Logitech International (LOGN) Q4 2026 earnings summary

Executive summary

• FY26 net sales grew 6% in USD (4% in constant currency) to $4.84 billion, with strong market share gains and accelerated growth in Gaming and Americas.

• Delivered record non-GAAP gross margin of 43.6% and operating margin of 18.8%; non-GAAP operating income rose 18% to $911 million.

• GAAP EPS increased 16% to $4.80; non-GAAP EPS up 19% to $5.78 year-over-year.

• Q4 FY26 sales were $1.09 billion, up 7% in USD and 3% in constant currency, with a 25% increase in non-GAAP operating income.

• Returned $768 million to shareholders via share repurchases and dividends, and generated over $1 billion in operating cash flow.

Financial highlights

• FY26 net sales reached $4.84 billion, up 6% year-over-year (4% in constant currency).

• Q4 GAAP operating income was $136 million, up 28% year-over-year; non-GAAP operating income was $167 million, up 25%.

• Q4 non-GAAP gross margin was 44.8%, up 130 bps year-over-year; operating margin expanded to 15.3%.

• Cash flow from operations for FY26 was $1.04 billion; year-end cash balance was $1.7 billion.

• Annual non-GAAP gross margin reached 43.6% and operating margin 18.8%, both highest outside pandemic peaks.

Outlook and guidance

• Q1 FY27 net sales expected between $1.19 and $1.215 billion, representing 4–6% year-over-year growth in USD and 2–4% in constant currency.

• Non-GAAP operating income for Q1 projected between $195 million and $215 million.

• Targeting mid to high single-digit organic top-line growth and maintaining operating margins at the high end of long-term targets.

• Q1 FY27 guidance includes a 150 bps negative impact from Middle East conflict.