CRSR · Corsair Gaming, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.47B | $1.32B | $1.46B | $1.38B | $1.90B | $1.70B |
| Cost of Revenue | $1.05B | $988.78M | $1.10B | $1.08B | $1.39B | $1.24B |
| Gross Profit | $425.88M | $327.60M | $360.26M | $296.63M | $513.85M | $465.43M |
| R&D | $69.15M | $67.54M | $65.26M | $66.49M | $60.29M | $50.06M |
| SG&A | $354.66M | $310.01M | $285.31M | $284.93M | $315.67M | $257.00M |
| Total Operating Expenses | $423.81M | $377.55M | $350.57M | $351.43M | $375.96M | $307.07M |
| D&A | $13.96M | $13.45M | $12.21M | $10.73M | $10.30M | $9.32M |
| Operating Income | $2.08M | ($49.95M) | $9.69M | ($54.79M) | $137.89M | $158.36M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $2.82M | $21.74M | ($2.44M) | ($9.82M) | $13.60M | $18.82M |
| Net Income | ($16.16M) | ($85.18M) | ($2.59M) | ($54.39M) | $100.96M | $103.22M |
| EPS - Basic | ($0.12) | ($0.95) | $0.03 | ($0.63) | $1.08 | $1.20 |
| EPS - Diluted | ($0.12) | ($0.95) | $0.03 | ($0.63) | $1.01 | $1.14 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $98.83M | $109.63M | $178.56M | $154.06M | $65.38M | $19.03M |
| Accounts Receivable | $233.90M | $218.65M | $253.27M | $235.66M | $291.29M | $293.63M |
| Inventory | $303.34M | $259.98M | $240.17M | $192.72M | $298.31M | $226.01M |
| Accounts Payable | $212.55M | $207.22M | $239.96M | $172.03M | $236.12M | $299.64M |
| Current Assets | $665.46M | $623.39M | $711.59M | $622.79M | $705.77M | $690.97M |
| Total Assets | $1.25B | $1.24B | $1.36B | $1.30B | $1.34B | $1.31B |
| Current Liabilities | $430.94M | $396.31M | $418.49M | $343.00M | $446.75M | $505.38M |
| Long-term Debt | $115.22M | $161.31M | $186.01M | $232.17M | $242.90M | $321.39M |
| Total Liabilities | $608.03M | $616.38M | $663.48M | $641.81M | $769.22M | $876.73M |
| Stockholders' Equity | $633.56M | $604.30M | $667.58M | $623.84M | $568.18M | $254.66M |
| Retained Earnings | ($71.23M) | ($58.77M) | $40.41M | $37.22M | $98.15M | ($2.81M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $50.12M | $35.88M | $89.15M | $66.39M | $20.19M | $168.95M |
| Investing Cash Flow | ($15.37M) | ($52.70M) | ($26.98M) | ($47.03M) | ($20.54M) | ($10.28M) |
| Financing Cash Flow | ($48.87M) | ($50.68M) | ($37.39M) | $72.61M | ($65.40M) | ($79.13M) |
| CapEx | $15.37M | $9.85M | $12.76M | $26.32M | $10.97M | $8.99M |
| Free Cash Flow | $34.75M | $26.03M | $76.39M | $40.07M | $9.22M | $159.96M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 28.9% | 24.9% | 24.7% | 21.6% | 27.0% | 27.3% |
| Operating margin | 0.1% | -3.8% | 0.7% | -4.0% | 7.2% | 9.3% |
| EBITDA margin | 1.1% | -2.8% | 1.5% | -3.2% | 7.8% | 9.8% |
| Net margin | -1.1% | -6.5% | -0.2% | -4.0% | 5.3% | 6.1% |
| Free cash flow margin | 2.4% | 2.0% | 5.2% | 2.9% | 0.5% | 9.4% |
| FCF / Net income | -2.15 | -0.31 | -29.49 | -0.74 | 0.09 | 1.55 |
| R&D / Revenue | 4.7% | 5.1% | 4.5% | 4.8% | 3.2% | 2.9% |
| SG&A / Revenue | 24.1% | 23.6% | 19.5% | 20.7% | 16.6% | 15.1% |
| Effective tax rate | - | - | - | - | 11.9% | 15.4% |
| Return on assets | -1.3% | -6.9% | -0.2% | -4.2% | 7.5% | 7.9% |
| Return on equity | -2.6% | -14.1% | -0.4% | -8.7% | 17.8% | 40.5% |
| Return on invested capital | 0.2% | -5.2% | 0.9% | -5.1% | 15.0% | 23.3% |
| Liquidity | ||||||
| Current ratio | 1.54 | 1.57 | 1.70 | 1.82 | 1.58 | 1.37 |
| Quick ratio | 0.84 | 0.92 | 1.13 | 1.25 | 0.91 | 0.92 |
| Cash ratio | 0.23 | 0.28 | 0.43 | 0.45 | 0.15 | 0.04 |
| Leverage | ||||||
| Debt / Equity | 0.18 | 0.27 | 0.28 | 0.37 | 0.43 | 1.26 |
| Debt / Assets | 0.09 | 0.13 | 0.14 | 0.18 | 0.18 | 0.24 |
| Debt / EBITDA | 7.18 | - | 8.49 | - | 1.64 | 1.92 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.98 | 2.05 | 2.03 | 2.08 | 2.35 | 5.16 |
| Liabilities / Assets | 0.48 | 0.50 | 0.49 | 0.49 | 0.58 | 0.67 |
| Efficiency | ||||||
| Asset turnover | 1.17 | 1.07 | 1.08 | 1.06 | 1.42 | 1.30 |
| Inventory turnover | 3.45 | 3.80 | 4.58 | 5.60 | 4.66 | 5.47 |
| Days sales outstanding | 58d | 61d | 63d | 63d | 56d | 63d |
| Days inventory outstanding | 106d | 96d | 80d | 65d | 78d | 67d |
| Days payable outstanding | 74d | 76d | 80d | 58d | 62d | 88d |
| Cash conversion cycle | 90d | 80d | 63d | 70d | 72d | 41d |
| Valuation | ||||||
| P / E | - | - | 470.0x | - | 20.8x | 31.8x |
| P / B | 1.0x | 1.1x | 2.2x | 2.1x | 3.7x | 12.9x |
| P / S | 0.4x | 0.5x | 1.0x | 1.0x | 1.1x | 1.9x |
| EV / EBITDA | 40.3x | - | 68.8x | - | 15.4x | 21.4x |
| Growth | ||||||
| Revenue growth (YoY) | 11.9% | -9.8% | 6.2% | -27.8% | 11.8% | - |
| Revenue CAGR (3y) | 2.3% | -11.6% | -5.0% | - | - | - |
| Revenue CAGR (5y) | -2.9% | - | - | - | - | - |
| Gross profit growth (YoY) | 30.0% | -9.1% | 21.5% | -42.3% | 10.4% | - |
| Operating income growth (YoY) | - | - | - | - | -12.9% | - |
| Net income growth (YoY) | 81.0% | -3188.8% | 95.2% | - | -2.2% | - |
| EPS growth (YoY) | 87.4% | - | - | - | -11.4% | - |
| EPS CAGR (3y) | - | - | -70.3% | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 33.5% | -65.9% | 90.6% | 334.7% | -94.2% | - |
| FCF CAGR (5y) | -26.3% | - | - | - | - | - |
| Book value growth (YoY) | 4.8% | -9.5% | 7.0% | 9.8% | 123.1% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.47B totalGaming Components And Systems$980.34M · 66.6%
Gamer And Creator Peripherals$492.14M · 33.4%
Product / service
$1.47B totalMemory Products$519.36M · 35.3%
Gaming Peripherals Products$492.14M · 33.4%
Other Component Products$460.99M · 31.3%
Geographic
$1.47B totalUS$633.55M · 43.0%
Europe And Middle East$565.79M · 38.4%
Asia Pacific$183.57M · 12.5%
Americas$89.57M · 6.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.70
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Computer Peripheral Equipment, NEC
Comparing Corsair Gaming against the 5 most active filers in the same SIC group.