A Business at a Glance
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Turtle Beach Corporation’s mission is to deliver the ultimate experience to gamers by providing high-quality, high-performance gaming accessories, including headsets, controllers, keyboards, mice, flight and racing simulation hardware, microphones, and more. For 50 years, Turtle Beach® has been a pioneer and key innovator in audio technology, and today it is one of the most recognized brand names in gaming. Headquartered in San Diego, California, Turtle Beach was incorporated in the state of Nevada in 2010, and the Company’s stock is traded on the Nasdaq Global Market under the symbol TBCH. Per retail sales tracking data from The Circana Group (“Circana”), Turtle Beach has been the market share leader in console gaming headsets for 15-years running with a vast portfolio of headsets designed to be multiplatform compatible with the latest Xbox, PlayStation, and Nintendo consoles, as well as for personal computers (“PCs”) and mobile/tablet devices.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 347M | 373M | 258M | 240M | 366M | 360M |
| Net Income | 18M | 16M | -18M | -60M | 18M | 39M |
| EPS | $0.89 | $0.78 | $-1.03 | $-3.62 | $0.97 | $2.37 |
| Free Cash Flow | 34M | 847K | 25M | -45M | -5.9M | 45M |
| ROIC | 19.4% | 27.7% | -20.8% | -67.0% | 17.3% | 52.1% |
| Gross Margin | 36.2% | 34.6% | 29.3% | 20.5% | 35.0% | 37.2% |
| Debt/Equity | 0.51 | 0.38 | 0.76 | 0.84 | 0.63 | 0.75 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 30M | 20M | -16M | -51M | 20M | 49M |
| Operating Margin | 8.6% | 5.4% | -6.4% | -21.4% | 5.6% | 13.7% |
| ROE | 16.5% | 15.7% | -20.8% | -67.0% | 12.5% | 33.3% |
| Shares Outstanding | 19M | 21M | 17M | 16M | 18M | 16M |
Turtle Beach Corp passes 2 of 9 quality checks, indicating weak fundamentals.
Turtle Beach Corp trades at 12.0x trailing earnings, compared to its 15-year median P/E of 10.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 6.1x vs a median of 6.5x. The company's 5-year average ROIC is 1.9% with a gross margin of 31.3%. Total shareholder yield (buybacks) is 13.4%. At current prices, the estimated annualized return to fair value is -16.9%.
Turtle Beach Corp (TBCH) has a current P/E ratio of 12.0, compared to its historical median P/E of 10.3. The stock is currently considered Fair based on its historical valuation range.
Turtle Beach Corp (TBCH) has a 5-year average return on invested capital (ROIC) of 1.9%. This is below average and may indicate limited pricing power.
Turtle Beach Corp (TBCH) has a market capitalization of $207M. It is classified as a small-cap stock.
Turtle Beach Corp (TBCH) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 13.43%.
Based on historical P/E analysis, Turtle Beach Corp (TBCH) appears fair. The current P/E of 12.0 is 17% above its historical median of 10.3. The estimated fair value CAGR (P/E method) is -17.9%.
Turtle Beach Corp (TBCH) operates in the Communications Equipment, Nec industry, within the Industrials sector.
Turtle Beach Corp (TBCH) reported annual revenue of $373 million in its most recent fiscal year, based on SEC EDGAR filings.
Turtle Beach Corp (TBCH) has a net profit margin of 4.3%. This is a modest margin.
Turtle Beach Corp (TBCH) generated $847 thousand in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Turtle Beach Corp (TBCH) has a debt-to-equity ratio of 0.38. This indicates a conservatively financed balance sheet.
Turtle Beach Corp (TBCH) reported earnings per share (EPS) of $0.78 in its most recent fiscal year.
Turtle Beach Corp (TBCH) has a return on equity (ROE) of 15.7%. This indicates the company generates strong returns for shareholders.
Turtle Beach Corp (TBCH) has a 5-year average gross margin of 31.3%. This indicates decent pricing power.
The Ledger Terminal provides 15 years of financial data for Turtle Beach Corp (TBCH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Turtle Beach Corp (TBCH) has a book value per share of $5.81, based on its most recent annual SEC filing.