Inside the research
Garmin Ltd.
GRMN Research profile · latest available data
Price overview
$294.14
▼ -0.90 (-0.3%)
| 52w hi | $311.95 |
|---|---|
| 52w lo | $184.06 |
| Vol | 549.30K |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.48
| Short | +0.06 |
|---|---|
| Medium | +0.76 |
| Long | +0.74 |
computed 2026-09-27
Key fundamentals
Garmin Ltd.
Technology · Scientific & Technical Instruments
| Market cap | $56.73B |
|---|---|
| Enterprise value | $54.29B |
| Trailing P/E | 30.39x |
| Forward P/E | 26.42x |
| EV / EBITDA | 23.49x |
| P / S (ttm) | 7.39x |
| Profit margin | 24.5% |
| Return on equity | 21.9% |
| Revenue growth | +11.4% |
| Earnings growth | +35.3% |
| Debt / equity | 2.51 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.28 | |
| Sector | +0.19 | |
| Technical | +0.16 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
Garmin Ltd. designs, develops, manufactures, markets, and distributes a diverse range of GPS-enabled products and navigation, communications, sensor-based, and information products and services worldwide. It offers running; cycling products; smartwatch devices; scales and monitors; and sports timing and performance analysis; Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, which enables third parties to create applications that run on Garmin devices. It also provides adventure watches; outdoor handhelds and satellite communicators; golf devices; consumer automotive; dog devices; InReach and Gramin response; and dive devices. In addition, it designs, manufactures, and markets various aircraft avionics solutions, including integrated flight decks, electronic flight displays and instrumentation, navigation and communication products, automatic flight control systems and safety-enhancing technologies, audio control systems, engine indication systems, traffic awareness and avoidance solutions, ADS-B and transponders, weather information and avoidance solutions, datalink and connectivity solutions, and portable GPS navigators and wearables, as well as service products to the aviation market. Further, it offers chartplotters and multi-function displays, cartography, fishfinders, sonar, autopilot systems, radars, compliant instrument displays and sensors, VHF communication radios, handhelds and wearable devices, sailing, audio, digital switching, trolling motors, and lighting; and domain controllers and infotainment units, as well as software, map database, camera, wearable, and automotive solutions. The company sells its products through independent retailers, dealers, distributors, installation and repair shops, OEM, and online webshop. Garmin Ltd. was founded in 1989 and is based in Schaffhausen, Switzerland.
Risk Metrics
| Beta vs SPX | 1.12 |
|---|---|
| Corr SPX | 0.48 |
| Annual vol | 37.6% |
| Annual ret | +34.0% |
| Sharpe | 0.90 |
| Max DD | -28.2% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $261.71 |
|---|---|
| High / Low | $320.00 / $220.00 |
| Median | $249.00 |
| Analysts | 7 |
| Strong Buy | 0 | |
|---|---|---|
| Buy | 2 | |
| Hold | 5 | |
| Sell | 0 | |
| Strong Sell | 1 |
Recent rating actions
| 2026-04-30 | Barclays | → Equal-Weight |
| 2026-04-16 | JP Morgan | → Neutral |
| 2026-02-20 | Tigress Financial | → Strong Buy |
| 2026-02-19 | Morgan Stanley | → Equal-Weight |
| 2026-02-19 | JP Morgan | → Neutral |
| 2026-01-16 | Barclays | → Equal-Weight |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-29 | Earnings Release, Exhibits | read |
| 2026-06-08 | Shareholder Vote, Other Material Event | read |
| 2026-04-29 | Earnings Release, Exhibits | read |
| 2026-02-18 | Earnings Release, Exhibits | read |
| 2025-10-29 | Earnings Release, Exhibits | read |
| 2025-07-30 | Earnings Release, Exhibits | read |
| 2025-06-12 | Shareholder Vote, Other Material Event… | read |
| 2025-04-30 | Acquisition / Disposition, Exhibits | read |
| 2025-02-19 | Earnings Release, Exhibits | read |
| 2024-10-30 | Earnings Release, Exhibits | read |
| 2024-07-31 | Earnings Release, Exhibits | read |
| 2024-06-24 | Officer / Director Change, Reg FD Disclosure… | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 9 |
| Top-5 share | 97.4% |
| HHI | 3,960 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $1.68B | 7.06M |
| Fidelity / FMR LLC | $805.92M | 3.39M |
| AQR Capital Management | $213.40M | 914.64K |
| Capital Research / Capital World | $122.23M | 514.59K |
| Citadel Advisors | $90.22M | 379.82K |
| Renaissance Technologies | $33.81M | 142.34K |
| Millennium Management | $29.58M | 124.54K |
| Ark Invest | $14.65M | 61.68K |
| T. Rowe Price Group | $59.10K | 248.78K |
As of 2026-06-30
Connections
Subsidiarys: garmin.com
Dividends
| Yield (TTM) | 0.61% |
|---|---|
| $ / share (TTM) | $1.80 |
| 5y CAGR | +7.5% |
Annual dividend per share
| 2021 | $2.62 |
|---|---|
| 2022 | $2.86 |
| 2023 | $2.92 |
| 2024 | $2.98 |
| 2025 | $3.45 |
| 2026 | $0.90 |
Federal Contracts
| Amount | Agency | Description |
|---|---|---|
| $233.79K | Department of Transportation | 6973GH-21-D-00040 OVER AND ABOVE SUPPORT |
| $200.00K | Department of Defense | GARMIN SOFTWARE DEVELOPMENT KIT (SDK) SOFTWARE LICENSES AND SUPPORT. |
| $197.50K | National Aeronautics and Space Administration | GARMIN CUSTOM DATABASE PACKAGE |
| $188.00K | Department of Transportation | FUNDING NEW FY25 TASK ORDER AGAINST 6973GH-21-D-00040 AERONAVDATA INC FOR ILS-1 |
| $78.44K | Department of Justice | GARMIN AVIATION DATABASE SERVICES |
| $78.43K | Department of Justice | GARMIN DATABASE SVCS |
| $62.73K | Department of Transportation | CONTRACT 6973GH-21-D-00040 GARMIN INCREMENTAL FUNDING OPTION IV SEPTEMBER 1, 202 |
| $61.20K | Department of Transportation | INCREMENTAL FUNDING CONTRACT 6973GH-21-D-00040 |
SEC Filings
The Long Run
FY 2009–2025 · 17 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $7.25B | +6.2% | |
| Gross profit | $3.00B | +4.6% | |
| Operating income | $1.09B | +2.1% | |
| Net income | $1.66B | +13.6% | |
| Cash from ops | $1.63B | +5.5% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $296.51 | $297.19 | $291.89 | $294.14 | 549.30K |
| Sep 24 | $286.30 | $295.53 | $284.57 | $295.04 | 786.90K |
| Sep 23 | $283.77 | $288.22 | $283.09 | $287.58 | 593.50K |
| Sep 22 | $282.03 | $285.00 | $273.23 | $284.67 | 1.17M |
| Sep 21 | $276.24 | $280.57 | $272.71 | $280.31 | 566.90K |
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