Garmin Financial Statements From 2010 to 2025

Garmin Balance Sheet		Trends
Current Value Last Year Historical Average  10 Year Trend Total Assets 10.1 B 9.6 B 6 B Slightly volatile Short and Long Term Debt Total 170.9 M 162.8 M 73.6 M Slightly volatile Other Current Liabilities 446.5 M 715 M 567.8 M Slightly volatile Total Current Liabilities 779.6 M 1.5 B 974.7 M Slightly volatile Total Stockholder Equity 8.2 B 7.8 B 4.7 B Slightly volatile Property Plant And Equipment Net 1.5 B 1.4 B 771.4 M Slightly volatile Retained Earnings 6.3 B 6 B 3.1 B Slightly volatile Accounts Payable 377.3 M 359.4 M 212.8 M Slightly volatile Cash 2.2 B 2.1 B 1.2 B Slightly volatile Non Current Assets Total 4.5 B 4.3 B 2.8 B Slightly volatile Cash And Short Term Investments 2.6 B 2.5 B 1.5 B Slightly volatile Net Receivables 584.3 M 983.4 M 635.8 M Slightly volatile Common Stock Shares Outstanding 161 M 193.5 M 191 M Slightly volatile Liabilities And Stockholders Equity 10.1 B 9.6 B 6 B Slightly volatile Non Current Liabilities Total 234.2 M 274.3 M 294.3 M Pretty Stable Inventory 1.5 B 1.5 B 770.7 M Slightly volatile Other Current Assets 396.9 M 378 M 219.2 M Slightly volatile Total Liabilities 1 B 1.8 B 1.3 B Slightly volatile Total Current Assets 5.6 B 5.3 B 3.1 B Slightly volatile Short Term Debt 41.2 M 27.9 M 30.8 M Slightly volatile Common Stock 18.5 M 19.5 M 573.2 M Slightly volatile Other Liabilities 282.1 M 230.8 M 260.7 M Very volatile Other Assets 647.4 M 616.6 M 387 M Slightly volatile Cash And Equivalents 934.7 M 1.5 B 1.1 B Slightly volatile Intangible Assets 132.6 M 154.2 M 129.7 M Slightly volatile Property Plant Equipment 1.4 B 1.3 B 703.7 M Slightly volatile Current Deferred Revenue 121.6 M 111 M 134.6 M Slightly volatile Common Stock Total Equity 19.6 M 20.7 M 573.3 M Slightly volatile Short Term Investments 442.3 M 421.3 M 242.9 M Slightly volatile Property Plant And Equipment Gross 2.7 B 2.5 B 976.7 M Slightly volatile Good Will 634.1 M 603.9 M 360.4 M Slightly volatile Net Tangible Assets 4.1 B 6.4 B 4.1 B Slightly volatile Capital Surpluse 2.5 B 2.3 B 1.3 B Slightly volatile Deferred Long Term Liabilities 153.9 M 149.5 M 142.3 M Very volatile Long Term Investments 1.3 B 1.2 B 1.2 B Very volatile Non Current Liabilities Other 737.2 K 776 K 103.6 M Slightly volatile Deferred Long Term Asset Charges 8.4 M 8.8 M 94.1 M Slightly volatile Net Invested Capital 6.2 B 7.8 B 4.9 B Slightly volatile Net Working Capital 2.8 B 3.8 B 2.1 B Slightly volatile Capital Stock 20.3 M 19.5 M 18.3 M Slightly volatile Capital Lease Obligations 102.2 M 134.9 M 68.9 M Slightly volatile
Garmin Income Statement		Trends
Current Value Last Year Historical Average  10 Year Trend Depreciation And Amortization 188.7 M 179.7 M 111.9 M Slightly volatile Interest Expense 31.4 M 46.9 M 36.3 M Slightly volatile Total Revenue 6.6 B 6.3 B 3.7 B Slightly volatile Gross Profit 3.9 B 3.7 B 2.1 B Slightly volatile Other Operating Expenses 4.9 B 4.7 B 2.9 B Slightly volatile Operating Income 1.7 B 1.6 B 858.2 M Slightly volatile EBIT 1.7 B 1.6 B 859.7 M Slightly volatile Research Development 1 B 993.6 M 581.5 M Slightly volatile EBITDA 1.9 B 1.8 B 971.7 M Slightly volatile Cost Of Revenue 1.3 B 2.6 B 1.5 B Slightly volatile Total Operating Expenses 2.2 B 2.1 B 1.3 B Slightly volatile Income Before Tax 1.8 B 1.7 B 900.7 M Slightly volatile Net Income 1.5 B 1.4 B 790.2 M Slightly volatile Selling General Administrative 963.2 M 917.4 M 528.4 M Slightly volatile Net Income Applicable To Common Shares 614.3 M 1.1 B 700.6 M Slightly volatile Selling And Marketing Expenses 173.8 M 191.6 M 159.8 M Slightly volatile Net Income From Continuing Ops 851.6 M 1.4 B 790.8 M Slightly volatile Interest Income 119.2 M 113.5 M 39 M Slightly volatile Net Interest Income 57.1 M 113.5 M 45.3 M Slightly volatile Reconciled Depreciation 150.1 M 179.7 M 115.3 M Slightly volatile
Garmin Cash Flow Statement		Trends
Current Value Last Year Historical Average  10 Year Trend Free Cash Flow 1.3 B 1.2 B 688.5 M Slightly volatile Begin Period Cash Flow 906.4 M 1.7 B 1.1 B Slightly volatile Depreciation 188.7 M 179.7 M 111.9 M Slightly volatile Dividends Paid 323.2 M 572.4 M 394.7 M Slightly volatile Capital Expenditures 112.7 M 193.6 M 132 M Slightly volatile Total Cash From Operating Activities 1.5 B 1.4 B 826.1 M Slightly volatile Net Income 1.5 B 1.4 B 790.2 M Slightly volatile End Period Cash Flow 2.2 B 2.1 B 1.2 B Slightly volatile
Financial Ratios		Trends
Current Value Last Year Historical Average  10 Year Trend Price To Sales Ratio 5.42 5.41 4.167 Slightly volatile Dividend Yield 0.0206 0.0204 0.0305 Slightly volatile PTB Ratio 4.84 4.03 3.3346 Slightly volatile Days Sales Outstanding 54.96 51.22 66.8624 Slightly volatile Book Value Per Share 34.62 32.97 25.7769 Slightly volatile Free Cash Flow Yield 0.0607 0.0552 0.051 Slightly volatile Operating Cash Flow Per Share 6.8 6.47 4.6362 Slightly volatile Stock Based Compensation To Revenue 0.0118 0.0175 0.0149 Slightly volatile Capex To Depreciation 1.67 1.26 1.2201 Slightly volatile PB Ratio 4.84 4.03 3.3346 Slightly volatile EV To Sales 5.13 5.06 4.0571 Pretty Stable Free Cash Flow Per Share 5.83 5.55 3.8752 Slightly volatile ROIC 0.22 0.19 0.1553 Slightly volatile Inventory Turnover 3.0 1.9 2.4358 Slightly volatile Net Income Per Share 6.37 6.06 4.3984 Slightly volatile Days Of Inventory On Hand 118 199 162 Slightly volatile Payables Turnover 6.2 7.88 7.6772 Slightly volatile Sales General And Administrative To Revenue 0.1 0.14 0.1373 Very volatile Research And Ddevelopement To Revenue 0.096 0.16 0.1502 Slightly volatile Capex To Revenue 0.048 0.0429 0.0368 Slightly volatile Cash Per Share 9.72 9.25 8.0661 Pretty Stable POCF Ratio 23.01 20.56 19.224 Slightly volatile Interest Coverage 14.43 15.19 25.0109 Slightly volatile Payout Ratio 0.36 0.39 0.563 Slightly volatile Capex To Operating Cash Flow 0.21 0.16 0.1751 Slightly volatile PFCF Ratio 33.63 23.95 24.1866 Slightly volatile Days Payables Outstanding 54.05 47.91 48.4979 Slightly volatile Income Quality 0.85 0.96 1.0682 Slightly volatile ROE 0.24 0.21 0.1718 Slightly volatile EV To Operating Cash Flow 21.82 19.24 18.7296 Pretty Stable PE Ratio 22.2 21.94 19.7274 Pretty Stable Return On Tangible Assets 0.2 0.19 0.1446 Slightly volatile EV To Free Cash Flow 32.25 22.41 23.5612 Slightly volatile Earnings Yield 0.0642 0.0603 0.0552 Very volatile Intangibles To Total Assets 0.0495 0.0832 0.0752 Slightly volatile Current Ratio 4.28 3.92 3.1079 Slightly volatile Tangible Book Value Per Share 30.7 29.23 23.0517 Slightly volatile Receivables Turnover 6.31 7.38 5.6259 Slightly volatile Graham Number 70.43 67.07 50.4127 Slightly volatile Shareholders Equity Per Share 34.62 32.97 25.7769 Slightly volatile Debt To Equity 0.0176 0.0185 0.0183 Slightly volatile Capex Per Share 0.96 0.92 0.7604 Slightly volatile Graham Net Net 8.2 7.81 5.6981 Slightly volatile Revenue Per Share 25.81 24.58 20.299 Slightly volatile Interest Debt Per Share 0.56 0.53 0.6402 Slightly volatile Debt To Assets 0.0144 0.0151 0.0148 Slightly volatile Enterprise Value Over EBITDA 16.25 20.85 15.3818 Pretty Stable Short Term Coverage Ratios 29.56 31.1207 48.7161 Slightly volatile Price Earnings Ratio 22.2 21.94 19.7274 Pretty Stable Operating Cycle 173 250 229 Slightly volatile Price Book Value Ratio 4.84 4.03 3.3346 Slightly volatile Days Of Payables Outstanding 54.05 47.91 48.4979 Slightly volatile Dividend Payout Ratio 0.36 0.39 0.563 Slightly volatile Price To Operating Cash Flows Ratio 23.01 20.56 19.224 Slightly volatile Price To Free Cash Flows Ratio 33.63 23.95 24.1866 Slightly volatile Pretax Profit Margin 0.31 0.26 0.2422 Slightly volatile Ebt Per Ebit 1.14 1.26 1.0671 Slightly volatile Operating Profit Margin 0.3 0.24 0.2309 Slightly volatile Company Equity Multiplier 1.02 1.1 1.2747 Slightly volatile Long Term Debt To Capitalization 2.0E-4 2.0E-4 0.0079 Slightly volatile Total Debt To Capitalization 0.0173 0.0182 0.018 Slightly volatile Return On Capital Employed 0.25 0.17 0.1732 Slightly volatile Debt Equity Ratio 0.0176 0.0185 0.0183 Slightly volatile Ebit Per Revenue 0.3 0.24 0.2309 Slightly volatile Quick Ratio 3.37 2.74 2.375 Slightly volatile Dividend Paid And Capex Coverage Ratio 2.88 2.1 1.6444 Very volatile Net Income Per E B T 0.68 0.97 0.8694 Pretty Stable Cash Ratio 1.93 1.49 1.2603 Pretty Stable Cash Conversion Cycle 134 213 182 Slightly volatile Operating Cash Flow Sales Ratio 0.28 0.3 0.2304 Pretty Stable Days Of Inventory Outstanding 118 199 162 Slightly volatile Days Of Sales Outstanding 54.96 51.22 66.8624 Slightly volatile Free Cash Flow Operating Cash Flow Ratio 0.65 0.77 0.8118 Slightly volatile Cash Flow Coverage Ratios 13.3 14.0 10.5714 Slightly volatile Price To Book Ratio 4.84 4.03 3.3346 Slightly volatile Fixed Asset Turnover 6.25 4.4 5.3281 Slightly volatile Capital Expenditure Coverage Ratio 8.75 8.12 7.699 Slightly volatile Price Cash Flow Ratio 23.01 20.56 19.224 Slightly volatile Enterprise Value Multiple 16.25 20.85 15.3818 Pretty Stable Debt Ratio 0.0144 0.0151 0.0148 Slightly volatile Cash Flow To Debt Ratio 13.3 14.0 10.5714 Slightly volatile Price Sales Ratio 5.42 5.41 4.167 Slightly volatile Return On Assets 0.19 0.17 0.1331 Slightly volatile Asset Turnover 0.77 0.7 0.6289 Slightly volatile Net Profit Margin 0.26 0.28 0.2144 Slightly volatile Gross Profit Margin 0.43 0.52 0.5523 Very volatile Price Fair Value 4.84 4.03 3.3346 Slightly volatile Return On Equity 0.24 0.21 0.1718 Slightly volatile
Garmin Valuation Data		Trends
Current Value Last Year Historical Average  10 Year Trend Market Cap 24.7 B 23.6 B 24.4 B Slightly volatile Enterprise Value 23.4 B 22.3 B 23.1 B Slightly volatile

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Pair Trading with Garmin

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Garmin position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Garmin will appreciate offsetting losses from the drop in the long position's value.When determining whether Garmin offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Garmin's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Garmin Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Garmin Stock:

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