GRMN
Garmin Ltd
NYSE: GRMN · TECHNOLOGY · SCIENTIFIC & TECHNICAL INSTRUMENTS
$253.08
+2.13% today
Updated 2026-04-29
Market cap
$50.03B
P/E ratio
30.20
P/S ratio
6.91x
EPS (TTM)
$8.59
Dividend yield
1.38%
52W range
$176 – $273
Volume
0.9M
Garmin Ltd (GRMN) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.77B | $3.18B | $3.49B | $2.95B | $2.69B | $2.76B | $2.72B | $2.63B | $2.87B | $2.82B | $3.02B | $3.09B | $3.35B | $3.76B | $4.19B | $4.98B | $4.86B | $5.23B | $6.30B | $7.25B |
| Revenue growth (YoY) | — | +79.3% | +9.9% | -15.7% | -8.7% | +2.6% | -1.6% | -3.1% | +9.1% | -1.8% | +7.0% | +2.3% | +8.4% | +12.2% | +11.4% | +19.0% | -2.5% | +7.6% | +20.4% | +15.1% |
| Cost of revenue | $891.61M | $1.72B | $1.94B | $1.50B | $1.34B | $1.42B | $1.28B | $1.22B | $1.27B | $1.28B | $1.34B | $1.30B | $1.37B | $1.52B | $1.71B | $2.09B | $2.05B | $2.22B | $2.60B | $2.99B |
| Gross profit | $882.39M | $1.46B | $1.55B | $1.44B | $1.35B | $1.34B | $1.44B | $1.41B | $1.60B | $1.54B | $1.68B | $1.78B | $1.98B | $2.23B | $2.48B | $2.89B | $2.81B | $3.00B | $3.70B | $4.26B |
| Gross margin | 49.7% | 46.0% | 44.5% | 49.0% | 50.1% | 48.5% | 53.0% | 53.5% | 55.9% | 54.6% | 55.6% | 57.8% | 59.1% | 59.5% | 59.3% | 58.0% | 57.7% | 57.5% | 58.7% | 58.7% |
| R&D | $113.31M | $159.41M | $206.11M | $238.38M | $277.26M | $298.58M | $325.77M | $364.92M | $395.12M | $427.04M | $467.96M | $511.63M | $567.80M | $605.37M | $705.68M | $840.02M | $834.93M | $904.70M | $993.60M | $1.13B |
| SG&A | $214.50M | $396.50M | $485.40M | $264.20M | $287.82M | $341.22M | $369.79M | $355.44M | $372.03M | $394.91M | $410.56M | $437.98M | $478.18M | $518.57M | $570.25M | $659.99M | $775.96M | $834.99M | $917.38M | $1.25B |
| Operating income | $554.56M | $907.35M | $862.02M | $786.01M | $636.68M | $553.77M | $604.16M | $574.03M | $690.63M | $549.58M | $623.91M | $668.86M | $778.34M | $945.59M | $1.05B | $1.22B | $1.03B | $1.09B | $1.59B | $1.88B |
| Operating margin | 31.3% | 28.5% | 24.7% | 26.7% | 23.7% | 20.1% | 22.2% | 21.8% | 24.1% | 19.5% | 20.7% | 21.7% | 23.3% | 25.2% | 25.2% | 24.5% | 21.1% | 20.9% | 25.3% | 25.9% |
| EBITDA | $599.03M | $1.04B | $993.39M | $905.14M | $671.92M | $648.30M | $694.63M | $652.84M | $767.64M | $627.94M | $719.20M | $769.89M | $874.54M | $1.05B | $1.18B | $1.37B | $1.19B | $1.27B | $1.77B | $2.06B |
| EBITDA margin | 33.8% | 32.8% | 28.4% | 30.7% | 25.0% | 23.5% | 25.6% | 24.8% | 26.7% | 22.3% | 23.8% | 24.9% | 26.1% | 28.0% | 28.2% | 27.6% | 24.5% | 24.3% | 28.2% | 28.5% |
| EBIT | $554.56M | $978.48M | $914.97M | $808.65M | $577.27M | $553.77M | $604.16M | $574.03M | $690.63M | $549.58M | $632.86M | $683.64M | $778.34M | $945.59M | $1.05B | $1.22B | $1.03B | $1.09B | $1.59B | $1.88B |
| Interest expense | $44.13M | $207000.00 | $607000.00 | $23.52M | $1.25M | $32.81M | $35.11M | $35.27M | $35.58M | $29.65M | $33.41M | $36.92M | $47.15M | $24.84M | $51.99M | $57.09M | $40.83M | — | — | — |
| Income tax | $80.43M | $123.26M | $181.52M | $104.70M | $-7.33M | $63.27M | $82.13M | $41.15M | $359.53M | $110.96M | $118.86M | $-12.66M | $129.17M | $34.74M | $111.09M | $124.60M | $91.39M | $-89.28M | $283.96M | $350.65M |
| Effective tax rate | 13.5% | 12.6% | 19.9% | 12.9% | -1.3% | 10.8% | 13.1% | 6.3% | 49.7% | 19.6% | 18.9% | -1.9% | 15.7% | 3.5% | 10.1% | 10.3% | 8.6% | -7.4% | 16.7% | 17.4% |
| Net income | $514.12M | $855.01M | $732.85M | $703.95M | $584.60M | $520.90M | $542.40M | $612.41M | $364.21M | $456.23M | $510.81M | $694.96M | $694.08M | $952.49M | $992.32M | $1.08B | $973.59M | $1.29B | $1.41B | $1.66B |
| Net income growth (YoY) | — | +66.3% | -14.3% | -3.9% | -17.0% | -10.9% | +4.1% | +12.9% | -40.5% | +25.3% | +12.0% | +36.0% | -0.1% | +37.2% | +4.2% | +9.1% | -10.0% | +32.5% | +9.4% | +17.9% |
| Profit margin | 29.0% | 26.9% | 21.0% | 23.9% | 21.7% | 18.9% | 20.0% | 23.3% | 12.7% | 16.2% | 16.9% | 22.5% | 20.7% | 25.3% | 23.7% | 21.7% | 20.0% | 24.7% | 22.4% | 23.0% |