Forensic Analysis · Retail / Consumer Discretionary · as of Sep 24, 2026
Gamestop Corp. (GME)
A forensic read on Gamestop Corp. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
8.7
Distress distance
Clean
Earnings quality
4
Forensic signals
12.8
P / E (ttm)
7.7%
ROE
$12.2B
Market cap
-5.1%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Gamestop Corp. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 8.7, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+177.2%
FY2025→FY2026
Accruals ratio (% of NOA).Net operating assets grew +177.2% relative to their own average in FY2026 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 11% of net operating assets, against an accruals ratio of 177.2%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
6.1%
FY2026
Return on invested capital.Return on invested capital is 6.1% in the latest fiscal year, against -3% in FY2024, having run between -5.1% and 6.1% across FY2024–FY2026 with no direction held. The capital base behind it grew +297% across FY2024–FY2026, from $864M to $3.4B, and the return did not fall doing it, so the dollars added over that window earned at least the -3% the older base was already earning.
+34.1%/yr
FY2024–FY2026
Share-count dilution.Diluted share count changed +80% over the last 2 years to FY2026 (+34.1%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~34.1% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~44%.
0.7% of rev
FY2026
Key fundamentals
Latest Revenue$3.63B
Revenue Growth YoY-5.1%
Revenue CAGR (2yr)-17.1%
Net Margin11.5%
Free Cash Flow$597.3M
Return on Equity7.7%
Debt / Equity0.76x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Gamestop Corp.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 24, 2026. Forensic signals flag probability, not certainty.
Stock-based comp load.Stock-based compensation ran 0.7% of revenue and 4% of free cash flow in FY2026 — about $0.05 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 34.2% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.