Garmin (GRMN) stock
Consumer Discretionary · Consumer Electronics
Garmin (GRMN) is a Consumer Electronics company in the Consumer Discretionary sector, headquartered in Schaffhausen, Switzerland. As of October 23, 2026, GRMN closed at $293.74, a market capitalization of $56.65 billion, the 212th largest company in the S&P 500. Over the last twelve months it generated $7.67 billion in revenue (+11% year over year) and $1.60 billion in free cash flow. The stock trades at 30.3x trailing earnings and 26.4x forward earnings.
- 1-year total return: +19.4% (dividends reinvested)
- 5-year return: +14.6% a year
- 52-week range: $186.67 – $314.28
- Gross margin 60.1%, operating margin 30.4%
- Dividend yield: 1.43%, 8 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 18th largest of 47 Consumer Discretionary stocks in the S&P 500
GRMN price chart
1Y price change: +17.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| GRMN | +2.1% | +46.6% | +19.4% | +44.7% | +14.6% | +22.8% | +16.9% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2000.
GRMN key statistics
- Market cap
- $56.6B
- #212 in S&P 500
- P/E (TTM)
- 30.3x
- Forward P/E
- 26.4x
- EPS (TTM)
- $9.69
- Revenue (TTM)
- $7.7B
- +11%
- Free cash flow
- $1.6B
- Gross margin
- 60.1%
- Operating margin
- 30.4%
- Return on equity
- 21.9%
- Dividend yield
- 1.43%
- 52-week range
- $186.67 – $314.28
- Beta
- 0.83
- Price / sales
- 7.4x
- EV / EBITDA
- 23.5x
- Debt / equity
- 0.03x
- Employees
- 23,000
GRMN report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth11.4%B
- Gross margin60.1%A
- Operating margin30.4%A
- FCF margin20.9%B
- Return on equity21.9%B
- Net debt / EBITDA-1.1xA
- Forward P/E26.4xC
- PEG ratio3.0xF
- Shareholder yield1.4%D
- Share count change / yr298.8%F
Garmin financials
Revenue went from $3.0B in fiscal 2016 to $7.2B in fiscal 2025, growing 10.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B | $3.1B | $3.3B | $3.8B | $4.2B | $5.0B | $4.9B | $5.2B | $6.3B | $7.2B |
| Gross profit | $1.7B | $1.8B | $2.0B | $2.2B | $2.5B | $2.9B | $2.8B | $3.0B | $3.7B | $4.3B |
| Operating income | $632.9M | $683.6M | $778.3M | $945.6M | $1.1B | $1.2B | $1.0B | $1.1B | $1.6B | $1.9B |
| Net income | $517.7M | $709.0M | $694.1M | $952.5M | $992.3M | $1.1B | $973.6M | $1.3B | $1.4B | $1.7B |
| EPS (diluted) | $2.73 | $3.76 | $3.66 | $4.99 | $5.17 | $5.61 | $5.04 | $6.71 | $7.30 | $8.59 |
| Free cash flow | $614.7M | $521.1M | $763.8M | $580.5M | $949.9M | $704.8M | $544.0M | $1.2B | $1.2B | $1.4B |
| Buybacks | $93.2M | $74.5M | — | — | — | — | — | — | — | — |
| Dividends paid | $481.5M | $383.0M | $296.1M | $417.3M | $450.6M | $491.5M | $679.1M | $558.8M | $572.4M | $663.9M |
| Diluted shares | 189,343 | 188.7M | 189.7M | 190.9M | 191,895 | 193,043 | 193.0M | 192.1M | 193.3M | 193.6M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into GRMN?
A reverse DCF asks what growth the current price requires. With an enterprise value of $54.2B and $1.6B of trailing free cash flow, Garmin needs to grow free cash flow about 24.1% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 7.5% a year over the last five years.
P/E ratio history
Current 34.2x vs. median 18.6x (10th–90th percentile 9.1x–27.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
GRMN dividend
- Dividend yield
- 1.43%
- Annual dividend
- $4.20
- Years of increases
- 8
- 5-yr dividend growth
- 7.5%
- per year
- Payout ratio
- 39%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
GRMN analyst price targets
7 analysts' average 12-month target is $306.71 (+4% vs. $293.74). Targets range from $231.00 to $370.00. 38% rate it a buy.
GRMN earnings
Next report: October 28, 2026. Garmin has beaten EPS estimates 5 quarters in a row. Last quarter's revenue was $2.0B (+11% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $2.29 | $2.81 | +22.5% |
| Apr 29, 2026 | $1.84 | $2.08 | +13.1% |
| Feb 18, 2026 | $2.39 | $2.79 | +16.6% |
| Oct 29, 2025 | $1.99 | $1.99 | — |
| Jul 30, 2025 | $1.90 | $2.17 | +14.4% |
| Apr 30, 2025 | $1.68 | $1.61 | -4.0% |
| Feb 19, 2025 | $2.02 | $2.41 | +19.2% |
| Oct 30, 2024 | $1.45 | $1.99 | +37.7% |
Stocks like GRMN
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GRMN news
- Garmin (GRMN) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures · Oct 23, 2026
- Guidance Raise And Momentum - Garmin Stock Has Both · Oct 22, 2026
- Garmin (GRMN) Laps the Stock Market: Here's Why · Oct 20, 2026
- First Cessna Citation CJ4 Gen3 Advances Toward Entry Into Service as First Production Unit Rolls out of the Factory · Oct 20, 2026
- New Garmin Edge 1060 cycling computer gives cyclists hands-free voice control · Oct 20, 2026
GRMN stock FAQ
What is GRMN's market cap?
Garmin's market capitalization is $56.65 billion as of October 23, 2026, ranking 212th in the S&P 500.
What is GRMN's P/E ratio?
GRMN trades at a trailing price-to-earnings ratio of 30.3x and a forward P/E of 26.4x. Its median P/E over the period we track is 18.6x.
Does GRMN pay a dividend?
Yes. Garmin pays $4.20 per share a year, a 1.43% yield. It has raised its dividend 8 years in a row. Dividends grew 7.5% a year over the last five years.
How much has GRMN stock returned?
Including reinvested dividends, GRMN returned +19.4% over one year, +14.6% a year over five years, +22.8% a year over ten years through October 23, 2026.
Is GRMN stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Garmin must grow free cash flow about 24% a year for the next decade. Its free cash flow grew 7% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the GRMN price target?
7 analysts cover GRMN with an average 12-month price target of $306.71, +4% from the current price. 38% of them rate it a buy.
When does GRMN report earnings?
Garmin is expected to report earnings on October 28, 2026. It has beaten EPS estimates 5 quarters in a row.
How many employees does Garmin have?
Garmin has about 23,000 full-time employees, or $333,541 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology