How much of Garmin Ltd’s revenue comes from haram?
Garmin Ltd. earns its revenue from the following segments:
- Fitness
Includes the sale of their GPS wearables including smartwatches and GPS running and cycling products.
- Outdoor
Includes the sale of GPS-capable devices designed for outdoor uses, such as their “Adventure watches” line with many outdoor-inspired features and detailed map data.
- Marine
Includes numerous devices used for marine navigation, underwater discovery, and fishing.
- Aviation
Includes the sale of GPS products in general aviation, business aviation, rotorcraft, and experimental/light-sport markets. These include instruments used for navigation, autopilot, and communication systems.
- Auto
Includes OEM (Original equipment manufacturer) solutions by working directly with auto manufacturers. Alongside OEMs, they also sell consumer auto products such as Personal Navigation Devices and Dash Cameras.
Practical Islamic Finance concludes:
None of Garmin Ltd’s revenue comes from anything inherently haram.
Does Garmin Ltd. rely on interest to operate?
|
Most Recent Quarter ended 3/26/2022 |
Fiscal year ended 12/25/2021 |
Fiscal year ended 12/26/2020 |
|
|---|---|---|---|
| Interest Expense | $ | $ | $ |
| Total Operating Expenses | $944,106 | $3,764,175 | $3,132,333 |
| Interest Expense / Total Operating Expenses |
0.00% | 0.00% | 0.00% |
Practical Islamic Finance concludes:
Garmin Ltd. most recent quarter indicates no reliance on Riba in its operations.
What is Garmin Ltd’s Environmental, Social, and Governance (ESG) impact?
Environment
No notable environmental highlights.
Social
Garmin Ltd. has a Glassdoor rating of 4.1 out of 5.0 from over 1,000 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.
Governance
No notable governance highlights.
Practical Islamic Finance concludes:
Garmin has a net positive ESG impact.
Comfort Rating
From Garmin Ltd’s business, financial, and ESG reviews, Practical Islamic Finance rates Garmin Ltd stock as:
Garmin is involved in Aviation and Marine system which is used in arm forces, weapons, firefighters,……. etc. Alot of these are millitary related uses. I personally stay away from any business that is involved in any way in millitray realted devices, ….. etc. I do not want to be in any way responsible for any blood shed in the world.
What is your comment?
Salam, can you please provide some sources referencing Garmin being involved in recent deals with defense contractors?
WASWAWB
I do not have access to any contract however from simple search it is very clearly that Garmin is involved directly in manufacturing avionics for milliatary crafts there are few links whihc indicate this. We would apprciate if your team dig deeper in this issue and comments.
https://www.garmin.com/en-US/c/aviation/flight-decks-displays/
https://www.garmin.com/en-US/blog/aviation/garmin-integrated-flight-deck-selected-for-supersonic-fighter-aircraft/
https://www.flyingmag.com/garmins-g3000-flies-in-tactical-fighter/