The Logitech NOligarchy Profile
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Logitech earns a NOligarchy Score of 51.18 out of 100 — and in a sector where the average sits at 61.4, that places them below the industry baseline. The score reflects a company that has quietly stepped into Washington’s influence circuit, runs a substantial stock buyback engine while its median worker earns less than $49,000 a year, and holds a tax rate that falls well short of what Congress set as the floor. The one genuine bright spot: its regulatory record is spotless.
Current Pillar Scores
Political Access
47.7
Wealth Extraction
27.5
Playing by the Rules
100.0
Score history — 23 quarters
Tier bands show where each quarter's score falls — no numeric y-axis needed. The dashed ring marks the year-over-year comparison point. Tap any quarter but the first to see its pillar breakdown.
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Political Access Grade: 47.74/100. Logitech is no longer sitting on the sidelines. From Q3 2024 through Q2 2026 — the full eight-quarter tracking period — the company funneled $640,000 into federal lobbying, dispatching hired hands to the Senate, the House, and the National Economic Council on issues ranging from technology regulation to international tax policy.
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Wealth Extraction Grade: 27.71/100. The pressure concentrates here. Logitech poured more than $1.09 billion into stock buybacks across two fiscal years while the gap between what the chief executive pockets and what the median employee earns stretches to 222-to-one.
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Playing by the Rules Grade: 100/100. A perfect score. No fines, no recorded regulatory violations, no public subsidies extracted from taxpayers.
Logitech ranks 9th out of 12 companies in the Computer & Electronic Product Manufacturing sector. Its score of 51.18 trails the sector average of 61.4, meaning that on accountability measures, the majority of its peers are performing better. For higher-scoring places to shop, see the Better Alternatives section below.
The Bottom Line: A Billion in Buybacks, a Lobbying Machine Coming Online, and Workers Left Behind
Logitech reported $4.84 billion in annual revenue, according to its SEC EDGAR 10-K (CIK 0001032975). In the same stretch, the company chose to spend over $1.09 billion repurchasing its own stock — a deliberate reduction in shares outstanding that inflates per-share metrics and triggers executive performance bonuses. Meanwhile, the median Logitech employee earned $48,110 last year — a salary it would take more than 222 years to accumulate to match what the chief executive collected in a single fiscal year. And after years of near-silence in Washington, the company has now engaged professional lobbyists and former government insiders to work the halls of Congress. The clean regulatory record is real; everything else tells a sharper story.
Stepping Into Washington’s Influence Circuit
After staying nearly invisible in federal politics, Logitech has stepped in. The company spent $640,000 on federal lobbying across Q3 2024 through Q2 2026, filing disclosures with the Senate Lobbying Disclosure Act (LDA) system every quarter throughout the full tracking span — $160,000 in 2024, $320,000 in 2025, and $160,000 in 2026.
All of that activity runs through a single retained firm: Invariant LLC, which also lobbies for IKEA North America Services LLC, Mercari Inc, and The Home Depot Inc.
Shared Lobbying Exposure
Logitech
client
INVARIANT LLC
lobbying firm
IKEA North America Services LLC
also a client
Mercari Inc
also a client
The Home Depot Inc
also a client
Why it matters: the same firm argues Logitech’s case and its rivals’ — one hire buys a web of shared access that can’t be seen from outside. This network worsens Logitech’s political-access score (see methodology for the exact factor).
Invariant’s lobbyists knocked on the doors of the Senate 23 times and the House of Representatives 22 times, as well as reaching the National Economic Council (NEC) once — a White House body that sits at the center of economic policymaking.
FEDERAL CONTACT LOG
SENATE
23
≈ every 22nd business day
HOUSE OF REPRESENTATIVES
22
≈ every 23rd business day
Natl Economic Council (NEC)
1
≈ every 500th business day
3 federal bodies named in federal lobbying filings · 2024-Q3–2026-Q2
Between 2024-Q3 and 2026-Q2, Logitech was named in lobbying filings reaching 3 federal bodies — from SENATE to HOUSE OF REPRESENTATIVES.
The issue areas Logitech chose to pay for tell you something about what is at stake for the business. Science and technology issues drew eight filings — unsurprising for a company selling keyboards, mice, webcams, and headsets into a market shaped by Federal Trade Commission (FTC) oversight, product-safety rules, and digital infrastructure policy. Environmental policy drew an equal eight filings, with lobbyists paid to “monitor issues related to Logitech’s environmental policies” — a direct business interest for a company that manufactures hardware at scale and faces growing regulatory scrutiny on product lifecycle and e-waste. International tax policy generated five filings, with lobbyists explicitly engaged to “educate Members and staff about the tax deductions pertaining to multinational corporations” — a phrase that maps precisely onto Logitech’s Swiss-incorporated structure and the cantonal tax arrangements it maintains in the Canton of Vaud. Global trade policy drew two filings, tracking tariff developments that affect a company whose products are predominantly manufactured in China.
Four of the nine lobbyists Logitech deployed came through the revolving door directly from government positions. Jason Goldman previously held roles at the National Telecommunications and Information Administration (NTIA) as Acting Director of Congressional Affairs, Deputy Director of Congressional Affairs and Telecom Policy Adviser, and Congressional Liaison and Telecom Policy Adviser across consecutive terms. Kristopher Denzel was Chief of Staff to Representative Brad Knott and previously Legislative Director for Representative George Holding. Theodore Tanzer was Senior Counsel on the House Energy and Commerce Committee, Counsel to Commissioner Feldman at the U.S. Consumer Product Safety Commission (CPSC), and Professional Staff Member on the Senate Commerce Committee. Halie Craig was Policy Director on the Senate Commerce Committee, Senior Adviser to Senator Pat Toomey and the Senate Banking Committee, and Policy Adviser to the Senate Banking Committee across consecutive terms.
Logitech operates no corporate Political Action Committee (PAC), confirmed by Federal Election Commission (FEC) records. Company executives made $8,032 in personal contributions during the tracking period — $7,250 in Q3 2024 and $782 in Q4 2024 — modest sums that represent individual decisions rather than coordinated corporate strategy.
A Billion-Dollar Buyback Program and a 222-to-One Pay Gap
The restraint Logitech shows with regulators does not carry over to how it distributes the money its workforce helps generate.
The CEO Pay Gap: The CEO’s total compensation in the most recent reported fiscal year was about $10.7 million, according to the SEC DEF 14A. The median Logitech employee earned $48,110 in the same period. The resolved pay ratio is 222:1 — meaning that for every dollar the median worker took home, the chief executive collected $222. A frontline Logitech employee would need to work without spending a single paycheck for more than two centuries to match what the CEO earned in one year.
The Shareholder Payout: Logitech spent $588.8 million buying back its own stock in fiscal year 2025 and $504.2 million in fiscal year 2024, per the SEC 10-K. That is $1.093 billion across two fiscal years — money deliberately channeled to reduce shares outstanding, which inflates per-share metrics and triggers executive performance bonuses.
The Missed Raise: Logitech’s total workforce headcount is not publicly disclosed in its filings, which means a precise per-worker raise calculation cannot be computed. What can be stated plainly: $1.093 billion, spent over two fiscal years repurchasing shares, is money that was available. It was not directed toward worker earnings. It went to shareholders — specifically the wealthiest 10% of Americans who own 93% of the stock market.
The Dividend Factor: Logitech paid no dividends during the two-year period, according to SEC 10-K records. That means the company abandoned traditional investor payouts entirely, concentrating all shareholder returns into buybacks — a more targeted mechanism that disproportionately rewards insiders and large institutional holders who can time their exits.
Executive Bonuses: That same buyback program directly serves the CEO whose earnings gap sits at 222:1. When Logitech reduces its shares outstanding, earnings per share (EPS) rises arithmetically — even if the underlying business hasn’t grown. That EPS bump feeds directly into the performance metrics that trigger bonuses for the same executives who approved the spending.
Tax Avoidance: Logitech paid an effective tax rate of 14.0% — 7 percentage points below the 21% federal statutory rate that Congress set, and 3.45 percentage points below the 17.45% median paid by companies in the same Computer & Electronic Product Manufacturing sector.
The company’s 10-K rate reconciliation starts from Switzerland’s base statutory rate of 8.5% — already well below the U.S. rate — and discloses several mechanisms that push the final bill further down. The single largest reducing item is the Participation Exemption under Swiss law, which cut the effective rate by 4.1 percentage points. Additional reductions came from Hong Kong tax-exempt dividend distributions (−0.9 percentage points), U.S. tax credits (−0.7 percentage points), and a U.S. Foreign Derived Intangible Income (FDII) deduction (−0.5 percentage points). Pushing the rate back upward were Vaud cantonal income taxes (+5.3 percentage points) and earnings in other foreign jurisdictions (+5.5 percentage points).
Logitech chose to pay 7 percentage points less than the rate Congress set and 3.45 points less than its sector peers. That gap is not an accounting accident — it is a structural decision that shifts real tax burden off Logitech’s balance sheet and onto everyone else. On top of that, Logitech holds Unrecognized Tax Benefits equal to 16% of its pre-tax income — contested deductions it has claimed on its taxes that the Internal Revenue Service (IRS) has not yet agreed are valid.
Statutory federal rate
21%
Sector median
17.4%
This company
14%
Logitech's effective federal tax rate was 14% against the 21% statutory rate, and below the 17.4% sector median — 7 percentage points drained away.
A Clean Record on the Public Docket
This section is short because the record is short. Logitech accumulated zero recorded regulatory fines and zero violations over the two-year tracking period from Q3 2024 through Q2 2026. No settlements, no consent decrees, no penalty payments appear on the public docket. The company also received no public subsidies — no government grants, no tax credits, no public money flowing in the other direction.
A 100/100 Playing by the Rules grade is rare. Logitech holds it. Whatever pressure it faces from investors, and whatever tax arrangements it maintains in Switzerland, it has not drawn regulatory fire during this period.