Stock CRSR CORSAIR GAMING, INC.
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Financials Corsair Gaming, Inc.

Equities

CRSR

US22041X1028

Computer Hardware

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
11.3 USD +1.53% Intraday chart for Corsair Gaming, Inc. +5.41% -19.86%
Feb. 14 Wedbush Adjusts Corsair Gaming's Price Target to $18 From $21, Keeps Outperform Rating MT
Feb. 14 Barclays Adjusts Price Target on Corsair Gaming to $17 From $20, Maintains Overweight Rating MT

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,329 1,982 1,364 1,452 1,174 - -
Enterprise Value (EV) 1 3,518 2,165 1,453 1,472 1,099 987.6 865.7
P/E ratio 31.8 x 20.8 x -21.5 x 470 x 58.4 x 26.1 x 18.7 x
Yield - - - - - - -
Capitalization / Revenue 1.96 x 1.04 x 0.99 x 0.99 x 0.77 x 0.69 x 0.63 x
EV / Revenue 2.07 x 1.14 x 1.06 x 1.01 x 0.72 x 0.58 x 0.46 x
EV / EBITDA 16.5 x 10.9 x 31.2 x 15.5 x 9.32 x 6.68 x 5.03 x
EV / FCF 22 x 235 x 36.3 x 19.3 x 11.7 x 8.89 x 7.34 x
FCF Yield 4.55% 0.43% 2.76% 5.19% 8.55% 11.2% 13.6%
Price to Book 7.61 x 3.49 x 2.17 x 2.24 x 1.65 x 1.49 x 1.33 x
Nbr of stocks (in thousands) 91,924 94,344 100,534 102,979 103,861 - -
Reference price 2 36.22 21.01 13.57 14.10 11.30 11.30 11.30
Announcement Date 2/9/21 2/8/22 2/9/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 1,702 1,904 1,375 1,460 1,532 1,700 1,876
EBITDA 1 - 213 199.2 46.53 95.06 117.8 147.7 172
EBIT 1 - 204.8 194.5 34.59 85.44 104.3 137.5 164.8
Operating Margin - 12.03% 10.22% 2.52% 5.85% 6.81% 8.08% 8.78%
Earnings before Tax (EBT) 1 - 122 114.6 -63.77 -3.479 23.62 51.79 75.95
Net income 1 -8.394 103.2 101 -60.92 3.187 21.11 47.46 66.85
Net margin - 6.06% 5.3% -4.43% 0.22% 1.38% 2.79% 3.56%
EPS 2 -0.0600 1.140 1.010 -0.6300 0.0300 0.1933 0.4333 0.6050
Free Cash Flow 1 - 160 9.218 40.07 76.39 93.95 111.1 117.9
FCF margin - 9.4% 0.48% 2.91% 5.23% 6.13% 6.53% 6.28%
FCF Conversion (EBITDA) - 75.11% 4.63% 86.13% 80.36% 79.74% 75.2% 68.53%
FCF Conversion (Net income) - 154.98% 9.13% - 2,396.99% 445.01% 234.08% 176.36%
Dividend per Share 2 - - - - - - - -
Announcement Date 8/21/20 2/9/21 2/8/22 2/9/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 391.1 510.6 380.7 283.9 311.8 398.7 354 325.4 363.2 417.3 362.8 334.5 385.4 449.1 415.2
EBITDA 1 27.64 39.53 15.42 -11.02 10.12 32.01 20.56 17.75 23.02 33.72 24.27 19.69 26.98 47.35 30.48
EBIT 1 26.4 38.47 13.32 -14.2 5.907 29.56 18.16 15.85 19.63 31.79 21.61 17.15 23.96 41.59 -
Operating Margin 6.75% 7.53% 3.5% -5% 1.89% 7.41% 5.13% 4.87% 5.4% 7.62% 5.96% 5.13% 6.22% 9.26% -
Earnings before Tax (EBT) 1 2.151 22.46 -4.263 -56 -12.06 8.56 -2.287 -6.366 -2.983 8.157 -0.1988 -3.758 3.114 24.55 8.866
Net income 1 1.777 24.72 -5.134 -59.39 -8.901 12.5 -1.054 1.097 -3.079 6.223 0.478 -2.053 3.441 19.18 -
Net margin 0.45% 4.84% -1.35% -20.92% -2.85% 3.14% -0.3% 0.34% -0.85% 1.49% 0.13% -0.61% 0.89% 4.27% -
EPS 2 0.0200 0.2500 -0.0500 -0.6200 -0.0900 0.1200 -0.0100 0.0100 -0.0300 0.0600 0.006670 -0.0200 0.0300 0.1767 -
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 11/2/21 2/8/22 5/5/22 8/4/22 11/3/22 2/9/23 5/10/23 8/3/23 11/7/23 2/13/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 188 183 88.8 19.9 - - -
Net Cash position 1 - - - - - 75 186 308
Leverage (Debt/EBITDA) - 0.883 x 0.9164 x 1.909 x 0.209 x - - -
Free Cash Flow 1 - 160 9.22 40.1 76.4 94 111 118
ROE (net income / shareholders' equity) - 31.6% 28.8% 3.1% 9.03% 11% 12.6% 12.8%
ROA (Net income/ Total Assets) - 8.7% 10.9% - - - - -
Assets 1 - 1,187 923.7 - - - - -
Book Value Per Share 2 - 4.760 6.010 6.240 6.280 6.840 7.610 8.490
Cash Flow per Share 2 - 1.870 0.2000 0.6900 0.8400 0.2100 0.3900 0.5000
Capex 1 - 8.99 11 26.3 12.8 14.5 14.9 14.4
Capex / Sales - 0.53% 0.58% 1.91% 0.87% 0.95% 0.87% 0.77%
Announcement Date 8/21/20 2/9/21 2/8/22 2/9/23 2/13/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Corsair Gaming, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
11.3 USD
Average target price
15.86 USD
Spread / Average Target
+40.33%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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