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GRMN

Garmin Ltd

US$282.46-1.53% (-US$4.38)
Day's range
US$281.56 – US$288.84
Day's volume
US$178.5m
52-week range
US$184.06 – US$311.95

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See how GRMN weighs in your net worth, what it has paid you and how far it is from your target allocation.

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GRMN in numbers

Market cap
US$54.5bn
P/E
31.38
P/B
5.88
Dividend yield (12m)
1.38%

The 12-month dividend yield of GRMN is 1.38%, below its 5-year average of 2.09%.

GRMN price history

02/10/202501/10/2026
Compare with

GRMN risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+18.42%+186.99%+105.37%
Volatility (annualised)41.98%32.15%29.08%
Largest drawdown-20.67%-20.67%-46.93%
Positive months6/1222/3633/60

How much did investing in GRMN return?

US$1,000.00 invested on 01/09/2021 would be worth US$2,053.70 today.

Value today in GRMN
US$2,053.70
Return over the period
+105.37%
Return per year
+15.48%
In the S&P 500
US$1,776.31

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

GRMN fundamentals

Valuation

  • P/E
    31.38
  • P/B
    5.88
  • EV/EBITDA
    —
  • EV/EBIT
    27.58
  • EV/Revenue
    7.30
  • P/EBIT
    27.58
  • P/S
    7.30
  • P/OCF
    31.15
  • P/FCF
    37.53
  • Earnings yield
    3.63%
  • PEG ratio
    —
  • Earnings per share
    US$9.00
  • Book value per share
    US$48.07

Debt

  • Net debt
    —
  • Net debt/EBITDA
    —
  • Net debt/Equity
    —
  • Debt/Equity
    —
  • Current ratio
    4.36
  • Quick ratio
    3.02
  • Cash ratio
    1.67

Efficiency

  • Gross margin
    59.14%
  • EBITDA margin
    —
  • Operating margin
    26.46%
  • Net margin
    23.26%
  • Asset turnover
    0.68

Profitability

  • ROE
    18.73%
  • ROA
    15.85%
  • ROIC
    17.63%
  • Payout
    43.32%

Growth

  • Revenue CAGR (5 years)
    11.13%
  • Earnings CAGR (5 years)
    10.56%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is GRMN's fair price?

Two classic value formulas, with today's numbers. The current price is US$282.46.

Graham's fair price
US$98.68
65.06% below the price

√(22.50 × US$9.00 × US$48.07)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$49.43
82.50% below the price

US$2.97 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

GRMN indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E23.4728.1219.1118.1424.2623.1019.5318.07
P/B4.355.063.522.854.294.163.883.01
Dividend yield1.70%1.44%2.27%3.10%1.92%2.01%2.30%3.32%
Earnings per shareUS$8.64US$7.34US$6.72US$5.09US$5.61US$5.18US$5.00US$3.50
Book value per shareUS$46.62US$40.79US$36.56US$32.42US$31.71US$28.79US$25.14US$21.02
ROE18.54%17.98%18.39%15.69%17.70%17.99%19.87%16.67%
ROIC17.27%16.91%15.58%15.14%17.87%17.19%19.03%15.76%
Gross margin58.74%58.70%57.48%57.75%58.01%59.27%59.45%59.14%
Net margin22.96%22.41%24.67%20.03%21.72%23.70%25.35%20.73%

GRMN financial statements

Line202520242023202220212020
Net revenueUS$7.2bnUS$6.3bnUS$5.2bnUS$4.9bnUS$5bnUS$4.2bn
Cost of sales-US$3bn-US$2.6bn-US$2.2bn-US$2.1bn-US$2.1bn-US$1.7bn
Gross profitUS$4.3bnUS$3.7bnUS$3bnUS$2.8bnUS$2.9bnUS$2.5bn
EBITDA——————
EBITUS$1.9bnUS$1.6bnUS$1.1bnUS$1bnUS$1.2bnUS$1.1bn
Net finance resultUS$138.5mUS$101.4mUS$108.2mUS$37.1m-US$11.8mUS$49.2m
Profit before taxUS$2bnUS$1.7bnUS$1.2bnUS$1.1bnUS$1.2bnUS$1.1bn
Income tax-US$350.6m-US$284mUS$89.3m-US$91.4m-US$124.6m-US$111.1m
Net incomeUS$1.7bnUS$1.4bnUS$1.3bnUS$973.6mUS$1.1bnUS$992.3m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does GRMN pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Dividend10/12/202624/12/2026US$1.05
Dividend11/03/202726/03/2027US$1.05

Dividend yield per year

  • 3.42%2017
  • 3.32%2018
  • 2.30%2019
  • 2.01%2020
  • 1.92%2021
  • 3.10%2022
  • 2.27%2023
  • 1.44%2024
  • 1.70%2025
  • 1.06%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend10/09/202625/09/2026US$1.05
Dividend12/06/202626/06/2026US$1.05
Dividend12/03/202627/03/2026US$0.90
Dividend11/12/202526/12/2025US$0.90
Dividend11/09/202526/09/2025US$0.90
Dividend13/06/202527/06/2025US$0.90
Dividend13/03/202528/03/2025US$0.75
Dividend12/12/202427/12/2024US$0.75
Dividend12/09/202427/09/2024US$0.75
Dividend14/06/202428/06/2024US$0.75
Dividend13/03/202429/03/2024US$0.73
Dividend13/12/202329/12/2023US$0.73
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend13/09/202329/09/2023US$0.73
Dividend15/06/202330/06/2023US$0.73
Dividend13/03/202331/03/2023US$0.73
Dividend13/12/202230/12/2022US$0.73
Dividend13/09/202230/09/2022US$0.73
Dividend16/06/202230/06/2022US$0.73
Dividend11/03/202231/03/2022US$0.67
Dividend13/12/202131/12/2021US$0.67
Dividend13/09/202130/09/2021US$0.67
Dividend11/06/202130/06/2021US$0.67
Dividend11/03/202131/03/2021US$0.61
Dividend11/12/202031/12/2020US$0.61
Dividend11/09/202030/09/2020US$0.61
Dividend11/06/202030/06/2020US$0.61
Dividend12/03/202031/03/2020US$0.57
Dividend12/12/201931/12/2019US$0.57
Dividend12/09/201930/09/2019US$0.57
Dividend13/06/201928/06/2019US$0.57
Dividend13/03/201929/03/2019US$0.53
Dividend12/12/201831/12/2018US$0.53
Dividend12/09/201828/09/2018US$0.53
Dividend14/06/201829/06/2018US$0.53
Dividend13/03/201830/03/2018US$0.51
Dividend13/12/201729/12/2017US$0.51
Dividend12/09/201729/09/2017US$0.51
Dividend14/06/201730/06/2017US$0.51
Dividend10/03/201731/03/2017US$0.51
Dividend09/12/201630/12/2016US$0.51

About Garmin

Sector
Manufacturing

Questions about GRMN

How much is GRMN today?

GRMN is at US$282.46 (-1.53% on the day), last traded on 01/10/2026.

How much did GRMN pay in dividends in 2025?

GRMN paid US$3.45 per share in 2025, a dividend yield of 1.70%.

When is the next GRMN dividend?

The next announced payment is US$1.05 per share on 24/12/2026.

What are the P/E and P/B of GRMN?

GRMN trades at a P/E of 31.38 and a P/B of 5.88.

How much did GRMN return in 12 months?

GRMN returned 18.42% in 12 months, with annualised volatility of 41.98% and a largest drawdown of -20.67%.