Does GameStop Corp. have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores GameStop Corp. (GME) 42.6 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 40, returns on capital 7, balance-sheet safety 100, capital discipline 43.

Is GME stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $0.69 per share versus a recent price of $21.89 — 3054% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has GME's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 42.6 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

GameStop Corp.

GME · Consumer Discretionary · $9.8B mkt cap · FY2026 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power40

Median gross margin 28.5% over 10y, stable.

Returns on capital7

Median ROIC -36.3%, above the 9% hurdle in 20% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline43

Owner earnings +1.4%/yr, share count n/a.

Margin of safety

Above valueOn sale

3054% above value

Owner earnings (normalized): $28.0M
Est. intrinsic value / share: $0.69
Recent price: $21.89
Discount to value: 3054% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

20 years of fundamentals

The business, in plain English

GameStop Corp. booked $3.6B of revenue in FY2026 in the Consumer Discretionary sector and kept 33.0% of it as gross profit — a moderate-margin business by that measure. After every other cost, 11.5% of each revenue dollar reached the bottom line.

Across the filed record, revenue shrank from $7.1B (FY2008) to $3.6B (FY2026) — about −3.7% a year compounded over 18 years.

It earned 7.0% on invested capital in FY2026, with a median of 13.1% across 19 filed years. The Returns on Capital filter above scores it 7/100.

The balance sheet carried $4.2B of total debt in FY2026 against $400.9M of owner earnings — roughly 10.4 years of owner earnings to retire it all. Balance-Sheet Safety scores it 100/100.

The share count rose 173.6% between FY2009 and FY2026 — existing owners have been diluted over the record. Capital Discipline scores it 43/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (100/100) and Returns on Capital the weakest (7/100), which is how GME lands at 43/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$3.6B FY2026

Gross marginRevenue kept after cost of goods33.0% FY2026

Return on invested capitalOperating profit on the capital employed7.0% FY2026

Owner earningsCash an owner could take out$400.9M FY2026

Gaps in a line mean that item isn’t in GME’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale42.6 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — GME has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Consumer Discretionary context

#194 of 340 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

#192SMP STANDARD MOTOR PRODUCTS, INC.42.8 out of 100, Shallow moatShallow moat
#193TH TARGET HOSPITALITY CORP.42.8 out of 100, Shallow moatShallow moat
#195ONEW OneWater Marine Inc.42.5 out of 100, Shallow moatShallow moat
#196MXCT MaxCyte, Inc.42.4 out of 100, Shallow moatShallow moat

Compare GME with its nearest peers →All Consumer Discretionary companies on the Index →

Common questions about GME

Does GameStop Corp. have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores GameStop Corp. (GME) 42.6 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 40, returns on capital 7, balance-sheet safety 100, capital discipline 43.
Is GME stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $0.69 per share versus a recent price of $21.89 — 3054% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has GME's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 42.6 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell GME. See the disclaimer.