$11.7 B

GRMN Mkt cap, 15-Oct-2018

$1.6 B

Garmin Revenue Q2, 2018
Garmin Gross profit (Q2, 2018)949.8 M
Garmin Gross profit margin (Q2, 2018), %59.2%
Garmin Net income (Q2, 2018)319.7 M
Garmin EBIT (Q2, 2018)359.7 M
Garmin Cash, 30-Jun-2018946.7 M

Garmin Revenue

Garmin revenue was $3.09 b in FY, 2017 which is a 2.3% year over year increase from the previous period.

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Garmin Revenue Breakdown

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Garmin revenue breakdown by business segment: 16.2% from Aviation, 24.3% from Auto, 12.1% from Marine, 24.7% from Fitness and 22.6% from Outdoor

Garmin Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

2.9b2.8b3.0b3.1b

Revenue growth, %

9%(2%)7%2%

Cost of goods sold

1.3b1.3b1.3b1.3b

Gross profit

1.6b1.5b1.7b1.8b

Gross profit Margin, %

56%55%56%58%

Sales and marketing expense

146.6m167.2m177.1m164.7m

R&D expense

372.0m394.9m468.0m511.6m

General and administrative expense

395.1m427.0m410.6m438.0m

Operating expense total

913.8m989.1m1.1b1.1b

EBIT

690.6m549.6m623.9m668.9m

EBIT margin, %

24%19%21%22%

Interest income

35.6m29.7m33.4m36.9m

Pre tax profit

723.7m567.2m629.7m682.3m

Income tax expense

359.5m111.0m118.9m(12.7m)

Net Income

364.2m456.2m510.8m695.0m

Garmin Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

1.2b833.1m846.9m891.5mwdxefcqufszuzezftuxetqsqxt

Accounts Receivable

570.2m531.5m527.1m590.9m

Prepaid Expenses

48.6m81.6m89.9m153.9m

Inventories

48.6m81.6m484.8m517.6m

Current Assets

2.5b2.2b2.3b2.4b

PP&E

430.9m446.1m482.9m595.7m

Total Assets

4.7b4.5b4.5b5.0b

Accounts Payable

149.1m178.9m172.4m169.6m

Dividends Payable

185.3m193.0m96.2m96.0m

Short-term debt

Current Liabilities

1.0b866.0m782.7m828.7m

Long-term debt

Total Debt

Common Stock

1.8b1.8b18.0m18.0m

Additional Paid-in Capital

73.5m62.2m1.8b1.8b

Retained Earnings

1.9b1.9b2.1b2.4b

Total Equity

3.4b3.3b3.4b3.8b

Financial Leverage

1.4 x1.3 x1.3 x1.3 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

1.2b938.2m914.9m857.7m801.5m912.6m833.6m859.6m891.3m899.0m946.7m

Accounts Receivable

425.7m502.0m431.9m408.3m510.3m461.4m391.3m514.9m457.4m409.7m533.1m

Prepaid Expenses

57.6m83.7m72.7m96.4m93.8m90.7m94.3m106.8m107.3m

Inventories

470.4m458.5m503.2m517.8m508.2m534.7m533.2m525.2m107.3m547.4m501.5m

Current Assets

2.5b2.3b2.2b2.1b2.2b2.2b2.2b2.3b2.3b2.2b2.3b

PP&E

436.1m445.7m439.1m449.0m450.7m454.2m503.8m517.3m554.4m604.8m637.2m

Total Assets

4.5b4.4b4.4b4.4b4.5b4.6b4.6b4.7b4.8b4.9b5.0b

Accounts Payable

125.7m146.1m158.7m137.2m151.9m148.0m136.9m161.4m158.6m136.1m166.5m

Dividends Payable

92.0m389.3m292.0m96.4m384.8m288.5m286.9m191.2m

Current Liabilities

824.3m961.7m894.7m680.7m1.0b920.0m571.5m928.5m846.0m557.8m929.1m

Common Stock

1.8b1.8b1.8b1.8b1.8b18.0m18.0m18.0m18.0m

Additional Paid-in Capital

80.6m85.2m89.9m70.4m73.3m1.9b1.8b1.8b1.9b1.8b1.8b

Retained Earnings

1.9b1.7b1.8b2.0b1.8b1.9b2.3b2.1b2.2b2.5b2.3b

Total Equity

3.5b3.2b3.2b3.4b3.2b3.4b3.7b3.5b3.6b4.0b3.8b

Financial Leverage

1.3 x1.4 x1.4 x1.3 x1.4 x1.4 x1.2 x1.4 x1.3 x1.2 x1.3 x

Garmin Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

364.2m456.2m510.8m695.0m

Depreciation and Amortization

48.4m51.3m55.8m59.9m

Accounts Receivable

(27.0m)22.5m9.0m(40.1m)

Inventories

(76.0m)(120.0m)(2.5m)(38.6m)

Accounts Payable

9.0m36.1m(11.5m)(17.2m)

Cash From Operating Activities

522.7m280.5m705.7m660.8m

Purchases of PP&E

(73.3m)(80.6m)(91.0m)(139.7m)

Cash From Investing Activities

131.3m(112.0m)(121.5m)(194.5m)

Dividends Paid

(360.1m)(378.1m)(481.5m)(383.0m)

Cash From Financing Activities

(599.6m)(500.1m)(561.7m)(448.4m)

Net Change in Cash

17.1m(363.2m)13.8m44.6m

Interest Paid

Income Taxes Paid

175.5m252.9m115.5m106.1m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2018Q2, 2018Q3, 2017Q1, 2018Q2, 2018

Net Income

66.8m204.5m323.8m88.1m249.2m374.2m237.8m408.8m556.2m129.4m319.7m

Depreciation and Amortization

18.9m38.1m58.4m20.2m41.5m62.5m21.7m42.8m43.4m23.1m48.2m

Accounts Receivable

129.4m60.0m123.9m130.0m24.4m76.4m135.3m23.8m85.0m187.7m48.1m

Inventories

(56.9m)(45.6m)(111.0m)(18.9m)(16.7m)(41.0m)(41.4m)(34.6m)(86.6m)(26.5m)(4.7m)

Accounts Payable

(26.0m)(7.1m)16.9m(45.5m)(32.3m)(40.7m)(44.2m)(20.9m)(24.5m)(36.7m)1.6m

Cash From Operating Activities

81.7m(15.7m)122.1m129.4m279.4m492.4m120.4m263.8m462.6m214.2m438.1m

Purchases of PP&E

(18.1m)(39.7m)(53.3m)(13.9m)(28.6m)(42.2m)(25.5m)(39.8m)(85.2m)(26.3m)(93.1m)

Cash From Investing Activities

23.2m7.1m2.8m8.6m(84.5m)(75.9m)(13.3m)(18.7m)(89.1m)(112.6m)(185.9m)

Dividends Paid

(92.0m)(183.9m)(281.2m)(96.6m)(193.1m)(289.3m)(96.0m)(191.7m)(287.3m)

Cash From Financing Activities

(107.7m)(231.7m)(379.7m)(116.3m)(229.4m)(344.2m)(127.4m)(248.9m)(355.1m)(100.8m)(188.8m)

Net Change in Cash

(24.9m)(258.1m)(281.4m)24.6m(31.6m)79.5m(13.3m)12.7m44.4m

Garmin Ratios

USDY, 2018

Financial Leverage

1.3 x
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Garmin Operating Metrics

FY, 2014FY, 2015FY, 2016FY, 2017

Patents Issued

880 950 1.05 k1.10 k

Trademarks

610 640 700 750
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