Garmin Ltd (GRMN) — Working Capital to Net Assets Ratio
Garmin Ltd (GRMN) has a Working Capital to Net Assets ratio of 50.5% as of December 2025. Working capital of $4.53 Billion (current assets of $6.25 Billion minus current liabilities of $1.72 Billion) is measured against net assets of $8.97 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See GRMN net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Garmin Ltd Working Capital to Net Assets (1999–2025)
This chart shows how Garmin Ltd's Working Capital to Net Assets ratio has evolved across 27 annual periods from 1999 to 2025. As of December 2025, the ratio stands at 50.5%, reflecting working capital of $4.53 Billion against net assets of $8.97 Billion USD. Check Garmin Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Garmin Ltd (1999–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Garmin Ltd from 1999 to 2025, covering 27 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see GRMN market cap.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 50.5% | $4.53 Billion | $8.97 Billion | $6.25 Billion | $1.72 Billion | ▲ +1.7 pp |
| 2024 | 48.8% | $3.83 Billion | $7.85 Billion | $5.34 Billion | $1.51 Billion | ▲ +3.8 pp |
| 2023 | 45.0% | $3.15 Billion | $7.01 Billion | $4.46 Billion | $1.31 Billion | ▲ +0.8 pp |
| 2022 | 44.2% | $2.74 Billion | $6.20 Billion | $3.96 Billion | $1.21 Billion | ▼ -1.8 pp |
| 2021 | 46.0% | $2.81 Billion | $6.11 Billion | $4.26 Billion | $1.45 Billion | ▲ +0.6 pp |
| 2020 | 45.4% | $2.51 Billion | $5.52 Billion | $3.67 Billion | $1.16 Billion | ▲ +3.2 pp |
| 2019 | 42.2% | $2.02 Billion | $4.79 Billion | $3.06 Billion | $1.04 Billion | ▲ +0.3 pp |
| 2018 | 41.9% | $1.74 Billion | $4.16 Billion | $2.67 Billion | $921.31 Million | ▲ +1.5 pp |
| 2017 | 40.4% | $1.54 Billion | $3.80 Billion | $2.36 Billion | $828.66 Million | ▼ -2.9 pp |
| 2016 | 43.3% | $1.48 Billion | $3.42 Billion | $2.26 Billion | $782.74 Million | ▲ +3.1 pp |
| 2015 | 40.2% | $1.35 Billion | $3.35 Billion | $2.21 Billion | $866.00 Million | ▼ -3.2 pp |
| 2014 | 43.4% | $1.48 Billion | $3.40 Billion | $2.51 Billion | $1.03 Billion | ▼ -2.8 pp |
| 2013 | 46.2% | $1.69 Billion | $3.66 Billion | $2.60 Billion | $905.30 Million | ▲ +0.1 pp |
| 2012 | 46.1% | $1.63 Billion | $3.53 Billion | $2.54 Billion | $909.03 Million | ▼ -6.5 pp |
| 2011 | 52.6% | $1.71 Billion | $3.26 Billion | $2.57 Billion | $858.28 Million | ▼ -7.4 pp |
| 2010 | 60.0% | $1.83 Billion | $3.05 Billion | $2.50 Billion | $669.04 Million | ▼ -0.3 pp |
| 2009 | 60.3% | $1.71 Billion | $2.84 Billion | $2.39 Billion | $683.67 Million | ▼ -7.3 pp |
| 2008 | 67.6% | $1.51 Billion | $2.23 Billion | $1.98 Billion | $479.18 Million | ▲ +2.5 pp |
| 2007 | 65.1% | $1.53 Billion | $2.35 Billion | $2.33 Billion | $801.88 Million | ▲ +11.8 pp |
| 2006 | 53.4% | $831.40 Million | $1.56 Billion | $1.17 Billion | $337.68 Million | ▲ +1.0 pp |
| 2005 | 52.3% | $605.68 Million | $1.16 Billion | $801.17 Million | $195.49 Million | ▲ +3.1 pp |
| 2004 | 49.2% | $460.70 Million | $935.86 Million | $636.97 Million | $176.27 Million | ▼ -8.9 pp |
| 2003 | 58.1% | $435.49 Million | $749.69 Million | $539.93 Million | $104.43 Million | ▼ -6.9 pp |
| 2002 | 65.0% | $391.82 Million | $602.50 Million | $465.23 Million | $73.41 Million | ▼ -1.9 pp |
| 2001 | 66.9% | $303.71 Million | $453.97 Million | $352.74 Million | $49.03 Million | ▼ -27.8 pp |
| 2000 | 94.7% | $345.98 Million | $365.24 Million | $388.02 Million | $42.04 Million | ▲ +9.6 pp |
| 1999 | 85.2% | $165.74 Million | $194.60 Million | $197.98 Million | $32.24 Million | — |