Garmin Ltd (GRMN)
Debt-to-equity ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 7,848,400 | 7,506,550 | 7,004,980 | 7,246,100 | 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 |
| 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, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $7,848,400K
= 0.00
Garmin Ltd has consistently maintained a debt-to-equity ratio of 0.00 across all reporting periods from March 31, 2020, to December 31, 2024. A debt-to-equity ratio of 0.00 indicates that the company has no financial leverage and is primarily financed by equity rather than debt. This signifies a conservative financial structure, with a lower risk of insolvency due to the absence of debt obligations. The company's ability to operate without relying on debt financing may suggest strong internal financial resources or effective management of capital structure.
Peer comparison
Dec 31, 2024
Company name
Symbol
Debt-to-equity ratio
Garmin Ltd
GRMN
0.00
L3Harris Technologies Inc
LHX
0.58
Nextracker Inc. Class A Common Stock
NXT
0.15
Northrop Grumman Corporation
NOC
0.96
Teledyne Technologies Incorporated
TDY
0.29