GameStop Corp. shares have left the S&P 500 in the dust in 2021, generating a year-to-date total return of 1,060 percent. GameStop’s stock has had a wild ride in 2021, but investors may be wondering whether there’s any value left in GameStop shares. Earnings A price-to-earnings ratio (PE) is one of the most basic fundamental metrics for gauging a stock’s value. The lower the PE, the higher the value. For comparison, the S&P 500’s PE is currently at about 29, nearly double its long-term average of 15.9. GameStop doesn’t currently have a PE ratio because the company is not profitable. In the most recent quarter, GameStop reported a $61.6 million net loss. Growth Looking ahead to the next four quarters, the S&P 500’s forward PE ratio looks much more reasonable at just 20.6. GameStop’s forward earnings multiple of 1,481.9 is more than 70 times higher than the S&P 500’s, making …