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CORSAIR GAMING INC (CRSR) Stock Fundamental Analysis

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

7.44  +0.34 (+4.79%)

After market: 7.49 +0.05 (+0.67%)

Fundamental Rating

3

Taking everything into account, CRSR scores 3 out of 10 in our fundamental rating. CRSR was compared to 32 industry peers in the Technology Hardware, Storage & Peripherals industry. CRSR may be in some trouble as it scores bad on both profitability and health. CRSR has a correct valuation and a medium growth rate.


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.
In the past 5 years CRSR always reported a positive cash flow from operatings.
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 (-8.02%) is comparable to the rest of the industry.
CRSR has a Return On Equity (-16.41%) which is in line with its industry peers.
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

CRSR has a Gross Margin of 24.89%. This is comparable to the rest of the industry: CRSR outperforms 40.63% of its industry peers.
CRSR's Gross Margin has improved in the last couple of years.
CRSR does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
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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3

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.
Compared to 1 year ago, CRSR has an improved debt to assets ratio.
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 1.79. This is a bad value and indicates that CRSR is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 1.79, CRSR perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
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.
Looking at the Debt to FCF ratio, with a value of 6.69, CRSR is in the better half of the industry, outperforming 78.13% of the companies in the same industry.
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 65.63% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 6.69
Altman-Z 1.79
ROIC/WACCN/A
WACC8.28%
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 comparable to the rest of the industry.
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 has a Quick ratio (0.92) which is in line with 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

The earnings per share for CRSR have decreased strongly by -107.27% in the last year.
Looking at the last year, CRSR shows a decrease in Revenue. The Revenue has decreased by -9.83% in the last year.
The Revenue has been growing slightly by 3.71% on average over the past years.
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

The Earnings Per Share is expected to grow by 197.63% on average over the next years. This is a very strong growth
Based on estimates for the next years, CRSR will show a quite strong growth in Revenue. The Revenue will grow by 11.55% on average per year.
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 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 1

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for CRSR. In the last year negative earnings were reported.
A Price/Forward Earnings ratio of 14.09 indicates a correct valuation of CRSR.
The rest of the industry has a similar Price/Forward Earnings ratio as CRSR.
When comparing the Price/Forward Earnings ratio of CRSR to the average of the S&P500 Index (21.38), we can say CRSR is valued slightly cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 14.09
CRSR Price Earnings VS Forward Price EarningsCRSR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -50 -100 -150

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as CRSR.
CRSR's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. CRSR is cheaper than 62.50% of the companies in the same industry.
Industry RankSector Rank
P/FCF 30.09
EV/EBITDA 416.19
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.
A more expensive valuation may be justified as CRSR's earnings are expected to grow with 197.63% in the coming years.
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 (4/25/2025, 7:01:54 PM)

After market: 7.49 +0.05 (+0.67%)

7.44

+0.34 (+4.79%)

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)04-30 2025-04-30/amc
Inst Owners33.55%
Inst Owner Change0.37%
Ins Owners0.58%
Ins Owner Change0.19%
Market Cap780.16M
Analysts78.33
Price Target12.24 (64.52%)
Short Float %7.96%
Short Ratio2.96
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)0%
PT rev (3m)35.48%
EPS NQ rev (1m)0%
EPS NQ rev (3m)32.68%
EPS NY rev (1m)0%
EPS NY rev (3m)0.52%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.7%
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.55%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 14.09
P/S 0.59
P/FCF 30.09
P/OCF 21.75
P/B 1.29
P/tB 9.1
EV/EBITDA 416.19
EPS(TTM)-0.04
EYN/A
EPS(NY)0.53
Fwd EY7.1%
FCF(TTM)0.25
FCFY3.32%
OCF(TTM)0.34
OCFY4.6%
SpS12.55
BVpS5.76
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 1.79
F-Score4
WACC8.28%
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 Year149.93%
EBIT Next 3Y61.72%
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%