Corsair Gaming (CRSR) AI Stock Analysis

• Market Cap: $957.68M
• Dividend Yield: N/A
• Average Volume (3M): 767.43K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.79
• Revenue Growth: -6.53%
• EPS Growth: -1059.95%
• Country: US
• Employees: 2,567
• Sector: Technology
• Sector Strength: 84
• Industry: Computer Hardware
• EPS (TTM): 0.11
• Shares Outstanding: 105,821,144
• 10 Day Avg. Volume: 590,531
• 30 Day Avg. Volume: 767,434
• PEG Ratio: 0.16
• Price to Book (P/B): 2.09
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 32.60
• Enterprise Value/Market Cap: 1.51
• Enterprise Value/Revenue: 0.27
• Enterprise Value/Gross Profit: 4.22
• Enterprise Value/Ebitda: 28.63
• 1Y Price Target: $11.00
• Price Target Upside: 21.55% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 67 Neutral
• Price Target: $10.50 ▲(16.02%Upside)

Corsair Gaming shows a mixed financial picture with profitability challenges but strong technical momentum. The earnings call indicates positive growth and strategic initiatives, though valuation concerns and tariff uncertainties remain risks.

Positive Factors

Component Demand and System Upgrades

The latest GPU cycle is driving growth in the components segment, as a slew of high-quality games requiring robust system upgrades entice DIY game system builders to overhaul their setups.

Financial Performance

Corsair reported Q1 results that beat estimates and consensus on revenue.

Partnerships and Game Releases

Corsair launched quality partnerships for key peripherals and should benefit from a year of decent game releases.

Negative Factors

Tariff Impact

Significant uncertainty remains on whether reciprocal tariffs re-emerge on other APAC countries where Corsair has sourcing exposure and what impact tariffs may have on consumer spending.

Tariff Uncertainty

Corsair withdrew its FY:25 guidance for revenue of $1.4 – 1.6 billion and Adjusted EBITDA of $80 – 100 million due to significant uncertainty on whether reciprocal tariffs re-emerge on other APAC countries where Corsair has sourcing exposure.

Corsair Gaming Business Overview & Revenue Model

Company Description

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 streamers and content creators. In addition, the company offers coaching and training, and other services. It sells its products through a network of distributors and retailers, including online retailers, as well as directly to consumers through its website. The company was incorporated in 1994 and is headquartered in Fremont, California. Corsair Gaming, Inc. is a subsidiary of Corsair Group (Cayman), LP.

How the Company Makes Money

Corsair Gaming generates revenue through the sale of its diverse range of products across several key categories. The primary revenue streams include gaming peripherals, which encompass products like keyboards, mice, and headsets, and PC components, including cases, power supplies, and cooling solutions. Another significant revenue source is the company's memory products, which are essential for high-performance computing and gaming. Corsair also capitalizes on the growing market for streaming and content creation by offering products like capture cards and lighting solutions. The company sells its products through various distribution channels, including direct-to-consumer sales via its website, partnerships with major retailers, and collaborations with e-commerce platforms. Additionally, Corsair benefits from strategic partnerships and sponsorships within the gaming and esports industries, further bolstering its brand visibility and market reach.

Corsair Gaming Financial Statement Overview

Summary

Corsair Gaming faces profitability challenges with declining revenues and negative net income. However, a stable balance sheet with low leverage and positive cash flow trends indicate potential recovery.

Income Statement

Corsair Gaming's income statement reveals a challenging environment with declining revenues and negative net income for the TTM period. The gross profit margin stands at 25.45% and the net profit margin is -6.67%, indicating profitability issues. Revenue growth is negative compared to previous years, reflecting a downward trend. The negative EBIT and EBITDA margins further highlight operational inefficiencies.

Balance Sheet

The balance sheet shows a relatively stable equity position with an equity ratio of 49.11%, suggesting good financial health. The debt-to-equity ratio is low at 0.02, indicating manageable debt levels. However, the return on equity is negative due to consistent net losses, which is a concern for investors seeking profitability.

Cash Flow

Cash flow analysis shows a positive operating cash flow of $80.94 million in the TTM period, supporting liquidity. Free cash flow has improved significantly, with a growth rate of 171% compared to the previous year, reflecting effective cash management. However, the operating cash flow to net income ratio is high due to negative net income, suggesting reliance on non-operational factors.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
1.35B	1.32B	1.46B	1.38B	1.90B	1.70B
	Gross Profit
343.32M	327.60M	360.26M	296.63M	513.85M	465.43M
	EBIT
-42.00M	-49.95M	9.69M	-54.79M	137.89M	158.36M
	EBITDA
7.53M	3.45M	64.64M	-683.00K	172.42M	196.30M
	Net Income Common Stockholders
-84.08M	-85.18M	-2.59M	-54.39M	100.96M	103.22M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
99.84M	107.01M	175.62M	153.83M	65.15M	133.34M
	Total Assets
1.24B	1.24B	1.36B	1.30B	1.34B	1.31B
	Total Debt
12.27M	237.04M	246.50M	295.17M	308.26M	338.96M
	Net Debt
-87.58M	130.03M	70.88M	141.35M	243.11M	205.63M
	Total Liabilities
616.16M	616.38M	663.48M	641.81M	769.22M	876.73M
	Stockholders Equity
608.76M	604.30M	667.58M	623.84M	568.18M	437.39M
Cash Flow		Free Cash Flow
70.54M	26.03M	76.39M	40.07M	9.22M	159.96M
	Operating Cash Flow
80.94M	35.88M	89.15M	66.39M	20.19M	168.95M
	Investing Cash Flow
-54.30M	-52.70M	-26.98M	-47.03M	-20.54M	-10.28M
	Financing Cash Flow
-52.98M	-50.68M	-37.39M	72.61M	-65.40M	-79.13M

Corsair Gaming Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 9.05 is above the 20-day moving average (MA) of 9.00, above the 50-day MA of 7.83, and above the 200-day MA of 8.00, indicating a bullish trend. The MACD of 0.37 indicates Positive momentum. The RSI at 59.83 is Neutral, neither overbought nor oversold. The STOCH value of 45.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRSR.

Corsair Gaming Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SMCI	78 Outperform	$24.80B	22.94	21.03%	―	82.10%	6.35%
DELL	72 Outperform	$74.36B	17.47	-179.12%	1.92%	7.68%	27.73%
WDC	70 Neutral	$19.43B	10.59	28.45%	0.72%	21.22%	―
CRSR	67 Neutral	$957.68M	―	-15.20%	―	-6.53%	-1059.95%
STX	65 Neutral	$27.01B	18.39	-109.27%	2.26%	36.29%	―
Sector *	62 Neutral	$11.97B	10.29	-7.47%	2.99%	7.32%	-8.06%
HPQ	61 Neutral	$23.03B	9.45	84.33%	4.86%	2.08%	-12.41%

Corsair Gaming Corporate Events

Corsair Gaming Holds Virtual Annual Stockholders Meeting

On June 10, 2025, Corsair Gaming held its Annual Meeting of Stockholders virtually, where 92,649,166 shares were voted on two key proposals. The stockholders elected Class II directors Anup Bagaria, George L. Majoros, Jr., and Stuart A. Martin to the Board until the 2028 meeting and ratified KPMG LLP as the independent auditor for the fiscal year ending December 31, 2025.

The most recent analyst rating on (CRSR) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Corsair Gaming stock, see the CRSR Stock Forecast page.