10 Year Financial Data of Garmin, Ltd. (GRMN)

36.88 (1y: -16%)

Market Cap	7.12 B	P/E(ttm)	13.30
Enterprise Value	5.88 B	P/B	2.04

GRMN- NAS (USA)
Garmin, Ltd.

Currently 1/5

Business Predictability Rank: 1-Star
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
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$36.88

2 Severe Warning Signs 1 Good Sign

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Annual Rates (per share)	10 yrs*	5 yrs*	12 months*
Revenue Growth (%)	21.4	-3.9	-4.7
EBITDA Growth (%)	13.9	-7.1	1.5
Free Cash Flow Growth (%)	26.7	-3.8	-18.2
Book Value Growth (%)	21.2	13.1	6.7

*12-month growth rate is calculated with the per share revenue (EBITDA, FCF, earnings) of the last 12 months over the per share revenue (EBITDA, FCF, earnings) over the previous 12 months. 5-year and 10-year growth rates are calculated with least-square regression based on the 5-year and 10-year numbers.

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See this page for the explanation of the data and charts * All numbers are in millions except for per share data

Per Share Data	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue per Share ($)	2.63	3.50	4.71	8.11	14.47	16.58	14.65	13.58	14.15	13.84	13.71	2.84	3.66	3.43	3.91	2.71
EBITDA per Share	1.13	1.40	1.75	2.74	4.42	4.46	4.39	3.69	3.33	3.54	3.47	0.59	1.17	0.88	0.90	0.52
Free Cashflow per Share	0.65	0.60	1.01	1.22	2.38	3.49	5.16	3.71	4.01	3.26	2.92	0.58	1.07	0.79	0.82	0.24
Earnings per Share ($)	0.82	0.95	1.43	2.35	3.89	3.48	3.50	2.95	2.67	2.76	2.78	0.44	0.95	0.72	0.66	0.45
Dividends Per Share	0.25	0.25	0.25	0.50	0.75	0.75	0.75	1.50	1.60	1.75	1.80	0.40	0.45	0.45	0.45	0.45
Book Value per Share	3.44	4.30	5.30	7.12	10.69	10.57	14.10	15.40	16.71	18.00	18.42	17.27	16.36	17.27	17.99	18.42
Month End Stock Price	27.24	30.42	33.18	56.89	97.00	19.17	30.70	30.99	39.81	40.75	33.05	46.98	38.29	41.74	40.75	33.05
Ratios	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Return on Equity %	23.80	22.00	26.90	33.00	36.40	32.90	24.80	19.20	16.00	15.40	10.00	10.40	23.20	16.40	14.80	10.00
Return on Assets %	20.80	18.40	22.80	27.10	26.00	25.10	18.40	14.70	11.60	11.30	7.60	8.00	16.80	12.00	10.80	7.60
Return on Capital - Joel Greenblatt %	107	85.10	80.80	82.50	78.20	69.40	75.60	65.50	77.30	92.60	36.40	45.60	156	102	91.60	36.40
Debt to Equity	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--

Gross Margin %	57.70	53.90	52.10	49.70	46.00	44.50	49.00	50.10	48.50	53.00	51.90	51.00	58.70	53.40	48.60	51.90
Operating Margin %	39.60	35.50	32.90	31.30	28.50	24.70	26.70	23.70	20.10	22.20	15.00	16.20	28.40	23.80	19.50	15.00
Net Margin %	31.20	27.00	30.30	29.00	26.90	21.00	23.90	21.70	18.90	20.00	16.70	15.60	25.90	20.90	16.80	16.70

Days Sales Outstanding	52.70	52.70	60.70	83.00	109	77.40	108	101	80.40	81.10	77.10	70.30	61.60	68.90	71.50	77.10
Days Inventory	146	161	148	111	107	80.00	75.30	105	102	111	141	136	118	129	89.90	141
Inventory Turnover	2.50	2.30	2.50	3.30	3.40	4.60	4.80	3.50	3.60	3.30	0.60	0.70	0.80	0.70	1.00	0.60

Debt to Revenue	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--
COGS to Revenue	0.42	0.46	0.48	0.50	0.54	0.56	0.51	0.50	0.51	0.47	0.48	0.49	0.41	0.47	0.51	0.48
Inventory to Revenue	0.17	0.20	0.19	0.15	0.16	0.12	0.11	0.14	0.14	0.14	0.74	0.73	0.54	0.66	0.51	0.74
Interest Exp. to Revenue %	1.21	1.23	1.90	2.02	1.31	1.00	0.80	0.88	1.19	1.29	1.67	1.74	1.20	1.19	1.15	1.67

Asset Turnover	0.67	0.68	0.75	0.94	0.97	1.20	0.77	0.67	0.62	0.56	0.12	0.13	0.16	0.15	0.16	0.12
Buyback Ratio	-2.40	-3.00	-3.10	-3.10	-2.00	-1.20	-0.50	--	-4.30	-4.20	-1.70	-3.30	-3.90	-0.60	-9.10	-1.70
Dividend Payout Ratio	0.31	0.27	0.18	0.21	0.19	0.22	0.21	0.51	0.60	0.63	1.00	0.90	0.48	0.63	0.68	1.00
Income Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue	573	763	1,028	1,774	3,180	3,494	2,946	2,690	2,759	2,716	2,691	557	718	672	769	532
Cost of Goods Sold	242	351	493	892	1,717	1,941	1,502	1,344	1,420	1,277	1,260	273	296	313	395	256
Gross Profit	331	411	535	882	1,463	1,554	1,444	1,346	1,339	1,438	1,431	284	422	359	374	276

Selling, General, &Admin. Expense	59.84	61.58	122	215	396	485	420	432	486	509	503	114	138	117	141	109
Research &Development	43.71	78.99	74.88	113	159	206	238	277	299	326	334	79.72	80.30	82.49	83.26	87.69
Earnings Before DDA	247	305	382	599	971	940	882	731	648	695	681	116	230	172	177	102

Depreciation, Depletion and Amortization	20.10	34.60	43.60	44.48	64.04	78.42	96.49	94.65	94.54	90.47	86.96	25.40	25.66	11.87	27.54	21.89

Operating Income	227	271	338	555	907	862	786	637	554	604	594	90.33	204	160	150	79.93
Interest Income/Expense	6.94	9.38	19.54	35.86	41.79	34.93	23.52	23.73	32.81	35.11	34.34	9.67	8.62	7.99	8.83	8.90
Net Income	179	206	311	514	855	733	704	585	521	542	544	86.86	186	140	129	88.67

Earnings per Share ($)	0.82	0.95	1.43	2.35	3.89	3.48	3.50	2.95	2.67	2.76	2.78	0.44	0.95	0.72	0.66	0.45
Total Shares Outstanding	218	218	218	219	220	211	201	198	195	196	196	196	196	196	196	196
Balance Sheet	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Cash and cash equivalents	327	314	366	410	745	709	1,111	1,285	1,398	1,384	1,239	1,375	1,365	1,370	1,384	1,239
Accounts Receivable	82.72	110	171	404	953	741	874	747	607	604	451	430	486	509	604	451
Inventory	96.79	155	200	271	505	425	310	388	398	390	396	407	384	443	390	396
Other Current Assets	32.96	57.60	63.93	84.20	130	109	98.66	78.57	153	158	228	136	146	151	158	228
Total Current Assets	540	637	801	1,169	2,333	1,984	2,394	2,499	2,556	2,536	2,314	2,349	2,381	2,473	2,536	2,314

Property, Plant and Equipment	105	172	179	251	374	445	441	428	417	410	408	413	408	408	410	408
Intangible Assets	42.31	49.49	35.87	67.58	196	231	222	185	252	233	223	255	246	253	233	223
Other Long Term Assets	170	259	346	409	389	264	769	877	1,246	1,641	1,626	1,308	1,427	1,497	1,641	1,626
Total Assets	857	1,117	1,362	1,897	3,291	2,925	3,826	3,989	4,471	4,819	4,570	4,325	4,463	4,631	4,819	4,570

Accounts Payable	52.30	98.15	132	227	693	479	656	575	664	656	355	389	682	644	656	355
Current Portion of Long-Term Debt	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--
Other Current Liabilities	52.14	78.12	63.15	111	109	--	27.91	94.51	195	253	250	206	219	239	253	250
Total Current Liabilities	104	176	195	338	802	479	684	669	858	909	605	595	902	884	909	605

Long-Term Debt	--	--	--	0.25	--	--	--	--	--	--	--	--	--	--	--	--
Other Long-Term Liabilities	2.82	5.27	9.49	1.19	139	220	306	270	356	378	347	351	350	359	378	347
Total Liabilities	107	182	205	339	941	699	989	939	1,215	1,287	952	945	1,252	1,243	1,287	952

Common Stock	1.08	1.08	1.08	1.08	1.09	1.00	1.00	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797
Retained Earnings	664	815	1,072	1,479	2,171	2,263	2,817	1,265	1,414	1,605	1,693	1,500	1,336	1,478	1,605	1,693
Additional Paid-In Capital	105	109	96.24	83.44	132	--	32.22	38.27	61.87	72.46	77.72	70.69	78.39	86.51	72.46	77.72
Treasury Stock	--	--	--	--	--	--	--	-107	-103	-81.28	-79.48	-98.78	-96.78	-95.32	-81.28	-79.48
Total Equity	750	936	1,157	1,558	2,351	2,226	2,836	3,050	3,257	3,532	3,618	3,379	3,211	3,388	3,532	3,618
Cashflow Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Net Income	179	206	311	514	855	733	704	585	521	542	544	86.86	186	140	129	88.67
Depreciation, Depletion and Amortization	20.10	34.60	43.60	44.48	64.04	78.42	96.49	94.65	94.54	90.47	86.96	25.40	25.66	11.87	27.54	21.89
Cash Flow from Others	-23.56	-31.36	-108	-197	-237	50.90	294	91.38	207	51.88	-9.29	9.97	11.34	12.68	17.88	-51.19
Cash Flow from Operations	175	209	247	362	682	862	1,094	771	822	685	622	122	223	165	175	59.36

Investment for Property, Plant & Equipement	-32.77	-78.15	-27.13	-96.02	-160	-127	-56.77	-35.98	-41.17	-45.23	-48.51	-8.69	-13.41	-9.94	-13.20	-11.96
Cash Flow from Acquisitions	-38.18	--	-1.48	-36.50	-129	-60.13	--	-12.12	-54.19	-7.70	-4.88	-2.82	-0.00	-1.19	-3.69	--
Cash Flow from Investing	-50.43	-184	-91.18	-226	-176	-56.35	-548	-72.87	-488	-496	-459	-54.85	-145	-104	-192	-17.96

Net Issuance of Stock	4.26	2.95	-16.96	-34.38	9.23	-663	-16.55	-226	0.04	4.05	2.89	2.57	1.10	0.76	-0.38	1.41
Net Issuance of Debt	-20.00	--	--	-0.01	-0.25	--	--	--	--	--	--	--	--	--	--	--
Cash Flow for Dividends	-54.04	-54.10	-53.97	-108	-163	-150	-150	-299	-311	-253	-351	-77.92	-87.72	-87.75	--	-176
Other Financing	--	--	--	9.66	17.43	5.02	5.15	13.96	3.31	-0.52	-1.12	0.86	0.44	0.51	-2.33	0.26
Cash Flow from Financing	-69.78	-51.15	-70.94	-133	-136	-808	-161	-511	-307	-250	-350	-74.48	-86.18	-86.49	-2.70	-174

Net Change in Cash	57.56	-24.42	84.44	2.97	370	-11.35	395	169	26.22	-55.98	-192	-1.37	-18.07	-20.65	-15.89	-138

Free Cash Flow	142	131	220	266	522	736	1,038	735	781	640	573	114	209	155	162	47.40
Valuation Ratios (Daily)	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

PE Ratio(ttm)
Price to Tangible Book
Price-to-Free-Cash-Flow ratio
PS Ratio
EV-to-Revenue
EV-to-EBITDA
EV-to-EBIT
Earnings Yield (Joel Greenblatt)
Forward Rate of Return
Shiller PE Ratio
Valuation and Quality	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Market Cap
Enterprise Value
Month End Stock Price
Net Cash (per share)
Net Current Asset Value (per share)
DCF (per share)
Median PS (per share)
Peter Lynch Fair Value (per share)
Graham Number (per share)
Altman Z-Score
Piotroski F-Score
Beneish M-Score

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GRMN Quarterly/Annuals Reports

GRMN: 10-Q - GARMIN LTD (0001121788) (Filer): (10-Q) - 2012-11-07
GRMN: 10-Q - GARMIN LTD (0001121788) (Filer): (10-Q) - 2012-08-08
GRMN: 10-Q - GARMIN LTD (0001121788) (Filer): (10-Q) - 2012-05-09
GRMN: 10-K - GARMIN LTD (0001121788) (Filer): (10-K) - 2012-02-29
GRMN: 10-Q/A - GARMIN LTD (0001121788) (Filer): (10-Q/A) - 2011-08-30

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