Technology · Computer Hardware
Price
$8.61
Market Cap
$920.3M
Employees
2,567
Beta
1.82
Avg Volume
2,330,909
CEO
Thi L. La
Business Description
Corsair Gaming, Inc., operating with its subsidiaries, specializes in the development, promotion, and global distribution of high-performance hardware and software for the gaming and live-streaming communities. Its extensive reach covers the Americas, Europe, the Middle East, and the Asia Pacific region. The company's product lineup features a broad range of peripherals for gamers and content creators, including specialized keyboards, precision mice, immersive headsets, and versatile controllers. For streamers, it offers essential tools such as video capture devices, customizable stream decks, professional USB microphones, studio accessories, and the EpocCam software. Furthermore, Corsair supplies critical PC components and complete system solutions, encompassing power supply units, advanced cooling systems, diverse computer cases, and high-speed DRAM modules. This also extends to providing both pre-assembled and custom-built gaming PCs. Complementing its hardware, the company develops proprietary software like iCUE for optimizing gaming experiences and Elgato's integrated suite for streamers and content creators. Beyond products, Corsair delivers additional services, including coaching and training. Its sales strategy leverages a wide network of distributors and retailers, including major online platforms, in addition to direct sales to consumers via its own corporate website. Incorporated in 1994, Corsair Gaming, Inc. is headquartered in Fremont, California, and functions as a subsidiary of Corsair Group (Cayman), LP.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-71.75
Stock Price: $8.61
EPS (Diluted): -0.12
EPS (Diluted): -0.12
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.99
Stock Price: $8.61
Total Equity: $633.56M
Shares: 106,005,000
Total Equity: $633.56M
Shares: 106,005,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
12.70
Market Cap: $920.25M
Total Debt: $121.34M
Cash: $98.58M
EBITDA: $51.39M
Total Debt: $121.34M
Cash: $98.58M
EBITDA: $51.39M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$652.4M
Market Cap: $920.25M
Total Debt: $121.34M
Cash: $98.58M
Total Debt: $121.34M
Cash: $98.58M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.43
Stock Price: $8.61
Revenue: $1.47B
Shares: 106,005,000
Revenue: $1.47B
Shares: 106,005,000
EV/Sales (Total value vs revenue — works when P/E can't)
API0.44
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
28.9%
Gross Profit: $425.88M
Revenue: $1.47B
Revenue: $1.47B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
0.1%
Operating Income: $2.08M
Revenue: $1.47B
Revenue: $1.47B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-0.8%
Net Income: -$12.47M
Revenue: $1.47B
Revenue: $1.47B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-2.0%
Net Income: -$12.47M
Total Equity: $633.56M
Total Equity: $633.56M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
0.4%
Operating Income: $2.08M
Tax Rate: -23.2%
Equity: $633.56M
Total Debt: $121.34M
Cash: $98.58M
Tax Rate: -23.2%
Equity: $633.56M
Total Debt: $121.34M
Cash: $98.58M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.54
Current Assets: $665.46M
Current Liabilities: $430.94M
Current Liabilities: $430.94M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.19
Short-Term Debt: $6.12M
Long-Term Debt: $115.22M
Total Debt: $121.34M
Total Equity: $633.56M
Long-Term Debt: $115.22M
Total Debt: $121.34M
Total Equity: $633.56M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$13.89
Revenue: $1.47B
Shares: 106,005,000
Shares: 106,005,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$5.98
Total Equity: $633.56M
Shares: 106,005,000
Shares: 106,005,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.33
Operating CF: $50.12M
CapEx: -$15.37M
Shares: 106,005,000
CapEx: -$15.37M
Shares: 106,005,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $8.61
Stock Price: $8.61
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$12.47M
Net Income: -$12.47M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CRSR against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 9:52pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.9B | $1.4B | $1.5B | $1.3B | $1.5B |
| Cost of Revenue | $1.4B | $1.1B | $1.1B | $988.8M | $1.0B |
| Gross Profit | $513.9M | $296.6M | $360.3M | $327.6M | $425.9M |
| Operating Expenses | $376.0M | $351.4M | $350.6M | $377.6M | $423.8M |
| Operating Income | $137.9M | -$54.8M | $9.7M | -$50.0M | $2.1M |
| Net Income | $101.0M | -$54.4M | -$2.6M | -$85.2M | -$12.5M |
| EBITDA | $172.4M | $-683,000 | $64.6M | $3.4M | $51.4M |
| EPS | $1.08 | $-0.63 | $0.03 | $-0.95 | $-0.12 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 9:52pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $62.4M | $151.2M | $175.6M | $107.0M | $98.6M |
| Total Current Assets | $705.8M | $622.8M | $711.6M | $623.4M | $665.5M |
| Total Assets | $1.3B | $1.3B | $1.4B | $1.2B | $1.3B |
| Current Liabilities | $446.7M | $343.0M | $418.5M | $396.3M | $430.9M |
| Long-Term Debt | $242.9M | $232.2M | $186.0M | $161.3M | $115.2M |
| Total Liabilities | $769.2M | $641.8M | $663.5M | $616.4M | $608.0M |
| Total Equity | $568.2M | $623.8M | $667.6M | $604.3M | $633.6M |
| Retained Earnings | $98.1M | $37.2M | $40.4M | -$58.8M | -$71.2M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 9:52pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $20.2M | $66.4M | $89.2M | $35.9M | $50.1M |
| Capital Expenditure | -$11.0M | -$26.3M | -$12.8M | -$9.8M | -$15.4M |
| Free Cash Flow | $9.2M | $40.1M | $76.4M | $26.0M | $34.7M |
| Acquisitions (net) | -$4.8M | -$19.5M | -$14.2M | -$42.1M | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$68.2M | $88.7M | $24.5M | -$68.9M | -$10.8M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 1:30am (8h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$1.5B $1.4B – $1.5B
|
$1.4B $1.4B – $1.5B
|
$1.5B $1.5B – $1.5B
|
$1.6B $1.6B – $1.7B
|
| EBITDA |
$50.0M $49.4M – $50.7M
|
$49.0M $48.1M – $50.0M
|
$52.0M $51.0M – $53.1M
|
$56.5M $55.4M – $57.6M
|
| Net Income |
$48.2M $47.2M – $49.3M
|
$74.5M $71.3M – $77.7M
|
$81.9M $80.2M – $83.6M
|
$85.4M $83.3M – $87.6M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 9:52pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -27.8% | +6.2% | -9.8% | +11.9% |
| Gross Profit Growth | -42.3% | +21.5% | -9.1% | +30.0% |
| Operating Income Growth | -139.7% | +117.7% | -615.6% | +104.2% |
| Net Income Growth | -153.9% | +95.2% | -3,188.8% | +85.4% |
| EBITDA Growth | -100.4% | +9,564.0% | -94.7% | +1,391.3% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for CRSR — it's generated by the pipeline (
market-narrative step).
No community reviews yet for CRSR.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30