Garmin Ltd (GRMN)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| 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, 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 remained at 0.00% for all reported periods from March 31, 2020, to December 31, 2024. This indicates that the company carries no debt relative to its total assets during these periods. A debt-to-assets ratio of 0.00% suggests that Garmin Ltd is financing its operations primarily through equity rather than debt. This may reflect a strong financial position, minimal financial risk, and possibly conservative financial management practices, as the company is not relying on borrowed funds to support its asset base.
Peer comparison
Dec 31, 2024
Company name
Symbol
Debt-to-assets ratio
Garmin Ltd
GRMN
0.00
L3Harris Technologies Inc
LHX
0.26
Nextracker Inc. Class A Common Stock
NXT
0.06
Northrop Grumman Corporation
NOC
0.30
Teledyne Technologies Incorporated
TDY
0.18