Garmin Ltd.(GRMN)Earnings, Financials & Key Ratios

GRMN•NYSE

$242.82

$46.83B mkt cap·28.3× P/E·Price updated May 6, 2026

SectorTechnology IndustryTech Hardware & Equipment Sub-IndustrySensors, Controls and Smart Metering

AboutGarmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms; and Connect IQ, an application development platform. The company's Outdoor segment offers adventure watches, outdoor handhelds, golf devices and mobile apps, and dog tracking and training devices. Its Aviation segment designs, manufactures, and markets various aircraft avionics solutions comprising integrated flight decks, electronic flight displays and instrumentation, navigation and communication products, automatic flight control systems and safety-enhancing technologies, audio control systems, engine indication systems, traffic awareness and avoidance solutions, ADS-B and transponder solutions, weather information and avoidance solutions, datalink and connectivity solutions, portable GPS navigators and wearables, and various services products. The company's Marine segment provides chartplotters and multi-function displays, cartography products, fish finders, sonar products, autopilot systems, radars, compliant instrument displays and sensors, VHF communication radios, handhelds and wearable devices, sailing products, entertainment, digital switching products, and trolling motors. Its Auto segment offers embedded computing models and infotainment systems; personal navigation devices; and cameras. The company sells its products through independent retailers, online retailers, dealers, distributors, installation and repair shops, and original equipment manufacturers, as well as an online webshop, garmin.com. Garmin Ltd. was founded in 1989 and is based in Schaffhausen, Switzerland.Show more

Revenue$7.25B+15.1%
EBITDA$2.06B+16.4%
Net Income$1.66B+17.9%
EPS (Diluted)8.59+17.7%
Gross Margin58.74%
EBITDA Margin28.5%+1.2%
Operating Margin25.89%+2.3%
Net Margin22.96%+2.5%
ROE19.78%+4.1%
ROIC22%+4.6%
Debt/Equity0.02-11.4%

Analysis→Technical→

GRMN Key Insights

Garmin Ltd. (GRMN) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 18.8% free cash flow margin
✓Strong 5Y sales CAGR of 11.6%
✓Good 3Y average ROE of 19.4%
✓Healthy 5Y average net margin of 22.4%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

GRMN Price & Volume

Garmin Ltd. (GRMN) stock price & volume — 10-year historical chart

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GRMN Growth Metrics

Garmin Ltd. (GRMN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years9.89%

5 Years11.59%

3 Years14.24%

TTM15.71%

Profit CAGR

10 Years13.81%

5 Years10.89%

3 Years19.56%

TTM18.25%

EPS CAGR

10 Years13.65%

5 Years10.69%

3 Years19.45%

TTM18.03%

Return on Capital

10 Years18.45%

5 Years18.76%

3 Years19.35%

Last Year21.57%

GRMN Recent Earnings

Garmin Ltd. (GRMN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 10/12 qtrs (83%)●Beat Revenue 11/12 qtrs (92%)

Q2 2026Latest

Apr 29, 2026

EPS

$2.08

Est $1.84

+13.0%

Revenue

$1.8B

Est $1.7B

+1.7%

Q1 2026

Feb 18, 2026

EPS

$2.79

Est $2.40

+16.3%

Revenue

$2.1B

Est $2.0B

+5.3%

Q4 2025

Oct 29, 2025

EPS

$1.99

Est $1.99

+0.0%

Revenue

$1.8B

Est $1.8B

-0.6%

Q3 2025

Jul 30, 2025

EPS

$2.17

Est $1.90

+14.2%

Revenue

$1.8B

Est $1.7B

+6.7%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 29, 2026	$2.08vs $1.84+13.0%	$1.8Bvs $1.7B+1.7%
Q1 2026	Feb 18, 2026	$2.79vs $2.40+16.3%	$2.1Bvs $2.0B+5.3%
Q4 2025	Oct 29, 2025	$1.99vs $1.99+0.0%	$1.8Bvs $1.8B-0.6%
Q3 2025	Jul 30, 2025	$2.17vs $1.90+14.2%	$1.8Bvs $1.7B+6.7%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
FOSLFossil Group, Inc.Direct Competitor	260.26M	4.46	-3.08	-12.28%	-7.8%	-70.99%	3.25
SONOSonos, Inc.Direct Competitor	1.78B	14.76	-28.94	-4.93%	-2.82%	-10.43%	0.17
GPROGoPro, Inc.Direct Competitor	214.36M	1.40	-2.37	-18.71%	-14.35%	-102.47%	1.09
POWIPower Integrations, Inc.Direct Competitor	4.36B	78.23	200.59	5.85%	4.98%	3.17%
AAPLApple Inc.Product Competitor	4.22T	287.46	38.53	6.43%	27.15%	146.69%	1.52
FITBFifth Third BancorpProduct Competitor	34.06B	50.84	16.19	5.62%		11.43%	0.97
QCOMQUALCOMM IncorporatedSupply Chain	203.07B	192.66	38.46	13.66%	22.31%	40.19%	0.77
SWKSSkyworks Solutions, Inc.Supply Chain	9.77B	64.97	21.09	-2.18%	8.93%	6.3%	0.21

Compare GRMN vs Peers

Garmin Ltd. (GRMN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FOSL

Most directly comparable listed peer for GRMN.

Scale Benchmark

vs AAPL

Larger-name benchmark to compare GRMN against a more recognizable public peer.

Peer Set

Compare Top 5

vs FOSL, SONO, GPRO, POWI

GRMN Income Statement

Garmin Ltd. (GRMN) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	3.09B	3.35B	3.76B	4.19B	4.98B	4.86B	5.23B	6.3B	7.25B	7.46B
Revenue Growth %	2.26%	8.44%	12.25%	11.42%	19.02%	-2.46%	7.57%	20.44%	15.06%	15.71%
Cost of Goods Sold	1.3B	1.37B	1.52B	1.71B	2.09B	2.05B	2.22B	2.6B	2.99B	3.05B
COGS % of Revenue	42.24%	40.86%	40.55%	40.73%	41.99%	42.25%	42.52%	41.3%	41.26%	-
Gross Profit	1.78B▲ 0%	1.98B▲ 11.0%	2.23B▲ 12.8%	2.48B▲ 11.1%	2.89B▲ 16.5%	2.81B▼ 2.9%	3B▲ 7.1%	3.7B▲ 23.0%	4.26B▲ 15.1%	4.41B▲ 0%
Gross Margin %	57.76%	59.14%	59.45%	59.27%	58.01%	57.75%	57.48%	58.7%	58.74%	59.14%
Gross Profit Growth %	6.17%	11.02%	12.84%	11.07%	16.49%	-2.9%	7.06%	23.02%	15.14%	-
Operating Expenses	1.11B	1.2B	1.29B	1.43B	1.67B	1.78B	1.91B	2.1B	2.38B	2.44B
OpEx % of Revenue	36.1%	35.89%	34.29%	34.09%	33.55%	36.6%	36.59%	33.39%	32.85%	-
Selling, General & Admin	602.67M	633.57M	683.02M	721.41M	831.82M	944M	1.01B	1.11B	1.25B	1.29B
SG&A % of Revenue	19.52%	18.93%	18.18%	17.23%	16.69%	19.42%	19.28%	17.61%	17.31%	-
Research & Development	511.63M	567.8M	605.37M	705.68M	840.02M	834.93M	904.7M	993.6M	1.13B	1.15B
R&D % of Revenue	16.57%	16.96%	16.11%	16.86%	16.86%	17.18%	17.3%	15.78%	15.54%	-
Other Operating Expenses	-912K	5.37M	5.62M	0	4.87M	7.58M	0	0	0	0
Operating Income	668.86M▲ 0%	778.34M▲ 16.4%	945.59M▲ 21.5%	1.05B▲ 11.5%	1.22B▲ 15.6%	1.03B▼ 15.7%	1.09B▲ 6.3%	1.59B▲ 45.9%	1.88B▲ 17.7%	1.97B▲ 0%
Operating Margin %	21.67%	23.25%	25.17%	25.18%	24.46%	21.15%	20.89%	25.31%	25.89%	26.46%
Operating Income Growth %	7.2%	16.37%	21.49%	11.49%	15.59%	-15.65%	6.26%	45.95%	17.7%	-
EBITDA	755.11M	874.54M	1.05B	1.18B	1.37B	1.19B	1.27B	1.77B	2.06B	2.17B
EBITDA Margin %	24.46%	26.13%	27.99%	28.21%	27.56%	24.52%	24.29%	28.17%	28.5%	29.03%
EBITDA Growth %	6.32%	15.82%	20.26%	12.28%	16.3%	-13.23%	6.55%	39.69%	16.41%	19.72%
D&A (Non-Cash Add-back)	86.25M	96.19M	106.17M	126.72M	154.82M	163.85M	177.57M	179.74M	188.76M	191.59M
EBIT	683.64M	778.34M	945.59M	1.05B	1.22B	1.03B	1.09B	1.59B	1.88B	2.07B
Net Interest Income	36.92M	47.15M	52.82M	37M	28.57M	40.83M	77.3M	113.52M	128.87M	134.34M
Interest Income	36.92M	47.15M	52.82M	37M	28.57M	40.83M	77.3M	113.52M	128.87M	134.34M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	13.43M	44.9M	41.64M	49.17M	-11.82M	37.13M	108.2M	101.41M	138.46M	123.07M
Pretax Income	682.29M▲ 0%	823.25M▲ 20.7%	987.22M▲ 19.9%	1.1B▲ 11.8%	1.21B▲ 9.4%	1.06B▼ 11.8%	1.2B▲ 12.7%	1.7B▲ 41.2%	2.01B▲ 18.8%	2.1B▲ 0%
Pretax Margin %	22.1%	24.59%	26.27%	26.36%	24.22%	21.91%	22.96%	26.92%	27.8%	28.11%
Income Tax	-12.66M	129.17M	34.74M	111.09M	124.6M	91.39M	-89.28M	283.96M	350.65M	361.79M
Effective Tax Rate %	-1.86%	15.69%	3.52%	10.07%	10.32%	8.58%	-7.44%	16.75%	17.41%	17.24%
Net Income	694.96M▲ 0%	694.08M▼ 0.1%	952.49M▲ 37.2%	992.32M▲ 4.2%	1.08B▲ 9.1%	973.59M▼ 10.0%	1.29B▲ 32.5%	1.41B▲ 9.4%	1.66B▲ 17.9%	1.74B▲ 0%
Net Margin %	22.51%	20.73%	25.35%	23.7%	21.72%	20.03%	24.67%	22.41%	22.96%	23.26%
Net Income Growth %	36.05%	-0.13%	37.23%	4.18%	9.06%	-10.04%	32.46%	9.44%	17.89%	18.25%
Net Income (Continuing)	709.01M	694.08M	952.49M	992.32M	1.08B	973.59M	1.29B	1.41B	1.66B	1.74B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	3.68▲ 0%	3.66▼ 0.5%	4.99▲ 36.3%	5.17▲ 3.6%	5.61▲ 8.5%	5.04▼ 10.2%	6.71▲ 33.1%	7.30▲ 8.8%	8.59▲ 17.7%	8.97▲ 0%
EPS Growth %	36.3%	-0.54%	36.34%	3.61%	8.51%	-10.16%	33.13%	8.79%	17.67%	18.03%
EPS (Basic)	3.70	3.68	5.01	5.19	5.63	5.06	6.74	7.35	8.65	-
Diluted Shares Outstanding	188.73M	189.73M	190.9M	191.9M	193.04M	193.04M	192.06M	193.47M	193.62M	193.56M
Basic Shares Outstanding	187.83M	188.63M	189.93M	191.09M	192.18M	192.54M	191.4M	192.14M	192.47M	192.67M
Dividend Payout Ratio	55.11%	42.67%	43.81%	45.41%	45.41%	69.75%	43.33%	40.55%	39.9%	-

GRMN Balance Sheet

Garmin Ltd. (GRMN) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	2.36B	2.67B	3.06B	3.67B	4.26B	3.96B	4.46B	5.34B	6.25B	6B
Cash & Short-Term Investments	1.05B	1.38B	1.4B	1.85B	1.85B	1.45B	1.97B	2.5B	2.74B	2.7B
Cash Only	891.49M	1.2B	1.03B	1.46B	1.5B	1.28B	1.69B	2.08B	2.28B	2.29B
Short-Term Investments	161.69M	182.99M	376.46M	387.64M	347.98M	173.29M	274.62M	421.27M	459.2M	411.03M
Accounts Receivable	590.88M	569.83M	706.76M	849.47M	843.45M	656.85M	815.24M	983.4M	1.25B	940.96M
Days Sales Outstanding	69.86	62.13	68.65	74.06	61.78	49.33	56.91	57	63.12	50.86
Inventory	517.64M	561.84M	752.91M	762.08M	1.23B	1.52B	1.35B	1.47B	1.77B	1.85B
Days Inventory Outstanding	144.91	149.94	180.38	163.12	214.15	269.29	220.97	206.9	216.4	218.37
Other Current Assets	30.52M	28.46M	25.11M	20.14M	15.96M	14.86M	334.87M	378.03M	485.1M	15.32M
Total Non-Current Assets	2.65B	2.72B	3.11B	3.36B	3.59B	3.78B	4.14B	4.29B	4.75B	4.96B
Property, Plant & Equipment	595.68M	663.53M	792.51M	950.16M	1.16B	1.29B	1.37B	1.4B	1.57B	1.59B
Fixed Asset Turnover	5.18x	5.04x	4.74x	4.41x	4.31x	3.78x	3.82x	4.49x	4.61x	4.88x
Goodwill	286.98M	301.02M	467.11M	584.21M	575.08M	567.99M	608.47M	603.95M	760.24M	750.63M
Intangible Assets	122.82M	116.06M	192.52M	244.36M	215.99M	178.46M	186.6M	154.16M	198.36M	186.87M
Long-Term Investments	1.26B	1.33B	1.21B	1.13B	1.27B	1.21B	1.13B	1.2B	0	4.28B
Other Non-Current Assets	181.47M	129.8M	182.82M	206.66M	115.74M	95.09M	96.71M	113.87M	1.5B	1.81B
Total Assets	5.01B▲ 0%	5.38B▲ 7.4%	6.17B▲ 14.6%	7.03B▲ 14.0%	7.85B▲ 11.7%	7.73B▼ 1.6%	8.6B▲ 11.3%	9.63B▲ 11.9%	10.99B▲ 14.2%	10.95B▲ 0%
Asset Turnover	0.62x	0.62x	0.61x	0.60x	0.63x	0.63x	0.61x	0.65x	0.66x	0.70x
Asset Growth %	10.72%	7.44%	14.56%	14.02%	11.71%	-1.57%	11.28%	11.94%	14.15%	54.85%
Total Current Liabilities	828.66M	921.31M	1.04B	1.16B	1.45B	1.21B	1.31B	1.51B	1.72B	1.38B
Accounts Payable	169.64M	204.99M	240.83M	258.88M	370.05M	212.42M	253.79M	359.37M	347.49M	344.72M
Days Payables Outstanding	47.49	54.7	57.7	55.41	64.55	37.76	41.66	50.44	42.43	43.91
Short-Term Debt	0	0	0	0	0	0	0	27.9M	0	0
Deferred Revenue (Current)	139.68M	96.37M	94.56M	86.86M	87.65M	91.09M	101.19M	111M	105.65M	419.92M
Other Current Liabilities	416.53M	506.87M	572.11M	636.53M	779.08M	732.01M	330.01M	504.13M	1.27B	402.89M
Current Ratio	2.85x	2.89x	2.95x	3.15x	2.94x	3.26x	3.41x	3.54x	3.63x	3.63x
Quick Ratio	2.23x	2.28x	2.22x	2.50x	2.10x	2.01x	2.38x	2.56x	2.60x	2.60x
Cash Conversion Cycle	167.29	157.37	191.34	181.77	211.38	280.86	236.22	213.46	237.09	225.32
Total Non-Current Liabilities	379.14M	298.57M	337.37M	351.04M	292.12M	315.19M	280.82M	274.27M	301.03M	305.6M
Long-Term Debt	0	0	0	0	0	0	0	0	164.84M	0
Capital Lease Obligations	0	0	49.24M	75.96M	70.04M	114.54M	113.03M	134.89M	0	316.22M
Deferred Tax Liabilities	75.22M	92.94M	114.75M	116.84M	117.59M	129.97M	114.68M	103.27M	109.7M	419.68M
Other Non-Current Liabilities	379.14M	129.06M	106.05M	108.3M	62.86M	34.99M	16.96M	7.79M	26.5M	62.29M
Total Liabilities	1.21B	1.22B	1.37B	1.52B	1.74B	1.53B	1.59B	1.78B	2.02B	1.68B
Total Debt	0	0	49.24M	75.96M	70.04M	114.54M	113.03M	162.79M	164.84M	167.62M
Net Debt	-891.49M	-1.2B	-978.33M	-1.38B	-1.43B	-1.16B	-1.58B	-1.92B	-2.11B	-2.12B
Debt / Equity	-	-	0.01x	0.01x	0.01x	0.02x	0.02x	0.02x	0.02x	0.02x
Debt / EBITDA	-	-	0.05x	0.06x	0.05x	0.10x	0.09x	0.09x	0.08x	0.08x
Net Debt / EBITDA	-1.18x	-1.37x	-0.93x	-1.17x	-1.04x	-0.98x	-1.24x	-1.08x	-1.02x	-1.02x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity	3.8B▲ 0%	4.16B▲ 9.5%	4.79B▲ 15.1%	5.52B▲ 15.1%	6.11B▲ 10.8%	6.2B▲ 1.5%	7.01B▲ 13.0%	7.85B▲ 11.9%	8.97B▲ 14.3%	9.27B▲ 0%
Equity Growth %	11.25%	9.48%	15.15%	15.07%	10.84%	1.47%	13.02%	11.93%	14.32%	56.6%
Book Value per Share	20.15	21.94	25.11	28.75	31.67	32.14	36.51	40.57	46.34	47.90
Total Shareholders' Equity	3.8B	4.16B	4.79B	5.52B	6.11B	6.2B	7.01B	7.85B	8.97B	9.27B
Common Stock	17.98M	17.98M	17.98M	17.98M	17.98M	17.98M	19.59M	19.49M	19.49M	19.49M
Retained Earnings	2.37B	2.71B	3.23B	3.75B	4.32B	4.73B	5.26B	6B	6.97B	7.37B
Treasury Stock	-468.82M	-397.69M	-345.04M	-320.02M	-303.11M	-475.1M	-330.91M	-270.52M	0	-415.6M
Accumulated OCI	56.05M	8.43M	55.87M	183.43M	117.83M	-114.53M	-65.61M	-147.24M	20.64M	-42.96M
Minority Interest	0	0	0	0	0	0	0	0	0	0

GRMN Cash Flow Statement

Garmin Ltd. (GRMN) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	660.84M	919.52M	698.55M	1.14B	1.01B	788.26M	1.38B	1.43B	1.63B	1.63B
Operating CF Margin %	21.41%	27.47%	18.59%	27.12%	20.32%	16.22%	26.32%	22.75%	22.54%	-
Operating CF Growth %	-6.35%	39.14%	-24.03%	62.52%	-10.82%	-22.14%	74.6%	4.08%	14.02%	97.9%
Net Income	694.96M	694.08M	952.49M	992.32M	1.08B	973.59M	1.29B	1.41B	1.66B	1.74B
Depreciation & Amortization	86.25M	96.19M	106.17M	126.72M	154.82M	163.85M	177.57M	179.74M	188.76M	174.16M
Stock-Based Compensation	44.73M	56.39M	63.4M	80.89M	92.52M	76.8M	101.42M	137.16M	0	130.55M
Deferred Taxes	-90.72M	38.98M	-88.36M	6.93M	-5.37M	-143.29M	-340.77M	-88.14M	82.55M	97.44M
Other Non-Cash Items	53.89M	40.84M	17.63M	-13.06M	36.06M	-6.96M	-25.26M	21.99M	131.61M	-30.81M
Working Capital Changes	-128.26M	-6.96M	-352.79M	-58.52M	-347.81M	-275.73M	173.67M	-229.72M	-433.45M	-358.98M
Change in Receivables	-40.09M	5.17M	-123.4M	-108.86M	-19.11M	167.34M	-129.12M	-196.26M	-222.81M	-134.11M
Change in Inventory	-38.58M	-82.32M	-170.17M	28.73M	-476.45M	-363.33M	244.51M	-178.81M	-218.06M	-210.89M
Change in Payables	-17.24M	40.63M	26.19M	1.45M	108.95M	-131.27M	28.5M	120.64M	-30.52M	-14.48M
Cash from Investing	-194.54M	-307.5M	-450.75M	-260.52M	-475.37M	-145.12M	-332.97M	-393.33M	-645.24M	-765M
Capital Expenditures	-151.93M	-160.35M	-120.41M	-187.47M	-309.59M	-246.19M	-193.52M	-193.57M	-270.45M	-297M
CapEx % of Revenue	4.92%	4.79%	3.2%	4.48%	6.21%	5.07%	3.7%	3.07%	3.73%	-
Acquisitions	-90.47M	-29.17M	-300.29M	-148.65M	-20.18M	-13.46M	-150.85M	-16.44M	-175.66M	-173.68M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	208K	1.6M	529K	1.98M	35K	2.4M	-1.29M	324.2M	322K	217.22M
Cash from Financing	-448.41M	-286.16M	-416.03M	-461.76M	-486.71M	-840.62M	-636.51M	-626.86M	-844.08M	-899.33M
Debt Issued (Net)	0	0	0	0	0	0	0	0	0	0
Equity Issued (Net)	-74.52M	9.99M	-25.89M	-26.33M	4.75M	-161.52M	-98.99M	-62.35M	-180.2M	-206.37M
Dividends Paid	-382.98M	-296.15M	-417.26M	-450.63M	-491.46M	-679.1M	-558.77M	-572.36M	-663.88M	-692.96M
Share Repurchases	-87.3M	-16.66M	-25.89M	-26.33M	-30.98M	-223.74M	-98.99M	-62.35M	-238.21M	-264.38M
Other Financing	9.09M	0	27.12M	15.2M	0	0	21.25M	7.85M	0	0
Net Change in Cash	44.6M▲ 0%	310.05M▲ 595.1%	-174.17M▼ 156.2%	431.11M▲ 347.5%	40.09M▼ 90.7%	-218.93M▼ 646.0%	414.24M▲ 289.2%	386M▼ 6.8%	199.21M▼ 48.4%	114.42M▲ 0%
Free Cash Flow	508.91M▲ 0%	759.16M▲ 49.2%	578.14M▼ 23.8%	947.8M▲ 63.9%	702.84M▼ 25.8%	542.07M▼ 22.9%	1.18B▲ 117.9%	1.24B▲ 4.9%	1.36B▲ 10.0%	1.45B▲ 0%
FCF Margin %	16.49%	22.68%	15.39%	22.64%	14.11%	11.15%	22.59%	19.67%	18.81%	19.45%
FCF Growth %	-16.44%	49.17%	-23.85%	63.94%	-25.85%	-22.87%	117.91%	4.88%	10.01%	19.23%
FCF per Share	2.70	4.00	3.03	4.94	3.64	2.81	6.15	6.40	7.04	7.04
FCF Conversion (FCF/Net Income)	0.95x	1.32x	0.73x	1.14x	0.94x	0.81x	1.07x	1.01x	0.98x	0.84x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	106.15M	67.59M	160.29M	133.06M	131.04M	184.81M	302.15M	333.8M	0	0

GRMN Key Ratios

Garmin Ltd. (GRMN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	19.25%	17.43%	21.27%	19.25%	18.61%	15.81%	19.52%	19%	19.78%	19.93%
Return on Invested Capital (ROIC)	18.3%	19.88%	20.93%	19.89%	20.73%	15.85%	15.65%	21.04%	22%	22%
Gross Margin	57.76%	59.14%	59.45%	59.27%	58.01%	57.75%	57.48%	58.7%	58.74%	59.14%
Net Margin	22.51%	20.73%	25.35%	23.7%	21.72%	20.03%	24.67%	22.41%	22.96%	23.26%
Debt / Equity	-	-	0.01x	0.01x	0.01x	0.02x	0.02x	0.02x	0.02x	0.02x
FCF Conversion	0.95x	1.32x	0.73x	1.14x	0.94x	0.81x	1.07x	1.01x	0.98x	0.84x
Revenue Growth	2.26%	8.44%	12.25%	11.42%	19.02%	-2.46%	7.57%	20.44%	15.06%	15.71%

GRMN SEC Filings & Documents

Garmin Ltd. (GRMN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 29, 2026·SEC

Material company update

Feb 18, 2026·SEC

Material company update

Oct 29, 2025·SEC

10-K Annual Reports

FY 2026

Feb 18, 2026·SEC

FY 2025

Feb 19, 2025·SEC

10-Q Quarterly Reports

FY 2026

Apr 29, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 30, 2025·SEC

GRMN Frequently Asked Questions

Garmin Ltd. (GRMN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Garmin Ltd. (GRMN) reported $7.46B in revenue for fiscal year 2025. This represents a 3109% increase from $232.6M in 1999.

Garmin Ltd. (GRMN) grew revenue by 15.1% over the past year. This is strong growth.

Yes, Garmin Ltd. (GRMN) is profitable, generating $1.74B in net income for fiscal year 2025 (23.0% net margin).

Dividend & Returns

Yes, Garmin Ltd. (GRMN) pays a dividend with a yield of 1.41%. This makes it attractive for income-focused investors.

Garmin Ltd. (GRMN) has a return on equity (ROE) of 19.8%. This is reasonable for most industries.

Garmin Ltd. (GRMN) generated $1.45B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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