My previous investment thought on Logitech ( LOGI ) was a buy rating because it was apparent that it is winning demand, and China’s growth is accelerating. Even without assuming multiples to goI focus on long-term investments while incorporating short-term shorts to uncover alpha opportunities. My investment approach revolves around bottom-up analysis, delving into the fundamental strengths and weaknesses of individual companies. My investment duration is the medium to long-term. Ultimately, I aim to identi ...

2月2日，商务部国际贸易谈判代表兼副部长李成钢会见罗技公司首席执行官法贝尔。双方就罗技公司在华业务发展等进行了交流。 李成钢表示，罗技公司在华经营多年，是中国经济发展的贡献者和受益者。"十五五"时期，中国将进一步扩大高水平对外开放，持续释放消费潜力，为包 括罗技公司在内的外资企业带来更多发展机遇。希望罗技公司长期深耕中国市场，实现共同发展。 法贝尔表示，罗技公司坚持"在中国，为中国"发展战略，始终视中国为全球重要市场。罗技公司将加大在华研发、制造、营销等领域投入，推动绿色发 展，实现互利共赢。 ...

同样出现在当天活动现场的波兰投资贸易局中国区首席代表尤德良（Andrzej Juchniewicz）说一口地道的普通话。他告诉第一财经，自己昨天刚从山东回到 上海，带了波兰的企业考察当地的投资项目。面对全球严峻复杂的形势，企业普遍投资谨慎，但对于新能源等新质生产力，波兰企业投资中国不乏动力。近 年来中国对波兰等国施行免签政策，吸引了越来越多从波兰进入中国的人，也带动了更多的经贸合作。"大家都知道春节对中国是很特殊的节日，很多工厂 和公司都会放假，所以大部分波兰人会提前几周抓紧来洽谈商务合作"。 也就在去年春节，尤德良专门把自己在波兰的父母带到了中国过年，感受中国春节的喜庆与传统文化的魅力。 在3日的活动上，来自23个国家和地区超70名驻沪领事馆、跨国公司、商协会负责人、高管及其家属汇聚一堂，提前接福的同时进一步了解上海乃至中国的 投资机遇与习俗文化。 上海年均新设外资企业超5700家，目前近8万家外资企业扎根各行业。 "中国对我们一直都很重要。"作为跨国企业高管中的中国女性代表，科思创全球高级副总裁、中国区总裁雷焕丽在2月3日举行的2026年在沪外籍人士代表新 春送福活动上这样对第一财经表示。就在10天前，科 ...

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Core Viewpoint - The article emphasizes the investment philosophy focused on identifying mispriced securities through understanding the financial drivers of companies, often revealed by a DCF model valuation [1]. Group 1: Investment Philosophy - The investment approach is not limited to traditional value, dividend, or growth investing, but considers all prospects of a stock to assess risk-to-reward [1]. Group 2: Market Focus - The investment focus includes small cap companies across the US, Canadian, and European markets [1].

Company Overview - Logitech International designs software-enabled hardware solutions aimed at enhancing business productivity and facilitating connections among individuals in work, creation, and gaming environments [2] - The company was founded in 1981 and is publicly listed on the SIX Swiss Exchange (LOGN) and the Nasdaq Global Select Market (LOGI) [2] Recent Developments - On January 28, 2026, Logitech filed its Quarterly Report on Form 10-Q for the third quarter of Fiscal Year 2026 with the U.S. Securities and Exchange Commission (SEC) [1] - The filing is accessible on both the SEC's website and Logitech's investor relations website [1]

Sales Performance - Sales for the three and nine months ended December 31, 2025 were $1,421.5 million and $3,755.2 million, respectively, representing a 6% increase compared to $1,340.3 million and $3,544.5 million for the same periods in 2024[118]. - Sales in the Asia Pacific region increased by 14% for the three months and 17% for the nine months ended December 31, 2025, while sales in the Americas decreased by 3% for the nine months[119]. - Total sales for the three months ended December 31, 2025, increased by 6% to $1,421,479,000 compared to $1,340,294,000 for the same period in 2024[140]. - Total sales for the nine months ended December 31, 2025, also increased by 6% to $3,755,238,000 compared to $3,544,545,000 for the same period in 2024[140]. - Sales in the Americas region decreased by 3% for the nine months ended December 31, 2025, primarily due to a decline in Gaming sales[136]. - Sales in the EMEA region increased by 9% for the nine months ended December 31, 2025, driven by sales growth in Keyboards & Combos, Video Collaboration, and Pointing Devices[138]. - Sales in the Asia Pacific region increased by 17% for the nine months ended December 31, 2025, primarily due to growth in Gaming and Tablet Accessories[139]. - Sales of Tablet Accessories increased by 21% for the three months ended December 31, 2025, benefiting from strong demand from the education sector[149]. Financial Metrics - Gross margin for the three months ended December 31, 2025 was 43.2%, an increase of 30 basis points from 42.9% in the same period of 2024[120]. - Gross profit for the three months ended December 31, 2025, was $614,639,000, a 7% increase from $574,441,000 in 2024[152]. - Operating expenses for the three months ended December 31, 2025 were $328.6 million, or 23.1% of sales, down from $339.9 million, or 25.4% of sales, in the same period of 2024[121]. - Operating expenses decreased to $328,625,000 for the three months ended December 31, 2025, from $339,885,000 in 2024, primarily due to a reduction in marketing and selling expenses[155]. - Net income for the three and nine months ended December 31, 2025 was $251.0 million and $567.7 million, respectively, compared to $200.1 million and $487.5 million for the same periods in 2024[123]. Cash Flow and Liquidity - As of December 31, 2025, cash and cash equivalents increased to $1,817.8 million from $1,503.2 million as of March 31, 2025, reflecting a strong liquidity position[173]. - Working capital as of December 31, 2025, was $1,709.1 million, up from $1,491.6 million as of March 31, 2025, driven by increases in cash and accounts receivable[174]. - Net cash provided by operating activities for the nine months ended December 31, 2025, was $834.4 million, an increase from $712.9 million in 2024[182]. - The net cash used in financing activities for the nine months ended December 31, 2025, was $483.7 million, primarily due to share repurchases and cash dividends[183]. - The company believes its historical cash flow generation and available cash balances will provide sufficient liquidity for at least the next 12 months[190]. Share Repurchase and Stock Management - The company repurchased 2.7 million shares for an aggregate cost of $239.1 million during the nine months ended December 31, 2025, under its share repurchase program[187]. - The company plans to target share repurchases of $2 billion over the three-year period ending March 31, 2028, subject to market conditions[187]. - The company’s share repurchase program is expected to remain in effect for three years through July 27, 2026, allowing for opportunistic repurchases[189]. - As of December 31, 2025, the company held a total of 14.0 million shares in treasury stock, including 1.1 million shares repurchased for cancellation and 12.9 million shares for equity incentive plans or potential acquisitions[188]. Risks and Challenges - The company expects continued challenges from macroeconomic conditions, including inflation and supply chain disruptions, which may impact future performance[116]. - The company is exposed to market risk due to adverse changes in currency exchange rates and interest rates, which could materially impact financial results[198]. - Approximately 54% of sales during the three months ended December 31, 2025 were denominated in currencies other than the U.S. Dollar, indicating exposure to foreign exchange fluctuations[135]. - An adverse 10% foreign currency exchange rate change would have resulted in an adverse effect on income before income taxes of approximately $21.1 million as of December 31, 2025[202]. - If the U.S. Dollar had weakened by 10%, the amount recorded in accumulated other comprehensive income related to foreign exchange contracts would have been negatively impacted by approximately $40.0 million as of December 31, 2025[204]. Future Outlook - The ongoing growth in gaming and new ways of working post-pandemic present significant opportunities for the company to expand its product offerings[114]. - The company is focusing on diversifying its manufacturing footprint and supplier ecosystem to mitigate risks associated with component availability and pricing[116]. - The company anticipates that its sales growth rates in constant currency would have been 4% for both the three and nine months ended December 31, 2025, if currency exchange rates had been constant[133]. Taxation - The provision for income taxes for the three months ended December 31, 2025, was $48,091,000, with an effective income tax rate of 16.1%, compared to $45,061,000 and 18.4% in 2024[169]. - The estimated top-up tax for fiscal year 2026 is not material and has been included in the calculation of the annual effective tax rate[171]. Inventory Management - The inventory turnover ratio for the three months ended December 31, 2025, increased to 7.2 from 6.3 in the same period of 2024, indicating improved inventory management[181]. - The company has non-cancelable purchase commitments of $434.7 million for inventory purchases, with a liability of $22.5 million recorded for excess and obsolete inventory as of December 31, 2025[192]. - The company has firm purchase commitments of $20.9 million for capital expenditures related to tooling and equipment for new and existing products as of December 31, 2025[193]. Other Income - Interest income for the three months ended December 31, 2025, was $10,985,000, a decrease of $1,191,000 compared to $12,176,000 in 2024[165]. - For the three months ended December 31, 2025, total other income was $2,131,000, compared to a loss of $1,524,000 for the same period in 2024, marking a significant improvement[166]. Lease Obligations - The remaining terms of the company's non-cancelable operating leases expire in various years through 2036, with no material changes reported[191].

Logitech International (NASDAQ: LOGI) stock tumbled 6.4% through 12:45 p.m. ET Wednesday despite beating on both sales and earnings this morning. Heading into the company's fiscal Q3 2026 report, analysts forecast Logitech to earn $1.81 per share on sales of $1.41 billion. In fact, Logitech earned $1.93 per share on sales of $1.42 billion. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » ...

Logitech tops earnings expectations, but shares fall as investors worry about rising component costs and global uncertainty. CEO Hanneke Faber joins "Bloomberg Open Interest" to talk about the impact of tariffs, AI, and where growth comes next. ...

Key Takeaways LOGI posted Q3 EPS of $1.93, up 21% Y/Y, while revenues grew 6% to $1.42B, topping estimates.Logitech saw solid growth in gaming, video collaboration, keyboards and pointing devices.Logitech guided Q4 revenues in the range of $1.07-$1.09B, implying 6-8% Y/Y reported growth.Logitech International S.A. (LOGI) reported third-quarter fiscal 2026 non-GAAP earnings of $1.93 per share, which beat the Zacks Consensus Estimate by 7.8%. The bottom line increased 21% on a year-over-year basis.In the thir ...