Garmin GRMN · USD
Consumer Discretionary · Household Durables · US listing · 🇺🇸 United States
S&P 500
291.80
+2.18%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$7.25bn
FY2016FY2025
Net income
$1.66bn
FY2016FY2025
Free cash flow
$1.36bn
FY2016FY2025
Shareholders' equity
$8.97bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.25bn | $6.30bn | $5.23bn | $4.86bn | $4.98bn | $4.19bn | $3.76bn | $3.35bn | $3.09bn | $3.02bn |
| Gross profit | $4.26bn | $3.70bn | $3.00bn | $2.81bn | $2.89bn | $2.48bn | $2.23bn | $1.98bn | $1.78bn | $1.68bn |
| Research and development | $1.13bn | $993.6m | $904.7m | $834.9m | $840.0m | $705.7m | $605.4m | $567.8m | $511.6m | $468.0m |
| Operating income | $1.88bn | $1.59bn | $1.09bn | $1.03bn | $1.22bn | $1.05bn | $945.6m | $778.3m | $668.9m | $623.9m |
| Net income | $1.66bn | $1.41bn | $1.29bn | $973.6m | $1.08bn | $992.3m | $952.5m | $694.1m | $695.0m | $510.8m |
| Diluted earnings per share | 8.59 | 7.28 | 6.70 | 5.07 | 5.60 | 5.16 | 4.98 | 3.65 | 3.68 | 2.70 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $10.99bn | $9.63bn | $8.60bn | $7.73bn | $7.85bn | $7.03bn | $6.17bn | $5.38bn | $5.01bn | $4.53bn |
| Cash and short-term investments | $2.74bn | $2.50bn | $1.97bn | $1.45bn | $1.85bn | $1.85bn | $1.40bn | $1.38bn | $1.05bn | $1.11bn |
| Total liabilities | $2.02bn | $1.78bn | $1.59bn | $1.53bn | $1.74bn | $1.52bn | $1.37bn | $1.22bn | $1.21bn | $1.11bn |
| Debt | $31.2m | $27.9m | $225.5m | — | $20.5m | $18.9m | $14.8m | — | — | — |
| Shareholders' equity | $8.97bn | $7.85bn | $7.01bn | $6.20bn | $6.11bn | $5.52bn | $4.79bn | $4.16bn | $3.80bn | $3.42bn |
| Shares outstanding | 194m | 194m | 193m | 192m | 193m | 192m | 191m | 190m | 189m | 189m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $1.63bn | $1.43bn | $1.38bn | $788.3m | $1.01bn | $1.14bn | $698.5m | $919.5m | $660.8m | $705.7m |
| Capital spending | −$270.4m | −$193.6m | −$195.0m | −$246.2m | −$309.6m | −$187.5m | −$120.4m | −$160.4m | −$151.9m | −$96.7m |
| Free cash flow | $1.36bn | $1.24bn | $1.18bn | $542.1m | $702.8m | $947.8m | $578.1m | $759.2m | $508.9m | $609.0m |
| Dividends paid | −$663.9m | −$572.4m | −$558.8m | −$679.1m | −$491.5m | −$450.6m | −$417.3m | −$296.1m | −$383.0m | −$481.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.02bn | $1.75bn | $2.12bn | $1.77bn | $1.81bn | $1.54bn | $1.82bn | $1.59bn |
| Gross profit | $1.26bn | $1.04bn | $1.26bn | $1.05bn | $1.07bn | $884.5m | $1.08bn | $951.6m |
| Operating income | $615.5m | $431.7m | $614.2m | $456.8m | $472.3m | $332.8m | $516.1m | $437.5m |
| Net income | $541.9m | $405.1m | $528.7m | $401.6m | $400.8m | $332.8m | $435.7m | $399.1m |
| Diluted earnings per share | 2.80 | 2.09 | 2.73 | 2.08 | 2.07 | 1.72 | 2.24 | 2.07 |
| Cash from operations | $337.0m | $535.0m | $553.0m | $485.0m | $173.0m | $420.0m | $483.0m | $257.0m |
| Capital spending | −$127.0m | −$66.0m | −$124.0m | −$60.0m | −$45.0m | −$40.0m | −$84.0m | −$38.0m |
| Free cash flow | $210.0m | $469.0m | $429.0m | $425.0m | $128.0m | $380.0m | $399.0m | $219.0m |
| Total assets | $11.42bn | $10.95bn | $10.99bn | $10.52bn | $10.32bn | $9.79bn | $9.63bn | $9.35bn |
| Cash and short-term investments | $2.67bn | $2.70bn | $2.74bn | $2.54bn | $2.59bn | $2.67bn | $2.50bn | $2.42bn |
| Debt | — | — | $31.2m | — | — | — | — | — |
| Shareholders' equity | $9.03bn | $9.27bn | $8.97bn | $8.48bn | $8.13bn | $8.18bn | $7.85bn | $7.51bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.2% | 11.6% | 9.9% |
| Operating income | 22.2% | 12.2% | 13.1% |
| Net income | 19.6% | 10.9% | 13.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 58.7% | 58.2% | 58.3% | 58.1% |
| Operating margin | 25.6% | 23.7% | 24.0% | 23.4% |
| Net margin | 22.7% | 22.6% | 22.6% | 22.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.6 | 28.3 | 19.2 | 18.2 | 24.3 | 23.2 | 19.6 | 17.4 | 16.2 | 18.0 |
| Price to sales | 5.4 | 6.3 | 4.7 | 3.6 | 5.3 | 5.5 | 5.0 | 3.6 | 3.6 | 3.0 |
Market value over time
31 Oct 2016 to 18 Sept 2026, in USD
$9.14bn$53.02bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -2% | 62% | 41% | -30% | 9% | 20% | 59% | 6% | 18% | 35% |
Dividends and splits
Per share, in the currency the company pays
Paid for 23 years. Last went ex-dividend on 11 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.10 | 3.60 | 3.00 | 2.92 | 2.92 | 2.68 | 2.44 | 2.28 |
- 2-for-1 split · 16 Aug 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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