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Logitech International (LOGI) FY2025 results: revenue $4.6 billion, up 6.0% on the year

Logitech International S.A. (LOGI) reported revenue of $4.6 billion for fiscal 2025, the year ended 31 March 2025, up 6.0% on the year before. Net income was $632 million, up 3.2%, and diluted earnings per share $4.13. The figures are the company's own, from the 10-K it filed with the SEC on 23 May 2025.

Revenue
$4.6 billion
+6.0% on the year
FY2018FY2025
Operating margin
14.4%
13.7% a year earlier
FY2018FY2025
Net income
$632 million
+3.2% on the year
FY2018FY2025
Diluted EPS
$4.13
+6.7% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue4,5554,2984,539+6.0%
Gross profit1,9631,7781,720+10.4%
Gross margin43.1%41.4%37.9%
Research and development309287281+7.6%
Operating income655587458+11.5%
Operating margin14.4%13.7%10.1%
Pre-tax income707622464+13.7%
Income tax75.39.598.9+697.0%
Effective tax rate10.7%1.5%21.3%
Net income632612365+3.2%
Net margin13.9%14.2%8.0%
Diluted EPS$4.13$3.87$2.23+6.7%
$ 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

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow8431,145534-26.4%
Capital expenditure56.155.992.4+0.4%
Free cash flow7861,089442-27.8%
Free cash flow margin17.3%25.3%9.7%
Cash from investing-57.3-70.3-106
Cash from financing-797-690-583
Depreciation and amortisation79.884.7101-5.9%
Share-based compensation89.982.970.8+8.5%
Buybacks589504418+16.8%
Dividends paid208182159+14.0%
Dividend per share$1.37$1.19$1.00+15.1%
Diluted shares, weighted153m158m164m-3.4%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity2,1272,2342,258-4.8%
Debt0.00.00.0
Operating lease liabilities76.661.958.4+23.7%
Other liabilities1,3341,3091,245+1.9%
Total liabilities and equity3,5393,6053,561-1.8%
Fixed assets114117122-2.3%
Goodwill463462455+0.3%
Intangible assets24.644.663.2-44.8%
Cash and equivalents1,5031,5211,149-1.2%
Receivables455542630-16.1%
Inventory504423683+19.2%
Other assets475496459-4.3%
Total assets3,5393,6053,561-1.8%

10-K for the year ended 31 March 2025, filed 23 May 2025: the filing.