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CORSAIR GAMING INC (CRSR) Stock Fundamental Analysis

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

9  +0.77 (+9.29%)

After market: 9 0 (0%)

Fundamental Rating

4

Taking everything into account, CRSR scores 4 out of 10 in our fundamental rating. CRSR was compared to 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.
CRSR had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: CRSR reported negative net income in multiple years.
CRSR had a positive operating cash flow in each of the past 5 years.
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

CRSR has a Return On Assets of -7.80%. This is comparable to the rest of the industry: CRSR outperforms 46.88% of its industry peers.
The Return On Equity of CRSR (-15.89%) is comparable to the rest of the industry.
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

Looking at the Gross Margin, with a value of 25.45%, CRSR is in line with its industry, outperforming 40.63% of the companies in the same industry.
CRSR's Gross Margin has improved in the last couple of years.
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.
CRSR has more shares outstanding than it did 1 year ago.
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 1.94. 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.
CRSR has a Altman-Z score of 1.94. This is comparable to the rest of the industry: CRSR outperforms 56.25% of its industry peers.
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's Debt to FCF ratio of 2.11 is amongst the best of 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.
Looking at the Debt to Equity ratio, with a value of 0.22, CRSR is in line with its industry, outperforming 59.38% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 2.11
Altman-Z 1.94
ROIC/WACCN/A
WACC8.54%
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.
With a Current ratio value of 1.52, CRSR perfoms like the industry average, outperforming 46.88% of the companies in the same 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.
Measured over the past years, CRSR shows a small growth in Revenue. The Revenue has been growing by 3.71% on average per year.
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
The Revenue is expected to grow by 10.73% on average over the next years. This is quite good.
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

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

CRSR reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
With a Price/Forward Earnings ratio of 12.05, CRSR is valued correctly.
Based on the Price/Forward Earnings ratio, CRSR is valued a bit cheaper than the industry average as 62.50% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of CRSR to the average of the S&P500 Index (22.20), we can say CRSR is valued slightly cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 12.05
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.
90.63% of the companies in the same industry are more expensive than CRSR, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 13.52
EV/EBITDA 88.04
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

CRSR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as CRSR's earnings are expected to grow with 195.53% in the coming years.
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 (5/27/2025, 8:12:33 PM)

After market: 9 0 (0%)

9

+0.77 (+9.29%)

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 Cap952.38M
Analysts78.33
Price Target12.24 (36%)
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 12.05
P/S 0.71
P/FCF 13.52
P/OCF 11.77
P/B 1.56
P/tB 9.64
EV/EBITDA 88.04
EPS(TTM)-0.02
EYN/A
EPS(NY)0.75
Fwd EY8.3%
FCF(TTM)0.67
FCFY7.4%
OCF(TTM)0.76
OCFY8.5%
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 1.94
F-Score4
WACC8.54%
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%