Garmin Ltd (GRMN)
Debt-to-equity 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-equity 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-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $7,012,060K
= 0.00
Based on the provided data, Garmin Ltd has consistently maintained a debt-to-equity ratio of 0.00 across multiple reporting periods, indicating that the company has not utilized any debt to finance its operations. A debt-to-equity ratio of 0.00 suggests that the company relies solely on equity financing, which could indicate a conservative financial strategy or a strong cash position that allows the company to operate without taking on debt. It also suggests a low financial risk associated with the company's capital structure, as there is no debt that needs to be serviced or repaid. Understanding the context behind this consistency in the debt-to-equity ratio over time would require further analysis of Garmin's financial statements and business operations.
Peer comparison
Dec 31, 2023