Stock · GRMN · Technology
Switzerland · Large Cap · listed since 2000 · Revenue 12 mo. $7.7B
Price as of 11/06/2026
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.
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 Garmin 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.
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Summary
58.1 of 100
Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.
Analysis
What the price requires
If free cash flow stays at €1.2B (2025), it supports €13.6B. The remaining €35.5B of the market value assume it grows 17.9% a year for 10 years and not at all afterwards.
Required FCF growth per year
17.9%
no growth afterwards
Price to operating cash flow 28.9×, above its usual range.
Middle half of 20 quarters: 21.7× to 27.7×, median 24.1×.
Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.
with respect to the priced-in expectation
with respect to the priced-in expectation
No anomaly in the stored figures.
Since the last quarter
Q1 → Q2 2026
5 more unchanged: Revenue, 12 mo., Gross margin, FCF margin, Net debt, Shares outstanding
Derivation
Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.
Price as of 11/06/2026.
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Return on equity | 18.54% | 14.60% | Rank 61 |
| Return on capital (Greenblatt) | 30.76% | 29.77% | Rank 52 |
| EBIT margin | 25.89% | 17.40% | Rank 72 |
| FCF margin | 18.81% | 18.54% | Rank 51 |
| Gross margin | 58.74% | 48.47% | Rank 63 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Revenue growth, 1 year | 15.06% | 12.70% | Rank 57 |
| Earnings growth, 3 years per year | 19.44% | 9.54% | Rank 71 |
| Earnings growth, 5 years per year | 10.69% | 14.07% | Rank 37 |
| Sustainable growth (ROE × retained earnings) | 3.73% | 2.87% | Rank 58 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Earnings yield | 3.01% | 2.64% | Rank 58 |
| FCF yield | 2.49% | 3.06% | Rank 43 |
| EV/saleslower is better | 7.20 | 5.18 | Rank 37 |
| EV/EBITlower is better | 27.80 | 26.24 | Rank 46 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Share price, 1 year | 30.39% | −0.59% | Rank 80 |
| Share price, 6 months | 19.43% | −4.46% | Rank 77 |
| Share price, 3 months | −3.01% | −5.84% | Rank 55 |
| Distance from 52-week high | −8.81% | −33.23% | Rank 88 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Accruals (Sloan)lower is better | 6.55% | 1.65% | Rank 30 |
| Change in share countlower is better | 0.08% | −0.17% | Rank 33 |
| Dividend streak in years | – | 8 | Rank 18 |
| Price reaction to results, market-adjusted | −6.05% | −1.57% | Rank 24 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Equity ratio | 81.62% | 53.98% | Rank 92 |
| Net debt/EBITDAlower is better | −1.15 | −0.20 | Rank 75 |
| Debt to equitylower is better | 0.02 | 0.33 | Rank 87 |
| Volatility, 1 yearlower is better | 33.03% | 50.37% | Rank 90 |
Ten years in figures
| Year | Revenue, $B | EBIT margin | FCF | Shares | Net debt |
|---|---|---|---|---|---|
| 2016 | 3.0 | 20.7% | $609.0M | 189M | −$846.9M |
| 2017 | 3.1 | 21.7% | $508.9M | 189M | −$891.5M |
| 2018 | 3.3 | 23.3% | $759.2M | 190M | −$1.2B |
| 2019 | 3.8 | 25.2% | $578.1M | 191M | −$978.3M |
| 2020 | 4.2 | 25.2% | $947.8M | 192M | −$1.4B |
| 2021 | 5.0 | 24.5% | $702.8M | 193M | −$1.4B |
| 2022 | 4.9 | 21.2% | $542.1M | 193M | −$1.2B |
| 2023 | 5.2 | 20.9% | $1.2B | 192M | −$1.6B |
| 2024 | 6.3 | 25.3% | $1.2B | 193M | −$1.9B |
| 2025 | 7.2 | 25.9% | $1.4B | 194M | −$2.1B |
6 of 7 StockScorer Score rules met · How the score is built
Garmin Ltd mainly meets criteria in the Profitability category. Result from 18 strategies checked.
Garmin Ltd is rated here with the StockScorer Score strategy, the flagship rule set. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.
6 of 7 rules met
9 of 11 points
Detail data
Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.
With a free account, you can see the match across all strategies checked in one complete overview.
Selected fundamental metrics for Garmin Ltd.
| Metric | Stock | Sector |
|---|---|---|
| P/E ratio | 33.2 | 35.1 |
| P/B ratio | 6.2 | 5.5 |
| Return on equity (ROE) | 18.5% | 14.6% |
| Equity ratio | 81.6% | 54.0% |
| Debt-to-equity (D/E) | 0.02 | 0.33 |
| Dividend yield | 1.4% | 0.9% |
How comparable stocks in the same sector score in the StockScorer model.
| Symbol | Company | Rating |
|---|---|---|
| GRMN | Garmin Ltdthis page | |
| KEYS | Keysight Technologies Inc | Low2.7 |
| COHR | Coherent Corp | Low1.8 |
| HEXA-B.ST | Hexagon AB (publ) | locked |
| TDY | Teledyne Technologies Incorporated | locked |
| FTV | Fortive Corp | locked |
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Learn more about the metrics in the metrics glossary or all rated stocks in the stock overview.
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