Business description: Garmin Ltd.

Garmin Ltd. is one of the world's leaders in designing, producing, and marketing satellite geopositioning systems (GPS). The activity is organized around two families of products:

- marine and land geopositioning systems: tracers and sensors, pocket assistants, automobile guidance systems, sporting equipment (equipped with detectors for speed, distance traveled, heart rate, etc.);

- aerial geopositioning equipment: high-frequency communication transmitters, aerial display products, digital transponders (for transmitting altitude and flight number, broadcast by towers and control radar systems), beacon receivers, audio panels, etc.

Net sales break down by area of activity between outdoor activities (31.2%), sports and fitness (28.2%), marine (17%), aviation (13.9%), and automotive (9.7%).

At the end of 2024, the group had 9 production sites located in the United States (3), Taiwan (3), China, the Netherlands, and Poland.

Net sales are distributed geographically as follows: Americas (48.2%), Europe/Middle East/Africa (36.8%) and Asia/Pacific (15%).

Number of employees: 23,000

Sales by Activity: Garmin Ltd.

Fiscal Period: December 2021 (USD) 2022 (USD) 2023 (USD) 2024 (USD) 2025 (USD)

Fitness

1.53B 1.11B 1.34B 1.77B 2.36B

Outdoor

1.28B 1.5B 1.7B 1.96B 2.05B

Marine

875M 904M 917M 1.07B 1.18B

Aviation

712M 793M 846M 877M 987M

Auto OEM

255M 284M 423M 611M 665M

Auto Consumer

325M 275M - - -

Geographical breakdown of sales: Garmin Ltd.

Fiscal Period: December 2021 (USD) 2022 (USD) 2023 (USD) 2024 (USD) 2025 (USD)

Americas

2.35B 2.43B 2.61B 3.04B 3.45B

Europe, The Middle East and Africa (EMEA)

1.86B 1.63B 1.78B 2.32B 2.74B

Asia Pacific and Australian Continent (APAC)

774M 798M 838M 942M 1.05B

Executive Committee: Garmin Ltd.

Manager TitleAgeSince
Chief Executive Officer 60 31/12/2012
Director of Finance/CFO 63 30/06/2014
Chief Tech/Sci/R&D Officer 63 30/06/2007
Chief Operating Officer 46 30/06/2024
Chief Operating Officer 58 31/12/2010

Composition of the Board of Directors: Garmin Ltd.

Director TitleAgeSince
Director/Board Member 60 31/07/2004
Chairman 77 31/07/2004
Director/Board Member 70 06/06/2013
Director/Board Member 62 31/05/2018
Director/Board Member 73 06/06/2019
Director/Board Member 62 06/06/2024

Shareholders: Garmin Ltd.

NameEquities%Valuation
Vanguard Fiduciary Trust Co.
10.48 %
20,163,896 10.48 % 5 098 M $
9.445 %
18,179,075 9.445 % 4 596 M $
BlackRock Advisors LLC
6.425 %
12,365,969 6.425 % 3 126 M $
4.999 %
9,621,290 4.999 % 2 433 M $
3.643 %
7,012,439 3.643 % 1 773 M $

Company details: Garmin Ltd.

Garmin Ltd.

Mühlentalstrasse 36/38

8200, Schaffhausen

+41 52 630 1600

http://www.garmin.com
address Garmin Ltd.(GRMN)

Group companies: Garmin Ltd.

NameCategory and Sector
Garmin Austria GmbH

Other Communications & Networking

Change 5d. change 1-year change 3-years change Capi.($)
-0.53%-3.73%+12.08%+153.94% 46.45B
+1.96%-1.60%+25.20%+60.01% 307B
+1.79%+12.05%+80.02%+281.32% 175B
+2.97%-0.95%+158.49%+401.01% 157B
+3.99%-2.98%+434.28%+2,131.35% 88.39B
+1.33%-3.35%+11.65%+77.49% 76.88B
+4.89%-3.23%+1,070.53%+1,203.84% 47.98B
+2.27%+0.95%+155.73%+190.63% 46.58B
+5.91%+1.29%+414.82%+581.12% 47.7B
-1.00%-5.15%+40.42%+52.14% 43.81B
Average +1.42%+0.49%+240.32%+513.29% 103.71B
Weighted average by Cap. +1.35%+1.40%+160.71%+413.52%
Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
241.34USD
Average target price
260.25USD
Spread / Average Target
+7.84%

Quarterly revenue - Rate of surprise

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