At a glance
Corsair Gaming Inc is worth $1.46B. Revenue grew 11.9% to $1.47B in fiscal 2025, at a loss; over 5 years it has grown 2.9% a year. It pays no dividend. The stock returned +61.9% over the past year with dividends reinvested and −11.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 52.3% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high.
The business in plain English
Corsair Gaming designs and sells high-performance gear for gamers and content creators such as streamers, vloggers and broadcasters. Its products cover PC gaming, sim racing (driving simulators with wheels and pedals) and consoles, under brands including Corsair, Elgato, SCUF and Fanatec. It sells worldwide through retailers such as Amazon, through distributors, and directly to consumers. It earns its money mainly from hardware. Two in-house software platforms tie the devices together: iCUE for gamers and the Elgato suite, with its Stream Deck control software, for creators. The Elgato Marketplace sells plugins and add-ons, some from outside developers.
In fiscal 2025, which ended December 31, 2025, revenue was about $1.47 billion. The larger segment, Gaming Components and Systems, brought in $980 million, or 66.6%. It includes power supplies, cooling parts, PC cases and DRAM memory modules (the memory sticks inside a computer), plus prebuilt gaming PCs, laptops and AI workstations. Gamer and Creator Peripherals brought in $492 million, or 33.4%: keyboards, mice, headsets, controllers, microphones, cameras, Stream Decks, sim racing gear and gaming furniture.
By region, the US made up 43% of fiscal 2025 revenue, Europe and the Middle East 38.4%, Asia Pacific 12.5% and the rest of the Americas 6.1%. Corsair has also grown through acquisitions, completing ten since 2018, including sim racing maker Fanatec in September 2024.
Price history
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CRSR +61.9% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Gaming Components And Systems | $980.3M | 66.6% |
| Gamer And Creator Peripherals | $492.1M | 33.4% |
By geography
| US | $633.6M | 43% |
| Europe And Middle East | $565.8M | 38.4% |
| Asia Pacific | $183.6M | 12.5% |
| Americas | $89.6M | 6.1% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $314.3M, down 1.8% from a year earlier, and net income was $8.8M.
- For fiscal 2025, revenue was $1.47B (+11.9% year over year; -2.9% a year from FY2020 to FY2025) with a -1.1% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | -2.9% weak |
|---|---|
| Operating margin | 0.1% weak |
| Free cash flow margin | 2.4% watch |
| Return on equity (FY2025) | -2.6% weak |
| Return on assets (FY2025) | -1.3% weak |
| Net cash (cash minus debt) | $75.6M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.70B | $103.2M | $160.0M |
| FY2021 | $1.90B | $101.0M | $9.2M |
| FY2022 | $1.38B | $-54.4M | $40.1M |
| FY2023 | $1.46B | $-2.6M | $76.4M |
| FY2024 | $1.32B | $-85.2M | $26.0M |
| FY2025 | $1.47B | $-16.2M | $34.7M |
Valuation snapshot
| Market value | $1.46B |
|---|---|
| P/E ratio | — |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Corsair Gaming’s market value went from $1.98B at the end of 2021 to $1.46B on Oct 28, 2026, down 26%; since the end of 2025 it is up 131%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.46B | +130.7% |
| 2025 | $633.1M | -8.5% |
| 2024 | $692.1M | -52.3% |
| 2023 | $1.45B | +11.5% |
| 2022 | $1.30B | -34.3% |
| 2021 | $1.98B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CRSR price data to Oct 28, 2026 | +127.3% | +61.9% | +2.0% | -11.4% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +127.3% |
| 2025 | -10.1% |
| 2024 | -53.1% |
| 2023 | +3.9% |
| 2022 | -35.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 46.3% over that stretch · deepest drop along the way 52.3%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (19 read): 2 open-market purchases ($964K) and 2 sales ($155K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Nov 7, 2025 | Samuel R. Szteinbaum Director | buy | $659K |
| Nov 25, 2025 | Thi L La Chief Executive Officer, Director | buy | $305K |
| Aug 13, 2026 | Sarah Mears Kim Director | sell | $121K |
| Nov 10, 2025 | Sarah Mears Kim Director | sell | $34K |
Who owns it
ETFs with the most weight in CRSR
| RZV Invesco S&P SmallCap 600® Pure Value ETF | 0.51% |
| PSCT Invesco S&P SmallCap Information Technology ETF | 0.22% |
| VIOV Vanguard S&P Small-Cap 600 Value ETF | 0.08% |
| RWJ Invesco S&P SmallCap 600 Revenue ETF | 0.07% |
| SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF | 0.06% |
| SLYV SPDR S&P 600 Small Cap Value ETF | 0.06% |
| IJS iShares S&P Small-Cap 600 Value ETF | 0.05% |
| VIOO Vanguard S&P Small-Cap 600 ETF | 0.04% |
What could go wrong
- DRAM memory prices can swing sharply. DRAM modules, the memory sticks inside PCs, bring in a significant share of revenue. Memory chips make up most of their cost, so chip price swings or lower selling prices can squeeze revenue and profit.
- One investor, EagleTree, controls the company. A single stockholder, EagleTree, controls Corsair, and its interests may differ from other shareholders'. As a Nasdaq "controlled company," Corsair can skip some governance rules that protect investors at other listed companies.
- Sales depend on new chips and games. Products have short lives, and their prices tend to fall as they age. Demand often jumps with new graphics cards, processors and major game releases, and can stall when those launches are delayed.
- Cloud gaming could cut hardware demand. Corsair lists cloud computing as a risk. If more people play games streamed from remote servers, fewer may need the high-powered PCs and parts behind about two-thirds of fiscal 2025 revenue.
- Tariffs and overseas factories add risk. Corsair relies on manufacturers in China and Southeast Asia for many products and assembles its DRAM modules at its own Taiwan facility. New tariffs, trade disputes or higher freight costs could raise expenses or delay shipments.
- A few big customers drive sales. Sales to a limited number of customers, such as large retailers and distributors, make up a significant portion of revenue. Losing one, or one running into financial trouble, could seriously hurt results.
Recent events
- Executive or board change
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Executive or board change
- Quarterly results released
- Executive or board change
- Quarterly results released
For income and retirement investors
Corsair pays no dividend, and its 10-K says it does not intend to pay one. So the stock provides no income; any return must come from a rising share price. Corsair also did not repurchase any shares from fiscal 2021 through fiscal 2025. Instead, its share count rose 14.7% between October 2021 and July 28, 2026, to 108.2 million, which spreads ownership more thinly. It posted a net loss in every fiscal year from 2022 through 2025.
In the 2022 bear market (a long market slide), the stock fell 52.3% from its February 16, 2022 high to its September 26, 2022 low, and it had not regained that high as of October 28, 2026. Its biggest peak-to-low drop over 5.7 years of price history was 88.8%. Over the year to October 28, 2026, its beta was 2.9, meaning it tended to swing nearly three times as much as the overall market. Single stocks carry more risk than diversified funds.
Questions investors ask
Does Corsair Gaming pay a dividend?
No. Corsair paid no dividends from fiscal 2021 through fiscal 2025, and its 10-K says it does not intend to pay dividends on its common stock. It also did not repurchase any shares over those five years, while its share count rose 14.7% between October 2021 and July 28, 2026. That means the stock provides no income, and any return depends on the share price rising.
How does Corsair make money?
Corsair makes money by selling gaming and streaming hardware worldwide through retailers such as Amazon, distributors and its own direct-to-consumer channel. In fiscal 2025, which ended December 31, 2025, revenue was about $1.47 billion. Gaming Components and Systems, including power supplies, cooling, PC cases, DRAM memory and prebuilt gaming PCs, made up 66.6%. Gamer and Creator Peripherals, such as keyboards, mice, headsets, Elgato streaming gear and Fanatec sim racing products, made up 33.4%. The US was its largest market, at 43% of revenue.
Is Corsair profitable?
No, not over a full year: Corsair posted a net loss in each fiscal year from 2022 through 2025. In fiscal 2025 it lost $16.2 million on revenue of $1.47 billion, and its operating margin (operating profit as a share of sales) was just 0.1%. It did generate $34.7 million of free cash flow, the cash left after running the business and paying for equipment. In the quarter ended June 30, 2026, it earned $8.8 million on revenue of $314.3 million, down 1.8% from a year earlier.
Does Corsair have a lot of debt?
No. As of June 30, 2026, Corsair held $193.9 million in cash and investments against $118.3 million of total debt, leaving about $75.6 million of net cash. Shareholders' equity was $664.9 million. Even so, its 10-K lists its debt and credit facilities (bank loan arrangements) as a risk, because their terms can limit how freely the company reacts to changing business and economic conditions.
How volatile is Corsair stock?
Very. As of October 28, 2026, the shares were up 127.3% for 2026 to date, yet down 45% over five years in total. They fell 35.4% in 2022 and 53.1% in 2024. Their worst peak-to-low drop over 5.7 years of price history was 88.8%. Over the year to October 28, 2026, the stock's beta was 2.9, meaning it tended to swing nearly three times as much as the overall market. The 10-K also notes big seasonal and quarterly swings in results.