Logitech
LOGI Nasdaq Technology Hardware, Storage & Peripherals Financials FY2017–FY2026
Logitech's revenue rose 6.3% to $4.8 billion in fiscal 2026. Its operating margin was 16.0%, up from 14.4% a year earlier. Free cash flow was $976 million, up 24.1%. It paid out $768 million in dividends and buybacks, 79% of free cash flow. The diluted share count fell 3.0%.
About these figures. Logitech has no borrowings, so debt is counted as zero.
What Logitech does
Logitech designs computer and video accessories that pair hardware with software. Its categories are gaming gear, keyboards and combos, mice and other pointing devices, video collaboration systems, webcams, tablet accessories and headsets. It sells most of them under the Logitech and Logitech G names. Its products work with services such as Zoom, Microsoft Teams, Google Meet, Spotify and Twitch.
Logitech reports one operating segment, Peripherals. It sells in the Americas; Europe, the Middle East and Africa; and Asia Pacific, through retailers, online sellers, distributors, resellers and its own web store. Amazon and its affiliates accounted for 18% of gross sales in fiscal 2026, the latest year in this filing. Logitech names competitors by product, including Razer, HP, Dell, Lenovo, Apple, Cisco, Poly, Jabra, Bose and Sony.
It runs its own factories as well as using outside makers. Its Suzhou operation in China handles approximately 35% of its total production by value. Its manufacturing is spread across six countries. Logitech is a Swiss company, based in Lausanne, and its shares trade on the SIX Swiss Exchange and Nasdaq.
- Legal name
- LOGITECH INTERNATIONAL S.A.
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 10-K · May 21, 2026
- Accession · CIK
- 0001032975-26-000021
0001032975
Revenue and margins
Logitech had $4.8B of revenue in fiscal 2026, up 6.3% on the year before.
Net income and earnings per share
From fiscal 2017 to 2026, diluted EPS grew 16.2% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $976M in fiscal 2026, 20.2% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Logitech returned $768M to shareholders in fiscal 2026, 79% of free cash flow. The diluted share count fell 3.0%.
Value Logitech yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of $1.7B and divides by 148.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 20.1x · peers 37.9x · sector 33.5x.
Balance sheet
Cash, debt and the ratios that show how comfortably Logitech can carry it.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.3B | $1.1B | $1.5B | $1.5B | $1.7B |
| Debt incl. finance leases | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net debt / EBITDA | −1.5x | −2.1x | −2.3x | −2.1x | −2.0x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | 2.2x | 2.5x | 2.4x | 2.4x | 2.2x |
| Quick ratio | 1.5x | 1.8x | 2.0x | 1.9x | 1.9x |
| Total assets | $4.0B | $3.6B | $3.6B | $3.5B | $3.8B |
| Total liabilities | $1.6B | $1.3B | $1.4B | $1.4B | $1.6B |
| Shareholders' equity | $2.4B | $2.3B | $2.2B | $2.1B | $2.2B |
| Net debt (− = net cash) | −$1.3B | −$1.1B | −$1.5B | −$1.5B | −$1.7B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$2.4M
2 insiders
Of sales under plans
70%
$1.6M
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 | FY26 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✕ | ✕ | ✕ |
| Current ratio rose | ✕ | ✕ | ✕ |
| Share count didn't rise | ✓ | ✓ | ✓ |
| Gross margin rose | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | ✓ | ✓ | ✓ |
| F-score | 7 / 9 | 7 / 9 | 7 / 9 |
| Accruals ratio | −14.9% | −5.9% | −8.8% |
| Altman Z'' | 8.88 | 8.93 | 8.37 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Logitech LOGI | $15.9B | 6.3% | 16.0% | 20.2% | 121.9% | 20.1x | 7 | |
| Everpure P | $42.6B | 15.6% | 3.1% | 16.8% | — | 168.9x | 7 | Compare → |
| NetApp NTAP | $43.1B | 5.4% | 24.2% | 27.0% | — | 30.4x | 7 | Compare → |
| Seagate Technology STX | $144.4B | 34.1% | 33.6% | 25.5% | 92.0% | — | 8 | Compare → |
| Western Digital WDC | $132.0B | 35.7% | 34.5% | 27.2% | 52.2% | 13.3x | 7 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $2.2B | $2.6B | $2.8B | $3.0B | $5.3B | $5.5B | $4.5B | $4.3B | $4.6B | $4.8B |
| Gross profit | $820M | $909M | $1.0B | $1.1B | $2.3B | $2.3B | $1.7B | $1.8B | $2.0B | $2.1B |
| Research and development | $131M | $144M | $161M | $178M | $226M | $292M | $281M | $287M | $309M | $316M |
| Operating income | $212M | $230M | $263M | $277M | $1.1B | $774M | $459M | $587M | $655M | $775M |
| Pretax income | $215M | $232M | $271M | $324M | $1.1B | $776M | $464M | $622M | $707M | $827M |
| Income tax | $9.1M | $23.7M | $13.6M | −$125M | $201M | $131M | $98.9M | $9.5M | $75.3M | $115M |
| Net income | $206M | $209M | $258M | $450M | $947M | $645M | $365M | $612M | $632M | $711M |
| Diluted EPS | $1.24 | $1.23 | $1.52 | $2.66 | $5.51 | $3.78 | $2.23 | $3.87 | $4.13 | $4.80 |
| Diluted shares | 0.17B | 0.17B | 0.17B | 0.17B | 0.17B | 0.17B | 0.16B | 0.16B | 0.15B | 0.15B |
| Cash flow | ||||||||||
| Cash from operations | $288M | $346M | $305M | $425M | $1.5B | $298M | $534M | $1.1B | $843M | $1.0B |
| Capital expenditure | $31.8M | $39.7M | $35.9M | $39.5M | $76.2M | $89.2M | $92.4M | $55.9M | $56.1M | $61.6M |
| Free cash flow | $257M | $307M | $269M | $386M | $1.4B | $209M | $442M | $1.1B | $786M | $976M |
| Depreciation and amortization | $50.5M | $56.9M | $67.7M | $73.8M | $82.6M | $119M | $101M | $84.7M | $79.8M | $77.5M |
| Stock-based compensation | $35.9M | $44.1M | $50.3M | $54.9M | $86.0M | $93.5M | $70.8M | $82.9M | $89.9M | $112M |
| Acquisitions | $67.0M | $88.3M | $134M | $91.6M | $43.5M | $16.2M | $8.5M | $14.4M | $0.0M | $0.0M |
| Share buybacks | $83.8M | $30.7M | $32.4M | $50.4M | $165M | $412M | $418M | $504M | $589M | $535M |
| Dividends paid | $93.1M | $104M | $114M | $124M | $147M | $159M | $159M | $182M | $208M | $233M |
| Dividends and buybacks | $177M | $135M | $146M | $175M | $312M | $571M | $577M | $687M | $797M | $768M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $548M | $642M | $605M | $716M | $1.8B | $1.3B | $1.1B | $1.5B | $1.5B | $1.7B |
| Total debt | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $1.0B | $1.2B | $1.4B | $1.4B | $3.2B | $3.1B | $2.6B | $2.6B | $2.6B | $2.9B |
| Current liabilities | $507M | $576M | $718M | $714M | $1.7B | $1.4B | $1.1B | $1.1B | $1.1B | $1.3B |
| Inventory | $253M | $260M | $294M | $229M | $661M | $933M | $683M | $423M | $504M | $490M |
| Property and equipment, net | $85.4M | $86.3M | $78.6M | $76.1M | $114M | $110M | $122M | $117M | $114M | $117M |
| Total assets | $1.5B | $1.7B | $2.0B | $2.4B | $4.1B | $4.0B | $3.6B | $3.6B | $3.5B | $3.8B |
| Total liabilities | $643M | $693M | $848M | $874M | $1.9B | $1.6B | $1.3B | $1.4B | $1.4B | $1.6B |
| Shareholders' equity | $856M | $1.1B | $1.2B | $1.5B | $2.3B | $2.4B | $2.3B | $2.2B | $2.1B | $2.2B |
| Margins | ||||||||||
| Gross margin | 36.9% | 35.4% | 37.2% | 37.7% | 44.5% | 41.3% | 37.9% | 41.4% | 43.1% | 43.2% |
| Operating margin | 9.5% | 9.0% | 9.4% | 9.3% | 21.9% | 14.1% | 10.1% | 13.7% | 14.4% | 16.0% |
| EBITDA margin | 11.8% | 11.2% | 11.9% | 11.8% | 23.4% | 16.3% | 12.3% | 15.6% | 16.1% | 17.6% |
| Net margin | 9.3% | 8.1% | 9.2% | 15.1% | 18.0% | 11.8% | 8.0% | 14.2% | 13.9% | 14.7% |
| FCF margin | 11.6% | 11.9% | 9.7% | 13.0% | 26.3% | 3.8% | 9.7% | 25.3% | 17.3% | 20.2% |
| Returns | ||||||||||
| Return on capital | 73.9% | 57.5% | 51.0% | 41.1% | 147.4% | 81.3% | 33.1% | 63.5% | 87.5% | 121.9% |
| Return on capital employed | 22.3% | 21.3% | 21.3% | 18.7% | 55.9% | 30.5% | 17.9% | 23.4% | 26.4% | 31.2% |
| Return on equity | 25.5% | 21.9% | 23.1% | 33.7% | 50.5% | 27.7% | 15.7% | 27.3% | 29.0% | 32.8% |
| Return on assets | 14.6% | 12.9% | 13.7% | 20.5% | 29.1% | 15.8% | 9.6% | 17.1% | 17.7% | 19.3% |
| Growth | ||||||||||
| Revenue growth | 10.1% | 15.6% | 8.6% | 6.7% | 76.5% | 4.4% | −17.2% | −5.3% | 6.0% | 6.3% |
| Net income growth | 72.6% | 1.3% | 23.5% | 74.6% | 110.6% | −32.0% | −43.4% | 67.9% | 3.2% | 12.6% |
| EPS growth | 72.2% | −0.8% | 23.6% | 75.0% | 107.1% | −31.4% | −41.0% | 73.5% | 6.7% | 16.2% |
| FCF growth | 99.6% | 19.5% | −12.2% | 43.2% | 258.6% | −84.9% | 111.2% | 146.6% | −27.8% | 24.1% |
| Share count change | −0.2% | 2.1% | 0.0% | 0.3% | 1.4% | −0.8% | −3.9% | −3.4% | −3.4% | −3.0% |
| Financial health | ||||||||||
| Net debt / EBITDA | −2.1x | −2.2x | −1.8x | −2.0x | −1.4x | −1.5x | −2.1x | −2.3x | −2.1x | −2.0x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | 2.0x | 2.0x | 1.9x | 2.0x | 1.9x | 2.2x | 2.5x | 2.4x | 2.4x | 2.2x |
| Quick ratio | 1.5x | 1.6x | 1.5x | 1.7x | 1.5x | 1.5x | 1.8x | 2.0x | 1.9x | 1.9x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.4% | 1.6% | 1.3% | 1.3% | 1.5% | 1.6% | 2.0% | 1.3% | 1.2% | 1.3% |
| Stock comp / revenue | 1.6% | 1.7% | 1.8% | 1.8% | 1.6% | 1.7% | 1.6% | 1.9% | 2.0% | 2.3% |
| Payouts / FCF | 68.9% | 44.0% | 54.4% | 45.3% | 22.5% | 273.2% | 130.7% | 63.0% | 101.3% | 78.7% |
| Quality scores | ||||||||||
| Piotroski F-score | 7.0 | 5.0 | 6.0 | 5.0 | 6.0 | 4.0 | 5.0 | 7.0 | 7.0 | 7.0 |
| Altman Z'' | 7.0 | 7.0 | 6.6 | 6.9 | 7.4 | 7.9 | 8.5 | 8.9 | 8.9 | 8.4 |
| Accruals ratio | −5.9% | −8.5% | −2.5% | 1.1% | −15.7% | 8.5% | −4.5% | −14.9% | −5.9% | −8.8% |
Source: SEC EDGAR XBRL filings (CIK 0001032975). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.