GARMIN LTD vs NORTHROP GRUMMAN CORP /DE/, two Aerospace & Defense stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Garmin is the odd one in a defense neighborhood: GPS gadgets, wearables, and aviation electronics, with a net margin of 23.26% that towers over every prime here. It earns 18.73% on equity, carries no debt, and trades at 25.96 times earnings and 4.86 times book, a $45.0B cap. Northrop Grumman is a straight defense prime, funded partly by borrowing at 0.89 debt-to-equity, earning 26.74% on equity and 10.8% on revenue, priced cheaper at 15.67 times earnings. Garmin keeps far more of each sale and owes nothing. Northrop earns more on its equity and costs less per dollar of profit. Different businesses, both well run.
Comparison updated 2026-07-11.
| Metric | GRMN | NOC |
|---|---|---|
| Price | $243.10 | $539.53 |
| Market cap | $47.1B | $76.9B |
| Sector | Aerospace & Defense | Aerospace & Defense |
| Stage | Growth | Mature |
| Implied growth (priced in) | — | +2.9% |
| P/E | 27.1 | 16.9 |
| P/B | 5.08 | 4.49 |
| P/S | 6.30 | 1.81 |
| EV/EBITDA | 22.2 | 14.0 |
| Revenue growth | +15.7% | +4.9% |
| Gross margin | 59.4% | — |
| Operating margin | 24.6% | 10.0% |
| Net margin | 23.3% | 10.8% |
| Return on equity | 18.7% | 26.7% |
| Return on assets | 15.8% | 9.2% |
| Return on invested capital | 18.3% | 13.0% |
| FCF yield | 3.1% | 4.3% |
| Dividend yield | 1.1% | 1.7% |
| Debt / equity | 0.00 | 0.89 |
| Current ratio | 4.36 | 1.15 |
| Altman Z (solvency) | 8.26 | 2.84 |
| Piotroski F (quality) | 7 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.