Garmin Ltd. (GRMN) quarterly income statement — complete revenue, gross profit & net income history
| Sales/Revenue | 1.75B | 2.12B | 1.77B | 1.81B | 1.54B | 1.82B | 1.59B | 1.51B | 1.38B | 1.48B | 1.28B | 1.32B |
| Revenue Growth % | 14.23% | 16.59% | 11.66% | 20.44% | 11.11% | 22.94% | 24.15% | 14.07% | 20.41% | 13.48% | 12.02% | 6.44% |
| Cost of Goods Sold | 711.2M | 866.7M | 724.41M | 747.55M | 650.55M | 742.64M | 634.42M | 643.78M | 579.51M | 618.35M | 548.96M | 561.35M |
| COGS % of Revenue | 40.56% | 40.79% | 40.91% | 41.2% | 42.38% | 40.75% | 40% | 42.73% | 41.94% | 41.71% | 42.97% | 42.5% |
| Gross Profit | 1.04B | 1.26B | 1.05B | 1.07B | 884.54M | 1.08B | 951.6M | 862.89M | 802.14M | 864.15M | 728.57M | 759.44M |
| Gross Margin % | 59.44% | 59.21% | 59.09% | 58.8% | 57.62% | 59.25% | 60% | 57.27% | 58.06% | 58.29% | 57.03% | 57.5% |
| Gross Profit Growth % | 17.83% | 16.51% | 9.97% | 23.66% | 10.27% | 24.97% | 30.61% | 13.62% | 22.88% | 16% | 8.66% | 4.2% |
| Operating Expenses | 610.62M | 644.11M | 589.68M | 594.72M | 551.72M | 563.84M | 514.12M | 520.86M | 503.73M | 523.7M | 458.2M | 475.09M |
| OpEx % of Revenue | 34.82% | 30.31% | 33.3% | 32.77% | 35.94% | 30.94% | 32.42% | 34.57% | 36.46% | 35.33% | 35.87% | 35.97% |
| Selling, General & Admin | 314.81M | 349.12M | 303.22M | 318.05M | 283.6M | 305.09M | 264.96M | 277.71M | 261.19M | 286.45M | 236.63M | 250.69M |
| SG&A % of Revenue | 17.95% | 16.43% | 17.12% | 17.53% | 18.47% | 16.74% | 16.71% | 18.43% | 18.9% | 19.32% | 18.52% | 18.98% |
| Research & Development | 295.82M | 294.98M | 286.46M | 276.66M | 268.12M | 258.75M | 249.16M | 243.15M | 242.53M | 237.25M | 221.57M | 224.39M |
| R&D % of Revenue | 16.87% | 13.88% | 16.18% | 15.25% | 17.47% | 14.2% | 15.71% | 16.14% | 17.55% | 16% | 17.34% | 16.99% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -513K | 1000K | 254K | 938K | 1000K |
| Operating Income | 431.67M | 614.15M | 456.8M | 472.3M | 332.82M | 516.08M | 437.48M | 342.03M | 298.41M | 340.45M | 270.37M | 284.36M |
| Operating Margin % | 24.62% | 28.9% | 25.79% | 26.03% | 21.68% | 28.32% | 27.58% | 22.7% | 21.6% | 22.96% | 21.16% | 21.53% |
| Operating Income Growth % | 29.7% | 19% | 4.42% | 38.09% | 11.53% | 51.59% | 61.81% | 20.28% | 51.49% | 27.43% | 12.95% | -2.86% |
| EBITDA | 480.79M | 660.41M | 505.91M | 519.4M | 379.12M | 562.62M | 481.73M | 386.14M | 343.24M | 385.79M | 315M | 328.54M |
| EBITDA Margin % | 27.42% | 31.08% | 28.57% | 28.62% | 24.7% | 30.87% | 30.37% | 25.63% | 24.84% | 26.02% | 24.66% | 24.87% |
| EBITDA Growth % | 26.82% | 17.38% | 5.02% | 34.51% | 10.46% | 45.84% | 52.93% | 17.53% | 42.78% | 24.98% | 12.96% | -1.75% |
| D&A (Non-Cash Add-back) | 49.13M | 46.25M | 49.1M | 47.1M | 46.3M | 46.54M | 44.26M | 44.11M | 44.83M | 45.34M | 44.63M | 44.19M |
| EBIT | 472.53M | 614.15M | 509.82M | 472.3M | 332.82M | 516.08M | 437.48M | 342.03M | 298.41M | 340.45M | 270.37M | 284.36M |
| Net Interest Income | 35.97M | 34.56M | 32.09M | 31.72M | 30.51M | 30.38M | 28.83M | 29.29M | 25.03M | 22.84M | 19.8M | 18.76M |
| Interest Income | 35.97M | 34.56M | 32.09M | 31.72M | 30.51M | 30.38M | 28.83M | 29.29M | 25.03M | 22.84M | 19.8M | 18.76M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 40.86M | 21.23M | 53.02M | 7.96M | 56.25M | 57K | 48.77M | 23.95M | 28.63M | 42.58M | 9.2M | 31.62M |
| Pretax Income | 472.53M | 635.39M | 509.82M | 480.25M | 389.08M | 516.14M | 486.25M | 365.97M | 327.04M | 383.04M | 279.57M | 315.98M |
| Pretax Margin % | 26.95% | 29.9% | 28.79% | 26.47% | 25.35% | 28.32% | 30.66% | 24.29% | 23.67% | 25.84% | 21.88% | 23.92% |
| Income Tax | 67.45M | 106.7M | 108.2M | 79.43M | 56.31M | 80.41M | 87.14M | 65.34M | 51.08M | -159.09M | 22.33M | 28.04M |
| Effective Tax Rate % | 14.27% | 16.79% | 21.22% | 16.54% | 14.47% | 15.58% | 17.92% | 17.85% | 15.62% | -41.53% | 7.99% | 8.87% |
| Net Income | 405.08M | 528.68M | 401.62M | 400.82M | 332.77M | 435.73M | 399.11M | 300.63M | 275.96M | 542.13M | 257.24M | 287.94M |
| Net Margin % | 23.1% | 24.88% | 22.68% | 22.09% | 21.68% | 23.91% | 25.16% | 19.95% | 19.97% | 36.57% | 20.14% | 21.8% |
| Net Income Growth % | 21.73% | 21.33% | 0.63% | 33.33% | 20.59% | -19.63% | 55.15% | 4.41% | 36.39% | 84.85% | 22% | 11.66% |
| Net Income (Continuing) | 405.08M | 528.68M | 401.62M | 400.82M | 332.77M | 435.73M | 399.11M | 300.63M | 275.96M | 542.13M | 257.24M | 287.94M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.09 | 2.73 | 2.08 | 2.07 | 1.72 | 2.25 | 2.07 | 1.56 | 1.43 | 2.82 | 1.34 | 1.50 |
| EPS Growth % | 21.51% | 21.33% | 0.48% | 32.69% | 20.28% | -20.21% | 54.48% | 4% | 36.19% | 84.31% | 22.94% | 12.78% |
| EPS (Basic) | 2.10 | 2.75 | 2.09 | 2.08 | 1.73 | 2.27 | 2.08 | 1.57 | 1.44 | 2.83 | 1.34 | 1.51 |
| Diluted Shares Outstanding | 193.56M | 193.78M | 193.53M | 193.42M | 193.72M | 193.76M | 193.17M | 192.9M | 192.7M | 192.56M | 191.87M | 191.6M |
| Basic Shares Outstanding | 192.67M | 192.34M | 192.46M | 192.52M | 192.54M | 192.07M | 192.2M | 192.07M | 191.89M | 191.36M | 191.44M | 191.29M |
| Dividend Payout Ratio | 42.87% | 32.72% | 43.12% | 43.21% | 43.44% | 33.04% | 36.11% | 47.91% | 50.81% | 25.75% | 54.32% | 48.48% |