Logitech International (LOGI) FY2021 results: revenue $5.3 billion, up 76.5% on the year
Logitech International S.A. (LOGI) reported revenue of $5.3 billion for fiscal 2021, the year ended 31 March 2021, up 76.5% on the year before. Net income was $947 million, up 110.6%, and diluted earnings per share $5.51. The figures are the company's own, from the 10-K it filed with the SEC on 12 May 2021.
Revenue
$5.3 billion
+76.5% on the year
FY2014FY2021
Operating margin
21.9%
9.3% a year earlier
FY2014FY2021
Net income
$947 million
+110.6% on the year
FY2014FY2021
Diluted EPS
$5.51
+107.1% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
5,252
2,976
2,788
+76.5%
Gross profit
2,336
1,122
1,037
+108.1%
Gross margin
44.5%
37.7%
37.2%
Research and development
226
178
161
+27.3%
Operating income
1,148
276
263
+315.2%
Operating margin
21.9%
9.3%
9.4%
Pre-tax income
1,148
324
271
+254.0%
Income tax
201
-125
13.6
Effective tax rate
17.5%
-38.7%
5.0%
Net income
947
450
258
+110.6%
Net margin
18.0%
15.1%
9.2%
Diluted EPS
$5.51
$2.66
$1.52
+107.1%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,459
425
305
+243.2%
Capital expenditure
76.2
39.5
35.9
+93.0%
Free cash flow
1,382
386
269
+258.6%
Free cash flow margin
26.3%
13.0%
9.7%
Cash from investing
-120
-130
-173
Cash from financing
-300
-177
-159
Depreciation and amortisation
82.6
73.8
67.7
+12.0%
Share-based compensation
86.0
54.9
50.3
+56.8%
Buybacks
165
50.4
32.4
+227.0%
Dividends paid
147
124
114
+18.1%
Dividend per share
$0.87
$0.74
$0.69
+17.6%
Diluted shares, weighted
172m
169m
169m
+1.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,262
1,489
1,176
+51.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
21.3
19.5
0.0
+9.1%
Other liabilities
1,859
855
848
+117.5%
Total liabilities and equity
4,142
2,363
2,024
+75.3%
Fixed assets
114
76.1
78.6
+49.8%
Goodwill
430
401
344
+7.2%
Intangible assets
115
127
119
-9.3%
Trading assets
24.8
20.1
20.4
+23.5%
Cash and equivalents
1,750
716
605
+144.6%
Receivables
612
395
383
+55.1%
Inventory
661
229
293
+188.4%
Other assets
435
400
181
+8.8%
Total assets
4,142
2,363
2,024
+75.3%
10-K for the year ended 31 March 2021, filed 12 May 2021: the filing.