Company Analysis

Garmin Ltd (GRMN)

NYSE: GRMN · Search, Detection, Navigation, Guidance, Aeronautical Sys · Schaffhausen · filing with the SEC since 2000
Grade6.7
◀ Past 4.9● Present 7.7▶ Future 7.1

The grade of Garmin Ltd

Nine metrics read from its own filings, by tense
Headline grade
6.7/10
◀ Past4.930% of the headline
● Present7.740% of the headline
▶ Future7.130% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

4.9/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
2.0/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2021-11-23.

weight 33% of this tense · 20th percentile among 10 sector filers · read for itself

From the record

Garmin Ltd's filings since 2017 show 1 warning event: a notice about its exchange listing (8-K item 3.01, the latest 2021-11-23) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.7/10

What has it actually done, year after year?

+11.1% a year over 9 filed years; profitable in 9 of 9.

weight 45% of this tense · 66th percentile among 9 sector filers · read for its customers

From the record

Garmin Ltd's 9 filed years say what it did: revenue went from $3.1 billion in fiscal 2017 to $7.2 billion in fiscal 2025, up 11.1% a year; it rose in 7 of 8 years; the deepest fall was 2% from fiscal 2021 to fiscal 2022; net income was positive in 9 of 9 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span11.1%bottom 44% of its family
  • the share of years revenue rosetop 28% of its family
  • the share of filed years with a profittop 33% of its family
  • the deepest fall from a revenue peak2.5%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
5.7/10

How has it treated the people who own it?

Share count grew 0.1% a year. 40% of cash flow returned. Insiders: 44 sales, 0 purchases.

weight 22% of this tense · 57th percentile among 7 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-27, Garmin Ltd's diluted share count grew about 0.1% a year, and dividends and buybacks returned about 40% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 44 sales (22 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-11-12 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 50% of its family
  • cash returned against operating cash flowtop 36% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

7.7/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
7.3/10

Is it financially healthy right now?

ROE 19%: 19¢ of profit per shareholder dollar. Leverage 18%: owes 18¢ per asset dollar.

weight 45% of this tense · 73rd percentile among 9 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-27, Garmin Ltd earned about 19 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 39 cents per dollar of everything the company owns. Leverage: it owed about 18 cents per dollar of assets, and net share issuance: its share count grew 0.2% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 28% of its family
  • return on equitytop 21% of its family
  • gross profit against assetstop 10% of its family
  • the share count against the year beforetop 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.9/10

How strong is its position in its industry?

top 21% of 9 in its family; net margin 23%.

weight 33% of this tense · 79th percentile among 9 sector filers · read for its customers

From the record

Garmin Ltd's standing among 9 graded names in its industry family: revenue of $7.2 billion in fiscal 2025 ranks in the top 28% by size; a net margin of 23% ranks in the top 6%; revenue growth of 14.3% a year over the last 3 filed years ranks in the top 28% (its annual reports).

What it rests on

  • revenue against the family$7.25Btop 28% of its family
  • net margin23.0%top 6% of its family
  • three-year revenue growth14.3%top 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
8.0/10

What are the people in charge doing?

top 20% of 8 in its family for leadership; chief executive since 2013.

weight 22% of this tense · 80th percentile among 8 sector filers · read for its shareholders

From the record

Garmin Ltd's leadership, from its insiders' filings and its current reports: the chief executive on the record is Pemble, Clifton A (President and CEO, as filed), filing under that title since 2013-08-01, 13.3 years (top 7% of its family); the 17 officers and directors filing in the last fifteen months have been on the record a median of 7.8 years (top 36%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 17 people in charge now (top 17%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge3 in three years among 17 peopletop 17% of its family
  • the median years the people in charge have filed7.8 yearstop 36% of its family
  • the chief executive's years on the record13.3 yearstop 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

7.1/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
7.3/10

How much room does it have to grow?

top 27% of 8 in its family for room to expand.

weight 45% of this tense · 73rd percentile among 8 sector filers · read for itself

From the record

Garmin Ltd's room to grow, from the newest filed statements (fiscal 2025): cash of $2.3 billion against no long-term debt tagged leaves 20.7% of its assets as net cash, top 39% of its family; cash from operations less capital spending is 18.8% of revenue (top 19%); a gross margin of 58.7% (top 30%); research spending of 15.5% of revenue (top 21%) (its annual report).

What it rests on

  • cash less debt against assets20.7%top 39% of its family
  • cash from operations less capital spending against revenue18.8%top 19% of its family
  • gross margin58.7%top 30% of its family
  • research spending against revenue15.5%top 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.8/10

What could actually drive growth from here?

top 32% of 9 in its family for growth drivers.

weight 33% of this tense · 68th percentile among 9 sector filers · read for its customers

From the record

Garmin Ltd's growth drivers, from the filed years to fiscal 2025: revenue grew 14.3% a year over the last three filed years against 11.1% over all 9, speeding up (top 19% of its family); the newest year grew 15.1% (top 17%); research spending grew 10.5% a year (top 21%); capital spending grew 3.5% a year (bottom 28%) (its annual reports). Garmin Ltd reported 5 lines of business in fiscal 2025: Fitness at $2.4 billion (33%), Outdoor at $2.1 billion (28%), Marine at $1.2 billion (16%), and 2 more; 5 of 5 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+3.2 points a yeartop 19% of its family
  • the newest year's revenue growth15.1%top 17% of its family
  • three-year growth of research spending10.5%top 21% of its family
  • three-year growth of capital spending3.5%bottom 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
7.1/10

Did its newest year beat what its own record pointed to?

top 29% of 8 in its family for expectations against reality.

weight 22% of this tense · 71st percentile among 8 sector filers · read for its shareholders

From the record

Garmin Ltd's newest year against its own record: revenue of $7.2 billion in fiscal 2025 came in 1% above the $7.2 billion its prior three years' pace pointed to (top 50% of its family); net income of $1.7 billion against a prior three-year average of $1.2 billion (top 19%); a net margin of 23% against 22.4% before (top 19%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace1.0%top 50% of its family
  • net income against the prior three years' average+36%top 19% of its family
  • net margin against its prior average+0.6 pointstop 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GRMN · research, not advice