Garmin Ltd (GRMN)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 9,630,530 | 8,603,570 | 7,731,170 | 7,854,430 | 7,031,370 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $9,630,530K
= 0.00
The debt-to-assets ratio of Garmin Ltd has consistently been 0.00 over the past five years (from December 31, 2020, to December 31, 2024). This indicates that the company does not rely on debt financing to fund its operations and investments, as its total debt is essentially non-existent relative to its total assets. A debt-to-assets ratio of 0.00 suggests a very low financial risk associated with debt repayment for the company, as it has a strong ability to cover its obligations using its own resources. This financial strength can provide Garmin with more flexibility and stability in its financial position, allowing it to pursue growth opportunities with reduced financial risk.
Peer comparison
Dec 31, 2024