Technology · Hardware, Equipment & Parts
Price
$232.51
Market Cap
$44.8B
Employees
21,800
Beta
0.92
Avg Volume
810,111
CEO
Clifton Albert Pemble
Business Description
Garmin Ltd. specializes in the design, development, manufacturing, marketing, and global distribution of diverse wireless products and solutions. Its operations span across North and South America, the Asia Pacific region, the Australian Continent, Europe, the Middle East, and Africa. The company's offerings are organized into several key segments: Fitness: This division caters to athletes and active individuals with products like specialized running and multi-sport watches, cycling computers, activity trackers, smartwatches, and various fitness-related accessories. Additionally, it supports these offerings with its Garmin Connect web and mobile platforms, alongside Connect IQ, an ecosystem for app development. Outdoor: Garmin's Outdoor category features rugged adventure watches, portable GPS devices, golf-specific instruments and accompanying mobile applications, plus specialized dog tracking and training systems. Aviation: The Aviation sector delivers comprehensive avionics solutions for aircraft, encompassing integrated cockpit systems, advanced flight displays and instrumentation, navigation and communication tools, automated flight controls, safety enhancements, audio management, engine monitoring, traffic and weather avoidance systems, ADS-B transponders, data connectivity, portable GPS navigators, wearable aviation devices, and related support services. Marine: For the Marine market, Garmin provides a suite of solutions including chartplotters, multi-function displays, marine cartography, fish finders, sonar technology, autopilots, radar systems, compliant instrumentation and sensors, VHF radios, handheld and wearable marine devices, sailing-specific products, onboard entertainment, digital switching, and electric trolling motors. Auto: The Automotive segment focuses on in-vehicle computing and infotainment systems, personal navigation units, and various camera solutions. Garmin's products are distributed through a diverse network including independent and online retailers, authorized dealers, distributors, service and installation centers, original equipment manufacturers (OEMs), and directly via its official e-commerce platform, garmin.com. Established in 1989, Garmin Ltd. maintains its corporate headquarters in Schaffhausen, Switzerland.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
25.80
Stock Price: $232.51
EPS (Diluted): 8.65
EPS (Diluted): 8.65
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.41
Stock Price: $232.51
Total Equity: $8.97B
Shares: 193,616,000
Total Equity: $8.97B
Shares: 193,616,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
18.66
Market Cap: $44.84B
Total Debt: $0.00
Cash: $2.28B
EBITDA: $2.20B
Total Debt: $0.00
Cash: $2.28B
EBITDA: $2.20B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$37.4B
Market Cap: $44.84B
Total Debt: $0.00
Cash: $2.28B
Total Debt: $0.00
Cash: $2.28B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
58.7%
Gross Profit: $4.26B
Revenue: $7.25B
Revenue: $7.25B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
25.9%
Operating Income: $1.88B
Revenue: $7.25B
Revenue: $7.25B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
23.0%
Net Income: $1.66B
Revenue: $7.25B
Revenue: $7.25B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
19.9%
Net Income: $1.66B
Total Equity: $8.97B
Total Equity: $8.97B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
17.1%
Operating Income: $1.88B
Tax Rate: 17.4%
Equity: $8.97B
Total Debt: $0.00
Cash: $2.28B
Tax Rate: 17.4%
Equity: $8.97B
Total Debt: $0.00
Cash: $2.28B
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.63
Current Assets: $6.25B
Current Liabilities: $1.72B
Current Liabilities: $1.72B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $8.97B
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $8.97B
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$37.42
Revenue: $7.25B
Shares: 193,616,000
Shares: 193,616,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$46.34
Total Equity: $8.97B
Shares: 193,616,000
Shares: 193,616,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$7.04
Operating CF: $1.63B
CapEx: -$270.45M
Shares: 193,616,000
CapEx: -$270.45M
Shares: 193,616,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.7%
Last Dividend: N/A
Stock Price: $232.51
Stock Price: $232.51
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $1.66B
Net Income: $1.66B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares GRMN against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 3:03am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $5.0B | $4.9B | $5.2B | $6.3B | $7.2B |
| Cost of Revenue | $2.1B | $2.1B | $2.2B | $2.6B | $3.0B |
| Gross Profit | $2.9B | $2.8B | $3.0B | $3.7B | $4.3B |
| Operating Expenses | $1.7B | $1.8B | $1.9B | $2.1B | $2.4B |
| Operating Income | $1.2B | $1.0B | $1.1B | $1.6B | $1.9B |
| Net Income | $1.1B | $973.6M | $1.3B | $1.4B | $1.7B |
| EBITDA | $1.4B | $1.2B | $1.4B | $1.9B | $2.2B |
| EPS | $5.63 | $5.06 | $6.74 | $7.35 | $8.65 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:43pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1.5B | $1.3B | $1.7B | $2.1B | $2.3B |
| Total Current Assets | $4.3B | $4.0B | $4.5B | $5.3B | $6.2B |
| Total Assets | $7.9B | $7.7B | $8.6B | $9.6B | $11.0B |
| Current Liabilities | $1.4B | $1.2B | $1.3B | $1.5B | $1.7B |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.7B | $1.5B | $1.6B | $1.8B | $2.0B |
| Total Equity | $6.1B | $6.2B | $7.0B | $7.8B | $9.0B |
| Retained Earnings | $4.3B | $4.7B | $5.3B | $6.0B | $7.0B |
Cash Flow (Annual)
Last updated: Jun 22, 2026 3:04am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $1.0B | $788.3M | $1.4B | $1.4B | $1.6B |
| Capital Expenditure | -$309.6M | -$246.2M | -$195.0M | -$193.6M | -$270.4M |
| Free Cash Flow | $702.8M | $542.1M | $1.2B | $1.2B | $1.4B |
| Acquisitions (net) | -$20.2M | -$13.5M | -$150.9M | -$16.4M | -$175.7M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$31.0M | -$223.7M | -$99.0M | -$62.3M | -$238.2M |
| Net Change in Cash | $40.1M | -$218.9M | $414.2M | $386.0M | $199.2M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 4:47am (4h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$7.1B $7.1B – $7.2B
|
$8.0B $7.9B – $8.2B
|
$8.8B $8.7B – $9.2B
|
$10.1B $9.9B – $10.3B
|
| EBITDA |
$2.0B $2.0B – $2.0B
|
$2.2B $2.2B – $2.3B
|
$2.5B $2.4B – $2.6B
|
$2.8B $2.8B – $2.9B
|
| Net Income |
$1.6B $1.6B – $1.6B
|
$1.9B $1.8B – $1.9B
|
$2.0B $1.9B – $2.1B
|
$2.4B $2.3B – $2.5B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 3:03am (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -2.5% | +7.6% | +20.4% | +15.1% |
| Gross Profit Growth | -2.9% | +7.1% | +23.0% | +15.1% |
| Operating Income Growth | -15.7% | +6.3% | +45.9% | +17.7% |
| Net Income Growth | -10.0% | +32.5% | +9.4% | +17.9% |
| EBITDA Growth | -9.8% | +12.1% | +36.1% | +17.5% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 4:47am (4h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-11 | KAO MIN H | G-Gift | 3,385.00 | $0.00 | $0 |
| 2026-06-11 | KAO MIN H | G-Gift | 3,385.00 | $0.00 | $0 |
| 2026-06-11 | KAO MIN H | G-Gift | 4,235.00 | $0.00 | $0 |
| 2026-06-11 | BURRELL JONATHAN | G-Gift | 322,000.00 | $0.00 | $0 |
| 2026-06-11 | BURRELL JONATHAN | G-Gift | 322,000.00 | $0.00 | $0 |
| 2026-06-09 | Hartnett Joseph J | S-Sale | 643.00 | $236.09 | $151,806 |
| 2026-06-05 | Ball Susan M. | A-Award | 753.00 | $0.00 | $0 |
| 2026-06-06 | Ball Susan M. | F-InKind | 215.00 | $236.57 | $50,863 |
| 2026-06-05 | Hartnett Joseph J | A-Award | 753.00 | $0.00 | $0 |
| 2026-06-06 | Hartnett Joseph J | F-InKind | 215.00 | $236.57 | $50,863 |
| 2026-06-09 | Hartnett Joseph J | S-Sale | 643.00 | $263.57 | $169,476 |
| 2026-06-05 | LEWIS CATHERINE A. | A-Award | 753.00 | $0.00 | $0 |
| 2026-06-06 | LEWIS CATHERINE A. | F-InKind | 215.00 | $236.57 | $50,863 |
| 2026-06-05 | Boessen Douglas G. | S-Sale | 272.00 | $236.59 | $64,353 |
| 2026-06-05 | Boessen Douglas G. | S-Sale | 355.00 | $237.31 | $84,243 |
| 2026-06-05 | Boessen Douglas G. | S-Sale | 1,288.00 | $238.28 | $306,909 |
| 2026-06-05 | Boessen Douglas G. | S-Sale | 85.00 | $238.91 | $20,307 |
| 2026-06-05 | BURRELL JONATHAN | A-Award | 753.00 | $0.00 | $0 |
| 2026-06-06 | BURRELL JONATHAN | F-InKind | 215.00 | $236.57 | $50,863 |
| 2026-05-26 | BURRELL JONATHAN | G-Gift | 15,600.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:43pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2027-03-12 | $1.05 | 2026-02-18 | 2027-03-12 | 2027-03-26 |
| 2026-12-11 | $1.05 | 2026-02-18 | 2026-12-11 | 2026-12-24 |
| 2026-09-11 | $1.05 | 2026-02-18 | 2026-09-11 | 2026-09-25 |
| 2026-06-15 | $1.05 | 2026-02-18 | 2026-06-15 | 2026-06-26 |
| 2026-03-13 | $0.90 | 2025-02-19 | 2026-03-13 | 2026-03-27 |
| 2025-12-12 | $0.90 | 2025-02-19 | 2025-12-12 | 2025-12-26 |
| 2025-09-12 | $0.90 | 2025-02-19 | 2025-09-12 | 2025-09-26 |
| 2025-06-16 | $0.90 | 2025-02-19 | 2025-06-16 | 2025-06-27 |
| 2025-03-14 | $0.75 | 2024-02-21 | 2025-03-14 | 2025-03-28 |
| 2024-12-13 | $0.75 | 2024-02-21 | 2024-12-13 | 2024-12-27 |
| 2024-09-13 | $0.75 | 2024-02-21 | 2024-09-13 | 2024-09-27 |
| 2024-06-17 | $0.75 | 2024-02-21 | 2024-06-17 | 2024-06-28 |
| 2024-03-14 | $0.73 | 2023-02-22 | 2024-03-15 | 2024-03-29 |
| 2023-12-14 | $0.73 | 2023-02-22 | 2023-12-15 | 2023-12-29 |
| 2023-09-14 | $0.73 | 2023-02-22 | 2023-09-15 | 2023-09-29 |
| 2023-06-16 | $0.73 | 2023-02-22 | 2023-06-20 | 2023-06-30 |
| 2023-03-14 | $0.73 | 2022-02-16 | 2023-03-15 | 2023-03-31 |
| 2022-12-14 | $0.73 | 2022-02-16 | 2022-12-15 | 2022-12-30 |
| 2022-09-14 | $0.73 | 2022-02-16 | 2022-09-15 | 2022-09-30 |
| 2022-06-16 | $0.73 | 2022-02-16 | 2022-06-20 | 2022-06-30 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for GRMN — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30