STOCKROUTINES

Corsair Gaming, Inc.

Last Updated
Share Price
$15.85
Market Cap
$1.51B
Dividend Yield
N/A
EPS
$1.01
P/E
15.69

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.

0%
Income
  • Revenue $1.9B
  • Gross Profit $513.85M
  • Net Income $100.96M
  • Gross Margin 26.99%
  • Net Margin 5.3%
Cash Flow
  • Free Cash Flow (FCF) $9.22M
  • Free Cash Flow To Equity (FCFE) $-382.47M
  • Dividends Paid $0
  • Debt Repayment $-391.69M
  • Net Stock Repurchased $0
Balance Sheet
  • Shareholder Equity $568.18M
  • Debt To Equity (D/E) 135.38%
  • Book Value $568.18M
  • Book Value Per Share (BVPS) $0
  • Return On Invested Capital (ROIC) 15.52%
The financial metrics for Corsair Gaming, Inc. presented below are for the financial year 2021.
P/E 19.54 Price To Earnings Ratio
P/S 1.04 Price To Sales Ratio
P/B 3.47 Price To Book Ratio
P/CF 97.72 Price To Operating Cash Flow Ratio
P/FCF 214.06 Price To Free Cash Flow Ratio
P/FCFE -5.16 Price To Levered Free Cash Flow Ratio
P/EBT 17.22 Price To Pre-Tax Income
PEG -1.78 Trailing Price/Earnings To Growth Ratio
EV/Sales 1.13 Enterprise Value To Sales Ratio
EBIT/EV 0.06 EBIT To Enterprise Value Ratio
EV/EBITDA 12.16 Enterprise Value to EBITDA Ratio
D/E 1.35 Debt To Equity Ratio
ROE 20.08% Return On Equity
ROIC 15.52% Return On Invested Capital
DPR 0% Dividend Payout Ratio
Current Ratio 1.58 Current Liquidity Ratio
EPS Growth -10.97% Earnings Per Share Growth Rate
Graham Number $12.1 Benjamin Graham's Number
Piotroski Score N/A Piotroski F-Score
Beta N/A Beta Coefficient Value
    2021 2020 2019 2018
Revenue $1.9B$1.7B$1.1B$937.55M
Cost of Revenue $1.39B$1.24B$872.89M$744.86M
Gross Profit $513.85M$465.43M$224.29M$192.69M
Gross Profit Margin 26.99%27.34%20.44%20.55%
Operating Expenses $375.96M$307.07M$200.58M$170.91M
Research & Development Expenses (R&D) $60.29M$50.06M$37.55M$31.99M
Selling, General & Administrative Expenses (SG&A) $315.67M$0$163.03M$138.91M
Other Expenses $0$257M$0$0
Net Income $100.96M$103.22M$-8.39M$-13.72M
Net Profit Margin 5.3%6.06%-0.77%-1.46%
Operating Income $137.89M$158.36M$23.71M$21.79M
Other Income & Expenses (Net) $-23.33M$-36.32M$-37.11M$-32.5M
Depreciation & Amortization $45.09M$43.23M$37.51M$36.56M
Interest Income $0$0$0$0
Interest Expense $17.67M$35.14M$35.55M$32.68M
Income Tax Expense $13.6M$18.82M$-5M$3.01M
Effective Tax Rate 11.87%15.43%0%0%
EBITDA $177.33M$200.41M$59.66M$58.54M
EBIT $132.23M$157.18M$22.15M$21.97M
EBT N/AN/AN/AN/A
Shares Outstanding 93.92M86.26M91.85M91.85M
Diluted Shares Outstanding 100.04M90.58M91.85M91.85M
EPS $1.07$1.2$-0.09$-0.15
Diluted EPS $1.01$1.14$-0.09$-0.15
    2021 2020 2019 2018
Operating Cash Flow $20.19M$168.95M$37.1M$422K
Net Income $100.96M$103.22M$-8.39M$-13.72M
Depreciation & Amortization $45.09M$43.23M$37.51M$36.56M
Deferred Income Tax $-11.96M$-7.48M$-11.54M$-3.02M
Stock-Based Compensation $17.23M$5.8M$3.85M$2.75M
Change In Working Capital $-140.75M$14.92M$13.04M$-25.54M
Other Non-Cash Items $9.62M$9.26M$2.64M$3.38M
Cash From Investing $-20.54M$-10.28M$-145.43M$-38.55M
Purchases Of Investments $0$0$0$0
Sales / Maturities of Investments $0$0$0$0
Property, Plant & Equipment Investments $-10.97M$-8.99M$-8.85M$-8.35M
Net Acquisitions $-4.85M$-1.29M$-126.1M$-30.21M
Other Investing Activites $-4.72M$0$-10.47M$0
Cash From Financing $-65.4M$-79.13M$132.31M$47.35M
Debt Repayment $-391.69M$-190.39M$-3.97M$-3.09M
Dividend Payments $0$0$0$-85M
Payout Ratio 0%0%0%-619.53%
Net Common Stock Repurchased $0$-118.58M$-51.97M$0
Common Stock Repurchased $0$0$-1.53M$0
Common Stock Issued $0$-118.58M$-51.97M$0
Other Financing Activites $326.28M$-7.31M$84.31M$135.44M
Accounts Receivables $444K$-91.49M$-48.03M$-7.34M
Accounts Payables $-63.72M$116.52M$16.2M$25.84M
Inventory $-71.32M$-80.09M$15.71M$-29.75M
Other Working Capital $0$185.59M$129.88M$97.2M
Capital Expenditure (CAPEX) $-10.97M$-8.99M$-9.02M$-8.35M
Effect Of Foreign Exchange On Cash $-2.44M$2.08M$37K$-331K
Net Change In Cash $-68.19M$81.62M$24.03M$8.89M
Free Cash Flow (FCF) $9.22M$159.96M$28.08M$-7.92M
Free Cash Flow To Equity (FCFE) $-382.47M$-30.43M$24.11M$-11.01M
    2021 2020 2019 2018
Total Assets $1.34B$1.31B$1.06B$810.99M
Total Current Assets $705.77M$690.97M$429.81M$316.28M
Cash & Short-Term Investments $65.15M$129.54M$48.16M$25.64M
Cash & Cash Equivalents $65.15M$129.54M$48.16M$25.64M
Short-Term Investments $0$0$0$0
Net Receivables $291.29M$293.63M$202.33M$122.04M
Inventory $298.31M$226.01M$151.06M$149.02M
Other Current Assets $51.02M$41.79M$28.25M$19.58M
Total Non-Current Assets $631.62M$623.14M$629.91M$494.71M
Property, Plant & Equipment (PP&E) $16.82M$16.48M$15.37M$12.47M
Goodwill & Intangible Assets $542.76M$572.08M$603.78M$474.49M
Goodwill $317.05M$312.76M$312.75M$226.68M
Intangible Assets $225.71M$259.32M$291.03M$247.81M
Long-Term Investments $0$0$0$0
Other Non-Current Assets $72.04M$34.59M$10.77M$7.75M
Other Assets $0$0$0$0
Total Liabilities $769.22M$876.73M$842.94M$648.29M
Total Current Liabilities $446.75M$505.38M$299.93M$219.08M
Accounts Payables $236.12M$299.64M$182.03M$154.84M
Short-Term Debt $4.75M$9.07M$2.36M$28.61M
Deferred Revenue $0$0$4.22M$0
Other Current Liabilities $205.87M$196.68M$111.32M$35.63M
Total Non-Current Liabilities $322.47M$371.34M$543.01M$429.21M
Long-Term Debt $242.9M$321.39M$503.45M$394.11M
Other Non-Current Liabilities $53.87M$20.2M$5.75M$412K
Total Debt $247.65M$330.46M$505.81M$422.72M
Total Shareholder Equity $568.18M$437.39M$216.78M$162.7M
Common Stock $470.37M$9K$8K$8K
Retained Earnings $98.15M$-2.81M$-106.03M$-93.16M
Accumulated Other Comprehensive Income Loss (AOCL) $-340K$1.53M$-2.17M$-2.38M
Other Shareholder Equity $0$438.67M$324.97M$258.24M
Total Investments $0$0$0$0
Net Debt $182.5M$200.92M$457.65M$397.08M
Book Value $568.18M$437.39M$216.78M$162.7M

Discounted Cash Flow

Use the Discounted Cash Flow (DCF) tool to estimate the intrinsic value of Corsair Gaming, Inc. stock.

Assumptions
Forecast Period
Required Return
  Low Mid High
Revenue Growth
FCFE Margin
Perpetual Growth
Terminal P/FCFE
Assumptions

The number of assumptions to make for each forecast.

Forecast Period

The number of years to forecast future cash flows. These future cash flows are used to determine the intrinsic present value for the stock.

It is generally recommended to select a longer period for more established companies with stable financial histories.

Forecast Period

The compounding annual rate of return required, according to your investment objectives. This is used to discount back future cash flows.

Revenue Growth

Estimate the annual compounding revenue growth rate. You can use the historical compounding annual growth rates provided below as a guide.

  • 1 Year 11.17%
  • 3 Years 25.62%
  • 5 Years 25.62%
  • 10 Years 25.62%
Levered Free Cash Flow Margin

Estimate levered free cash flow (FCFE) as a percentage of revenue. You can use the historical margins provided below as a guide.

  • 1 Year -20.09%
  • 3 Years -6.56%
  • 5 Years -5.21%
  • 10 Years -5.21%
Perpetual Growth Rate

Estimate the compounding annual growth rate at which revenues will grow in perpetuity after the forecast period. This is the first method used to calculate the terminal value.

Values of between 2% and 5% are generally recommended.

Price To Levered Free Cash Flow

Estimate the price to levered free cash flow (P/FCFE) for the stock after the forecast period. This is the second method used to calculate the terminal value.

This method for calculating the terminal value can be preferred for shorter forecast periods. You can use the historical rations provided below as a guide.

  • 1 Year -5.16
  • 3 Years -17.85
  • 5 Years -43.1
  • 10 Years -43.1
Chief Executive Officer (CEO) Mr. Andrew J. Paul
Full-Time Employees 2.49K
Industry Computer Hardware
Sector Technology
Country US
Website https://www.corsair.com

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