Garmin Ltd (GRMN)
Consumer Discretionary · Consumer Electronics · US stock · S&P 500 component
$284.79
▼ -0.43 (0.15%)
Fair valueFair
$247 −13.2% to fair value
$124fair band $173–$322$371
Day's range
$283.52 – $292.84
52-week range
$183.64 – $313.07
About Garmin Ltd
Garmin designs and sells navigation and wireless devices. Its products include GPS wearables and smartwatches for fitness and outdoor use, marine and aviation electronics, cycling computers and automotive systems. Revenue comes from selling these devices through retailers, online stores and equipment makers, and its product lines span consumer and professional markets with its own design and software.
The company reported revenue of $7.5 billion for the last twelve months. Across three years, revenue grew 14.2% a year. It posts an operating margin of 26.5%, with return on invested capital of 25%. The dividend yield is 1.4%. Overall, the X-Ray Score comes to 53 out of 100. These figures describe past results as reported and are a factual snapshot, not a forecast. Some measures, such as margins for real estate trusts and banks, are defined differently from those of industrial firms, so comparisons should be made with care.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $183.64 – $313.07Volume 1,664,800Daily, split-adjusted
Vitals
Market cap$55.1B
52-week range$183.64 – $313.07
Volume (last day)1,664,800
P/E (TTM)31.7
EBIT / EV yield3.8%
Free-cash-flow yield2.6%
Dividend yield1.4%
Revenue (TTM)$7.5B
Net income (TTM)$1.7B
Operating margin26.5%
Return on capital24.9%
Debt incl. leasesData missing
Cash & securities$2.7B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$247model spread $232 – $265
Fair
−13.2% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $285
Undervalued < $173Fair $173 – $322Overvalued > $322
10-year DCF (market-scaled)
$310
Peer multiples
$181
Earnings power floor (not blended)
$97
Fundamentals-adjusted multiple
$251
Growth the price implies
19.5%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Discretionary peers. Open a lens to see the numbers behind it.
Valuation
Weak
22/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.8%
Free-cash-flow yield2.6%
Fair value vs price0.9×
Growth
Strong
82/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)14.2%
EPS growth (3y)19.5%
Growth consistency100%
Profitability
Weak
50/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital24.9%
Operating margin26.5%
Gross profitability40.3%
Financial health
Strong
84/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score7 / 9
Interest coverNo interest cost
Dividends
Weak
23/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield1.4%
Dividends vs free cash flow52%
Dividend growth-0.8%
Quarterly results: last 6 quarters
+22.9%
Dec '24
+11.1%
Mar '25
+20.4%
Jun '25
+11.7%
Sep '25
+16.6%
Dec '25
+14.2%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.8B, diluted EPS $2.09.
Fundamentals checklist
● 9 Good · ● 2 Average · ● 4 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Good
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 57/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $5.0B | $4.9B | $5.2B | $6.3B | $7.2B |
| Operating income | $1.2B | $1.0B | $1.1B | $1.6B | $1.9B |
| Net income | $1.1B | $974M | $1.3B | $1.4B | $1.7B |
| Operating cash flow | $1.0B | $788M | $1.4B | $1.4B | $1.6B |
| Operating margin | 24.5% | 21.1% | 20.9% | 25.3% | 25.9% |
| Free cash flow | $705M | $544M | $1.2B | $1.2B | $1.4B |
| Diluted EPS | $5.61 | $5.04 | $6.71 | $7.30 | $8.59 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
9 bullish · 4 neutral · 3 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 277.1 | Bullish |
| EMA 10 | 279.5 | Bullish |
| SMA 20 | 282.4 | Bullish |
| EMA 20 | 280.2 | Bullish |
| SMA 50 | 285.9 | Bearish |
| EMA 50 | 278.7 | Bullish |
| SMA 100 | 266.4 | Bullish |
| EMA 100 | 269.6 | Bullish |
| SMA 200 | 248.4 | Bullish |
| EMA 200 | 254.4 | Bullish |
Oscillators (daily)
| RSI (14) | 54.55 | Neutral |
| MACD (12, 26) | -0.94 | Bearish |
| Momentum (12) | -0.71 | Bearish |
| Stochastic %K (14) | 67.35 | Neutral |
| Williams %R (14) | -32.65 | Neutral |
| CCI (20) | 49.26 | Neutral |
Pivot points (classic, last session)
S3 271.9 | S2 277.7 | S1 281.3 | Pivot 287.0 | R1 290.6 | R2 296.4 | R3 299.9 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
3.90 USD
Yield on today's price
1.37%
Frequency
Quarterly
Next ex-dividend date
11 Dec 2026
| Ex-dividend date | Amount per share |
|---|---|
| 12 Mar 2027 (upcoming) | 1.0500 |
| 11 Dec 2026 (upcoming) | 1.0500 |
| 11 Sep 2026 | 1.0500 |
| 15 Jun 2026 | 1.0500 |
| 13 Mar 2026 | 0.9000 |
| 12 Dec 2025 | 0.9000 |
| 12 Sep 2025 | 0.9000 |
| 16 Jun 2025 | 0.9000 |
| 14 Mar 2025 | 0.7500 |
| 13 Dec 2024 | 0.7500 |
| 13 Sep 2024 | 0.7500 |
| 17 Jun 2024 | 0.7500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
GRMN SEC filings
29 Jul 2026
10-QSEC EDGAR
Quarterly report
29 Jul 2026
8-KSEC EDGAR
Results of operations
8 Jun 2026
8-KSEC EDGAR
Shareholder vote results; Other events
29 Apr 2026
10-QSEC EDGAR
Quarterly report
29 Apr 2026
8-KSEC EDGAR
Results of operations
22 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
18 Feb 2026
10-KSEC EDGAR
Annual report
18 Feb 2026
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.