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Fundamental analysis: Corsair Gaming, Inc. (CRSR)

Awarener score: 6.2

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (unknown) and growth (unknown), and the company's inclination to return cash to the stockholders (Very good).

Note: All scores range from 1 (worst) to 10 (best). Conclusions are updated daily with closing stock prices and new reported quarterly financial statements.

Revenue score: a result could not be reached

  • Business growth could not be estimated, due to not enough input data. It's been unavailable to compare with peer companies.
  • Corsair Gaming, Inc. business stability could not be estimated, due to insufficient input data. It looks we cannot compare it to rivals.

Margins score: 5.3

  • CRSR profit margins -on goods and services sold- are usually meagre. They stand somewhat worse than rival companies.
  • Business profit on sales tends to be sufficient. It's more than average in relation to competitors.
  • Profits on sales made -available to repay debt and purchase properties- are usually hardly sufficient. They remain a slight improvement compared to peers.
  • Earnings -before income taxes and interests on loans taken- tend to be hardly sufficient in relation to total revenues. They're still well ranked against similar companies.
  • Profits -before income taxes- are usually sufficient considering total sales, and remain more than average in relation to rivals.
  • Total net profit tends to be sufficient when confronted to sales. Company stands more than average in relation to comparable firms.

Growth score: 1.0

  • Corsair Gaming, Inc. has an unknown gross margin growth, as there is not enough data to analyze. It's been impossible to compare to competitors.
  • There is not sufficient data to estimate the operating income margin trend, which has been therefore unknown against comparable firms.
  • EBITDA growth is unknown due to insufficient inputs, which compares unknown against peer enterprises.
  • We were not able to provide an estimate for EBIT growth, because of lacking data. It turns to be not yet known in relation to similar stocks.
  • Profit before income tax growth was not estimated, on insufficient history. It was impossible to measure against rivals.
  • Net income growth could not be estimated, and so it is unknown against peer companies.
  • There was not enough input data to estimate EPS trend. It's been an impossibility to compare it with industry peers.

Miscellaneous score: 7.3

  • CRSR had to pay sparse income taxes in relation to profits made in the past years. It's been slightly worse than peers.
  • Research and development expenses consume a very little portion of revenues. It's great when measured against competitors.
  • The company shows business growth in relation to research and development efforts. It stands a disappointment compared to rival companies.

Profitability score: 6.5

  • Corsair Gaming, Inc. usually gets good returns on the resources it controls. It proves encouraging in relation to peer firms.
  • The company normally gets sufficient proceeds -on the resources directly invested in the business-. They remain a slight improvement compared to similar companies.
  • There's usually some profitability -in relation to owned resources-. It ranks encouraging in relation to competitors.
  • In the past, got good returns -on the tangible resources it controls-. This metric is usually related to the industry in which operates and combines profitability versus reinvestment needs. It's great when measured against comparable enterprises.

Usage of Funds score: 3.4

  • CRSR on average doesn't generate genuine funds, so to buy or replace property, plants and equipment must either burn existing cash or increase debt. It stands great when measured against rival firms.
  • The company is usually sparsely replacing property, plant, and equipment that gets old, instead using funds in something else. It can't keep forever, which is last-in-rank when measured against industry peers.
  • In the past twelve months it paid very little dividends, considering the current stock price. It came bottom tier against competitors.
  • The company pays no dividend, so measuring its growth is meaningless. The company has behaved in an conservative way compared to similar firms.
  • As no dividends are paid, it is useless trying to estimate their sustainability in time. Sustainability looks not applicable in regard to comparable companies.
  • The company somewhat enlarges a bit the pool of investors, resulting in more mouths feeding on the pie of profits. It remains close to average when compared to peer enterprises.
  • Repurchase effectiveness metric is very complex. Run again in analytical mode if you're interested in a technical explanation. It stands rather normal in relation to rivals.
  • We do not have sufficient data to comment on buybacks and their sustainability. It still looks dubious against competitors.

Balance Sheet score: 5.4

  • Corsair Gaming, Inc. intangible assets (like brands and goodwill) represent a very large portion of resources controlled, according to accounting books. There could be major difficulties in liquidating them if the company ever gets in financial distress. It happens to be last-in-rank when measured against peer companies.
  • The company has more short-term resources than short-term obligations. Liquidity concerns shouldn't be an issue. It turns to be in a weak position compared to similar firms.
  • Roughly a quarter of resources controlled were provided for with financial debt. Creditors have some claims on the company. It remains mediocre against rival firms.
  • Most controlled resources take time to be turned into cash and equivalents, which is somewhat risky. It looks substantially worse when measured against rivals.
  • For every dollar of short-term obligations, the company has almost another of cash and short-term receivables. It's in a very weak position compared to peer firms.
  • For every dollar of short-term obligations, the company has few cents of cash and equivalents, which is bottom tier against similar enterprises.
  • Usually, sales are on a month and a half credit. It still ranks more than average in relation to peers.
  • Normally has approximately three months of sales worth in inventory. It comes up as rather normal in relation to competitors.
  • On average, it takes higher than four months from the purchase to charging customers. It happens to be somewhat better than peers.
  • On average pays suppliers two months after the purchase. It ranks weak when measured against industry peers.
  • The company pays its suppliers roughly two months before charging its customers, so there's some money invested in working capital. It's rather normal in relation to similar companies.
  • Net interest expenses consume a minor portion of usual business earnings, and are easily bearable. It stands slightly better than rival firms.
  • Business earnings have usually been good when measured against loans taken. Cutting back reinvesting in the business, it could take less than three years to repay the obligations with current profitability. It ranks encouraging in relation to comparable enterprises.
  • Revenues are huge in relation to property, plant, and equipment required to operate. This metric is likely dependent on the industry the company operates in. Low property, plant, and equipment requirements, allows the company to keep more money to reward stockholders in the long run. It looks impressive in relation to similar firms.
  • Resource exploitation is excellent when yearly sales are considered. This metric is normally tied to the industry where the firm belongs. It's still well ranked against peer companies.

Valuation score: 4.3

  • Corsair Gaming, Inc. reported losses, so valuating it in relation to earnings is meaningless. It happens to be weak when measured against competitors.
  • Price-to-Tangible-Book-Value is a fairly complex metric. Run again in analytical mode if you're interested in a technical explanation. It remains a disappointment compared to peers.
  • In the past twelve months, the company neither generated nor consumed funds. Whatever funds it could generate, it reinvested in the business, which stands slightly better than similar companies.
  • In the past years the company hardly generated enough genuine funds to cover up for its business needs. Business prospects should improve enough to be in a better position to reward investors. It's still encouraging in relation to industry firms.
  • In the past twelve months, the company has slightly rewarded investors, considering both dividends and share on the pie of earnings. It came up close to average when compared to peer ventures.
  • The company has barely more debt than cash. It may borrow extra money if it wishes so, or start cumulating cash for future uses. It looks worse than most similar enterprises.
  • Considering the past twelve months, traditional Price-to-Earnings relation has been negative, as the company lost money. It ranks weak when measured against peer companies.
  • Comparing the current stock price with the past twelve-months revenues gives a more than one-to-one relationship. This is an important metric to check its evolution through time, and to compare to industry peers. It looks in good shape compared to rival firms.
  • The relation between the stock price and accounting book value is significantly high, which may be good or bad depending on context. Run again in analytic mode if you want to dig deeper. The company remains somewhat worse than peer firms.
  • In the past twelve months, the operating business lost some money. It happens to be below average when measured against industry peers.
  • In an alternate metric of bang for the buck, the company has usually shown a good earnings power ability when measured against the current stock price and financial position. It's still excellent in relation to peer companies.

Total score: 4.8


CRSR logos

Company at a glance: Corsair Gaming, Inc. (CRSR)

Sector, industry: Technology, Computer Hardware

Market Cap: 1.74 billions

Revenues TTM: 1.49 billions

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.

Awarener score: 6.2

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (unknown) and growth (unknown), and the company's inclination to return cash to the stockholders (Very good).