Latest Ratios: P/E Ratio 16.7x · EV/EBITDA 18.4x · ROE 8.1%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.3B | $13.1B | $10.6B | $4.3B | $6.7B | $7.9B | $21.1B | $336M | $1.2B | $1.7B | $2.5B |
| Enterprise Value | $9.3B | $11.2B | $6.3B | $4.0B | $6.1B | $7.3B | $21.7B | $1.0B | $356M | $1.7B | $2.7B |
| P/E Ratio → | 16.66 | 31.01 | 81.52 | 646.82 | — | — | — | — | — | 49.12 | 7.20 |
| P/S Ratio | 3.17 | 3.61 | 2.78 | 0.82 | 1.12 | 1.32 | 4.15 | 0.05 | 0.14 | 0.20 | 0.32 |
| P/B Ratio | 2.53 | 2.41 | 2.15 | 3.24 | 5.03 | 4.93 | 48.37 | 0.55 | 0.87 | 0.77 | 1.13 |
| P/FCF | 16.38 | 21.95 | 81.92 | — | 127.21 | — | 331.63 | — | 5.01 | 5.30 | 6.45 |
| P/OCF | 18.33 | 21.33 | 72.87 | — | 61.49 | — | 170.78 | — | 3.57 | 3.92 | 4.74 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.08 | 1.64 | 0.76 | 1.03 | 1.21 | 4.26 | 0.16 | 0.04 | 0.20 | 0.34 |
| EV / EBITDA | 18.36 | 36.57 | 493.80 | 185.44 | — | — | — | — | — | 2.97 | 4.15 |
| EV / EBIT | 32.63 | 29.09 | — | — | — | — | — | — | — | 3.79 | 5.57 |
| EV / FCF | — | 18.70 | 48.39 | — | 117.22 | — | 340.08 | — | 1.54 | 5.19 | 6.82 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.4% | 32.4% | 29.1% | 24.5% | 23.1% | 22.4% | 24.7% | 29.5% | 27.9% | 29.1% | 31.4% |
| Operating Margin | 7.9% | 7.9% | -0.7% | -0.7% | -5.3% | -6.1% | -4.7% | -6.2% | -8.5% | 5.1% | 6.0% |
| Net Profit Margin | 11.5% | 11.5% | 3.4% | 0.1% | -5.3% | -6.3% | -4.2% | -7.3% | -8.1% | 0.4% | 4.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.1% | 8.1% | 4.2% | 0.5% | -21.4% | -37.4% | -41.1% | -48.4% | -37.9% | 1.6% | 16.3% |
| ROA | 5.1% | 5.1% | 3.1% | 0.2% | -9.5% | -12.8% | -8.1% | -13.7% | -14.8% | 0.7% | 7.6% |
| ROIC | 10.5% | 10.5% | -2.5% | -2.8% | -26.3% | -28.3% | -15.7% | -32.7% | -38.8% | 14.4% | 16.5% |
| ROCE | 3.8% | 3.8% | -0.8% | -1.9% | -15.9% | -22.5% | -17.5% | -23.2% | -28.2% | 13.9% | 16.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.80 | 0.80 | 0.08 | 0.45 | 0.47 | 0.40 | 2.40 | 1.94 | 0.61 | 0.37 | 0.36 |
| Debt / EBITDA | 14.28 | 14.28 | 32.34 | 27.78 | — | — | — | — | — | 1.45 | 1.26 |
| Net Debt / Equity | — | -0.36 | -0.88 | -0.24 | -0.40 | -0.39 | 1.23 | 1.13 | -0.60 | -0.02 | 0.06 |
| Net Debt / EBITDA | -6.36 | -6.36 | -342.22 | -14.70 | — | — | — | — | — | -0.06 | 0.22 |
| Debt / FCF | — | -3.25 | -33.54 | — | -9.99 | — | 8.45 | — | -3.47 | -0.11 | 0.37 |
| Interest Coverage | — | — | — | — | — | -13.45 | -7.49 | -10.38 | -12.26 | 7.76 | 8.97 |
Net cash position: cash ($6.3B) exceeds total debt ($4.4B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 15.30 | 15.30 | 8.05 | 2.11 | 1.74 | 1.92 | 1.16 | 1.32 | 1.43 | 1.56 | 1.22 |
| Quick Ratio | 14.68 | 14.68 | 7.33 | 1.44 | 1.23 | 1.24 | 0.71 | 0.63 | 0.86 | 0.92 | 0.58 |
| Cash Ratio | 13.77 | 13.77 | 7.18 | 1.28 | 1.04 | 0.94 | 0.38 | 0.40 | 0.74 | 0.44 | 0.38 |
| Asset Turnover | — | 0.35 | 0.65 | 1.95 | 1.90 | 1.72 | 2.06 | 2.29 | 2.05 | 1.70 | 1.60 |
| Inventory Turnover | 6.08 | 6.08 | 5.64 | 6.29 | 6.67 | 5.10 | 6.36 | 5.30 | 4.78 | 4.85 | 4.87 |
| Days Sales Outstanding | — | 4.52 | 5.81 | 6.30 | 9.48 | 8.57 | 7.55 | 8.01 | 5.91 | 5.92 | 10.12 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 0.0% | 12.1% | 13.6% | 9.1% | 6.1% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | 447.3% | 44.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 3.2% | 1.2% | 0.2% | — | — | — | — | — | 2.0% | 13.9% |
| FCF Yield | 6.1% | 4.6% | 1.2% | — | 0.8% | — | 0.3% | — | 20.0% | 18.9% | 15.5% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 59.1% | 0.4% | 1.3% | 2.8% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 71.2% | 14.0% | 10.4% | 8.9% |
| Shares Outstanding | — | $549M | $395M | $305M | $304M | $290M | $260M | $350M | $408M | $406M | $416M |
Includes 30+ ratios · 25 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying GME stock.
GameStop Corp.'s current P/E ratio is 16.7x. The historical average is 21.2x. This places it at the 59th percentile of its historical range.
GameStop Corp.'s current EV/EBITDA is 18.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.3x.
GameStop Corp.'s return on equity (ROE) is 8.1%. The historical average is 1.3%.
Based on historical data, GameStop Corp. is trading at a P/E of 16.7x. This is at the 59th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
GameStop Corp. has 32.4% gross margin and 7.9% operating margin.
GameStop Corp.'s Debt/EBITDA ratio is 14.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Cash hoard masks operational decay
Metrics are mathematically derived from official filings.
Premium Multiple Amidst Secular Decline
GameStop trades at a P/E of 27.47 and an EV/EBITDA of 24.71, representing a significant premium to its specialty retail peer group, implying the market is pricing in a future transformation beyond its shrinking core business.
The valuation multiples are starkly elevated versus peers like Best Buy, which trades at 18x P/E and 9.7x EV/EBITDA, and Barnes & Noble Education at 22.9x P/E and 7.9x EV/EBITDA. This premium appears detached from GameStop's fundamental performance, as its ROE of 5.0% and ROIC of 2.9% are far below Best Buy's 42.8% and 19.6% respectively. The forward P/E of 21.36 suggests some earnings growth is anticipated, but this may reflect expected gains from the cash hoard or one-time items rather than sustainable operational improvement, warranting further investigation into the quality of those earnings.
Margin Surge Masking Core Erosion
Gross margin expanded to a record 43.7% in 2026Q2 from 27.7% in 2024Q1, yet this improvement coincides with an 18.7% year-over-year revenue decline, indicating gains are driven by cost cuts and product mix, not sustainable pricing power.
The dramatic expansion in operating margin to 20.3% from -5.7% two years prior demonstrates the company's success in reducing fixed costs, primarily SG&A. However, the net margin of 37.8% significantly exceeds the operating margin, a pattern that suggests non-operating income, such as interest on the massive cash balance, is now the primary profit driver. This creates a fragile profitability profile where the core retail business may still be losing money on an operating basis, with overall earnings dependent on a shrinking asset base generating investment returns.
Capital Returns Decoupled from Operations
GameStop's ROIC of 2.9% in 2026Q2, while a recovery from negative levels, remains drastically below the cost of capital and its peers, indicating the company's $11.1 billion asset base is generating minimal operational value.
The ROIC trend shows volatility, swinging from -4.0% to a peak of 9.4% in 2024Q4 before settling at 2.9%. This inconsistency is driven more by fluctuations in working capital and non-cash items than by improvements in core operating efficiency, as evidenced by the persistently low asset turnover ratio of 0.07. Compared to Best Buy's robust 19.6% ROIC, GameStop's returns suggest its substantial capital base is not being productively deployed in its core business, but is instead sitting as low-yielding financial assets.
Leverage Constrained by Cash Accumulation
Despite a debt-to-equity ratio of 0.71, GameStop's leverage profile is superficially conservative because the $4.3B in debt is offset by $4.9B in cash, creating a net cash position that obscures the operational reality.
The rapid buildup of debt from under $600M to $4.3B in two years is a significant strategic shift, but the concurrent cash hoard means the company is effectively financing its cash pile. Interest coverage is not provided, but the D/E ratio would be far higher if cash were excluded. This structure suggests management is using low-cost debt to bolster the balance sheet for potential future deployment rather than to fund operational growth, a strategy that may not be sustainable if interest rates rise or the cash is not eventually invested at returns exceeding the cost of debt.
Extreme Liquidity Defies Operating Need
The current ratio of 8.72 and quick ratio of 8.07 are extreme outliers for the retail sector, reflecting a $4.9B cash position that dwarfs its operational needs and creates a distorted view of financial health.
This level of liquidity, holding over six years of operating expenses in cash, is unique among the peer set and indicates a strategic pivot away from reinvesting in the core business. The inventory-to-days-sales metric of 88 days is high and rising, suggesting slowing inventory turnover, which could become a risk if the company is holding obsolete stock. The fortress liquidity position insulates GameStop from any near-term solvency risk but raises questions about capital allocation efficiency and whether shareholders would be better served by dividends or buybacks.
The Misapplied Asset Turnover Metric
The most commonly misapplied ratio for GameStop's current model is asset turnover, as the 0.07 figure makes the company appear catastrophically inefficient while ignoring that the vast majority of its assets are non-operating cash, not retail inventory or property.
Asset turnover measures revenue generated per dollar of total assets, a metric that penalizes companies for holding large cash balances. For GameStop, this ratio is meaningless because the $4.9B cash hoard inflates the denominator without contributing to retail sales, leading to a distorted picture of operational inefficiency. An alternative metric would be sales per dollar of *operating* assets (total assets minus cash and equivalents), which would better reflect the productivity of the actual retail infrastructure. Investors focusing on the headline asset turnover are likely misjudging the remaining efficiency of the core business.