Garmin Ltd.

US$285.57As of Sun 8 Nov 2026, 12:00 UTC

NYSE:GRMNTechnology

Country USA

PE (Fwd) •••

TSR 10Y CAGR 22.44%

Div yield 1.47%

ROE 22.38%

Scientific & Technical Instruments

Beta (5Y) 0.90

PE TTM 27.43

TSR TTM 35.69%

Mkt cap US$55.03B

ROIC 26.38%

SE Grade™

Value

Quality

Moat

Consensus

Reference

$335

17.22%

(34.29%)

Hold 1|7|6|6|8

TTM

FYE 31 Dec USD

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

1.407

Revenue$B

8.571

8.991

9.280

9.864

10.23

10.57

11.00

11.32

11.98

12.59

1.549

4.24%

4.52%

8.81

Revenue growth%

33.27

32.82

30.20

31.06

32.45

34.84

37.37

36.71

36.34

34.92

6.17

36.34

34.05

25.33

Gross margin%

17.18

19.45

16.80

16.21

16.09

15.25

15.26

17.07

18.33

15.89

23.15

15.89

16.51

18.90

Operating margin%

30.83

30.28

29.60

27.32

25.64

25.21

23.75

26.39

28.47

27.50

19.90

26.39

27.41

9.60

Net margin%

5.82

4.40

7.13

6.61

5.48

7.28

5.54

8.14

9.61

10.18

28.31

8.14

6.87

23.73

P/E ratio (avg)x

33.77

38.06

39.10

38.33

35.38

34.56

33.67

33.74

38.00

38.03

29.01

34.56

36.69

17.37

EV/EBITx

26.38

27.17

30.20

26.88

24.36

25.37

27.60

25.77

27.75

27.91

33.83

27.60

27.03

8.86

FCF yield (avg)%

32.83

35.62

38.16

37.24

36.97

39.84

41.14

38.98

37.57

35.36

8.03

38.98

37.40

3.46

FCF margin%

7.42

6.65

4.10

6.27

5.01

5.75

7.62

9.76

6.84

4.00

14.71

6.84

6.46

0.554

FCF / Net incomex

1.265

1.268

1.111

0.948

0.850

0.884

0.932

0.832

0.850

0.771

1.166

0.850

0.908

2.74

ROIC%

24.16

25.31

24.69

25.07

25.73

25.10

23.91

21.04

19.04

18.07

15.89

21.04

24.43

13.21

Return on equity%

6.42

3.65

4.97

3.38

2.27

1.41

3.84

5.52

5.07

7.11

24.57

5.07

4.41

26.17

Return on assets%

11.82

11.44

11.08

11.77

8.92

8.53

7.96

8.08

6.12

3.15

9.37

7.96

8.73

42.35

EPS$

20.14

20.28

23.19

25.15

30.34

32.76

32.48

33.33

33.12

33.27

46.34

1.86%

4.89%

—

19.00

EPS growth%

5.84

3.28

1.67

1.71

1.32

2.23

1.22

0.93

1.31

3.42

24.30

1.31

1.69

51.79

Bookvalue per sh$

7.01

6.00

5.95

5.46

5.94

5.10

5.32

5.45

4.87

4.58

43.09

(5.08%)

(4.62%)

—

30.88

FCF per share$

36.90

38.67

43.10

46.58

46.82

46.10

53.21

51.09

52.38

61.31

20.51

5.54%

4.86%

—

26.19

Dividend per sh$

89.60

90.34

103.58

122.87

127.85

131.90

131.35

131.07

137.68

148.48

41.11

3.04%

6.98%

—

10.84

Div yield (avg)%

28.64

28.01

25.12

25.21

25.94

26.69

24.53

22.89

24.29

24.19

3.96

24.29

25.16

13.44

Payout ratio%

19.58

20.59

19.80

18.16

17.85

16.24

14.07

11.38

11.92

14.40

10.30

14.07

17.04

193.1

Shares (diluted)M

236.2

252.0

282.3

270.9

289.0

300.3

290.4

275.5

273.4

304.9

193.1

1.08%

3.59%

11.93

Buyback yield%

22.97

23.51

22.37

25.32

25.51

27.24

26.63

23.92

24.67

24.66

24.85

24.67

0.574

D/E ratiox

1.012

1.111

1.037

1.077

1.040

1.167

1.134

1.114

1.176

1.200

1.742

1.167

1.113

4.965

Enterprise value$B

7.670

8.569

8.948

9.698

9.834

9.358

9.444

9.647

10.36

9.290

0.935

(1.13%)

1.16%

5.777

LT debt$B

6.956

7.743

7.093

8.054

9.032

9.502

10.49

9.842

11.18

10.76

6.981

3.56%

4.80%

Peers (US$55.03B)

Cap (US$)

Logitech International…

13.31B

17.04x

INFICON Holding AG

4.515B

46.50x

Comet Holding AG

2.840B

148.8x

Murata Manufacturing…

56.10B

30.87x

Capital

TTM

10Y

Leveragex

0.309

1.298

1.320

EBIT/Intx

1.119

0.337

0.345

Own earn%

78.85

(33.33)

(40.90)

Sh yield%

22.77

48.97

50.85

Owners

Insiders/Inst%

12.82

69.53

Short interest%

1.15

SBC / revenue%

5.52

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

24–31

$1 testx

—

Incr. ROIC%

Garmin Ltd. designs, manufactures and distributes GPS-enabled navigation, communications, sensor-based and information products and services worldwide, including smartwatches, outdoor, golf, dive and automotive devices, aircraft avionics and aviation services, and chartplotters, sonar and radars. It sells through independent retailers, dealers, distributors, installation and repair shops, OEMs and its online webshop.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

$12.59B

4.52%

1.00×

Cost of revenue

$6.828B

4.89%

1.04×

Operating expenses

$1.413B

3.63%

0.92×