Garmin Ltd (GRMN)
Debt-to-equity 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-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $7,012,060K
= 0.00
The debt-to-equity ratio of Garmin Ltd has consistently been at 0.00 over the past five years, indicating that the company has had no financial leverage through debt during this period. A debt-to-equity ratio of 0.00 implies that the company has not used any debt financing to fund its operations, and instead has relied solely on equity. This can be seen as a positive sign, showcasing a strong financial position with minimal financial risk associated with debt obligations. However, it is important to note that a debt-to-equity ratio of 0.00 may also indicate that the company could potentially be missing out on the benefits of leveraging debt, such as tax advantages and potential higher returns on equity. Further analysis of the company's capital structure and strategic decisions would provide more insight into its financial health and risk management strategies.
Peer comparison
Dec 31, 2023