Garmin Ltd (GRMN)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	7,848,400	7,506,550	7,004,980	7,246,100	7,012,060	6,349,280	6,123,820	6,405,000	6,204,340	5,878,190	5,865,930	6,248,840	6,114,160	5,854,740	5,584,250	5,715,830	5,516,120	5,104,340	4,740,860	4,934,400
ROE		17.98%	20.22%	19.64%	18.81%	18.39%	16.39%	16.24%	15.06%	15.69%	16.44%	17.30%	17.18%	17.70%	19.29%	21.20%	18.39%	17.99%	19.97%	19.70%	19.73%

December 31, 2024 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $1,411,435K ÷ $7,848,400K
= 17.98%

Garmin Ltd's return on equity (ROE) has fluctuated over the given periods, ranging from a low of 15.06% on March 31, 2023, to a high of 21.20% on June 30, 2021. ROE measures the profitability of a company in relation to shareholders' equity, indicating how well the company is utilizing its equity to generate profit.

Overall, the ROE has shown some volatility but has mostly remained within a relatively stable range between 15% and 21%. This suggests that Garmin Ltd has been able to maintain a decent level of profitability relative to its equity base during the periods in question.

It is important for investors and analysts to continue monitoring the ROE trend to assess the company's efficiency in generating profits from shareholders' investments and to evaluate its overall financial performance and sustainability.