GRMN Stock Financial Analysis - Garmin Ltd. (NYSE) Stock

Overview

Garmin Ltd., based in Schaffhausen, Switzerland, is a global leader in the technology market specializing in GPS technology across various sectors, including automotive, aviation, marine, outdoor, and fitness. Founded in 1989, the company has flourished by leveraging its navigational expertise to develop wearable technology, as well as portable and fixed-mount GPS devices. Garmin stands out for its significant investment in R&D, which fuels the continuous innovation and diversification of its product lines. Key projects include the integration of smart features into traditional GPS devices, expansion of its fitness tracking wearables, and the enhancement of cockpit electronics and avionics for aircraft manufacturers. Garmin's strategic approach often involves organic growth and occasional acquisitions to augment technological capabilities and market reach.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for Garmin Ltd. as of June 28, 2025 is 6,758.25 MM.
The operating income for Garmin Ltd. as of June 28, 2025 is 1,758.68 MM.
The net income for Garmin Ltd. as of June 28, 2025 is 1,568.44 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-28	6,758.25	1,758.68	1,568.44
2025-03-29	6,450.35	1,628.41	1,468.24
2024-12-28	6,296.90	1,593.99	1,411.44
2024-09-28	5,956.84	1,418.37	1,517.83
2024-06-29	5,648.35	1,251.26	1,375.96
2024-03-30	5,462.48	1,193.59	1,363.27
2023-12-30	5,228.25	1,092.16	1,289.64
2023-09-30	5,052.11	1,018.88	1,040.78
2023-07-01	4,915.01	987.88	994.39
2023-04-01	4,835.05	996.27	964.32
2022-12-31	4,860.29	1,027.85	973.59
2022-09-24	4,945.52	1,075.79	966.45
2022-06-25	4,997.06	1,119.09	1,014.64
2022-03-26	5,083.13	1,197.52	1,073.76
2021-12-25	4,982.80	1,218.62	1,082.20
2021-09-25	4,942.61	1,274.77	1,129.61
2021-06-26	4,859.83	1,309.20	1,183.99
2021-03-27	4,402.79	1,126.42	1,051.17
2020-12-26	4,186.57	1,054.24	992.32
2020-09-26	3,937.40	959.50	1,019.57

Income Statement: EPS

The earnings per share basic for Garmin Ltd. as of June 28, 2025 is 8.15.
The earnings per share diluted for Garmin Ltd. as of June 28, 2025 is 8.10.

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-28	8.15	8.10
2025-03-29	7.64	7.59
2024-12-28	7.35	7.30
2024-09-28	7.91	7.86
2024-06-29	7.18	7.14
2024-03-30	7.12	7.09
2023-12-30	6.74	6.71
2023-09-30	5.44	5.42
2023-07-01	5.19	5.17
2023-04-01	5.02	5.00
2022-12-31	5.06	5.04
2022-09-24	5.01	5.00
2022-06-25	5.27	5.26
2022-03-26	5.58	5.56
2021-12-25	5.63	5.61
2021-09-25	5.89	5.86
2021-06-26	6.18	6.15
2021-03-27	5.49	5.47
2020-12-26	5.19	5.17
2020-09-26	5.34	5.33

Cash Flow: Operations, Investing, Financing

The cash from operating activities for Garmin Ltd. as of June 28, 2025 is 1,335.80 MM.
The cash from investing activities for Garmin Ltd. as of June 28, 2025 is -496.29 MM.
The cash from financing activities for Garmin Ltd. as of June 28, 2025 is -756.91 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-28	1,335.80	-496.29	-756.91
2025-03-29	1,417.95	-489.06	-675.47
2024-12-28	1,432.47	-393.33	-626.86
2024-09-28	1,414.52	-256.05	-599.79
2024-06-29	1,513.98	-406.00	-585.13
2024-03-30	1,532.36	-361.95	-600.42
2023-12-30	1,376.27	-332.97	-636.51
2023-09-30	1,278.99	-93.67	-848.79
2023-07-01	1,075.69	181.90	-920.65
2023-04-01	881.84	-17.14	-909.59
2022-12-31	788.26	-145.12	-840.62
2022-09-24	588.56	-482.81	-620.18
2022-06-25	679.86	-674.50	-528.02
2022-03-26	829.70	-507.14	-493.75
2021-12-25	1,012.43	-475.37	-486.71
2021-09-25	1,279.28	-392.90	-474.42
2021-06-26	1,308.20	-573.48	-463.36
2021-03-27	1,277.76	-285.76	-457.89
2020-12-26	1,135.27	-260.52	-461.76
2020-09-26	933.83	-262.27	-438.98

Valuation Metrics : PE, PriceToBook, PriceToTBV

The p/e for Garmin Ltd. as of June 28, 2025 is 27.33.
The p/book for Garmin Ltd. as of June 28, 2025 is 4.91.
The p/tbv for Garmin Ltd. as of June 28, 2025 is 5.41.

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-28	27.33	4.91	5.41
2025-03-29		5.32	5.89
2024-12-28			6.01
2024-09-28	24.42	4.80	5.39
2024-06-29	22.83	4.29	4.81
2024-03-30	22.01	4.05	4.56
2023-12-30	23.63	3.87	4.42
2023-09-30	20.26	3.29	3.74
2023-07-01	20.55	3.09	3.50
2023-04-01	19.83	3.11
2022-12-31		3.01	3.43
2022-09-24	15.73	2.72
2022-06-25		3.10	3.54
2022-03-26		3.68	4.73
2021-12-25	22.90	4.42	5.13
2021-09-25	27.91	5.92	6.94
2021-06-26	26.39
2021-03-27	36.13	6.50	7.65
2020-12-26	32.44	6.48	7.72
2020-09-26	38.31	7.55	8.76

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

The ebit/ev for Garmin Ltd. as of June 28, 2025 is 0.05.
The ebit (3y)/ev for Garmin Ltd. as of June 28, 2025 is 0.04.

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-28	0.05	0.04
2025-03-29	0.04	0.03
2024-12-28	0.04	0.03
2024-09-28	0.04	0.04
2024-06-29	0.04	0.04
2024-03-30	0.04	0.04
2023-12-30	0.05	0.05
2023-09-30	0.06	0.06
2023-07-01	0.06	0.06
2023-04-01	0.06	0.06
2022-12-31	0.06	0.07
2022-09-24	0.07	0.08
2022-06-25	0.07	0.06
2022-03-26	0.06	0.05
2021-12-25	0.05	0.04
2021-09-25	0.04	0.03
2021-06-26
2021-03-27	0.03	0.03
2020-12-26	0.03	0.03
2020-09-26	0.03	0.02

Management Effectiveness

The roa for Garmin Ltd. as of June 28, 2025 is 0.17.
The roe for Garmin Ltd. as of June 28, 2025 is 0.20.
The roic for Garmin Ltd. as of June 28, 2025 is 0.18.
The croic for Garmin Ltd. as of June 28, 2025 is 0.03.
The ocroic for Garmin Ltd. as of June 28, 2025 is 0.17.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-28	0.17	0.20	0.18	0.03	0.17
2025-03-29	0.16	0.20	0.18	0.05	0.18
2024-12-28	0.19	0.24	0.20	0.08	0.18
2024-09-28	0.17	0.22	0.19	0.07	0.21
2024-06-29	0.18	0.21	0.18	0.07	0.20
2024-03-30	0.17	0.21	0.18	0.06	0.19
2023-12-30	0.14	0.18	0.16	0.05	0.20
2023-09-30	0.13	0.17	0.16	0.05	0.17
2023-07-01	0.12	0.16	0.15	-0.01	0.13
2023-04-01	0.13	0.16	0.15	-0.03	0.12
2022-12-31	0.12	0.16	0.16	-0.09	0.10
2022-09-24	0.14	0.18	0.17	-0.09	0.11
2022-06-25	0.15	0.19	0.17	-0.03	0.13
2022-03-26	0.15	0.20	0.17	0.01	0.16
2021-12-25	0.17	0.22	0.19	0.07	0.22
2021-09-25	0.19	0.25	0.21	0.05	0.23
2021-06-26	0.17	0.21	0.18	0.09	0.22
2021-03-27	0.16	0.21	0.18	0.08	0.20
2020-12-26	0.18	0.23	0.20	0.05	0.18
2020-09-26	0.17	0.23	0.19	0.11	0.18

Gross Margins

The gross margin for Garmin Ltd. as of June 28, 2025 is 0.59.
The net margin for Garmin Ltd. as of June 28, 2025 is 0.23.
The operating margin for Garmin Ltd. as of June 28, 2025 is 0.25.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-28	0.59	0.23	0.25
2025-03-29	0.59	0.22	0.25
2024-12-28	0.58	0.25	0.24
2024-09-28	0.58	0.24	0.22
2024-06-29	0.58	0.25	0.22
2024-03-30	0.57	0.25	0.21
2023-12-30	0.57	0.21	0.20
2023-09-30	0.58	0.20	0.20
2023-07-01	0.58	0.20	0.21
2023-04-01	0.58	0.20	0.21
2022-12-31	0.57	0.20	0.22
2022-09-24	0.57	0.20	0.22
2022-06-25	0.57	0.21	0.24
2022-03-26	0.58	0.22	0.24
2021-12-25	0.59	0.23	0.26
2021-09-25	0.59	0.24	0.27
2021-06-26	0.59	0.24	0.26
2021-03-27	0.59	0.24	0.25
2020-12-26	0.59	0.26	0.24
2020-09-26	0.59	0.25	0.24

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