Garmin (GRMN) | Financial Analysis & Statements

Garmin Ltd. | Large-cap | Technology

$220.80

2.16%

| Garmin Stock Comparison:

Garmin vs Keysight Garmin vs Teledyne Garmin vs Trimble Garmin vs Fortive Garmin vs Coherent Garmin vs S&P 500 | Market

Overview Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

Financial Overview

Latest Annual: 2024

Income Metrics

Revenue 6.3B

Gross Profit 3.7B 58.70%

Operating Income 1.6B 25.31%

Net Income 1.4B 22.41%

EPS (Diluted) $7.30

Balance Sheet Metrics

Total Assets 9.6B

Total Liabilities 1.8B

Shareholders Equity 7.8B

Debt to Equity 0.23

Cash Flow Metrics

Operating Cash Flow 1.4B

Free Cash Flow 1.2B

Revenue & Profitability Trend

Interactive Financial Charts Not Available

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Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Garmin Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue	6.3B	5.2B	4.9B	5.0B	4.2B
Cost of Goods Sold	2.6B	2.2B	2.1B	2.1B	1.7B
Gross Profit	3.7B	3.0B	2.8B	2.9B	2.5B
Operating Expenses	2.1B	1.9B	1.8B	1.7B	1.4B
Operating Income	1.6B	1.1B	1.0B	1.2B	1.1B
Pre-tax Income	1.7B	1.2B	1.1B	1.2B	1.1B
Income Tax	284.0M	-89.3M	91.4M	124.6M	111.1M
Net Income	1.4B	1.3B	973.6M	1.1B	992.3M
EPS (Diluted)	$7.30	$6.71	$5.04	$5.61	$5.17

Income Statement Trend

Garmin Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets	5.3B	4.5B	4.0B	4.3B	3.7B
Non-Current Assets	4.3B	4.1B	3.8B	3.6B	3.4B
Total Assets	9.6B	8.6B	7.7B	7.9B	7.0B
Liabilities
Current Liabilities	1.5B	1.3B	1.2B	1.4B	1.2B
Non-Current Liabilities	274.3M	280.8M	315.2M	292.1M	351.0M
Total Liabilities	1.8B	1.6B	1.5B	1.7B	1.5B
Equity
Total Shareholders Equity	7.8B	7.0B	6.2B	6.1B	5.5B

Balance Sheet Composition

Garmin Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income	1.4B	1.3B	973.6M	1.1B	992.3M
Operating Cash Flow	1.4B	1.4B	795.2M	976.4M	1.2B
Investing Activities
Capital Expenditures	-193.6M	-193.3M	-241.9M	-307.6M	-183.4M
Investing Cash Flow	-393.3M	-331.5M	-143.2M	-473.4M	-258.5M
Financing Activities
Dividends Paid	-572.4M	-558.8M	-679.1M	-491.5M	-450.6M
Financing Cash Flow	-634.7M	-657.8M	-880.1M	-491.5M	-477.0M
Free Cash Flow	1.2B	1.2B	542.1M	702.8M	947.8M

Cash Flow Trend

Garmin Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 28.41

Forward P/E 28.94

Price to Book 5.09

Price to Sales 6.45

PEG Ratio 28.94

Profitability Ratios

Profit Margin 22.76%

Operating Margin 21.68%

Return on Equity 19.04%

Return on Assets 11.05%

Financial Health

Current Ratio 4.10

Debt to Equity 2.18

Beta 0.99

Per Share Data

EPS (TTM) $7.60

Book Value per Share $42.44

Revenue per Share $33.56

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
grmn	41.6B	28.41	5.09	19.04%	22.76%	2.18
Keysight	28.2B	38.42	5.13	14.30%	14.53%	50.48
Teledyne	25.2B	30.67	2.53	8.62%	14.37%	29.85
Trimble	19.1B	13.05	3.50	31.00%	42.40%	25.67
Fortive	17.9B	23.11	1.75	7.70%	12.90%	39.34
Coherent	14.5B	56.88	2.71	1.00%	1.73%	48.29

Financial data is updated regularly. All figures are in the company's reporting currency.