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CORSAIR GAMING INC (CRSR) Stock Fundamental Analysis

NASDAQ:CRSR - Nasdaq - US22041X1028 - Common Stock - Currency: USD

9.01  +0.04 (+0.45%)

After market: 8.7581 -0.25 (-2.8%)

Fundamental Rating

4

Overall CRSR gets a fundamental rating of 4 out of 10. We evaluated CRSR against 32 industry peers in the Technology Hardware, Storage & Peripherals industry. While CRSR seems to be doing ok healthwise, there are quite some concerns on its profitability. CRSR has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

CRSR had negative earnings in the past year.
In the past year CRSR had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: CRSR reported negative net income in multiple years.
Each year in the past 5 years CRSR had a positive operating cash flow.
CRSR Yearly Net Income VS EBIT VS OCF VS FCFCRSR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M 150M

1.2 Ratios

The Return On Assets of CRSR (-7.80%) is comparable to the rest of the industry.
CRSR has a Return On Equity (-15.89%) which is in line with its industry peers.
Industry RankSector Rank
ROA -7.8%
ROE -15.89%
ROIC N/A
ROA(3y)-4.16%
ROA(5y)0.58%
ROE(3y)-8.57%
ROE(5y)3.13%
ROIC(3y)N/A
ROIC(5y)N/A
CRSR Yearly ROA, ROE, ROICCRSR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

With a Gross Margin value of 25.45%, CRSR perfoms like the industry average, outperforming 40.63% of the companies in the same industry.
In the last couple of years the Gross Margin of CRSR has grown nicely.
The Profit Margin and Operating Margin are not available for CRSR so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 25.45%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.67%
GM growth 5Y4.01%
CRSR Yearly Profit, Operating, Gross MarginsCRSR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 10 20

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5

2. Health

2.1 Basic Checks

CRSR does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, CRSR has more shares outstanding
The number of shares outstanding for CRSR has been increased compared to 5 years ago.
CRSR has a better debt/assets ratio than last year.
CRSR Yearly Shares OutstandingCRSR Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
CRSR Yearly Total Debt VS Total AssetsCRSR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

CRSR has an Altman-Z score of 2.02. This is not the best score and indicates that CRSR is in the grey zone with still only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.02, CRSR perfoms like the industry average, outperforming 56.25% of the companies in the same industry.
The Debt to FCF ratio of CRSR is 2.11, which is a good value as it means it would take CRSR, 2.11 years of fcf income to pay off all of its debts.
CRSR has a Debt to FCF ratio of 2.11. This is amongst the best in the industry. CRSR outperforms 81.25% of its industry peers.
CRSR has a Debt/Equity ratio of 0.22. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of CRSR (0.22) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 2.11
Altman-Z 2.02
ROIC/WACCN/A
WACC8.51%
CRSR Yearly LT Debt VS Equity VS FCFCRSR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M

2.3 Liquidity

CRSR has a Current Ratio of 1.52. This is a normal value and indicates that CRSR is financially healthy and should not expect problems in meeting its short term obligations.
CRSR has a Current ratio (1.52) which is comparable to the rest of the industry.
A Quick Ratio of 0.85 indicates that CRSR may have some problems paying its short term obligations.
CRSR has a Quick ratio (0.85) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.52
Quick Ratio 0.85
CRSR Yearly Current Assets VS Current LiabilitesCRSR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

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4

3. Growth

3.1 Past

CRSR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -103.77%.
Looking at the last year, CRSR shows a decrease in Revenue. The Revenue has decreased by -6.53% in the last year.
CRSR shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.71% yearly.
EPS 1Y (TTM)-103.77%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%22.22%
Revenue 1Y (TTM)-6.53%
Revenue growth 3Y-11.58%
Revenue growth 5Y3.71%
Sales Q2Q%9.63%

3.2 Future

The Earnings Per Share is expected to grow by 195.53% on average over the next years. This is a very strong growth
CRSR is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.73% yearly.
EPS Next Y1366.08%
EPS Next 2Y354.74%
EPS Next 3Y195.53%
EPS Next 5YN/A
Revenue Next Year14.35%
Revenue Next 2Y12.03%
Revenue Next 3Y10.73%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
CRSR Yearly Revenue VS EstimatesCRSR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
CRSR Yearly EPS VS EstimatesCRSR Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 1

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for CRSR. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 12.06, the valuation of CRSR can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CRSR indicates a somewhat cheap valuation: CRSR is cheaper than 62.50% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of CRSR to the average of the S&P500 Index (22.13), we can say CRSR is valued slightly cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 12.06
CRSR Price Earnings VS Forward Price EarningsCRSR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -100 -200 -300 -400

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CRSR is valued a bit more expensive than the industry average as 62.50% of the companies are valued more cheaply.
Based on the Price/Free Cash Flow ratio, CRSR is valued cheaper than 87.50% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.53
EV/EBITDA 95.89
CRSR Per share dataCRSR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
CRSR's earnings are expected to grow with 195.53% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y354.74%
EPS Next 3Y195.53%

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0

5. Dividend

5.1 Amount

No dividends for CRSR!.
Industry RankSector Rank
Dividend Yield N/A

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CORSAIR GAMING INC

NASDAQ:CRSR (5/29/2025, 8:00:00 PM)

After market: 8.7581 -0.25 (-2.8%)

9.01

+0.04 (+0.45%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)05-06 2025-05-06/amc
Earnings (Next)07-30 2025-07-30/amc
Inst Owners33.55%
Inst Owner Change10.83%
Ins Owners0.58%
Ins Owner Change0.19%
Market Cap953.44M
Analysts78.33
Price Target12.24 (35.85%)
Short Float %7.37%
Short Ratio3.23
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)12.69%
Min EPS beat(2)-11.84%
Max EPS beat(2)37.22%
EPS beat(4)1
Avg EPS beat(4)-199.32%
Min EPS beat(4)-578.4%
Max EPS beat(4)37.22%
EPS beat(8)2
Avg EPS beat(8)-106.27%
EPS beat(12)5
Avg EPS beat(12)-356.17%
EPS beat(16)6
Avg EPS beat(16)-270.62%
Revenue beat(2)1
Avg Revenue beat(2)1.76%
Min Revenue beat(2)-1.01%
Max Revenue beat(2)4.54%
Revenue beat(4)1
Avg Revenue beat(4)-2.41%
Min Revenue beat(4)-11.76%
Max Revenue beat(4)4.54%
Revenue beat(8)2
Avg Revenue beat(8)-2.59%
Revenue beat(12)4
Avg Revenue beat(12)-2.52%
Revenue beat(16)6
Avg Revenue beat(16)-2.43%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)-16.92%
EPS NQ rev (3m)-16.92%
EPS NY rev (1m)-4.09%
EPS NY rev (3m)-4.09%
Revenue NQ rev (1m)-0.52%
Revenue NQ rev (3m)-0.52%
Revenue NY rev (1m)-1.5%
Revenue NY rev (3m)-1.5%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 12.06
P/S 0.71
P/FCF 13.53
P/OCF 11.78
P/B 1.57
P/tB 9.65
EV/EBITDA 95.89
EPS(TTM)-0.02
EYN/A
EPS(NY)0.75
Fwd EY8.29%
FCF(TTM)0.67
FCFY7.39%
OCF(TTM)0.76
OCFY8.49%
SpS12.75
BVpS5.75
TBVpS0.93
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -7.8%
ROE -15.89%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 25.45%
FCFM 5.22%
ROA(3y)-4.16%
ROA(5y)0.58%
ROE(3y)-8.57%
ROE(5y)3.13%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.67%
GM growth 5Y4.01%
F-Score4
Asset Turnover1.09
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 2.11
Debt/EBITDA 13.05
Cap/Depr 20.02%
Cap/Sales 0.78%
Interest Coverage N/A
Cash Conversion 774.44%
Profit Quality N/A
Current Ratio 1.52
Quick Ratio 0.85
Altman-Z 2.02
F-Score4
WACC8.51%
ROIC/WACCN/A
Cap/Depr(3y)31.17%
Cap/Depr(5y)27.74%
Cap/Sales(3y)1.18%
Cap/Sales(5y)0.93%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-103.77%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%22.22%
EPS Next Y1366.08%
EPS Next 2Y354.74%
EPS Next 3Y195.53%
EPS Next 5YN/A
Revenue 1Y (TTM)-6.53%
Revenue growth 3Y-11.58%
Revenue growth 5Y3.71%
Sales Q2Q%9.63%
Revenue Next Year14.35%
Revenue Next 2Y12.03%
Revenue Next 3Y10.73%
Revenue Next 5YN/A
EBIT growth 1Y-2533.1%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year141.13%
EBIT Next 3Y59.51%
EBIT Next 5YN/A
FCF growth 1Y-19.68%
FCF growth 3Y41.25%
FCF growth 5Y-1.6%
OCF growth 1Y-29.18%
OCF growth 3Y21.1%
OCF growth 5Y-0.67%