Garmin Ltd

  • Earnings Score
  • Moat Score
  • Market Cap $43.15B
  • PE 31
  • Debt -
  • Cash $2.08B
  • EV -
  • FCF $1.24B

Earnings

loading chart...

Sales & Net Margins

loading chart...
Earnings$1.41B
EBIT$1.70B
ROE18%
ROA18%
FCF$1.24B
Equity$7.85B
Growth Stability94%
PE30.57
PEG15.24
PB5.5
P/FCF34.83
P/S6.85
Price/Cash0.05
Net Margins22%
Gross Margins59%
Op. Margins27%
Earnings CAGR-2%
Sales Growth YoY32%
Sales Growth QoQ15%
Sales CAGR-6%
FCF CAGR-2%
Equity CAGR6%
Earnings Stability-0.03
Earnings Growth YoY58%
Earnings Growth QoQ9%
Earnings CAGR 5Y2%
Sales CAGR 5Y-11%
FCF CAGR 5Y2%
Equity CAGR 5Y6%
Earnings CAGR 3Y-17%
Sales CAGR 3Y-17%
FCF CAGR 3Y-10%
Equity CAGR 3Y9%
Market Cap$43.15B
Revenue$6.30B
Dividend Yield1%
Payout Ratio41%
Assets$9.63B
Cash$2.08B
Shares Outstanding192.03M
Earnings Score6%
Moat Score96%
Working Capital3.83B
Current Ratio3.54
Gross Profit$3.70B
Shares Growth 3y0%
Equity Growth QoQ5%
Equity Growth YoY8%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...
Garmin produces GPS-enabled hardware and software for five verticals: fitness, outdoors, auto, aviation, and marine. The company relies on licensing mapping data to enable its hardware specialized for often niche activities like scuba diving or sailing. Garmin operates in 100 countries and sells its products via distributors as well as relationships with original equipment manufacturers.

SEC Filings

Direct access to Garmin Ltd (GRMN) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

  • 2024
    • 10-K Dec 28
    • 10-Q Sep 28
    • 10-Q Jun 29
    • 10-Q Mar 30
  • 2023
    • 10-K Dec 30
    • 10-Q Sep 30
    • 10-Q Jul 01
    • 10-Q Apr 01
  • 2022
    • 10-K Dec 31
    • 10-Q Sep 24
    • 10-Q Jun 25
    • 10-Q Mar 26

Sector Comparison

How does Garmin Ltd compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Garmin Ltd compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -2%
Stability -3%
loading chart...

Garmin Ltd Discounted Cash Flow

Fully customizable DCF calculator online for Garmin Ltd.

= $11B
012345678910TV
fcf$1.2B$1.2B$1.2B$1.2B$1.1B$1.1B$1.1B$1B$1B$994M$970M$9.7B
DCF$1.1B$975M$865M$767M$681M$604M$536M$475M$422M$374M$3.7B
Value$11B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12/201512/201612/201712/201812/201906/202012/202006/202112/202112/202206/202312/202306/202412/2024TTM
Net Margins16%17%22%21%25%-24%-22%20%-25%-22%22%
ROA-14%14%15%16%-16%-16%14%-14%-18%18%
ROE-15%18%17%20%-18%-18%16%-18%-18%18%

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12/201512/201612/201712/201812/201906/202012/202006/202112/202112/202206/202312/202306/202412/2024TTM
Debt over FCF---------------
Debt over Equity---------------
Growth Stability---100%100%-100%-100%94%-100%-100%94%

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12/201512/201612/201712/201812/201906/202012/202006/202112/202112/202206/202312/202306/202412/2024CAGR 5Y
Revenue YoY growth-8%2%7%12%-----2%-----11%
Earnings YoY growth-12%36%-0%37%-----10%----2%
Equity YoY growth-2%11%9%15%----1%----6%
FCF YoY growth-208%-15%47%-24%-----23%----2%