Flagship explainer

What drives GARMIN LTD’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity20%Tax burden83%net income ÷ pretax incomeInterest burden107%pretax ÷ operating incomeOperating margin26%operating income ÷ revenueAsset turnover0.70×revenue ÷ average assetsEquity multiplier1.23×average assets ÷ average equityAs of 2025-12-27 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$1.7BFY2025
Income before tax$2.0BFY2025
Operating income$1.9BFY2025
$7.2BFY2025
Ending assets$11.0BFY2025
Beginning assets$9.6BFY2024
$9.0BFY2025
$7.8BFY2024
Source: · event Dec 27, 2025 · retrieved Oct 15, 2026 · annual-row source set
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