8-K Announcements
6Material company update
Apr 29, 2026·SEC
Material company update
Feb 18, 2026·SEC
Material company update
Oct 29, 2025·SEC
Garmin Ltd.(GRMN)Earnings, Financials & Key Ratios
GRMN•NYSE
27.3× P/E·Price updated Jun 19, 2026
AboutGarmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms; and Connect IQ, an application development platform. The company's Outdoor segment offers adventure watches, outdoor handhelds, golf devices and mobile apps, and dog tracking and training devices. Its Aviation segment designs, manufactures, and markets various aircraft avionics solutions comprising integrated flight decks, electronic flight displays and instrumentation, navigation and communication products, automatic flight control systems and safety-enhancing technologies, audio control systems, engine indication systems, traffic awareness and avoidance solutions, ADS-B and transponder solutions, weather information and avoidance solutions, datalink and connectivity solutions, portable GPS navigators and wearables, and various services products. The company's Marine segment provides chartplotters and multi-function displays, cartography products, fish finders, sonar products, autopilot systems, radars, compliant instrument displays and sensors, VHF communication radios, handhelds and wearable devices, sailing products, entertainment, digital switching products, and trolling motors. Its Auto segment offers embedded computing models and infotainment systems; personal navigation devices; and cameras. The company sells its products through independent retailers, online retailers, dealers, distributors, installation and repair shops, and original equipment manufacturers, as well as an online webshop, garmin.com. Garmin Ltd. was founded in 1989 and is based in Schaffhausen, Switzerland.Show more
- Revenue$7.25B+15.1%
- EBITDA$2.06B+16.4%
- Net Income$1.66B+17.9%
- EPS (Diluted)8.59+17.7%
- Gross Margin58.74%
- EBITDA Margin28.5%+1.2%
- Operating Margin25.89%+2.3%
- Net Margin22.96%+2.5%
- ROE19.78%+4.1%
GRMN Key Insights
Garmin Ltd. (GRMN) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Strong Piotroski F-Score: 7/9
- ✓FCF machine: 18.8% free cash flow margin
- ✓Strong 5Y sales CAGR of 11.6%
- ✓Good 3Y average ROE of 19.4%
- ✓Healthy 5Y average net margin of 22.4%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Get notified when GRMN posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
GRMN Price & Volume
Garmin Ltd. (GRMN) stock price & volume — 10-year historical chart
Loading chart...
GRMN Growth Metrics
Garmin Ltd. (GRMN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years9.89%
5 Years11.59%
3 Years14.24%
TTM15.71%
Profit CAGR
10 Years13.81%
5 Years10.89%
3 Years19.56%
TTM18.25%
EPS CAGR
10 Years13.65%
5 Years10.69%
3 Years19.45%
TTM18.03%
Return on Capital
10 Years18.45%
5 Years18.76%
3 Years19.35%
Last Year21.57%
GRMN Recent Earnings
Garmin Ltd. (GRMN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
Apr 29, 2026Metric
Actual
Est
EPS
$2.08+13.0%
$1.84
Rev
$1.8B+1.7%
$1.7B
Q1 2026
Feb 18, 2026Metric
Actual
Est
EPS
$2.79+16.3%
$2.40
Rev
$2.1B+5.3%
$2.0B
Q4 2025
Oct 29, 2025Metric
Actual
Est
EPS
$1.99+0.0%
$1.99
Rev
$1.8B-0.6%
$1.8B
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$2.17+14.2%
$1.90
Rev
$1.8B+6.7%
$1.7B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $2.08vs $1.84+13.0% | $1.8Bvs $1.7B+1.7% |
| Q1 2026 | Feb 18, 2026 | $2.79vs $2.40+16.3% | $2.1Bvs $2.0B+5.3% |
| Q4 2025 | Oct 29, 2025 | $1.99vs $1.99+0.0% | $1.8Bvs $1.8B-0.6% |
| Q3 2025 | Jul 30, 2025 | $2.17vs $1.90+14.2% | $1.8Bvs $1.7B+6.7% |
Based on last 12 quarters of dataView full earnings history →
GRMN Peer Comparison
Garmin Ltd. (GRMN) competitors in Sensors, Controls and Smart Metering — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FOSL | 253.55M | 4.29 | -2.96 | -12.28% | -6.18% | -61.58% | 3.25 | |
 SONO | 1.77B | 14.68 | -28.78 | -4.93% | -2.82% | -10.43% | 0.17 | |
 GPRO | 135.06M | 0.79 | -1.34 | -18.71% | -20.7% | -201.66% | 1.09 | |
 POWI | 4.85B | 87.11 | 223.36 | 5.85% | 3.72% | 2.44% | ||
 AAPL | 4.38T | 298.01 | 39.95 | 6.43% | 27.15% | 146.69% | 1.52 | |
 FITB | 35.29B | 52.74 | 14.90 | -1.4% | 19.61% | 11.96% | 0.67 | |
 QCOM | 238.32B | 226.11 | 45.13 | 13.66% | 22.31% | 40.19% | 0.77 | |
 SWKS | 10.9B | 72.45 | 23.52 | -2.18% | 8.93% | 6.3% | 0.21 |
Compare GRMN vs Peers
Garmin Ltd. (GRMN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GRMN Income Statement
Garmin Ltd. (GRMN) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 3.09B | 3.35B | 3.76B | 4.19B | 4.98B | 4.86B | 5.23B | 6.3B | 7.25B | 7.46B |
Revenue Growth % | 2.26% | 8.44% | 12.25% | 11.42% | 19.02% | -2.46% | 7.57% | 20.44% | 15.06% | 15.71% |
Cost of Goods Sold | 1.3B | 1.37B | 1.52B | 1.71B | 2.09B | 2.05B | 2.22B | 2.6B | 2.99B | 3.05B |
COGS % of Revenue | 42.24% | 40.86% | 40.55% | 40.73% | 41.99% | 42.25% | 42.52% | 41.3% | 41.26% | - |
Gross Profit | 1.78B▲ 0% | 1.98B▲ 11.0% | 2.23B▲ 12.8% | 2.48B▲ 11.1% | 2.89B▲ 16.5% | 2.81B▼ 2.9% | 3B▲ 7.1% | 3.7B▲ 23.0% | 4.26B▲ 15.1% | 4.41B▲ 0% |
Gross Margin % | 57.76% | 59.14% | 59.45% | 59.27% | 58.01% | 57.75% | 57.48% | 58.7% | 58.74% | 59.14% |
Gross Profit Growth % | 6.17% | 11.02% | 12.84% | 11.07% | 16.49% | -2.9% | 7.06% | 23.02% | 15.14% | - |
Operating Expenses | 1.11B | 1.2B | 1.29B | 1.43B | 1.67B | 1.78B | 1.91B | 2.1B | 2.38B | 2.44B |
OpEx % of Revenue | 36.1% | 35.89% | 34.29% | 34.09% | 33.55% | 36.6% | 36.59% | 33.39% | 32.85% | - |
Selling, General & Admin | 602.67M | 633.57M | 683.02M | 721.41M | 831.82M | 944M | 1.01B | 1.11B | 1.25B | 1.29B |
SG&A % of Revenue | 19.52% | 18.93% | 18.18% | 17.23% | 16.69% | 19.42% | 19.28% | 17.61% | 17.31% | - |
Research & Development | 511.63M | 567.8M | 605.37M | 705.68M | 840.02M | 834.93M | 904.7M | 993.6M | 1.13B | 1.15B |
R&D % of Revenue | 16.57% | 16.96% | 16.11% | 16.86% | 16.86% | 17.18% | 17.3% | 15.78% | 15.54% | - |
Other Operating Expenses | -912K | 5.37M | 5.62M | 0 | 4.87M | 7.58M | 0 | 0 | 0 | 0 |
Operating Income | 668.86M▲ 0% | 778.34M▲ 16.4% | 945.59M▲ 21.5% | 1.05B▲ 11.5% | 1.22B▲ 15.6% | 1.03B▼ 15.7% | 1.09B▲ 6.3% | 1.59B▲ 45.9% | 1.88B▲ 17.7% | 1.97B▲ 0% |
Operating Margin % | 21.67% | 23.25% | 25.17% | 25.18% | 24.46% | 21.15% | 20.89% | 25.31% | 25.89% | 26.46% |
Operating Income Growth % | 7.2% | 16.37% | 21.49% | 11.49% | 15.59% | -15.65% | 6.26% | 45.95% | 17.7% | - |
EBITDA | 755.11M | 874.54M | 1.05B | 1.18B | 1.37B | 1.19B | 1.27B | 1.77B | 2.06B | 2.17B |
EBITDA Margin % | 24.46% | 26.13% | 27.99% | 28.21% | 27.56% | 24.52% | 24.29% | 28.17% | 28.5% | 29.03% |
EBITDA Growth % | 6.32% | 15.82% | 20.26% | 12.28% | 16.3% | -13.23% | 6.55% | 39.69% | 16.41% | 19.72% |
D&A (Non-Cash Add-back) | 86.25M | 96.19M | 106.17M | 126.72M | 154.82M | 163.85M | 177.57M | 179.74M | 188.76M | 191.59M |
EBIT | 683.64M | 778.34M | 945.59M | 1.05B | 1.22B | 1.03B | 1.09B | 1.59B | 1.88B | 2.07B |
Net Interest Income | 36.92M | 47.15M | 52.82M | 37M | 28.57M | 40.83M | 77.3M | 113.52M | 128.87M | 134.34M |
Interest Income | 36.92M | 47.15M | 52.82M | 37M | 28.57M | 40.83M | 77.3M | 113.52M | 128.87M | 134.34M |
Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Income/Expense | 13.43M | 44.9M | 41.64M | 49.17M | -11.82M | 37.13M | 108.2M | 101.41M | 138.46M | 123.07M |
Pretax Income | 682.29M▲ 0% | 823.25M▲ 20.7% | 987.22M▲ 19.9% | 1.1B▲ 11.8% | 1.21B▲ 9.4% | 1.06B▼ 11.8% | 1.2B▲ 12.7% | 1.7B▲ 41.2% | 2.01B▲ 18.8% | 2.1B▲ 0% |
Pretax Margin % | 22.1% | 24.59% | 26.27% | 26.36% | 24.22% | 21.91% | 22.96% | 26.92% | 27.8% | 28.11% |
Income Tax | -12.66M | 129.17M | 34.74M | 111.09M | 124.6M | 91.39M | -89.28M | 283.96M | 350.65M | 361.79M |
Effective Tax Rate % | -1.86% | 15.69% | 3.52% | 10.07% | 10.32% | 8.58% | -7.44% | 16.75% | 17.41% | 17.24% |
Net Income | 694.96M▲ 0% | 694.08M▼ 0.1% | 952.49M▲ 37.2% | 992.32M▲ 4.2% | 1.08B▲ 9.1% | 973.59M▼ 10.0% | 1.29B▲ 32.5% | 1.41B▲ 9.4% | 1.66B▲ 17.9% | 1.74B▲ 0% |
Net Margin % | 22.51% | 20.73% | 25.35% | 23.7% | 21.72% | 20.03% | 24.67% | 22.41% | 22.96% | 23.26% |
Net Income Growth % | 36.05% | -0.13% | 37.23% | 4.18% | 9.06% | -10.04% | 32.46% | 9.44% | 17.89% | 18.25% |
Net Income (Continuing) | 709.01M | 694.08M | 952.49M | 992.32M | 1.08B | 973.59M | 1.29B | 1.41B | 1.66B | 1.74B |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | 3.68▲ 0% | 3.66▼ 0.5% | 4.99▲ 36.3% | 5.17▲ 3.6% | 5.61▲ 8.5% | 5.04▼ 10.2% | 6.71▲ 33.1% | 7.30▲ 8.8% | 8.59▲ 17.7% | 8.97▲ 0% |
EPS Growth % | 36.3% | -0.54% | 36.34% | 3.61% | 8.51% | -10.16% | 33.13% | 8.79% | 17.67% | 18.03% |
EPS (Basic) | 3.70 | 3.68 | 5.01 | 5.19 | 5.63 | 5.06 | 6.74 | 7.35 | 8.65 | - |
Diluted Shares Outstanding | 188.73M | 189.73M | 190.9M | 191.9M | 193.04M | 193.04M | 192.06M | 193.47M | 193.62M | 193.56M |
Basic Shares Outstanding | 187.83M | 188.63M | 189.93M | 191.09M | 192.18M | 192.54M | 191.4M | 192.14M | 192.47M | 192.67M |
Dividend Payout Ratio | 55.11% | 42.67% | 43.81% | 45.41% | 45.41% | 69.75% | 43.33% | 40.55% | 39.9% | - |
GRMN Balance Sheet
Garmin Ltd. (GRMN) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 2.36B | 2.67B | 3.06B | 3.67B | 4.26B | 3.96B | 4.46B | 5.34B | 6.25B | 6B |
Cash & Short-Term Investments | 1.05B | 1.38B | 1.4B | 1.85B | 1.85B | 1.45B | 1.97B | 2.5B | 2.74B | 2.7B |
Cash Only | 891.49M | 1.2B | 1.03B | 1.46B | 1.5B | 1.28B | 1.69B | 2.08B | 2.28B | 2.29B |
Short-Term Investments | 161.69M | 182.99M | 376.46M | 387.64M | 347.98M | 173.29M | 274.62M | 421.27M | 459.2M | 411.03M |
Accounts Receivable | 590.88M | 569.83M | 706.76M | 849.47M | 843.45M | 656.85M | 815.24M | 983.4M | 1.25B | 940.96M |
Days Sales Outstanding | 69.86 | 62.13 | 68.65 | 74.06 | 61.78 | 49.33 | 56.91 | 57 | 63.12 | 50.86 |
Inventory | 517.64M | 561.84M | 752.91M | 762.08M | 1.23B | 1.52B | 1.35B | 1.47B | 1.77B | 1.85B |
Days Inventory Outstanding | 144.91 | 149.94 | 180.38 | 163.12 | 214.15 | 269.29 | 220.97 | 206.9 | 216.4 | 218.37 |
Other Current Assets | 30.52M | 28.46M | 25.11M | 20.14M | 15.96M | 14.86M | 334.87M | 378.03M | 485.1M | 15.32M |
Total Non-Current Assets | 2.65B | 2.72B | 3.11B | 3.36B | 3.59B | 3.78B | 4.14B | 4.29B | 4.75B | 4.96B |
Property, Plant & Equipment | 595.68M | 663.53M | 792.51M | 950.16M | 1.16B | 1.29B | 1.37B | 1.4B | 1.57B | 1.59B |
Fixed Asset Turnover | 5.18x | 5.04x | 4.74x | 4.41x | 4.31x | 3.78x | 3.82x | 4.49x | 4.61x | 4.88x |
Goodwill | 286.98M | 301.02M | 467.11M | 584.21M | 575.08M | 567.99M | 608.47M | 603.95M | 760.24M | 750.63M |
Intangible Assets | 122.82M | 116.06M | 192.52M | 244.36M | 215.99M | 178.46M | 186.6M | 154.16M | 198.36M | 186.87M |
Long-Term Investments | 1.26B | 1.33B | 1.21B | 1.13B | 1.27B | 1.21B | 1.13B | 1.2B | 0 | 4.28B |
Other Non-Current Assets | 181.47M | 129.8M | 182.82M | 206.66M | 115.74M | 95.09M | 96.71M | 113.87M | 1.5B | 96.39M |
Total Assets | 5.01B▲ 0% | 5.38B▲ 7.4% | 6.17B▲ 14.6% | 7.03B▲ 14.0% | 7.85B▲ 11.7% | 7.73B▼ 1.6% | 8.6B▲ 11.3% | 9.63B▲ 11.9% | 10.99B▲ 14.2% | 10.95B▲ 0% |
Asset Turnover | 0.62x | 0.62x | 0.61x | 0.60x | 0.63x | 0.63x | 0.61x | 0.65x | 0.66x | 0.70x |
Asset Growth % | 10.72% | 7.44% | 14.56% | 14.02% | 11.71% | -1.57% | 11.28% | 11.94% | 14.15% | 54.85% |
Total Current Liabilities | 828.66M | 921.31M | 1.04B | 1.16B | 1.45B | 1.21B | 1.31B | 1.51B | 1.72B | 1.38B |
Accounts Payable | 169.64M | 204.99M | 240.83M | 258.88M | 370.05M | 212.42M | 253.79M | 359.37M | 347.49M | 344.72M |
Days Payables Outstanding | 47.49 | 54.7 | 57.7 | 55.41 | 64.55 | 37.76 | 41.66 | 50.44 | 42.43 | 43.91 |
Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27.9M | 0 | 0 |
Deferred Revenue (Current) | 139.68M | 96.37M | 94.56M | 86.86M | 87.65M | 91.09M | 101.19M | 111M | 105.65M | 419.92M |
Other Current Liabilities | 416.53M | 506.87M | 572.11M | 636.53M | 779.08M | 732.01M | 330.01M | 504.13M | 1.27B | 402.89M |
Current Ratio | 2.85x | 2.89x | 2.95x | 3.15x | 2.94x | 3.26x | 3.41x | 3.54x | 3.63x | 4.36x |
Quick Ratio | 2.23x | 2.28x | 2.22x | 2.50x | 2.10x | 2.01x | 2.38x | 2.56x | 2.60x | 3.02x |
Cash Conversion Cycle | 167.29 | 157.37 | 191.34 | 181.77 | 211.38 | 280.86 | 236.22 | 213.46 | 237.09 | 225.32 |
Total Non-Current Liabilities | 379.14M | 298.57M | 337.37M | 351.04M | 292.12M | 315.19M | 280.82M | 274.27M | 301.03M | 305.6M |
Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 164.84M | 0 |
Capital Lease Obligations | 0 | 0 | 49.24M | 75.96M | 70.04M | 114.54M | 113.03M | 134.89M | 0 | 316.22M |
Deferred Tax Liabilities | 75.22M | 92.94M | 114.75M | 116.84M | 117.59M | 129.97M | 114.68M | 103.27M | 109.7M | 419.68M |
Other Non-Current Liabilities | 379.14M | 129.06M | 106.05M | 108.3M | 62.86M | 34.99M | 16.96M | 7.79M | 26.5M | 3.71M |
Total Liabilities | 1.21B | 1.22B | 1.37B | 1.52B | 1.74B | 1.53B | 1.59B | 1.78B | 2.02B | 1.68B |
Total Debt | 0 | 0 | 49.24M | 75.96M | 70.04M | 114.54M | 113.03M | 162.79M | 164.84M | 167.62M |
Net Debt | -891.49M | -1.2B | -978.33M | -1.38B | -1.43B | -1.16B | -1.58B | -1.92B | -2.11B | -2.12B |
Debt / Equity | - | - | 0.01x | 0.01x | 0.01x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x |
Debt / EBITDA | - | - | 0.05x | 0.06x | 0.05x | 0.10x | 0.09x | 0.09x | 0.08x | 0.08x |
Net Debt / EBITDA | -1.18x | -1.37x | -0.93x | -1.17x | -1.04x | -0.98x | -1.24x | -1.08x | -1.02x | -0.98x |
Interest Coverage | - | - | - | - | - | - | - | - | - | - |
Total Equity | 3.8B▲ 0% | 4.16B▲ 9.5% | 4.79B▲ 15.1% | 5.52B▲ 15.1% | 6.11B▲ 10.8% | 6.2B▲ 1.5% | 7.01B▲ 13.0% | 7.85B▲ 11.9% | 8.97B▲ 14.3% | 9.27B▲ 0% |
Equity Growth % | 11.25% | 9.48% | 15.15% | 15.07% | 10.84% | 1.47% | 13.02% | 11.93% | 14.32% | 56.6% |
Book Value per Share | 20.15 | 21.94 | 25.11 | 28.75 | 31.67 | 32.14 | 36.51 | 40.57 | 46.34 | 47.90 |
Total Shareholders' Equity | 3.8B | 4.16B | 4.79B | 5.52B | 6.11B | 6.2B | 7.01B | 7.85B | 8.97B | 9.27B |
Common Stock | 17.98M | 17.98M | 17.98M | 17.98M | 17.98M | 17.98M | 19.59M | 19.49M | 19.49M | 19.49M |
Retained Earnings | 2.37B | 2.71B | 3.23B | 3.75B | 4.32B | 4.73B | 5.26B | 6B | 6.97B | 7.37B |
Treasury Stock | -468.82M | -397.69M | -345.04M | -320.02M | -303.11M | -475.1M | -330.91M | -270.52M | 0 | -415.6M |
Accumulated OCI | 56.05M | 8.43M | 55.87M | 183.43M | 117.83M | -114.53M | -65.61M | -147.24M | 20.64M | -42.96M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
GRMN Cash Flow Statement
Garmin Ltd. (GRMN) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 660.84M | 919.52M | 698.55M | 1.14B | 1.01B | 788.26M | 1.38B | 1.43B | 1.63B | 1.75B |
Operating CF Margin % | 21.41% | 27.47% | 18.59% | 27.12% | 20.32% | 16.22% | 26.32% | 22.75% | 22.54% | - |
Operating CF Growth % | -6.35% | 39.14% | -24.03% | 62.52% | -10.82% | -22.14% | 74.6% | 4.08% | 14.02% | 97.9% |
Net Income | 694.96M | 694.08M | 952.49M | 992.32M | 1.08B | 973.59M | 1.29B | 1.41B | 1.66B | 1.74B |
Depreciation & Amortization | 86.25M | 96.19M | 106.17M | 126.72M | 154.82M | 163.85M | 177.57M | 179.74M | 188.76M | 174.16M |
Stock-Based Compensation | 44.73M | 56.39M | 63.4M | 80.89M | 92.52M | 76.8M | 101.42M | 137.16M | 0 | 130.55M |
Deferred Taxes | -90.72M | 38.98M | -88.36M | 6.93M | -5.37M | -143.29M | -340.77M | -88.14M | 82.55M | 97.44M |
Other Non-Cash Items | 53.89M | 40.84M | 17.63M | -13.06M | 36.06M | -6.96M | -25.26M | 21.99M | 131.61M | -30.81M |
Working Capital Changes | -128.26M | -6.96M | -352.79M | -58.52M | -347.81M | -275.73M | 173.67M | -229.72M | -433.45M | -358.98M |
Change in Receivables | -40.09M | 5.17M | -123.4M | -108.86M | -19.11M | 167.34M | -129.12M | -196.26M | -222.81M | -134.11M |
Change in Inventory | -38.58M | -82.32M | -170.17M | 28.73M | -476.45M | -363.33M | 244.51M | -178.81M | -218.06M | -210.89M |
Change in Payables | -17.24M | 40.63M | 26.19M | 1.45M | 108.95M | -131.27M | 28.5M | 120.64M | -30.52M | -14.48M |
Cash from Investing | -194.54M | -307.5M | -450.75M | -260.52M | -475.37M | -145.12M | -332.97M | -393.33M | -645.24M | -765M |
Capital Expenditures | -151.93M | -160.35M | -120.41M | -187.47M | -309.59M | -246.19M | -193.52M | -193.57M | -270.45M | -297M |
CapEx % of Revenue | 4.92% | 4.79% | 3.2% | 4.48% | 6.21% | 5.07% | 3.7% | 3.07% | 3.73% | 3.98% |
Acquisitions | -90.47M | -29.17M | -300.29M | -148.65M | -20.18M | -13.46M | -150.85M | -16.44M | -175.66M | -173.68M |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 208K | 1.6M | 529K | 1.98M | 35K | 2.4M | -1.29M | 324.2M | 322K | 217.22M |
Cash from Financing | -448.41M | -286.16M | -416.03M | -461.76M | -486.71M | -840.62M | -636.51M | -626.86M | -844.08M | -899.33M |
Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Equity Issued (Net) | -74.52M | 9.99M | -25.89M | -26.33M | 4.75M | -161.52M | -98.99M | -62.35M | -180.2M | -206.37M |
Dividends Paid | -382.98M | -296.15M | -417.26M | -450.63M | -491.46M | -679.1M | -558.77M | -572.36M | -663.88M | -692.96M |
Share Repurchases | -87.3M | -16.66M | -25.89M | -26.33M | -30.98M | -223.74M | -98.99M | -62.35M | -238.21M | -264.38M |
Other Financing | 9.09M | 0 | 27.12M | 15.2M | 0 | 0 | 21.25M | 7.85M | 0 | 0 |
Net Change in Cash | 44.6M▲ 0% | 310.05M▲ 595.1% | -174.17M▼ 156.2% | 431.11M▲ 347.5% | 40.09M▼ 90.7% | -218.93M▼ 646.0% | 414.24M▲ 289.2% | 386M▼ 6.8% | 199.21M▼ 48.4% | 114.42M▲ 0% |
Free Cash Flow | 508.91M▲ 0% | 759.16M▲ 49.2% | 578.14M▼ 23.8% | 947.8M▲ 63.9% | 702.84M▼ 25.8% | 542.07M▼ 22.9% | 1.18B▲ 117.9% | 1.24B▲ 4.9% | 1.36B▲ 10.0% | 1.45B▲ 0% |
FCF Margin % | 16.49% | 22.68% | 15.39% | 22.64% | 14.11% | 11.15% | 22.59% | 19.67% | 18.81% | 19.45% |
FCF Growth % | -16.44% | 49.17% | -23.85% | 63.94% | -25.85% | -22.87% | 117.91% | 4.88% | 10.01% | 19.23% |
FCF per Share | 2.70 | 4.00 | 3.03 | 4.94 | 3.64 | 2.81 | 6.15 | 6.40 | 7.04 | 7.50 |
FCF Conversion (FCF/Net Income) | 0.95x | 1.32x | 0.73x | 1.14x | 0.94x | 0.81x | 1.07x | 1.01x | 0.98x | 0.84x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 106.15M | 67.59M | 160.29M | 133.06M | 131.04M | 184.81M | 302.15M | 333.8M | 0 | 0 |
GRMN Key Ratios
Garmin Ltd. (GRMN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 19.25% | 17.43% | 21.27% | 19.25% | 18.61% | 15.81% | 19.52% | 19% | 19.78% | 19.93% |
Return on Invested Capital (ROIC) | 18.3% | 19.88% | 20.93% | 19.89% | 20.73% | 15.85% | 15.65% | 21.04% | 22% | 22.13% |
Gross Margin | 57.76% | 59.14% | 59.45% | 59.27% | 58.01% | 57.75% | 57.48% | 58.7% | 58.74% | 59.14% |
Net Margin | 22.51% | 20.73% | 25.35% | 23.7% | 21.72% | 20.03% | 24.67% | 22.41% | 22.96% | 23.26% |
Debt / Equity | - | - | 0.01x | 0.01x | 0.01x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x |
FCF Conversion | 0.95x | 1.32x | 0.73x | 1.14x | 0.94x | 0.81x | 1.07x | 1.01x | 0.98x | 0.84x |
Revenue Growth | 2.26% | 8.44% | 12.25% | 11.42% | 19.02% | -2.46% | 7.57% | 20.44% | 15.06% | 15.71% |
Related:GRMN Dividend History·GRMN Revenue History·GRMN Price History·GRMN P/E History·GRMN Financial Ratios·GRMN Institutional Holders
GRMN SEC Filings & Documents
Garmin Ltd. (GRMN) SEC filings — annual & quarterly reports (10-K, 10-Q)
GRMN Frequently Asked Questions
Garmin Ltd. (GRMN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Garmin Ltd. (GRMN) reported $7.46B in revenue for fiscal year 2025. This represents a 3109% increase from $232.6M in 1999.
Garmin Ltd. (GRMN) grew revenue by 15.1% over the past year. This is strong growth.
Yes, Garmin Ltd. (GRMN) is profitable, generating $1.74B in net income for fiscal year 2025 (23.0% net margin).
Dividend & Returns
Yes, Garmin Ltd. (GRMN) pays a dividend with a yield of 1.46%. This makes it attractive for income-focused investors.
Garmin Ltd. (GRMN) has a return on equity (ROE) of 19.8%. This is reasonable for most industries.
Garmin Ltd. (GRMN) generated $1.45B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.