Garmin Ltd
Research Garmin Ltd (GRMN) on Bullrun: valuation model: fairly valued, market cap USD 55.64B, P/E 29.7, dividend yield 1.3%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerGRMN
- ExchangeNYSE
- CountrySwitzerland
- SectorTechnology
- IndustryScientific & Technical Instruments
- CurrencyUSD
- Valuation signalfairly valued
- Market capUSD 55.64B
- P/E29.7
- Dividend yield1.3%
- Financial periodQ2 2026
- RevenueUSD 2.02B
- Net incomeUSD 541.92M
- Free cash flowUSD 275.78M
- Gross margin62.4%
Valuation Snapshot
Bullrun's latest valuation model marks Garmin Ltd as fairly valued; latest market cap is USD 55.64B; P/E is 29.7; dividend yield is 1.3%.
Peer valuation comparison
Latest P/E is 29.75x versus a Technology sector median of 28.57x (4.1% above).
Latest dividend yield is 1.29% versus a Technology sector median of 1.65% (21.8% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 7.25B | USD 1.66B | USD 1.36B | 58.7% | 8.59 | USD 2.28B | USD 164.84M | USD 8.97B |
| FY2024 | USD 6.30B | USD 1.41B | USD 1.24B | 58.7% | 7.3 | USD 2.08B | USD 134.89M | USD 7.85B |
| FY2023 | USD 5.23B | USD 1.29B | USD 1.18B | 57.5% | 6.71 | USD 1.69B | USD 113.04M | USD 7.01B |
| FY2022 | USD 4.86B | USD 973.59M | USD 543.97M | 57.7% | 5.04 | USD 1.28B | USD 106.95M | USD 6.20B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 55.64B | 29.7 | 1.3% | 3.75 |
| 2025 | 2025-12-31 | USD 39.07B | 23.6 | 1.3% | 2.55 |
| 2024 | 2024-12-31 | USD 39.70B | 28.2 | 1.4% | 2.98 |
| 2023 | 2023-12-29 | USD 24.59B | 23.7 | 2.3% | 2.92 |
| 2022 | 2022-12-30 | USD 17.69B | 18.5 | 3.1% | 2.86 |
| 2021 | 2021-12-31 | USD 26.23B | 24.3 | 1.9% | 2.62 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 3.75 USD, yield 1.3%.
| Year | Dividends/share |
|---|---|
| FY2025 | 2.55 USD |
| FY2024 | 2.98 USD |
| FY2023 | 2.92 USD |
| FY2022 | 1.34 USD |
About Garmin Ltd
Garmin Ltd. designs, develops, manufactures, markets, and distributes a diverse range of GPS-enabled products and navigation, communications, sensor-based, and information products and services worldwide. It offers running; cycling products; smartwatch devices; scales and monitors; and sports timing and performance analysis; Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data;
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Frequently asked questions
Is Garmin Ltd overvalued or undervalued?
Bullrun's valuation model currently marks Garmin Ltd as fairly valued.
What is Garmin Ltd's market cap?
Garmin Ltd's market capitalization is USD 55.64B.
What is Garmin Ltd's P/E ratio?
Garmin Ltd's price-to-earnings (P/E) ratio is 29.7.
Does Garmin Ltd pay a dividend?
Garmin Ltd has a dividend yield of 1.3%.
What does Garmin Ltd do?
Garmin Ltd. designs, develops, manufactures, markets, and distributes a diverse range of GPS-enabled products and navigation, communications, sensor-based, and information products and services worldwide. It offers running; cycling products; smartwatch devices; scales and monitors; and sports timing and performance analysis; Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, which enables third parties to create applications that run on Garmin devices.