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TURTLE BEACH CORP (TBCH) Stock Fundamental Analysis

NASDAQ:TBCH - Nasdaq - US9004502061 - Common Stock - Currency: USD

14.62  +0.79 (+5.71%)

Fundamental Rating

5

Taking everything into account, TBCH scores 5 out of 10 in our fundamental rating. TBCH was compared to 32 industry peers in the Technology Hardware, Storage & Peripherals industry. Both the profitability and the financial health of TBCH get a neutral evaluation. Nothing too spectacular is happening here. TBCH has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year TBCH was profitable.
In the past year TBCH had a positive cash flow from operations.
In multiple years TBCH reported negative net income over the last 5 years.
The reported operating cash flow has been mixed in the past 5 years: TBCH reported negative operating cash flow in multiple years.
TBCH Yearly Net Income VS EBIT VS OCF VS FCFTBCH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M

1.2 Ratios

TBCH's Return On Assets of 6.22% is fine compared to the rest of the industry. TBCH outperforms 78.13% of its industry peers.
TBCH's Return On Equity of 12.71% is amongst the best of the industry. TBCH outperforms 81.25% of its industry peers.
The Return On Invested Capital of TBCH (13.24%) is better than 71.88% of its industry peers.
Industry RankSector Rank
ROA 6.22%
ROE 12.71%
ROIC 13.24%
ROA(3y)-14.26%
ROA(5y)-3.22%
ROE(3y)-24.76%
ROE(5y)-5.71%
ROIC(3y)N/A
ROIC(5y)N/A
TBCH Yearly ROA, ROE, ROICTBCH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100 -100 200 300 400

1.3 Margins

Looking at the Profit Margin, with a value of 4.03%, TBCH is in the better half of the industry, outperforming 65.63% of the companies in the same industry.
In the last couple of years the Profit Margin of TBCH has declined.
With a decent Operating Margin value of 7.97%, TBCH is doing good in the industry, outperforming 71.88% of the companies in the same industry.
In the last couple of years the Operating Margin of TBCH has grown nicely.
TBCH has a Gross Margin of 35.34%. This is in the better half of the industry: TBCH outperforms 68.75% of its industry peers.
TBCH's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.97%
PM (TTM) 4.03%
GM 35.34%
OM growth 3Y14.14%
OM growth 5Y13.32%
PM growth 3Y-3.5%
PM growth 5Y-10.66%
GM growth 3Y-0.42%
GM growth 5Y0.63%
TBCH Yearly Profit, Operating, Gross MarginsTBCH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 -40

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so TBCH is still creating some value.
Compared to 1 year ago, TBCH has more shares outstanding
Compared to 5 years ago, TBCH has more shares outstanding
The debt/assets ratio for TBCH is higher compared to a year ago.
TBCH Yearly Shares OutstandingTBCH Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M
TBCH Yearly Total Debt VS Total AssetsTBCH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2.2 Solvency

TBCH has an Altman-Z score of 2.94. This is not the best score and indicates that TBCH is in the grey zone with still only limited risk for bankruptcy at the moment.
TBCH has a Altman-Z score of 2.94. This is in the better half of the industry: TBCH outperforms 75.00% of its industry peers.
TBCH has a debt to FCF ratio of 3.65. This is a good value and a sign of high solvency as TBCH would need 3.65 years to pay back of all of its debts.
The Debt to FCF ratio of TBCH (3.65) is better than 78.13% of its industry peers.
A Debt/Equity ratio of 0.43 indicates that TBCH is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.43, TBCH is in line with its industry, outperforming 53.13% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.43
Debt/FCF 3.65
Altman-Z 2.94
ROIC/WACC1.2
WACC11.02%
TBCH Yearly LT Debt VS Equity VS FCFTBCH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M

2.3 Liquidity

TBCH has a Current Ratio of 1.96. This is a normal value and indicates that TBCH is financially healthy and should not expect problems in meeting its short term obligations.
TBCH's Current ratio of 1.96 is fine compared to the rest of the industry. TBCH outperforms 65.63% of its industry peers.
A Quick Ratio of 0.95 indicates that TBCH may have some problems paying its short term obligations.
With a Quick ratio value of 0.95, TBCH perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.96
Quick Ratio 0.95
TBCH Yearly Current Assets VS Current LiabilitesTBCH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 2150.00% over the past year.
TBCH shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.11% yearly.
Looking at the last year, TBCH shows a very strong growth in Revenue. The Revenue has grown by 45.03%.
TBCH shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.69% yearly.
EPS 1Y (TTM)2150%
EPS 3Y-11.84%
EPS 5Y6.11%
EPS Q2Q%-92.86%
Revenue 1Y (TTM)45.03%
Revenue growth 3Y0.58%
Revenue growth 5Y9.69%
Sales Q2Q%14.42%

3.2 Future

The Earnings Per Share is expected to grow by 21.12% on average over the next years. This is a very strong growth
TBCH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.06% yearly.
EPS Next Y10.6%
EPS Next 2Y27.28%
EPS Next 3Y21.12%
EPS Next 5YN/A
Revenue Next Year-7.65%
Revenue Next 2Y2.41%
Revenue Next 3Y4.06%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
TBCH Yearly Revenue VS EstimatesTBCH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
TBCH Yearly EPS VS EstimatesTBCH Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 21.50, which indicates a rather expensive current valuation of TBCH.
Based on the Price/Earnings ratio, TBCH is valued a bit cheaper than the industry average as 62.50% of the companies are valued more expensively.
TBCH's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.15.
TBCH is valuated correctly with a Price/Forward Earnings ratio of 12.19.
Compared to the rest of the industry, the Price/Forward Earnings ratio of TBCH indicates a somewhat cheap valuation: TBCH is cheaper than 71.88% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.60, TBCH is valued a bit cheaper.
Industry RankSector Rank
PE 21.5
Fwd PE 12.19
TBCH Price Earnings VS Forward Price EarningsTBCH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

TBCH's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. TBCH is cheaper than 87.50% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of TBCH indicates a somewhat cheap valuation: TBCH is cheaper than 75.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 20.17
EV/EBITDA 7.23
TBCH Per share dataTBCH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates TBCH does not grow enough to justify the current Price/Earnings ratio.
A more expensive valuation may be justified as TBCH's earnings are expected to grow with 21.12% in the coming years.
PEG (NY)2.03
PEG (5Y)3.52
EPS Next 2Y27.28%
EPS Next 3Y21.12%

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0

5. Dividend

5.1 Amount

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

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TURTLE BEACH CORP

NASDAQ:TBCH (7/1/2025, 12:27:59 PM)

14.62

+0.79 (+5.71%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)05-08 2025-05-08/amc
Earnings (Next)08-06 2025-08-06/amc
Inst Owners68.17%
Inst Owner ChangeN/A
Ins Owners15.71%
Ins Owner Change4.92%
Market Cap294.59M
Analysts81.82
Price Target18.05 (23.46%)
Short Float %18.96%
Short Ratio7.54
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-7.31%
Min EPS beat(2)-15.85%
Max EPS beat(2)1.23%
EPS beat(4)3
Avg EPS beat(4)-1.32%
Min EPS beat(4)-15.85%
Max EPS beat(4)5.75%
EPS beat(8)5
Avg EPS beat(8)14.52%
EPS beat(12)6
Avg EPS beat(12)1.13%
EPS beat(16)9
Avg EPS beat(16)43.15%
Revenue beat(2)1
Avg Revenue beat(2)-2.41%
Min Revenue beat(2)-6.18%
Max Revenue beat(2)1.36%
Revenue beat(4)3
Avg Revenue beat(4)1.78%
Min Revenue beat(4)-6.18%
Max Revenue beat(4)6.13%
Revenue beat(8)5
Avg Revenue beat(8)-0.11%
Revenue beat(12)6
Avg Revenue beat(12)-2.2%
Revenue beat(16)9
Avg Revenue beat(16)-0.33%
PT rev (1m)-21.33%
PT rev (3m)-20.75%
EPS NQ rev (1m)-84.31%
EPS NQ rev (3m)-4077.78%
EPS NY rev (1m)-46.93%
EPS NY rev (3m)-46.91%
Revenue NQ rev (1m)-2.69%
Revenue NQ rev (3m)-27.68%
Revenue NY rev (1m)-5.76%
Revenue NY rev (3m)-18.07%
Valuation
Industry RankSector Rank
PE 21.5
Fwd PE 12.19
P/S 0.77
P/FCF 20.17
P/OCF 15.54
P/B 2.44
P/tB 9.8
EV/EBITDA 7.23
EPS(TTM)0.68
EY4.65%
EPS(NY)1.2
Fwd EY8.2%
FCF(TTM)0.72
FCFY4.96%
OCF(TTM)0.94
OCFY6.43%
SpS18.9
BVpS6
TBVpS1.49
PEG (NY)2.03
PEG (5Y)3.52
Profitability
Industry RankSector Rank
ROA 6.22%
ROE 12.71%
ROCE 17.39%
ROIC 13.24%
ROICexc 14.15%
ROICexgc 30.49%
OM 7.97%
PM (TTM) 4.03%
GM 35.34%
FCFM 3.84%
ROA(3y)-14.26%
ROA(5y)-3.22%
ROE(3y)-24.76%
ROE(5y)-5.71%
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 3Y8.48%
ROICexcg growth 5Y8.82%
ROICexc growth 3Y-6.43%
ROICexc growth 5Y0.82%
OM growth 3Y14.14%
OM growth 5Y13.32%
PM growth 3Y-3.5%
PM growth 5Y-10.66%
GM growth 3Y-0.42%
GM growth 5Y0.63%
F-Score8
Asset Turnover1.54
Health
Industry RankSector Rank
Debt/Equity 0.43
Debt/FCF 3.65
Debt/EBITDA 1.2
Cap/Depr 33.35%
Cap/Sales 1.14%
Interest Coverage 3.49
Cash Conversion 43.67%
Profit Quality 95.07%
Current Ratio 1.96
Quick Ratio 0.95
Altman-Z 2.94
F-Score8
WACC11.02%
ROIC/WACC1.2
Cap/Depr(3y)49.58%
Cap/Depr(5y)72.48%
Cap/Sales(3y)1.21%
Cap/Sales(5y)1.35%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)2150%
EPS 3Y-11.84%
EPS 5Y6.11%
EPS Q2Q%-92.86%
EPS Next Y10.6%
EPS Next 2Y27.28%
EPS Next 3Y21.12%
EPS Next 5YN/A
Revenue 1Y (TTM)45.03%
Revenue growth 3Y0.58%
Revenue growth 5Y9.69%
Sales Q2Q%14.42%
Revenue Next Year-7.65%
Revenue Next 2Y2.41%
Revenue Next 3Y4.06%
Revenue Next 5YN/A
EBIT growth 1Y382.66%
EBIT growth 3Y14.8%
EBIT growth 5Y24.3%
EBIT Next Year108.64%
EBIT Next 3Y34.3%
EBIT Next 5YN/A
FCF growth 1Y537.34%
FCF growth 3YN/A
FCF growth 5Y-53.13%
OCF growth 1Y3768.57%
OCF growth 3YN/A
OCF growth 5Y-31.91%