Overview Dividends

(GRMN) Garmin - Ratings and Ratios

Exchange: NYSE • Country: Switzerland • Currency: USD • Type: Common Stock • ISIN: CH0114405324

Wearables, Avionics, Marine, Automotive, Outdoor

Consumer Electronics
Market Cap in USD: 39,559m

IPO / Inception: 2000-12-12
Return 12m vs S&P 500: -15.2%

EPS (Earnings per Share)

EPS CAGR: 6.89%
EPS Trend: 53.3%

Last SUE: 0.06
Qual. Beats: 0

Revenue

Rev. CAGR: 6.64%
Rev. Trend: 84.3%

Last SUE: -0.59
Qual. Beats: 0

Dividends

Dividend Yield	2.12%
Yield on Cost 5y	4.02%
Yield CAGR 5y	5.56%
Payout Consistency	98.7%
Payout Ratio	42.2%

Risk via 5d forecast
Volatility	26.2%
Value at Risk 5%th	35.2%
Relative Tail Risk	-18.33%

Reward TTM
Sharpe Ratio	0.03
Alpha	-19.67
CAGR/Max DD	1.20

Character TTM
Hurst Exponent	0.475
Beta	1.152
Beta Downside	1.218

Drawdowns 3y
Max DD	27.97%
Mean DD	5.48%
Median DD	3.66%

Description: GRMN Garmin December 04, 2025

Garmin Ltd. (NYSE:GRMN) designs, manufactures and markets a diversified portfolio of wireless devices, ranging from consumer fitness wearables and outdoor handhelds to advanced aviation avionics and marine navigation systems. Its ecosystem includes proprietary software platforms (Garmin Connect, Connect IQ) that enable data tracking and third-party app development, and it distributes products through a mix of independent retailers, OEM partnerships and direct-to-consumer channels.

Key metrics: FY 2024 revenue reached approximately $5.2 billion, with a 14 % operating margin, reflecting strong pricing power in premium segments. The wearables market is projected to grow ~7 % CAGR through 2028, driven by health-tracking adoption, while commercial aviation avionics spend is expected to rise ~4 % annually as airlines replace legacy systems. Garmin’s exposure to discretionary consumer spending makes its performance sensitive to macro-economic cycles, but its recurring software subscriptions (e.g., Garmin Connect premium) provide a modest, inflation-resistant revenue stream.

For a deeper quantitative assessment, you may find ValueRay’s analyst tools useful for modeling Garmin’s upside potential under different macro-scenario assumptions.

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (1.57b TTM) > 0 and > 6% of Revenue (6% = 416.6m TTM)

FCFTA 0.13 (>2.0%) and ΔFCFTA -0.78pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 58.46% (prev 60.95%; Δ -2.50pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.15 (>3.0%) and CFO 1.56b <= Net Income 1.57b (YES >=105%, WARN >=100%)

Net Debt (-1.92b) to EBITDA (2.02b) ratio: -0.95 <= 3.0 (WARN <= 3.5)

Current Ratio 3.32 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (193.5m) change vs 12m ago 0.19% (target <= -2.0% for YES)

Gross Margin 58.73% (prev 58.43%; Δ 0.30pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 69.88% (prev 63.73%; Δ 6.16pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -28.49 (EBITDA TTM 2.02b / Interest Expense TTM -64.3m) >= 6 (WARN >= 3)

Altman Z'' 9.11

(A) 0.39 = (Total Current Assets 5.81b - Total Current Liabilities 1.75b) / Total Assets 10.52b

(B) 0.61 = Retained Earnings (Balance) 6.44b / Total Assets 10.52b

(D) 3.18 = Book Value of Equity 6.51b / Total Liabilities 2.04b

Total Rating: 9.11 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 80.43

1. Piotroski 4.0pt

2. FCF Yield 3.58%

3. FCF Margin 19.19%

4. Debt/Equity 0.02

5. Debt/Ebitda -0.95

6. ROIC - WACC (= 7.40)%

7. RoE 19.26%

8. Rev. Trend 84.28%

9. EPS Trend 53.28%

What is the price of GRMN shares?

As of December 30, 2025, the stock is trading at USD 205.51 with a total of 312,132 shares traded.
Over the past week, the price has changed by -0.14%, over one month by +5.67%, over three months by -15.94% and over the past year by +0.67%.

Is GRMN a buy, sell or hold?

Garmin has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold GRMN.

Strong Buy: 2
Buy: 0
Hold: 5
Sell: 2
Strong Sell: 1

What are the forecasts/targets for the GRMN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	234.1	13.9%
Analysts Target Price	234.1	13.9%
ValueRay Target Price	227.5	10.7%

GRMN Fundamental Data Overview December 28, 2025

Market Cap USD = 39.56b (39.56b USD * 1.0 USD.USD)
P/E Trailing = 25.3091
P/E Forward = 23.8095
P/S = 5.6976
P/B = 4.6506
P/EG = 2.8413
Beta = 1.014
Revenue TTM = 6.94b USD
EBIT TTM = 1.83b USD
EBITDA TTM = 2.02b USD
Long Term Debt = 155.8m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 27.9m USD (from shortTermDebt, last fiscal year)
Debt = 155.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.92b USD (from netDebt column, last quarter)
Enterprise Value = 37.18b USD (39.56b + Debt 155.8m - CCE 2.54b)
Interest Coverage Ratio = -28.49 (Ebit TTM 1.83b / Interest Expense TTM -64.3m)
FCF Yield = 3.58% (FCF TTM 1.33b / Enterprise Value 37.18b)
FCF Margin = 19.19% (FCF TTM 1.33b / Revenue TTM 6.94b)
Net Margin = 22.63% (Net Income TTM 1.57b / Revenue TTM 6.94b)
Gross Margin = 58.73% ((Revenue TTM 6.94b - Cost of Revenue TTM 2.87b) / Revenue TTM)
Gross Margin QoQ = 59.09% (prev 58.80%)
Tobins Q-Ratio = 3.53 (Enterprise Value 37.18b / Total Assets 10.52b)
Interest Expense / Debt = 20.85% (Interest Expense 32.5m / Debt 155.8m)
Taxrate = 21.22% (108.2m / 509.8m)
NOPAT = 1.44b (EBIT 1.83b * (1 - 21.22%))
Current Ratio = 3.32 (Total Current Assets 5.81b / Total Current Liabilities 1.75b)
Debt / Equity = 0.02 (Debt 155.8m / totalStockholderEquity, last quarter 8.48b)
Debt / EBITDA = -0.95 (Net Debt -1.92b / EBITDA 2.02b)
Debt / FCF = -1.44 (Net Debt -1.92b / FCF TTM 1.33b)
Total Stockholder Equity = 8.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 14.93% (Net Income 1.57b / Total Assets 10.52b)
RoE = 19.26% (Net Income TTM 1.57b / Total Stockholder Equity 8.16b)
RoCE = 22.02% (EBIT 1.83b / Capital Employed (Equity 8.16b + L.T.Debt 155.8m))
RoIC = 17.68% (NOPAT 1.44b / Invested Capital 8.16b)
WACC = 10.28% (E(39.56b)/V(39.72b) * Re(10.26%) + D(155.8m)/V(39.72b) * Rd(20.85%) * (1-Tc(0.21)))
Discount Rate = 10.26% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
[DCF Debug] Terminal Value 74.42% ; FCFE base≈1.30b ; Y1≈1.59b ; Y5≈2.66b
Fair Price DCF = 161.6 (DCF Value 31.09b / Shares Outstanding 192.3m; 5y FCF grow 23.76% → 3.0% )
EPS Correlation: 53.28 | EPS CAGR: 6.89% | SUE: 0.06 | # QB: 0
Revenue Correlation: 84.28 | Revenue CAGR: 6.64% | SUE: -0.59 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.72 | Chg30d=-0.007 | Revisions Net=-1 | Analysts=7
EPS next Year (2026-12-31): EPS=8.72 | Chg30d=-0.051 | Revisions Net=-2 | Growth EPS=+6.6% | Growth Revenue=+7.3%

Additional Sources for GRMN Stock

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Fund Manager Positions: Dataroma | Stockcircle