Garmin Ltd

GRMN

Compliant
Exchange
Sector
Headquarters
Group
NYSE
Technology
Switzerland
Large Cap

Garmin Ltd is Shariah Compliant. It passes 5/5 Shariah standards we screen against.

1.6%

Impure Income*

$0.174

Purification*

$0.981

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Total Analysts
Revenue Growth
Large Cap
HOLD
$248.19
9
16.59%
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
25.89%
22.96%
2.60
3.63
9.63%

Shariah Compliance

  • Updated on June 4, 2026
Debt
✓
Non-Compliant Assets
3.94%
✓
Impure Income
1.6%
✓

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
✓
Impure Income
1.6%
✓

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
✓
Impure Income
1.6%
✓

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
✓
Cash
20.73%
✓
Cash & AR
32.3%
✓
Impure Income
1.6%
✓

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
✓
Cash
20.73%
✓
Cash & AR
32.3%
✓
Impure Income
1.6%
✓

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
1.6%

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Garmin Ltd. (Garmin) is a Switzerland-based entity. The Company and its subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments: fitness, outdoor, aviation, marine and auto. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices. Garmin offers various products designed for use in fitness and activity tracking. Company’s aviation business segment is a provider of solutions to aircraft manufacturers, existing aircraft owners and operators, as well as military and government customers and serves a range of aircraft, including transport aircraft, business aviation, general aviation, experimental/light sport, helicopters, optionally piloted vehicles, and unmanned aerial vehicles. Company operates worldwide.