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Garmin GRMN Return on invested capital

Return on invested capital at other companies

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8.6%+1.8pp
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94.3%+17.4pp
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22.1%+7.4pp
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0.9%+0.4pp
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17.2%-0.8pp

Other financials

Income statement

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Revenue$2.0B+11.4%
Gross profit$1.3B+18.3%
Operating income$615.5M+30.3%
Net income$541.9M+35.2%
EPS (diluted)$2.80+35.3%

Balance sheet

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Cash & equivalents$2.3B+12.6%
Total debt$178.0M+19.7%
Total equity$9.0B+11.1%
Total assets$11.4B+10.7%

Cash flow

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Operating cash flow$403.6M+133%
CapEx$127.8M+180%
Free cash flow$275.8M+116%

Valuation

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Market cap$58.35B+31.7%
Enterprise value$56.19B+32.6%
P/E31.1×+2.8×
P/S7.6×+1.1×

Profitability

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Gross margin60.1%+1.1pp
Operating margin27.6%+1.6pp
Net margin24.5%+1.3pp
FCF margin20.9%+4.2pp

Returns & leverage

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Return on equity21.9%+1.2pp
Debt / equity0.0×
Current ratio0.0×

Where this comes from

Calculated from Garmin’s reported figures.

Based on trailing twelve months.

The source filing: Garmin’s 10-Q, filed July 29, 2026. Open the filing →

Filed
Jul 29, 2026, 7:00 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-322114

FAQ

What is Garmin's return on invested capital?
Garmin (GRMN) reported return on invested capital of 26.8% in Q2 2026.
How has Garmin's return on invested capital changed year-over-year?
Garmin's return on invested capital increased by 3.4% year-over-year, from 25.9% to 26.8%.
What is the long-term trend for Garmin's return on invested capital?
Over 5 years (2020 to 2025), Garmin's return on invested capital has grown at a 0.4% compound annual growth rate (CAGR), from 23.7% to 24.2%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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