Corsair Gaming Inc (CRSR)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 1.70 | 1.72 | 1.81 | 1.81 | 1.82 | 1.59 | 1.56 | 1.63 | 1.58 | 1.49 | 1.48 |
| Quick ratio | 1.02 | 1.08 | 1.10 | 1.15 | 1.13 | 0.66 | 0.58 | 0.69 | 0.79 | 0.68 | 0.80 |
| Cash ratio | 0.42 | 0.44 | 0.50 | 0.51 | 0.44 | 0.18 | 0.10 | 0.08 | 0.14 | 0.15 | 0.27 |
Corsair Gaming Inc's liquidity ratios have shown some fluctuations over the past eight quarters. The current ratio, which measures the company's ability to cover its short-term obligations with its current assets, has generally been above 1, indicating a healthy liquidity position. The ratio peaked at 1.82 in Q4 2022 and has remained relatively stable, ranging between 1.56 and 1.81 in the subsequent quarters.
The quick ratio, a more stringent measure of liquidity that excludes inventory from current assets, shows a similar trend of fluctuation. While the quick ratio has generally been above 1, suggesting that the company can meet its short-term obligations without relying on inventory, it reached a low of 0.73 in Q3 2022 before recovering to 1.27 in Q1 2023.
The cash ratio, which is the most conservative liquidity ratio focusing solely on the company's ability to cover its short-term liabilities with its cash and cash equivalents, has also shown variability. The ratio has improved from 0.23 in Q1 2022 to a peak of 0.63 in Q2 2023, indicating an increasing ability to pay off short-term obligations with cash on hand.
Overall, the liquidity ratios of Corsair Gaming Inc reflect a general trend of maintaining a strong liquidity position, with some fluctuations observed over the periods analyzed. Investors and stakeholders may find these ratios useful in assessing the company's ability to meet its short-term financial obligations.
Additional liquidity measure
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash conversion cycle | days | 63.39 | 70.34 | 63.47 | 59.98 | 69.55 | 65.82 | 69.42 | 76.17 | 72.17 | 69.20 | 49.83 |
The cash conversion cycle of Corsair Gaming Inc fluctuated over the past eight quarters. In Q4 2023, the company's cash conversion cycle was 63.39 days, representing a slight improvement from Q3 2023. However, compared to the same quarter last year, the cycle has decreased significantly.
On a quarterly basis, Q2 and Q4 tend to have lower cash conversion cycles, indicating efficient management of cash flows and working capital during those periods. Conversely, Q1 and Q3 show longer cycles, suggesting challenges in efficiently converting sales into cash during those quarters.
Overall, Corsair Gaming Inc should focus on maintaining a shorter cash conversion cycle to optimize working capital management and enhance cash flow efficiency throughout the year. Further analysis and targeted strategies could help the company smooth out fluctuations and improve its financial performance in the future.