Projected Income Statement: Garmin Ltd.

Forecast Balance Sheet: Garmin Ltd.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 -1,404 -1,846 -1,846 -1,452 -1,968 -2,340 -2,889 -3,543
Change - -231.48% -200% -178.66% -235.54% -218.9% -223.46% -222.64%
Announcement Date 2/19/20 2/17/21 2/16/22 2/22/23 2/21/24 - - -
1USD in Million
Estimates

Cash Flow Forecast: Garmin Ltd.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 118 185.4 307.6 244.3 193.5 211.8 276.1 267
Change - 57.08% 65.93% -20.59% -20.78% 9.47% 30.32% -3.29%
Free Cash Flow (FCF) 1 580.5 949.9 704.8 544 1,183 1,153 1,258 1,439
Change - 63.62% -25.8% -22.82% 117.43% -2.5% 9.08% 14.41%
Announcement Date 2/19/20 2/17/21 2/16/22 2/22/23 2/21/24 - - -
1USD in Million
Estimates

Forecast Financial Ratios: Garmin Ltd.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 27.99% 28.21% 27.56% 24.52% 24.29% 27.27% 27.92% 27.7%
EBIT Margin (%) 25.17% 25.18% 24.46% 21.15% 20.89% 24.32% 24.69% 24.48%
EBT Margin (%) 26.27% 26.36% 24.22% 21.91% 22.96% 25.9% 26.48% 25.47%
Net margin (%) 25.35% 23.7% 21.72% 20.03% 24.67% 21.97% 22.26% 21.15%
FCF margin (%) 15.45% 22.69% 14.14% 11.19% 22.62% 18.7% 18.73% 19.72%
FCF / Net Income (%) 60.95% 95.72% 65.12% 55.87% 91.71% 85.14% 84.15% 93.23%

Profitability

        
ROA 14.7% 15.04% 14.54% 12.49% 15.79% 14.16% 14.13% 14.51%
ROE 18.95% 19.25% 18.61% 15.81% 19.52% 18.11% 17.29% 17.3%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 3.14% 4.43% 6.17% 5.03% 3.7% 3.44% 4.11% 3.66%
CAPEX / EBITDA (%) 11.22% 15.7% 22.4% 20.5% 15.24% 12.6% 14.73% 13.21%
CAPEX / FCF (%) 20.33% 19.52% 43.65% 44.91% 16.36% 18.37% 21.95% 18.55%

Items per share

        
Cash flow per share 1 3.659 5.916 5.245 4.083 7.166 8.452 10.2 -
Change - 61.67% -11.35% -22.14% 75.49% 17.95% 20.67% -
Dividend per Share 1 2.28 2.44 2.68 2.92 2.92 3.008 3.094 3.273
Change - 7.02% 9.84% 8.96% 0% 3.01% 2.86% 5.8%
Book Value Per Share 1 25.14 28.79 31.74 32.38 36.64 40.22 44.55 49.49
Change - 14.54% 10.24% 2% 13.15% 9.77% 10.78% 11.08%
EPS 1 4.99 5.17 5.61 5.04 6.71 7.024 7.721 8.237
Change - 3.61% 8.51% -10.16% 33.13% 4.68% 9.92% 6.68%
Nbr of stocks (in thousands) 190,103 191,237 192,322 191,664 191,331 192,025 192,025 192,025
Announcement Date 2/19/20 2/17/21 2/16/22 2/22/23 2/21/24 - - -
1USD
Estimates
2024 *2025 *
P/E ratio 31x 28.2x
PBR 5.41x 4.89x
EV / Sales 6.4x 5.79x
Yield 1.38% 1.42%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
A
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
10
Last Close Price
217.67USD
Average target price
192.26USD
Spread / Average Target
-11.67%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. GRMN Stock
  4. Financials Garmin Ltd.