Logitech International (LOGI) FY2020 results: revenue $3.0 billion, up 6.7% on the year
Logitech International S.A. (LOGI) reported revenue of $3.0 billion for fiscal 2020, the year ended 31 March 2020, up 6.7% on the year before. Net income was $450 million, up 74.6%, and diluted earnings per share $2.66. The figures are the company's own, from the 10-K it filed with the SEC on 27 May 2020.
Revenue
$3.0 billion
+6.7% on the year
FY2013FY2020
Operating margin
9.3%
9.4% a year earlier
FY2013FY2020
Net income
$450 million
+74.6% on the year
FY2013FY2020
Diluted EPS
$2.66
+75.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,976
2,788
2,567
+6.7%
Gross profit
1,122
1,037
909
+8.2%
Gross margin
37.7%
37.2%
35.4%
Research and development
178
161
144
+10.1%
Operating income
276
263
230
+5.1%
Operating margin
9.3%
9.4%
8.9%
Pre-tax income
324
271
232
+19.6%
Income tax
-125
13.6
23.7
Effective tax rate
-38.7%
5.0%
10.2%
Net income
450
258
209
+74.6%
Net margin
15.1%
9.2%
8.1%
Diluted EPS
$2.66
$1.52
$1.23
+75.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
425
305
346
+39.3%
Capital expenditure
39.5
35.9
39.7
+9.9%
Free cash flow
386
269
307
+43.2%
Free cash flow margin
13.0%
9.7%
11.9%
Cash from investing
-130
-173
-129
Cash from financing
-177
-159
-128
Depreciation and amortisation
73.8
67.7
56.9
+9.0%
Share-based compensation
54.9
50.3
44.1
+9.2%
Buybacks
50.4
32.4
30.7
+55.4%
Dividends paid
124
114
104
+9.0%
Dividend per share
$0.74
$0.69
$0.63
+7.2%
Diluted shares, weighted
169m
169m
169m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,489
1,176
1,051
+26.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
19.5
0.0
n/a
Other liabilities
855
848
693
+0.8%
Total liabilities and equity
2,363
2,024
1,743
+16.8%
Fixed assets
76.1
78.6
86.3
-3.1%
Goodwill
401
344
275
+16.7%
Intangible assets
127
119
87.5
+6.7%
Trading assets
20.1
20.4
17.7
-1.4%
Cash and equivalents
716
605
642
+18.4%
Receivables
395
383
215
+3.0%
Inventory
229
293
260
-21.9%
Other assets
400
181
159
+120.7%
Total assets
2,363
2,024
1,743
+16.8%
10-K for the year ended 31 March 2020, filed 27 May 2020: the filing.