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Logitech
(NASDAQ:LOGN)
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Rating:74Outperform
Price Target:
CHF92.00
▲(7.03% Upside)
Action:Reiterated
Date:07/31/26
The score is driven primarily by strong financial quality (healthy margins, very low leverage, and solid cash conversion). Offsetting factors are mixed technical positioning (below the 50-day moving average) and a near-term earnings risk highlighted on the call from a semiconductor supply disruption that could meaningfully pressure Q2–Q3 results; valuation is acceptable but not notably discounted.
Positive Factors
Strong Profitability and Margin Expansion
Logitech combines strong gross and operating margins with recent expansion even excluding tariff refunds. This supports internal investment, resilience against demand pressure, and the ability to sustain profitability across its diversified hardware portfolio.
Negative Factors
Semiconductor Supply Disruption
The supplier incident creates a meaningful execution risk over the next several quarters, potentially limiting product availability and delaying revenue despite underlying demand. Uncertain recovery timing also complicates inventory, channel, and production planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability and Margin Expansion
Logitech combines strong gross and operating margins with recent expansion even excluding tariff refunds. This supports internal investment, resilience against demand pressure, and the ability to sustain profitability across its diversified hardware portfolio.
Read all positive factors
Logitech (LOGN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF11.33B
Dividend Yield1.65%
Average Volume (3M)705.00K
Price to Earnings (P/E)17.4
Beta (1Y)1.12
Revenue Growth-2.36%
EPS Growth18.71%
CountryCH
Employees7,300
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)5.49
Shares Outstanding160,784,450
10 Day Avg. Volume583,835
30 Day Avg. Volume705,002
Financial Highlights & Ratios
PEG Ratio1.13
Price to Book (P/B)5.99
Price to Sales (P/S)2.74
P/FCF Ratio13.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF87.06Price Target Upside1.28% Upside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)5.59
Revenue Forecast (FY)CHF4.88B
Logitech Business Overview & Revenue Model
Company Description
Logitech International S.A., operating worldwide through its various subsidiaries, specializes in crafting, producing, and distributing an array of devices designed to link users with digital and cloud-based experiences. The company's diverse prod...
How the Company Makes Money
Logitech makes money primarily by selling hardware devices and related accessories through a global mix of retail and e-commerce channels. Revenue is generated across product categories that typically include: (1) PC peripherals (e.g., mice, keybo...
Logitech Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational performance: consistent revenue growth, significant margin expansion (even excluding one-time tariff refunds), category leadership (pointing devices, video collaboration, gaming), robust cash generation and share gains across regions. Key risks include a semiconductor supplier fab shutdown with a measurable near-term revenue impact (Q2 ~$20M; potential Q3 impact up to ~$200M), EMEA weakness tied to geopolitical events, and higher Opex from growth investments. On balance the positives (diverse growth drivers, margin strength, cash generation, and product momentum) outweigh the near-term supply and regional headwinds.Positive Updates
Top-line Growth and Consistency
Net sales of $1.2B, up 7% in U.S. dollars and 5% in constant currency; marked the company's 10th consecutive quarter of growth.
Negative Updates
Supplier Semiconductor Incident
Late-June closure of a semiconductor supplier fab is causing supply disruption: Q2 outlook contemplates ~ $20M net sales impact; estimated up to ~$200M revenue impact in Q3 based on limited info; supplier reopening expected by Q4 but timing remains uncertain.
Read all updates
Q1-2027 Updates
Positive
Negative
Top-line Growth and Consistency
Net sales of $1.2B, up 7% in U.S. dollars and 5% in constant currency; marked the company's 10th consecutive quarter of growth.
Read all positive updates
Company Guidance
Logitech guided Q2 FY27 revenue growth of 0–3% in constant currency (assumes roughly $20M of net‑sales impact from a supplier semiconductor fab shutdown), a gross margin of ~44% and non‑GAAP operating income of $185M–$210M (down year‑over‑year); for FY27 management said, absent the disruption, top‑line momentum should track roughly at Q1 rates but they currently estimate up to ~$200M of revenue loss in Q3 from the supplier issue with little‑to‑no impact expected in Q4, and full‑year non‑GAAP operating margin is expected to track near the high end of the 15%–18% long‑term target range. For context, Q1 results included net sales growth of 5% in constant currency (7% in USD), non‑GAAP operating income of $290M including $61M tariff refunds ($229M ex‑refund, +14% YoY), non‑GAAP gross margin of 49.8% incl. refunds / 44.8% ex‑refund (≈+270 bps YoY), cash flow from operations up >30% YoY, a cash balance of $1.75B and ≈$150M returned via share repurchases.Logitech Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
79
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.91B | 4.85B | 4.55B | 4.30B | 4.54B | 5.48B |
| Gross Profit | 2.21B | 2.09B | 1.96B | 1.79B | 1.72B | 2.26B |
| EBITDA | 972.94M | 864.12M | 744.23M | 681.97M | 603.85M | 902.84M |
| Net Income | 798.07M | 712.52M | 631.53M | 612.14M | 364.57M | 644.51M |
Balance Sheet | ||||||
| Total Assets | 4.04B | 3.86B | 3.54B | 3.60B | 3.56B | 4.04B |
| Cash, Cash Equivalents and Short-Term Investments | 1.75B | 1.75B | 1.50B | 1.52B | 1.15B | 1.33B |
| Total Debt | 84.39M | 88.42M | 92.40M | 77.03M | 71.02M | 41.90M |
| Total Liabilities | 1.69B | 1.64B | 1.41B | 1.37B | 1.30B | 1.64B |
| Stockholders Equity | 2.36B | 2.22B | 2.13B | 2.23B | 2.26B | 2.40B |
Cash Flow | ||||||
| Free Cash Flow | 1.02B | 977.47M | 786.43M | 1.09B | 441.66M | 209.17M |
| Operating Cash Flow | 1.08B | 1.04B | 842.56M | 1.15B | 534.01M | 298.32M |
| Investing Cash Flow | -60.90M | -62.50M | -57.27M | -70.33M | -105.73M | -107.86M |
| Financing Cash Flow | -749.84M | -752.52M | -797.36M | -690.17M | -583.35M | -606.82M |
Logitech Technical Analysis
Negative
85.96
Price Trends
83.21
Negative
82.11
Negative
81.15
Negative
Market Momentum
-0.47
Positive
40.94
Neutral
4.39
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:LOGN, the sentiment is Negative. The current price of 85.96 is above the 20-day moving average (MA) of 84.36, above the 50-day MA of 83.21, and above the 200-day MA of 81.15, indicating a bearish trend. The MACD of -0.47 indicates Positive momentum. The RSI at 40.94 is Neutral, neither overbought nor oversold. The STOCH value of 4.39 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:LOGN.
Logitech Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | CHF11.33B | 17.40 | 35.50% | 1.47% | -2.36% | 18.71% | |
71 Outperform | CHF1.20B | 40.71 | 6.65% | ― | 1.13% | 62.86% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | CHF59.50M | -9.26 | -15.69% | ― | 50.85% | 62.40% | |
50 Neutral | CHF301.61M | -141.33 | ― | 0.16% | -9.48% | -125.28% | |
49 Neutral | CHF1.76B | -5.69 | -21.50% | ― | -2.71% | -177.79% | |
43 Neutral | CHF70.52M | -1.94 | -13.85% | ― | -10.06% | -475.79% |
* Technology Sector Average
CH:LOGN
Logitech
76.42
-2.95
-3.72%
CH:AMS
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78.11%
CH:WIHN
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10.56
2.75
35.21%
CH:KUD
Kudelski SA
1.27
-0.13
-9.29%
CH:SENS
Sensirion Holding AG
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16.41%
CH:ELMN
Elma Electronic AG
1,320.00
131.85
11.10%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.