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Corsair Gaming
(NASDAQ:CRSR)
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Rating:62Neutral
Price Target:
$9.50
▲(46.60% Upside)
Action:Downgraded
Date:06/19/26
The score is primarily supported by improving financial stability (low leverage) and better cash generation, plus an earnings call that highlighted strong margin/EBITDA progress and ongoing buybacks. These positives are tempered by very high valuation (P/E ~166.9), still-thin profitability and uneven revenue, and mixed technical momentum.
Positive Factors
De‑risked balance sheet
A materially de‑risked balance sheet with very low net debt strengthens financial flexibility for 2–6 months and beyond. It reduces refinancing and interest rate risk, supports continued buybacks or opportunistic M&A, and provides a buffer through cyclical gaming hardware demand swings.
Negative Factors
Semiconductor & memory headwinds
Dependency on memory and semiconductor supply/pricing creates a structural drag on the Components & Systems segment. Prolonged weak ASPs or constrained supply can compress margins and defer upgrade cycles, limiting sustainable revenue and profit recovery over the 2–6 month horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
De‑risked balance sheet
A materially de‑risked balance sheet with very low net debt strengthens financial flexibility for 2–6 months and beyond. It reduces refinancing and interest rate risk, supports continued buybacks or opportunistic M&A, and provides a buffer through cyclical gaming hardware demand swings.
Read all positive factors
Corsair Gaming Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Corsair Gaming is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Corsair Gaming is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyCorsair Gaming (CRSR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.00B
Dividend YieldN/A
Average Volume (3M)2.06M
Price to Earnings (P/E)103.7
Beta (1Y)2.37
Revenue Growth8.03%
EPS GrowthN/A
CountryUS
Employees2,355
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)0.09
Shares Outstanding106,882,210
10 Day Avg. Volume1,192,062
30 Day Avg. Volume2,062,661
Financial Highlights & Ratios
PEG Ratio0.57
Price to Book (P/B)0.99
Price to Sales (P/S)0.43
P/FCF Ratio18.12
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$8.57Price Target Upside32.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.7
Revenue Forecast (FY)$1.43B
Corsair Gaming Business Overview & Revenue Model
Company 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 Ameri...
How the Company Makes Money
Corsair primarily makes money by selling branded gaming and PC-performance products through retail, e-commerce, and distribution channels to end customers (gamers, PC enthusiasts, and content creators) and channel partners. Its revenue is mainly g...
Corsair Gaming Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial progress: record gross margin, double-digit adjusted EBITDA margin, EPS turnaround, cash generation, reduced net debt, share repurchases, and clear product/market momentum (Stream Deck/Elgato, Wave Next, Fanatec). Offsetting these positives are durable industry headwinds — semiconductor shortages, memory pricing dynamics, tariff impacts and a near-term revenue guide that implies modest year-over-year decline. Overall, the company demonstrated meaningful margin and profitability improvements while acknowledging external constraints that could temper near-term top-line growth.Positive Updates
Revenue and Top-Line
Q1 revenue of $354.5 million, coming in above the midpoint of guidance.
Negative Updates
Gaming Components & Systems Revenue Decline
Gaming Components and Systems revenue declined 10% year-over-year due to a non-GPU upgrade cycle and challenging memory pricing dynamics.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and Top-Line
Q1 revenue of $354.5 million, coming in above the midpoint of guidance.
Read all positive updates
Company Guidance
Corsair guided Q2 2026 net revenue of $295M–$320M, adjusted EBITDA of $12.5M–$15.5M and non‑GAAP EPS of $0.05–$0.07 (implying roughly a ~4% YoY revenue decline at the midpoint), with expected low‑teens YoY growth in Gamer & Creator Peripherals offset by continued weakness in Gaming Components & Systems due to semiconductor shortages and a normal seasonal sequential revenue decline; management expects adjusted EBITDA to grow >70% YoY at the midpoint, reaffirmed full‑year guidance, and framed this outlook against Q1 results of $354.5M revenue (above guidance midpoint), $116M gross profit and a record 32.7% gross margin, $35.8M adjusted EBITDA (10.1% margin), $0.27 non‑GAAP EPS ($0.11 GAAP), Gamer & Creator mix at 35% (up from 30%), DTC at 20% of revenue (up from 17%), segment gross profits of $50.3M (40.8% margin) and $65.7M (28.4% margin, +670 bps), $29.7M cash from operations, $119.7M cash and restricted cash, near‑zero net debt, and ~$5M of share repurchases under a $50M authorization.Corsair Gaming Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
82
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.46B | 1.47B | 1.32B | 1.46B | 1.38B | 1.90B |
| Gross Profit | 439.55M | 425.88M | 327.60M | 360.26M | 296.63M | 513.85M |
| EBITDA | 71.57M | 51.39M | 3.45M | 64.64M | -683.00K | 172.42M |
| Net Income | 5.43M | -12.46M | -85.18M | -2.59M | -54.39M | 100.96M |
Balance Sheet | ||||||
| Total Assets | 1.18B | 1.25B | 1.24B | 1.36B | 1.30B | 1.34B |
| Cash, Cash Equivalents and Short-Term Investments | 118.15M | 98.58M | 107.01M | 175.62M | 151.18M | 62.41M |
| Total Debt | 6.12M | 121.34M | 237.04M | 246.50M | 295.17M | 308.26M |
| Total Liabilities | 516.53M | 608.03M | 616.38M | 663.48M | 641.81M | 769.22M |
| Stockholders Equity | 647.64M | 633.56M | 604.30M | 667.58M | 623.84M | 568.18M |
Cash Flow | ||||||
| Free Cash Flow | 45.13M | 34.75M | 26.03M | 76.39M | 40.07M | 9.22M |
| Operating Cash Flow | 61.10M | 50.12M | 35.88M | 89.15M | 66.39M | 20.19M |
| Investing Cash Flow | -15.97M | -15.37M | -52.70M | -26.98M | -47.03M | -20.54M |
| Financing Cash Flow | -31.94M | -48.87M | -50.68M | -37.39M | 72.61M | -65.40M |
Corsair Gaming Technical Analysis
Positive
6.48
Price Trends
8.77
Positive
7.33
Positive
6.91
Positive
Market Momentum
0.21
Negative
53.55
Neutral
75.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRSR, the sentiment is Positive. The current price of 6.48 is below the 20-day moving average (MA) of 9.14, below the 50-day MA of 8.77, and below the 200-day MA of 6.91, indicating a bullish trend. The MACD of 0.21 indicates Negative momentum. The RSI at 53.55 is Neutral, neither overbought nor oversold. The STOCH value of 75.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRSR.
Corsair Gaming Risk Analysis
Corsair Gaming disclosed 63 risk factors in its most recent earnings report. Corsair Gaming reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Corsair Gaming Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $986.52M | 13.31 | 21.37% | 10.80% | -0.31% | 10.31% | |
65 Neutral | $302.18M | 39.51 | 18.31% | ― | -2.54% | ― | |
62 Neutral | $1.00B | 103.65 | 0.87% | ― | 8.03% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $458.99M | 5.98 | 26.66% | ― | -10.16% | ― | |
55 Neutral | $705.75M | -6.07 | -13.44% | ― | -2.96% | 10.37% |
* Technology Sector Average
CRSR
Corsair Gaming
9.36
-0.11
-1.16%
DDD
3D Systems
2.81
1.09
63.37%
SSYS
Stratasys
8.19
-2.84
-25.75%
OSS
One Stop Systems
12.20
6.11
100.33%
CRCT
Cricut Inc
4.70
-0.36
-7.04%
Corsair Gaming Corporate Events
Executive/Board ChangesShareholder Meetings
Corsair Gaming Shareholders Back Directors and Auditor at Meeting
Positive
Jun 18, 2026
Corsair Gaming, Inc. held its 2026 Annual Meeting of Stockholders on June 16, 2026, conducted virtually, with 96,162,303 of 106,879,647 eligible common shares represented in person or by proxy. Shareholders elected Class III directors Thi L. La an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.