Garmin Ltd (GRMN)
Debt-to-capital ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 7,848,400 | 7,012,060 | 6,204,340 | 6,114,160 | 5,516,120 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $7,848,400K)
= 0.00
The debt-to-capital ratio of Garmin Ltd has consistently been at 0.00 from December 31, 2020, to December 31, 2024. This indicates that the company has not utilized debt in its capital structure during this period. A debt-to-capital ratio of 0.00 signifies that the company's capital is entirely funded by equity rather than debt. This may reflect a conservative financial strategy or a strong internal cash generation capacity that allows the company to operate without relying on external borrowings. A low or zero debt-to-capital ratio can suggest financial stability and reduced financial risk as the company is not heavily leveraged.
Peer comparison
Dec 31, 2024