Logitech International S.A.
LOGI Technology Computer Hardware
Logitech International S.A.’s revenue for fiscal 2026 (year ended March 2026) was $4.8 billion, up 6.28% from fiscal 2025. In the quarter to June 2026, revenue grew 6.93%, EPS grew 65.7% and free cash flow grew 37.8%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Logitech International S.A. (LOGI) Beneish M-score
Logitech International S.A.'s Beneish M-score for fiscal 2026 is −2.84; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.84 | 0.10 |
| FY2025 | −2.94 | 0.41 |
| FY2024 | −3.34 | (0.78) |
| FY2023 | −2.57 | (0.61) |
| FY2022 | −1.96 | 0.85 |
| FY2021 | −2.81 | (0.54) |
| FY2020 | −2.27 | (0.30) |
| FY2019 | −1.97 | 0.68 |
| FY2018 | −2.65 | (0.13) |
| FY2017 | −2.52 | 0.07 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.05 | — | 0.96 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.90 | — | 0.36 | |
| Sales growth index | 1.06 | — | 0.95 | |
| Depreciation index | 1.03 | — | 0.12 | |
| SG&A index | 0.95 | — | −0.16 | |
| Total accruals to total assets | (0.08) | — | −0.40 | |
| Leverage index | 1.10 | — | −0.36 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.84 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| QBTS D-Wave Quantum Inc. compare | −2.9× |
| P Everpure, Inc. compare | −2.9× |
| LOGI Logitech International S.A. | −2.8× |
| HPQ HP Inc. compare | −2.5× |
| RGTI Rigetti Computing, Inc. compare | −2.4× |
| WDC Western Digital Corporation compare | −0.2× |
| SMCI Super Micro Computer, Inc. compare | 0.0× |
| IONQ IonQ, Inc. compare | 1.7× |
| QUBT Quantum Computing Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI