Corsair Gaming Inc (CRSR)
Working capital turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | |||
| Total current assets | US$ in thousands | 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 |
| Total current liabilities | US$ in thousands | 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 |
| Working capital turnover | 4.98 | 5.06 | 4.70 | 4.75 | 4.91 | 7.81 | 7.90 | 7.26 | 7.35 | 8.38 | 8.47 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,459,875K ÷ ($711,589K – $418,487K)
= 4.98
Corsair Gaming Inc's working capital turnover has fluctuated over the quarters, ranging from a high of 7.90 in Q3 2022 to a low of 4.70 in Q2 2023. The working capital turnover measures how efficiently the company is utilizing its working capital to generate sales revenue. A higher turnover ratio indicates a more efficient use of working capital.
In this case, Corsair Gaming Inc's working capital turnover has generally remained healthy, consistently above the industry average. The higher turnover ratios in Q2 and Q3 of 2022 indicate the company was able to generate more sales revenue relative to its working capital investment during those periods. However, the decline in turnover in Q2 and Q3 of 2023 may signal a less efficient use of working capital to drive sales.
Overall, Corsair Gaming Inc should continue monitoring its working capital turnover to ensure it is optimizing its working capital management and maintaining a healthy balance between liquidity and operational efficiency.
Peer comparison
Dec 31, 2023