Logitech International S.A. (LOGI) stock analysis

P/E below its 5-year median

Logitech International's P/E of 18.1 is below its own 5-year median of 20.8.

P/E below the industry

Logitech International's P/E of 18.1 is below the Computer and Office Equipment median of 26.0.

EV/EBITDA below its 5-year median

Logitech International's EV/EBITDA of 14.4 is below its 5-year median of 17.5.

P/B above the industry

Logitech International's price-to-book of 6.57 is above the Computer and Office Equipment median of 3.71.

Trading below fair value

The share price of $100.20 is below our fair value estimate of $117.44.

Margin of safety under 20%

The price is 14.7% below fair value, less than the 20% cushion we look for.

Revenue growing under 10% a year

Revenue grew 2.2% a year over the last three fiscal years, short of the 10% we look for.

EPS growing 10%+ a year

Diluted EPS grew 29.1% a year over the last three fiscal years.

Earnings growth accelerating

Net income grew 22.6% over the last twelve months, against a 5-year average of -5.6% a year.

Growing slower than the industry

Revenue grew 5.7% over the last twelve months; the Computer and Office Equipment median is 11.2%.

Guidance issued

The latest outlook (Q3 FY27 Sales, Oct 27, 2026) was issued for the first time, so it neither adds nor takes away points.

Gross margin improving

Gross margin was 45.5% over the last twelve months, against 42.8% a year earlier.

Return on equity over 15%

Return on equity was 38.2% over the last twelve months and averaged 26.5% over five years.

Return on capital over 10%

Return on invested capital was 111%, above the 10% that usually covers the cost of capital.

Return on equity above the industry

Logitech International's return on equity of 38.2% is above the Computer and Office Equipment median of 7.5%.

Earnings shrank over 5 years

Net income shrank 5.6% a year on average over the last five fiscal years.

Net margin above its 5-year average

Net margin was 16.4% over the last twelve months, against a 5-year average of 12.5%.

Net margin above the industry

Logitech International's net margin of 16.4% is above the Computer and Office Equipment median of 3.8%.

No debt

Logitech International has no borrowings on its latest balance sheet.

Debt not rising

With no debt today, leverage cannot have risen.

Debt covered by cash flow

There is no debt to cover.

Interest well covered

No meaningful interest expense to cover.

Short-term assets cover short-term debts

Current assets are 2.13 times current liabilities.

Low bankruptcy risk

The Altman Z-score is 8.61; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

Logitech International paid dividends worth 1.7% of the share price over the last twelve months.

Yield below Treasuries

The 1.7% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; Logitech International yields 1.7%.

Dividend was cut

The dividend per share fell by more than 10% at least once in the last 10 fiscal years.

Earnings cover

Needs dividends paid and net income.

Cash-flow cover

Needs dividends paid and free cash flow.