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Corsair Gaming
(NASDAQ:CRSR)
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Rating:66Neutral
Price Target:
$13.00
▲(31.98% Upside)
Action:Reiterated
Date:08/07/26
CRSR scores as moderately attractive primarily due to improving financial stability (strong free cash flow and very low leverage) and supportive technical trends (price above major moving averages with positive MACD). The score is held back by expensive headline valuation (P/E 117.5) and fundamental uncertainty from sharp TTM revenue decline, plus earnings-call risks around one-time tariff benefits and segment pressure from elevated memory pricing.
Positive Factors
Strong Cash Generation and Low Leverage
Robust cash generation and minimal leverage give Corsair flexibility to fund product development, acquisitions and working capital while reducing balance-sheet risk through the PC gaming cycle.
Negative Factors
Sharp Revenue Contraction
The pronounced revenue decline indicates demand remains cyclical and uneven. With net margins still modest, sustained weakness in volumes could quickly reduce operating leverage and limit durable earnings growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation and Low Leverage
Robust cash generation and minimal leverage give Corsair flexibility to fund product development, acquisitions and working capital while reducing balance-sheet risk through the PC gaming cycle.
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
$1.32B
Dividend YieldN/A
Average Volume (3M)1.71M
Price to Earnings (P/E)38.7
Beta (1Y)2.38
Revenue Growth3.11%
EPS GrowthN/A
CountryUS
Employees2,355
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)0.31
Shares Outstanding108,176,956
10 Day Avg. Volume1,368,424
30 Day Avg. Volume1,710,220
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
$12.75Price Target Upside29.44% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)0.89
Revenue Forecast (FY)$1.44B
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 creator hardware through a mix of retail, e-commerce, distributors, and direct-to-consumer channels. Its revenue model is largely product-sales driven and is typically organized into two ...
Corsair Gaming Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful progress: record gross margin, strong gross profit growth, materially improved profitability (GAAP and non-GAAP), large operating cash flow improvement, raised full-year guidance, and strategic M&A and partnerships that enhance higher-margin and recurring revenue opportunities. Primary challenges include a 2% revenue decline, a 9% drop in the Components & Systems segment driven by elevated memory pricing that has deferred DIY demand, reliance on a one-time tariff refund benefit (≈$15M), and near-term constraints on AI systems revenue due to GPU allocation. On balance, the positive operational and financial momentum — including margin expansion, cash generation, and upgraded guidance — outweigh the transitory and market-driven headwinds.Positive Updates
Record Gross Margin and Gross Profit Growth
Consolidated gross profit grew 21% year-over-year to $104.3M and gross margin reached a company record of 33.2%, up 640 basis points year-over-year and 50 basis points sequentially.
Negative Updates
Total Revenue Decline
Consolidated net revenue for Q2 was $314.3M, down 2% year-over-year despite beating the midpoint of guidance.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Gross Margin and Gross Profit Growth
Consolidated gross profit grew 21% year-over-year to $104.3M and gross margin reached a company record of 33.2%, up 640 basis points year-over-year and 50 basis points sequentially.
Read all positive updates
Company Guidance
Corsair guided Q3 2026 net revenue of $320–350 million, adjusted EBITDA of $18–21 million, and non‑GAAP diluted EPS of $0.09–0.12, assuming continued low‑double‑digit year‑over‑year growth in Gamer & Creator Peripherals and low‑double‑digit declines in Gaming Components & Systems (pressured by elevated memory pricing); for full‑year 2026 management raised its outlook to net revenue of $1.40–1.47 billion, adjusted EBITDA of $121–131 million, and non‑GAAP diluted EPS of $0.85–0.94 (the updated midpoint implies roughly a $35 million increase in revenue and a ~$19 million increase in midpoint EBITDA versus prior guidance), with D2C at 20% of revenue and expected tailwinds from GTA 6, Fanatec/Elgato momentum, and a modest contribution from the Trak Racer acquisition.Corsair Gaming Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
76
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.45B | 1.47B | 1.32B | 1.46B | 1.38B | 1.90B |
| Gross Profit | 457.97M | 425.88M | 327.60M | 360.26M | 296.63M | 513.85M |
| EBITDA | 91.00M | 51.39M | 3.45M | 64.64M | -683.00K | 172.42M |
| Net Income | 35.13M | -12.46M | -85.18M | -2.59M | -54.39M | 100.96M |
Balance Sheet | ||||||
| Total Assets | 1.22B | 1.25B | 1.24B | 1.36B | 1.30B | 1.34B |
| Cash, Cash Equivalents and Short-Term Investments | 193.60M | 98.58M | 107.01M | 175.62M | 151.18M | 62.41M |
| Total Debt | 118.28M | 121.34M | 237.04M | 246.50M | 295.17M | 308.26M |
| Total Liabilities | 551.41M | 608.03M | 616.38M | 663.48M | 641.81M | 769.22M |
| Stockholders Equity | 664.85M | 633.56M | 604.30M | 667.58M | 623.84M | 568.18M |
Cash Flow | ||||||
| Free Cash Flow | 89.72M | 34.75M | 26.03M | 76.39M | 40.07M | 9.22M |
| Operating Cash Flow | 105.74M | 50.12M | 35.88M | 89.15M | 66.39M | 20.19M |
| Investing Cash Flow | -16.03M | -15.37M | -52.70M | -26.98M | -47.03M | -20.54M |
| Financing Cash Flow | -4.43M | -48.87M | -50.68M | -37.39M | 72.61M | -65.40M |
Corsair Gaming Technical Analysis
Positive
9.85
Price Trends
10.07
Positive
8.65
Positive
7.27
Positive
Market Momentum
0.82
Positive
53.92
Neutral
42.77
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 9.85 is below the 20-day moving average (MA) of 11.59, below the 50-day MA of 10.07, and above the 200-day MA of 7.27, indicating a bullish trend. The MACD of 0.82 indicates Positive momentum. The RSI at 53.92 is Neutral, neither overbought nor oversold. The STOCH value of 42.77 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $1.15B | 13.11 | 24.57% | 4.48% | -3.11% | 23.38% | |
66 Neutral | $1.32B | 38.73 | 5.52% | ― | 3.11% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $335.20M | 113.66 | 3.29% | ― | -12.77% | ― | |
55 Neutral | $767.44M | -6.39 | -13.79% | ― | -3.05% | -0.01% | |
53 Neutral | $604.78M | -8.96 | -22.63% | ― | -6.22% | 61.98% |
* Technology Sector Average
CRSR
Corsair Gaming
11.35
3.15
38.41%
DDD
3D Systems
3.41
1.44
73.10%
SSYS
Stratasys
8.60
-1.72
-16.67%
OSS
One Stop Systems
12.11
6.91
132.88%
CRCT
Cricut Inc
5.43
-0.03
-0.51%
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.