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GRMN (Garmin) Stock Analysis
Buy, Hold or Sell?

Let's analyze Garmin together

I guess you are interested in Garmin Ltd. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

  • 📊 Fundamental Analysis (FA) – Garmin’s Financial Insights
  • 📈 Technical Analysis (TA) – Garmin’s Price Targets

I'm going to help you getting a better view of Garmin Ltd. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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1. Quick Overview

1.1. Quick analysis of Garmin (30 sec.)










1.2. What can you expect buying and holding a share of Garmin? (30 sec.)

How much money do you get?

How much money do you get?
$2.98
When do you have the money?
1 year
How often do you get paid?
97.5%

What is your share worth?

Current worth
$42.22
Expected worth in 1 year
$46.84
How sure are you?
75.0%

+ What do you gain per year?

Total Gains per Share
$7.60
Return On Investment
3.5%

For what price can you sell your share?

Current Price per Share
$215.92
Expected price per share
$197.36 - $239.99
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Garmin (5 min.)




Live pricePrice per Share (EOD)
$215.92
Intrinsic Value Per Share
$52.49 - $121.89
Total Value Per Share
$94.72 - $164.12

2.2. Growth of Garmin (5 min.)




Is Garmin growing?

Current yearPrevious yearGrowGrow %
How rich?$8.1b$6.6b$952m12.5%

How much money is Garmin making?

Current yearPrevious yearGrowGrow %
Making money$367m$340.8m$26.2m7.1%
Net Profit Margin22.7%24.6%--

How much money comes from the company's main activities?

2.3. Financial Health of Garmin (5 min.)




2.4. Comparing to competitors in the Scientific & Technical Instruments industry (5 min.)




  Industry Rankings (Scientific & Technical Instruments)  


Richest
#4 / 145

Most Revenue
#3 / 145

Most Profit
#2 / 145
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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Garmin?

Welcome investor! Garmin's management wants to use your money to grow the business. In return you get a share of Garmin.

First you should know what it really means to hold a share of Garmin. And how you can make/lose money.

Speculation

The Price per Share of Garmin is $215.92. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Garmin.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Garmin, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $42.22. Based on the TTM, the Book Value Change Per Share is $1.16 per quarter. Based on the YOY, the Book Value Change Per Share is $1.08 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.75 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Garmin.

How much money are you going to get?

 MRQTTMYOY3Y5Y10Y
 $% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share
Usd Eps1.720.8%1.900.9%1.770.8%1.640.8%1.530.7%1.220.6%
Usd Book Value Change Per Share1.720.8%1.160.5%1.080.5%0.830.4%0.830.4%0.600.3%
Usd Dividend Per Share0.750.3%0.750.3%0.730.3%0.790.4%0.720.3%0.620.3%
Usd Total Gains Per Share2.461.1%1.900.9%1.810.8%1.620.7%1.550.7%1.220.6%
Usd Price Per Share217.13-190.59-121.73-135.08-130.99-95.20-
Price to Earnings Ratio31.60-25.49-18.63-21.04-21.99-19.59-
Price-to-Total Gains Ratio88.12--18.11-5.56-4.50--74.61--34.30-
Price to Book Ratio5.14-4.81-3.49-3.75-3.96-3.45-
Price-to-Total Gains Ratio88.12--18.11-5.56-4.50--74.61--34.30-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share215.92
Number of shares4
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.750.72
Usd Book Value Change Per Share1.160.83
Usd Total Gains Per Share1.901.55
Gains per Quarter (4 shares)7.606.21
Gains per Year (4 shares)30.4124.84
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
1121820121315
2243750232740
3365580354065
44874110465390
560921405866115
6721111706980140
7841292008193165
89514823092106190
9107166260104119215
10119185290116133240

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%100.01.00.099.0%
Book Value Change Per Share3.01.00.075.0%9.03.00.075.0%15.05.00.075.0%30.010.00.075.0%74.025.02.073.3%
Dividend per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%39.00.01.097.5%69.00.032.068.3%
Total Gains per Share3.01.00.075.0%9.03.00.075.0%15.05.00.075.0%30.010.00.075.0%74.025.02.073.3%
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3.2. Key Performance Indicators

The key performance indicators of Garmin Ltd compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-3Y+/-5 Year+/-10 Year+/-
Book Value Change Per Share--1.7181.155+49%1.084+58%0.829+107%0.830+107%0.604+184%
Book Value Per Share--42.22439.476+7%34.700+22%35.246+20%32.778+29%26.296+61%
Current Ratio--4.0953.453+19%3.350+22%3.307+24%3.225+27%3.058+34%
Debt To Asset Ratio--0.1640.189-13%0.193-15%0.198-17%0.206-20%0.221-26%
Debt To Equity Ratio--0.1970.234-16%0.240-18%0.248-21%0.260-25%0.286-31%
Dividend Per Share--0.7460.746+0%0.726+3%0.789-5%0.723+3%0.617+21%
Enterprise Value--43128138210.00037543288440.000+15%23742544863.520+82%26365990194.033+64%25570951245.112+69%18504873342.396+133%
Eps--1.7181.898-9%1.770-3%1.639+5%1.534+12%1.218+41%
Ev To Ebitda Ratio--28.43921.260+34%17.283+65%18.508+54%18.753+52%16.428+73%
Ev To Sales Ratio--7.0245.832+20%4.335+62%4.620+52%4.841+45%4.163+69%
Free Cash Flow Per Share--1.9651.573+25%1.754+12%1.390+41%1.247+58%0.983+100%
Free Cash Flow To Equity Per Share--0.9080.700+30%0.975-7%0.446+104%0.434+109%0.288+215%
Gross Profit Margin--1.0001.0000%0.897+11%0.910+10%0.884+13%0.811+23%
Intrinsic Value_10Y_max--121.892----------
Intrinsic Value_10Y_min--52.495----------
Intrinsic Value_1Y_max--6.531----------
Intrinsic Value_1Y_min--4.185----------
Intrinsic Value_3Y_max--23.955----------
Intrinsic Value_3Y_min--13.581----------
Intrinsic Value_5Y_max--46.601----------
Intrinsic Value_5Y_min--24.007----------
Market Cap41573450992.640-1%42061772210.00036864374940.000+14%23443410113.520+79%26078892527.367+61%25282881695.112+66%18361352367.396+129%
Net Profit Margin--0.2170.227-4%0.246-12%0.224-3%0.224-3%0.216+1%
Operating Margin--0.2170.251-14%0.218-1%0.219-1%0.229-5%0.225-3%
Operating Ratio--0.7830.749+5%0.782+0%0.775+1%0.768+2%0.774+1%
Pb Ratio5.114-1%5.1424.813+7%3.489+47%3.749+37%3.963+30%3.455+49%
Pe Ratio31.424-1%31.60025.491+24%18.630+70%21.038+50%21.989+44%19.588+61%
Price Per Share215.920-1%217.130190.585+14%121.725+78%135.084+61%130.988+66%95.202+128%
Price To Free Cash Flow Ratio27.466-1%27.61931.851-13%17.920+54%112.262-75%85.483-68%51.855-47%
Price To Total Gains Ratio87.625-1%88.116-18.105+121%5.558+1485%4.499+1859%-74.608+185%-34.305+139%
Quick Ratio--2.9792.499+19%2.255+32%2.225+34%2.292+30%2.292+30%
Return On Assets--0.0340.039-13%0.041-17%0.037-8%0.037-8%0.035-4%
Return On Equity--0.0410.048-15%0.051-20%0.046-12%0.047-13%0.046-11%
Total Gains Per Share--2.4641.901+30%1.810+36%1.617+52%1.552+59%1.221+102%
Usd Book Value--8179478000.0007634851250.000+7%6682814750.000+22%6802010833.333+20%6325163100.000+29%5070083750.000+61%
Usd Book Value Change Per Share--1.7181.155+49%1.084+58%0.829+107%0.830+107%0.604+184%
Usd Book Value Per Share--42.22439.476+7%34.700+22%35.246+20%32.778+29%26.296+61%
Usd Dividend Per Share--0.7460.746+0%0.726+3%0.789-5%0.723+3%0.617+21%
Usd Enterprise Value--43128138210.00037543288440.000+15%23742544863.520+82%26365990194.033+64%25570951245.112+69%18504873342.396+133%
Usd Eps--1.7181.898-9%1.770-3%1.639+5%1.534+12%1.218+41%
Usd Free Cash Flow--380726000.000304372250.000+25%337827500.000+13%268129750.000+42%240500500.000+58%189549700.000+101%
Usd Free Cash Flow Per Share--1.9651.573+25%1.754+12%1.390+41%1.247+58%0.983+100%
Usd Free Cash Flow To Equity Per Share--0.9080.700+30%0.975-7%0.446+104%0.434+109%0.288+215%
Usd Market Cap41573450992.640-1%42061772210.00036864374940.000+14%23443410113.520+79%26078892527.367+61%25282881695.112+66%18361352367.396+129%
Usd Price Per Share215.920-1%217.130190.585+14%121.725+78%135.084+61%130.988+66%95.202+128%
Usd Profit--332769000.000367060750.000-9%340817500.000-2%316319416.667+5%296038550.000+12%233350100.000+43%
Usd Revenue--1535099000.0001612588250.000-5%1365619000.000+12%1395656333.333+10%1311689900.000+17%1063385050.000+44%
Usd Total Gains Per Share--2.4641.901+30%1.810+36%1.617+52%1.552+59%1.221+102%
 EOD+4 -4MRQTTM+27 -12YOY+26 -143Y+30 -105Y+32 -810Y+33 -7

3.3 Fundamental Score

Let's check the fundamental score of Garmin Ltd based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1531.424
Price to Book Ratio (EOD)Between0-15.114
Net Profit Margin (MRQ)Greater than00.217
Operating Margin (MRQ)Greater than00.217
Quick Ratio (MRQ)Greater than12.979
Current Ratio (MRQ)Greater than14.095
Debt to Asset Ratio (MRQ)Less than10.164
Debt to Equity Ratio (MRQ)Less than10.197
Return on Equity (MRQ)Greater than0.150.041
Return on Assets (MRQ)Greater than0.050.034
Total6/10 (60.0%)

3.4 Technical Score

Let's check the technical score of Garmin Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5064.160
Ma 20Greater thanMa 50208.014
Ma 50Greater thanMa 100203.140
Ma 100Greater thanMa 200205.824
OpenGreater thanClose216.190
Total4/5 (80.0%)

4. In-depth Analysis

4.1 About Garmin Ltd

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. The company offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; 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, enables third parties to create applications that run on Garmin devices. It also provides adventure watches; outdoor handhelds and satellite communicators; golf devices; consumer automotive; dog devices; InReach and Gramin response communication device; and Dive devices. In addition, the company designs, manufactures, and markets various aircraft avionics solutions, including 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 transponders, weather information and avoidance solutions, datalink and connectivity solutions, and portable GPS navigators and wearables, as well as service products to the aviation market. Further, it offers chartplotters and multi-function displays, cartography products, fishfinders, sonar products, autopilot systems, radars, compliant instrument displays and sensors, VHF communication radios, handhelds and wearable devices, sailing products, audio products, digital switching products, trolling motors, and lighting products; and domain controllers and infotainment units, as well as software, map database, cameras, wearables, and automotive solutions. The company sells its products through independent retailers, dealers, distributors, installation and repair shops, and original equipment manufacturers, as well as online webshop. Garmin Ltd. was founded in 1989 and is based in Schaffhausen, Switzerland.

Fundamental data was last updated by Penke on 2025-07-03 01:58:03.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating very efficient.
The company is efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is very able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is fair priced.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Garmin earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Garmin to the Scientific & Technical Instruments industry mean.
  • A Net Profit Margin of 21.7% means that $0.22 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Garmin Ltd:

  • The MRQ is 21.7%. The company is making a huge profit. +2
  • The TTM is 22.7%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ21.7%TTM22.7%-1.0%
TTM22.7%YOY24.6%-1.9%
TTM22.7%5Y22.4%+0.3%
5Y22.4%10Y21.6%+0.8%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ21.7%2.1%+19.6%
TTM22.7%3.7%+19.0%
YOY24.6%3.9%+20.7%
3Y22.4%3.8%+18.6%
5Y22.4%4.5%+17.9%
10Y21.6%5.1%+16.5%
4.3.1.2. Return on Assets

Shows how efficient Garmin is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Garmin to the Scientific & Technical Instruments industry mean.
  • 3.4% Return on Assets means that Garmin generated $0.03 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Garmin Ltd:

  • The MRQ is 3.4%. Using its assets, the company is less efficient in making profit.
  • The TTM is 3.9%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ3.4%TTM3.9%-0.5%
TTM3.9%YOY4.1%-0.2%
TTM3.9%5Y3.7%+0.2%
5Y3.7%10Y3.5%+0.2%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ3.4%0.2%+3.2%
TTM3.9%0.5%+3.4%
YOY4.1%0.6%+3.5%
3Y3.7%0.7%+3.0%
5Y3.7%0.8%+2.9%
10Y3.5%1.1%+2.4%
4.3.1.3. Return on Equity

Shows how efficient Garmin is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Garmin to the Scientific & Technical Instruments industry mean.
  • 4.1% Return on Equity means Garmin generated $0.04 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Garmin Ltd:

  • The MRQ is 4.1%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 4.8%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ4.1%TTM4.8%-0.7%
TTM4.8%YOY5.1%-0.3%
TTM4.8%5Y4.7%+0.1%
5Y4.7%10Y4.6%+0.1%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ4.1%0.4%+3.7%
TTM4.8%0.9%+3.9%
YOY5.1%1.2%+3.9%
3Y4.6%1.2%+3.4%
5Y4.7%1.6%+3.1%
10Y4.6%1.7%+2.9%
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4.3.2. Operating Efficiency of Garmin Ltd.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Garmin is operating .

  • Measures how much profit Garmin makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Garmin to the Scientific & Technical Instruments industry mean.
  • An Operating Margin of 21.7% means the company generated $0.22  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Garmin Ltd:

  • The MRQ is 21.7%. The company is operating efficient. +1
  • The TTM is 25.1%. The company is operating very efficient. +2
Trends
Current periodCompared to+/- 
MRQ21.7%TTM25.1%-3.4%
TTM25.1%YOY21.8%+3.3%
TTM25.1%5Y22.9%+2.2%
5Y22.9%10Y22.5%+0.4%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ21.7%4.1%+17.6%
TTM25.1%4.1%+21.0%
YOY21.8%2.5%+19.3%
3Y21.9%2.7%+19.2%
5Y22.9%4.6%+18.3%
10Y22.5%4.9%+17.6%
4.3.2.2. Operating Ratio

Measures how efficient Garmin is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Scientific & Technical Instruments industry mean).
  • An Operation Ratio of 0.78 means that the operating costs are $0.78 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Garmin Ltd:

  • The MRQ is 0.783. The company is efficient in keeping operating costs low. +1
  • The TTM is 0.749. The company is efficient in keeping operating costs low. +1
Trends
Current periodCompared to+/- 
MRQ0.783TTM0.749+0.034
TTM0.749YOY0.782-0.033
TTM0.7495Y0.768-0.018
5Y0.76810Y0.774-0.006
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7831.424-0.641
TTM0.7491.398-0.649
YOY0.7821.272-0.490
3Y0.7751.319-0.544
5Y0.7681.297-0.529
10Y0.7741.181-0.407
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4.4.3. Liquidity of Garmin Ltd.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Garmin is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Scientific & Technical Instruments industry mean).
  • A Current Ratio of 4.10 means the company has $4.10 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Garmin Ltd:

  • The MRQ is 4.095. The company is very able to pay all its short-term debts. +2
  • The TTM is 3.453. The company is very able to pay all its short-term debts. +2
Trends
Current periodCompared to+/- 
MRQ4.095TTM3.453+0.642
TTM3.453YOY3.350+0.103
TTM3.4535Y3.225+0.229
5Y3.22510Y3.058+0.166
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ4.0952.259+1.836
TTM3.4532.245+1.208
YOY3.3502.500+0.850
3Y3.3072.557+0.750
5Y3.2252.596+0.629
10Y3.0582.676+0.382
4.4.3.2. Quick Ratio

Measures if Garmin is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Garmin to the Scientific & Technical Instruments industry mean.
  • A Quick Ratio of 2.98 means the company can pay off $2.98 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Garmin Ltd:

  • The MRQ is 2.979. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 2.499. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ2.979TTM2.499+0.479
TTM2.499YOY2.255+0.244
TTM2.4995Y2.292+0.207
5Y2.29210Y2.2920.000
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ2.9790.968+2.011
TTM2.4991.101+1.398
YOY2.2551.338+0.917
3Y2.2251.312+0.913
5Y2.2921.428+0.864
10Y2.2921.649+0.643
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4.5.4. Solvency of Garmin Ltd.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Garmin assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Garmin to Scientific & Technical Instruments industry mean.
  • A Debt to Asset Ratio of 0.16 means that Garmin assets are financed with 16.4% credit (debt) and the remaining percentage (100% - 16.4%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Garmin Ltd:

  • The MRQ is 0.164. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.189. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.164TTM0.189-0.025
TTM0.189YOY0.193-0.003
TTM0.1895Y0.206-0.016
5Y0.20610Y0.221-0.015
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ0.1640.355-0.191
TTM0.1890.359-0.170
YOY0.1930.348-0.155
3Y0.1980.354-0.156
5Y0.2060.343-0.137
10Y0.2210.340-0.119
4.5.4.2. Debt to Equity Ratio

Measures if Garmin is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Garmin to the Scientific & Technical Instruments industry mean.
  • A Debt to Equity ratio of 19.7% means that company has $0.20 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Garmin Ltd:

  • The MRQ is 0.197. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.234. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.197TTM0.234-0.038
TTM0.234YOY0.240-0.005
TTM0.2345Y0.260-0.026
5Y0.26010Y0.286-0.025
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ0.1970.530-0.333
TTM0.2340.567-0.333
YOY0.2400.523-0.283
3Y0.2480.530-0.282
5Y0.2600.518-0.258
10Y0.2860.525-0.239
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Garmin generates.

  • Above 15 is considered overpriced but always compare Garmin to the Scientific & Technical Instruments industry mean.
  • A PE ratio of 31.60 means the investor is paying $31.60 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Garmin Ltd:

  • The EOD is 31.424. Based on the earnings, the company is overpriced. -1
  • The MRQ is 31.600. Based on the earnings, the company is overpriced. -1
  • The TTM is 25.491. Based on the earnings, the company is overpriced. -1
Trends
Current periodCompared to+/- 
EOD31.424MRQ31.600-0.176
MRQ31.600TTM25.491+6.109
TTM25.491YOY18.630+6.861
TTM25.4915Y21.989+3.502
5Y21.98910Y19.588+2.401
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD31.42417.087+14.337
MRQ31.60015.558+16.042
TTM25.49115.658+9.833
YOY18.63018.590+0.040
3Y21.03814.779+6.259
5Y21.98915.930+6.059
10Y19.58826.587-6.999
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Garmin Ltd:

  • The EOD is 27.466. Based on how much money comes from the company's main activities, the company is underpriced. +1
  • The MRQ is 27.619. Based on how much money comes from the company's main activities, the company is underpriced. +1
  • The TTM is 31.851. Based on how much money comes from the company's main activities, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD27.466MRQ27.619-0.154
MRQ27.619TTM31.851-4.232
TTM31.851YOY17.920+13.932
TTM31.8515Y85.483-53.632
5Y85.48310Y51.855+33.628
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD27.466-0.572+28.038
MRQ27.619-1.120+28.739
TTM31.8516.753+25.098
YOY17.9200.097+17.823
3Y112.262-0.477+112.739
5Y85.483-0.643+86.126
10Y51.8552.757+49.098
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Garmin is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Scientific & Technical Instruments industry mean).
  • A PB ratio of 5.14 means the investor is paying $5.14 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Garmin Ltd:

  • The EOD is 5.114. Based on the equity, the company is overpriced. -1
  • The MRQ is 5.142. Based on the equity, the company is overpriced. -1
  • The TTM is 4.813. Based on the equity, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD5.114MRQ5.142-0.029
MRQ5.142TTM4.813+0.330
TTM4.813YOY3.489+1.323
TTM4.8135Y3.963+0.850
5Y3.96310Y3.455+0.508
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD5.1143.106+2.008
MRQ5.1422.854+2.288
TTM4.8132.716+2.097
YOY3.4892.683+0.806
3Y3.7492.744+1.005
5Y3.9633.147+0.816
10Y3.4553.953-0.498
4.6.2. Total Gains per Share

2.4. Latest News of Garmin Ltd

Does Garmin Ltd still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Garmin Ltd to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2025-07-08
17:00
Validea's Top Consumer Discretionary Stocks Based On Warren Buffett - 7/8/2025Read
2025-07-04
17:40
FLEX or GRMN: Which Is the Better Value Stock Right Now?Read
2025-06-29
14:33
Garmin (NYSE:GRMN) Is Due To Pay A Dividend Of $0.90Read
2025-06-28
00:15
Garmin (GRMN) Outperforms Broader Market: What You Need to KnowRead
2025-06-25
20:21
Institutional investors are Garmin Ltd.'s (NYSE:GRMN) biggest bettors and were rewarded after last week's US$1.3b market cap gainRead
2025-06-17
13:20
Meet Edge MTB, Garmin's first-ever bike computer made for mountain bikersRead
2025-06-17
13:02
Meet Edge MTB, Garmin's first-ever bike computer made for mountain bikersRead
2025-06-15
12:06
Caesars Entertainment most shorted S&P 500 consumer discretionary stock in May; Amazon least shortedRead

4.7 Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Garmin Ltd.

4.8.1. Institutions holding Garmin Ltd

Institutions are holding 57.388% of the shares of Garmin Ltd.

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2025-03-31Vanguard Group Inc9.56950.0723184251663574581.9784
2025-03-31BlackRock Inc7.96550.069915336871-220516-1.4174
2025-03-31State Street Corp3.76530.06497249833321230.4451
2025-03-31Artisan Partners Limited Partnership2.87521.94185535989-106106-1.8806
2025-03-31Geode Capital Management, LLC2.36170.077445471901083942.442
2025-03-31FMR Inc2.12610.0568409367640545810.9933
2025-03-31JPMorgan Chase & Co1.09610.03352110519-70938-3.2519
2024-12-31NORGES BANK0.99760.052192079722340.1164
2025-03-31Morgan Stanley - Brokerage Accounts0.97170.029118709481386808.0057
2025-03-31Amvescap Plc.0.96710.076618621531532678.9688
2025-03-31Northern Trust Corp0.88170.05471697671-10824-0.6335
2025-03-31AQR Capital Management LLC0.82330.3509158517070096779.2767
2025-03-31Dimensional Fund Advisors, Inc.0.75560.07851454758-102056-6.5554
2025-03-31Disciplined Growth Investors Inc0.73456.35511414152-5883-0.4143
2025-03-31UBS Asset Mgmt Americas Inc0.62890.0673121082721173121.1923
2025-03-31Legal & General Group PLC0.60170.06851158589296092.6226
2025-03-31Wells Fargo & Co0.59450.05651144589360773.2545
2025-03-31UBS Group AG0.5020.038696665136109459.6301
2025-03-31Bank of New York Mellon Corp0.47840.0396921162-35717-3.7327
2025-03-31Pictet Asset Manangement SA0.46780.217390075536203767.2034
Total 39.16429.801375407466+2347089+3.1%

4.9.2. Funds holding Garmin Ltd

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2025-05-31Vanguard Total Stock Mkt Idx Inv2.56660.055494183129640.06
2025-05-31Vanguard Institutional 500 Index Trust2.26870.06224368151304190.7013
2025-03-31Artisan International Value2.25262.53244337232-28072-0.6431
2025-03-31Artisan International Value Investor2.25262.53244337232-28072-0.6431
2025-05-31Vanguard Mid Cap Index Institutional1.75490.37053378856320590.9579
2025-04-30Fidelity 500 Index1.00220.0607192970323820.1236
2025-05-31SPDR® S&P 500® ETF0.95540.06221839528-8190-0.4432
2025-05-31iShares Core S&P 500 ETF0.9240.062177907600
2025-05-31iShares MSCI USA Quality Factor ETF0.81740.6245157390300
2025-05-31Vanguard Value Index Inv0.70220.1456135212214530.1076
2025-05-31Vanguard Mid-Cap Growth ETF0.62080.8174119534432180.2699
2025-05-31Vanguard Institutional Index I0.48950.0621942580-556-0.059
2025-04-30Fidelity Growth Compy Commingled Pl S0.45740.2065880732-160200-15.3901
2025-05-31The Consumer Discret Sel SectSPDR® ETF0.45150.82218692624340.05
2025-05-31State St S&P 500® Indx SL Cl III0.42380.0616816016137001.7076
2025-04-30Fidelity Growth Company Fund0.34590.2113666040-113100-14.516
2025-05-30Invesco S&P 500® Equal Weight ETF0.33220.181763959621760.3414
2025-04-30JPMorgan Growth Advantage A0.31140.5832599539-6664-1.0993
2025-05-31Vanguard High Dividend Yield ETF0.30640.164458999216930.2878
2025-03-31Blackrock Eq Idx Fund CF0.29950.0698576757-3483-0.6003
Total 19.5359.687637613492-257839-0.7%

5.3. Insider Transactions

Insiders are holding 15.435% of the shares of Garmin Ltd.

DateOwnerTypeAmountPricePost Transaction AmountLink
2025-06-16Clifton A PembleSELL7899203.25
2025-03-10Susan LymanSELL2829215.51
2025-02-28Douglas G BoessenSELL2763226.55
2025-02-28Matthew MunnSELL4637225.31
2025-02-26Clifton A PembleSELL7202227.14
2025-02-26Patrick DesboisSELL6911227.15
2024-12-20Douglas G BoessenSELL1761207.99
2024-11-07Sean BiddlecombeSELL587210.1
2024-08-30Philip StraubSELL2750181.46
2024-08-28Laurie A MinardSELL87181.78
2024-08-21Cheng-wei WangSELL10055177.16
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5. Financial Statements




5.1. Latest Balance Sheet

Balance Sheet of 2025-03-31. Currency in USD. All numbers in thousands.

Summary
Total Assets9,787,622
Total Liabilities1,608,144
Total Stockholder Equity8,179,478
 As reported
Total Liabilities 1,608,144
Total Stockholder Equity+ 8,179,478
Total Assets = 9,787,622

Assets

Total Assets9,787,622
Total Current Assets5,445,184
Long-term Assets4,342,438
Total Current Assets
Cash And Cash Equivalents 2,175,515
Short-term Investments 498,995
Net Receivables 787,133
Inventory 1,581,952
Other Current Assets 401,589
Total Current Assets  (as reported)5,445,184
Total Current Assets  (calculated)5,445,184
+/-0
Long-term Assets
Property Plant Equipment 1,403,916
Goodwill 616,955
Long Term Investments 1,226,464
Intangible Assets 150,026
Long-term Assets Other 113,260
Long-term Assets  (as reported)4,342,438
Long-term Assets  (calculated)3,510,621
+/- 831,817

Liabilities & Shareholders' Equity

Total Current Liabilities1,329,706
Long-term Liabilities278,438
Total Stockholder Equity8,179,478
Total Current Liabilities
Accounts payable 344,804
Other Current Liabilities 546,969
Total Current Liabilities  (as reported)1,329,706
Total Current Liabilities  (calculated)891,773
+/- 437,933
Long-term Liabilities
Capital Lease Obligations Min Short Term Debt140,235
Long-term Liabilities Other 803
Long-term Liabilities  (as reported)278,438
Long-term Liabilities  (calculated)141,038
+/- 137,400
Total Stockholder Equity
Common Stock19,490
Retained Earnings 6,331,735
Accumulated Other Comprehensive Income -125,911
Other Stockholders Equity 1,954,164
Total Stockholder Equity (as reported)8,179,478
Total Stockholder Equity (calculated)8,179,478
+/-0
Other
Capital Stock19,490
Cash and Short Term Investments 2,674,510
Common Stock Shares Outstanding 193,717
Current Deferred Revenue105,716
Liabilities and Stockholders Equity 9,787,622
Net Debt -2,035,280
Net Invested Capital 8,179,478
Net Working Capital 4,115,478
Property Plant and Equipment Gross 2,578,495
Short Long Term Debt Total 140,235



5.2. Balance Sheets Structured

Currency in USD. All numbers in thousands.

 Trend2025-03-312024-12-312024-09-302024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-09-302003-06-302003-03-312002-12-312002-09-302002-06-302002-03-312001-12-312001-09-302001-06-302001-03-312000-12-312000-09-302000-06-302000-03-31
> Total Assets 
0
0
340,104
463,347
478,885
498,504
523,299
532,155
569,479
596,708
628,838
698,115
738,899
773,602
824,987
856,945
898,900
968,966
1,058,051
1,117,391
1,153,231
1,229,223
1,304,726
1,362,235
1,471,499
1,661,857
1,799,537
1,897,020
2,017,168
2,444,601
2,645,500
3,291,460
3,083,398
3,132,031
3,015,313
2,924,581
2,794,189
3,144,366
3,516,551
3,825,874
3,551,528
3,431,359
3,658,018
3,988,688
3,937,509
4,198,455
4,334,885
4,471,338
4,324,793
4,462,762
4,630,742
4,819,124
4,570,420
4,599,181
4,823,226
4,879,603
4,738,914
4,741,802
4,669,364
4,693,303
4,543,279
4,423,409
4,388,472
4,499,391
4,410,324
4,527,583
4,591,906
4,525,133
4,600,681
4,748,772
4,835,391
5,010,260
4,855,222
4,988,720
5,095,967
5,382,858
5,280,145
5,524,783
5,755,105
6,166,799
6,053,993
6,220,042
6,550,669
7,031,373
6,999,729
7,402,724
7,571,489
7,854,427
7,703,249
7,813,696
7,627,606
7,731,170
7,726,031
7,871,800
7,965,022
8,603,569
8,633,880
8,883,322
9,347,732
9,630,527
9,787,622
9,787,6229,630,5279,347,7328,883,3228,633,8808,603,5697,965,0227,871,8007,726,0317,731,1707,627,6067,813,6967,703,2497,854,4277,571,4897,402,7246,999,7297,031,3736,550,6696,220,0426,053,9936,166,7995,755,1055,524,7835,280,1455,382,8585,095,9674,988,7204,855,2225,010,2604,835,3914,748,7724,600,6814,525,1334,591,9064,527,5834,410,3244,499,3914,388,4724,423,4094,543,2794,693,3034,669,3644,741,8024,738,9144,879,6034,823,2264,599,1814,570,4204,819,1244,630,7424,462,7624,324,7934,471,3384,334,8854,198,4553,937,5093,988,6883,658,0183,431,3593,551,5283,825,8743,516,5513,144,3662,794,1892,924,5813,015,3133,132,0313,083,3983,291,4602,645,5002,444,6012,017,1681,897,0201,799,5371,661,8571,471,4991,362,2351,304,7261,229,2231,153,2311,117,3911,058,051968,966898,900856,945824,987773,602738,899698,115628,838596,708569,479532,155523,299498,504478,885463,347340,10400
   > Total Current Assets 
0
0
0
388,021
402,846
423,349
439,465
352,735
367,065
416,145
379,122
465,226
465,909
488,976
503,541
539,928
545,413
542,697
621,622
636,971
623,565
719,310
757,723
801,167
844,460
1,023,863
1,132,345
1,169,084
1,270,538
1,688,309
1,857,932
2,332,775
1,931,125
2,117,571
2,036,578
1,984,425
1,827,832
1,944,804
2,078,936
2,393,871
2,209,359
2,159,517
2,371,398
2,498,755
2,192,837
2,462,527
2,553,914
2,569,770
2,349,266
2,381,214
2,473,048
2,536,120
2,313,955
2,346,259
2,444,638
2,595,636
2,387,495
2,496,569
2,421,485
2,510,976
2,500,307
2,283,296
2,231,953
2,211,087
2,129,133
2,212,587
2,247,459
2,263,016
2,156,910
2,304,934
2,332,474
2,363,925
2,191,283
2,323,582
2,400,619
2,665,368
2,512,137
2,460,578
2,757,843
3,057,850
2,928,886
3,258,439
3,341,870
3,669,351
3,557,920
3,883,765
4,008,966
4,261,772
4,082,203
4,122,617
3,953,725
3,955,151
3,963,998
4,111,001
4,156,914
4,464,140
4,498,955
4,676,272
5,209,505
5,336,153
5,445,184
5,445,1845,336,1535,209,5054,676,2724,498,9554,464,1404,156,9144,111,0013,963,9983,955,1513,953,7254,122,6174,082,2034,261,7724,008,9663,883,7653,557,9203,669,3513,341,8703,258,4392,928,8863,057,8502,757,8432,460,5782,512,1372,665,3682,400,6192,323,5822,191,2832,363,9252,332,4742,304,9342,156,9102,263,0162,247,4592,212,5872,129,1332,211,0872,231,9532,283,2962,500,3072,510,9762,421,4852,496,5692,387,4952,595,6362,444,6382,346,2592,313,9552,536,1202,473,0482,381,2142,349,2662,569,7702,553,9142,462,5272,192,8372,498,7552,371,3982,159,5172,209,3592,393,8712,078,9361,944,8041,827,8321,984,4252,036,5782,117,5711,931,1252,332,7751,857,9321,688,3091,270,5381,169,0841,132,3451,023,863844,460801,167757,723719,310623,565636,971621,622542,697545,413539,928503,541488,976465,909465,226379,122416,145367,065352,735439,465423,349402,846388,021000
       Cash And Cash Equivalents 
0
0
0
251,731
253,019
278,777
313,269
192,842
225,879
146,575
194,444
216,768
251,148
266,479
244,673
274,329
282,366
242,716
297,504
249,909
249,193
300,233
331,245
334,352
314,623
373,944
351,723
337,321
479,380
667,671
703,749
707,689
598,815
624,482
521,540
696,335
922,329
958,909
1,011,763
1,091,581
1,291,343
1,173,169
1,235,965
1,260,936
1,210,615
1,418,871
1,389,406
1,287,160
1,285,791
1,267,719
1,247,073
1,231,180
1,093,440
1,083,490
1,068,700
1,179,149
1,136,691
1,234,886
1,154,558
1,196,268
1,171,388
938,183
914,907
833,070
857,679
801,464
912,559
846,883
833,577
859,560
891,279
891,488
898,981
946,656
1,056,397
1,201,732
1,115,951
820,181
976,402
1,027,567
1,048,604
1,354,924
1,223,516
1,458,442
1,599,475
1,639,447
1,639,056
1,498,058
1,417,531
1,087,381
1,082,338
1,279,194
1,361,593
1,425,526
1,422,855
1,693,452
1,921,782
1,937,483
2,009,361
2,079,468
2,175,515
2,175,5152,079,4682,009,3611,937,4831,921,7821,693,4521,422,8551,425,5261,361,5931,279,1941,082,3381,087,3811,417,5311,498,0581,639,0561,639,4471,599,4751,458,4421,223,5161,354,9241,048,6041,027,567976,402820,1811,115,9511,201,7321,056,397946,656898,981891,488891,279859,560833,577846,883912,559801,464857,679833,070914,907938,1831,171,3881,196,2681,154,5581,234,8861,136,6911,179,1491,068,7001,083,4901,093,4401,231,1801,247,0731,267,7191,285,7911,287,1601,389,4061,418,8711,210,6151,260,9361,235,9651,173,1691,291,3431,091,5811,011,763958,909922,329696,335521,540624,482598,815707,689703,749667,671479,380337,321351,723373,944314,623334,352331,245300,233249,193249,909297,504242,716282,366274,329244,673266,479251,148216,768194,444146,575225,879192,842313,269278,777253,019251,731000
       Short-term Investments 
0
0
0
0
0
0
0
40,835
28,216
156,752
77,555
113,336
79,311
75,016
86,526
53,127
58,898
62,610
69,046
64,367
52,270
42,470
36,048
32,050
46,249
46,805
109,609
73,033
93,674
147,435
58,668
37,551
17,976
36,335
18,048
12,886
15,747
18,889
17,643
19,583
19,635
18,622
21,920
24,418
41,723
62,626
72,784
124,639
89,356
97,177
122,448
153,083
145,478
142,582
134,253
149,862
163,660
160,901
151,366
167,989
270,212
199,007
211,834
215,161
198,147
252,253
201,560
266,952
258,400
248,904
253,699
161,687
167,745
173,318
173,697
182,989
197,385
239,765
300,542
376,463
391,646
380,880
430,164
387,642
342,656
330,567
345,214
347,980
375,237
526,639
378,705
173,288
188,878
253,689
273,050
274,618
274,579
288,659
414,701
421,270
498,995
498,995421,270414,701288,659274,579274,618273,050253,689188,878173,288378,705526,639375,237347,980345,214330,567342,656387,642430,164380,880391,646376,463300,542239,765197,385182,989173,697173,318167,745161,687253,699248,904258,400266,952201,560252,253198,147215,161211,834199,007270,212167,989151,366160,901163,660149,862134,253142,582145,478153,083122,44897,17789,356124,63972,78462,62641,72324,41821,92018,62219,63519,58317,64318,88915,74712,88618,04836,33517,97637,55158,668147,43593,67473,033109,60946,80546,24932,05036,04842,47052,27064,36769,04662,61058,89853,12786,52675,01679,311113,33677,555156,75228,21640,8350000000
       Net Receivables 
0
0
0
32,719
48,575
54,444
43,190
47,998
48,296
53,169
44,916
58,278
52,108
60,720
64,119
82,718
76,790
98,638
85,868
110,119
101,720
154,697
151,777
170,997
200,251
295,795
249,849
403,524
334,010
506,483
520,538
952,513
515,648
679,789
678,750
741,321
420,081
519,433
573,847
874,110
418,520
499,324
524,924
747,249
434,935
493,057
519,226
607,450
430,145
486,395
508,725
603,673
450,594
484,246
475,707
564,586
427,457
496,979
478,722
570,191
425,650
502,034
431,942
531,481
408,283
510,309
461,355
527,062
391,345
514,942
457,391
590,882
409,704
533,076
467,784
569,833
453,069
583,913
558,299
706,763
500,242
523,901
658,000
849,469
558,192
737,268
639,345
843,445
599,733
698,859
641,072
656,847
610,654
716,802
721,137
815,243
694,690
808,446
922,034
983,404
787,133
787,133983,404922,034808,446694,690815,243721,137716,802610,654656,847641,072698,859599,733843,445639,345737,268558,192849,469658,000523,901500,242706,763558,299583,913453,069569,833467,784533,076409,704590,882457,391514,942391,345527,062461,355510,309408,283531,481431,942502,034425,650570,191478,722496,979427,457564,586475,707484,246450,594603,673508,725486,395430,145607,450519,226493,057434,935747,249524,924499,324418,520874,110573,847519,433420,081741,321678,750679,789515,648952,513520,538506,483334,010403,524249,849295,795200,251170,997151,777154,697101,720110,11985,86898,63876,79082,71864,11960,72052,10858,27844,91653,16948,29647,99843,19054,44448,57532,719000
       Other Current Assets 
0
0
9,119
13,716
15,496
16,781
17,166
16,900
10,949
13,278
12,098
27,110
20,496
19,915
23,318
32,960
33,707
48,867
49,420
57,596
53,953
61,582
65,455
63,927
83,084
79,407
87,693
84,198
80,274
76,038
81,238
129,555
122,635
120,947
119,313
108,571
116,143
124,412
102,393
100,867
123,788
109,826
94,235
78,575
94,543
102,295
111,194
171,333
136,498
145,716
151,386
193,773
228,433
252,449
349,253
319,813
217,662
174,130
170,357
156,053
162,613
185,621
170,087
130,821
147,257
140,400
137,302
137,298
140,437
156,361
154,770
184,437
167,441
169,042
146,101
148,974
147,345
168,579
172,775
194,149
198,214
185,491
208,813
211,714
219,663
237,876
271,848
344,680
350,172
354,870
332,737
646,692
623,034
599,180
284,682
641,712
599,496
651,218
357,873
378,033
401,589
401,589378,033357,873651,218599,496641,712284,682599,180623,034646,692332,737354,870350,172344,680271,848237,876219,663211,714208,813185,491198,214194,149172,775168,579147,345148,974146,101169,042167,441184,437154,770156,361140,437137,298137,302140,400147,257130,821170,087185,621162,613156,053170,357174,130217,662319,813349,253252,449228,433193,773151,386145,716136,498171,333111,194102,29594,54378,57594,235109,826123,788100,867102,393124,412116,143108,571119,313120,947122,635129,55581,23876,03880,27484,19887,69379,40783,08463,92765,45561,58253,95357,59649,42048,86733,70732,96023,31819,91520,49627,11012,09813,27810,94916,90017,16616,78115,49613,7169,11900
   > Long-term Assets 
0
0
0
75,326
76,039
75,155
83,834
179,420
202,414
180,563
249,716
232,889
272,990
284,626
321,446
317,017
353,487
426,269
436,429
480,420
529,666
509,913
547,003
561,068
627,039
637,994
667,192
727,936
746,630
756,292
787,568
958,685
1,152,273
1,014,460
978,735
940,156
966,357
1,199,562
1,437,615
1,432,003
1,342,169
1,271,842
1,286,620
1,489,933
1,744,672
1,735,928
1,780,971
1,901,568
1,975,527
2,081,548
2,157,694
2,130,660
2,256,465
2,252,922
2,378,588
2,283,967
2,351,419
2,245,233
2,247,879
2,182,327
2,042,972
2,140,113
2,156,519
2,288,304
2,281,191
2,314,996
2,344,447
2,262,117
2,443,771
2,443,838
2,502,917
2,646,335
2,663,939
2,665,138
2,695,348
2,717,490
2,768,008
3,064,205
2,997,262
3,108,949
3,125,107
2,961,603
3,208,799
3,362,022
3,441,809
3,518,959
3,562,523
3,592,655
3,621,046
3,691,079
3,673,881
3,776,019
3,762,033
3,760,799
3,808,108
4,139,429
4,134,925
4,207,050
4,138,227
4,294,374
4,342,438
4,342,4384,294,3744,138,2274,207,0504,134,9254,139,4293,808,1083,760,7993,762,0333,776,0193,673,8813,691,0793,621,0463,592,6553,562,5233,518,9593,441,8093,362,0223,208,7992,961,6033,125,1073,108,9492,997,2623,064,2052,768,0082,717,4902,695,3482,665,1382,663,9392,646,3352,502,9172,443,8382,443,7712,262,1172,344,4472,314,9962,281,1912,288,3042,156,5192,140,1132,042,9722,182,3272,247,8792,245,2332,351,4192,283,9672,378,5882,252,9222,256,4652,130,6602,157,6942,081,5481,975,5271,901,5681,780,9711,735,9281,744,6721,489,9331,286,6201,271,8421,342,1691,432,0031,437,6151,199,562966,357940,156978,7351,014,4601,152,273958,685787,568756,292746,630727,936667,192637,994627,039561,068547,003509,913529,666480,420436,429426,269353,487317,017321,446284,626272,990232,889249,716180,563202,414179,42083,83475,15576,03975,326000
       Property Plant Equipment 
0
0
60,871
64,704
68,083
68,541
68,790
70,086
72,106
73,102
71,644
74,440
76,785
78,013
93,135
104,784
120,403
141,074
153,458
171,630
180,342
179,766
177,064
179,173
188,820
195,383
209,135
250,988
257,935
350,299
358,578
374,147
392,001
449,727
453,419
445,252
440,611
443,026
444,172
441,338
432,606
426,805
427,856
427,805
427,110
423,697
423,041
417,105
412,592
407,850
407,853
409,751
407,591
410,533
413,675
414,848
417,164
428,482
431,753
430,887
436,104
445,672
439,094
446,089
448,967
450,654
454,246
482,878
503,840
517,290
554,441
595,684
604,813
637,245
650,805
663,527
727,277
761,274
765,990
792,510
821,046
867,389
888,510
950,165
954,324
1,051,021
1,064,915
1,156,935
1,193,718
1,242,177
1,222,194
1,285,045
1,299,604
1,315,649
1,328,010
1,367,821
1,342,686
1,336,322
1,357,778
1,401,540
1,403,916
1,403,9161,401,5401,357,7781,336,3221,342,6861,367,8211,328,0101,315,6491,299,6041,285,0451,222,1941,242,1771,193,7181,156,9351,064,9151,051,021954,324950,165888,510867,389821,046792,510765,990761,274727,277663,527650,805637,245604,813595,684554,441517,290503,840482,878454,246450,654448,967446,089439,094445,672436,104430,887431,753428,482417,164414,848413,675410,533407,591409,751407,853407,850412,592417,105423,041423,697427,110427,805427,856426,805432,606441,338444,172443,026440,611445,252453,419449,727392,001374,147358,578350,299257,935250,988209,135195,383188,820179,173177,064179,766180,342171,630153,458141,074120,403104,78493,13578,01376,78574,44071,64473,10272,10670,08668,79068,54168,08364,70460,87100
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
12,218
0
0
0
13,701
0
0
0
24,457
0
0
0
98,494
0
0
0
127,429
0
0
0
129,066
0
0
0
136,548
0
0
0
179,475
0
0
0
176,059
0
0
0
179,290
0
0
0
178,638
0
0
0
187,791
0
0
0
224,553
0
0
0
286,982
0
0
0
301,017
0
0
0
467,108
0
0
0
584,210
0
0
0
575,080
572,996
561,395
540,740
567,994
571,534
572,985
594,449
608,474
601,618
599,606
611,884
603,947
616,955
616,955603,947611,884599,606601,618608,474594,449572,985571,534567,994540,740561,395572,996575,080000584,210000467,108000301,017000286,982000224,553000187,791000178,638000179,290000176,059000179,475000136,548000129,066000127,42900098,49400024,45700013,70100012,2180000000000000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
524,935
770,444
746,464
681,049
636,184
639,118
777,401
1,027,381
1,016,869
983,563
1,097,002
1,161,109
1,280,354
1,349,176
1,488,312
1,479,764
1,475,761
1,594,144
0
1,571,166
1,456,103
1,453,047
1,407,344
1,259,102
1,309,405
1,290,147
1,343,387
1,279,799
1,306,159
1,327,347
1,213,285
1,211,141
1,200,432
1,210,323
1,260,033
1,309,185
1,302,447
1,301,111
1,330,123
1,337,771
1,319,026
1,252,219
1,205,475
1,199,613
993,021
1,058,103
1,131,175
1,212,798
1,203,705
1,253,589
1,268,698
1,238,500
1,247,490
1,236,350
1,208,360
1,163,989
1,100,259
1,081,674
1,125,191
1,133,958
1,192,190
1,106,532
1,198,331
1,226,464
1,226,4641,198,3311,106,5321,192,1901,133,9581,125,1911,081,6741,100,2591,163,9891,208,3601,236,3501,247,4901,238,5001,268,6981,253,5891,203,7051,212,7981,131,1751,058,103993,0211,199,6131,205,4751,252,2191,319,0261,337,7711,330,1231,301,1111,302,4471,309,1851,260,0331,210,3231,200,4321,211,1411,213,2851,327,3471,306,1591,279,7991,343,3871,290,1471,309,4051,259,1021,407,3441,453,0471,456,1031,571,16601,594,1441,475,7611,479,7641,488,3121,349,1761,280,3541,161,1091,097,002983,5631,016,8691,027,381777,401639,118636,184681,049746,464770,444524,9350000000000000000000000000000000000000
       Intangible Assets 
0
0
0
4,774
0
0
0
16,985
16,388
28,448
25,600
24,479
24,600
21,700
43,300
42,311
42,100
62,200
48,800
49,485
48,000
36,700
0
35,866
34,432
33,017
31,417
67,580
149,396
145,990
163,675
196,030
215,770
214,186
214,372
230,954
220,212
229,535
220,955
221,656
207,074
187,419
198,191
185,152
189,479
189,309
263,221
252,163
254,937
246,335
252,895
56,538
223,316
220,531
221,979
40,204
216,260
213,242
221,566
39,445
224,381
222,968
220,848
57,761
306,303
303,348
301,983
80,449
303,414
309,318
313,269
122,819
421,006
409,459
424,776
116,063
411,162
653,014
637,716
192,521
658,777
656,898
818,781
244,356
822,229
820,116
809,163
215,993
209,325
194,070
179,890
178,461
172,685
165,591
185,835
186,601
176,647
168,392
168,230
154,163
150,026
150,026154,163168,230168,392176,647186,601185,835165,591172,685178,461179,890194,070209,325215,993809,163820,116822,229244,356818,781656,898658,777192,521637,716653,014411,162116,063424,776409,459421,006122,819313,269309,318303,41480,449301,983303,348306,30357,761220,848222,968224,38139,445221,566213,242216,26040,204221,979220,531223,31656,538252,895246,335254,937252,163263,221189,309189,479185,152198,191187,419207,074221,656220,955229,535220,212230,954214,372214,186215,770196,030163,675145,990149,39667,58031,41733,01734,43235,866036,70048,00049,48548,80062,20042,10042,31143,30021,70024,60024,47925,60028,44816,38816,9850004,774000
       Other Assets 
0
0
12,826
10,622
7,956
6,614
15,044
109,334
130,308
107,461
178,072
158,449
196,205
206,613
228,311
212,233
233,084
285,195
282,971
308,790
349,324
330,147
369,939
381,895
438,219
442,611
458,057
476,948
488,695
405,993
428,990
584,538
760,272
564,733
525,316
494,904
525,746
756,536
993,443
990,665
909,563
845,037
858,764
1,062,128
1,317,562
1,312,231
1,357,930
1,497,949
1,562,935
1,673,698
1,749,841
1,873,253
1,848,874
1,842,389
1,964,913
1,869,119
1,934,255
1,816,751
1,816,126
1,751,440
1,606,868
1,694,441
1,717,425
1,842,215
1,832,224
1,864,342
1,890,201
1,779,239
1,939,931
1,926,548
1,948,476
2,050,651
328,935
315,987
318,656
306,760
291,798
330,891
341,337
451,335
445,671
444,295
443,405
1,290,275
452,458
444,117
434,856
375,949
406,507
445,947
480,309
536,159
554,221
606,315
618,140
0
0
0
0
0
0
000000618,140606,315554,221536,159480,309445,947406,507375,949434,856444,117452,4581,290,275443,405444,295445,671451,335341,337330,891291,798306,760318,656315,987328,9352,050,6511,948,4761,926,5481,939,9311,779,2391,890,2011,864,3421,832,2241,842,2151,717,4251,694,4411,606,8681,751,4401,816,1261,816,7511,934,2551,869,1191,964,9131,842,3891,848,8741,873,2531,749,8411,673,6981,562,9351,497,9491,357,9301,312,2311,317,5621,062,128858,764845,037909,563990,665993,443756,536525,746494,904525,316564,733760,272584,538428,990405,993488,695476,948458,057442,611438,219381,895369,939330,147349,324308,790282,971285,195233,084212,233228,311206,613196,205158,449178,072107,461130,308109,33415,0446,6147,95610,62212,82600
       Deferred Long Term Asset Charges 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20,498
20,499
20,498
20,499
73,613
73,613
104,660
109,747
148,013
146,061
146,184
146,940
136,279
130,783
133,241
134,359
0
125,908
127,278
119,617
103,852
98,806
99,750
99,835
155,287
157,130
165,855
172,479
166,444
341,019
328,460
331,759
273,194
231,518
218,764
216,177
206,432
199,363
189,757
184,119
23,493
21,436
18,748
17,676
16,510
14,520
13,814
13,035
12,361
11,396
10,818
10,393
9,831
9,504
0
0
0
0
0
0
0
0
000000009,5049,83110,39310,81811,39612,36113,03513,81414,52016,51017,67618,74821,43623,493184,119189,757199,363206,432216,177218,764231,518273,194331,759328,460341,019166,444172,479165,855157,130155,28799,83599,75098,806103,852119,617127,278125,9080134,359133,241130,783136,279146,940146,184146,061148,013109,747104,66073,61373,61320,49920,49820,49920,498000000000000000000000000000000000000000
> Total Liabilities 
0
0
94,209
98,108
88,907
84,505
82,022
78,186
87,824
68,640
67,838
95,616
93,106
76,601
135,599
107,255
102,291
125,101
202,450
181,534
152,884
159,391
236,294
204,971
206,813
384,990
458,165
339,121
321,486
519,632
660,289
940,846
615,953
822,378
875,473
698,727
535,716
682,210
961,153
989,427
996,593
779,745
807,769
939,126
744,280
1,235,761
1,266,693
1,214,757
945,388
1,252,075
1,242,995
1,287,328
952,095
1,232,824
1,265,722
1,219,897
986,544
1,261,186
1,432,951
1,289,936
1,065,649
1,214,904
1,153,787
1,154,265
973,077
1,308,748
1,229,677
1,107,130
898,619
1,264,325
1,195,706
1,207,794
858,029
1,229,839
1,143,259
1,219,884
964,859
1,373,817
1,374,211
1,373,303
1,119,593
1,479,181
1,446,328
1,515,257
1,283,902
1,818,476
1,716,751
1,740,268
1,454,407
1,947,763
1,749,417
1,526,830
1,321,027
1,747,978
1,615,742
1,591,509
1,387,783
1,878,340
1,841,185
1,782,129
1,608,144
1,608,1441,782,1291,841,1851,878,3401,387,7831,591,5091,615,7421,747,9781,321,0271,526,8301,749,4171,947,7631,454,4071,740,2681,716,7511,818,4761,283,9021,515,2571,446,3281,479,1811,119,5931,373,3031,374,2111,373,817964,8591,219,8841,143,2591,229,839858,0291,207,7941,195,7061,264,325898,6191,107,1301,229,6771,308,748973,0771,154,2651,153,7871,214,9041,065,6491,289,9361,432,9511,261,186986,5441,219,8971,265,7221,232,824952,0951,287,3281,242,9951,252,075945,3881,214,7571,266,6931,235,761744,280939,126807,769779,745996,593989,427961,153682,210535,716698,727875,473822,378615,953940,846660,289519,632321,486339,121458,165384,990206,813204,971236,294159,391152,884181,534202,450125,101102,291107,255135,59976,60193,10695,61667,83868,64087,82478,18682,02284,50588,90798,10894,20900
   > Total Current Liabilities 
0
0
46,205
42,041
36,287
37,842
37,241
49,028
58,183
48,274
48,097
73,405
70,828
74,662
132,836
104,434
99,324
124,486
195,947
176,267
147,550
154,290
222,191
195,485
197,083
373,640
445,165
337,682
243,420
428,152
567,962
801,883
466,713
673,468
697,042
479,176
302,162
429,538
712,045
683,668
679,556
436,436
569,527
669,037
469,913
916,087
914,072
858,279
594,542
901,952
883,554
909,026
605,101
889,735
974,033
905,304
697,108
969,250
1,123,483
1,033,261
824,261
961,681
894,656
865,998
680,720
1,010,429
919,995
782,735
571,459
928,509
846,045
828,656
557,843
929,147
854,026
921,313
622,526
1,027,701
1,042,955
1,035,933
781,872
1,163,927
1,122,956
1,164,217
933,125
1,458,830
1,373,939
1,448,148
1,152,501
1,623,886
1,442,923
1,211,635
1,008,200
1,449,653
1,327,798
1,310,687
1,117,386
1,624,323
1,578,664
1,507,858
1,329,706
1,329,7061,507,8581,578,6641,624,3231,117,3861,310,6871,327,7981,449,6531,008,2001,211,6351,442,9231,623,8861,152,5011,448,1481,373,9391,458,830933,1251,164,2171,122,9561,163,927781,8721,035,9331,042,9551,027,701622,526921,313854,026929,147557,843828,656846,045928,509571,459782,735919,9951,010,429680,720865,998894,656961,681824,2611,033,2611,123,483969,250697,108905,304974,033889,735605,101909,026883,554901,952594,542858,279914,072916,087469,913669,037569,527436,436679,556683,668712,045429,538302,162479,176697,042673,468466,713801,883567,962428,152243,420337,682445,165373,640197,083195,485222,191154,290147,550176,267195,947124,48699,324104,434132,83674,66270,82873,40548,09748,27458,18349,02837,24137,84236,28742,04146,20500
       Short-term Debt 
0
0
0
587
0
0
0
4,177
1,334
1,334
1,334
0
0
0
0
0
0
0
0
0
0
0
0
26,200
0
0
0
82,375
0
0
0
244,864
0
0
0
49,825
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
43,277
46,281
42,855
49,238
53
60,000
52,715
75,958
0
0
0
20,503
0
0
0
25,149
0
199,087
98,289
225,475
256,442
236,708
227,735
0
0
00227,735236,708256,442225,47598,289199,087025,14900020,50300075,95852,71560,0005349,23842,85546,28143,277000000000000000000000000000000000000000049,825000244,86400082,37500026,2000000000000001,3341,3341,3344,177000587000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
13,095
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
00000000000000000000000013,0950000000000000000000000000000000000000000000000000000000000000000000000000000
       Accounts payable 
0
0
23,014
22,496
15,209
13,466
14,662
18,837
19,225
18,000
22,069
32,446
24,670
27,873
30,880
40,671
28,654
40,587
47,288
53,673
40,321
51,119
50,210
76,516
68,809
89,635
125,236
88,375
110,119
167,339
236,044
341,053
213,766
179,212
217,122
160,094
79,453
137,360
185,668
203,388
109,904
150,519
194,894
132,348
118,845
125,680
182,651
164,010
109,232
138,582
147,866
131,263
112,170
128,078
151,798
146,582
124,241
132,581
144,882
149,094
125,745
146,088
158,663
178,905
137,162
151,904
148,030
172,404
136,901
161,398
158,591
169,640
136,132
166,499
197,069
204,985
170,474
214,763
235,548
240,831
200,281
193,216
235,467
258,885
250,789
303,947
318,604
370,048
298,992
319,732
268,674
212,417
208,796
253,803
268,030
253,790
243,087
331,938
374,025
359,365
344,804
344,804359,365374,025331,938243,087253,790268,030253,803208,796212,417268,674319,732298,992370,048318,604303,947250,789258,885235,467193,216200,281240,831235,548214,763170,474204,985197,069166,499136,132169,640158,591161,398136,901172,404148,030151,904137,162178,905158,663146,088125,745149,094144,882132,581124,241146,582151,798128,078112,170131,263147,866138,582109,232164,010182,651125,680118,845132,348194,894150,519109,904203,388185,668137,36079,453160,094217,122179,212213,766341,053236,044167,339110,11988,375125,23689,63568,80976,51650,21051,11940,32153,67347,28840,58728,65440,67130,88027,87324,67032,44622,06918,00019,22518,83714,66213,46615,20922,49623,01400
       Other Current Liabilities 
0
0
13,758
18,958
21,078
24,376
22,579
15,752
37,624
28,940
24,694
40,959
46,158
46,789
77,319
63,763
23,898
33,711
148,659
51,661
107,229
48,208
108,237
55,815
59,395
220,707
233,909
154,639
121,383
243,838
296,885
383,935
236,784
443,152
428,926
319,082
202,395
272,036
463,654
429,524
508,001
227,985
269,943
390,950
216,291
642,271
571,730
427,498
219,852
503,917
452,897
1,302,819
215,040
486,193
778,175
720,679
298,573
581,455
570,134
701,907
322,023
630,619
548,547
548,901
374,069
683,224
601,577
447,604
273,818
610,547
533,634
485,697
285,226
624,106
515,834
568,314
302,470
678,079
651,107
643,627
437,308
828,090
751,105
749,882
531,381
990,198
857,703
862,363
618,797
1,089,916
916,021
661,946
454,083
901,145
1,059,768
730,233
517,117
949,678
863,855
742,914
546,969
546,969742,914863,855949,678517,117730,2331,059,768901,145454,083661,946916,0211,089,916618,797862,363857,703990,198531,381749,882751,105828,090437,308643,627651,107678,079302,470568,314515,834624,106285,226485,697533,634610,547273,818447,604601,577683,224374,069548,901548,547630,619322,023701,907570,134581,455298,573720,679778,175486,193215,0401,302,819452,897503,917219,852427,498571,730642,271216,291390,950269,943227,985508,001429,524463,654272,036202,395319,082428,926443,152236,784383,935296,885243,838121,383154,639233,909220,70759,39555,815108,23748,208107,22951,661148,65933,71123,89863,76377,31946,78946,15840,95924,69428,94037,62415,75222,57924,37621,07818,95813,75800
   > Long-term Liabilities 
0
0
0
56,067
52,620
46,663
44,781
29,158
29,641
20,366
19,741
22,211
22,278
1,939
2,763
2,821
2,967
615
6,503
5,267
5,334
5,101
14,103
9,486
9,730
11,350
13,000
1,439
78,066
91,480
92,327
138,963
149,240
148,910
178,431
219,551
233,554
252,672
249,108
305,759
317,037
343,309
238,242
270,089
274,367
319,674
352,621
356,478
350,846
350,123
359,441
378,302
346,994
343,089
291,689
314,593
289,436
291,936
309,468
256,675
241,388
253,223
259,131
288,267
292,357
298,319
309,682
324,395
327,160
335,816
349,661
379,138
300,186
300,692
289,233
298,571
342,333
346,116
331,256
337,370
337,721
315,254
323,372
351,040
350,777
359,646
342,812
292,120
301,906
323,877
306,494
315,195
312,827
298,325
287,944
280,822
270,397
254,017
262,521
274,271
278,438
278,438274,271262,521254,017270,397280,822287,944298,325312,827315,195306,494323,877301,906292,120342,812359,646350,777351,040323,372315,254337,721337,370331,256346,116342,333298,571289,233300,692300,186379,138349,661335,816327,160324,395309,682298,319292,357288,267259,131253,223241,388256,675309,468291,936289,436314,593291,689343,089346,994378,302359,441350,123350,846356,478352,621319,674274,367270,089238,242343,309317,037305,759249,108252,672233,554219,551178,431148,910149,240138,96392,32791,48078,0661,43913,00011,3509,7309,48614,1035,1015,3345,2676,5036152,9672,8212,7631,93922,27822,21119,74120,36629,64129,15844,78146,66352,62056,067000
       Deferred Long Term Asset Charges 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20,498
20,499
20,498
20,499
73,613
73,613
104,660
109,747
148,013
146,061
146,184
146,940
136,279
130,783
133,241
134,359
0
125,908
127,278
119,617
103,852
98,806
99,750
99,835
155,287
157,130
165,855
172,479
166,444
341,019
328,460
331,759
273,194
231,518
218,764
216,177
206,432
199,363
189,757
184,119
23,493
21,436
18,748
17,676
16,510
14,520
13,814
13,035
12,361
11,396
10,818
10,393
9,831
9,504
0
0
0
0
0
0
0
0
000000009,5049,83110,39310,81811,39612,36113,03513,81414,52016,51017,67618,74821,43623,493184,119189,757199,363206,432216,177218,764231,518273,194331,759328,460341,019166,444172,479165,855157,130155,28799,83599,75098,806103,852119,617127,278125,9080134,359133,241130,783136,279146,940146,184146,061148,013109,747104,66073,61373,61320,49920,49820,49920,498000000000000000000000000000000000000000
       Other Liabilities 
0
0
97
92
0
575
1,021
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
76,474
90,470
90,505
127,028
137,117
137,162
167,133
215,481
221,603
238,158
240,661
295,589
306,479
334,788
226,987
263,103
263,299
306,494
340,422
351,527
343,611
345,118
352,321
375,835
344,573
341,870
288,173
312,835
287,686
290,205
273,395
217,178
201,940
211,595
215,961
232,057
231,442
243,686
253,219
263,175
264,567
279,125
281,457
303,923
300,186
300,692
289,233
298,571
299,056
299,835
288,401
288,132
284,887
255,254
264,956
275,082
276,036
285,310
271,285
222,076
219,779
216,925
206,313
200,654
201,439
187,585
176,909
0
0
0
0
0
0
000000176,909187,585201,439200,654206,313216,925219,779222,076271,285285,310276,036275,082264,956255,254284,887288,132288,401299,835299,056298,571289,233300,692300,186303,923281,457279,125264,567263,175253,219243,686231,442232,057215,961211,595201,940217,178273,395290,205287,686312,835288,173341,870344,573375,835352,321345,118343,611351,527340,422306,494263,299263,103226,987334,788306,479295,589240,661238,158221,603215,481167,133137,162137,117127,02890,50590,47076,4740000000000000000000001,0215750929700
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,514
8,447
48,744
56,028
66,116
81,971
115,062
125,863
160,153
185,554
193,083
184,330
183,392
186,792
195,514
174,083
168,487
169,681
172,770
146,414
142,865
172,098
174,627
161,354
166,253
161,260
184,941
187,646
184,975
190,699
201,627
201,258
202,273
224,018
239,055
157,936
158,248
160,480
92,944
98,959
105,865
113,225
114,754
117,792
103,583
124,746
116,844
14,520
13,814
13,035
117,595
117,649
118,062
10,393
129,965
131,753
10,451
10,538
0
0
0
0
0
0
00000010,53810,451131,753129,96510,393118,062117,649117,59513,03513,81414,520116,844124,746103,583117,792114,754113,225105,86598,95992,944160,480158,248157,936239,055224,018202,273201,258201,627190,699184,975187,646184,941161,260166,253161,354174,627172,098142,865146,414172,770169,681168,487174,083195,514186,792183,392184,330193,083185,554160,153125,863115,06281,97166,11656,02848,7448,44714,5140000000000000000000000000000000000000
> Total Stockholder Equity
0
0
245,895
365,239
389,978
413,999
441,277
453,969
481,655
528,068
561,000
602,499
645,793
697,001
689,388
749,690
796,609
843,865
855,601
935,857
1,000,347
1,069,832
1,068,432
1,157,264
1,264,686
1,276,867
1,341,372
1,557,899
1,695,682
1,924,969
1,985,211
2,350,614
2,467,445
2,309,653
2,139,840
2,225,854
2,258,473
2,462,156
2,555,398
2,836,447
2,554,935
2,651,614
2,850,249
3,049,562
3,193,229
2,962,694
3,068,192
3,256,581
3,379,405
3,210,687
3,387,747
3,531,796
3,618,325
3,366,357
3,557,504
3,659,706
3,752,370
3,480,616
3,236,413
3,403,367
3,477,630
3,208,505
3,234,685
3,345,126
3,437,247
3,218,835
3,362,229
3,418,003
3,702,062
3,484,447
3,639,685
3,802,466
3,997,193
3,758,881
3,952,708
4,162,974
4,315,286
4,150,966
4,380,894
4,793,496
4,934,400
4,740,861
5,104,341
5,516,116
5,715,827
5,584,248
5,854,738
6,114,159
6,248,842
5,865,933
5,878,189
6,204,340
6,405,004
6,123,822
6,349,280
7,012,060
7,246,097
7,004,982
7,506,547
7,848,398
8,179,478
8,179,4787,848,3987,506,5477,004,9827,246,0977,012,0606,349,2806,123,8226,405,0046,204,3405,878,1895,865,9336,248,8426,114,1595,854,7385,584,2485,715,8275,516,1165,104,3414,740,8614,934,4004,793,4964,380,8944,150,9664,315,2864,162,9743,952,7083,758,8813,997,1933,802,4663,639,6853,484,4473,702,0623,418,0033,362,2293,218,8353,437,2473,345,1263,234,6853,208,5053,477,6303,403,3673,236,4133,480,6163,752,3703,659,7063,557,5043,366,3573,618,3253,531,7963,387,7473,210,6873,379,4053,256,5813,068,1922,962,6943,193,2293,049,5622,850,2492,651,6142,554,9352,836,4472,555,3982,462,1562,258,4732,225,8542,139,8402,309,6532,467,4452,350,6141,985,2111,924,9691,695,6821,557,8991,341,3721,276,8671,264,6861,157,2641,068,4321,069,8321,000,347935,857855,601843,865796,609749,690689,388697,001645,793602,499561,000528,068481,655453,969441,277413,999389,978365,239245,89500
   Common Stock
0
0
1,000
1,082
1,082
1,082
1,082
1,078
1,078
1,078
1,078
1,080
1,080
1,081
1,081
1,082
1,083
1,081
1,081
1,084
1,085
1,082
1,080
1,081
1,084
1,085
1,080
1,082
1,083
1,085
1,086
1,086
1,079
1,054
1,511
1,002
1,000
1,000
1,002
1,001
994
987
1,792,768
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
1,797,435
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
17,979
19,588
19,588
19,588
19,490
19,490
19,490
19,490
19,490
19,49019,49019,49019,49019,49019,58819,58819,58817,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,97917,9791,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,797,4351,792,7689879941,0011,0021,0001,0001,0021,5111,0541,0791,0861,0861,0851,0831,0821,0801,0851,0841,0811,0801,0821,0851,0841,0811,0811,0831,0821,0811,0811,0801,0801,0781,0781,0781,0781,0821,0821,0821,0821,00000
   Retained Earnings Total Equity
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,472,912
2,537,598
2,816,607
2,552,920
2,648,589
1,136,374
1,264,613
1,377,007
1,097,970
1,248,443
1,413,582
1,500,390
1,336,460
1,477,504
1,604,625
1,693,291
1,514,153
1,701,823
1,865,587
1,984,405
1,796,561
1,649,727
1,859,972
1,928,165
1,676,601
1,795,900
1,930,517
2,018,609
1,794,792
1,919,846
2,056,702
2,294,654
2,083,076
2,230,489
2,368,874
2,546,400
2,336,614
2,520,828
2,710,619
2,850,588
2,641,371
2,868,816
3,229,061
3,390,053
3,107,768
3,421,159
3,754,372
3,974,184
3,775,874
4,034,912
4,320,737
4,532,102
4,225,521
4,439,004
4,733,517
4,935,730
0
0
0
0
0
0
0
0
000000004,935,7304,733,5174,439,0044,225,5214,532,1024,320,7374,034,9123,775,8743,974,1843,754,3723,421,1593,107,7683,390,0533,229,0612,868,8162,641,3712,850,5882,710,6192,520,8282,336,6142,546,4002,368,8742,230,4892,083,0762,294,6542,056,7021,919,8461,794,7922,018,6091,930,5171,795,9001,676,6011,928,1651,859,9721,649,7271,796,5611,984,4051,865,5871,701,8231,514,1531,693,2911,604,6251,477,5041,336,4601,500,3901,413,5821,248,4431,097,9701,377,0071,264,6131,136,3742,648,5892,552,9202,816,6072,537,5982,472,9120000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 
0
0
0
-22,908
-21,968
-34,550
-32,125
-39,327
-38,402
-24,298
-29,849
-35,896
-34,777
-31,838
-20,875
-20,268
-7,811
-13,759
-15,494
10,615
25,799
31,622
-6,889
-12,513
-6,149
-16,549
-29,217
-5,275
-16,339
-14,532
-2,767
46,130
92,950
49,869
-885
-37,651
-62,456
-35,020
-18,630
-13,382
1,021
2,038
32,997
56,004
91,370
129,681
74,686
87,193
109,670
95,182
121,617
138,554
129,355
64,843
71,781
38,041
35,302
73,293
47,170
2,571
16,575
24,075
-23,149
-30,428
-14,864
-1,403
25,766
-36,761
32,464
40,147
46,487
56,045
64,442
9,732
4,624
8,430
18,338
34,681
20,590
55,874
31,807
89,729
118,978
183,427
140,252
166,627
154,756
117,835
10,911
-70,612
-206,839
-114,533
-86,566
-115,300
-160,827
-65,614
-122,056
-137,994
-50,695
-147,238
-125,911
-125,911-147,238-50,695-137,994-122,056-65,614-160,827-115,300-86,566-114,533-206,839-70,61210,911117,835154,756166,627140,252183,427118,97889,72931,80755,87420,59034,68118,3388,4304,6249,73264,44256,04546,48740,14732,464-36,76125,766-1,403-14,864-30,428-23,14924,07516,5752,57147,17073,29335,30238,04171,78164,843129,355138,554121,61795,182109,67087,19374,686129,68191,37056,00432,9972,0381,021-13,382-18,630-35,020-62,456-37,651-88549,86992,95046,130-2,767-14,532-16,339-5,275-29,217-16,549-6,149-12,513-6,88931,62225,79910,615-15,494-13,759-7,811-20,268-20,875-31,838-34,777-35,896-29,849-24,298-38,402-39,327-32,125-34,550-21,968-22,908000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
23,264
35,428
32,221
0
0
11,673
38,268
45,435
53,707
61,309
61,869
70,688
78,390
86,513
72,462
77,723
83,513
87,377
79,263
80,837
87,357
92,144
73,521
80,598
85,233
89,879
62,239
70,413
73,279
1,862,801
1,836,047
1,831,824
1,839,587
1,851,529
1,828,386
1,818,532
1,828,515
1,842,551
1,823,638
1,810,196
1,825,135
1,841,696
1,835,622
1,830,052
1,851,695
1,872,519
1,880,354
1,892,934
1,927,137
1,950,464
1,960,722
1,982,561
2,008,931
2,027,019
2,042,472
2,048,339
0
0
0
0
0
0
0
0
000000002,048,3392,042,4722,027,0192,008,9311,982,5611,960,7221,950,4641,927,1371,892,9341,880,3541,872,5191,851,6951,830,0521,835,6221,841,6961,825,1351,810,1961,823,6381,842,5511,828,5151,818,5321,828,3861,851,5291,839,5871,831,8241,836,0471,862,80173,27970,41362,23989,87985,23380,59873,52192,14487,35780,83779,26387,37783,51377,72372,46286,51378,39070,68861,86961,30953,70745,43538,26811,6730032,22135,42823,2640000000000000000000000000000000000000
   Treasury Stock00000000-510,478-475,095-398,974-315,886-294,711-303,114-303,373-303,369-309,522-320,016-326,294-326,310-335,491-345,040-368,187-368,200-381,815-397,692-433,274-433,959-450,160-468,818-506,799-496,342-474,859-455,964-464,163-445,268-434,346-414,637-425,380-374,839-345,143-330,132-350,063-274,030-145,609-120,620-100,912-93,587-79,479-81,280-95,322-96,780-98,778-103,498-113,681-116,099-118,018-106,758-123,563000000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
133,925
133,925
133,925
133,925
127,131
127,131
127,294
127,349
129,431
130,112
131,133
131,229
104,022
105,077
101,969
102,370
108,949
110,853
131,947
88,948
96,242
109,781
117,465
71,666
83,437
92,423
105,525
123,025
178,394
54,502
1,054
25
5
8,885
23,264
35,428
32,221
994
987
-111,890
-68,490
-72,583
-62,392
-52,372
-41,629
-28,090
-18,390
-8,809
120,918
-1,756
-10,074
-13,535
-41,357
-64,772
-186,673
-257,919
-256,611
-264,545
-289,606
-335,501
-352,398
-363,933
-371,989
1,398,638
1,380,083
1,356,965
1,343,245
1,344,730
1,359,568
1,368,372
1,394,556
1,409,277
1,425,946
1,428,381
1,456,935
1,473,509
1,490,582
1,494,561
1,525,385
1,546,225
1,560,338
1,583,412
1,623,768
1,647,091
1,657,608
1,687,850
1,693,045
1,628,045
1,567,377
1,537,861
1,754,852
1,608,137
1,794,558
1,908,463
1,959,259
1,974,176
1,976,963
1,954,164
1,954,1641,976,9631,974,1761,959,2591,908,4631,794,5581,608,1371,754,8521,537,8611,567,3771,628,0451,693,0451,687,8501,657,6081,647,0911,623,7681,583,4121,560,3381,546,2251,525,3851,494,5611,490,5821,473,5091,456,9351,428,3811,425,9461,409,2771,394,5561,368,3721,359,5681,344,7301,343,2451,356,9651,380,0831,398,638-371,989-363,933-352,398-335,501-289,606-264,545-256,611-257,919-186,673-64,772-41,357-13,535-10,074-1,756120,918-8,809-18,390-28,090-41,629-52,372-62,392-72,583-68,490-111,89098799432,22135,42823,2648,8855251,05454,502178,394123,025105,52592,42383,43771,666117,465109,78196,24288,948131,947110,853108,949102,370101,969105,077104,022131,229131,133130,112129,431127,349127,294127,131127,131133,925133,925133,925133,925000



5.3. Balance Sheets

Currency in USD. All numbers in thousands.




5.4. Cash Flows

Currency in USD. All numbers in thousands.




5.5. Income Statements

Currency in USD. All numbers in thousands.


5.6. Latest Income Statement

Income Statement (annual), 2024-12-31. Currency in USD. All numbers in thousands.

Gross Profit (+$)
totalRevenue6,296,903
Cost of Revenue-2,600,348
Gross Profit3,696,5553,696,555
 
Operating Income (+$)
Gross Profit3,696,555
Operating Expense-2,102,561
Operating Income1,593,9941,593,994
 
Operating Expense (+$)
Research Development993,601
Selling General Administrative834,990
Selling And Marketing Expenses173,109
Operating Expense2,102,5612,001,700
 
Net Interest Income (+$)
Interest Income113,520
Interest Expense-0
Other Finance Cost-0
Net Interest Income113,520
 
Pretax Income (+$)
Operating Income1,593,994
Net Interest Income113,520
Other Non-Operating Income Expenses0
Income Before Tax (EBT)1,695,4011,492,587
EBIT - interestExpense = 1,593,994
1,695,401
1,411,436
Interest Expense0
Earnings Before Interest and Taxes (EBIT)1,593,9941,695,401
Earnings Before Interest and Taxes (EBITDA)1,773,729
 
After tax Income (+$)
Income Before Tax1,695,401
Tax Provision-283,965
Net Income From Continuing Ops1,411,4361,411,436
Net Income1,411,436
Net Income Applicable To Common Shares0
 
Non-recurring Events
Discontinued Operations0
Extraordinary Items0
Effect of Accounting Charges0
Other Items0
Non Recurring0
Other Operating Expenses4,702,909
Total Other Income/Expenses Net101,407-113,520
 

Technical Analysis of Garmin
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Garmin. The general trend of Garmin is BULLISH with 85.7% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Garmin's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (85.7%) Bearish trend (-85.7%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Garmin Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Garmin Ltd.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is -1/(-1 +1).

  • Around resistance: The price is trading arround resistance levels. This can be considered as a potential exit level. -1

The bullish price targets are: 215.86 < 224.40 < 239.99.

The bearish price targets are: 208.20 > 199.69 > 197.36.

Know someone who trades $GRMN? Share this with them.👇

Garmin Ltd Daily Support & Resistance Chart
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2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Garmin Ltd. The current mas is .

The long score for the Moving Averages is 13/14.
The longshort score for the Moving Averages is 12/(-14 +14).

  • MA 20 trending up: The MA 20 is trending up. +1
  • Close > MA 20: The price is above the MA 20. +1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
  • MA 50 trending up: The MA 50 is trending up. +1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 < MA 100: The MA 50 is lower than the MA 100. -1
  • MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Garmin Ltd Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Garmin Ltd. The current macd is 3.71510151.

The long score for the Moving Average Convergence/Divergence (MACD) is 4/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 4/(-4 +4).

  • MACD line > signal line: The MACD line is above the signal line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Garmin price going up in the near term. +2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Garmin. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Garmin price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1
Garmin Ltd Daily Moving Average Convergence/Divergence (MACD) ChartGarmin Ltd Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Garmin Ltd. The current adx is 23.65.

The long score for the Directional Movement Index (DMI) is 2/7.
The longshort score for the Directional Movement Index (DMI) is 2/(-7 +7).

  • PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Garmin shares, leading to potential upward momentum in its price. +1
  • PLUS_ID > MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bullish trend could be forming. +1
Garmin Ltd Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Garmin Ltd. The current sar is 206.09.

The long score for the Parabolic SAR is 1/1.
The longshort score for the Parabolic SAR is 1/(-1 +1).

  • Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1
Garmin Ltd Daily Parabolic SAR Chart
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3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Garmin Ltd. The current rsi is 64.16. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 3/13.
The longshort score for the Relative Strength Index (RSI) is 2/(-13 +13).

  • Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
  • Trending down: The RSI is trending down. -1
Garmin Ltd Daily Relative Strength Index (RSI) ChartGarmin Ltd Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Garmin Ltd. The current phase is Overbought in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 0/(-6 +6).

  • STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
  • STOCH > 80: The STOCH %K is above 80 and overbought. +2
  • STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Garmin price going down in the near term. -2
  • Trending down: The STOCH %K is trending down. -1
Garmin Ltd Daily Stochastic Oscillator ChartGarmin Ltd Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Garmin Ltd. The current cci is 96.00.

Garmin Ltd Daily Commodity Channel Index (CCI) ChartGarmin Ltd Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Garmin Ltd. The current cmo is 33.60.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

  • CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1
Garmin Ltd Daily Chande Momentum Oscillator (CMO) ChartGarmin Ltd Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Garmin Ltd. The current willr is -19.10366682.

The long score for the Williams %R is 1/1.
The longshort score for the Williams %R is 1/(-1 +1).

  • WILLR > -20: The Williams %R is above -20. This indicates that the price is in overbought territory, suggesting a potential price correction or trend reversal to the downside. +1
Garmin Ltd Daily Williams %R ChartGarmin Ltd Daily Williams %R Chart
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4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Garmin Ltd.

Garmin Ltd Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Garmin Ltd. The current atr is 3.9193187.

Garmin Ltd Daily Average True Range (ATR) ChartGarmin Ltd Daily Average True Range (ATR) Chart
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5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Garmin Ltd. The current obv is 61,052,736.

Garmin Ltd Daily On-Balance Volume (OBV) ChartGarmin Ltd Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Garmin Ltd. The current mfi is 74.55.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

  • MFI > 50: +1
Garmin Ltd Daily Money Flow Index (MFI) ChartGarmin Ltd Daily Money Flow Index (MFI) Chart
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6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Garmin Ltd.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2025-02-19MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-02-20RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-02-25STOCH SHORT EXITThe %K line crosses above the %D line.
2025-02-27STOCH LONG EXITThe %K line crosses below the %D line.
2025-02-28STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-03STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-04MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-03-05CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-03-06CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-03-07DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2025-03-10WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-12STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-13STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-14STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-17CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2025-03-18STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-20STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-24CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-03-26MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2025-03-28STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-03-31STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-04-01SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-04-03MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-07STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-08STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-04-09RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-04-16STOCH LONG EXITThe %K line crosses below the %D line.
2025-04-22MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-23SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-04-24CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-04-28STOCH LONG EXITThe %K line crosses below the %D line.
2025-04-29DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-30DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-05-02STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-06STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-08STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-12DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-05-13WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-16CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-05-20STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-22WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-23DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-05-27DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-28STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-29WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-30DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2025-06-03DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-06-05STOCH LONG EXITThe %K line crosses below the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-06-06STOCH SHORT EXITThe %K line crosses above the %D line.
2025-06-09BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2025-06-11STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-13MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-06-17CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-06-20STOCH SHORT EXITThe %K line crosses above the %D line.
2025-06-24DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-06-27MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-07-01CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-07-03STOCH LONG EXITThe %K line crosses below the %D line.
2025-07-09STOCH SHORT EXITThe %K line crosses above the %D line.
2025-07-10STOCH LONG EXITThe %K line crosses below the %D line.
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2025-07-11MFI SHORT ENTRY LONG CLOSE80 crossover to downside

6.3. Candlestick Patterns

Garmin Ltd Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Garmin Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5064.160
Ma 20Greater thanMa 50208.014
Ma 50Greater thanMa 100203.140
Ma 100Greater thanMa 200205.824
OpenGreater thanClose216.190
Total4/5 (80.0%)
Penke
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