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GRMN - Garmin Ltd.

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Garmin Ltd.

GRMN

NYSE

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms; and Connect IQ, an application development platform. The company's Outdoor segment offers adventure watches, outdoor handhelds, golf devices and mobile apps, and dog tracking and training devices. Its Aviation segment designs, manufactures, and markets various aircraft avionics solutions comprising integrated flight decks, electronic flight displays and instrumentation, navigation and communication products, automatic flight control systems and safety-enhancing technologies, audio control systems, engine indication systems, traffic awareness and avoidance solutions, ADS-B and transponder solutions, weather information and avoidance solutions, datalink and connectivity solutions, portable GPS navigators and wearables, and various services products. The company's Marine segment provides chartplotters and multi-function displays, cartography products, fish finders, sonar products, autopilot systems, radars, compliant instrument displays and sensors, VHF communication radios, handhelds and wearable devices, sailing products, entertainment, digital switching products, and trolling motors. Its Auto segment offers embedded computing models and infotainment systems; personal navigation devices; and cameras. The company sells its products through independent retailers, online retailers, dealers, distributors, installation and repair shops, and original equipment manufacturers, as well as an online webshop, garmin.com. Garmin Ltd. was founded in 1989 and is based in Schaffhausen, Switzerland.

191.78 USD

5 (2.61%)

GRMN Financial Statements

Year

2024

2023

2022

2021

Total Revenue

6.3B

5.23B

4.86B

4.98B

Cost of Revenue

2.6B

2.22B

2.05B

2.09B

Gross Profit

3.7B

3B

2.81B

2.89B

Operating Expenses

2.1B

1.91B

1.78B

1.67B

Research and Development

993.6M

904.7M

834.93M

840.02M

Selling, General & Administrative Expenses

1.11B

1.01B

944M

831.82M

Selling & Marketing Expenses

0

173.11M

168.04M

171.83M

General & Administrative Expenses

0

834.99M

775.96M

659.99M

Other Expenses

0

0

7.58M

4.87M

Operating Income

1.59B

1.09B

1.03B

1.22B

Total Other Income/Expenses Net

101.41M

108.2M

37.13M

-11.82M

Income Before Tax

1.7B

1.2B

1.06B

1.21B

Income Tax

283.96M

-89.28M

91.39M

124.6M

Net Income

1.41B

1.29B

973.59M

1.08B

Basic EPS

7.35

6.74

5.06

5.63

EPS Diluted

7.3

6.71

5.04

5.61

Basic Average Shares

192.14M

191.4M

192.54M

192.18M

Diluted Average Shares

193.47M

192.06M

193.04M

193.04M

EBITDA

1.77B

1.27B

1.19B

1.37B

Retained Earning Schedule

Year

2024

2023

2022

2021

Retained Earnings (Previous Year)

5.26B

4.73B

4.32B

3.75B

Net Income

1.41B

1.29B

973.59M

1.08B

Stock Repurchases

-62.35M

-98.99M

-223.74M

-30.98M

Dividend Paid

-572.36M

-558.77M

-679.1M

-491.46M

Retained Earnings

6B

5.26B

4.73B

4.32B

Other Distributions

100.95M

-127.75M

-490.06M

43.92M

PPE Schedule

Year

2024

2023

2022

2021

Gross PPE

1.4B

1.37B

1.29B

1.16B

Annual Depreciation

179.74M

177.57M

163.85M

154.82M

Capital Expenditure

-193.57M

-195.03M

-246.19M

-309.59M

Net PPE

1.42B

1.39B

1.37B

1.31B

Intangible and Goodwill Schedule

Year

2024

2023

2022

2021

Acquisitions and Adjustments

-4.53M

40.48M

-7.09M

-9.13M

Goodwill (Previous Year)

608.47M

567.99M

575.08M

584.21M

Goodwill

603.95M

608.47M

567.99M

575.08M

All figures are in USD.

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