Garmin Ltd (GRMN)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a diverse range of GPS-enabled products and navigation, communications, sensor-based, and information products and services worldwide. It offers running; cycling products; smartwatch devices; scales and monitors; and sports timing and performance analysis; Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, which enables third parties to create applications that run on Garmin devices. It also provides adventure watches; outdoor handhelds and satellite communicators; golf devices; consumer automotive; dog devices; InReach and Gramin response; and dive devices. In addition, it designs, manufactures, and markets various aircraft avionics solutions, including integrated flight decks, electronic flight displays and instrumentation, navigation and communication products, automatic flight control systems and safety-enhancing technologies, audio control systems, engine indication systems, traffic awareness and avoidance solutions, ADS-B and transponders, weather information and avoidance solutions, datalink and connectivity solutions, and portable GPS navigators and wearables, as well as service products to the aviation market. Further, it offers chartplotters and multi-function displays, cartography, fishfinders, sonar, autopilot systems, radars, compliant instrument displays and sensors, VHF communication radios, handhelds and wearable devices, sailing, audio, digital switching, trolling motors, and lighting; and domain controllers and infotainment units, as well as software, map database, camera, wearable, and automotive solutions. The company sells its products through independent retailers, dealers, distributors, installation and repair shops, OEM, and online webshop. Garmin Ltd. was founded in 1989 and is based in Schaffhausen, Switzerland.

Symbol
GRMN
Exchange
NYSE
Sector
Technology
Industry
Scientific & Technical Instruments
Market cap
$54.24B
52 week range
186.67 - 314.28

Valuation

Share price
$281.16 (close of 2026-10-02)
P/E (TTM)
31.17x
Price to book
5.85x
Price to free cash flow
37.36x
Enterprise value
$52.11B
Book value per share
$48.06

Price performance

PeriodChange
1 day-0.46%
5 days-4.41%
1 month+1.85%
3 months+17.14%
6 months+18.31%
Year to date+38.60%
1 year+9.09%
3 years+171.63%
5 years+81.26%
10 years+484.41%
All time+2711.60%

Members of Congress who disclosed GRMN trades

Tommy Tuberville

Super investors holding GRMN

Ken Griffin (Citadel)

Profitability and growth

Return on equity
18.54%
Return on invested capital
22.24%
Return on assets
15.13%
Return on capital employed
20.23%
Gross margin
58.74%
Net margin
22.96%
EBITDA margin
28.00%
Revenue growth
15.06%
Net income growth
17.89%
Free cash flow growth
10.01%

Cash flow and balance sheet

Free cash flow yield (TTM)
2.68%
Current ratio
4.36x
Net debt to EBITDA
-0.98x

Latest reported year

Period end
2025-12-27
Fiscal year
2025
Revenue
$7.25B
Cost of revenue
$2.99B
Gross profit
$4.26B
EBITDA
$2.03B
Net income
$1.66B
Earnings per share
$8.65
Research and development
$1.13B
Shares outstanding
192.47M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-27$7.25B$4.26B$1.66B$8.65
2024-12-28$6.30B$3.70B$1.41B$7.35
2023-12-30$5.23B$3.00B$1.29B$6.74
2022-12-31$4.86B$2.81B$973.59M$5.06
2021-12-25$4.98B$2.89B$1.08B$5.63
2020-12-26$4.19B$2.48B$992.32M$5.19
2019-12-28$3.76B$2.23B$952.49M$5.01
2018-12-29$3.35B$1.98B$694.08M$3.68
2017-12-30$3.12B$1.80B$709.01M$3.77
2016-12-31$3.05B$1.69B$517.72M$2.74

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-2758.74%22.96%18.54%22.24%
2024-12-2858.70%22.41%17.98%22.19%
2023-12-3057.48%24.67%18.39%20.11%
2022-12-3157.75%20.03%15.69%18.58%
2021-12-2558.01%21.72%17.70%23.35%
2020-12-2659.27%23.70%17.99%22.82%
2019-12-2859.45%25.35%19.87%23.87%
2018-12-2959.14%20.73%16.67%23.37%
2017-12-3057.60%22.71%18.40%24.42%
2016-12-3155.44%17.00%14.99%21.88%

Cash and debt by year

Period endCash
2025-12-27$2.28B
2024-12-28$2.08B
2023-12-30$1.69B
2022-12-31$1.28B
2021-12-25$1.50B
2020-12-26$1.46B
2019-12-28$1.03B
2018-12-29$1.38B
2017-12-30$1.05B
2016-12-31$1.11B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-27$1.36B$166.00M
2024-12-28$1.24B$137.16M
2023-12-30$1.18B$101.42M
2022-12-31$543.97M$76.80M
2021-12-25$704.78M$92.52M
2020-12-26$949.87M$80.89M
2019-12-28$580.52M$63.40M
2018-12-29$763.76M$56.39M
2017-12-30$521.15M$44.73M
2016-12-31$614.72M$41.25M

Dividend history

Most recent payment
2026-09-11
Paid in the last twelve months
$3.90
Payment dateDividend per share
2026-09-11$1.05
2026-06-15$1.05
2026-03-13$0.90
2025-12-12$0.90
2025-09-12$0.90
2025-06-16$0.90
2025-03-14$0.75
2024-12-13$0.75

Investor relations

Next earnings report

Next confirmed report
2026-10-28
Consensus EPS estimate
$2.38

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-29Jun/2026$2.27
2026-04-29Mar/2026$1.84
2026-02-18Dec/2025$2.39
2025-10-29Sep/2025$1.98
2025-07-30Jun/2025$1.96
2025-04-30Mar/2025$1.65
2025-02-19Dec/2024$1.94
2024-10-30Sep/2024$1.46

Filings and sources

Company website
garmin.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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