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Side-by-side financial comparison of LOGITECH INTERNATIONAL S.A. (LOGI) and Norwegian Cruise Line Holdings (NCLH). Click either name above to swap in a different company.
Norwegian Cruise Line Holdings is the larger business by last-quarter revenue ($2.2B vs $1.4B, roughly 1.6× LOGITECH INTERNATIONAL S.A.). LOGITECH INTERNATIONAL S.A. runs the higher net margin — 17.7% vs 0.6%, a 17.0% gap on every dollar of revenue. On growth, Norwegian Cruise Line Holdings posted the faster year-over-year revenue change (6.4% vs 6.1%). LOGITECH INTERNATIONAL S.A. produced more free cash flow last quarter ($465.6M vs $21.5M). Over the past eight quarters, LOGITECH INTERNATIONAL S.A.'s revenue compounded faster (18.5% CAGR vs 1.2%).
Logitech International S.A. is a Swiss multinational manufacturer of computer peripherals and software. Headquartered in Lausanne, Switzerland, the company has offices throughout Europe, Asia, Oceania, and the Americas. It is a component of the Swiss Market Index, and is listed on the Nasdaq.
Norwegian Cruise Line (NCL) is an American cruise line founded in Norway in 1966, headquartered in Miami-Dade County, Florida, and incorporated in the Bahamas. It is the fourth-largest cruise line in the world by passengers, controlling about 8.6% of the total worldwide share of the cruise market by passengers as of 2021. It is wholly owned by parent company Norwegian Cruise Line Holdings.
LOGI vs NCLH — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $2.2B |
| Net Profit | $251.0M | $14.3M |
| Gross Margin | 43.2% | 41.0% |
| Operating Margin | 20.1% | 8.3% |
| Net Margin | 17.7% | 0.6% |
| Revenue YoY | 6.1% | 6.4% |
| Net Profit YoY | 25.4% | -94.4% |
| EPS (diluted) | $1.69 | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $2.2B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $1.0B | $2.1B | ||
| Q4 24 | $1.3B | $2.1B | ||
| Q3 24 | $1.1B | $2.8B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $1.0B | $2.2B |
| Q4 25 | $251.0M | $14.3M | ||
| Q3 25 | $170.7M | $419.3M | ||
| Q2 25 | $146.0M | $30.0M | ||
| Q1 25 | $144.1M | $-40.3M | ||
| Q4 24 | $200.1M | $254.5M | ||
| Q3 24 | $145.5M | $474.9M | ||
| Q2 24 | $141.8M | $163.4M | ||
| Q1 24 | $167.6M | $17.4M |
| Q4 25 | 43.2% | 41.0% | ||
| Q3 25 | 43.4% | 47.1% | ||
| Q2 25 | 41.7% | 42.1% | ||
| Q1 25 | 43.1% | 38.7% | ||
| Q4 24 | 42.9% | 38.0% | ||
| Q3 24 | 43.6% | 45.2% | ||
| Q2 24 | 42.8% | 38.7% | ||
| Q1 24 | 43.2% | 36.7% |
| Q4 25 | 20.1% | 8.3% | ||
| Q3 25 | 16.1% | 25.5% | ||
| Q2 25 | 14.1% | 16.8% | ||
| Q1 25 | 10.5% | 9.4% | ||
| Q4 24 | 17.5% | 10.2% | ||
| Q3 24 | 14.4% | 24.6% | ||
| Q2 24 | 14.1% | 14.4% | ||
| Q1 24 | 12.9% | 10.0% |
| Q4 25 | 17.7% | 0.6% | ||
| Q3 25 | 14.4% | 14.3% | ||
| Q2 25 | 12.7% | 1.2% | ||
| Q1 25 | 14.3% | -1.9% | ||
| Q4 24 | 14.9% | 12.1% | ||
| Q3 24 | 13.0% | 16.9% | ||
| Q2 24 | 13.0% | 6.9% | ||
| Q1 24 | 16.6% | 0.8% |
| Q4 25 | $1.69 | $0.08 | ||
| Q3 25 | $1.15 | $0.86 | ||
| Q2 25 | $0.98 | $0.07 | ||
| Q1 25 | $0.94 | $-0.09 | ||
| Q4 24 | $1.32 | $0.55 | ||
| Q3 24 | $0.95 | $0.95 | ||
| Q2 24 | $0.92 | $0.35 | ||
| Q1 24 | $1.07 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.8B | $209.9M |
| Total DebtLower is stronger | — | $13.7B |
| Stockholders' EquityBook value | $2.3B | $2.2B |
| Total Assets | $4.1B | $22.5B |
| Debt / EquityLower = less leverage | — | 6.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $209.9M | ||
| Q3 25 | $1.4B | $166.8M | ||
| Q2 25 | $1.5B | $184.0M | ||
| Q1 25 | $1.5B | $184.4M | ||
| Q4 24 | $1.5B | $190.8M | ||
| Q3 24 | $1.4B | $332.5M | ||
| Q2 24 | $1.5B | $594.1M | ||
| Q1 24 | $1.5B | $559.8M |
| Q4 25 | — | $13.7B | ||
| Q3 25 | — | $13.6B | ||
| Q2 25 | — | $12.6B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $11.8B | ||
| Q3 24 | — | $11.8B | ||
| Q2 24 | — | $11.9B | ||
| Q1 24 | — | $12.0B |
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $2.1B | $2.2B | ||
| Q2 25 | $2.2B | $1.6B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.1B | $1.4B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.2B | $693.1M | ||
| Q1 24 | $2.2B | $362.1M |
| Q4 25 | $4.1B | $22.5B | ||
| Q3 25 | $3.7B | $22.2B | ||
| Q2 25 | $3.7B | $21.6B | ||
| Q1 25 | $3.5B | $21.4B | ||
| Q4 24 | $3.7B | $20.0B | ||
| Q3 24 | $3.6B | $19.8B | ||
| Q2 24 | $3.7B | $20.1B | ||
| Q1 24 | $3.6B | $19.8B |
| Q4 25 | — | 6.21× | ||
| Q3 25 | — | 6.22× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | 9.09× | ||
| Q4 24 | — | 8.26× | ||
| Q3 24 | — | 10.35× | ||
| Q2 24 | — | 17.19× | ||
| Q1 24 | — | 33.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $480.5M | $459.1M |
| Free Cash FlowOCF − Capex | $465.6M | $21.5M |
| FCF MarginFCF / Revenue | 32.8% | 1.0% |
| Capex IntensityCapex / Revenue | 1.0% | 19.5% |
| Cash ConversionOCF / Net Profit | 1.91× | 32.21× |
| TTM Free Cash FlowTrailing 4 quarters | $903.6M | $-1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $480.5M | $459.1M | ||
| Q3 25 | $228.8M | $236.6M | ||
| Q2 25 | $125.0M | $714.9M | ||
| Q1 25 | $129.7M | $679.2M | ||
| Q4 24 | $370.9M | $399.3M | ||
| Q3 24 | $166.0M | $172.5M | ||
| Q2 24 | $176.0M | $670.9M | ||
| Q1 24 | $239.1M | $807.2M |
| Q4 25 | $465.6M | $21.5M | ||
| Q3 25 | $212.3M | $-726.5M | ||
| Q2 25 | $108.8M | $381.2M | ||
| Q1 25 | $116.9M | $-846.0M | ||
| Q4 24 | $356.6M | $155.8M | ||
| Q3 24 | $151.5M | $-195.5M | ||
| Q2 24 | $161.4M | $330.2M | ||
| Q1 24 | $228.8M | $548.3M |
| Q4 25 | 32.8% | 1.0% | ||
| Q3 25 | 17.9% | -24.7% | ||
| Q2 25 | 9.5% | 15.1% | ||
| Q1 25 | 11.6% | -39.8% | ||
| Q4 24 | 26.6% | 7.4% | ||
| Q3 24 | 13.6% | -7.0% | ||
| Q2 24 | 14.8% | 13.9% | ||
| Q1 24 | 22.6% | 25.0% |
| Q4 25 | 1.0% | 19.5% | ||
| Q3 25 | 1.4% | 32.8% | ||
| Q2 25 | 1.4% | 13.3% | ||
| Q1 25 | 1.3% | 71.7% | ||
| Q4 24 | 1.1% | 11.5% | ||
| Q3 24 | 1.3% | 13.1% | ||
| Q2 24 | 1.3% | 14.4% | ||
| Q1 24 | 1.0% | 11.8% |
| Q4 25 | 1.91× | 32.21× | ||
| Q3 25 | 1.34× | 0.56× | ||
| Q2 25 | 0.86× | 23.83× | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | 1.85× | 1.57× | ||
| Q3 24 | 1.14× | 0.36× | ||
| Q2 24 | 1.24× | 4.10× | ||
| Q1 24 | 1.43× | 46.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
