Garmin Ltd (GRMN)
Debt-to-assets ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 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 | 6,166,800 | 5,755,100 | 5,524,780 | 5,280,140 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $8,603,570K
= 0.00
The debt-to-assets ratio of Garmin Ltd has consistently been reported as 0.00 for each period provided in the table. This indicates that the company has no debt relative to its total assets during these periods. A debt-to-assets ratio of 0.00 suggests that Garmin Ltd has been financing its operations and investments primarily through equity rather than debt. This can be viewed positively by investors and creditors as it signifies a low risk of financial distress associated with excessive debt levels. However, it is important to consider other financial metrics and industry benchmarks to assess the company's overall financial health and leverage position effectively.
Peer comparison
Dec 31, 2023