Corsair Gaming Inc (CRSR)
Working capital turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,316,379 | 1,320,042 | 1,379,036 | 1,443,168 | 1,459,875 | 1,441,319 | 1,389,895 | 1,348,371 | 1,375,098 | 1,486,990 | 1,566,342 | 1,755,337 | 1,904,060 | 1,949,777 | 2,015,759 | 1,923,263 | 1,702,367 | 1,472,583 | 1,299,852 | 1,160,309 |
| Total current assets | US$ in thousands | 623,388 | 571,553 | 579,624 | 621,182 | 711,589 | 679,373 | 661,680 | 632,970 | 622,793 | 515,421 | 554,697 | 626,526 | 705,775 | 708,124 | 731,973 | 711,644 | 690,971 | 627,618 | 503,549 | 390,752 |
| Total current liabilities | US$ in thousands | 396,313 | 361,124 | 322,730 | 342,101 | 418,487 | 394,722 | 365,735 | 348,892 | 342,998 | 325,038 | 356,533 | 384,764 | 446,747 | 475,551 | 494,029 | 499,270 | 505,381 | 444,357 | 365,588 | 257,652 |
| Working capital turnover | 5.80 | 6.27 | 5.37 | 5.17 | 4.98 | 5.06 | 4.70 | 4.75 | 4.91 | 7.81 | 7.90 | 7.26 | 7.35 | 8.38 | 8.47 | 9.06 | 9.17 | 8.04 | 9.42 | 8.72 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,316,379K ÷ ($623,388K – $396,313K)
= 5.80
The working capital turnover ratio for Corsair Gaming Inc fluctuated over the observed periods. Starting at a high of 8.72 in March 2020, the ratio increased to 9.42 by June 2020. Subsequently, the ratio dipped to 8.04 by September 2020, before rising again to 9.17 by December 2020. The trend continued, with some variability, reaching a peak of 9.06 in March 2021.
However, from June 2021 onwards, a gradual decline in the working capital turnover ratio was observed, with values decreasing to 7.26 by March 2023. This downward trend continued, with the ratio touching its lowest point of 4.70 in June 2023. Subsequently, there was a slight uptick in the ratio to 5.80 by December 2024, indicating some improvement in the efficiency of working capital management.
Overall, the working capital turnover ratio for Corsair Gaming Inc showcases fluctuations and a general downward trend in recent periods, suggesting a need for a closer look at the company's working capital management practices to enhance operational efficiency and financial performance.
Peer comparison
Dec 31, 2024