LOGI FY 2023 Earnings Report — Logitech International S.A. Revenue & Financial Results | Market Cap Arena

Logitech International S.A.LOGI

FY 2023 Earnings

Reported May 17, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$4.5B	—	$5.5B	—	-17.2%
Op. Income	$458M	—	$774M	—	-40.8%
Gross Margin	38.2%	—	41.5%	—	-3.4pp
Net Margin	8.0%	—	11.8%	—	-3.7pp
EPS (Diluted)	$2.23	—	$3.78	—	-41.0%
Free Cash Flow	$442M	—	$209M	—	111.2%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$2.8B
GROSS PROFIT	$1.7B
R&D Expenses	$281M
Selling & Marketing	$809M
General & Administrative	$125M
SG&A Expenses	$934M
Other Expenses	$59M
Operating Expenses	$1.3B
Cost & Expenses	$4.1B
OPERATING INCOME	$458M
Interest Income	$18M
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$464M
Income Tax Expense	$99M
Net Income from Continuing Ops	$365M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$365M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$365M
D&A	$101M
EBIT	$502M
EBITDA	$603M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$2.8B
GROSS PROFIT	$1.7B
R&D Expenses	$281M
Selling & Marketing	$809M
General & Administrative	$125M
SG&A Expenses	$934M
Other Expenses	$59M
Operating Expenses	$1.3B
Cost & Expenses	$4.1B
OPERATING INCOME	$458M
Interest Income	$18M
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$464M
Income Tax Expense	$99M
Net Income from Continuing Ops	$365M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$365M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$365M
D&A	$101M
EBIT	$502M
EBITDA	$603M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$365M
Depreciation & Amortization	$101M
Stock-Based Compensation	$71M
Deferred Income Tax	$31M
Other Non-Cash Items	$11M
Change in Working Capital	-$44M
OPERATING CASH FLOW	$534M
Capital Expenditure	-$92M
Acquisitions (Net)	-$9M
Purchases of Investments	-$7M
Sales/Maturities of Investments	$6M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$106M
Net Debt Issuance	$0
Common Stock Repurchased	-$448M
Common Dividends Paid	-$166M
Other Financing Activities	-$18M
NET CASH FROM FINANCING	-$583M
FREE CASH FLOW	$442M
Net Change in Cash	-$180M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$0
Net Receivables	$691M
Inventory	$683M
Other Current Assets	$83M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$189M
Goodwill	$455M
Intangible Assets	$63M
Long-Term Investments	$33M
Tax Assets	$172M
Other Non-Current Assets	$44M
TOTAL NON-CURRENT ASSETS	$956M
TOTAL ASSETS	$3.6B
Account Payables	$407M
Short-Term Debt	$0
Deferred Revenue	$11M
Other Current Liabilities	$265M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$0
Deferred Revenue NC	$8M
Deferred Tax Liabilities	$3M
Other Non-Current Liabilities	$184M
TOTAL NON-CURRENT LIABILITIES	$253M
TOTAL LIABILITIES	$1.3B
Common Stock	$30M
Additional Paid-In Capital	$127M
Retained Earnings	$3.2B
Treasury Stock	-$977M
Accum. Other Comp. Income	-$100M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$71M
Net Debt	-$1.1B