A Business at a Glance
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Corsair Gaming, Inc.
CRSR
$1.0B
Mkt Cap
$9.85
-2.28%
Corsair Gaming, Inc. (CRSR) has a 5-year average return on invested capital (ROIC) of -0.2%. This is below average and may indicate limited pricing power.
Corsair Gaming, Inc. (CRSR) has a market capitalization of $1.1B. It is classified as a small-cap stock.
Corsair Gaming, Inc. (CRSR) does not currently pay a regular dividend.
Corsair Gaming, Inc. (CRSR) operates in the Computer Peripheral Equipment, Nec industry, within the Technology sector.
Corsair Gaming, Inc. (CRSR) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Corsair Gaming, Inc. (CRSR) has a net profit margin of -0.8%. The company is currently unprofitable.
Corsair Gaming, Inc. (CRSR) generated $35 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Corsair Gaming, Inc. (also referred to in this document as “Corsair,” “we,” the “company,” or the “registrant”) is a leading global provider and innovator of high-performance products for gamers and digital creators such as streamers, vloggers and broadcasters. Our industry-leading gaming products help digital athletes, from casual gamers to committed professionals, perform at their peak across personal computer (“PC”), sim racing and console platforms, and our streaming products enable creators, particularly streamers, to produce studio-quality content to share with friends or to broadcast to millions of fans. Our PC components products offer our customers multiple options to build their customized gaming and workstation desktop PCs. We design and sell high-performance gaming and streaming peripherals, components and systems to enthusiasts globally.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.5B | 1.5B | 1.3B | 1.5B | 1.4B | 1.9B |
| Net Income | 9.5M | -12M | -99M | 3.2M | -61M | 101M |
| EPS | $0.08 | $-0.12 | $-0.95 | $0.03 | $-0.63 | $1.01 |
| Free Cash Flow | 45M | 35M | 26M | 76M | 40M | 9.2M |
| ROIC | 2.6% | 0.3% | -12.2% | 1.3% | -7.3% | 16.9% |
| Gross Margin | 30.2% | 28.9% | 24.9% | 24.7% | 21.6% | 27.0% |
| Debt/Equity | 0.18 | 0.30 | 0.39 | 0.37 | 0.47 | 0.54 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 18M | 2.1M | -50M | 9.7M | -55M | 138M |
| Operating Margin | 1.2% | 0.1% | -3.8% | 0.7% | -4.0% | 7.2% |
| ROE | 1.5% | -2.0% | -15.6% | 0.5% | -10.2% | 20.1% |
| Shares Outstanding | 107M | 104M | 104M | 106M | 97M | 100M |
| Metric | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 938M | 1.1B | 1.7B | 1.9B | 1.4B | 1.5B | 1.3B | 1.5B | 1.5B |
| Gross Margin | 20.6% | 20.4% | 27.3% | 27.0% | 21.6% | 24.7% | 24.9% | 28.9% | 30.2% |
| R&D | 32M | 38M | 50M | 60M | 66M | 65M | 68M | 69M | 69M |
| SG&A | 139M | 163M | 257M | 316M | 285M | 285M | 310M | 355M | 353M |
| EBIT | 22M | 24M | 158M | 138M | -55M | 9.7M | -50M | 2.1M | 18M |
| Op. Margin | 2.3% | 2.2% | 9.3% | 7.2% | -4.0% | 0.7% | -3.8% | 0.1% | 1.2% |
| Net Income | -14M | -8.4M | 103M | 101M | -61M | 3.2M | -99M | -12M | 9.5M |
| Net Margin | -1.5% | -0.8% | 6.1% | 5.3% | -4.4% | 0.2% | -7.5% | -0.8% | 0.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | N/A | 5.9% | 20.3% | 16.9% | -7.3% | 1.3% | -12.2% | 0.3% | 2.6% |
| ROE | N/A | -4.4% | 31.6% | 20.1% | -10.2% | 0.5% | -15.6% | -2.0% | 1.5% |
| ROA | N/A | -1.5% | 8.7% | 7.6% | -4.6% | 0.2% | -7.6% | -1.0% | 0.8% |
| Cash Flow | |||||||||
| Op. Cash Flow | 422K | 37M | 169M | 20M | 66M | 89M | 36M | 50M | 61M |
| Free Cash Flow | -7.9M | 28M | 160M | 9.2M | 40M | 76M | 26M | 35M | 45M |
| Owner Earnings | -39M | 20M | 140M | -26M | -6.4M | 23M | -47M | -37M | -26M |
| CapEx | 8.3M | 8.8M | 9.0M | 11M | 26M | 13M | 9.8M | 15M | 16M |
| Maint. CapEx | 37M | 13M | 23M | 29M | 51M | 36M | 52M | 54M | 56M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 37M | 13M | 23M | 29M | 51M | 36M | 52M | 54M | 56M |
| CapEx/OCF | N/A | N/A | 5.3% | 54.3% | 39.6% | 14.3% | 27.5% | 30.7% | 26.1% |
| Capital Allocation | |||||||||
| Dividends Paid | 85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 1.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.8M | 3.8M | 5.8M | 17M | 22M | 31M | 31M | 33M | 30M |
| Debt Repayment | 3.1M | 4.0M | 190M | 328M | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||
| Net Debt | N/A | 454M | 214M | 243M | 141M | 68M | 127M | 92M | 64K |
| Cash & Equiv. | 28M | 52M | 134M | 65M | 154M | 179M | 110M | 99M | 120M |
| Long-Term Debt | N/A | 503M | 321M | 243M | 232M | 186M | 161M | 115M | 114M |
| Debt/Equity | N/A | 2.33 | 0.80 | 0.54 | 0.47 | 0.37 | 0.39 | 0.30 | 0.18 |
| Interest Coverage | 0.7 | 0.7 | 4.5 | 7.8 | -5.7 | 0.6 | -3.8 | 0.2 | 0.2 |
| Equity | N/A | 217M | 437M | 568M | 624M | 668M | 604M | 634M | 648M |
| Total Assets | N/A | 1.1B | 1.3B | 1.3B | 1.3B | 1.4B | 1.2B | 1.3B | 1.2B |
| Total Liabilities | N/A | 843M | 877M | 769M | 642M | 663M | 616M | 608M | 517M |
| Intangibles | N/A | 291M | 259M | 226M | 216M | 188M | 164M | 125M | 115M |
| Retained Earnings | N/A | -106M | -2.8M | 98M | 37M | 40M | -59M | -71M | -59M |
| Working Capital | N/A | 130M | 186M | 259M | 280M | 293M | 227M | 235M | 255M |
| Current Assets | N/A | 430M | 691M | 706M | 623M | 712M | 623M | 665M | 599M |
| Current Liabilities | N/A | 300M | 505M | 447M | 343M | 418M | 396M | 431M | 344M |
| Per Share Data | |||||||||
| EPS | -0.18 | -0.10 | 1.14 | 1.01 | -0.63 | 0.03 | -0.95 | -0.12 | 0.08 |
| Owner EPS | -0.52 | 0.24 | 1.55 | -0.26 | -0.07 | 0.21 | -0.45 | -0.36 | -0.24 |
| Book Value | N/A | 2.58 | 4.83 | 5.68 | 6.45 | 6.28 | 5.79 | 6.10 | 6.06 |
| Cash Flow/Share | 0.01 | 0.44 | 1.87 | 0.20 | 0.69 | 0.84 | 0.34 | 0.48 | 0.61 |
| Dividends/Share | 1.13 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 75.5M | 84.1M | 90.5M | 100.0M | 96.7M | 106.2M | 104.4M | 103.9M | 106.9M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | 34.2 | 21.4 | N/A | 479.3 | N/A | N/A | 117.2 |
| P/FCF | N/A | N/A | 22.1 | 234.4 | 31.5 | 20.0 | 26.3 | 18.2 | 23.3 |
| EV/EBIT | N/A | N/A | 22.7 | 16.6 | N/A | 143.1 | N/A | 273.0 | 58.1 |
| Price/Book | N/A | N/A | 8.1 | 3.8 | 2.0 | 2.3 | 1.1 | 1.0 | 1.6 |
| Price/Sales | N/A | N/A | 1.5 | 1.6 | 1.2 | 1.2 | 0.8 | 0.6 | 0.7 |
| FCF Yield | N/A | N/A | 4.5% | 0.4% | 3.2% | 5.0% | 3.8% | 5.5% | 4.3% |
| Market Cap | 0 | N/A | 3.5B | 2.2B | 1.3B | 1.5B | 683M | 634M | 1.1B |
| Avg. Price | 0.00 | N/A | 29.04 | 30.80 | 16.59 | 15.96 | 9.68 | 8.47 | 9.85 |
| Year-End Price | 0.00 | N/A | 38.96 | 21.62 | 13.04 | 14.38 | 6.55 | 6.10 | 9.85 |
Corsair Gaming, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 30.2x vs a median of 22.1x. The company's 5-year average gross margin is 25.4%. At current prices, the estimated annualized return to fair value is -21.5%.
Corsair Gaming, Inc. (CRSR) has a debt-to-equity ratio of 0.30. This indicates a conservatively financed balance sheet.
Corsair Gaming, Inc. (CRSR) reported earnings per share (EPS) of $-0.12 in its most recent fiscal year.
Corsair Gaming, Inc. (CRSR) has a return on equity (ROE) of -2.0%. A negative ROE may indicate losses or negative equity.
Corsair Gaming, Inc. (CRSR) has a 5-year average gross margin of 25.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 8 years of financial data for Corsair Gaming, Inc. (CRSR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Corsair Gaming, Inc. (CRSR) has a book value per share of $6.10, based on its most recent annual SEC filing.