GRMN Stock Analysis: Garmin | NYSE
Scientific & Technical Instruments | NYSE, USA | Market Cap: 55.028m USD | 12M Return: 47.5% | CH0114405324 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 253M
EPS Trend: 99.2%
Qual. Beats: 4
Rev. Trend: 99.6%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Garmin Ltd. is a Swiss-based technology company that designs, manufactures, and markets a broad portfolio of GPS-enabled navigation, communications, and sensor-based products across multiple end markets. Its consumer-facing offerings span fitness and wellness (running, cycling, smartwatches, and scales), outdoor recreation (adventure watches, handhelds, satellite communicators, golf and dive devices), and consumer automotive navigation. The company also operates the Garmin Connect and Connect IQ platforms, which allow users to track fitness data and enable third-party app development on its devices.
Beyond consumer products, Garmin has significant B2B exposure through its aviation and marine segments, supplying avionics, integrated flight decks, autopilot systems, ADS-B and transponder solutions, as well as chartplotters, fishfinders, sonar, radar, and trolling motors for boats. Products are sold through a mix of independent retailers, dealers, distributors, OEM partners, installation and repair shops, and its own online webshop. Founded in 1989 and headquartered in Schaffhausen, Switzerland, Garmin has built a diversified hardware-plus-software model that reduces reliance on any single product category, which is notable in the Consumer Electronics sub-industry where competitors typically focus on narrower segments. The company is listed on the NYSE under the ticker GRMN and went public in December 2000.
- Fitness wearables revenue declines as Apple Watch competition intensifies
- Aviation segment margins expand on ADS-B mandate and OEM growth
- Strong free cash flow supports dividends and aggressive share buybacks
| Net Income: 2.02b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -0.97 > 1.0 |
| NWC/Revenue: 55.22% < 20% (prev 58.46%; Δ -3.23% < -1%) |
| CFO/TA 0.15 > 3% & CFO 1.82b > Net Income 2.02b |
| Net Debt (-2.17b) to EBITDA (2.62b): -0.83 < 3 |
| Current Ratio: 3.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (193.6m) vs 12m ago 0.04% < -2% |
| Gross Margin: 61.12% > 18% (prev 58.73%; Δ 2.39% > 0.5%) |
| Asset Turnover: 70.05% > 50% (prev 65.98%; Δ 4.07% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.36 (Total Current Assets 6.48b - Total Current Liabilities 2.13b) / Total Assets 12.0b |
| B: 0.64 (Retained Earnings 7.65b / Total Assets 12.0b) |
| C: 0.21 (EBIT TTM 2.42b / Avg Total Assets 11.3b) |
| D: 3.91 (Book Value of Equity 9.55b / Total Liabilities 2.44b) |
| Altman-Z'' = 10.01 = AAA |
| DSRI: 1.05 (Receivables 1.14b/955.6m, Revenue 7.89b/6.94b) |
| GMI: 0.96 (GM 58.73% / 61.12%) |
| AQI: 1.03 (AQ_t 0.32 / AQ_t-1 0.31) |
| SGI: 1.14 (Revenue 7.89b / 6.94b) |
| TATA: 0.02 (NI 2.02b - CFO 1.82b) / TA 12.0b) |
| Beneish M = -2.90 (Cap -4..+1) = A |
As of November 14, 2026, the stock is trading at USD 283.03 with a total of 464,468 shares traded. Over the past week, the price has changed by -0.89%, over one month by +2.39%, over three months by -8.91% and over the past year by +47.50%.
Current recommended Stop Loss: 272.50 (which is 3.7% or 1.1 ATR below the current price).
Garmin has received a consensus analysts rating of 3.56. Therefore, it is recommended to hold GRMN.
- StrongBuy: 3
- Buy: 0
- Hold: 5
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 299 | 5.6% |
P/E Trailing = 27.4323
P/E Forward = 24.2718
P/S = 6.9774
P/B = 5.7624
P/EG = 2.1701
Revenue TTM = 7.89b USD
EBIT TTM = 2.42b USD
EBITDA TTM = 2.62b USD
Long Term Debt = unknown (none)
Short Term Debt = 31.2m USD (from shortTermDebt, last fiscal year)
Debt = 173.5m USD (from shortLongTermDebtTotal, last quarter) (leases 173.5m already included)
Net Debt = -2.17b USD (calculated: Debt 173.5m - CCE 2.34b)
Enterprise Value = 52.9b USD (55.0b + Debt 173.5m - CCE 2.34b)
Interest Coverage Ratio = unknown (Ebit TTM 2.42b / Interest Expense TTM 0.0)
EV/FCF = 37.69x (Enterprise Value 52.9b / FCF TTM 1.40b)
FCF Yield = 2.65% (FCF TTM 1.40b / Enterprise Value 52.9b)
FCF Margin = 17.78% (FCF TTM 1.40b / Revenue TTM 7.89b)
Net Margin = 25.58% (Net Income TTM 2.02b / Revenue TTM 7.89b)
Gross Margin = 61.12% ((Revenue TTM 7.89b - Cost of Revenue TTM 3.07b) / Revenue TTM)
Gross Margin QoQ = 63.33% (prev 62.41%)
Tobins Q-Ratio = 4.41 (Enterprise Value 52.9b / Total Assets 12.0b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 173.5m)
Taxrate = 16.64% (402.8m / 2.42b)
NOPAT = 2.02b (EBIT 2.42b * (1 - 16.64%))
Current Ratio = 3.05 (Total Current Assets 6.48b / Total Current Liabilities 2.13b)
Debt / Equity = 0.02 (Debt 173.5m / totalStockholderEquity, last quarter 9.55b)
Debt / EBITDA = -0.83 (Net Debt -2.17b / EBITDA 2.62b)
Debt / FCF = -1.54 (Net Debt -2.17b / FCF TTM 1.40b)
Total Stockholder Equity = 9.21b (last 4 quarters mean from totalStockholderEquity)
RoA = 17.92% (Net Income 2.02b / Total Assets 12.0b)
RoE = 21.91% (Net Income TTM 2.02b / Total Stockholder Equity 9.21b)
RoCE = 24.53% (EBIT 2.42b / Capital Employed (Total Assets 12.0b - Current Liab 2.13b))
RoIC = 21.23% (NOPAT 2.02b / Invested Capital 9.50b)
WACC = 7.93% (E(55.0b)/V(55.2b) * Re(7.95%) + D(173.5m)/V(55.2b) * Rd(0.0%) * (1-Tc(0.17)))
Discount Rate = 7.95% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 52.41 | Cagr: 0.17%
[DCF] Terminal Value 76.11% ; FCFF base≈1.37b ; Y1≈1.44b ; Y5≈1.66b
[DCF] Fair Price = 144.2 (EV 25.6b - Net Debt -2.17b = Equity 27.8b / Shares 192.7m; r=8.35% [WACC [floored]]; 5y FCF grow 5.25% → 2.50% )
EPS Correlation: 99.17 | EPS CAGR: 24.12% | SUE: 1.66 | # QB: 4
Revenue Correlation: 99.59 | Revenue CAGR: 16.38% | SUE: 0.09 | # QB: 0
EPS current Quarter (2027-03-31): EPS=2.28 | Chg30d=+3.91% | Revisions=+17% | Analysts=5
EPS current Year (2026-12-31): EPS=10.79 | Chg30d=+6.54% | Revisions=+67% | GrowthEPS=+26.0% | GrowthRev=+12.5%
EPS next Year (2027-12-31): EPS=11.46 | Chg30d=+2.96% | Revisions=+62% | GrowthEPS=+6.3% | GrowthRev=+12.1%
[Analyst] Revisions Ratio: +71% (up=13, down=1)