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Corsair Gaming, Inc. key statistics and ratios

In fiscal 2025, Corsair Gaming, Inc. had return on equity of -2.6%, an operating margin of 0.1%, debt equal to 19.2% of equity and a current ratio of 1.54. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin20.6%20.4%27.3%27.0%21.6%24.7%24.9%28.9%31.6%
Operating margin2.3%2.2%9.3%7.2%−4.0%0.7%−3.8%0.1%2.9%
Net margin−1.5%−0.8%6.1%5.3%−4.0%−0.2%−6.5%−1.1%2.5%
Free-cash-flow margin−0.8%2.6%9.4%0.5%2.9%5.2%2.0%2.4%6.2%
Return on equity−8.4%−4.4%31.6%20.1%−9.1%−0.4%−13.4%−2.6%5.7%
Return on assets—−0.8%8.7%7.6%−4.1%−0.2%−6.6%−1.3%3.0%
Asset turnover—1.041.431.441.041.101.021.181.18
Current ratio—1.431.371.581.821.701.571.541.75
Debt to equity0.0%233.3%74.7%43.8%38.5%29.8%28.8%19.2%17.9%
Effective tax rate——15.4%11.9%————2.4%
R&D as % of revenue3.4%3.4%2.9%3.2%4.8%4.5%5.1%4.7%4.6%
SG&A as % of revenue14.8%14.9%15.1%16.6%20.7%19.5%23.6%24.1%24.0%
Capital spending as % of revenue0.9%0.8%0.5%0.6%1.9%0.9%0.7%1.0%1.1%
Free cash flow ÷ net income——155.0%9.1%————243.9%
Dividends and buybacks ÷ free cash flow—5.4%———————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

7 of 7 checks passed · June 30, 2026
What it owns · $1.2bn
Short-term assets $647mLonger-term assets $569m
What it owes, and who funded it · $1.2bn
Short-term liabilities $369mLonger-term liabilities $167mShareholders' equity $665m
  • Short-term assets cover short-term liabilities $647m of assets due within a year against $369m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $647m short-term assets against $167m of longer-dated liabilities.
  • More cash than debt $194m of cash against $118m of debt.
  • Debt below 40% of shareholders' equity Debt is 18% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 43% to 18% over five years.
  • A year's operating cash flow covers at least 20% of debt $106m of operating cash flow against $118m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Corsair Gaming, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

35 /100

Weak moat

How hard Corsair Gaming's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 9 / 20

    Cash operating profit has been a median 7.6% of total assets over 6 years.

  • Pricing power 9 / 20

    Gross margin has been a median 24.8%, moving by 2.9 percentage points (standard deviation) across 7 years.

  • Durability 0 / 20

    Operating margin has been a median 0.1%; its worst year was -2.4%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 4 of 6 years, at a median 5.9% of revenue.

  • Discipline 13 / 20

    The diluted share count rose 10.2% over five years; stock-based pay has been a median 1.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (40 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Corsair Gaming, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Corsair Gaming, Inc.