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Corsair Gaming vs Palo Alto Networks: revenue, profit, margins and growth compared

Corsair Gaming brought in $1.5B of revenue in fiscal 2025, Palo Alto Networks $11.5B in fiscal 2026. Revenue changed by +11.9% at Corsair Gaming and +24.5% at Palo Alto Networks on the year before, so Palo Alto Networks grew faster. Corsair Gaming kept -1.1% of its revenue as net profit, Palo Alto Networks 2.7%. Free cash flow was $34.7M at Corsair Gaming and $4.1B at Palo Alto Networks.

Side by side, latest fiscal year

CRSRPANW
Fiscal year endedFY2025 (December 31, 2025)FY2026 (July 31, 2026)
Revenue$1.5B$11.5B
Revenue growth+11.9%+24.5%
Net income-$16.2M$307M
Net margin-1.1%2.7%
Free cash flow$34.7M$4.1B
Free cash flow margin2.4%35.8%
Earnings per share (diluted)-$0.12$0.40
Cash$98.8M$2.5B
Debt$121.3Mn/a
Price to earningsn/a936.9
Market value$1.5B$305.4B
Dividend yieldn/an/a
Rank by revenue in sector#178 of 530 · Technology#55 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: $1.5BPANW FY2019: $2.9BPANW FY2020: $3.4BPANW FY2021: $4.3BPANW FY2022: $5.5BPANW FY2023: $6.9BPANW FY2024: $8BPANW FY2025: $9.2BPANW FY2026: $11.5BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRSR $1.5BPANW $11.5B
Net income
CRSR FY2018: -$13.7MCRSR FY2020: -$8.4MCRSR FY2020: $103.2MCRSR FY2021: $101MCRSR FY2022: -$54.4MCRSR FY2023: -$2.6MCRSR FY2024: -$85.2MCRSR FY2025: -$16.2MPANW FY2019: -$81.9MPANW FY2020: -$267MPANW FY2021: -$498.9MPANW FY2022: -$267MPANW FY2023: $439.7MPANW FY2024: $2.6BPANW FY2025: $1.1BPANW FY2026: $307MFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRSR -$16.2MPANW $307M
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%PANW FY2019: -2.8%PANW FY2020: -7.8%PANW FY2021: -11.7%PANW FY2022: -4.9%PANW FY2023: 6.4%PANW FY2024: 32.1%PANW FY2025: 12.3%PANW FY2026: 2.7%FY18FY19FY20FY21FY22FY23FY24FY25FY26
CRSR -1.1%PANW 2.7%
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%PANW FY2020: +17.5%PANW FY2021: +24.9%PANW FY2022: +29.3%PANW FY2023: +25.3%PANW FY2024: +16.5%PANW FY2025: +14.9%PANW FY2026: +24.5%FY20FY21FY22FY23FY24FY25FY26
CRSR +11.9%PANW +24.5%
Free cash flow
CRSR FY2018: -$7.9MCRSR FY2020: $28.3MCRSR FY2020: $160MCRSR FY2021: $9.2MCRSR FY2022: $40.1MCRSR FY2023: $76.4MCRSR FY2024: $26MCRSR FY2025: $34.7MPANW FY2019: $924.4MPANW FY2020: $821.3MPANW FY2021: $1.4BPANW FY2022: $1.8BPANW FY2023: $2.6BPANW FY2024: $3.1BPANW FY2025: $3.5BPANW FY2026: $4.1BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRSR $34.7MPANW $4.1B

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

Questions about Corsair Gaming and Palo Alto Networks

Which is bigger by revenue, Corsair Gaming or Palo Alto Networks?

Palo Alto Networks is bigger by revenue: $11.5B in fiscal 2026, against $1.5B for Corsair Gaming in fiscal 2025.

Which keeps more of its revenue as profit, Corsair Gaming or Palo Alto Networks?

Corsair Gaming had a net margin of -1.1% in fiscal 2025; Palo Alto Networks had 2.7% in fiscal 2026.

Which grew revenue faster, Corsair Gaming or Palo Alto Networks?

In their latest fiscal years revenue changed by +11.9% at Corsair Gaming and +24.5% at Palo Alto Networks.

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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