GRMNGARMIN LTD
Search, Detection, Navigation, Guidance, Aeronautical Sys
- Revenue
- $7.2B
- 15% YoY
- Operating margin
- 25.9%
- 2.3% YoY
- EBITDA
- $2.0B
- 17% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear98% of net incomeCash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear45% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear8% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $5.0B | $4.9B | $5.2B | $6.3B | $7.2B | 15% |
| Operating income | $1.2B | $1.0B | $1.1B | $1.6B | $1.9B | 18% |
| Net income | $1.1B | $974M | $1.3B | $1.4B | $1.7B | 18% |
| Operating cash flow | $1.0B | $788M | $1.4B | $1.4B | $1.6B | 14% |
| Capex | $308M | $244M | $194M | $194M | $270M | 40% |
| Stock-based comp | $93M | $77M | $101M | $137M | $166M | 21% |
| Dividends | $491M | $679M | $559M | $572M | $664M | 16% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $5M · 10
- Net
- −$5M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $8M | $8M | 191 | 154 |
| FY2024 | $7M | $18M | 191 | 145 |
| FY2023 | $7M | $11M | 115 | 112 |
| FY2022 | $5M | $901K | 81 | 78 |
| FY2021 | $4M | $6M | 114 | 124 |