Garmin Ltd (GRMN)
Debt-to-equity 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-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $7,848,400K
= 0.00
The debt-to-equity ratio for Garmin Ltd has remained constant at 0.00 from December 31, 2020, to December 31, 2024. This indicates that the company has not utilized any debt financing to support its operations, relying solely on equity financing. A debt-to-equity ratio of 0.00 signifies a conservative capital structure with low financial risk, as there is no debt present to magnify potential losses. Garmin Ltd's stable debt-to-equity ratio suggests a strong financial position and a prudent approach to managing its capital structure and financial obligations.
Peer comparison
Dec 31, 2024
Company name
Symbol
Debt-to-equity ratio
Garmin Ltd
GRMN
0.00
L3Harris Technologies Inc
LHX
0.59
Nextracker Inc. Class A Common Stock
NXT
0.15
Northrop Grumman Corporation
NOC
0.96
Teledyne Technologies Incorporated
TDY
0.29