GRMN on NYSE

Garmin Ltd.

Parent company of the Garmin group.1

Price unavailable

Last updated Oct 16, 2026.

Overview

Feb 9, 2010Founded1

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  • TickerGRMN on NYSE1
  • IndustrySearch, Detection, Navigation, Guidance, Aeronautical Sys1
  • HeadquartersSchaffhausen1
  • Websitewww.garmin.com/de-CH
  • Legal formAktiengesellschaft1
  • Incorporated inSwitzerland3
  • Business addressMuhlentalstrasse 36/38, Schaffhausen, 82003
  • Filer categoryLarge accelerated filer3

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

58.7%Gross margin4
25.9%Operating margin4
23.0%Net margin4
15.1%Revenue growth, 20254
18.5%Return on equity4
$1.4BFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Fitness brought in 33% of the revenue Garmin Ltd. broke down this way in fiscal 2025.

  1. Fitness$2.4B433%up 33% from 2024
  2. Outdoor$2.1B428%up 5% from 2024
  3. Marine$1.2B416%up 10% from 2024
  4. Aviation$987.2M414%up 13% from 2024
  5. Auto OEM$664.7M49%up 9% from 2024
Business segments by year
Business segments202320242025
Fitness$1.3B$1.8B$2.4B
Outdoor$1.7B$2.0B$2.1B
Marine$916.9M$1.1B$1.2B
Aviation$846.3M$876.6M$987.2M
Auto OEM$423.2M$610.6M$664.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue40¢$3.0B
  • Research and development15¢$1.1B
  • Selling, general and admin17¢$1.3B
  • Income tax5¢$350.6M
  • Profit23¢$1.7B

Out of $7.2B in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Capital spending17¢$270.4M
  • Dividends paid41¢$663.9M
  • Kept or used elsewhere43¢$699.0M

Out of $1.6B of cash from operations.4

Financial statements

Revenue56784$7.2B in 2025+93% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $3.8B$3.8B20192020: $4.2B$4.2B2020+11%2021: $5.0B$5.0B2021+19%2022: $4.9B$4.9B2022−2%2023: $5.2B$5.2B2023+8%2024: $6.3B$6.3B2024+20%2025: $7.2B$7.2B2025+15%
Gross profit56784$4.3B in 2025+91% since 2019
0$2.0B$4.0B$6.0B2019: $2.2B$2.2B20192020: $2.5B$2.5B2020+11%2021: $2.9B$2.9B2021+16%2022: $2.8B$2.8B2022−3%2023: $3.0B$3.0B2023+7%2024: $3.7B$3.7B2024+23%2025: $4.3B$4.3B2025+15%
Operating income56784$1.9B in 2025+98% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $945.6M$945.6M20192020: $1.1B$1.1B2020+11%2021: $1.2B$1.2B2021+16%2022: $1.0B$1.0B2022−16%2023: $1.1B$1.1B2023+6%2024: $1.6B$1.6B2024+46%2025: $1.9B$1.9B2025+18%
Net income56784$1.7B in 2025+75% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $952.5M$952.5M20192020: $992.3M$992.3M2020+4%2021: $1.1B$1.1B2021+9%2022: $973.6M$973.6M2022−10%2023: $1.3B$1.3B2023+32%2024: $1.4B$1.4B2024+9%2025: $1.7B$1.7B2025+18%

Every line of the income statement in the latest annual report, as filed.4

Period ending2025-12-312024-12-312023-12-31
Net sales$7.2B$6.3B$5.2B
Cost of goods sold$3.0B$2.6B$2.2B
Gross profit$4.3B$3.7B$3.0B
Research and development expense$1.1B$993.6M$904.7M
Selling, general and administrative expenses$1.3B$1.1B$1.0B
Total operating expense$2.4B$2.1B$1.9B
Operating income$1.9B$1.6B$1.1B
Interest income$128.9M$113.5M$77.3M
Foreign currency gains (losses)$7.8M-$20.6M$26.4M
Other income$1.7M$8.5M$4.5M
Total other income (expense)$138.5M$101.4M$108.2M
Income before income taxes$2.0B$1.7B$1.2B
Current$268.1M$373.6M$250.4M
Deferred$82.5M-$89.6M-$339.7M
Total income tax provision (benefit)$350.6M$284.0M-$89.3M
Net income$1.7B$1.4B$1.3B
Basic net income per share$8.65$7.35$6.74
Diluted net income per share$8.59$7.30$6.71

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Subsidiaries and ownership

Subsidiaries

  • AeroData
  • Garmin Czech
  • Garmin France
  • Garmin Germany
  • Garmin Group
  • Garmin International, Inc.
  • Garmin UK
  • Garmin Würzburg GmbH
  • Garmin Canada Inc. since Dec 2006
  • Garmin Cayman since Jun 2010
  • Tacx since Apr 2, 2019
  • Firstbeat Analytics Oy since 2020

Also owns

  • TrainingPeaks, LLC

From Wikidata.1

Acquisitions

  1. 2020Firstbeat Analytics Oy became a subsidiary1
  2. Apr 2, 2019Tacx became a subsidiary1
  3. Jun 2010Acquired Garmin Cayman1
  4. Dec 2006Garmin Canada Inc. became a subsidiary1
  5. Succeeded Garmin Cayman1

Timeline

  1. Dec 7, 2021Went public Listed on NYSE1
  2. Jun 2010Went public Listed on NASDAQ1
  3. Feb 9, 2010Founded Founded1

Recent filings

  1. Oct 13, 2026SCHEDULE 13G/A
  2. Aug 20, 20264
  3. Aug 19, 20264 PRIMARY DOCUMENT
  4. Aug 18, 2026144
  5. Aug 11, 20264 PRIMARY DOCUMENT
  6. Aug 5, 20264 PRIMARY DOCUMENT
  7. Aug 4, 20264
  8. Aug 4, 20264
  9. Jul 31, 2026144
  10. Jul 31, 2026144
  11. Jul 31, 20264
  12. Jul 31, 20264
  13. Jul 31, 20264
  14. Jul 29, 20268-K
  15. Jul 29, 202610-Q

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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