GRMN

Garmin
D

GRMN

Arincen83/100B

If you had invested in Garmin ago, it would be worth $7,826 today, against $4,128 in SPY and $6,186 in QQQ.

ArincenArincen ScoreBeta

83/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Garmin key facts

Style
Growth stock · 6.0/10Growth 6.0 · Value 4.3 · Dividend 3.9
Day range
279.82 – 287.39
52-week range
186.67 – 314.28
Market capitalization
55.07B USD
P/E
27.29
PEG ratio
1.82
EPS
10.47
Div Yield
1.47%
EPS growth forecast (FY2026)
+25.5%
Volume
37,041
Beta
0.83
Sector
Technology
Industry
Hardware, Equipment & Parts
CEO
Clifton Albert Pemble
Employees
23K
Website
garmin.com
IPO date
8 Dec 2000

Garmin earnings

Next earnings · Q4 FY2026
EPS estimate
3.12 USD
Revenue estimate
2.38B USD
Last quarter · Q3 FY2026
EPS2.76Beat +14.5%Revenue1.99BMissed -0.1%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q1 FY20272.23——+7.42%2.02B——+15.32%
Q4 FY20263.12——+11.83%2.38B——+11.88%
Q3 FY20262.412.76+14.52%+38.69%1.99B1.99B-0.13%+12.15%
Q2 FY20262.302.81+22.17%+29.49%1.93B2.02B+4.99%+11.44%
Q1 FY20261.842.08+13.04%+29.19%1.72B1.75B+1.71%+14.23%
Q4 FY20252.402.79+16.25%+15.77%2.02B2.12B+5.28%+16.59%
Q3 FY20251.991.990.00%0.00%1.78B1.77B-0.61%+11.66%
Q2 FY20251.902.17+14.21%+37.34%1.70B1.81B+6.69%+20.44%

Garmin analyst forecast

12-month price target
320.40 USD
+12.12%

Analysts' 1-year price targets range from 277.00 to 370.00, with an average of 320.40.

Past year
1-year forecast
Strong sellStrong buy
Hold
5 ratings
Strong buy
1
Buy
1
Hold
3
Sell
0
Strong sell
0

12-month price target

Highest target370.00
Average target320.40
Lowest target277.00
Current price285.78

Garmin valuation

Price to earnings ratio (TTM)
27.29
Forward P/E (FY2026)
26.60
Price to sales (TTM)
6.98
Price to book
5.77
EV / EBITDA (TTM)
20.23

Capital structure

Market capitalization
55.07B USD
+
Total debt
173.49M USD
−
Cash and short-term investments
2.34B USD
=
Enterprise value
52.90B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)21.88————
FY2027 (est.)24.8721.88———
FY2026 (est.)26.6024.87———
Now (TTM)27.2925.096.985.7720.23
FY202523.7619.155.464.4117.01
FY202428.4825.546.395.1320.43
FY202319.0718.194.713.5116.71
FY202218.2417.473.662.8613.51
FY202124.1927.165.254.2818.17

Garmin against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Keysight Technologies, Corning, Coherent, Teledyne Technologies, Flex, and Jabil, the US Hardware, Equipment & Parts companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median27.3
    14.932.9
  • Gross marginHighest in 5 years58.7%
    57.5%58.7%
    Against its peers: 2 of 7Peers' median 36.4%
  • Operating marginHighest in 5 years25.9%
    20.9%25.9%
    Against its peers: 1 of 7Peers' median 13.8%
  • Net marginAbove its median23.0%
    20.0%24.7%
    Against its peers: 1 of 7Peers' median 10.8%
  • Return on equityHighest in 5 years18.5%
    15.7%18.5%
    Against its peers: 2 of 7Peers' median 14.0%
  • Free cash flow marginAt its median18.8%
    11.2%22.6%
    Against its peers: 2 of 7Peers' median 6.4%
  • Revenue growthAt its median15.1%
    -2.5%20.4%
    Against its peers: 4 of 7Peers' median 13.6%
  • EPS growthAbove its median17.7%
    -10.2%33.1%
    Against its peers: 4 of 6Peers' median 39.0%
  • Debt to EBITDAAbove its median0.09×
    0.05×0.09×
    Against its peers: 1 of 7Peers' median 2.17×
  • Current ratioHighest in 5 years3.63
    2.943.63
    Against its peers: 1 of 7Peers' median 1.62

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Garmin growth and profitability

Revenue (TTM)
7.89B USD
Net income (TTM)
2.02B USD
Gross margin
61.12%
Operating margin
28.82%
Net margin
25.58%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY20257.25B+15.06%1.66B+17.89%58.74%25.89%22.96%2.20B+17.50%
FY20246.30B+20.44%1.41B+9.44%58.70%25.31%22.41%1.88B+36.08%
FY20235.23B+7.57%1.29B+32.46%57.48%20.89%24.67%1.38B+12.13%
FY20224.86B-2.46%973.59M-10.04%57.75%21.15%20.03%1.23B-9.75%
FY20214.98B+19.02%1.08B+9.06%58.01%24.46%21.72%1.36B+15.30%

Garmin revenue breakdown

By product

FY2025
Fitness: 32.5%Outdoor: 28.3%Marine: 16.3%Aviation: 13.6%Automotive Mobile: 9.2%32.5%Fitness28.3%Outdoor16.3%Marine13.6%Aviation9.2%Automotive Mobile
SegmentRevenueShare of revenueChange on the year
Fitness2.36B32.5%+32.8%
Outdoor2.05B28.3%+4.7%
Marine1.18B16.3%+10.2%
Aviation987.16M13.6%+12.6%
Automotive Mobile664.68M9.2%+8.9%

By region

FY2025
Americas: 47.7%EMEA: 37.8%Asia Pacific: 14.5%47.7%Americas37.8%EMEA14.5%Asia Pacific
RegionRevenueShare of revenueChange on the year
Americas3.45B47.7%+13.8%
EMEA2.74B37.8%+18.2%
Asia Pacific1.05B14.5%+11.5%

How Garmin makes its money

Fitness2.36B 32.5%
Outdoor2.05B 28.3%
Marine1.18B 16.3%
Aviation987.16M 13.6%
Automotive Mobile664.68M 9.2%
Revenue7.25B 100.0%
Cost of revenue2.99B 41.3%
Gross profit4.26B 58.7%
Research and development1.13B 15.5%
Selling and administration1.25B 17.3%
Operating income1.88B 25.9%
Tax350.65M 4.8%
Net income1.66B 23.0%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Garmin dividends

Annual dividend
4.20 USD
Dividend yield (indicated)
1.47%
Payout ratio
57.31%
Years of dividend growth
9
Frequency
Quarterly
Last payment
1.05 USD
Last ex-dividend date
12 Mar 2027
Last payment date
26 Mar 2027

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share3.452.982.922.862.622.402.242.102.042.04

Garmin financial health

Cash and short-term investments
2.34B USD
Total debt
173.49M USD
Net cash
2.17B USD
Free cash flow (TTM)
1.40B USD
Current ratio
3.05
Debt to equity
0.02
Piotroski score
5 / 9
Altman Z-score
16.20

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20252.74B195.99M1.36B
FY20242.50B162.79M1.24B
FY20231.97B113.04M1.18B
FY20221.45B114.54M542.07M
FY20211.85B70.04M702.84M

Garmin ownership

Institutions
57.65%
Institutional holders
1,039 (-5)
Free float
85.29%

Who owns the shares

Institutions 57.6% Others 42.4%
As of 30 Jun 2026

Shares free to trade

Free float 164.34M shares ·85.3% Closely held 28.36M shares ·14.7%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 2026000.00497.00
Q3 20260121.95M2.31M
Q2 2026081.59M1.93M
Q1 20260201.77M1.76M

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025192.47M193.62M+0.08%
FY2024192.14M193.47M+0.73%
FY2023191.40M192.06M-0.51%
FY2022192.54M193.04M-0.00%
FY2021192.18M193.04M+0.60%

Source: Financial Modeling Prep

Related Instruments

Title: Garmin Ltd

Sector: Technology
Industry: Hardware, Equipment & Parts
Garmin produces GPS-enabled hardware and software for five sectors: fitness, outdoors, automotive, aviation, and marine. Garmin has built a strong reputation for durable, high-precision devices through a vertically integrated design and manufacturing approach. The company's product lines include smartwatches, fitness trackers, communication equipment, and a comprehensive suite of marine and aviation navigation systems. Garmin operates globally, with its business focused primarily on North America and Europe.

Common questions about Garmin stock

Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Never invest money you cannot afford to lose, and carefully assess the suitability of complex products such as CFDs and derivatives in light of your financial situation. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Arincen would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.

Arincen and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Arincen and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Arincen may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

© 2026 - Arincen L.L.C-FZ - License No. 2420098.01. All Rights Reserved.