Garmin (Garmin) Days Payable

: 38.50 (As of Dec. 2023)

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Garmin's average Accounts Payable for the three months ended in Dec. 2023 was $261 Mil. Garmin's Cost of Goods Sold for the three months ended in Dec. 2023 was $618 Mil. Hence, Garmin's Days Payable for the three months ended in Dec. 2023 was 38.50.

The historical rank and industry rank for Garmin's Days Payable or its related term are showing as below:

GRMN' s Days Payable Range Over the Past 10 Years
Min: 38.27 Med: 48.62 Max: 54.86
Current: 39.3

During the past 13 years, Garmin's highest Days Payable was 54.86. The lowest was 38.27. And the median was 48.62.

GRMN's Days Payable is ranked worse than
79.03% of 2418 companies
in the Hardware industry
Industry Median: 67.985 vs GRMN: 39.30

Garmin's Days Payable declined from Dec. 2022 (39.10) to Dec. 2023 (38.50). It may suggest that Garmin accelerated paying its suppliers.

Garmin Days Payable Historical Data

The historical data trend for Garmin's Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Garmin Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Payable

53.40

53.48

54.86

51.76

38.27

Garmin Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Days Payable																39.10	38.85	37.60	43.37	38.50

Competitive Comparison

For the Scientific & Technical Instruments subindustry, Garmin's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Garmin Days Payable Distribution

For the Hardware industry and Technology sector, Garmin's Days Payable distribution charts can be found below:

* The bar in red indicates where Garmin's Days Payable falls into.

Garmin Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Garmin's Days Payable for the fiscal year that ended in Dec. 2023 is calculated as

	Days Payable (A: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Dec. 2022 )	+	Accounts Payable (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (212.417	+	253.79)	/	2 )	/	2223.297	*	365
=	233.1035					/	2223.297	*	365
=	38.27

Garmin's Days Payable for the quarter that ended in Dec. 2023 is calculated as:

	Days Payable (Q: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Sep. 2023 )	+	Accounts Payable (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (268.03	+	253.79)	/	2 )	/	618.352	*	365 / 4
=	260.91					/	618.352	*	365 / 4
=	38.50

Garmin Days Payable Related Terms

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Garmin (Garmin) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Garmin Ltd (NYSE:GRMN) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

GRMN:Mexico G1RM34:Brazil GRMN:Argentina

Address

Muhlentalstrasse 2, Schaffhausen, CHE, 8200

Website

https://www.garmin.com

Garmin produces GPS-enabled hardware and software for five verticals: fitness, outdoors, auto, aviation, and marine. The company relies on licensing mapping data to enable its hardware specialized for often niche activities like scuba diving or sailing. Garmin operates in 100 countries and sells its products via distributors as well as relationships with original equipment manufacturers.

Executives

Clifton A Pemble	director, officer: President and CEO
Cheng-wei Wang	officer: General Manager - Garmin Corp.	NO. 68, ZHANGSHU 2ND ROAD, XIZHI DISTRICT, NEW TAIPEI CITY F5 221
Sean Biddlecombe	officer: General Manager, Garmin Europe	LIBERTY HOUSE, HOUNSDOWN BUSINESS PARK, SOUTHAMPTON X0 SO40 9LR
Douglas G. Boessen	officer: CFO and Treasurer	3231 S.E. SIXTH AVENUE, TOPEKA KS 66607
Patrick Desbois	officer: Vice President, Operations	1200 EAST 151ST STREET, OLATHE KS 66062
Matthew Munn	officer: VP, Man. Director - Auto OEM	28001 CABOT DRIVE, SUITE 100, NOVI MI 48377
Philip Straub	officer: VP, Man. Director - Aviation	1200 EAST 151ST STREET, OLATHE KS 66062
Jonathan Burrell	10 percent owner	6300 WEST 143RD STREET, OVERLAND PARK KS 66223
Joseph J Hartnett	director	425 NORTH MARTINGALE ROAD, SUITE 1000, SCHAUMBURG IL 60173
Min H Kao	director, 10 percent owner, officer: Chairman and CEO	1200 E. 151ST ST., OLATHE KS 66062
Catherine A. Lewis	director	325 NE NORTHGATE CROSSING, LEE'S SUMMIT MO 64064
Pao-chang Huang	officer: General Manager - Garmin Corp.	NO. 68, JANGSHU 2ND ROAD, SIJHIH, TAPEI F5 ROC
Danny J Bartel	officer: Vice President,Worldwide Sales	1200 EAST 151ST STREET, OLATHE KS 66062
Donald Eller	director
Andrew R Etkind	officer: General Counsel and Secretary	1200 E 151 ST ST, OLATHE KS 66062