Garmin Ltd.
GRMN Technology Scientific & Technical Instruments
Garmin Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, up 15.1% from fiscal 2024. In the quarter to June 2026, revenue grew 11.4%, EPS grew 35.1% and free cash flow grew 116.3%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for three, operating cash flow growth for three.
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Garmin Ltd. (GRMN) Return on invested capital
Garmin Ltd.'s return on invested capital over the twelve months to 30 June 2026 was 20.8%, up 2.0 percentage points from fiscal 2025 (18.8%). Over the past ten years it has ranged from 13.5% (fiscal 2022) to 18.8% (fiscal 2025) — the current reading is the highest in ten years. That is above the Scientific & Technical Instruments industry median of 3.88% and above the Technology sector median of 0.00%.
Return on invested capital, annual
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Annual newest first
| Period | Return on invested capital | Change (points) |
|---|---|---|
| FY2025 | 18.8% | 0.18 |
| FY2024 | 18.6% | 5.10 |
| FY2023 | 13.5% | 0.01 |
| FY2022 | 13.5% | (4.32) |
| FY2021 | 17.8% | (0.11) |
| FY2020 | 18.0% | 0.51 |
| FY2019 | 17.4% | (0.07) |
| FY2018 | 17.5% | 2.25 |
| FY2017 | 15.3% | (1.91) |
| FY2016 | 17.2% | 2.22 |
Against its own ten years
Return on invested capital against peers
| Company | Return on invested capital |
|---|---|
| GRMN Garmin Ltd. | 20.8% |
| KEYS Keysight Technologies Inc. compare | 12.9% |
| CGNX Cognex Corporation compare | 12.2% |
| ESE ESCO Technologies Inc. compare | 7.76% |
| MKSI MKS Inc. compare | 6.74% |
| TRMB Trimble Inc. compare | 6.32% |
| TDY Teledyne Technologies Incorporated compare | 6.15% |
| FTV Fortive Corporation compare | 5.34% |
| COHR Coherent Corp. compare | 4.21% |
| Scientific & Technical Instruments industry median | 3.88% |
| Technology sector median | 0.00% |
| Market median | 0.00% |
What Return on invested capital is
Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.
TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)
More on GRMN
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement