Logitech International (LOGI) FY2018 results: revenue $2.6 billion, up 15.6% on the year
Logitech International S.A. (LOGI) reported revenue of $2.6 billion for fiscal 2018, the year ended 31 March 2018, up 15.6% on the year before. Net income was $209 million, up 1.3%, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 17 May 2019.
Revenue
$2.6 billion
+15.6% on the year
FY2011FY2018
Operating margin
8.9%
9.5% a year earlier
FY2011FY2018
Net income
$209 million
+1.3% on the year
FY2011FY2018
Diluted EPS
$1.23
-0.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,567
2,221
2,018
+15.6%
Cost of revenue
n/a
1,395
1,337
Gross profit
909
820
681
+10.9%
Gross margin
35.4%
36.9%
33.7%
Research and development
144
131
113
+10.1%
Operating income
230
212
129
+8.4%
Operating margin
8.9%
9.5%
6.4%
Interest expense
n/a
n/a
0.0
Pre-tax income
232
215
131
+8.0%
Income tax
23.7
9.1
3.1
+160.3%
Effective tax rate
10.2%
4.2%
2.4%
Net income
209
206
119
+1.3%
Net margin
8.1%
9.3%
5.9%
Diluted EPS
$1.23
$1.24
$0.72
-0.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
346
288
185
+20.1%
Capital expenditure
39.7
31.8
56.6
+25.0%
Free cash flow
307
257
129
+19.5%
Free cash flow margin
11.9%
11.6%
6.4%
Cash from investing
-129
-99.7
-60.7
Cash from financing
-128
-156
-144
Depreciation and amortisation
56.9
50.5
53.0
+12.7%
Share-based compensation
44.1
35.9
27.4
+23.0%
Buybacks
30.7
83.8
70.4
-63.3%
Dividends paid
104
93.1
85.9
+12.0%
Dividend per share
$0.63
$0.57
$0.53
+10.5%
Diluted shares, weighted
169m
166m
166m
+2.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,051
856
760
+22.7%
Debt
0.0
0.0
0.0
Other liabilities
693
643
564
+7.8%
Total liabilities and equity
1,743
1,499
1,324
+16.3%
Fixed assets
86.3
85.4
92.9
+1.0%
Goodwill
275
250
218
+10.3%
Intangible assets
87.5
47.6
0.0
+84.1%
Investments
n/a
0.0
n/a
Trading assets
17.7
15.0
14.8
+18.0%
Cash and equivalents
642
548
519
+17.2%
Receivables
215
185
143
+16.0%
Inventory
260
253
229
+2.6%
Other assets
159
115
107
+38.8%
Total assets
1,743
1,499
1,324
+16.3%
10-K for the year ended 31 March 2018, filed 17 May 2019: the filing.