Market Cap
US$16.4b
Last Updated
2019/10/15 23:46 UTC
Data Sources
Company Financials +
Executive Summary
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide.
Snowflake
Fundamentals
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
Market Performance
7 Day Return
3.6%
GRMN
0.7%
US Consumer Durables
1.3%
US Market
1 Year Return
36.7%
GRMN
33.5%
US Consumer Durables
5.9%
US Market
Return vs Industry: GRMN exceeded the US Consumer Durables industry which returned 33.5% over the past year.
Return vs Market: GRMN exceeded the US Market which returned 5.9% over the past year.
Shareholder returns
| GRMN | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.6% | 0.7% | 1.3% |
| 30 Day | 1.1% | 0.3% | -1.9% |
| 90 Day | 6.4% | 4.8% | -1.8% |
| 1 Year | 40.6%36.7% | 35.3%33.5% | 8.3%5.9% |
| 3 Year | 96.3%77.4% | 50.0%45.4% | 45.6%36.2% |
| 5 Year | 94.7%60.3% | 38.9%30.4% | 66.1%47.9% |
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 day ago | Simply Wall St
Is Garmin Ltd.’s (NASDAQ:GRMN) 18% ROCE Any Good?1 week ago | Simply Wall St
If You Like EPS Growth Then Check Out Garmin (NASDAQ:GRMN) Before It's Too Late2 weeks ago | Simply Wall St
Brief Commentary On Garmin Ltd.'s (NASDAQ:GRMN) FundamentalsValuation
Is Garmin undervalued compared to its fair value and its price relative to the market?
22.13x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Undervalued: GRMN ($86.3) is trading above our estimate of fair value ($76.61)
Significantly Undervalued: 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 (22.1x) compared to the Consumer Durables industry average (13.2x).
PE vs Market: GRMN is poor value based on its PE Ratio (22.1x) compared to the US market (17.5x).
Price to Earnings Growth Ratio
Low PEG Ratio: GRMN is poor value based on its PEG Ratio (5.5x)
Price to Book Ratio
PB vs Industry: GRMN is overvalued based on its PB Ratio (4x) compared to the US Consumer Durables industry average (1.6x).
Next Steps
Future Growth
How is Garmin forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
4.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GRMN's forecast earnings growth (4% per year) is above the savings rate (2.7%).
Earnings vs Market: GRMN's earnings (4% per year) are forecast to grow slower than the US market (14.4% per year).
High Growth Earnings: GRMN's earnings are forecast to grow, but not significantly.
Revenue vs Market: GRMN's revenue (4.5% per year) is forecast to grow slower than the US market (7.3% per year).
High Growth Revenue: GRMN's revenue (4.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
High Future ROE: GRMN's Return on Equity is forecast to be low in 3 years time (17.4%).
Next Steps
Past Performance
How has Garmin performed over the past 5 years?
12.9%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: GRMN's earnings have grown by 12.9% per year over the past 5 years.
Accelerating Growth: GRMN's earnings growth over the past year (20.4%) exceeds its 5-year average (12.9% per year).
Earnings vs Industry: GRMN earnings growth over the past year (20.4%) exceeded the Consumer Durables industry 13.5%.
Return on Equity
High ROE: GRMN's Return on Equity (17.8%) is considered low.
Return on Assets
ROA vs Industry: GRMN has a higher Return on Assets than the Consumer Durables industry average last year.
Return on Capital Employed
ROCE Improving: GRMN has improved its Return on Capital Employed over the past 3 years.
Next Steps
Financial Health
How is Garmin's financial position?
Financial Position Analysis
Short Term Liabilities: GRMN's short term assets ($2.5B) exceeds its short term liabilities ($1.0B)
Long Term Liabilities: GRMN's short term assets (2.5B) exceeds its long term liabilities (346.1M)
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
Inventory Level: GRMN has a high level of physical assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if GRMN's debt is covered by short term assets.
Next Steps
Dividend
What is Garmin's current dividend yield, its reliability and sustainability?
2.64%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Garmin before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: GRMN's dividend (2.64%) is higher than the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: GRMN's dividend (2.64%) is low compared to the top 25% of dividend payers in the US market (3.77%).
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 reasonable payout ratio (58.5%), GRMN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: GRMN's dividends in 3 years are forecast to be covered by earnings (55.2% payout ratio).
Next Steps
Management
What is the CEO of Garmin's salary, the management and board of directors tenure and is there insider trading?
13.0yrs
Average management tenure
CEO
Cliff Albert Pemble (53yo)
6.8yrs
Tenure
US$2,932,920
Compensation
Mr. Clifton Albert Pemble, also known as Cliff, has been the Chief Executive Officer of Garmin Ltd., since January 1, 2013 and President since October 2007. Mr. Pemble serves as the Managing Director of NA ...
CEO Compensation Analysis
Compensation vs. Market: Cliff's total compensation ($USD2.93M) is about average for companies of similar size in the US market ($USD11.20M).
Compensation vs Earnings: Cliff's compensation has increased by more than 20% in the past year.
Management Age and Tenure
13.0yrs
Average Tenure
59.5yo
Average Age
Experienced Management: GRMN's management team is seasoned and experienced (13 years average tenure).
Board Age and Tenure
10.8yrs
Average Tenure
65yo
Average Age
Experienced Board: GRMN's board of directors are seasoned and experienced ( 10.8 years average tenure).
Insider Trading
Insider Buying: GRMN insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Senior Key Executive Managing Director of EMEA |
| Shares | 316 |
| Max Price | US$80.39 |
| Entity | Individual |
| Role | Senior Key Executive Managing Director of EMEA |
| Shares | 1,500 |
| Max Price | US$83.51 |
Ownership Breakdown
Management Team
Min-Hwan Kao (70yo)
Co-Founder & Executive Chairman
- Tenure: 15.2yrs
- Compensation: US$382.69k
Andrew Etkind (63yo)
VP, General Counsel & Secretary
- Tenure: 19.2yrs
- Compensation: US$1.57m
Cliff Albert Pemble (53yo)
President
- Tenure: 6.8yrs
- Compensation: US$2.93m
Ted Gartner
Director of Corporate Communications
- Tenure: 0yrs
Sean Biddlecombe
Managing Director of EMEA
- Tenure: 0yrs
Doug Boessen (56yo)
CFO, Principal Accounting Officer & Treasurer
- Tenure: 5.3yrs
- Compensation: US$1.15m
Philip Straub
Executive VP & MD of Aviation - Garmin International
- Tenure: 0yrs
- Compensation: US$1.73m
Patrick Desbois
Executive Vice President of Operations - Garmin International
- Tenure: 0yrs
- Compensation: US$1.23m
Teri Seck
Manager of Investor Relations
- Tenure: 0yrs
Board Members
Min-Hwan Kao (70yo)
Co-Founder & Executive Chairman
- Tenure: 15.2yrs
- Compensation: US$382.69k
Cliff Albert Pemble (53yo)
President
- Tenure: 6.8yrs
- Compensation: US$2.93m
Joseph Hartnett (63yo)
Independent Director
- Tenure: 6.3yrs
- Compensation: US$239.96k
Charles Peffer (71yo)
Independent Director
- Tenure: 15.2yrs
- Compensation: US$244.96k
Cathy Lewis (67yo)
Director
- Tenure: 0.3yrs
Jonathan Burrell (55yo)
Director
- Tenure: 1.3yrs
- Compensation: US$201.21k
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$16.406b
- Shares outstanding: 190.10m
- Website: https://www.garmin.com
Number of Employees
Location
- Garmin Ltd.
- Mühlentalstrasse 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 | BASE (Buenos Aires Stock Exchange) | CEDEAR EACH 3 REP 1 COM CHF10.00 | AR | ARS | Apr 2019 |
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 | 2019/10/15 23:46 |
| End of Day Share Price | 2019/10/15 00:00 |
| Earnings | 2019/06/29 |
| Annual Earnings | 2018/12/29 |
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.