GRMN Stock Analysis: Garmin | NYSE
Scientific & Technical Instruments | NYSE, USA | Market Cap: 48.129m USD | 12M Return: 7.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 201M
EPS Trend: 99.2%
Qual. Beats: 2
Rev. Trend: 99.8%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Garmin Ltd. (NYSE: GRMN) is a Switzerland-based designer, manufacturer, and distributor of GPS-enabled navigation, communications, and sensor-based products sold worldwide. The company operates across five core segments-Fitness, Outdoor, Aviation, Marine, and Automotive-offering everything from smartwatches and cycling computers to integrated avionics, marine chartplotters, and OEM automotive infotainment systems. Its product ecosystem is anchored by the proprietary Garmin Connect platform, which lets users track fitness and wellness data, and the Connect IQ third-party app store. Garmin sells through a multi-channel distribution network that includes independent retailers, dealers, distributors, installation and repair shops, OEM partners, and its own online webshop. Founded in 1989 and headquartered in Schaffhausen, Switzerland, the company is classified within the Consumer Discretionary sector (Consumer Electronics sub-industry) and has been publicly traded since its 2000 IPO.
- Fitness smartwatch sales grow despite Apple Watch competition
- Aviation avionics revenue rebounds with business jet recovery
- InReach satellite communicators drive outdoor segment growth
| Net Income: 1.74b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 0.81 > 1.0 |
| NWC/Revenue: 61.92% < 20% (prev 63.80%; Δ -1.88% < -1%) |
| CFO/TA 0.16 > 3% & CFO 1.75b > Net Income 1.74b |
| Net Debt (-2.53b) to EBITDA (2.29b): -1.11 < 3 |
| Current Ratio: 4.36 > 1.5 & < 3 |
| Outstanding Shares: last quarter (193.6m) vs 12m ago -0.08% < -2% |
| Gross Margin: 59.14% > 18% (prev 58.59%; Δ 0.55% > 0.5%) |
| Asset Turnover: 71.98% > 50% (prev 65.90%; Δ 6.07% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.42 (Total Current Assets 6.00b - Total Current Liabilities 1.38b) / Total Assets 11.0b |
| B: 0.67 (Retained Earnings 7.37b / Total Assets 11.0b) |
| C: 0.20 (EBIT TTM 2.10b / Avg Total Assets 10.4b) |
| D: 5.52 (Book Value of Equity 9.27b / Total Liabilities 1.68b) |
| Altman-Z'' = 12.11 = AAA |
| DSRI: 1.03 (Receivables 941.0m/787.1m, Revenue 7.46b/6.45b) |
| GMI: 0.99 (GM 58.59% / 59.14%) |
| AQI: 1.02 (AQ_t 0.31 / AQ_t-1 0.30) |
| SGI: 1.16 (Revenue 7.46b / 6.45b) |
| TATA: -0.00 (NI 1.74b - CFO 1.75b) / TA 11.0b) |
| Beneish M = -2.88 (Cap -4..+1) = A |
As of July 23, 2026, the stock is trading at USD 240.51 with a total of 601,142 shares traded. Over the past week, the price has changed by -0.52%, over one month by +1.76%, over three months by -9.38% and over the past year by +7.35%.
Current recommended Stop Loss: 226.40 (which is 5.9% or 2.1 ATR below the current price).
Garmin has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold GRMN.
- StrongBuy: 2
- Buy: 0
- Hold: 5
- Sell: 2
- StrongSell: 1
| Analysts Target Price | 262.4 | 9.1% |
P/E Trailing = 27.8527
P/E Forward = 26.0417
P/S = 6.4483
P/B = 5.1914
P/EG = 3.4259
Revenue TTM = 7.46b USD
EBIT TTM = 2.10b USD
EBITDA TTM = 2.29b USD
Long Term Debt = unknown (none)
Short Term Debt = 31.2m USD (from shortTermDebt, last fiscal year)
Debt = 167.6m USD (from shortLongTermDebtTotal, last quarter) (leases 167.6m already included)
Net Debt = -2.53b USD (calculated: Debt 167.6m - CCE 2.70b)
Enterprise Value = 45.6b USD (48.1b + Debt 167.6m - CCE 2.70b)
Interest Coverage Ratio = unknown (Ebit TTM 2.10b / Interest Expense TTM 0.0)
EV/FCF = 31.41x (Enterprise Value 45.6b / FCF TTM 1.45b)
FCF Yield = 3.18% (FCF TTM 1.45b / Enterprise Value 45.6b)
FCF Margin = 19.45% (FCF TTM 1.45b / Revenue TTM 7.46b)
Net Margin = 23.26% (Net Income TTM 1.74b / Revenue TTM 7.46b)
Gross Margin = 59.14% ((Revenue TTM 7.46b - Cost of Revenue TTM 3.05b) / Revenue TTM)
Gross Margin QoQ = 59.44% (prev 59.21%)
Tobins Q-Ratio = 4.16 (Enterprise Value 45.6b / Total Assets 11.0b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 167.6m)
Taxrate = 17.24% (361.8m / 2.10b)
NOPAT = 1.74b (EBIT 2.10b * (1 - 17.24%))
Current Ratio = 4.36 (Total Current Assets 6.00b / Total Current Liabilities 1.38b)
Debt / Equity = 0.02 (Debt 167.6m / totalStockholderEquity, last quarter 9.27b)
Debt / EBITDA = -1.11 (Net Debt -2.53b / EBITDA 2.29b)
Debt / FCF = -1.75 (Net Debt -2.53b / FCF TTM 1.45b)
Total Stockholder Equity = 8.71b (last 4 quarters mean from totalStockholderEquity)
RoA = 16.74% (Net Income 1.74b / Total Assets 11.0b)
RoE = 19.93% (Net Income TTM 1.74b / Total Stockholder Equity 8.71b)
RoCE = 21.91% (EBIT 2.10b / Capital Employed (Total Assets 11.0b - Current Liab 1.38b))
RoIC = 18.80% (NOPAT 1.74b / Invested Capital 9.24b)
WACC = 9.23% (E(48.1b)/V(48.3b) * Re(9.26%) + D(167.6m)/V(48.3b) * Rd(0.0%) * (1-Tc(0.17)))
Discount Rate = 9.26% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 83.12 | Cagr: 0.23%
[DCF] Terminal Value 75.18% ; FCFF base≈1.36b ; Y1≈1.56b ; Y5≈2.29b
[DCF] Fair Price = 168.0 (EV 29.9b - Net Debt -2.53b = Equity 32.4b / Shares 192.9m; r=9.23% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 99.15 | EPS CAGR: 24.64% | SUE: 1.10 | # QB: 2
Revenue Correlation: 99.81 | Revenue CAGR: 17.19% | SUE: 0.70 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.29 | Chg30d=+0.00% | Revisions=-22% | Analysts=8
EPS next Quarter (2026-09-30): EPS=2.34 | Chg30d=+0.00% | Revisions=+0% | Analysts=8
EPS current Year (2026-12-31): EPS=9.58 | Chg30d=+0.00% | Revisions=+12% | GrowthEPS=+11.9% | GrowthRev=+10.3%
EPS next Year (2027-12-31): EPS=10.32 | Chg30d=+0.00% | Revisions=-12% | GrowthEPS=+7.8% | GrowthRev=+9.3%
[Analyst] Revisions Ratio: -8% (up=10, down=12)