Logitech International S.a.

Technology
Computer peripheral equipment
www.logitech.com

Earnings Score
Moat Score

Market Cap $12.33B
PE 18
Debt $NaN
Cash $1.53B
EV $NaN
FCF $1.03B

Earnings

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Sales & Net Margins

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Earnings	$691.25M
EBIT	$710.58M
ROE	31%
ROA	19%
FCF	$1.03B
Equity	$2.25B
Growth Stability	54%
PE	17.84
PEG	30.11
PB	5.48
P/FCF	12.01
P/S	2.79
Price/Cash	0.12
Net Margins	13%
Gross Margins	42%
Op. Margins	16%
Earnings CAGR	20%
Sales Growth YoY	12%
Sales Growth QoQ	8%
Sales CAGR	13%
FCF CAGR	21%
Equity CAGR	16%
Earnings Stability	0.58

Earnings Growth YoY	126%
Earnings Growth QoQ	-15%
Earnings CAGR 5Y	1%
Sales CAGR 5Y	8%
FCF CAGR 5Y	13%
Equity CAGR 5Y	11%
Earnings CAGR 3Y	-12%
Sales CAGR 3Y	-12%
FCF CAGR 3Y	45%
Equity CAGR 3Y	-2%
Market Cap	$12.33B
Revenue	$4.41B
Assets	$3.68B
Cash	$1.53B
Shares Outstanding	153.3M
Earnings Score	85%
Moat Score	95%
Working Capital	1.59B
Current Ratio	2.39
Shares Growth 3y	-3%
Equity Growth QoQ	1%
Equity Growth YoY	1%

Assets & ROA

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Stockholders Equity & ROE

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Logitech International SA is a Switzerland-based provider of personal computer and mobile accessories for navigation, video communication, and collaboration, smart home, and other applications. Its product portfolio includes mice, keyboards, charging stands, tablet cases, car mounts for mobile devices, remotes, home cameras, home switches, controllers, bluetooth speakers, surround sound, webcams, and conference cameras. It operates in a single segment namely, Peripherals. The firm generates revenue from the Americas, EMEA (Europe, Middle East, Africa), and the Asia Pacific region.

SEC Filings

Direct access to Logitech International S.a. (LOGI) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Jun 30
- 10-K Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-K Mar 31
2022
- 10-Q Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-K Mar 31

Sector Comparison

How does Logitech International S.a. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Logitech International S.a.compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 20%

Stability 58%

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Discounted Cash Flow

Fully customizable DCF calculator online for Logitech International S.a..

Years

Calculation mode

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$1B	$1.2B	$1.5B	$1.8B	$2.2B	$2.7B	$3.3B	$3.9B	$4.8B	$5.8B	$7B	$70B
DCF		$1.1B	$1.2B	$1.4B	$1.5B	$1.7B	$1.8B	$2B	$2.2B	$2.5B	$2.7B	$27B
Value	$45B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	03/2015	03/2016	03/2017	03/2018	03/2019	03/2020	03/2021	03/2022	03/2023	03/2024	TTM
Net Margins	0%	6%	9%	8%	9%	15%	18%	12%	8%	14%	13%
ROA	-	10%	14%	14%	14%	14%	28%	19%	13%	17%	19%
ROE	-	16%	24%	20%	22%	30%	42%	27%	16%	27%	31%

Good Net Margins (13.03%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	03/2015	03/2016	03/2017	03/2018	03/2019	03/2020	03/2021	03/2022	03/2023	03/2024	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	100%	100%	100%	100%	100%	54%	94%	54%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (54%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	03/2015	03/2016	03/2017	03/2018	03/2019	03/2020	03/2021	03/2022	03/2023	03/2024	CAGR 5Y
Revenue YoY growth	-	-5%	10%	16%	9%	7%	76%	4%	-17%	-5%	8%
Earnings YoY growth	-	1K%	73%	1%	24%	75%	111%	-32%	-43%	68%	1%
Equity YoY growth	-	0%	13%	23%	12%	27%	52%	6%	-6%	-1%	11%
FCF YoY growth	-	-5%	95%	24%	-12%	43%	259%	-85%	111%	147%	13%