10-K · May 23, 2025
Logitech presents a design-led, software-enabled hardware strategy focused on 'Work and Play', expanding B2B while investing in R&D and new products (e.g., MX Creative console launched in fiscal 2025). The company…
Earnings analysis · 10-K
LOGI earnings analysis
Filed May 21, 2026 · Our reading of the company's report
The latest report
Logitech reported a 6% year-over-year revenue increase for fiscal year 2026, reaching $4.84 billion, driven by demand growth in Gaming and Video Collaboration segments. The company achieved a gross margin of 43.2%,…
Read full summary
Logitech reported a 6% year-over-year revenue increase for fiscal year 2026, reaching $4.84 billion, driven by demand growth in Gaming and Video Collaboration segments. The company achieved a gross margin of 43.2%, reflecting effective pricing strategies and cost management, while net income rose to $711.2 million, a 12.6% increase from the previous year. The company's outlook remains optimistic with strong cash flow generation and a robust share repurchase program activated for continued shareholder value.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $4.8
- Gross margin
- 43.2%
- Segment
- Gaming
- Segment
- Video Collaboration
- Segment
- Keyboards & Combos
What stood out
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Strong Annual Revenue Growth
Revenue grew by 6% year-over-year to $4.84 billion in FY26, driven by gains in key segments.
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Improved Profitability Metrics
Gross margin increased to 43.2% in FY26, up from 43.1% in FY25.
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Significant EPS Uptrend
Diluted EPS rose to $4.80 in FY26 compared to $4.13 in FY25.
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Robust Free Cash Flow Generation
Free cash flow reached $1.04 billion in FY26, demonstrating strong operational efficiency.
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Healthy Capital Allocation
Recommended dividend of CHF 1.36 ($1.70) per share for FY26; increased share repurchases indicate commitment to return capital to shareholders.
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Expansion in Key Market Segments
Gaming and Video Collaboration segments drove revenue growth, with increases of 6% and 10% respectively.
What to watch
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Supply Chain Vulnerabilities
Manufacturing primarily in China exposes Logitech to risks including geopolitical tensions and tariff changes, potentially impacting its operations.
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Reliance on Key Customers
Sales concentration risk is notable, as 12% of FY26 revenue came from Amazon, representing significant dependency on few major clients.
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Increased Competition in Gaming
The gaming sector is growing competitive, which may pressure margins if Logitech cannot innovate effectively or maintain market share.
Management's outlook
Annual outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · January 29, 2025
Logitech reported quarterly net sales of $1,340,294 (in thousands) with gross profit of $574,441 (in thousands) and operating income of $234,556 (in thousands). Revenue and operating margins improved versus the…
10-Q · October 24, 2024
Logitech reported net sales of $1,116,034 (in thousands) for the three months ended September 30, 2024, up $59,026 (5.6%) versus $1,057,008 in the prior-year quarter. Gross profit increased to $486,091 (in thousands)…
10-Q · July 25, 2024
Logitech reported a strong quarter: net sales of $1,088,217,000 (up $113,718,000 or 11.7% YoY), gross profit expanded to $466,258,000 (gross margin ~42.9%), and operating income roughly doubled to $153,499,000. Net…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.