Market Cap
US$23.7b
Last Updated
2021/01/21 23:48 UTC
Data Sources
Company Financials +
Executive Summary
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with solid track record and pays a dividend.
Similar Companies
Share Price & News
How has Garmin's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GRMN is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: GRMN's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
2.4%
GRMN
8.0%
US Consumer Durables
1.4%
US Market
1 Year Return
23.1%
GRMN
24.1%
US Consumer Durables
22.6%
US Market
Return vs Industry: GRMN underperformed the US Consumer Durables industry which returned 24.7% over the past year.
Return vs Market: GRMN matched the US Market which returned 22.8% over the past year.
Shareholder returns
| GRMN | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.4% | 8.0% | 1.4% |
| 30 Day | 3.9% | 7.3% | 4.9% |
| 90 Day | 22.7% | 12.6% | 14.6% |
| 1 Year | 26.3%23.1% | 25.6%24.1% | 25.4%22.6% |
| 3 Year | 111.3%94.2% | 25.8%21.4% | 46.8%37.0% |
| 5 Year | 332.4%265.3% | 101.3%88.0% | 132.0%106.1% |
Long-Term Price Volatility Vs. Market
How volatile is Garmin's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Do Garmin's (NASDAQ:GRMN) Earnings Warrant Your Attention?3 weeks ago | Simply Wall St
What Type Of Shareholders Make Up Garmin Ltd.'s (NASDAQ:GRMN) Share Registry?1 month ago | Simply Wall St
What Does Garmin's (NASDAQ:GRMN) CEO Pay Reveal?Valuation
Is Garmin undervalued compared to its fair value and its price relative to the market?
23.16x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: GRMN ($123.78) is trading above our estimate of fair value ($87.54)
Significantly Below Fair Value: GRMN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: GRMN is poor value based on its PE Ratio (23.2x) compared to the US Consumer Durables industry average (16.2x).
PE vs Market: GRMN is poor value based on its PE Ratio (23.2x) compared to the US market (21.1x).
Price to Earnings Growth Ratio
PEG Ratio: GRMN is poor value based on its PEG Ratio (4.4x)
Price to Book Ratio
PB vs Industry: GRMN is overvalued based on its PB Ratio (4.6x) compared to the US Consumer Durables industry average (1.9x).
Next Steps
Future Growth
How is Garmin forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
5.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GRMN's forecast earnings growth (5.3% per year) is above the savings rate (2%).
Earnings vs Market: GRMN's earnings (5.3% per year) are forecast to grow slower than the US market (21.6% per year).
High Growth Earnings: GRMN's earnings are forecast to grow, but not significantly.
Revenue vs Market: GRMN's revenue (8.2% per year) is forecast to grow slower than the US market (10.5% per year).
High Growth Revenue: GRMN's revenue (8.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GRMN's Return on Equity is forecast to be low in 3 years time (17.6%).
Next Steps
Past Performance
How has Garmin performed over the past 5 years?
14.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GRMN has high quality earnings.
Growing Profit Margin: GRMN's current net profit margins (25.9%) are higher than last year (21.8%).
Past Earnings Growth Analysis
Earnings Trend: GRMN's earnings have grown by 14.4% per year over the past 5 years.
Accelerating Growth: GRMN's earnings growth over the past year (30.5%) exceeds its 5-year average (14.4% per year).
Earnings vs Industry: GRMN earnings growth over the past year (30.5%) exceeded the Consumer Durables industry 21%.
Return on Equity
High ROE: GRMN's Return on Equity (20%) is considered low.
Next Steps
Financial Health
How is Garmin's financial position?
Financial Position Analysis
Short Term Liabilities: GRMN's short term assets ($3.3B) exceed its short term liabilities ($1.1B).
Long Term Liabilities: GRMN's short term assets ($3.3B) exceed its long term liabilities ($323.4M).
Debt to Equity History and Analysis
Debt Level: GRMN is debt free.
Reducing Debt: GRMN has not had any debt for past 5 years.
Debt Coverage: GRMN has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: GRMN has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Next Steps
Dividend
What is Garmin current dividend yield, its reliability and sustainability?
1.97%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: GRMN's dividend (1.97%) is higher than the bottom 25% of dividend payers in the US market (1.37%).
High Dividend: GRMN's dividend (1.97%) is low compared to the top 25% of dividend payers in the US market (3.86%).
Stability and Growth of Payments
Stable Dividend: GRMN's dividend payments have been volatile in the past 10 years.
Growing Dividend: GRMN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (45.7%), GRMN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: GRMN's dividends in 3 years are forecast to be covered by earnings (56.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
14.2yrs
Average management tenure
CEO
Cliff Albert Pemble (54 yo)
8yrs
Tenure
US$3,233,412
Compensation
Mr. Clifton Albert Pemble, also known as Cliff, has been the Chief Executive Officer of Garmin Ltd., since January 1, 2013 and President since October 2007. Mr. Pemble serves as the Managing Director of NA...
CEO Compensation Analysis
Compensation vs Market: Cliff's total compensation ($USD3.23M) is below average for companies of similar size in the US market ($USD10.55M).
Compensation vs Earnings: Cliff's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder & Executive Chairman | 16.42yrs | US$383.31k | 9.79% $ 2.3b | |
| President | 8yrs | US$3.23m | 0.049% $ 11.6m | |
| CFO, Principal Accounting Officer & Treasurer | 6.5yrs | US$1.25m | 0.014% $ 3.2m | |
| VP, General Counsel & Secretary | 20.42yrs | US$1.62m | 0.026% $ 6.1m | |
| Executive VP & MD of Aviation - Garmin International | no data | US$1.80m | 0.028% $ 6.5m | |
| Executive Vice President of Operations - Garmin International | no data | US$1.36m | 0.013% $ 3.0m | |
| Manager of Investor Relations | no data | no data | no data | |
| Director of Corporate Communications | no data | no data | no data | |
| Managing Director of EMEA | no data | no data | 0.0026% $ 617.8k |
14.2yrs
Average Tenure
60.5yo
Average Age
Experienced Management: GRMN's management team is seasoned and experienced (14.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder & Executive Chairman | 16.42yrs | US$383.31k | 9.79% $ 2.3b | |
| President | 8yrs | US$3.23m | 0.049% $ 11.6m | |
| Independent Director | 7.58yrs | US$240.02k | 0.0077% $ 1.8m | |
| Independent Director | 16.42yrs | US$245.02k | 0.012% $ 2.9m | |
| Director | 1.58yrs | US$199.60k | 0.00079% $ 187.0k | |
| Director | 2.58yrs | US$201.21k | 11.58% $ 2.7b |
12.0yrs
Average Tenure
66yo
Average Age
Experienced Board: GRMN's board of directors are seasoned and experienced ( 12 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Garmin Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Garmin Ltd.
- Ticker: GRMN
- Exchange: NasdaqGS
- Founded: 1990
- Industry: Consumer Electronics
- Sector: Consumer Durables
- Market Cap: US$23.671b
- Shares outstanding: 191.24m
- Website: https://www.garmin.com
Number of Employees
Location
- Garmin Ltd.
- Muhlentalstrasse 2
- Schaffhausen
- Schaffhausen
- 8200
- Switzerland
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| GRMN | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Dec 2000 |
| GEY | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Dec 2000 |
| 0VQS | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Dec 2000 |
| GRMN N | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Dec 2000 |
| GRMN | BASE (Buenos Aires Stock Exchange) | CEDEAR EACH 3 REP 1 COM CHF10.00 | AR | ARS | Apr 2019 | |
| G1RM34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 2 REPR 1 COM | BR | BRL | Jan 2020 |
Biography
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Out...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/21 23:48 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/26 |
| Annual Earnings | 2019/12/28 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.