LOGINasdaqComputer Peripheral Equipment, NECUS GAAP · USD

Logitech International S.A. - Registered Shares

Logitech International S.A. designs software-enabled hardware that connects people to computers, games, and collaboration platforms. Founded in Switzerland and listed in both Zurich and New York, it sells under the Logitech and Logitech G brands across consumer, gaming, and business use cases.

Revenue4,841m USD
+6.3 %y/y
Operating profit (EBIT)775m USD
+18.4 %y/y
EBIT margin16.0%
+1.6 ppy/y
Net income711m USD
+12.6 %y/y
Free cash flow976m USD
+24.1 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

02,0004,0006,000m USD2021: 5,252 m USD2021: EBIT 1,148 m USD20212022: 5,481 m USD2022: EBIT 774 m USD20222023: 4,539 m USD2023: EBIT 458 m USD20232024: 4,298 m USD2024: EBIT 587 m USD20242025: 4,555 m USD2025: EBIT 655 m USD20252026: 4,841 m USD2026: EBIT 775 m USD20264,841775
RevenueOperating profit (EBIT)

Business

Share of revenue
Gaming28 %

Gaming mice, keyboards, headsets, steering wheels, microphones, and Streamlabs services.

Keyboards & Combos19 %

Standalone keyboards and keyboard-mouse bundles for work and home use.

Pointing Devices17 %

Mice, trackballs, and related cursor-control peripherals.

Video Collaboration15 %

Meeting-room and personal collaboration hardware plus support services.

Webcams8 %

Consumer and business webcams for video calls and content creation.

Tablet Accessories8 %

Keyboard cases and accessories for tablets and mobile productivity.

Headsets and Other5 %

Headsets, speakers, and other peripheral products not in core categories.

Products

Reported · share of revenue
29.2%19.4%17.7%14.2%12.4%FY2026100 %
  • Retail Gaming29.2 %
  • Retail Keyboards Desktops19.4 %
  • Retail Pointing Devices17.7 %
  • Retail Video Collaboration14.2 %
  • Retail Tablet and Other Accessories6.9 %
  • Other12.4 %

Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Logitech sells to a mix of retailers, e-tailers, distributors, enterprise customers, and end consumers, with a growing B2B channel alongside its traditional retail base. Demand is driven by work-from-home and hybrid collaboration, gaming, and everyday productivity, which makes the company relevant to both consumer and business buyers.

Retail consumers

Buy keyboards, mice, webcams, headsets, and tablet accessories for home and personal use.

Gaming users

Buy Logitech G mice, keyboards, headsets, steering wheels, and streaming tools for performance and immersion.

Enterprise and B2B customers

Buy video collaboration, webcams, headsets, and workplace peripherals for hybrid work and meetings.

Distributors and channel partners

Buy in bulk and resell to retailers, VARs, systems integrators, and other downstream channels.

E-commerce and marketplace buyers

Purchase through Logitech.com, Amazon, and other online channels for convenience and assortment.

Strategy

Logitech is focused on extending its software-enabled hardware portfolio across gaming, collaboration, and productivity while improving product innovation and channel reach. Management also emphasizes AI, software, and ecosystem integration, alongside selective partnerships or acquisitions that complement its strategic direction.

Grow B2B and video collaborationMedium term

Enterprise demand diversifies Logitech beyond consumer retail and supports higher-value solutions.

Integrate AI and software featuresMedium term

Software and AI can improve product differentiation and keep the hardware ecosystem relevant.

Broaden channel reach and cross-sellShort term

A wider channel mix improves access to consumers and businesses and supports portfolio monetization.

Maintain innovation in core peripheralsShort term

Frequent product refreshes are needed to defend share in a competitive, promotion-heavy market.

Geography

Logitech sells globally across the Americas, EMEA, and Asia Pacific, with regional demand shifting by category and channel. In fiscal 2025, sales grew in all three regions, while the company also noted that much of its manufacturing and contract manufacturing is concentrated in China and Southeast Asia, creating tariff and supply-chain exposure.

Risks

Logitech faces intense competition, channel dependence, and supply-chain exposure because it sells through third parties and manufactures heavily in Asia. Its results are also sensitive to tariffs, currency moves, product innovation cycles, and execution risk as it expands AI-enabled features and B2B offerings.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Manufacturing and tariff exposure1Channel concentration2Innovation and product-cycle risk3Competitive pricing pressure4Foreign exchange volatility5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Manufacturing and tariff exposureImpact: HighLikelihood: High

    Principal manufacturing and contract manufacturing are concentrated in China and Southeast Asia.

    ExposureChinaSoutheast Asia
  2. Channel concentrationImpact: HighLikelihood: Medium

    A few large customers account for a meaningful share of gross sales, and Logitech relies on third-party distribution.

    ExposureAmazonIngram MicroTD Synnex
  3. Innovation and product-cycle riskImpact: HighLikelihood: Medium

    Demand depends on timely launches and successful refreshes across fast-evolving categories.

    ExposureGamingWebcamsCollaboration hardware
  4. Competitive pricing pressureImpact: MediumLikelihood: High

    Retail and gaming markets are promotional and competitors can undercut pricing or offer better terms.

    Exposure: Consumer peripherals and gaming

  5. Foreign exchange volatilityImpact: MediumLikelihood: Medium

    A large share of sales and costs are denominated in non-USD currencies.

    ExposureEuroRMBJPYAUDCADGBPTWD

Accounting

Judgemental items
Customer incentives and breakage

Promotions, rebates, and related breakage estimates affect revenue recognition and margin.

Impact: Net sales and gross margin

Sales return reserves

Channel sell-through and product transitions require estimates for expected returns.

Impact: Revenue and liabilities

Inventory valuation

Rapid product cycles can create obsolescence or reserve adjustments.

Impact: Cost of sales and inventory

Uncertain tax positions

Multi-jurisdiction operations create judgment around tax exposures and deferred taxes.

Impact: Tax provision and cash taxes

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026