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Garmin (GRMN) Financials

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$202.65 +0.72 (+0.36%)
Closing price 05/29/2025 03:59 PM Eastern
Extended Trading
$202.84 +0.19 (+0.10%)
As of 05/29/2025 05:35 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Garmin

Annual Income Statements for Garmin

This table shows Garmin's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/28/2024 12/30/2023 12/31/2022 12/25/2021 12/26/2020 12/28/2019 12/29/2018 12/30/2017 12/31/2016 12/26/2015
Net Income / (Loss) Attributable to Common Shareholders
1,411 1,290 974 1,082 992 952 694 709 518 456
Consolidated Net Income / (Loss)
1,411 1,290 974 1,082 992 952 694 709 518 456
Net Income / (Loss) Continuing Operations
1,411 1,290 974 1,082 992 952 694 709 518 456
Total Pre-Tax Income
1,695 1,200 1,065 1,207 1,103 987 823 697 639 567
Total Operating Income
1,594 1,092 1,028 1,219 1,054 946 778 684 633 550
Total Gross Profit
3,697 3,005 2,807 2,890 2,481 2,234 1,980 1,798 1,689 1,539
Total Revenue
6,297 5,228 4,860 4,983 4,187 3,758 3,347 3,122 3,046 2,820
Operating Revenue
6,297 5,228 4,860 4,983 4,187 3,758 3,347 3,122 3,046 2,820
Total Cost of Revenue
2,600 2,223 2,054 2,092 1,705 1,524 1,368 1,324 1,357 1,282
Operating Cost of Revenue
2,600 2,223 2,054 2,092 1,705 1,524 1,368 1,324 1,357 1,282
Total Operating Expenses
2,103 1,913 1,779 1,672 1,427 1,288 1,201 1,114 1,056 989
Selling, General & Admin Expense
1,109 1,008 944 721 624 519 478 438 411 395
Research & Development Expense
994 905 835 779 652 605 568 512 468 427
Total Other Income / (Expense), net
101 108 37 -12 49 42 45 13 5.76 18
Interest & Investment Income
114 77 41 29 37 53 47 37 33 30
Other Income / (Expense), net
-12 31 -3.70 -40 12 -11 -2.24 -23 -28 -12
Income Tax Expense
284 -89 91 125 111 35 129 -12 121 111
Basic Earnings per Share
$7.35 $6.74 $5.06 $5.63 $5.19 $5.01 $3.68 $3.77 $2.74 $2.39
Weighted Average Basic Shares Outstanding
192.40M 191.78M 191.36M 192.79M 191.57M 190.69M 188.60M 188.10M 188.50M 190.90M
Diluted Earnings per Share
$7.30 $6.71 $5.04 $5.61 $5.17 $4.99 $3.66 $3.76 $2.73 $2.39
Weighted Average Diluted Shares Outstanding
192.40M 191.78M 191.36M 192.79M 191.57M 190.69M 188.60M 188.10M 188.50M 190.90M
Weighted Average Basic & Diluted Shares Outstanding
192.40M 191.78M 191.36M 192.79M 191.57M 190.69M 188.60M 188.10M 188.50M 190.90M

Quarterly Income Statements for Garmin

This table shows Garmin's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/29/2025 12/28/2024 9/28/2024 6/29/2024 3/30/2024 12/30/2023 9/30/2023 7/1/2023 4/1/2023 12/31/2022 9/24/2022
Net Income / (Loss) Attributable to Common Shareholders
333 436 399 301 276 542 257 288 202 293 211
Consolidated Net Income / (Loss)
333 436 399 301 276 542 257 288 202 293 211
Net Income / (Loss) Continuing Operations
333 436 399 301 276 542 257 288 202 293 211
Total Pre-Tax Income
389 516 486 366 327 383 280 316 222 330 220
Total Operating Income
333 516 437 342 298 340 270 284 197 267 239
Total Gross Profit
885 1,080 952 863 802 864 729 759 653 745 670
Total Revenue
1,535 1,823 1,586 1,507 1,382 1,483 1,278 1,321 1,147 1,306 1,140
Operating Revenue
1,535 1,823 1,586 1,507 1,382 1,483 1,278 1,321 1,147 1,306 1,140
Total Cost of Revenue
651 743 634 644 580 618 549 561 495 561 470
Operating Cost of Revenue
651 743 634 644 580 618 549 561 495 561 470
Total Operating Expenses
552 564 514 521 504 524 458 475 456 478 431
Selling, General & Admin Expense
284 305 265 278 261 286 237 251 234 372 190
Research & Development Expense
268 259 249 243 243 237 222 224 221 216 209
Total Other Income / (Expense), net
56 0.06 49 24 29 43 9.20 32 25 63 -19
Interest & Investment Income
31 30 29 29 25 23 20 19 16 14 10
Other Income / (Expense), net
26 -30 20 -5.34 3.60 20 -11 13 8.89 48 -30
Income Tax Expense
56 80 87 65 51 -159 22 28 19 37 9.42
Basic Earnings per Share
$1.73 $2.26 $2.08 $1.57 $1.44 $2.83 $1.34 $1.51 $1.06 $1.53 $1.09
Weighted Average Basic Shares Outstanding
192.54M 192.40M 192.20M 192.07M 191.89M 191.78M 191.44M 191.29M 191.50M 191.36M 192.67M
Diluted Earnings per Share
$1.72 $2.24 $2.07 $1.56 $1.43 $2.82 $1.34 $1.50 $1.05 $1.53 $1.09
Weighted Average Diluted Shares Outstanding
193.72M 192.40M 193.17M 192.90M 192.70M 191.78M 191.87M 191.60M 191.89M 191.36M 193.11M
Weighted Average Basic & Diluted Shares Outstanding
192.54M 192.40M 192.02M 192.21M 192.08M 191.78M 191.33M 191.45M 191.29M 191.36M 191.66M

Annual Cash Flow Statements for Garmin

This table details how cash moves in and out of Garmin's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/28/2024 12/30/2023 12/31/2022 12/25/2021 12/26/2020 12/28/2019 12/29/2018 12/30/2017 12/31/2016 12/26/2015
Net Change in Cash & Equivalents
386 414 -219 40 431 -174 310 45 14 -363
Net Cash From Operating Activities
1,432 1,376 788 1,012 1,135 699 920 661 706 280
Net Cash From Continuing Operating Activities
1,432 1,376 788 1,012 1,135 699 920 661 706 280
Net Income / (Loss) Continuing Operations
1,411 1,290 974 1,082 992 952 694 709 518 456
Consolidated Net Income / (Loss)
1,411 1,290 974 1,082 992 952 694 709 518 456
Depreciation Expense
140 132 119 103 78 72 65 60 56 51
Amortization Expense
39 45 45 51 49 34 31 26 31 27
Non-Cash Adjustments To Reconcile Net Income
159 76 70 129 68 81 71 67 84 85
Changes in Operating Assets and Liabilities, net
-318 -167 -419 -353 -52 -441 59 -202 18 -339
Net Cash From Investing Activities
-393 -333 -145 -475 -261 -451 -308 -194 -122 -112
Net Cash From Continuing Investing Activities
-393 -333 -145 -475 -261 -451 -308 -194 -122 -112
Purchase of Property, Plant & Equipment
-194 -194 -244 -308 -185 -118 -156 -140 -91 -81
Acquisitions
-16 -151 -13 -22 -151 -303 -34 -103 -84 -43
Purchase of Investments
-508 -171 -1,052 -1,509 -1,053 -789 -403 -588 -905 -916
Sale and/or Maturity of Investments
309 183 1,164 1,363 1,126 759 284 635 957 919
Other Investing Activities, net
15 -1.29 0.50 - - - - - - 0.05
Net Cash From Financing Activities
-627 -637 -841 -487 -462 -416 -286 -448 -562 -500
Net Cash From Continuing Financing Activities
-627 -637 -841 -487 -462 -416 -286 -448 -562 -500
Repurchase of Common Equity
-62 - - - 0.00 - - -75 -101 -131
Payment of Dividends
-572 -559 -679 -491 -451 -417 -296 -383 -481 -378
Issuance of Common Equity
50 44 62 36 15 27 27 22 19 17
Other Financing Activities, net
-42 -23 -23 -31 -26 -26 -17 -13 1.69 -7.64
Effect of Exchange Rate Changes
-26 7.46 -21 -10 18 -5.94 -16 27 -8.66 -32
Cash Income Taxes Paid
334 302 185 131 133 160 68 106 116 253

Quarterly Cash Flow Statements for Garmin

This table details how cash moves in and out of Garmin's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/29/2025 12/28/2024 9/28/2024 6/29/2024 3/30/2024 12/30/2023 9/30/2023 7/1/2023 4/1/2023 12/31/2022 9/24/2022
Net Change in Cash & Equivalents
96 70 72 16 228 271 -2.68 64 82 197 -5.08
Net Cash From Operating Activities
421 484 258 255 435 466 357 274 279 369 154
Net Cash From Continuing Operating Activities
421 484 258 255 435 466 357 274 279 369 154
Net Income / (Loss) Continuing Operations
333 436 399 301 276 542 257 288 202 293 211
Consolidated Net Income / (Loss)
333 436 399 301 276 542 257 288 202 293 211
Depreciation Expense
37 38 34 34 34 34 34 33 32 31 29
Amortization Expense
8.84 8.39 9.80 10 11 11 11 11 11 11 10
Non-Cash Adjustments To Reconcile Net Income
-1.13 84 6.23 36 34 0.01 46 11 20 -33 43
Changes in Operating Assets and Liabilities, net
43 -82 -192 -125 81 -122 9.67 -69 14 67 -139
Net Cash From Investing Activities
-133 -203 -48 -106 -37 -65 -198 -62 -7.90 174 78
Net Cash From Continuing Investing Activities
-133 -203 -48 -106 -37 -65 -198 -62 -7.90 174 78
Purchase of Property, Plant & Equipment
-40 -85 -39 -37 -33 -49 -46 -53 -47 -59 -50
Acquisitions
-2.10 -21 - - 5.01 - -151 - 0.00 1.41 -3.15
Purchase of Investments
-180 -144 -82 -196 -86 -55 -47 -50 -19 -7.05 -172
Sale and/or Maturity of Investments
89 32 74 127 77 38 46 41 58 240 303
Other Investing Activities, net
0.60 15 -0.14 -0.10 -0.22 -0.27 -0.32 -0.51 -0.19 - -
Net Cash From Financing Activities
-205 -177 -164 -129 -156 -150 -149 -145 -192 -363 -221
Net Cash From Continuing Financing Activities
-205 -177 -164 -129 -156 -150 -149 -145 -192 -363 -221
Repurchase of Common Equity
-27 - - - - - - - - - -
Payment of Dividends
-145 -144 -144 -144 -140 -140 -140 -140 -140 -280 -141
Issuance of Common Equity
0.00 25 - - - 22 - - - 21 0.00
Other Financing Activities, net
-33 -26 -0.05 -0.28 -16 -13 - -0.23 -9.17 -7.98 -0.03
Effect of Exchange Rate Changes
13 -34 25 -3.85 -14 20 -13 -2.79 3.39 17 -16

Annual Balance Sheets for Garmin

This table presents Garmin's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/28/2024 12/30/2023 12/31/2022 12/25/2021 12/26/2020 12/28/2019 12/29/2018 12/30/2017 12/31/2016 12/26/2015
Total Assets
9,631 8,604 7,731 7,854 7,031 6,167 5,383 4,948 4,525 4,499
Total Current Assets
5,336 4,464 3,955 4,262 3,669 3,058 2,665 2,346 2,263 2,211
Cash & Equivalents
2,079 1,693 1,279 1,498 1,458 1,028 1,202 891 847 833
Short-Term Investments
421 275 173 348 388 376 183 162 267 215
Accounts Receivable
983 815 657 843 849 707 570 591 527 531
Inventories, net
1,474 1,346 1,515 1,228 762 753 562 518 485 501
Prepaid Expenses
354 319 316 329 192 169 121 154 90 82
Other Current Assets
24 16 15 16 20 25 28 31 47 49
Plant, Property, & Equipment, net
1,237 1,224 1,147 1,067 856 729 664 596 483 446
Total Noncurrent Assets
3,057 2,915 2,629 2,525 2,506 2,380 2,054 2,006 1,779 1,842
Long-Term Investments
1,198 1,125 1,208 1,269 1,131 1,205 1,330 1,260 1,213 1,343
Goodwill
604 608 568 575 829 660 417 410 305 246
Intangible Assets
154 181 178 216 - - - - - -
Noncurrent Deferred & Refundable Income Taxes
823 755 441 260 245 269 177 196 110 117
Other Noncurrent Operating Assets
279 246 233 205 301 246 130 140 151 136
Total Liabilities & Shareholders' Equity
9,631 8,604 7,731 7,854 7,031 6,167 5,383 4,948 4,525 4,499
Total Liabilities
1,782 1,592 1,527 1,740 1,515 1,373 1,220 1,096 1,107 1,154
Total Current Liabilities
1,508 1,311 1,212 1,448 1,164 1,036 921 792 783 866
Accounts Payable
359 254 212 370 259 241 205 170 172 179
Accrued Expenses
388 400 346 393 334 298 255 287 263 237
Dividends Payable
144 140 140 258 234 217 200 96 96 193
Current Deferred Revenue
111 101 91 88 87 95 96 103 147 165
Current Deferred & Payable Income Tax Liabilities
295 225 246 128 69 57 52 34 16 22
Current Employee Benefit Liabilities
211 190 176 211 182 128 113 103 89 71
Total Noncurrent Liabilities
274 281 315 292 351 337 299 304 324 288
Noncurrent Deferred Revenue
35 53 70 104 143 173 204 225 262 230
Noncurrent Deferred & Payable Income Tax Liabilities
103 115 130 118 117 115 93 77 61 56
Other Noncurrent Operating Liabilities
136 113 115 70 91 50 1.85 1.79 1.59 1.64
Total Equity & Noncontrolling Interests
7,848 7,012 6,204 6,114 5,516 4,793 4,163 3,852 3,418 3,345
Total Preferred & Common Equity
7,848 7,012 6,204 6,114 5,516 4,793 4,163 3,852 3,418 3,345
Total Common Equity
7,848 7,012 6,204 6,114 5,516 4,793 4,163 3,852 3,418 3,345
Common Stock
2,267 2,145 2,060 1,979 1,898 1,854 1,842 1,846 1,854 1,860
Retained Earnings
5,999 5,264 4,734 4,321 3,754 3,229 2,711 2,418 2,057 1,931
Treasury Stock
-271 -331 -475 -303 -320 -345 -398 -469 -456 -415
Accumulated Other Comprehensive Income / (Loss)
-147 -66 -115 118 183 56 8.43 56 -37 -30

Quarterly Balance Sheets for Garmin

This table presents Garmin's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/29/2025 12/28/2024 9/28/2024 6/29/2024 3/30/2024 12/30/2023 9/30/2023 7/1/2023 4/1/2023 12/31/2022 9/24/2022
Total Assets
9,788 9,631 9,348 8,883 8,634 8,604 7,965 7,872 7,726 7,731 7,628
Total Current Assets
5,445 5,336 5,210 4,697 4,517 4,464 4,157 4,111 3,964 3,955 3,968
Cash & Equivalents
2,176 2,079 2,009 1,937 1,922 1,693 1,423 1,426 1,362 1,279 1,082
Short-Term Investments
499 421 415 289 275 275 273 254 189 173 379
Accounts Receivable
787 983 922 808 695 815 721 717 611 657 641
Inventories, net
1,582 1,474 1,506 1,320 1,302 1,346 1,440 1,402 1,479 1,515 1,533
Prepaid Expenses
381 354 334 322 306 319 285 298 309 316 318
Other Current Assets
21 24 23 21 18 16 15 15 15 15 14
Plant, Property, & Equipment, net
1,233 1,237 1,220 1,206 1,206 1,224 1,187 1,181 1,165 1,147 1,100
Total Noncurrent Assets
3,109 3,057 2,918 2,980 2,910 2,915 2,621 2,580 2,597 2,629 2,559
Long-Term Investments
1,226 1,198 1,107 1,192 1,134 1,125 1,082 1,100 1,164 1,208 1,236
Goodwill
617 604 612 600 602 608 594 573 572 568 541
Intangible Assets
150 154 168 168 177 181 186 166 173 178 180
Noncurrent Deferred & Refundable Income Taxes
832 823 788 777 763 755 515 494 455 441 390
Other Noncurrent Operating Assets
284 279 244 243 235 246 244 247 234 233 212
Total Liabilities & Shareholders' Equity
9,788 9,631 9,348 8,883 8,634 8,604 7,965 7,872 7,726 7,731 7,628
Total Liabilities
1,608 1,782 1,841 1,878 1,388 1,592 1,616 1,748 1,321 1,527 1,749
Total Current Liabilities
1,330 1,508 1,579 1,624 1,117 1,311 1,328 1,450 1,008 1,212 1,443
Accounts Payable
345 359 374 332 243 254 268 254 209 212 269
Accrued Expenses
342 388 357 345 324 400 334 325 289 346 310
Dividends Payable
0.00 144 288 433 0.00 140 279 419 0.00 140 421
Current Deferred Revenue
106 111 113 106 101 101 98 96 91 91 89
Current Deferred & Payable Income Tax Liabilities
332 295 228 237 256 225 152 199 255 246 170
Current Employee Benefit Liabilities
205 211 219 172 193 190 197 158 165 176 185
Total Noncurrent Liabilities
278 274 263 254 270 281 288 298 313 315 306
Noncurrent Deferred Revenue
32 35 47 48 50 53 60 71 69 70 88
Noncurrent Deferred & Payable Income Tax Liabilities
105 103 105 103 114 115 116 117 132 130 118
Other Noncurrent Operating Liabilities
141 136 110 103 106 113 111 111 112 115 101
Total Equity & Noncontrolling Interests
8,179 7,848 7,507 7,005 7,246 7,012 6,349 6,124 6,405 6,204 5,878
Total Preferred & Common Equity
8,179 7,848 7,507 7,005 7,246 7,012 6,349 6,124 6,405 6,204 5,878
Total Common Equity
8,179 7,848 7,507 7,005 7,246 7,012 6,349 6,124 6,405 6,204 5,878
Common Stock
2,275 2,267 2,238 2,203 2,155 2,145 2,120 2,097 2,066 2,060 2,045
Retained Earnings
6,332 5,999 5,564 5,164 5,440 5,264 4,722 4,465 4,936 4,734 4,439
Treasury Stock
-302 -271 -244 -224 -227 -331 -331 -323 -510 -475 -399
Accumulated Other Comprehensive Income / (Loss)
-126 -147 -51 -138 -122 -66 -161 -115 -87 -115 -207

Annual Metrics And Ratios for Garmin

This table displays calculated financial ratios and metrics derived from Garmin's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/28/2024 12/30/2023 12/31/2022 12/25/2021 12/26/2020 12/28/2019 12/29/2018 12/30/2017 12/31/2016 12/26/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
20.44% 7.57% -2.46% 19.02% 11.42% 12.25% 7.24% 2.49% 8.00% -1.76%
EBITDA Growth
35.44% 9.48% -10.88% 11.73% 14.66% 19.29% 16.87% 7.93% 12.29% -19.51%
EBIT Growth
40.86% 9.66% -13.08% 10.49% 14.13% 20.40% 17.56% 9.08% 12.59% -21.89%
NOPAT Growth
13.09% 24.88% -14.02% 15.26% 3.92% 39.03% -5.63% 35.53% 16.06% 27.20%
Net Income Growth
9.44% 32.46% -10.04% 9.06% 4.18% 37.23% -2.11% 36.95% 13.48% 25.26%
EPS Growth
8.79% 33.13% -10.16% 8.51% 3.61% 36.34% -2.66% 37.73% 14.23% 27.13%
Operating Cash Flow Growth
4.08% 74.60% -22.14% -10.82% 62.52% -24.03% 39.14% -6.35% 151.61% -46.34%
Free Cash Flow Firm Growth
36.89% 55.26% -15.46% 5.39% 261.23% -75.15% 159.78% -47.63% 319.46% -78.94%
Invested Capital Growth
5.79% 10.20% 13.07% 17.49% 15.46% 45.66% 0.83% 37.74% 3.55% 40.34%
Revenue Q/Q Growth
5.71% 3.49% -1.72% 0.81% 6.33% 4.74% 1.05% 0.30% 3.62% -0.77%
EBITDA Q/Q Growth
7.75% 3.87% 1.21% -5.56% 11.02% 6.24% 5.41% 0.67% 4.04% -7.42%
EBIT Q/Q Growth
8.62% 4.14% 1.36% -6.57% 11.55% 6.53% 5.80% 0.96% 3.96% -8.18%
NOPAT Q/Q Growth
-3.70% 26.94% -5.65% -2.15% -3.15% 21.91% 6.56% 1.02% 1.91% -12.27%
Net Income Q/Q Growth
-7.01% 23.91% 0.74% -4.20% -2.67% 21.83% 7.36% -0.14% 2.20% -14.58%
EPS Q/Q Growth
-7.36% 23.80% 0.80% -4.27% -2.82% 21.41% 7.33% 0.00% 2.63% -14.64%
Operating Cash Flow Q/Q Growth
1.27% 7.61% 33.93% -20.86% 21.57% 2.44% 2.16% -2.23% 8.45% 4.99%
Free Cash Flow Firm Q/Q Growth
13.18% 18.19% 29.24% -28.95% 39.85% -17.71% 36.78% -41.36% 16.94% -24.39%
Invested Capital Q/Q Growth
0.69% 5.39% 2.26% 8.46% 1.10% 10.36% 1.67% 10.80% -1.83% 3.31%
Profitability Metrics
- - - - - - - - - -
Gross Margin
58.70% 57.48% 57.75% 58.01% 59.27% 59.45% 59.14% 57.60% 55.44% 54.56%
EBITDA Margin
27.98% 24.88% 24.44% 26.75% 28.50% 27.69% 26.06% 23.91% 22.71% 21.84%
Operating Margin
25.31% 20.89% 21.15% 24.46% 25.18% 25.17% 23.25% 21.90% 20.78% 19.49%
EBIT Margin
25.12% 21.48% 21.07% 23.65% 25.47% 24.87% 23.18% 21.15% 19.87% 19.06%
Profit (Net Income) Margin
22.41% 24.67% 20.03% 21.72% 23.70% 25.35% 20.73% 22.71% 17.00% 16.18%
Tax Burden Percent
83.25% 107.44% 91.42% 89.68% 89.93% 96.48% 84.31% 101.71% 81.07% 80.44%
Interest Burden Percent
107.18% 106.88% 103.99% 102.43% 103.47% 105.65% 106.07% 105.59% 105.52% 105.52%
Effective Tax Rate
16.75% -7.44% 8.58% 10.32% 10.07% 3.52% 15.69% -1.71% 18.93% 19.56%
Return on Invested Capital (ROIC)
31.78% 30.31% 27.08% 36.25% 36.65% 45.06% 39.97% 49.28% 43.98% 45.04%
ROIC Less NNEP Spread (ROIC-NNEP)
29.18% 26.07% 25.81% 36.62% 34.93% 43.42% 38.37% 48.67% 43.77% 44.45%
Return on Net Nonoperating Assets (RNNOA)
-12.78% -10.80% -11.27% -17.64% -17.40% -23.79% -22.65% -29.78% -28.67% -31.52%
Return on Equity (ROE)
19.00% 19.52% 15.81% 18.61% 19.25% 21.27% 17.32% 19.50% 15.31% 13.52%
Cash Return on Invested Capital (CROIC)
26.15% 20.61% 14.81% 20.16% 22.30% 7.89% 39.14% 17.53% 40.49% 11.47%
Operating Return on Assets (OROA)
17.35% 13.75% 13.14% 15.83% 16.16% 16.18% 15.02% 13.94% 13.41% 11.69%
Return on Assets (ROA)
15.48% 15.79% 12.49% 14.54% 15.04% 16.49% 13.44% 14.97% 11.47% 9.93%
Return on Common Equity (ROCE)
19.00% 19.52% 15.81% 18.61% 19.25% 21.27% 17.32% 19.50% 15.31% 13.52%
Return on Equity Simple (ROE_SIMPLE)
17.98% 18.39% 15.69% 17.70% 17.99% 19.87% 16.67% 18.40% 15.15% 13.64%
Net Operating Profit after Tax (NOPAT)
1,327 1,173 940 1,093 948 912 656 695 513 442
NOPAT Margin
21.07% 22.44% 19.33% 21.93% 22.65% 24.28% 19.60% 22.28% 16.84% 15.67%
Net Nonoperating Expense Percent (NNEP)
2.59% 4.25% 1.26% -0.38% 1.72% 1.64% 1.60% 0.61% 0.21% 0.59%
Return On Investment Capital (ROIC_SIMPLE)
16.91% 16.73% 15.14% - - - - - - -
Cost of Revenue to Revenue
41.30% 42.52% 42.25% 41.99% 40.73% 40.55% 40.86% 42.40% 44.56% 45.44%
SG&A Expenses to Revenue
17.61% 19.28% 19.42% 14.48% 14.90% 13.80% 14.28% 14.03% 13.48% 14.00%
R&D to Revenue
15.78% 17.30% 17.18% 15.63% 15.58% 16.11% 16.96% 16.39% 15.36% 15.14%
Operating Expenses to Revenue
33.39% 36.59% 36.60% 33.55% 34.09% 34.29% 35.89% 35.70% 34.66% 35.07%
Earnings before Interest and Taxes (EBIT)
1,582 1,123 1,024 1,178 1,066 934 776 660 605 538
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,762 1,301 1,188 1,333 1,193 1,041 872 746 692 616
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
5.12 3.45 2.73 3.96 3.85 3.66 2,620.83 2.60 2,295.69 1.79
Price to Tangible Book Value (P/TBV)
5.67 3.88 3.10 4.55 4.53 4.25 2,912.64 2.91 2,520.61 1.94
Price to Revenue (P/Rev)
6.38 4.62 3.48 4.86 5.07 4.67 3,259.33 3.21 2,576.23 2.13
Price to Earnings (P/E)
28.48 18.74 17.38 22.37 21.39 18.44 15,719.28 14.12 15,156.09 13.16
Dividend Yield
1.42% 2.31% 3.24% 2.03% 2.16% 2.53% 3.81% 4.04% 5.15% 6.97%
Earnings Yield
3.51% 5.33% 5.75% 4.47% 4.67% 5.42% 0.01% 7.08% 0.01% 7.60%
Enterprise Value to Invested Capital (EV/IC)
8.50 5.19 3.87 6.47 6.58 6.23 6,616.60 4.71 6,608.89 3.15
Enterprise Value to Revenue (EV/Rev)
5.80 4.03 2.93 4.23 4.36 3.98 3,258.52 2.47 2,575.47 1.28
Enterprise Value to EBITDA (EV/EBITDA)
20.72 16.21 12.00 15.82 15.30 14.37 12,504.64 10.32 11,342.99 5.86
Enterprise Value to EBIT (EV/EBIT)
23.08 18.77 13.92 17.90 17.11 16.00 14,054.54 11.66 12,961.17 6.72
Enterprise Value to NOPAT (EV/NOPAT)
27.51 17.97 15.18 19.30 19.25 16.39 16,622.02 11.07 15,289.53 8.17
Enterprise Value to Operating Cash Flow (EV/OCF)
25.48 15.32 18.09 20.83 16.08 21.40 11,862.41 11.65 11,115.98 12.88
Enterprise Value to Free Cash Flow (EV/FCFF)
33.42 26.42 27.75 34.69 31.64 93.64 16,974.46 31.12 16,606.87 32.07
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage
-0.44 -0.41 -0.44 -0.48 -0.50 -0.55 -0.59 -0.61 -0.66 -0.71
Leverage Ratio
1.23 1.24 1.27 1.28 1.28 1.29 1.29 1.30 1.33 1.36
Compound Leverage Factor
1.32 1.32 1.32 1.31 1.32 1.36 1.37 1.38 1.41 1.44
Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score
16.08 11.45 9.00 10.67 10.68 9.91 5,368.49 7.61 4,254.58 5.10
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
3.54 3.41 3.26 2.94 3.15 2.95 2.89 2.96 2.89 2.55
Quick Ratio
2.31 2.12 1.74 1.86 2.32 2.04 2.12 2.08 2.10 1.82
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
1,092 798 514 608 577 160 643 247 472 113
Operating Cash Flow to CapEx
740.02% 711.16% 322.68% 329.13% 618.93% 594.50% 596.49% 474.28% 781.62% 385.94%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.69 0.64 0.62 0.67 0.63 0.65 0.65 0.66 0.68 0.61
Accounts Receivable Turnover
7.00 7.10 6.48 5.89 5.38 5.89 5.77 5.58 5.75 5.12
Inventory Turnover
1.84 1.55 1.50 2.10 2.25 2.32 2.53 2.64 2.75 2.78
Fixed Asset Turnover
5.12 4.41 4.39 5.18 5.28 5.40 5.32 5.79 6.56 6.43
Accounts Payable Turnover
8.48 9.54 7.05 6.65 6.82 6.83 7.30 7.74 7.73 7.81
Days Sales Outstanding (DSO)
52.13 51.39 56.33 62.00 67.84 62.00 63.28 65.36 63.43 71.29
Days Inventory Outstanding (DIO)
197.91 234.85 243.75 173.55 162.14 157.49 144.04 138.22 132.49 131.16
Days Payable Outstanding (DPO)
43.03 38.27 51.76 54.86 53.48 53.40 49.99 47.16 47.24 46.71
Cash Conversion Cycle (CCC)
207.01 247.96 248.32 180.69 176.50 166.09 157.33 156.42 148.68 155.74
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
4,294 4,059 3,683 3,257 2,773 2,401 1,649 1,635 1,187 1,146
Invested Capital Turnover
1.51 1.35 1.40 1.65 1.62 1.86 2.04 2.21 2.61 2.87
Increase / (Decrease) in Invested Capital
235 376 426 485 371 753 14 448 41 329
Enterprise Value (EV)
36,503 21,080 14,259 21,089 18,251 14,952 10,907,726 7,699 7,844,347 3,612
Market Capitalization
40,202 24,173 16,920 24,204 21,228 17,561 10,910,441 10,012 7,846,674 6,003
Book Value per Share
$40.79 $36.65 $32.37 $31.79 $28.84 $24.20 $0.02 $19.45 $0.02 $16.08
Tangible Book Value per Share
$36.85 $32.52 $28.48 $27.68 $24.51 $20.87 $0.02 $17.38 $0.02 $14.90
Total Capital
7,848 7,012 6,204 6,114 5,516 4,793 4,163 3,852 3,418 3,345
Total Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
-3,699 -3,093 -2,661 -3,115 -2,977 -2,610 -2,715 -2,313 -2,327 -2,392
Capital Expenditures (CapEx)
194 194 244 308 183 118 154 139 90 73
Debt-free, Cash-free Net Working Capital (DFCFNWC)
1,328 1,185 1,291 968 659 618 359 501 366 297
Debt-free Net Working Capital (DFNWC)
3,828 3,153 2,744 2,814 2,505 2,022 1,744 1,554 1,480 1,345
Net Working Capital (NWC)
3,828 3,153 2,744 2,814 2,505 2,022 1,744 1,554 1,480 1,345
Net Nonoperating Expense (NNE)
-84 -116 -34 11 -44 -40 -38 -14 -4.67 -14
Net Nonoperating Obligations (NNO)
-3,555 -2,953 -2,521 -2,857 -2,744 -2,392 -2,514 -2,218 -2,231 -2,199
Total Depreciation and Amortization (D&A)
180 178 164 155 127 106 96 86 86 78
Debt-free, Cash-free Net Working Capital to Revenue
21.08% 22.67% 26.56% 19.42% 15.74% 16.44% 10.73% 16.04% 12.03% 10.53%
Debt-free Net Working Capital to Revenue
60.80% 60.32% 56.45% 56.47% 59.84% 53.81% 52.10% 49.78% 48.60% 47.69%
Net Working Capital to Revenue
60.80% 60.32% 56.45% 56.47% 59.84% 53.81% 52.10% 49.78% 48.60% 47.69%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$7.35 $6.74 $5.06 $5.63 $5.19 $5.01 $3.68 $3.70 $2.71 $2.39
Adjusted Weighted Average Basic Shares Outstanding
192.40M 191.78M 191.36M 192.79M 191.57M 190.69M 198.08M 198.08M 198.08M 208.08M
Adjusted Diluted Earnings per Share
$7.30 $6.71 $5.04 $5.61 $5.17 $4.99 $3.66 $3.68 $2.70 $2.39
Adjusted Weighted Average Diluted Shares Outstanding
192.40M 191.78M 191.36M 192.79M 191.57M 190.69M 198.08M 198.08M 198.08M 208.08M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
192.40M 191.78M 191.36M 192.79M 191.57M 190.69M 198.08M 198.08M 198.08M 208.08M
Normalized Net Operating Profit after Tax (NOPAT)
1,327 765 940 1,093 948 912 656 479 513 442
Normalized NOPAT Margin
21.07% 14.62% 19.33% 21.93% 22.65% 24.28% 19.60% 15.33% 16.84% 15.67%
Pre Tax Income Margin
26.92% 22.96% 21.91% 24.22% 26.36% 26.27% 24.59% 22.33% 20.97% 20.11%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
40.55% 43.33% 69.75% 45.41% 45.41% 43.81% 42.67% 54.02% 92.99% 82.88%
Augmented Payout Ratio
44.97% 43.33% 69.75% 45.41% 45.41% 43.81% 42.67% 64.53% 112.42% 111.68%

Quarterly Metrics And Ratios for Garmin

This table displays calculated financial ratios and metrics derived from Garmin's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/29/2025 12/28/2024 9/28/2024 6/29/2024 3/30/2024 12/30/2023 9/30/2023 7/1/2023 4/1/2023 12/31/2022 9/24/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
11.11% 22.94% 24.15% 14.07% 20.41% 13.48% 12.02% 6.44% -2.15% -6.12% -4.32%
EBITDA Growth
16.73% 31.26% 64.81% 11.54% 39.13% 13.57% 22.10% 9.38% -7.51% 4.13% -18.95%
EBIT Growth
18.73% 34.86% 76.09% 13.28% 46.70% 14.14% 23.82% 9.89% -9.83% 4.55% -21.86%
NOPAT Growth
13.05% -9.58% 44.34% 8.43% 40.12% 102.86% 8.57% -4.24% -12.35% -18.64% -13.82%
Net Income Growth
20.59% -19.63% 55.15% 4.41% 36.39% 84.85% 22.00% 11.66% -4.38% 2.49% -18.60%
EPS Growth
20.28% -20.57% 54.48% 4.00% 36.19% 84.31% 22.94% 12.78% -3.67% 2.68% -18.66%
Operating Cash Flow Growth
-3.33% 3.85% -27.83% -6.72% 55.91% 26.39% 131.91% 242.80% 50.41% 118.19% -37.20%
Free Cash Flow Firm Growth
-393.84% 88.92% -9,181.37% -61.62% 116.21% 156.46% 99.84% 117.41% 64.67% 2.45% -7,999.83%
Invested Capital Growth
9.26% 5.79% 10.72% 6.80% 6.10% 10.20% 6.92% 5.44% 10.27% 13.07% 19.92%
Revenue Q/Q Growth
-15.77% 14.91% 5.27% 9.05% -6.80% 16.04% -3.28% 15.11% -12.17% 14.55% -8.09%
EBITDA Q/Q Growth
-23.94% 6.11% 31.74% 9.79% -14.47% 33.23% -10.84% 36.95% -30.19% 43.23% -20.13%
EBIT Q/Q Growth
-26.18% 6.20% 35.86% 11.48% -16.15% 38.66% -12.60% 44.37% -34.76% 50.42% -22.43%
NOPAT Q/Q Growth
-34.66% 21.34% 27.80% 11.58% -47.74% 93.69% -3.99% 44.19% -24.34% 3.66% -15.32%
Net Income Q/Q Growth
-23.63% 9.18% 32.76% 8.94% -49.10% 110.75% -10.66% 42.31% -31.01% 39.09% -18.24%
EPS Q/Q Growth
-23.21% 8.21% 32.69% 9.09% -49.29% 110.45% -10.67% 42.86% -31.37% 40.37% -18.05%
Operating Cash Flow Q/Q Growth
-13.04% 87.59% 1.03% -41.35% -6.58% 30.37% 30.58% -1.97% -24.26% 139.21% 93.03%
Free Cash Flow Firm Q/Q Growth
-138.88% 472.33% -316.68% -6.32% -75.00% 18,392.08% -100.90% 139.58% 12.96% 49.01% 0.87%
Invested Capital Q/Q Growth
-0.35% 0.69% 6.09% 2.64% -3.52% 5.39% 2.34% 1.97% 0.20% 2.26% 0.92%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
57.62% 59.25% 60.00% 57.27% 58.06% 58.29% 57.03% 57.50% 56.89% 57.03% 58.79%
EBITDA Margin
26.37% 29.21% 31.63% 25.27% 25.10% 27.35% 23.83% 25.85% 21.73% 27.33% 21.86%
Operating Margin
21.68% 28.32% 27.58% 22.70% 21.60% 22.96% 21.16% 21.53% 17.17% 20.45% 20.99%
EBIT Margin
23.36% 26.65% 28.84% 22.35% 21.86% 24.30% 20.33% 22.50% 17.94% 24.16% 18.40%
Profit (Net Income) Margin
21.68% 23.91% 25.16% 19.95% 19.97% 36.57% 20.14% 21.80% 17.63% 22.45% 18.49%
Tax Burden Percent
85.53% 84.42% 82.08% 82.15% 84.38% 141.53% 92.01% 91.13% 91.23% 88.90% 95.72%
Interest Burden Percent
108.51% 106.25% 106.30% 108.70% 108.29% 106.34% 107.62% 106.31% 107.72% 104.53% 104.99%
Effective Tax Rate
14.47% 15.58% 17.92% 17.85% 15.62% -41.53% 7.99% 8.87% 8.77% 11.10% 4.28%
Return on Invested Capital (ROIC)
29.19% 36.04% 33.24% 27.07% 26.18% 43.90% 26.40% 26.30% 21.52% 25.47% 30.09%
ROIC Less NNEP Spread (ROIC-NNEP)
27.86% 36.04% 31.84% 26.33% 25.38% 41.70% 26.05% 25.07% 20.72% 23.39% 30.80%
Return on Net Nonoperating Assets (RNNOA)
-13.06% -15.78% -13.19% -10.72% -11.24% -17.27% -10.17% -9.74% -9.19% -10.21% -13.46%
Return on Equity (ROE)
16.13% 20.26% 20.04% 16.35% 14.94% 26.63% 16.23% 16.57% 12.33% 15.25% 16.63%
Cash Return on Invested Capital (CROIC)
24.35% 26.15% 23.78% 26.06% 26.85% 20.61% 18.11% 19.33% 16.22% 14.81% 12.04%
Operating Return on Assets (OROA)
16.36% 18.41% 19.85% 15.07% 14.60% 15.55% 13.18% 14.10% 11.25% 15.07% 11.97%
Return on Assets (ROA)
15.18% 16.51% 17.32% 13.45% 13.34% 23.41% 13.05% 13.66% 11.05% 14.00% 12.03%
Return on Common Equity (ROCE)
16.13% 20.26% 20.04% 16.35% 14.94% 26.63% 16.23% 16.57% 12.33% 15.25% 16.63%
Return on Equity Simple (ROE_SIMPLE)
17.95% 0.00% 20.22% 19.64% 18.81% 0.00% 16.39% 16.24% 15.06% 0.00% 16.44%
Net Operating Profit after Tax (NOPAT)
285 436 359 281 252 482 249 259 180 238 229
NOPAT Margin
18.54% 23.91% 22.64% 18.65% 18.22% 32.50% 19.47% 19.62% 15.66% 18.18% 20.09%
Net Nonoperating Expense Percent (NNEP)
1.33% 0.00% 1.39% 0.74% 0.80% 2.20% 0.35% 1.24% 0.81% 2.07% -0.71%
Return On Investment Capital (ROIC_SIMPLE)
3.48% 5.55% - - - 6.87% - - - 3.83% -
Cost of Revenue to Revenue
42.38% 40.75% 40.00% 42.73% 41.94% 41.71% 42.97% 42.50% 43.11% 42.97% 41.21%
SG&A Expenses to Revenue
18.47% 16.74% 16.71% 18.43% 18.90% 19.32% 18.52% 18.98% 20.42% 28.51% 16.62%
R&D to Revenue
17.47% 14.20% 15.71% 16.14% 17.55% 16.00% 17.34% 16.99% 19.30% 16.51% 18.30%
Operating Expenses to Revenue
35.94% 30.94% 32.42% 34.57% 36.46% 35.33% 35.87% 35.97% 39.72% 36.57% 37.80%
Earnings before Interest and Taxes (EBIT)
359 486 457 337 302 360 260 297 206 316 210
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
405 532 502 381 347 406 304 341 249 357 249
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
5.03 5.12 4.46 4.47 3.91 3.45 3.11 3.19 2.93 2.73 2.60
Price to Tangible Book Value (P/TBV)
5.55 5.67 4.97 5.02 4.38 3.88 3.55 3.62 3.31 3.10 2.96
Price to Revenue (P/Rev)
6.37 6.38 5.61 5.54 5.19 4.62 3.91 3.97 3.88 3.48 3.09
Price to Earnings (P/E)
28.00 28.48 22.03 22.74 20.80 18.74 18.98 19.62 19.45 17.38 15.80
Dividend Yield
1.40% 1.42% 1.70% 1.80% 1.97% 2.31% 2.83% 2.86% 2.98% 3.24% 2.69%
Earnings Yield
3.57% 3.51% 4.54% 4.40% 4.81% 5.33% 5.27% 5.10% 5.14% 5.75% 6.33%
Enterprise Value to Invested Capital (EV/IC)
8.70 8.50 7.01 6.94 6.39 5.19 4.41 4.45 4.35 3.87 3.49
Enterprise Value to Revenue (EV/Rev)
5.77 5.80 5.02 4.94 4.58 4.03 3.36 3.40 3.32 2.93 2.54
Enterprise Value to EBITDA (EV/EBITDA)
20.45 20.72 18.30 19.39 17.89 16.21 13.56 13.98 13.74 12.00 10.71
Enterprise Value to EBIT (EV/EBIT)
22.71 23.08 20.54 22.15 20.52 18.77 15.74 16.27 16.01 13.92 12.44
Enterprise Value to NOPAT (EV/NOPAT)
27.35 27.51 21.71 21.95 20.08 17.97 18.36 18.53 17.55 15.18 12.62
Enterprise Value to Operating Cash Flow (EV/OCF)
26.24 25.48 21.15 18.41 16.33 15.32 13.27 15.55 18.19 18.09 21.36
Enterprise Value to Free Cash Flow (EV/FCFF)
37.29 33.42 31.00 27.49 24.50 26.42 25.15 23.61 28.11 27.75 31.62
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage
-0.47 -0.44 -0.41 -0.41 -0.44 -0.41 -0.39 -0.39 -0.44 -0.44 -0.44
Leverage Ratio
1.19 1.23 1.25 1.28 1.20 1.24 1.28 1.31 1.22 1.27 1.30
Compound Leverage Factor
1.30 1.30 1.33 1.39 1.30 1.31 1.37 1.39 1.31 1.32 1.36
Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score
17.53 15.70 13.00 11.99 14.36 11.16 9.33 8.65 10.59 8.70 7.19
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
4.10 3.54 3.30 2.89 4.04 3.41 3.13 2.84 3.93 3.26 2.75
Quick Ratio
2.60 2.31 2.12 1.87 2.59 2.12 1.82 1.65 2.14 1.74 1.46
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-78 201 -54 25 27 106 -0.58 65 -164 -188 -369
Operating Cash Flow to CapEx
1,050.34% 571.29% 669.25% 687.14% 1,312.42% 957.78% 785.00% 521.02% 596.42% 621.09% 307.57%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.70 0.69 0.69 0.67 0.67 0.64 0.65 0.63 0.63 0.62 0.65
Accounts Receivable Turnover
8.71 7.00 7.25 7.41 8.37 7.10 7.42 6.94 7.99 6.48 7.72
Inventory Turnover
1.85 1.84 1.68 1.76 1.66 1.55 1.46 1.46 1.45 1.50 1.60
Fixed Asset Turnover
5.29 5.12 4.95 4.73 4.61 4.41 4.42 4.28 4.28 4.39 4.77
Accounts Payable Turnover
9.09 8.48 7.71 8.16 10.22 9.54 8.07 7.28 8.03 7.05 7.19
Days Sales Outstanding (DSO)
41.93 52.13 50.34 49.28 43.61 51.39 49.21 52.57 45.69 56.33 47.25
Days Inventory Outstanding (DIO)
197.04 197.91 217.09 207.79 219.90 234.85 250.47 249.81 252.40 243.75 228.75
Days Payable Outstanding (DPO)
40.16 43.03 47.32 44.72 35.73 38.27 45.21 50.15 45.47 51.76 50.76
Cash Conversion Cycle (CCC)
198.80 207.01 220.11 212.35 227.78 247.96 254.46 252.22 252.61 248.32 225.25
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
4,279 4,294 4,264 4,019 3,916 4,059 3,851 3,763 3,691 3,683 3,602
Invested Capital Turnover
1.57 1.51 1.47 1.45 1.44 1.35 1.36 1.34 1.37 1.40 1.50
Increase / (Decrease) in Invested Capital
363 235 413 256 225 376 249 194 344 426 598
Enterprise Value (EV)
37,208 36,503 29,913 27,875 25,019 21,080 16,974 16,730 16,042 14,259 12,572
Market Capitalization
41,109 40,202 33,443 31,293 28,350 24,173 19,751 19,510 18,756 16,920 15,269
Book Value per Share
$42.51 $40.79 $39.05 $36.47 $37.76 $36.65 $33.16 $32.01 $33.47 $32.37 $30.48
Tangible Book Value per Share
$38.53 $36.85 $34.99 $32.47 $33.71 $32.52 $29.09 $28.15 $29.58 $28.48 $26.74
Total Capital
8,179 7,848 7,507 7,005 7,246 7,012 6,349 6,124 6,405 6,204 5,878
Total Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
-3,901 -3,699 -3,531 -3,418 -3,330 -3,093 -2,778 -2,779 -2,714 -2,661 -2,697
Capital Expenditures (CapEx)
40 85 39 37 33 49 46 53 47 59 50
Debt-free, Cash-free Net Working Capital (DFCFNWC)
1,441 1,328 1,207 847 1,204 1,185 1,133 982 1,405 1,291 1,064
Debt-free Net Working Capital (DFNWC)
4,115 3,828 3,631 3,073 3,400 3,153 2,829 2,661 2,956 2,744 2,525
Net Working Capital (NWC)
4,115 3,828 3,631 3,073 3,400 3,153 2,829 2,661 2,956 2,744 2,525
Net Nonoperating Expense (NNE)
-48 -0.05 -40 -20 -24 -60 -8.47 -29 -23 -56 18
Net Nonoperating Obligations (NNO)
-3,901 -3,555 -3,242 -2,986 -3,330 -2,953 -2,498 -2,361 -2,714 -2,521 -2,276
Total Depreciation and Amortization (D&A)
46 47 44 44 45 45 45 44 43 41 39
Debt-free, Cash-free Net Working Capital to Revenue
22.34% 21.08% 20.26% 14.99% 22.03% 22.67% 22.43% 19.98% 29.07% 26.56% 21.52%
Debt-free Net Working Capital to Revenue
63.80% 60.80% 60.95% 54.40% 62.24% 60.32% 56.00% 54.15% 61.13% 56.45% 51.06%
Net Working Capital to Revenue
63.80% 60.80% 60.95% 54.40% 62.24% 60.32% 56.00% 54.15% 61.13% 56.45% 51.06%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.73 $2.26 $2.08 $1.57 $1.44 $2.83 $1.34 $1.51 $1.06 $1.53 $1.09
Adjusted Weighted Average Basic Shares Outstanding
192.54M 192.40M 192.20M 192.07M 191.89M 191.78M 191.44M 191.29M 191.50M 191.36M 192.67M
Adjusted Diluted Earnings per Share
$1.72 $2.24 $2.07 $1.56 $1.43 $2.82 $1.34 $1.50 $1.05 $1.53 $1.09
Adjusted Weighted Average Diluted Shares Outstanding
193.72M 192.40M 193.17M 192.90M 192.70M 191.78M 191.87M 191.60M 191.89M 191.36M 193.11M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
192.54M 192.40M 192.02M 192.21M 192.08M 191.78M 191.33M 191.45M 191.29M 191.36M 191.66M
Normalized Net Operating Profit after Tax (NOPAT)
285 436 359 281 252 238 249 259 180 238 229
Normalized NOPAT Margin
18.54% 23.91% 22.64% 18.65% 18.22% 16.08% 19.47% 19.62% 15.66% 18.18% 20.09%
Pre Tax Income Margin
25.35% 28.32% 30.66% 24.29% 23.67% 25.84% 21.88% 23.92% 19.33% 25.25% 19.31%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
39.28% 40.55% 37.42% 40.96% 41.01% 43.33% 67.18% 70.42% 71.56% 69.75% 54.63%
Augmented Payout Ratio
45.37% 44.97% 37.42% 40.96% 41.01% 43.33% 67.18% 70.42% 71.56% 69.75% 54.63%

Frequently Asked Questions About Garmin's Financials

When does Garmin's fiscal year end?

According to the most recent income statement we have on file, Garmin's financial year ends in December. Their financial year 2024 ended on December 28, 2024.

How has Garmin's net income changed over the last 9 years?

Garmin's net income appears to be on an upward trend, with a most recent value of $1.41 billion in 2024, rising from $456.23 million in 2015. The previous period was $1.29 billion in 2023. See Garmin's forecast for analyst expectations on what’s next for the company.

What is Garmin's operating income?
Garmin's total operating income in 2024 was $1.59 billion, based on the following breakdown:
  • Total Gross Profit: $3.70 billion
  • Total Operating Expenses: $2.10 billion
How has Garmin revenue changed over the last 9 years?

Over the last 9 years, Garmin's total revenue changed from $2.82 billion in 2015 to $6.30 billion in 2024, a change of 123.3%.

How much debt does Garmin have?

Garmin's total liabilities were at $1.78 billion at the end of 2024, a 12.0% increase from 2023, and a 54.4% increase since 2015.

How much cash does Garmin have?

In the past 9 years, Garmin's cash and equivalents has ranged from $833.07 million in 2015 to $2.08 billion in 2024, and is currently $2.08 billion as of their latest financial filing in 2024.

How has Garmin's book value per share changed over the last 9 years?

Over the last 9 years, Garmin's book value per share changed from 16.08 in 2015 to 40.79 in 2024, a change of 153.7%.



This page (NYSE:GRMN) was last updated on 5/30/2025 by MarketBeat.com Staff
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