundamentals
  4. 04Valuation
  5. 05Management
  6. 06Compensation
  7. 07The linchpins
  8. 08Last word

Continue with GME

Get the complete One Pager free.

Choose this as your free complete report. No card required.

Read the complete report

More company research

View all research
GameStop Corp. GMEGameStop's operating business inflected in plain sight: collectibles reached 41.8% of Q1 net sales growing 65.0%, gross margin printed 40.7%, and the company called off a two-year store-closure program because the footprint became the asset. Back of Napkin Champion Homes, Inc. SKYYou are paying about $86 for a factory-built housing manufacturer earning roughly $3.42 in normalized EPS, or 25x, for a business that just posted its first quarter of declining gross profit since the 2022 peak worked through the system. Back of Napkin Cavco Industries, Inc. CVCOYou are paying about $562 a share, or 24x trailing earnings and 15x EBITDA, for a manufactured-housing builder whose margins peaked two years ago and have compressed through the latest quarter. Back of Napkin Newell Brands Inc. NWLYou are paying about $6 a share, or roughly $7.9B of enterprise value, for a $7.2B revenue portfolio of tired household brands that earns a low-single-digit free cash flow yield and carries $5.3B of net debt against a stock market cap of $2.5B. The setup turns on whether the Q2 gross-margin snap to 40.7% is the operating leverage a turnaround needs, or a tariff-timing bounce that fades before the debt schedule does. Back of Napkin