Garmin Ltd (GRMN)

Debt-to-capital 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 stockholders’ equity US$ in thousands 7,012,060 6,349,280 6,123,820 6,405,000 6,204,340 5,878,190 5,865,930 6,248,840 6,114,160 5,854,740 5,584,250 5,715,830 5,516,120 5,104,340 4,740,860 4,934,400 4,793,500 4,380,890 4,150,970 4,315,290
Debt-to-capital 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-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $7,012,060K)
= 0.00

The debt-to-capital ratio of Garmin Ltd has consistently been 0.00 across all the reported periods from March 2019 to December 2023. This indicates that the company has not utilized debt as a significant source of financing in relation to its total capital during these periods. A debt-to-capital ratio of 0.00 typically signifies that the company has either no debt or a negligible amount of debt compared to its total capital, which may suggest a conservative financial policy or a strong cash position. It can also imply that the company has been funding its operations primarily through equity rather than debt financing. Further analysis of other financial ratios and factors would be beneficial to gain a more comprehensive understanding of Garmin Ltd's financial health and performance.


Peer comparison

Dec 31, 2023