Garmin Ltd.

GRMN

$277.18

+0.41%

2026-09-03 16:01:49 EDT+$1.14

Technology

Hardware, Equipment & Parts

NYSE

Active Trading

Garmin Ltd. specializes in the design, development, manufacturing, marketing, and global distribution of diverse wireless products and solutions. Its operations span across ...

Price Action of GRMN

$277.18

+0.41%+$1.14

High—

Low—

52W High-11.8%

Rel. vol—

Interval

Range6.2h

Volume—SMA5SMA10

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Garmin Ltd. (GRMN) is a global technology company focused on delivering navigation and connected-device experiences for customers who need accurate positioning, measurement, and situational awareness. The company’s product portfolio is organized around major application segments: Fitness/Sports (including running and multi-sport watches, cycling computers, activity trackers, smartwatches, and related accessories, supported ...Garmin Ltd. (GRMN) is a global technology company focused on delivering navigation and connected-device experiences for customers who need accurate positioning, measurement, and situational awareness. The company’s product portfolio is organized around major application segments: Fitness/Sports (including running and multi-sport watches, cycling computers, activity trackers, smartwatches, and related accessories, supported by Garmin Connect and Connect IQ), Outdoor (rugged adventure watches, portable GPS devices, golf instruments and companion applications, plus dog tracking and training systems), Aviation (aircraft avionics covering integrated cockpit systems, flight displays and instrumentation, navigation/communication, automated flight controls, safety and traffic/weather-avoidance features, ADS‑B solutions, data connectivity, and related support), Marine (chartplotters, multi-function displays, marine cartography, fish finders/sonar, autopilots, radar, compliant instrumentation/sensors, VHF radios, handheld and wearable marine devices, sailing products, and onboard entertainment), and Automotive (in-vehicle computing/infotainment, personal navigation units, and camera solutions). Garmin’s business model combines hardware design with embedded software, proprietary data, and ecosystems that retain customers over time. For example, Garmin Connect acts as a hub for activity/health data and performance analytics, while Connect IQ supports extensible applications and watch-face customization—effectively increasing device “stickiness” and reducing churn compared with single-purpose devices. Distribution is diversified through independent and online retailers, authorized dealers, distributors, service/installation centers, OEM channels, and Garmin’s direct e-commerce platform (garmin.com). From an engineering and cost structure perspective, Garmin’s products typically involve a bill of materials characteristic of electronics and embedded systems: GPS/GNSS components, sensors, RF/communication modules, display and input elements, power management circuitry, secure storage/MCUs, and industrial design/manufacturing capabilities. In addition, Aviation and Marine systems often require higher reliability and certification-driven engineering, which tends to increase development and compliance costs relative to consumer wearables. Garmin’s TTM financial metrics provided indicate strong operating profitability (gross margin ~0.601 and EBIT margin ~0.296) and meaningful cash generation efficiency (free cash flow margin metrics implied by positive free cash flow figures and strong cash conversion measures), alongside solid liquidity (current ratio ~3.028). Key leadership includes CEO Clifton Albert Pemble. The company was founded in 1989 (co-founded by Gary Burrell and Dr. Min Kao) and maintains a long-term focus on being an enduring company by creating superior products for automotive, aviation, marine, outdoor, and sports—positioning Garmin to benefit from markets where navigation accuracy and data-driven insights are core requirements. Overall, Garmin blends product innovation, software ecosystems, and broad channel reach to support recurring engagement with its devices and services.ExpandCollapse

Founded

1989

Employees

23000

CEO

Clifton Albert Pemble

Full Name

Garmin Ltd.

Sector

Technology

Industry

Hardware, Equipment & Parts

ROE

21.00%

Market Cap

$53.45B

Current Ratio

3.03

WACC

8.63%

ROIC

27.53%

Contact Information

https://www.garmin.com

41 52 630 1600

MUehlentalstrasse 2, Schaffhausen, SH 8200

Key Metrics of GRMN

Snapshot

Latest / TTM · 6 periods

Market Cap

$53.45B

ROCE

22.7%

EV / EBITDA

21.26x

+2.4% YoY

FCF Yield

2.9%

-0.6% YoY

Cash Conversion Cycle

241.4d

Current Ratio

3.03

Quick take

TTM —

Positive CCC

Financial Highlights of GRMN

Profitability trend

Latest / TTM · 6 periods

Gross Margin

60.1%

Net Margin

24.5%

P/E Ratio

28.43x

n/a

Debt / Equity

0.02

n/a

Current Ratio

3.03

Dividend Yield

1.4%

Understanding

TTM —

Interest coverage is weak

Calendar of GRMN

Upcoming

Sep 11, 2026In 7 days
Ex-dividend date
$4.20 per share
Sep 27, 2026In 23 days
Q3 FY2026 · Estimated results
Est. EPS $2.39 · Revenue $1.99B · 5 analysts
Dec 27, 2026
FY2026 · Estimated annual results
Est. EPS $10.15 · Revenue $8.11B · 5 analysts
Mar 26, 2027
Dividend payment
$4.20 per share

Recent history

Jul 29, 2026
Q2 FY2026 · Results reported
EPS $2.80 · Revenue $2.02B
View filing
Apr 29, 2026
Q1 FY2026 · Results reported
EPS $2.09 · Revenue $1.75B
View filing
Feb 18, 2026
FY2025 · Annual results
EPS $8.59 · Revenue $7.25B
View filing
Oct 29, 2025
Q3 FY2025 · Results reported
EPS $2.08 · Revenue $1.77B
View filing
Jul 30, 2025
Q2 FY2025 · Results reported
EPS $2.07 · Revenue $1.81B
View filing
Apr 30, 2025
Q1 FY2025 · Results reported
EPS $1.72 · Revenue $1.54B
View filing

Financial Statements of GRMN

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$7.2B	+15.1%	+15.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$1.7B	+17.9%	+33.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+58.7%	+0.1%	+5.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+25.9%	+2.3%	+23.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+23.0%	+2.5%	+16.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$1.4B	+10.0%	-55.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+18.8%	-4.4%	-61.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	2.2%	+5.3%	+9.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	3.63x	+2.6%	-30.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$11.0B	+14.2%	+4.3%

Actual vs Estimate

A Dec 27Q Sep 27

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	8.59 vs 8.20	+4.7%	2.80 vs 2.39	+17.2%
Revenue Surprise	$7.2B vs $7.1B	+1.4%	$2.0B vs $2.0B	+1.7%

Insider Transactions of GRMN

Acquisitions (A)

Since Aug 18, 2026

Disposals (D)

Since Aug 18, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Aug 18, 2026	Wang Cheng-Wei	officer: General Manager - Garmin Corp.	Registered Shares	D	1,390	$296.92
Aug 18, 2026	Wang Cheng-Wei	officer: General Manager - Garmin Corp.	Registered Shares	D	3,102	$297.84
Aug 18, 2026	Wang Cheng-Wei	officer: General Manager - Garmin Corp.	Registered Shares	D	538	$299.17
Aug 18, 2026	Wang Cheng-Wei	officer: General Manager - Garmin Corp.	Registered Shares	D	1,737	$300.14
Aug 18, 2026	Wang Cheng-Wei	officer: General Manager - Garmin Corp.	Registered Shares	D	2,260	$301.01

Earnings Call Transcript of GRMN

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Hello, everyone. Thank you for joining us, and welcome to the Garmin Limited Second Quarter 26 Earnings Call. After today's prepared remarks, we will host a question-and-answer session. To withdraw your question, press 1 again. I will now hand the conference over to Teri Seck, Director of Investor Relations. Please go ahead. Teri Seck: Good morning. We would like to welcome you to Garmin Limited's second quarter 26 Earnings Call. Please note that the earnings press release and related slides are available at Garmin's Investor Relations site on the Internet at www.garmin.com/investors. An archive of the webcast and related transcript will also be available on our website. This earnings call includes projections and other forward-looking statements regarding Garmin Limited and its business. Any statements regarding our future financial position revenues, segment growth rates, earnings, gross margins, operating margins, future dividends or share repurchases, market shares, product introductions, foreign currency, tariff impacts, future demand for our products and plans and objectives are forward looking statements. The forward-looking events and circumstances discussed in this earnings call may not occur and actual results could differ materially as a result of risk factors affecting Garmin. Information concerning these risk factors is contained in our Form 10-K filed with the Securities and Exchange Commission. Presenting on behalf of Garmin Limited this morning are Cliff Pemble, president and chief executive officer and Douglas Gerard Boessen, chief financial officer and treasurer. At this time, I would like to turn the call over to Cliff Pemble. Clifton Albert Pemble: Thank you, Teri, and good morning, everyone. As announced earlier today, Garmin achieved another quarter of record breaking financial results in a continuation of the positive trends we have been experiencing over the long term. Consolidated revenue increased 11%, to $2.02 billion We experienced robust expansion in consolidated gross and operating margins, the majority of which is attributable to favorable product mix. Margins also benefited from a $21 million tariff refund recognized in the second quarter. Even when excluding this benefit, our gross margin performance was impressive by any historical comparison reflecting the strength of our product lines, our vertically integrated business model, exceptional execution by our global team. Operating income increased 30% to $616 million. And pro forma EPS increased 29% to $2.81. Our first half performance exceeded expectations and gives us confidence to raise our full-year 2026 guidance. We now expect 2026 revenue of approximately $8.05 billion pro forma EPS of $10 per share. Services have been an area of strategic focus in recent years with each business segment pursuing unique opportunities to grow service revenue over the long term. We recently announced the strategic acquisition of Training Peaks, and TrainHeroic, …

Leadership Team of GRMN

10 executives

Name	Title	Compensation	Gender	Year Born	Status
Clifton Albert Pemble	President, Chief Executive Officer & Director	USD 1,444,269	Male	1966	Active
Philip I. Straub	Executive Vice President & MD of Aviation - Garmin International, Inc	USD 892,033	Male	1971	Active
Douglas Gerard Boessen	Chief Financial Officer & Treasurer	USD 844,846	Male	1963	Active
Bradley Trenkle	Co-Chief Operating Officer	USD 637,754	Male	1980	Active
Patrick G. Desbois	Co-Chief Operating Officer	USD 637,754	Male	1969	Active
Min-Hwan Kao	Co-Founder & Executive Chairman	USD 384,430	—	1949	Active
Teri Seck	Director of Investor Relations	—	Female	—	Active
Joshua H. Maxfield	Vice President, General Counsel & Secretary	—	Male	1973	Active
Ted Gartner	Director of Corporate Communications	—	Male	—	Active
Laurie Minard	Vice President of Human Resources	—	Female	1967	Active

Recent News of GRMN

The Motley Fool8/10/2026Neutral

Why Garmin Stock Soared in July and Is at an All-Time High

Fitness is Garmin's largest and fastest growing segment. Garmin's valuation needs to take its cash its stellar balance sheet into account.

WSJ8/9/2026Neutral

‘What About Garmin?' I Tested the Company's Answer to Whoop

The Cirqa health tracker, Garmin's screenless health band, offers lots of data with no distractions.

GuruFocus8/5/2026Neutral

GRMN DCF Analysis: Intrinsic Value $256 vs Price $307

On August 05, 2026, we conducted a DCF analysis for Garmin Ltd (GRMN), a company that has shown strong price performance recently, with a year-to-date increase

FXEmpire8/5/2026Neutral

Garmin Up Over 21% Since Latest Earnings Beat and Raise

Garmin Ltd. (GRMN) rises 5,212% since first institutional outlier inflow signal.

CNET8/4/2026Neutral

I Swapped My Premium Garmin for a $250 Watch (Here's What Happened) | All Things Mobile

The Forerunner 70 is Garmin's new, entry-level smart fitness watch. At $250, it's Garmin's cheapest Forerunner device, but does it behave like one?

Historical Employee Count of GRMN

Current

23,000

Change

+5.50%

Minimum

18,700

Maximum

23,000

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 27, 2025	23,000	10-K	Feb 18, 2026	View
Dec 28, 2024	21,800	10-K	Feb 19, 2025	View
Dec 30, 2023	19,900	10-K	Feb 21, 2024	View
Dec 31, 2022	19,700	10-K	Feb 22, 2023	View
Dec 25, 2021	18,700	10-K	Feb 16, 2022	View

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Garmin Ltd.