Garmin Ltd.

Garmin Ltd.

GRMN
Garmin Ltd.US flagNew York Stock Exchange
238.10
USD
-0.48
- -
45.92BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
13.47
14.87
14.79
16.13
16.62
17.75
19.78
21.91
25.93
25.24
27.32
32.79
37.65
38.77
Basic EPS, GAAP
3.13
1.89
2.39
2.74
3.77
3.68
5.01
5.19
5.63
5.06
6.74
7.35
8.65
9.02
Free Cash Flow per Basic Share
2.93
2.3
1.03
3.23
2.71
4.02
3.04
4.96
3.66
2.82
6.17
6.45
7.08
7.54
Dividend per Share
1.8
1.86
1.98
2.55
2.04
1.57
2.2
2.36
2.56
3.53
2.92
2.98
3.45
3.6
Book Value per Share
18.75
18.94
19.56
10.99
12.97
14.46
17.1
19.74
22.58
24.68
27.6
31.34
36.32
38.41
Tangible Book Value per Share
17.61
16.5
16.26
16.49
18.33
19.86
21.77
24.53
27.7
28.35
32.51
36.92
41.64
43.29
Basic Weighted Avg Shares
195
193
191
189
188
189
190
191
192
193
191
192
192
192
Sales/Revenue/Turnover
2,632
2,871
2,820
3,046
3,122
3,347
3,758
4,187
4,983
4,860
5,228
6,297
7,246
7,464
Operating Margin (%)
21.81
24.06
19.49
20.78
21.9
23.25
25.17
25.18
24.46
21.15
20.89
25.31
25.89
26.46
Depreciation Expense
79
77
78
86
86
96
106
127
155
164
178
180
189
192
Net Income, GAAP
612
364
456
518
709
694
952
992
1,082
974
1,290
1,411
1,664
1,736
Effective Tax Rate (%)
6.3
49.68
19.56
18.93
- -
15.69
3.52
10.07
10.32
8.58
- -
16.75
17.41
17.24
Profit Margin (%)
23.27
12.69
16.18
17
22.71
20.73
25.35
23.7
21.72
20.03
24.67
22.41
22.96
23.26
Working Capital
1,690
1,478
1,345
1,480
1,554
1,744
2,022
2,505
2,814
2,744
3,153
3,828
4,528
4,622
LT Debt
- -
- -
- -
- -
- -
- -
49
76
70
115
113
135
165
168
Total Equity
3,660
3,403
3,345
3,418
3,852
4,163
4,793
5,516
6,114
6,204
7,012
7,848
8,973
9,271
Return on Invested Capital (%)
14.9
9.57
12.74
15.15
- -
16.22
20.05
17.99
18.28
14.61
- -
17
17.43
17.77
Return on Capital (%)
17.34
9.95
12.35
17.84
- -
26.88
31.62
27.78
26.21
20.99
- -
24.44
25.01
24.71
Return on Common Equity (%)
17.34
9.95
12.35
17.84
31.43
26.88
31.88
28.27
26.68
21.42
25.7
24.98
25.58
25.26

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
156
165
168
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
192
193
193
Market Capitalization
47,373
39,042
44,662

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
5,811
6,248
5,997
Cash, Cash Equivalents & STI
2,540
2,738
2,701
Accounts Receivable, Net
956
1,253
941
Inventories
1,888
1,772
1,850
Total Current Liabilities
1,752
1,720
1,375
Payables & Accruals
1,647
1,614
1,274
ST Debt
- -
- -
- -
Deferred Revenue
105
106
101

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.48%
10.32%
14.32%
Free Cash Flow
36.76%
16.82%
10.01%
Net Income, GAAP
14.85%
11.76%
17.89%
Sales/Revenue/Turnover
10.1%
11.93%
15.06%
Total Cash Common Dividend
8.11%
9.59%
15.99%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,382
1,507
1,586
1,823
6,297
2025
1,535
1,815
1,771
2,125
7,246
2026
1,753
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.44
1.57
2.08
2.27
7.35
2025
1.73
2.08
2.09
2.75
8.65
2026
2.1
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.73
0.75
0.75
0.75
2.98
2025
0.75
0.9
0.9
0.9
3.45
2026
0.9
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Clifton Albert Pemble
Full Time Employees
21,800
Sector
Technology
Industry
Hardware, Equipment & Parts
Address
MUehlentalstrasse 2 Schaffhausen Switzerland 8200
IPO Date
Dec 8, 2000
Website
garmin.com
Business
Garmin Ltd. is a multinational technology company specializing in the design, development, manufacture, marketing, and distribution of GPS-enabled navigation, communication, sensor-based, and information products. Its core product portfolio includes automotive, aviation, marine, outdoor, and fitness wearable devices; running and multi-sport watches; handheld and portable GPS devices; integrated flight decks; and high-performance LED lighting systems for marine applications. Garmin's offerings also extend to wireless devices and applications that support precision tracking and sports performance. The company operates globally, serving sectors such as automotive, aviation, marine, outdoor recreation, and fitness markets. Founded in 1989 and headquartered in Olathe, Kansas, Garmin has expanded through strategic acquisitions and product innovations. Notably, in 2024, Garmin acquired Lumishore, a UK-based leader in marine LED lighting systems, which strengthens its marine division with high-performance lighting technology integration. In 2025, Garmin completed the acquisition of MYLAPS, a global market leader in sports timing and performance analysis, enhancing Garmin's connected sports technology ecosystem. The company continues to launch new products regularly, including smartwatches like the Lily 2 Active and advanced fitness and outdoor devices, demonstrating ongoing innovation across segments. Garmin maintains a strong industry presence by leveraging advanced GPS technologies and sensor integration across its diverse product range. The company serves customers worldwide with a comprehensive ecosystem that includes handheld GPS units, mobile apps, connected fitness and outdoor wearables, aviation flight decks, and marine navigation and lighting solutions. With over 100 subsidiaries worldwide, Garmin focuses on continuous product development and strategic growth to sustain market leadership in navigation and wearable technology. The company reported strong financial performance with increased revenues and market expansion, supported by its broad geographic and segment coverage.

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