Logitech International (LOGI) FY2023 results: revenue $4.5 billion, down 17.2% on the year
Logitech International S.A. (LOGI) reported revenue of $4.5 billion for fiscal 2023, the year ended 31 March 2023, down 17.2% on the year before. Net income was $365 million, down 43.4%, and diluted earnings per share $2.23. The figures are the company's own, from the 10-K it filed with the SEC on 17 May 2023.
Revenue
$4.5 billion
-17.2% on the year
FY2016FY2023
Operating margin
10.1%
14.1% a year earlier
FY2016FY2023
Net income
$365 million
-43.4% on the year
FY2016FY2023
Diluted EPS
$2.23
-41.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
534
298
1,459
+79.0%
Capital expenditure
92.4
89.2
76.2
+3.6%
Free cash flow
442
209
1,382
+111.2%
Free cash flow margin
9.7%
3.8%
26.3%
Cash from investing
-106
-108
-120
Cash from financing
-583
-607
-300
Depreciation and amortisation
101
119
82.6
-15.0%
Share-based compensation
70.8
93.5
86.0
-24.3%
Buybacks
418
412
165
+1.5%
Dividends paid
159
159
147
-0.5%
Dividend per share
$1.00
$0.95
$0.87
+5.3%
Diluted shares, weighted
164m
170m
172m
-3.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,258
2,399
2,262
-5.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
58.4
28.2
21.3
+106.9%
Other liabilities
1,245
1,608
1,859
-22.6%
Total liabilities and equity
3,561
4,035
4,142
-11.8%
Fixed assets
122
110
114
+10.7%
Goodwill
455
448
430
+1.4%
Intangible assets
63.2
83.8
115
-24.6%
Trading assets
n/a
28.4
24.8
Cash and equivalents
1,149
1,329
1,750
-13.5%
Receivables
630
676
612
-6.7%
Inventory
683
933
661
-26.8%
Other assets
459
428
435
+7.3%
Total assets
3,561
4,035
4,142
-11.8%
10-K for the year ended 31 March 2023, filed 17 May 2023: the filing.