Last 48 quarters of trend data · Technology · Hardware, Equipment & Parts
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Garmin Ltd.'s quarterly P/E stands at 27.5x, down 11.3% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 15.0% YoY to 22.1x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 27.26 | 27.53 | 18.82 | 28.90 | 25.16 | 31.06 | 22.92 | 21.01 | 26.11 | 26.03 | 11.40 | 19.63 | 17.38 |
| — | -11.3% | -17.9% | +37.6% | -3.6% | +19.3% | +101.1% | +7.1% | +50.2% | +8.3% | -24.4% | +3.4% | -7.6% | |
| P/S Ratio | 6.23 | 6.35 | 4.69 | 6.57 | 5.55 | 6.74 | 5.48 | 5.30 | 5.21 | 5.19 | 4.17 | 3.95 | 3.78 |
| — | -5.8% | -14.5% | +24.0% | +6.5% | +29.9% | +31.3% | +34.1% | +37.9% | +23.0% | +23.0% | +12.7% | -3.1% | |
| P/B Ratio | 5.05 | 4.81 | 4.44 | 5.49 | 4.96 | 5.06 | 5.09 | 4.48 | 4.49 | 3.96 | 3.53 | 3.18 | 3.26 |
| — | -5.0% | -12.8% | +22.6% | +10.6% | +27.8% | +44.3% | +40.8% | +37.5% | +30.9% | +23.5% | +16.9% | -1.2% | |
| P/FCF | 33.14 | 23.73 | 23.17 | 27.37 | 79.02 | 27.18 | 25.03 | 38.30 | 36.01 | 17.83 | 14.84 | 16.20 | 22.64 |
| — | -12.7% | -7.4% | -28.5% | +119.4% | +52.4% | +68.7% | +136.4% | +59.1% | -14.5% | +3.4% | -58.1% | -97.9% | |
| EV / EBITDA | 20.85 | 22.06 | 14.28 | 22.05 | 18.47 | 25.95 | 16.89 | 16.46 | 19.16 | 19.57 | 15.02 | 14.98 | 14.20 |
| — | -15.0% | -15.5% | +34.0% | -3.6% | +32.6% | +12.5% | +9.9% | +34.9% | +3.9% | +11.9% | +11.4% | +3.3% | |
| EV / EBIT | 22.95 | 22.45 | 15.35 | 21.88 | 20.31 | 29.56 | 18.42 | 18.12 | 21.63 | 22.51 | 17.01 | 17.45 | 16.41 |
| — | -24.1% | -16.7% | +20.8% | -6.1% | +31.3% | +8.2% | +3.8% | +31.8% | -2.1% | +9.8% | +11.4% | +4.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Garmin Ltd.'s operating margin was 24.6% in Q1 2026, down 4.3 pp QoQ and up 2.9 pp YoY. The trailing four-quarter average of 26.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 3.2% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.7% | 59.4% | 59.2% | 59.1% | 58.8% | 57.6% | 59.3% | 60.0% | 57.3% | 58.1% | 58.3% | 57.0% | 57.5% |
| — | +3.2% | -0.1% | -1.5% | +2.7% | -0.7% | +1.7% | +5.2% | -0.4% | +2.0% | +2.2% | -3.0% | -2.1% | |
| Operating Margin | 25.9% | 24.6% | 28.9% | 25.8% | 26.0% | 21.7% | 28.3% | 27.6% | 22.7% | 21.6% | 23.0% | 21.2% | 21.5% |
| — | +13.5% | +2.1% | -6.5% | +14.7% | +0.4% | +23.3% | +30.3% | +5.4% | +25.8% | +12.3% | +0.8% | -8.7% | |
| Net Margin | 23.0% | 23.1% | 24.9% | 22.7% | 22.1% | 21.7% | 23.9% | 25.2% | 20.0% | 20.0% | 36.6% | 20.1% | 21.8% |
| — | +6.6% | +4.1% | -9.9% | +10.7% | +8.5% | -34.6% | +25.0% | -8.5% | +13.3% | +62.9% | +8.9% | +4.9% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.8% | 4.4% | 6.1% | 4.8% | 4.9% | 4.2% | 5.7% | 5.5% | 4.2% | 3.9% | 8.1% | 4.1% | 4.6% |
| — | +6.9% | +6.8% | -12.0% | +16.5% | +7.3% | -30.1% | +33.4% | -8.2% | +20.6% | +67.2% | +14.9% | +8.0% | |
| ROA | 16.1% | 3.7% | 4.9% | 3.9% | 4.0% | 3.4% | 4.6% | 4.4% | 3.4% | 3.2% | 6.5% | 3.2% | 3.7% |
| — | +7.7% | +7.0% | -12.0% | +16.1% | +7.0% | -29.8% | +34.8% | -7.0% | +22.3% | +71.4% | +19.0% | +11.1% | |
| ROIC | 22.0% | 4.6% | 6.9% | 5.4% | 5.7% | 4.1% | 6.7% | 6.1% | 4.8% | 4.1% | 4.9% | 4.1% | 4.3% |
| — | +11.6% | +2.1% | -11.8% | +18.6% | +0.6% | +37.9% | +47.8% | +13.1% | +42.2% | +20.9% | +12.2% | -4.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Garmin Ltd.'s Debt/EBITDA ratio is 0.3x, up from 0.2x last quarter — comfortably within a safe range. The current ratio has improved 6.5% YoY to 4.36x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 |
| — | +5.4% | +6.9% | +25.6% | +25.4% | +17.4% | +6.6% | -16.3% | -19.3% | -16.0% | -12.7% | +2.6% | -0.8% | |
| Debt / EBITDA | 0.08 | 0.35 | 0.25 | 0.31 | 0.29 | 0.37 | 0.24 | 0.23 | 0.26 | 0.31 | 0.29 | 0.35 | 0.34 |
| — | -5.8% | +4.1% | +35.0% | +8.1% | +19.9% | -18.2% | -35.3% | -21.5% | -33.4% | -21.0% | -1.9% | +5.4% | |
| Current Ratio | 3.63 | 4.36 | 3.63 | 3.32 | 3.01 | 4.10 | 3.54 | 3.30 | 2.88 | 4.03 | 3.41 | 3.13 | 2.84 |
| — | +6.5% | +2.6% | +0.5% | +4.6% | +1.7% | +3.9% | +5.4% | +1.5% | +2.4% | +4.3% | +14.3% | +11.7% | |
| Quick Ratio | 2.60 | 3.02 | 2.60 | 2.24 | 2.09 | 2.91 | 2.56 | 2.35 | 2.07 | 2.86 | 2.38 | 2.05 | 1.87 |
| — | +3.8% | +1.6% | -4.6% | +1.0% | +1.6% | +7.7% | +14.7% | +10.6% | +16.1% | +18.1% | +22.0% | +13.7% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying GRMN stock.
Garmin Ltd.'s current P/E is 27.3x. The average P/E over the last 4 quarters is 25.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Garmin Ltd.'s current operating margin is 25.9%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Garmin Ltd.'s business trajectory between earnings reports.