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Corsair Gaming vs Fortinet: revenue, profit, margins and growth compared

Corsair Gaming brought in $1.5B of revenue in fiscal 2025, Fortinet $6.8B in fiscal 2025. Revenue changed by +11.9% at Corsair Gaming and +14.2% at Fortinet on the year before, so Fortinet grew faster. Corsair Gaming kept -1.1% of its revenue as net profit, Fortinet 27.3%. Free cash flow was $34.7M at Corsair Gaming and $2.2B at Fortinet.

Side by side, latest fiscal year

CRSRFTNT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.5B$6.8B
Revenue growth+11.9%+14.2%
Net income-$16.2M$1.9B
Net margin-1.1%27.3%
Free cash flow$34.7M$2.2B
Free cash flow margin2.4%32.7%
Earnings per share (diluted)-$0.12$2.42
Cash$98.8M$2.5B
Debt$121.3M$996.3M
Price to earningsn/a71.7
Market value$1.5B$127.3B
Dividend yieldn/an/a
Rank by revenue in sector#178 of 530 · Technology#72 of 530 · Technology

Over the years

Revenue
CRSR FY2018: $937.6MCRSR FY2020: $1.1BCRSR FY2020: $1.7BCRSR FY2021: $1.9BCRSR FY2022: $1.4BCRSR FY2023: $1.5BCRSR FY2024: $1.3BCRSR FY2025: $1.5BFTNT FY2018: $1.8BFTNT FY2019: $2.2BFTNT FY2020: $2.6BFTNT FY2021: $3.3BFTNT FY2022: $4.4BFTNT FY2023: $5.3BFTNT FY2024: $6BFTNT FY2025: $6.8BFY18FY19FY20FY21FY22FY23FY24FY25
CRSR $1.5BFTNT $6.8B
Net income
CRSR FY2018: -$13.7MCRSR FY2020: -$8.4MCRSR FY2020: $103.2MCRSR FY2021: $101MCRSR FY2022: -$54.4MCRSR FY2023: -$2.6MCRSR FY2024: -$85.2MCRSR FY2025: -$16.2MFTNT FY2018: $334.9MFTNT FY2019: $331.7MFTNT FY2020: $488.5MFTNT FY2021: $606.8MFTNT FY2022: $857.3MFTNT FY2023: $1.1BFTNT FY2024: $1.7BFTNT FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
CRSR -$16.2MFTNT $1.9B
Net margin
CRSR FY2018: -1.5%CRSR FY2020: -0.8%CRSR FY2020: 6.1%CRSR FY2021: 5.3%CRSR FY2022: -4.0%CRSR FY2023: -0.2%CRSR FY2024: -6.5%CRSR FY2025: -1.1%FTNT FY2018: 18.6%FTNT FY2019: 15.3%FTNT FY2020: 18.8%FTNT FY2021: 18.2%FTNT FY2022: 19.4%FTNT FY2023: 21.6%FTNT FY2024: 29.3%FTNT FY2025: 27.3%FY18FY19FY20FY21FY22FY23FY24FY25
CRSR -1.1%FTNT 27.3%
Revenue growth
CRSR FY2020: +17.0%CRSR FY2020: +55.2%CRSR FY2021: +11.8%CRSR FY2022: -27.8%CRSR FY2023: +6.2%CRSR FY2024: -9.8%CRSR FY2025: +11.9%FTNT FY2019: +19.9%FTNT FY2020: +19.9%FTNT FY2021: +28.8%FTNT FY2022: +32.2%FTNT FY2023: +20.1%FTNT FY2024: +12.3%FTNT FY2025: +14.2%FY19FY20FY21FY22FY23FY24FY25
CRSR +11.9%FTNT +14.2%
Free cash flow
CRSR FY2018: -$7.9MCRSR FY2020: $28.3MCRSR FY2020: $160MCRSR FY2021: $9.2MCRSR FY2022: $40.1MCRSR FY2023: $76.4MCRSR FY2024: $26MCRSR FY2025: $34.7MFTNT FY2018: $585.9MFTNT FY2019: $715.8MFTNT FY2020: $957.8MFTNT FY2021: $1.2BFTNT FY2022: $1.4BFTNT FY2023: $1.7BFTNT FY2024: $1.9BFTNT FY2025: $2.2BFY18FY19FY20FY21FY22FY23FY24FY25
CRSR $34.7MFTNT $2.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Corsair Gaming and Fortinet

Which is bigger by revenue, Corsair Gaming or Fortinet?

Fortinet is bigger by revenue: $6.8B in fiscal 2025, against $1.5B for Corsair Gaming in fiscal 2025.

Which keeps more of its revenue as profit, Corsair Gaming or Fortinet?

Corsair Gaming had a net margin of -1.1% in fiscal 2025; Fortinet had 27.3% in fiscal 2025.

Which grew revenue faster, Corsair Gaming or Fortinet?

In their latest fiscal years revenue changed by +11.9% at Corsair Gaming and +14.2% at Fortinet.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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