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Logitech International S.A.

Rank #74Capital Return

LOGI · Nasdaq · Technology

Logitech International S.A. (LOGI) — Rank #74 by gross profitability (GP/assets 0.52) · ROE 30.2% · Piotroski F-Score 6 / 9.

As-of 2026-09-15 · CIK 0001032975 · all metrics point-in-time as of the filing date.

About

Logitech International S.A., through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, and gaming worldwide.

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The company offers products for gamers and streamers, including mice, steering wheels, headsets, keyboards, console gaming headsets, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mouse; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; webcams, including streaming cameras; tablet accessories that includes tablet keyboards; headsets, including in-ear headphones and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers. It sells its products to retailers, large and small businesses, end consumers, and e-tailers who resell to retailers, value-added resellers, systems integrators, and other distributors. The company sells its products under the Logitech and Logitech G brand names. Logitech International S.A.

was incorporated in 1981 and is headquartered in Lausanne, Switzerland.

Industry
Computer Hardware
Sector
Technology
Filer Category
Large accelerated filer
Fiscal Year End
March 31

Price History

LOGI+7.9% · +1.5% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$14.38B

P/E (annual)

20.9

P/S (annual)

3.0

P/B

6.1

P/OCF (annual)

13.9

Shareholder Yield

3.0%

Employees

7,300

Industry

Computer Hardware

Exchange

Nasdaq

Signal Flags

4 green
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak

Quality Profile

Profitability

1/1 pass
GP / assets
0.52
Return on equity
30.2%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.72
Current ratio
2.31×
Net cash
$1.75B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
2.3%

Growth

2/2 pass
Revenue growth
6.3%
Piotroski F-Score
6 / 9
Share dilution
-3.0%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

4.0%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -3.0% — per-share value needs a total required return of 1.0% once share-count change is priced in.

vs. own 6-year median revenue growth: 5.2%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

-0.1%

r = 10% (base)

4.0%

r = 12%

7.6%

Net debt / market cap: -11.8%

Base FCF: $975.6M3Y mean FCF: $950.4M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

22.0xFair
15.5xmed 22.5x31.1x

P / S

Price / revenue per share

3.2xExpensive
1.8xmed 2.8x3.3x

P / B

Price / book value per share

7.1xExpensive
4.2xmed 6.2x7.6x

P / GP

Price / gross profit per share

7.5xFair
4.4xmed 7.2x8.3x

P / FCF

Price / free cash flow per share

16.1xCheap
12.4xmed 22.3x47.7x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.52

Primary signal (Novy-Marx).

94th pctl of 36 SIC 35 peers

Return on equity

30.2%

Gross margin

43.2%

54th pctl of 36 SIC 35 peers

Revenue growth (YoY)

6.3%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

2.2%

Revenue CAGR (5Y)

-1.6%

Earnings CAGR (3Y)

24.9%

FCF CAGR (3Y)

30.2%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.72

71st pctl of 36 SIC 35 peers (best = lowest)

Current ratio

2.31×

63rd pctl of 36 SIC 35 peers

Quick ratio

1.79×

Net cash

$1.75B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$975.64M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.37

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

2.3%

Stock-based comp intensity.

Piotroski F-Score

F-Score

6 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20212026
Hypergrowth
Value
Decline
Capital Return
View full financial statements →