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CORSAIR GAMING INC (CRSR) Stock Fundamental Analysis

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

11.82  -0.71 (-5.67%)

After market: 11.8 -0.02 (-0.17%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to CRSR. CRSR was compared to 32 industry peers in the Technology Hardware, Storage & Peripherals industry. The financial health of CRSR is average, but there are quite some concerns on its profitability. CRSR is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year CRSR has reported negative net income.
CRSR had a positive operating cash flow in the past year.
In multiple years CRSR reported negative net income over the last 5 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

Looking at the Return On Assets, with a value of -8.02%, CRSR is doing worse than 67.74% of the companies in the same industry.
CRSR has a Return On Equity (-16.41%) which is comparable to the rest of the industry.
Industry RankSector Rank
ROA -8.02%
ROE -16.41%
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 24.89%, CRSR is not doing good in the industry: 61.29% of the companies in the same industry are doing better.
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 24.89%
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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4

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.
CRSR has more shares outstanding than it did 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

An Altman-Z score of 2.26 indicates that CRSR is not a great score, but indicates only limited risk for bankruptcy at the moment.
CRSR has a Altman-Z score (2.26) which is in line with its industry peers.
CRSR has a debt to FCF ratio of 6.69. This is a slightly negative value and a sign of low solvency as CRSR would need 6.69 years to pay back of all of its debts.
CRSR's Debt to FCF ratio of 6.69 is fine compared to the rest of the industry. CRSR outperforms 70.97% of its industry peers.
CRSR has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.27, CRSR is doing good in the industry, outperforming 61.29% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 6.69
Altman-Z 2.26
ROIC/WACCN/A
WACC8.39%
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

A Current Ratio of 1.57 indicates that CRSR should not have too much problems paying its short term obligations.
CRSR has a Current ratio (1.57) which is in line with its industry peers.
CRSR has a Quick Ratio of 1.57. This is a bad value and indicates that CRSR is not financially healthy enough and could expect problems in meeting its short term obligations.
CRSR's Quick ratio of 0.92 is in line compared to the rest of the industry. CRSR outperforms 41.94% of its industry peers.
Industry RankSector Rank
Current Ratio 1.57
Quick Ratio 0.92
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 -107.27%.
CRSR shows a decrease in Revenue. In the last year, the revenue decreased by -9.83%.
CRSR shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.71% yearly.
EPS 1Y (TTM)-107.27%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%4.55%
Revenue 1Y (TTM)-9.83%
Revenue growth 3Y-11.58%
Revenue growth 5Y3.71%
Sales Q2Q%-0.88%

3.2 Future

Based on estimates for the next years, CRSR will show a very strong growth in Earnings Per Share. The EPS will grow by 197.63% on average per year.
The Revenue is expected to grow by 11.55% on average over the next years. This is quite good.
EPS Next Y1420.06%
EPS Next 2Y365.5%
EPS Next 3Y197.63%
EPS Next 5YN/A
Revenue Next Year16.1%
Revenue Next 2Y13.21%
Revenue Next 3Y11.55%
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 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 1

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for CRSR. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 22.39, CRSR is valued on the expensive side.
CRSR's Price/Forward Earnings ratio is in line with the industry average.
CRSR's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.70.
Industry RankSector Rank
PE N/A
Fwd PE 22.39
CRSR Price Earnings VS Forward Price EarningsCRSR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -100 -200

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CRSR indicates a slightly more expensive valuation: CRSR is more expensive than 61.29% of the companies listed in the same industry.
CRSR's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 47.73
EV/EBITDA 669.95
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.
CRSR's earnings are expected to grow with 197.63% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y365.5%
EPS Next 3Y197.63%

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0

5. Dividend

5.1 Amount

CRSR does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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CORSAIR GAMING INC

NASDAQ:CRSR (2/21/2025, 8:10:58 PM)

After market: 11.8 -0.02 (-0.17%)

11.82

-0.71 (-5.67%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)02-12 2025-02-12/amc
Earnings (Next)05-05 2025-05-05/amc
Inst Owners33.55%
Inst Owner Change-89.27%
Ins Owners0.58%
Ins Owner Change0.19%
Market Cap1.24B
Analysts78.33
Price Target12.24 (3.55%)
Short Float %9.33%
Short Ratio4.57
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)-270.59%
Min EPS beat(2)-578.4%
Max EPS beat(2)37.22%
EPS beat(4)1
Avg EPS beat(4)-205.7%
Min EPS beat(4)-578.4%
Max EPS beat(4)37.22%
EPS beat(8)3
Avg EPS beat(8)-103.3%
EPS beat(12)5
Avg EPS beat(12)-359.71%
EPS beat(16)7
Avg EPS beat(16)-265.4%
Revenue beat(2)1
Avg Revenue beat(2)1.57%
Min Revenue beat(2)-1.39%
Max Revenue beat(2)4.54%
Revenue beat(4)1
Avg Revenue beat(4)-4.37%
Min Revenue beat(4)-11.76%
Max Revenue beat(4)4.54%
Revenue beat(8)2
Avg Revenue beat(8)-2.65%
Revenue beat(12)4
Avg Revenue beat(12)-3.16%
Revenue beat(16)7
Avg Revenue beat(16)-1.4%
PT rev (1m)35.48%
PT rev (3m)15.07%
EPS NQ rev (1m)32.68%
EPS NQ rev (3m)7.68%
EPS NY rev (1m)0.52%
EPS NY rev (3m)0.52%
Revenue NQ rev (1m)-1.7%
Revenue NQ rev (3m)-2.54%
Revenue NY rev (1m)2.55%
Revenue NY rev (3m)2.07%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 22.39
P/S 0.94
P/FCF 47.73
P/OCF 34.49
P/B 2.05
P/tB 14.43
EV/EBITDA 669.95
EPS(TTM)-0.04
EYN/A
EPS(NY)0.53
Fwd EY4.47%
FCF(TTM)0.25
FCFY2.1%
OCF(TTM)0.34
OCFY2.9%
SpS12.57
BVpS5.77
TBVpS0.82
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -8.02%
ROE -16.41%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 24.89%
FCFM 1.97%
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 Turnover1.07
Health
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 6.69
Debt/EBITDA 83.02
Cap/Depr 19.17%
Cap/Sales 0.76%
Interest Coverage N/A
Cash Conversion 1846.47%
Profit Quality N/A
Current Ratio 1.57
Quick Ratio 0.92
Altman-Z 2.26
F-Score4
WACC8.39%
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)-107.27%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%4.55%
EPS Next Y1420.06%
EPS Next 2Y365.5%
EPS Next 3Y197.63%
EPS Next 5YN/A
Revenue 1Y (TTM)-9.83%
Revenue growth 3Y-11.58%
Revenue growth 5Y3.71%
Sales Q2Q%-0.88%
Revenue Next Year16.1%
Revenue Next 2Y13.21%
Revenue Next 3Y11.55%
Revenue Next 5YN/A
EBIT growth 1Y-619.06%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year148.45%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-66.06%
FCF growth 3Y41.25%
FCF growth 5Y-1.6%
OCF growth 1Y-59.76%
OCF growth 3Y21.1%
OCF growth 5Y-0.67%