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Logitech International S.A. cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$149M in Q2 FY27 · $953M over twelve months

Operating cash flow$164M
Capital spending−$14.7M
Free cash flow+$149M
Cash / net income0.9×

Analysis

In Q2 FY27, Logitech International S.A. generated $164M of operating cash flow and spent $14.7M on capital projects, leaving free cash flow of $149M. That is $63.4M less than in Q2 FY26 ($212M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.0B; the largest uses were buybacks ($591M), dividends ($235M), capital spending ($60.2M); besides operations, cash came from other financing ($48.7M); the cash balance rose by $132M.

Operating cash flow was $164M against net income of $180M — 0.9× profit, roughly in line with earnings. The largest differences: receivables −$86.1M, inventory −$64.5M, payables +$54.1M.

Free cash flow

Logitech International S.A.: free cash flow by quarterLogitech International S.A.: free cash flow by quarter$357MQ3 FY25$117MQ4 FY25$109MQ1 FY26$212MQ2 FY26$466MQ3 FY26$189MQ4 FY26$150MQ1 FY27$149MQ2 FY27
Operating cash flow less capital spending.
Logitech International S.A.: operating cash flow against capital spendingLogitech International S.A.: operating cash flow against capital spendingOperating cash flowCapital spending$371M$14.2MQ3 FY25$130M$12.8MQ4 FY25$125M$16.3MQ1 FY26$229M$16.6MQ2 FY26$481M$14.9MQ3 FY26$203M$13.8MQ4 FY26$167M$16.8MQ1 FY27$164M$14.7MQ2 FY27
Latest (Q2 FY27): Operating cash flow $164M, Capital spending $14.7M.

Capital allocation, year by year

Logitech International S.A.: where the cash came from (up) and went (down), by fiscal yearLogitech International S.A.: where the cash came from (up) and went (down), by fiscal yearOperating cash flowCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $298MFY22: Capital spending −$89.2MFY22: Acquisitions −$16.2MFY22: Buybacks −$412MFY22: Dividends −$159M$298MFY22FY23: Operating cash flow $534MFY23: Capital spending −$92.4MFY23: Acquisitions −$8.5MFY23: Buybacks −$418MFY23: Dividends −$159M$534MFY23FY24: Operating cash flow $1.1BFY24: Capital spending −$55.9MFY24: Acquisitions −$14.4MFY24: Buybacks −$504MFY24: Dividends −$182M$1.1BFY24FY25: Operating cash flow $843MFY25: Capital spending −$56.1MFY25: Buybacks −$589MFY25: Dividends −$208M$843MFY25FY26: Operating cash flow $1.0BFY26: Capital spending −$61.6MFY26: Buybacks −$535MFY26: Dividends −$233M$1.0BFY26
Over these 5 years operating cash flow totalled $3.9B; the largest uses were buybacks ($2.5B) and dividends ($941M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.5B
Debtnone
Net cash$1.5B

Logitech International S.A. funds itself: free cash flow was $953M over the last twelve months, with $1.5B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Logitech International S.A.: sources (+) and uses (−) of cash, Q2 FY27Logitech International S.A.: sources (+) and uses (−) of cash, Q2 FY27Cash drawn (+) / kept (−)$242MDividends−$235MBuybacks−$171MOperating cash flow$164MOther financing$23.4MCapital spending−$14.7MOther investing−$4.6MTaxes on employees’ shares−$2.0MExchange rates−$1.5M
Logitech International S.A.: sources (+) and uses (−) of cash, TTM to Q2 FY27Logitech International S.A.: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$1.0BBuybacks−$591MDividends−$235MCash drawn (+) / kept (−)−$132MCapital spending−$60.2MOther financing$48.7MTaxes on employees’ shares−$40.9MOther investing−$4.3MExchange rates$1.6M

From profit to cash

Logitech International S.A.: net income to operating cash flow, Q2 FY27Logitech International S.A.: net income to operating cash flow, Q2 FY27Net income$180MDepreciation & amortization$17.1MStock-based pay$28.5MDeferred taxes$469KGains on investments−$1.6MReceivables−$86.1MInventory−$64.5MPayables$54.1MAccrued liabilities−$3.4MPrepaid and other assets$38.9MOperating cash flow$164M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q2 FY27$164M−$14.7M−$171M−$235M$242M$149M
Q1 FY27$167M−$16.8M−$114M—−$8.1M$150M
Q4 FY26$203M−$13.8M−$280M—$76.3M$189M
Q3 FY26$481M−$14.9M−$27.1M—−$442M$466M
Q2 FY26$229M−$16.6M−$107M−$233M$112M$212M
Q1 FY26$125M−$16.3M−$122M—$15.4M$109M
Q4 FY25$130M−$12.8M−$126M—−$373K$117M
Q3 FY25$371M−$14.2M−$200M—−$140M$357M

Logitech International S.A.: income statement and cash flow

Logitech International S.A., Q2 FY27: revenue $1.2B (+3% year over year), operating margin 16.5%. The chart follows the revenue to costs, profit and cash.

Logitech International S.A.: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.