Garmin Ltd.: stock overview

GRMNNYSETechnology · Search, Detection, Navigation, Guidance, Aeronautical Sys

Price

$283.03

November 13, 2026Market cap $54.5B

DCF calculator

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The full history: 17 fiscal years, from FY2009
The estimated fair value, with its range and its certainty
The full analysis, 18 a month
More questions to the chat on its filings
Excel with every year
An email when it reports, changes its dividend or an officer buys

In short

Garmin had revenue of $7.9B over the last 12 months and net income of $2.0B, a net margin of 25.6%. Revenue grew by 11.6% a year on average over the last 5 years. At $283.03 the shares trade at a P/E of 27.0, against a median of 23.9 over the last 5 fiscal years. It holds more cash than debt, by $2.3B. It pays a dividend yielding 1.38%.

From its SEC filings (latest fiscal year to December 27, 2025) and the price of November 13, 2026.

Its SEC filings

Market cap: $54.5B; 192M shares
P/E: 27.0; Today27.0
Median23.9
Revenue, 12 months: $7.9B; +11.6% a year over 5 years
Net margin: 25.6%; FY2025: 23.0%, above 92% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

FY2023–FY2025 fiscal years

+17.7% a year over 2 years

FY2025Dec 27, 202510-K
Revenue$7.2B
FY2024Dec 28, 202410-K
Revenue$6.3B
FY2023Dec 30, 202310-K
Revenue$5.2B

Year	Revenue	Net income	EPS	Free cash flow	Dividend per share	Price
FY2025Dec 27, 202510-K	$7.2B	$1.7B	$8.59	$1.4B	~$3.45	$205.51
FY2024Dec 28, 202410-K	$6.3B	$1.4B	$7.30	$1.2B	~$2.98	$209.36
FY2023Dec 30, 202310-K	$5.2B	$1.3B	$6.71	$1.2B	~$2.92	$128.54

Fiscal years in figures

GRMN's revenue, profit, cash flow and dividend with each year-end price, from FY2009 to 2022, 14 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $39.6B: $54.5B
Enterprise value: $52.1B
P/E 3-year median: 23.9: 27.0
EV / EBIT: 22.9
EV / Revenue: 6.6
P/B 3-year median: 4.4: 5.7
FCF yield 3-year median: 3.4%: 2.7%
Earnings yield 3-year median: 4.2%: 3.7%

Profitability

Gross margin: 61.1%
Operating margin: 28.8%
Net margin 3-year median: 23.0%: 25.6%
ROIC: 20.9%
ROIC, 5-year average: 14.7%
ROE: 22.3%

Growth

Revenue, yearly change: +15.1%
EPS, yearly change: +17.7%
FCF, yearly change: +10.0%
Revenue, average a year: +11.6%
EPS, average a year: +10.7%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash: $2.3B
Total debt: $173M
Of which operating leases: $173M
Net cash: $2.3B
Net debt / EBITDA: -1.0x
Interest cover: –
Current ratio: 3.05

Balance sheet of September 26, 2026.

Returns to shareholders

Dividend yield 3-year median: 1.7%: 1.38%
Buybacks: –
Total returned: 1.38%
Shares, yearly change: 0.0%

Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 38).

Gross margin

58.7%

Above 53% of the 161 companies in its industry, and 77% of all.

Operating margin

25.9%

Above 95% of the 186 companies in its industry, and 89% of all.

Net margin

23.0%

Above 92% of the 189 companies in its industry, and 85% of all.

ROE

18.5%

Above 85% of the 174 companies in its industry, and 82% of all.

ROA

15.1%

Above 94% of the 190 companies in its industry, and 94% of all.

Revenue growth

15.1%

Above 70% of the 186 companies in its industry, and 73% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC: GARMIN LTD
CIK: 1121788
Exchange: NYSE
Industry (SIC): 3812 · Search, Detection, Navigation, Guidance, Aeronautical Sys
Fiscal year ends: December 26
Latest annual report: December 27, 2025
Reporting currency: USD
Shares: 192M

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The full analysis

What do Garmin's filings show?

These are Garmin's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

A fair value range built from the filings
Earnings quality, debt and red flags
Insider and institutional moves
The case for and the case against

Questions about GRMN

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What is GRMN's market cap?

Garmin Ltd.'s market cap is $54.5B, at a price of $283.03 on November 13, 2026 and 192M shares.

What is GRMN's P/E?

GRMN's P/E is 27.0, on earnings per share of $10.41 over the last 12 months. The median over the last 5 fiscal years was 23.9.

How much revenue does GRMN have?

Garmin had revenue of $7.9B over the last 12 months. Over the last 5 years it changed by +11.6% a year on average.

Does GRMN pay a dividend?

Yes. Garmin paid $3.90 per share over the last 12 months, a yield of 1.38% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Garmin Ltd.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.