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Garmin (MEX:GRMN N) E10 : MXN99.39 (As of Mar. 2025)


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What is Garmin E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Garmin's adjusted earnings per share data for the three months ended in Mar. 2025 was MXN35.188. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is MXN99.39 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Garmin's average E10 Growth Rate was 13.40% per year. During the past 3 years, the average E10 Growth Rate was 10.70% per year. During the past 5 years, the average E10 Growth Rate was 9.80% per year. During the past 10 years, the average E10 Growth Rate was 5.70% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Garmin was 11.40% per year. The lowest was 1.00% per year. And the median was 7.40% per year.

As of today (2025-07-01), Garmin's current stock price is MXN3870.00. Garmin's E10 for the quarter that ended in Mar. 2025 was MXN99.39. Garmin's Shiller PE Ratio of today is 38.94.

During the past 13 years, the highest Shiller PE Ratio of Garmin was 50.32. The lowest was 11.45. And the median was 25.66.


Garmin E10 Historical Data

The historical data trend for Garmin's E10 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 E10 Chart

Garmin Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 64.83 74.96 70.62 60.38 102.99

Garmin Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 73.43 83.86 87.45 102.99 99.39

Competitive Comparison of Garmin's E10

For the Scientific & Technical Instruments subindustry, Garmin's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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's Shiller PE Ratio Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Garmin's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Garmin's Shiller PE Ratio falls into.


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Garmin E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Garmin's adjusted earnings per share data for the three months ended in Mar. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=35.188/107.7224*107.7224
=35.188

Current CPI (Mar. 2025) = 107.7224.

Garmin Quarterly Data

per share eps CPI Adj_EPS
201506 11.297 100.464 12.113
201509 10.646 99.785 11.493
201512 12.037 99.386 13.047
201603 7.918 99.475 8.574
201606 15.719 100.088 16.918
201609 12.761 99.604 13.801
201612 14.844 99.380 16.090
201703 23.725 100.040 25.547
201706 16.991 100.285 18.251
201709 14.518 100.254 15.600
201712 14.337 100.213 15.411
201803 12.354 100.836 13.198
201806 19.650 101.435 20.868
201809 18.144 101.246 19.305
201812 19.635 100.906 20.961
201903 14.355 101.571 15.224
201906 22.474 102.044 23.725
201909 23.493 101.396 24.959
201912 35.645 101.063 37.994
202003 19.696 101.048 20.997
202006 22.159 100.743 23.694
202009 36.008 100.585 38.563
202012 34.413 100.241 36.981
202103 23.303 100.800 24.903
202106 32.646 101.352 34.698
202109 27.553 101.533 29.233
202112 30.361 101.776 32.135
202203 21.703 103.205 22.653
202206 26.757 104.783 27.508
202209 21.925 104.835 22.529
202212 29.829 104.666 30.700
202303 18.926 106.245 19.189
202306 25.716 106.576 25.993
202309 23.341 106.570 23.594
202312 47.867 106.461 48.434
202403 23.733 107.355 23.814
202406 28.579 107.991 28.508
202409 40.759 107.468 40.856
202412 46.925 107.128 47.185
202503 35.188 107.722 35.188

Add all the adjusted EPS together and divide 10 will get our e10.


Garmin  (MEX:GRMN N) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Garmin's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=3870.00/99.39
=38.94

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Garmin was 50.32. The lowest was 11.45. And the median was 25.66.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Garmin E10 Related Terms

Thank you for viewing the detailed overview of Garmin's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Garmin Business Description

Address
Muhlentalstrasse 2, Schaffhausen, CHE, 8200
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, among many others. Garmin operates in 100 countries and sells its products via distributors as well as relationships with original equipment manufacturers.

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