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Garmin Valuation Multiples
Discover revenue and EBITDA valuation multiples for Garmin and similar public comparables like Panasonic, Nintendo, Quanta Computer, Nike and more.
Garmin Overview
About Garmin
Garmin produces GPS-enabled hardware and software for five sectors: fitness, outdoors, automotive, aviation, and marine. Garmin has built a strong reputation for durable, high-precision devices through a vertically integrated design and manufacturing approach. The company’s product lines include smartwatches, fitness trackers, communication equipment, and a comprehensive suite of systems for marine and aviation navigation. Garmin operates globally, with its business focused primarily on North America and Europe.
Founded
2010
HQ
Employees
23.0K
Website
Financials (LTM)
EV
$48B
Garmin Financials
Garmin reported last 12-month revenue of $7B and EBITDA of $2B.
In the same LTM period, Garmin generated $4B in gross profit, $2B in EBITDA, and $2B in net income.
Revenue (LTM)
Garmin P&L
In the most recent fiscal year, Garmin reported revenue of $7B and EBITDA of $2B.
Garmin expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $7B | XXX | $7B | XXX | XXX | XXX |
| Gross Profit | $4B | XXX | $4B | XXX | XXX | XXX |
| Gross Margin | 59% | XXX | 59% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 29% | XXX | XXX | XXX |
| EBIT Margin | 26% | XXX | 26% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Net Margin | 23% | XXX | 23% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Garmin Stock Performance
Garmin has current market cap of $50B, and enterprise value of $48B.
Market Cap Evolution
Garmin's stock price is $261.57.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $48B | $50B | 1.8% | XXX | XXX | XXX | $8.64 |
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Start Free TrialGarmin Valuation Multiples
Garmin trades at 6.4x EV/Revenue multiple, and 22.5x EV/EBITDA.
EV / Revenue (LTM)
Garmin Financial Valuation Multiples
As of April 14, 2026, Garmin has market cap of $50B and EV of $48B.
Equity research analysts estimate Garmin's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Garmin has a P/E ratio of 29.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $50B | XXX | $50B | XXX | XXX | XXX |
| EV (current) | $48B | XXX | $48B | XXX | XXX | XXX |
| EV/Revenue | 6.4x | XXX | 6.6x | XXX | XXX | XXX |
| EV/EBITDA | 22.5x | XXX | 23.1x | XXX | XXX | XXX |
| EV/EBIT | 24.9x | XXX | 25.5x | XXX | XXX | XXX |
| EV/Gross Profit | 10.9x | XXX | 11.2x | XXX | XXX | XXX |
| P/E | 29.5x | XXX | 30.3x | XXX | XXX | XXX |
| EV/FCF | 32.9x | XXX | 35.1x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Garmin Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Garmin Margins & Growth Rates
Garmin's revenue in the last 12 month grew by 10%.
Garmin's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.
Garmin's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Garmin's rule of X is 54% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Garmin Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 10% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 29% | XXX | XXX | XXX |
| EBITDA Growth | 10% | XXX | 10% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 39% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 54% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| R&D Expenses to Revenue | 16% | XXX | 16% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 33% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Garmin Public Comps
See public comps and valuation multiples for other Consumer Electronics and Fitness & Wellness comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Garmin | XXX | XXX | XXX | XXX | XXX | XXX |
| Panasonic | XXX | XXX | XXX | XXX | XXX | XXX |
| Nintendo | XXX | XXX | XXX | XXX | XXX | XXX |
| Quanta Computer | XXX | XXX | XXX | XXX | XXX | XXX |
| Nike | XXX | XXX | XXX | XXX | XXX | XXX |
| NEC | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Garmin M&A Activity
Garmin acquired XXX companies to date.
Last acquisition by Garmin was on XXXXXXXX, XXXXX. Garmin acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Garmin
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialGarmin Investment Activity
Garmin invested in XXX companies to date.
Garmin made its latest investment on XXXXXXXX, XXXXX. Garmin invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Garmin
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Garmin
| When was Garmin founded? | Garmin was founded in 2010. |
| Where is Garmin headquartered? | Garmin is headquartered in Switzerland. |
| How many employees does Garmin have? | As of today, Garmin has over 23K employees. |
| Who is the CEO of Garmin? | Garmin's CEO is Clifton A. Pemble. |
| Is Garmin publicly listed? | Yes, Garmin is a public company listed on NYSE. |
| What is the stock symbol of Garmin? | Garmin trades under GRMN ticker. |
| When did Garmin go public? | Garmin went public in 2000. |
| Who are competitors of Garmin? | Garmin main competitors are Panasonic, Nintendo, Quanta Computer, Nike. |
| What is the current market cap of Garmin? | Garmin's current market cap is $50B. |
| What is the current revenue of Garmin? | Garmin's last 12 months revenue is $7B. |
| What is the current revenue growth of Garmin? | Garmin revenue growth (NTM/LTM) is 10%. |
| What is the current EV/Revenue multiple of Garmin? | Current revenue multiple of Garmin is 6.4x. |
| Is Garmin profitable? | Yes, Garmin is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Garmin? | Garmin's last 12 months EBITDA is $2B. |
| What is Garmin's EBITDA margin? | Garmin's last 12 months EBITDA margin is 28%. |
| What is the current EV/EBITDA multiple of Garmin? | Current EBITDA multiple of Garmin is 22.5x. |
| What is the current FCF of Garmin? | Garmin's last 12 months FCF is $1B. |
| What is Garmin's FCF margin? | Garmin's last 12 months FCF margin is 20%. |
| What is the current EV/FCF multiple of Garmin? | Current FCF multiple of Garmin is 32.9x. |
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