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CRSR

Corsair GamingNasdaqGS:CRSR Stock Report

Last Price

US$19.38

Market Cap

US$1.8b

7D

-4.0%

1Y

-49.6%

Updated

26 Jan, 2022

Data

Company Financials +
CRSR fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance6/6
Financial Health5/6
Dividends0/6

CRSR Stock Overview

Corsair Gaming, Inc., together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific.

Corsair Gaming Competitors

Dell Technologies

NYSE:DELL

US$42.3b

HP

NYSE:HPQ

US$37.9b

Turtle Beach

NasdaqGM:HEAR

US$301.0m

Microsoft

NasdaqGS:MSFT

US$2.2t

Price History & Performance

Summary of all time highs, changes and price drops for Corsair Gaming
Historical stock prices
Current Share PriceUS$19.38
52 Week HighUS$49.60
52 Week LowUS$17.68
Beta0
1 Month Change-13.41%
3 Month Change-20.21%
1 Year Change-49.57%
3 Year Changen/a
5 Year Changen/a
Change since IPO36.00%

Recent News & Updates

Jan 24

Corsair Gaming: The Bounce Back

Corsair gaming has been on a downward spiral since its epic short squeeze in February of last year. It is already down 18% YTD on a price of around $17. Major concerns from investors include a post-COVID reduction in demand for gaming and streaming and global supply chain shortages of gaming chips and high freight costs, hurting its operating margin. These concerns are short-lived and Corsair will continue its high-growth trajectory fueled by the epic growth in the overall gaming and streaming markets. Corsair will bounce back by following its strategy of pushing its GCAP products to market-leading positions, leveraging its brand strategy, and increasing its DTC channels.

Shareholder Returns

CRSRUS TechUS Market
7D-4.0%-5.8%-5.1%
1Y-49.6%11.3%3.3%

Return vs Industry: CRSR underperformed the US Tech industry which returned 12.7% over the past year.

Return vs Market: CRSR underperformed the US Market which returned 4.2% over the past year.

Price Volatility

Is CRSR's price volatile compared to industry and market?
CRSR volatility
CRSR Average Weekly Movement5.4%
Tech Industry Average Movement8.7%
Market Average Movement6.7%
10% most volatile stocks in US Market15.4%
10% least volatile stocks in US Market2.4%

Stable Share Price: CRSR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: CRSR's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19942,411Andy Paulhttps://www.corsair.com

Corsair Gaming, Inc., together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software. It also provides gaming components and systems comprising power supply units, cooling solutions, computer cases, and DRAM modules, as well as prebuilt and custom-built gaming PCs, and others; and PC gaming software comprising iCUE for gamers and Elgato’s streaming suite for content creators.

Corsair Gaming Fundamentals Summary

How do Corsair Gaming's earnings and revenue compare to its market cap?
CRSR fundamental statistics
Market CapUS$1.83b
Earnings (TTM)US$119.29m
Revenue (TTM)US$1.95b

15.3x

P/E Ratio

0.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CRSR income statement (TTM)
RevenueUS$1.95b
Cost of RevenueUS$1.40b
Gross ProfitUS$547.34m
ExpensesUS$428.05m
EarningsUS$119.29m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 08, 2022

Earnings per share (EPS)1.26
Gross Margin28.07%
Net Profit Margin6.12%
Debt/Equity Ratio46.3%

How did CRSR perform over the long term?

See historical performance and comparison

Valuation

Is Corsair Gaming undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CRSR ($19.38) is trading below our estimate of fair value ($62.75)

Significantly Below Fair Value: CRSR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CRSR is poor value based on its PE Ratio (15.3x) compared to the US Tech industry average (11.9x).

PE vs Market: CRSR is good value based on its PE Ratio (15.3x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: CRSR is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: CRSR is overvalued based on its PB Ratio (3.4x) compared to the US Tech industry average (1.7x).


Future Growth

How is Corsair Gaming forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

17.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRSR's forecast earnings growth (17.4% per year) is above the savings rate (2%).

Earnings vs Market: CRSR's earnings (17.4% per year) are forecast to grow faster than the US market (13% per year).

High Growth Earnings: CRSR's earnings are forecast to grow, but not significantly.

Revenue vs Market: CRSR's revenue (6.3% per year) is forecast to grow slower than the US market (9.1% per year).

High Growth Revenue: CRSR's revenue (6.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CRSR's Return on Equity is forecast to be high in 3 years time (36%)


Past Performance

How has Corsair Gaming performed over the past 5 years?

64.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRSR has high quality earnings.

Growing Profit Margin: CRSR's current net profit margins (6.1%) are higher than last year (4.5%).


Past Earnings Growth Analysis

Earnings Trend: CRSR's earnings have grown significantly by 64.9% per year over the past 5 years.

Accelerating Growth: CRSR's earnings growth over the past year (80.2%) exceeds its 5-year average (64.9% per year).

Earnings vs Industry: CRSR earnings growth over the past year (80.2%) exceeded the Tech industry 57.5%.


Return on Equity

High ROE: CRSR's Return on Equity (22.2%) is considered high.


Financial Health

How is Corsair Gaming's financial position?


Financial Position Analysis

Short Term Liabilities: CRSR's short term assets ($708.1M) exceed its short term liabilities ($475.6M).

Long Term Liabilities: CRSR's short term assets ($708.1M) exceed its long term liabilities ($329.1M).


Debt to Equity History and Analysis

Debt Level: CRSR's net debt to equity ratio (32.9%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if CRSR's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: CRSR's debt is well covered by operating cash flow (37.7%).

Interest Coverage: CRSR's interest payments on its debt are well covered by EBIT (7.7x coverage).


Balance Sheet


Dividend

What is Corsair Gaming current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CRSR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CRSR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CRSR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CRSR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CRSR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average management tenure


CEO

Andy Paul (64 yo)

28yrs

Tenure

US$2,796,433

Compensation

Mr. Andrew J. Paul, also known as Andy, has been the Chief Executive Officer at Corsair Components, Inc. since 1994 and serves as its Director since September 2018 and served as its President since 1994 un...


CEO Compensation Analysis

Compensation vs Market: Andy's total compensation ($USD2.80M) is about average for companies of similar size in the US market ($USD3.74M).

Compensation vs Earnings: Andy's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: CRSR's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

Experienced Board: CRSR's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.6%.


Top Shareholders

Company Information

Corsair Gaming, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Corsair Gaming, Inc.
  • Ticker: CRSR
  • Exchange: NasdaqGS
  • Founded: 1994
  • Industry: Technology Hardware, Storage and Peripherals
  • Sector: Tech
  • Implied Market Cap: US$1.828b
  • Shares outstanding: 94.34m
  • Website: https://www.corsair.com

Number of Employees


Location

  • Corsair Gaming, Inc.
  • 47100 Bayside Parkway
  • Fremont
  • California
  • 94538
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/26 01:06
End of Day Share Price2022/01/25 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.