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Garmin (GRMN)

NYSE Consumer Discretionary Consumer Electronics S&P 500
$285.57
-0.83 (-0.29%)
Close of Nov 06, 2026 · end-of-day data
Source: Garmin's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$3.02B$3.12B$3.35B$3.76B$4.19B$4.98B$4.86B$5.23B$6.30B$7.25B
Cost of revenue$1.36B$1.32B$1.37B$1.52B$1.71B$2.09B$2.05B$2.22B$2.60B$2.99B
Gross profit$1.69B$1.80B$1.98B$2.23B$2.48B$2.89B$2.81B$3.00B$3.70B$4.26B
Research & development$467.96M$511.63M$567.80M$605.37M$652.34M$778.75M$834.93M$904.70M$993.60M$1.13B
Selling, general & admin$410.56M$437.98M$478.18M$518.57M$623.59M$721.26M$944.00M$1.01B$1.11B$1.25B
Operating income$632.86M$683.64M$778.34M$945.59M$1.05B$1.22B$1.03B$1.09B$1.59B$1.88B
Pre-tax income$638.62M$697.07M$823.25M$987.22M$1.10B$1.21B$1.06B$1.20B$1.70B$2.01B
Income tax$120.90M-$11.94M$129.17M$34.74M$111.09M$124.60M$91.39M-$89.28M$283.96M$350.65M
Net income$517.72M$709.01M$694.08M$952.49M$992.32M$1.08B$973.59M$1.29B$1.41B$1.66B
EBITDA$688.66M$743.53M$843.14M$1.02B$1.13B$1.32B$1.15B$1.22B$1.73B$2.03B
EPS (basic)$2.74$3.77$3.68$5.01$5.19$5.63$5.06$6.74$7.35$8.65
EPS (diluted)$2.73$3.76$3.66$4.99$5.17$5.61$5.04$6.71$7.30$8.59
Diluted shares189.34K188.73M189.73M190.90M191.90K193.04K193.04M192.06M193.28M193.62M
Gross margin55.9%57.6%59.1%59.5%59.3%58.0%57.7%57.5%58.7%58.7%
Operating margin21.0%21.9%23.3%25.2%25.2%24.5%21.1%20.9%25.3%25.9%
Net margin17.2%22.7%20.7%25.3%23.7%21.7%20.0%24.7%22.4%23.0%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$846.88M$891.49M$1.20B$1.03B$1.46B$1.50B$1.28B$1.69B$2.08B$2.28B
Short-term investments——$182.99M$376.46M$387.64M$347.98M$173.29M$274.62M$421.27M$459.20M
Receivables$527.06M$590.88M$569.83M$706.76M$849.47M$843.45M$656.85M$815.24M$983.40M$1.25B
Inventory$484.82M$517.64M$561.84M$752.91M$762.08M$1.23B$1.52B$1.35B$1.47B$1.77B
Total current assets$2.26B$2.35B$2.67B$3.06B$3.67B$4.26B$3.96B$4.46B$5.34B$6.25B
Goodwill$224.55M$286.98M$301.02M$467.11M$584.21M$575.08M$567.99M$608.47M$603.95M$760.24M
Total assets$4.53B$4.95B$5.38B$6.17B$7.03B$7.85B$7.73B$8.60B$9.63B$10.99B
Total current liabilities$782.74M$792.12M$921.31M$1.04B$1.16B$1.45B$1.21B$1.31B$1.51B$1.72B
Total liabilities$1.07B$1.10B$1.22B$1.37B$1.52B$1.74B$1.53B$1.59B$1.78B$2.02B
Shareholders' equity$3.45B$3.85B$4.16B$4.79B$5.52B$6.11B$6.20B$7.01B$7.85B$8.97B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$705.68M$660.84M$919.52M$698.55M$1.14B$1.01B$788.26M$1.38B$1.43B$1.63B
Capital expenditures$90.96M$139.70M$155.75M$118.03M$185.40M$307.64M$244.29M$193.52M$193.57M$270.45M
Free cash flow$614.72M$521.15M$763.76M$580.52M$949.87M$704.78M$543.97M$1.18B$1.24B$1.36B
Investing cash flow-$121.68M-$194.38M-$307.50M-$450.75M-$260.52M-$475.37M-$145.12M-$332.97M-$393.33M-$645.24M
Financing cash flow-$561.68M-$448.41M-$286.16M-$416.03M-$461.76M-$486.71M-$840.62M-$636.51M-$626.86M-$844.08M
Dividends paid$481.45M$382.98M$296.15M$417.26M$450.63M$491.46M$679.10M$558.77M$572.36M$663.88M
Share buybacks$93.23M$74.52M————————
Stock-based compensation$41.25M$44.73M$56.39M$63.40M$80.89M$92.52M$76.80M$101.42M$137.16M$166.00M
Depreciation & amortization$55.80M$59.90M$64.80M$71.92M$78.12M$103.50M$118.74M$132.35M$140.49M$152.61M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.