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Corsair Gaming (Corsair Gaming) Owner Earnings per Share (TTM) : -0.28 (As of Mar. 2024)


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What is Corsair Gaming Owner Earnings per Share (TTM)?

In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

Corsair Gaming's Owner Earnings per Share (TTM) ended in Mar. 2024 was $-0.28. It's Price-to-Owner-Earnings ratio for today is 0.


The historical rank and industry rank for Corsair Gaming's Owner Earnings per Share (TTM) or its related term are showing as below:


During the past 6 years, the highest Price-to-Owner-Earnings ratio of Corsair Gaming was 39.39. The lowest was 34.87. And the median was 37.83.


CRSR's Price-to-Owner-Earnings is not ranked *
in the Hardware industry.
Industry Median: 17.75
* Ranked among companies with meaningful Price-to-Owner-Earnings only.

Corsair Gaming's Earnings per Share (Diluted) for the three months ended in Mar. 2024 was $-0.12. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was $-0.08. It's PE Ratio ratio for today is At Loss.

Corsair Gaming's EPS without NRI for the three months ended in Mar. 2024 was $-0.12. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was $0.24. It's PE Ratio without NRI ratio for today is 46.25.


Corsair Gaming Owner Earnings per Share (TTM) Historical Data

The historical data trend for Corsair Gaming's Owner Earnings per Share (TTM) 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 Owner Earnings per Share (TTM) Chart

Corsair Gaming Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial - - - - 0.35

Corsair Gaming Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Owner Earnings per Share (TTM) 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 - - - 0.35 -0.28

Competitive Comparison of Corsair Gaming's Owner Earnings per Share (TTM)

For the Computer Hardware subindustry, Corsair Gaming's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Corsair Gaming's Price-to-Owner-Earnings Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Corsair Gaming's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Corsair Gaming's Price-to-Owner-Earnings falls into.



Corsair Gaming Owner Earnings per Share (TTM) Calculation

In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

To make it simple, then you will have:

Owner Earnings per Share (TTM) = (Net Income + Depreciation, Depletion and Amortization + Change In Deferred Tax - 5Y Average of Maintenance Capital Expenditure + Change In Working Capital) / Shares Outstanding (Diluted Average)

Corsair Gaming's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income -12
Depreciation, Depletion and Amortization 51
Change In Deferred Tax -10
5Y Average of Maintenance Capital Expenditure 12
Change In Working Capital -45
Shares Outstanding (Diluted Average) 104

1. Start with "Net Income" from income statement. Corsair Gaming's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was $-12 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Corsair Gaming's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2024 was $51 Mil. This needs to be added back because company does not actually need to pay cash for it. It is a non-cash item.

3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income. Corsair Gaming's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was $-10 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $12 Mil

It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.

The following shows how to get maintenance capital expenditure.

First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.

Corsair Gaming's 5-Year Average Maintenance Capital Expenditure = $12 Mil

5. "Change In Working Capital" is from cashflow statement. Corsair Gaming's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was $-45 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.

6. Corsair Gaming's Shares Outstanding (Diluted Average) for the months ended in Mar. 2024 was 103.563 Mil.

Corsair Gaming's Onwer Earnings Per Share for Mar. 2024 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( -12.143 +50.662+-10.182
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-11.580531683033+-45.263)/103.563
=-0.28

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=11.10/-0.28
=0

* 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.


Be Aware

Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.

Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.


Corsair Gaming Owner Earnings per Share (TTM) Related Terms

Thank you for viewing the detailed overview of Corsair Gaming's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.


Corsair Gaming (Corsair Gaming) Business Description

Industry
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