Garmin Ltd (GRMN)
Return on assets (ROA)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 1,411,435 | 1,517,829 | 1,375,961 | 1,363,270 | 1,289,636 | 1,040,781 | 994,386 | 964,320 | 973,585 | 966,449 | 1,014,640 | 1,073,764 | 1,082,201 | 1,129,612 | 1,183,990 | 1,051,173 | 992,324 | 1,019,569 | 934,018 | 973,494 |
| Total assets | US$ in thousands | 9,630,530 | 9,347,730 | 8,883,320 | 8,633,880 | 8,603,570 | 7,965,020 | 7,871,800 | 7,726,030 | 7,731,170 | 7,627,610 | 7,813,700 | 7,703,250 | 7,854,430 | 7,571,490 | 7,402,720 | 6,999,730 | 7,031,370 | 6,550,670 | 6,220,040 | 6,053,990 |
| ROA | 14.66% | 16.24% | 15.49% | 15.79% | 14.99% | 13.07% | 12.63% | 12.48% | 12.59% | 12.67% | 12.99% | 13.94% | 13.78% | 14.92% | 15.99% | 15.02% | 14.11% | 15.56% | 15.02% | 16.08% |
December 31, 2024 calculation
ROA = Net income (ttm) ÷ Total assets
= $1,411,435K ÷ $9,630,530K
= 14.66%
Garmin Ltd's Return on Assets (ROA) has fluctuated over the period from March 31, 2020, to December 31, 2024. The ROA started at a relatively high level of 16.08% in March 2020 and gradually decreased to 12.59% by December 2022. This downward trend suggests that the company's ability to generate profit from its assets decreased during this period.
However, there was a slight improvement in the ROA from March 2023 to September 2024, reaching a peak of 16.24% in September 2024. This uptick indicates that Garmin was able to enhance its efficiency in generating income from its assets during this time frame.
The ROA then decreased to 14.66% by December 31, 2024, which indicates a slight decline in the company's profitability relative to its total assets at the end of the period under consideration.
Overall, Garmin's ROA showed variability over the analyzed period, with periods of both improvement and decline. Investors and stakeholders may want to further investigate the factors influencing these fluctuations to assess the company's operational efficiency and profitability.
Peer comparison
Dec 31, 2024