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GameStop cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$60.7M in Q2 FY27 · $688M over twelve months

Operating cash flow$62.4M
Capital spending−$1.7M
Free cash flow+$60.7M
Cash / net income0.2×
Cash conversion cycle48 days

Analysis

In Q2 FY27, GameStop generated $62.4M of operating cash flow and spent $1.7M on capital projects, leaving free cash flow of $60.7M.

Over the twelve months to Aug 1, 2026, operating cash flow was $705M; the largest uses were other investing ($4.5B), capital spending ($16.7M), taxes on employees’ shares ($10.8M); besides operations, cash came from other financing ($3.8M), asset & business sales ($3.0M); the cash balance fell by $3.9B.

Operating cash flow was $62.4M against net income of $299M — 0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$37.8M, inventory −$19.2M, payables +$7.5M.

Its cash conversion cycle was 48 days (receivables 9 + inventory 88 − payables 49).

Free cash flow

GameStop: free cash flow by quarterGameStop: free cash flow by quarter$20.0MQ3 FY25$159MQ4 FY25$190MQ1 FY26$113MQ2 FY26$107MQ3 FY26$187MQ4 FY26$333MQ1 FY27$60.7MQ2 FY27
Operating cash flow less capital spending.
GameStop: operating cash flow against capital spendingGameStop: operating cash flow against capital spendingOperating cash flowCapital spending$24.6M$4.6MQ3 FY25$162M$3.5MQ4 FY25$192M$2.9MQ1 FY26$117M$4.1MQ2 FY26$111M$4.3MQ3 FY26$194M$6.2MQ4 FY26$337M$4.5MQ1 FY27$62.4M$1.7MQ2 FY27
Latest (Q2 FY27): Operating cash flow $62.4M, Capital spending $1.7M.

Capital allocation, year by year

GameStop: where the cash came from (up) and went (down), by fiscal yearGameStop: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY22: Operating cash flow −$434MFY22: Net borrowing −$332MFY22: Shares issued $1.7BFY22: Capital spending −$62.0M$1.7BFY22FY23: Operating cash flow $108MFY23: Net borrowing −$3.9MFY23: Capital spending −$55.9M$108MFY23FY24: Operating cash flow −$204MFY24: Net borrowing −$10.7MFY24: Asset sales $13.1MFY24: Capital spending −$34.9M$13.1MFY24FY25: Operating cash flow $146MFY25: Shares issued $3.5BFY25: Asset sales $15.3MFY25: Capital spending −$16.1M$3.6BFY25FY26: Operating cash flow $615MFY26: Net borrowing $4.2BFY26: Asset sales −$100KFY26: Capital spending −$17.5M$4.8BFY26
Over these 5 years operating cash flow totalled $231M; the largest uses were operating cash flow ($638M) and net borrowing ($347M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.1B
Debt$4.2B
Net cash$896M

GameStop funds itself: free cash flow was $688M over the last twelve months, and $5.1B of cash and investments stands against $4.2B of debt.

Where the cash came from and went

GameStop: sources (+) and uses (−) of cash, Q2 FY27GameStop: sources (+) and uses (−) of cash, Q2 FY27Other investing−$2.6BCash drawn (+) / kept (−)$2.5BOperating cash flow$62.4MExchange rates$3.5MTaxes on employees’ shares−$2.6MCapital spending−$1.7MOther financing$1.2M
GameStop: sources (+) and uses (−) of cash, TTM to Q2 FY27GameStop: sources (+) and uses (−) of cash, TTM to Q2 FY27Other investing−$4.5BCash drawn (+) / kept (−)$3.9BOperating cash flow$705MCapital spending−$16.7MNot reconciled−$13.4MTaxes on employees’ shares−$10.8MExchange rates$9.0MOther financing$3.8MAsset & business sales$3.0M

From profit to cash

GameStop: net income to operating cash flow, Q2 FY27GameStop: net income to operating cash flow, Q2 FY27Net income$299MStock-based pay$7.3MImpairments−$2.3MGains on disposals$300KReceivables−$37.8MInventory−$19.2MPayables$7.5MPrepaid and other assets$1.3MOther liabilities$3.0MOperating cash flow$62.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY279884948
Q1 FY276763844
Q4 FY264623333
Q3 FY266885638
Q2 FY264603232
Q1 FY267863359
Q4 FY254653237
Q3 FY2561055457

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$62.4M−$1.7M——$2.5B$60.7M
Q1 FY27$337M−$4.5M$1.4M—−$1.1B$333M
Q4 FY26$194M−$6.2M——$1.5B$187M
Q3 FY26$111M−$4.3M——$868M$107M
Q2 FY26$117M−$4.1M$2.7B—−$2.3B$113M
Q1 FY26$192M−$2.9M$1.5B—−$1.6B$190M
Q4 FY25$162M−$3.5M—−$14.7M−$173M$159M
Q3 FY25$24.6M−$4.6M—$398M−$400M$20.0M

GameStop: income statement and cash flow

GameStop, Q2 FY27: revenue $790M (-19% year over year), operating margin 20.3%. The chart follows the revenue to costs, profit and cash.

GameStop: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.