Garmin Ltd (GRMN)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 7,012,060 | 6,204,340 | 6,114,160 | 5,516,120 | 4,793,500 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $7,012,060K)
= 0.00
For the past five consecutive years, including the latest financial year ending on December 31, 2023, Garmin Ltd has consistently reported a debt-to-capital ratio of 0.00. This indicates that the company has not utilized any debt to finance its operations or growth initiatives and has relied solely on its equity capital. A debt-to-capital ratio of 0.00 suggests that Garmin Ltd has a strong financial position with no debt obligations contributing to its capital structure. This may reflect a conservative approach to financial management, minimizing financial risk and potentially enhancing the company's ability to weather economic downturns. Overall, the consistent 0.00 debt-to-capital ratio over the years signals a healthy balance sheet and a solid financial foundation for Garmin Ltd.
Peer comparison
Dec 31, 2023