Garmin (GRMN) Return on Capital Employed [ROCE] (2009 - 2026)
Garmin's Return on Capital Employed [ROCE] was 23.26% in Q2 2026, up 1.61 percentage points from 21.65% a year earlier and up 2.69 percentage points from the prior quarter.
Powered by 
Analysis
Garmin (GRMN) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Garmin came in at 21.84%, up 0.89 percentage points from FY2024.
- Return on Capital Employed [ROCE] has now increased for three consecutive years, with a five-year change of +2.44 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 20.95% in FY2024 (+5.02 pp), 15.93% in FY2023 (+0.31 pp), 15.62% in FY2022 (-4.71 pp) and 20.33% in FY2021 (+0.93 pp).
- The Q2 2026 figure marks the highest quarterly Return on Capital Employed [ROCE] since Q3 2010.
- Compared with a year earlier, Return on Capital Employed [ROCE] has increased for ten straight quarters, with an average year-over-year change of +2.57 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q4 2024 (a gain of 4.31 percentage points); the worst was Q2 2022 (a drop of 4.56 percentage points).
- Per Business Quant data, GRMN's Return on Capital Employed [ROCE] in the three quarters before Q2 2026 was 20.58% (Q1 2026), 20.76% (Q4 2025) and 20.50% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 5,095.71 Bn | 4,843.20 Bn | 54.77 Bn | 67.97% |
| 2 | Cisco Systems | 420.76 Bn | 356.69 Bn | 11.06 Bn | 17.86% |
| 3 | Dell Technologies | 294.70 Bn | 250.46 Bn | 9.83 Bn | 38.06% |
| 4 | Arista Networks | 216.89 Bn | 170.35 Bn | 1.91 Bn | 28.65% |
| 5 | Sandisk | 181.88 Bn | 170.41 Bn | 7.58 Bn | 87.19% |
| 6 | Sony | 156.03 Bn | 93.29 Bn | 6.53 Bn | 15.08% |
| 7 | Seagate Technology Holdings | 138.41 Bn | 133.40 Bn | 1.90 Bn | 64.93% |
| 8 | Western Digital | 119.10 Bn | 107.23 Bn | 2.03 Bn | 43.60% |
| 9 | Hewlett Packard Enterprise | 75.83 Bn | 53.71 Bn | 4.93 Bn | 5.09% |
| 10 | Garmin | 56.87 Bn | 46.23 Bn | 1.26 Bn | 23.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 23.26% |
| Mar 28, 2026 | 20.58% |
| Dec 27, 2025 | 20.76% |
| Sep 27, 2025 | 20.50% |
| Jun 28, 2025 | 21.65% |
| Mar 29, 2025 | 19.43% |
| Dec 28, 2024 | 19.97% |
| Sep 28, 2024 | 18.82% |
| Jun 29, 2024 | 17.54% |
| Mar 30, 2024 | 15.91% |
| Dec 30, 2023 | 15.66% |
| Sep 30, 2023 | 15.46% |
| Jul 1, 2023 | 15.56% |
| Apr 1, 2023 | 14.82% |
| Dec 31, 2022 | 15.89% |
| Sep 24, 2022 | 17.14% |
| Jun 25, 2022 | 18.24% |
| Mar 26, 2022 | 18.07% |
| Dec 25, 2021 | 19.45% |
| Sep 25, 2021 | 20.85% |
API Access
Garmin Return on Capital Employed [ROCE] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=GRMN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "ticker": "GRMN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=GRMN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();