Logitech International (LOGI) FY2019 results: revenue $2.8 billion, up 8.6% on the year
Logitech International S.A. (LOGI) reported revenue of $2.8 billion for fiscal 2019, the year ended 31 March 2019, up 8.6% on the year before. Net income was $258 million, up 23.5%, and diluted earnings per share $1.52. The figures are the company's own, from the 10-K it filed with the SEC on 17 May 2019.
Revenue
$2.8 billion
+8.6% on the year
FY2012FY2019
Operating margin
9.4%
8.9% a year earlier
FY2012FY2019
Net income
$258 million
+23.5% on the year
FY2012FY2019
Diluted EPS
$1.52
+23.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,788
2,567
2,221
+8.6%
Cost of revenue
n/a
n/a
1,395
Gross profit
1,037
909
820
+14.1%
Gross margin
37.2%
35.4%
36.9%
Research and development
161
144
131
+12.2%
Operating income
263
230
212
+14.6%
Operating margin
9.4%
8.9%
9.5%
Pre-tax income
271
232
215
+16.7%
Income tax
13.6
23.7
9.1
-42.8%
Effective tax rate
5.0%
10.2%
4.2%
Net income
258
209
206
+23.5%
Net margin
9.2%
8.1%
9.3%
Diluted EPS
$1.52
$1.23
$1.24
+23.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
305
346
288
-11.9%
Capital expenditure
35.9
39.7
31.8
-9.6%
Free cash flow
269
307
257
-12.2%
Free cash flow margin
9.7%
11.9%
11.6%
Cash from investing
-173
-129
-99.7
Cash from financing
-159
-128
-156
Depreciation and amortisation
67.7
56.9
50.5
+18.9%
Share-based compensation
50.3
44.1
35.9
+13.9%
Buybacks
32.4
30.7
83.8
+5.6%
Dividends paid
114
104
93.1
+9.3%
Dividend per share
$0.69
$0.63
$0.57
+9.5%
Diluted shares, weighted
169m
169m
166m
-0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,176
1,051
856
+12.0%
Debt
0.0
0.0
0.0
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
848
693
643
+22.4%
Total liabilities and equity
2,024
1,743
1,499
+16.1%
Fixed assets
78.6
86.3
85.4
-9.0%
Goodwill
344
275
250
+24.8%
Intangible assets
119
87.5
47.6
+35.9%
Investments
n/a
n/a
0.0
Trading assets
20.4
17.7
15.0
+14.7%
Cash and equivalents
605
642
548
-5.8%
Receivables
383
215
185
+78.4%
Inventory
293
260
253
+12.9%
Other assets
181
159
115
+13.7%
Total assets
2,024
1,743
1,499
+16.1%
10-K for the year ended 31 March 2019, filed 17 May 2019: the filing.