Logitech (CH:LOGN)
:LOGN
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Logitech
(LOGN)
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Rating:71Outperform
Price Target:
CHF83.00
▲(5.28% Upside)
Action:ReiteratedDate:01/29/26
The score is driven primarily by strong financial quality (high profitability, conservative balance sheet, and robust free cash flow) and a positive earnings-call outlook with supportive guidance. These strengths are meaningfully offset by weak technicals (price below key moving averages with negative momentum), while valuation is reasonable but not compelling enough to fully counter the bearish trend.
Positive Factors
Very strong balance sheet and high ROE
Extremely low leverage and high ROE give Logitech durable financial flexibility to fund R&D, product launches, and share returns without refinancing risk. This conservatism supports investment through cycles and shields operations from short-term cash shocks or tighter credit conditions.
Negative Factors
Uneven, cyclical revenue trajectory
Logitech's top-line has shown inconsistent growth with periodic declines, reflecting cyclical end-market demand for PCs, gaming and enterprise products. This makes revenue forecasting harder, creates lumpy investment returns, and raises execution risk if cycles turn down.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet and high ROE
Extremely low leverage and high ROE give Logitech durable financial flexibility to fund R&D, product launches, and share returns without refinancing risk. This conservatism supports investment through cycles and shields operations from short-term cash shocks or tighter credit conditions.
Read all positive factors
Logitech (LOGN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF10.57B
Dividend Yield1.53%
Average Volume (3M)670.22K
Price to Earnings (P/E)14.9
Beta (1Y)1.27
Revenue Growth-1.72%
EPS Growth5.36%
CountryCH
Employees7,300
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)1.52
Shares Outstanding160,784,450
10 Day Avg. Volume597,185
30 Day Avg. Volume670,219
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)6.24
Price to Sales (P/S)3.24
P/FCF Ratio12.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF85.75Price Target Upside8.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)5.58
Revenue Forecast (FY)CHF4.92B
Logitech Business Overview & Revenue Model
Company Description
Logitech International S.A., through its subsidiaries, designs, manufactures, and markets products that connect people to digital and cloud experiences worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless key...
How the Company Makes Money
Logitech primarily makes money by selling branded hardware products (and related accessories) into consumer and business markets. Its revenue model is predominantly product sales: Logitech designs products, sources components, contracts manufactur...
Logitech Earnings Call Summary
Earnings Call Date:Jan 27, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong, broad-based operational and financial performance: solid top-line growth, record-like profitability, excellent cash generation, successful new product and AI rollouts, and meaningful manufacturing diversification. Notable near-term risks include regional softness in gaming (U.S./EMEA), tariff and component cost pressures (memory impacts on some video products), and macro/consumer uncertainty. Management emphasized mitigation actions and provided a constructive outlook, so positives materially outweigh the identified headwinds.Positive Updates
Record Profitability and Margin Expansion
Non-GAAP operating income of $312M, up 17% year-over-year, driven by a 220 basis point expansion in operating profitability; non-GAAP gross margin of 43.5%, up 30 basis points year-over-year; record non-GAAP operating income and EPS (outside pandemic peaks).
Negative Updates
Gaming Weakness in Americas and EMEA
Gaming net sales grew only 2% overall; Americas and EMEA declined single digits due to market contraction and softer game release cadence in the West despite double-digit growth in Asia Pacific; U.S./Europe softness is a notable near-term headwind for a key growth category.
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Q3-2026 Updates
Positive
Negative
Record Profitability and Margin Expansion
Non-GAAP operating income of $312M, up 17% year-over-year, driven by a 220 basis point expansion in operating profitability; non-GAAP gross margin of 43.5%, up 30 basis points year-over-year; record non-GAAP operating income and EPS (outside pandemic peaks).
Read all positive updates
Company Guidance
Logitech guided Q4 fiscal 2026 net sales to grow 3%–5% year‑over‑year in constant currency, with a non‑GAAP gross margin of approximately 43%–44% (the midpoint implying a fiscal‑year‑end gross margin around 43.5%), non‑GAAP operating income of $155–$165 million for the quarter (the midpoint representing roughly a 20% YoY increase), and reiterated that it expects to close FY26 above its long‑term model targets for non‑GAAP gross margin and non‑GAAP operating margin.Logitech Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.78B | 4.55B | 4.30B | 5.48B | 5.25B | 2.98B |
| Gross Profit | 2.05B | 1.96B | 1.79B | 2.26B | 2.34B | 1.12B |
| EBITDA | 862.94M | 744.23M | 681.97M | 902.84M | 1.24B | 375.83M |
| Net Income | 699.28M | 631.53M | 612.14M | 644.51M | 947.26M | 449.72M |
Balance Sheet | ||||||
| Total Assets | 4.09B | 3.54B | 3.60B | 4.04B | 4.14B | 2.36B |
| Cash, Cash Equivalents and Short-Term Investments | 1.82B | 1.50B | 1.52B | 1.33B | 1.75B | 715.57M |
| Total Debt | 166.39M | 92.40M | 77.03M | 41.90M | 34.42M | 30.48M |
| Total Liabilities | 1.76B | 1.41B | 1.37B | 1.64B | 1.88B | 874.21M |
| Stockholders Equity | 2.33B | 2.13B | 2.23B | 2.40B | 2.26B | 1.49B |
Cash Flow | ||||||
| Free Cash Flow | 911.28M | 786.43M | 1.09B | 209.17M | 1.38B | 385.52M |
| Operating Cash Flow | 971.92M | 842.56M | 1.15B | 298.32M | 1.46B | 425.00M |
| Investing Cash Flow | -60.78M | -57.27M | -70.33M | -107.86M | -119.98M | -130.23M |
| Financing Cash Flow | -603.08M | -797.36M | -690.17M | -606.82M | -299.93M | -176.66M |
Logitech Technical Analysis
Positive
78.84
Price Trends
71.80
Positive
77.02
Positive
80.25
Negative
Market Momentum
1.27
Negative
68.06
Neutral
92.88
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:LOGN, the sentiment is Positive. The current price of 78.84 is above the 20-day moving average (MA) of 73.48, above the 50-day MA of 71.80, and below the 200-day MA of 80.25, indicating a neutral trend. The MACD of 1.27 indicates Negative momentum. The RSI at 68.06 is Neutral, neither overbought nor oversold. The STOCH value of 92.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | CHF5.02B | 36.50 | 55.08% | 1.64% | 34.09% | 111.52% | |
74 Outperform | CHF294.75M | 14.78 | ― | 0.16% | -0.64% | -5.79% | |
71 Outperform | CHF10.57B | 14.92 | 32.03% | 1.53% | -1.72% | 5.36% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | CHF1.49B | 1,526.55 | ― | 3.40% | 22.24% | ― | |
52 Neutral | CHF1.03B | -4.01 | -20.37% | ― | -27.51% | -36.15% | |
47 Neutral | CHF1.15B | -10.54 | -12.96% | ― | -4.67% | 83.73% |
* Technology Sector Average
CH:LOGN
Logitech
74.98
11.82
18.71%
CH:TEMN
Temenos
73.75
16.17
28.08%
CH:AMS
ams-OSRAM
11.87
4.87
69.57%
CH:UBXN
u-blox Holding AG
136.00
50.60
59.25%
CH:ELMN
Elma Electronic AG
1,290.00
191.71
17.45%
CH:SWON
SoftwareOne Holding Ltd.
6.91
1.46
26.86%
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.