GRMN · Garmin Ltd - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.75B | - | $1.77B | $1.81B | $1.54B | - | $1.59B | $1.51B | $1.38B | - |
| Cost of Revenue | $711.20M | - | $724.41M | $747.55M | $650.55M | - | $634.42M | $643.78M | $579.51M | - |
| Gross Profit | $1.04B | - | $1.05B | $1.07B | $884.54M | - | $951.60M | $862.89M | $802.14M | - |
| R&D | $295.82M | - | $286.46M | $276.66M | $268.12M | - | $249.16M | $243.15M | $242.53M | - |
| SG&A | $314.81M | - | $303.22M | $318.05M | $283.60M | - | $264.96M | $277.71M | $261.19M | - |
| Total Operating Expenses | $610.62M | - | $589.68M | $594.72M | $551.72M | - | $514.12M | $520.86M | $503.73M | - |
| D&A | $40.42M | - | - | - | $37.46M | - | - | - | $33.89M | - |
| Operating Income | $431.67M | - | $456.80M | $472.30M | $332.82M | - | $437.48M | $342.03M | $298.41M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $67.45M | - | $108.20M | $79.43M | $56.31M | - | $87.14M | $65.34M | $51.08M | - |
| Net Income | $405.08M | - | $401.62M | $400.82M | $332.77M | - | $399.11M | $300.63M | $275.96M | - |
| EPS - Basic | $2.10 | - | $2.09 | $2.08 | $1.73 | - | $2.08 | $1.57 | $1.44 | - |
| EPS - Diluted | $2.09 | - | $2.08 | $2.07 | $1.72 | - | $2.07 | $1.56 | $1.43 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.29B | $2.28B | $2.07B | $2.07B | $2.18B | $2.08B | $2.01B | $1.94B | $1.92B | $1.69B |
| Accounts Receivable | $940.96M | $1.25B | $955.61M | $1.01B | $787.13M | $983.40M | $922.03M | $808.45M | $694.69M | $815.24M |
| Inventory | $1.85B | $1.77B | $1.89B | $1.79B | $1.58B | $1.47B | $1.51B | $1.32B | $1.30B | $1.35B |
| Accounts Payable | $344.72M | $347.49M | $378.02M | $397.30M | $344.80M | $359.37M | $374.02M | $331.94M | $243.09M | $253.79M |
| Current Assets | $6.00B | $6.25B | $5.81B | $5.82B | $5.45B | $5.34B | $5.21B | $4.70B | $4.52B | $4.46B |
| Total Assets | $10.95B | $10.99B | $10.52B | $10.32B | $9.79B | $9.63B | $9.35B | $8.88B | $8.63B | $8.60B |
| Current Liabilities | $1.38B | $1.72B | $1.75B | $1.93B | $1.33B | $1.51B | $1.58B | $1.62B | $1.12B | $1.31B |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $9.27B | $8.97B | $8.48B | $8.13B | $8.18B | $7.85B | $7.51B | $7.00B | $7.25B | $7.01B |
| Retained Earnings | $7.37B | $6.97B | $6.44B | $6.04B | $6.33B | $6.00B | $5.56B | $5.16B | $5.44B | $5.26B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $535.99M | - | - | - | $420.79M | - | - | - | $435.31M | - |
| Investing Cash Flow | ($252.37M) | - | - | - | ($132.60M) | - | - | - | ($36.88M) | - |
| Financing Cash Flow | ($260.05M) | - | - | - | ($204.81M) | - | - | - | ($156.20M) | - |
| CapEx | $66.62M | - | - | - | $40.06M | - | - | - | $33.17M | - |
| Free Cash Flow | $469.37M | - | - | - | $380.73M | - | - | - | $402.14M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 59.4% | - | 59.1% | 58.8% | 57.6% | - | 60.0% | 57.3% | 58.1% | - |
| Operating margin | 24.6% | - | 25.8% | 26.0% | 21.7% | - | 27.6% | 22.7% | 21.6% | - |
| EBITDA margin | 26.9% | - | - | - | 24.1% | - | - | - | 24.1% | - |
| Net margin | 23.1% | - | 22.7% | 22.1% | 21.7% | - | 25.2% | 20.0% | 20.0% | - |
| Free cash flow margin | 26.8% | - | - | - | 24.8% | - | - | - | 29.1% | - |
| FCF / Net income | 1.16 | - | - | - | 1.14 | - | - | - | 1.46 | - |
| R&D / Revenue | 16.9% | - | 16.2% | 15.2% | 17.5% | - | 15.7% | 16.1% | 17.6% | - |
| SG&A / Revenue | 18.0% | - | 17.1% | 17.5% | 18.5% | - | 16.7% | 18.4% | 18.9% | - |
| Effective tax rate | 14.3% | - | 21.2% | 16.5% | 14.5% | - | 17.9% | 17.9% | 15.6% | - |
| Return on assets | 3.7% | - | 3.8% | 3.9% | 3.4% | - | 4.3% | 3.4% | 3.2% | - |
| Return on equity | 4.4% | - | 4.7% | 4.9% | 4.1% | - | 5.3% | 4.3% | 3.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 4.36 | 3.63 | 3.32 | 3.01 | 4.10 | 3.54 | 3.30 | 2.89 | 4.04 | 3.41 |
| Quick ratio | 3.02 | 2.60 | 2.24 | 2.09 | 2.91 | 2.56 | 2.35 | 2.08 | 2.88 | 2.38 |
| Cash ratio | 1.67 | 1.32 | 1.18 | 1.07 | 1.64 | 1.38 | 1.27 | 1.19 | 1.72 | 1.29 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.18 | 1.23 | 1.24 | 1.27 | 1.20 | 1.23 | 1.25 | 1.27 | 1.19 | 1.23 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.16 | - | 0.17 | 0.18 | 0.16 | - | 0.17 | 0.17 | 0.16 | - |
| Inventory turnover | 0.38 | - | 0.38 | 0.42 | 0.41 | - | 0.42 | 0.49 | 0.45 | - |
| Days sales outstanding | 196d | - | 197d | 203d | 187d | - | 212d | 196d | 184d | - |
| Days inventory outstanding | 950d | - | 951d | 873d | 888d | - | 866d | 748d | 820d | - |
| Days payable outstanding | 177d | - | 190d | 194d | 193d | - | 215d | 188d | 153d | - |
| Cash conversion cycle | 969d | - | 958d | 882d | 881d | - | 863d | 756d | 851d | - |
| Valuation | ||||||||||
| P / E | 110.1x | - | 115.6x | 100.7x | 124.2x | - | 84.1x | 104.4x | 104.1x | - |
| P / B | 4.8x | - | 5.5x | 5.0x | 5.1x | - | 4.5x | 4.5x | 4.0x | - |
| P / S | 25.4x | - | 26.3x | 22.2x | 27.0x | - | 21.2x | 20.9x | 20.8x | - |
| EV / EBITDA | 89.5x | - | - | - | 105.9x | - | - | - | 80.5x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 14.2% | - | 11.7% | 20.4% | 11.1% | - | 24.1% | 14.1% | 20.4% | - |
| Revenue CAGR (3y) | 15.2% | - | 15.8% | 13.5% | 9.4% | - | 10.0% | 4.3% | 8.8% | - |
| Revenue CAGR (5y) | 10.3% | - | 9.8% | 13.7% | 14.9% | - | - | - | - | - |
| Gross profit growth (YoY) | 17.8% | - | 10.0% | 23.7% | 10.3% | - | 30.6% | 13.6% | 22.9% | - |
| Operating income growth (YoY) | 29.7% | - | 4.4% | 38.1% | 11.5% | - | 61.8% | 20.3% | 51.5% | - |
| Net income growth (YoY) | 21.7% | - | 0.6% | 33.3% | 20.6% | - | 55.1% | 4.4% | 36.4% | - |
| EPS growth (YoY) | 21.5% | - | 0.5% | 32.7% | 20.3% | - | 54.5% | 4.0% | 36.2% | - |
| EPS CAGR (3y) | 25.8% | - | 24.0% | 15.9% | 16.4% | - | 15.6% | -1.7% | 7.8% | - |
| EPS CAGR (5y) | 12.9% | - | 5.0% | 16.6% | 15.4% | - | 11.7% | 5.9% | 14.1% | - |
| FCF growth (YoY) | 23.3% | - | - | - | -5.3% | - | - | - | 73.0% | - |
| FCF CAGR (5y) | 7.2% | - | - | - | 15.6% | - | - | - | 24.5% | - |
| Book value growth (YoY) | 13.3% | 14.3% | 12.9% | 16.0% | 12.9% | 11.9% | 18.2% | 14.4% | 13.1% | 13.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-27.
Business segments
$7.25B totalFitness Segment$2.36B · 32.5%
Outdoor Segment$2.05B · 28.3%
Marine Segment$1.18B · 16.3%
Aviation Segment$987.16M · 13.6%
Auto Oem Segment$664.68M · 9.2%
Peer comparison
Same SIC group: Search, Detection, Navigation, Guidance, Aeronautical Sys
Comparing GARMIN LTD against the 5 most active filers in the same SIC group.
Dividends
$3.60/share trailing 12 months · +20.0% YoY
| Ex-date | Per share |
|---|---|
| Mar 13, 2026 | $0.9000 |
| Dec 12, 2025 | $0.9000 |
| Sep 12, 2025 | $0.9000 |
| Jun 16, 2025 | $0.9000 |
| Mar 14, 2025 | $0.7500 |
| Dec 13, 2024 | $0.7500 |
| Sep 13, 2024 | $0.7500 |
| Jun 17, 2024 | $0.7500 |
| Mar 14, 2024 | $0.7300 |
| Dec 14, 2023 | $0.7300 |
| Sep 14, 2023 | $0.7300 |
| Jun 16, 2023 | $0.7300 |
| Mar 14, 2023 | $0.7300 |
| Dec 14, 2022 | $0.7300 |
| Sep 14, 2022 | $0.7300 |
| Jun 16, 2022 | $0.7300 |
| Mar 14, 2022 | $0.6700 |
| Dec 14, 2021 | $0.6700 |
| Sep 14, 2021 | $0.6700 |
| Jun 14, 2021 | $0.6700 |
| Mar 12, 2021 | $0.6100 |
| Dec 14, 2020 | $0.6100 |
| Sep 14, 2020 | $0.6100 |
| Jun 12, 2020 | $0.6100 |