Corsair Gaming Inc (CRSR)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,316,380 | 1,459,880 | 1,375,100 | 1,904,060 | 1,702,370 |
| Total current assets | US$ in thousands | 623,388 | 711,589 | 622,793 | 705,775 | 690,971 |
| Total current liabilities | US$ in thousands | 396,313 | 418,487 | 342,998 | 446,747 | 505,381 |
| Working capital turnover | 5.80 | 4.98 | 4.91 | 7.35 | 9.17 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,316,380K ÷ ($623,388K – $396,313K)
= 5.80
Corsair Gaming Inc's working capital turnover has shown a declining trend over the past five years. The ratio decreased from 9.17 in December 31, 2020, to 7.35 in December 31, 2021, then to 4.91 in December 31, 2022. Subsequently, there was a slight increase to 4.98 in December 31, 2023, before rising to 5.80 in December 31, 2024.
This indicates that the company's ability to generate sales from its working capital has been weakening, as it took fewer sales generated per dollar of working capital over time. The decrease in the ratio may suggest inefficiencies in managing working capital or potential issues in inventory management and accounts receivable collection.
It is essential for Corsair Gaming Inc to closely monitor its working capital turnover to ensure optimal utilization of resources and improve efficiency in its operations to support sustainable growth.
Peer comparison
Dec 31, 2024