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Corsair Gaming (Corsair Gaming) Operating Income : $-2 Mil (TTM As of Mar. 2024)


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What is Corsair Gaming Operating Income?

Corsair Gaming's Operating Income for the three months ended in Mar. 2024 was $-10 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $-2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Corsair Gaming's Operating Income for the three months ended in Mar. 2024 was $-10 Mil. Corsair Gaming's Revenue for the three months ended in Mar. 2024 was $337 Mil. Therefore, Corsair Gaming's Operating Margin % for the quarter that ended in Mar. 2024 was -3.03%.

Corsair Gaming's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Corsair Gaming's annualized ROC % for the quarter that ended in Mar. 2024 was -4.28%. Corsair Gaming's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -16.32%.


Corsair Gaming Operating Income Historical Data

The historical data trend for Corsair Gaming's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Corsair Gaming Operating Income Chart

Corsair Gaming Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial 23.71 158.36 137.89 -54.79 9.69

Corsair Gaming Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.04 -2.71 -0.76 12.12 -10.22

Corsair Gaming Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Corsair Gaming  (NAS:CRSR) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Corsair Gaming's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

ROC % (Q: Mar. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Mar. 2024 ))/ count )
=-40.876 * ( 1 - 13.88% )/( (810.914 + 835.817)/ 2 )
=-35.2024112/823.3655
=-4.28 %

where

Invested Capital(Q: Dec. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1357.463 - 370.929 - ( 175.62 - max(0, 418.487 - 711.589+175.62))
=810.914

Invested Capital(Q: Mar. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1257.191 - 293.606 - ( 127.768 - max(0, 342.101 - 621.182+127.768))
=835.817

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Corsair Gaming's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Mar. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-36.46/( ( (68.536 + max(139.393, 0)) + (66.234 + max(172.677, 0)) )/ 2 )
=-36.46/( ( 207.929 + 238.911 )/ 2 )
=-36.46/223.42
=-16.32 %

where Working Capital is:

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(253.268 + 240.172 + 42.529) - (370.929 + 7.442 + 18.205)
=139.393

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(204.92 + 251.747 + 36.747) - (293.606 + 4.49 + 22.641)
=172.677

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Corsair Gaming's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2024 )/Revenue (Q: Mar. 2024 )
=-10.219/337.257
=-3.03 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Corsair Gaming Operating Income Related Terms

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Corsair Gaming (Corsair Gaming) Business Description

Traded in Other Exchanges
Address
115 N. McCarthy Boulevard, Milpitas, CA, USA, 95035
Corsair Gaming Inc is engaged in the business of providing high-performance gear for gamers and content creators. The product portfolio includes Cases, Keyboards, Mice, Headsets, Power Supplies, Gaming Computers, Gaming Chairs, Mousepads, and other related products. The company operates in two segments namely, Gamer and Creator peripherals, which is the key revenue-generating segment; and Gaming Components and systems. Geographically, the group derives revenue from the Americas, Europe and the Middle East, and the Asia Pacific.
Executives
Thi L La officer: Chief Operating Officer C/O CORSAIR GAMING, INC., 47100 BAYSIDE PARKWAY, FREMONT CA 94538
Michael G Potter officer: Chief Financial Officer 5555 NE MOORE CT., HILLSBORO OR 97124
Majoros George L. Jr. director, 10 percent owner C/O EAGLETREE CAPITAL, LP, 1185 AVENUE OF THE AMERICAS, 39TH FLOOR, NEW YORK NY 10036
Anup Bagaria director, 10 percent owner C/O EAGLETREE CAPITAL, LP, 1185 AVENUE OF THE AMERICAS, 39TH FLOOR, NEW YORK NY 10036
Corsair Group (cayman), Lp 10 percent owner C/O EAGLETREE CAPITAL, LP, 1185 AVENUE OF THE AMERICAS, 39TH FLOOR, NEW YORK NY 10036
Samuel R. Szteinbaum director CORSAIR COMPONENTS INC., 46221 LANDING PARKWAY, FREMONT CA 94538
Sarah Mears Kim director C/O CORSAIR GAMING, INC., 47100 BAYSIDE PKWY, FREMONT CA 94538
Bertrand Chevalier officer: Chief Sales Officer C/O CORSAIR GAMING, INC., 47100 BAYSIDE PARKWAY, FREMONT CA 94538
Andrew J. Paul director, officer: See Remarks CORSAIR COMPONENTS INC., 46221 LANDING PARKWAY, FREMONT CA 94538
Randall J Weisenburger director C/O WASSERSTEIN PERELLA GROUP, 31 WEST 52ND ST 26TH FLOOR, NEW YORK NY 10019
Eagletree-carbide (gp), Llc 10 percent owner C/O EAGLETREE CAPITAL, LP, 1185 AVENUE OF THE AMERICAS, 39TH FLOOR, NEW YORK NY 10036
Gregg A Lakritz officer: Controller C/O CORSAIR GAMING, INC., 47100 BAYSIDE PARKWAY, FREMONT CA 94538
Stuart A Martin director C/O EAGLETREE CAPITAL, LP, 1185 AVENUE OF THE AMERICAS, 39TH FLOOR, NEW YORK NY 10036
Diana L. Bell director CORSAIR COMPONENTS INC., 46221 LANDING PARKWAY, FREMONT CA 94538
Eagletree Partners Iv Ultimate Gp, Llc 10 percent owner C/O EAGLETREE CAPITAL, LP, 1185 AVENUE OF THE AMERICAS, 39TH FLOOR, NEW YORK NY 10036