Question 1

What is Garmin's P/B ratio?

Accepted Answer

Garmin (GRMN) P/B ratio is 4.9× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Garmin?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Garmin specifically, the relevant sector benchmark is the current sector median of 6.0×.

Question 5

Is Garmin's P/B ratio high or low?

Accepted Answer

Garmin's P/B ratio of 4.9× is above its own 5-year average of 4.1× and below the sector median of 6.0×. That places the current reading at the 72th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Garmin's historical P/B ratio range?

Accepted Answer

In the available daily series, Garmin (GRMN) P/B ratio has ranged from a low of 1.7× in 2008 to a high of 13.0× in 2007. The 5-year average is 4.1× and the 5-year median is 4.3×.

Question 7

What was Garmin's P/B ratio in 2025?

Accepted Answer

Garmin (GRMN) P/B ratio at the end of 2025 was 4.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Garmin's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$39.53B	$8.97B	4.4×	-0.6×	Dec 27, 2025
2024	$39.62B	$7.85B	5.0×	+1.5×	Dec 31, 2024
2023	$24.60B	$7.01B	3.5×	+0.7×	Dec 31, 2023
2022	$17.68B	$6.20B	2.9×	-1.4×	Dec 31, 2022
2021	$26.19B	$6.11B	4.3×	+0.1×	Dec 31, 2021
2020	$22.89B	$5.52B	4.1×	+0.3×	Dec 31, 2020
2019	$18.55B	$4.79B	3.9×	+1.0×	Dec 31, 2019
2018	$11.96B	$4.16B	2.9×	-0.1×	Dec 31, 2018
2017	$11.18B	$3.80B	2.9×	+0.3×	Dec 31, 2017
2016	$9.13B	$3.42B	2.7×	+0.6×	Dec 31, 2016
2015	$7.04B	$3.35B	2.1×	-0.9×	Dec 31, 2015
2014	$10.11B	$3.40B	3.0×	+0.5×	Dec 31, 2014
2013	$9.02B	$3.66B	2.5×	+0.2×	Dec 31, 2013
2012	$7.95B	$3.53B	2.3×	-0.1×	Dec 31, 2012
2011	$7.74B	$3.26B	2.4×	+0.4×	Dec 31, 2011
2010	$6.03B	$3.05B	2.0×	-0.2×	Dec 31, 2010
2009	$6.15B	$2.84B	2.2×	+0.5×	Dec 31, 2009
2008	$3.82B	$2.23B	1.7×	-7.2×	Dec 31, 2008
2007	$21.02B	$2.35B	8.9×	+1.3×	Dec 31, 2007
2006	$11.94B	$1.56B	7.7×	+1.5×	Dec 31, 2006
2005	$7.17B	$1.16B	6.2×	-0.9×	Dec 31, 2005
2004	$6.61B	$935.86M	7.1×	-0.9×	Dec 31, 2004
2003	$5.94B	$749.69M	7.9×	+2.7×	Dec 31, 2003
2002	$3.17B	$602.50M	5.3×	+0.2×	Dec 31, 2002
2001	$2.29B	$453.97M	5.0×	—	Dec 31, 2001


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Unity Software (U)	3.2×
Synopsys (SNPS)	3.0×
Science Applications International (SAIC)	2.9×
Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
Amkor Technology (AMKR)	2.5×
EPAM Systems (EPAM)	2.1×
Qorvo (QRVO)	2.1×
IonQ (IONQ)	2.1×
Intel (INTC)	2.0×
Roper Technologies (ROP)	2.0×
Cognizant (CTSH)	1.9×
Okta (OKTA)	1.9×
Super Micro Computer (SMCI)	1.8×
Lyft (LYFT)	1.7×
Block (XYZ)	1.7×
Block (SQ)	1.6×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Skyworks Solutions (SWKS)	1.4×
Fiserv (FISV)	1.1×
Strategy (MSTR)	0.9×

P/B Ratio for Garmin (GRMN)

P/B Ratio daily chart for Garmin (GRMN)

Historical P/B Ratio for Garmin (GRMN) from 2001 to 2025

About P/B Ratio at Garmin (GRMN)

Garmin P/B Ratio by Year

Garmin P/B Ratio 2025: 4.4×

Garmin P/B Ratio 2024: 5.0×

Garmin P/B Ratio 2023: 3.5×

Garmin P/B Ratio 2022: 2.9×

Garmin P/B Ratio 2021: 4.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Garmin (GRMN) Key Financials

P/B Ratio daily chart for Garmin (GRMN)

Historical P/B Ratio for Garmin (GRMN) from 2001 to 2025

About P/B Ratio at Garmin (GRMN)

Garmin P/B Ratio by Year

Garmin P/B Ratio 2025: 4.4×

Garmin P/B Ratio 2024: 5.0×

Garmin P/B Ratio 2023: 3.5×

Garmin P/B Ratio 2022: 2.9×

Garmin P/B Ratio 2021: 4.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Garmin's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Garmin?

+Is Garmin's P/B ratio high or low?

+What is Garmin's historical P/B ratio range?

+What was Garmin's P/B ratio in 2025?

+Why does Garmin's P/B ratio change over time?

Garmin (GRMN) Key Financials