Garmin LTD (GRMN) Financial Statements
Industry: Search, Detection, Navigation, Guidance, Aeronautical Sys
In fiscal 2025, Garmin reported revenue of $7.25B, up 15.1% from $6.30B the year before. Net income was $1.66B (a 23.0% net margin), or $8.59 per diluted share. Gross margin was 58.7% and operating margin was 25.9%. Operating activities generated $1.63B of cash, leaving $1.36B of free cash flow. At fiscal year end, Garmin held $8.97B in total assets against $2.02B in total liabilities, including $2.28B of cash and equivalents.
Open the full interactive Garmin financials → Quarterly statements, key ratios, valuation history and price charts.
Garmin Key Stats
| Share Price | $276.41 |
|---|---|
| Market Cap | $53.48B |
| P/E Ratio | 32.2 |
| Dividend Yield | 1.35% |
| Revenue YoY Growth | +15.1% |
| 52-Week Range | $184.06 – $311.95 |
| Shares Outstanding | 192.8 million (basic, 2026 Q2) |
Garmin Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $4.19B | $4.98B | $4.86B | $5.23B | $6.30B | $7.25B |
| Cost of Goods Sold | $1.71B | $2.09B | $2.05B | $2.22B | $2.60B | $2.99B |
| Gross Profit | $2.48B | $2.89B | $2.81B | $3.00B | $3.70B | $4.26B |
| Operating Income | $1.05B | $1.22B | $1.03B | $1.09B | $1.59B | $1.88B |
| Pre-Tax Income | $1.10B | $1.21B | $1.06B | $1.20B | $1.70B | $2.01B |
| Income Tax | $111.1M | $124.6M | $91.4M | -$89.3M | $284.0M | $350.6M |
| Net Income | $992.3M | $1.08B | $973.6M | $1.29B | $1.41B | $1.66B |
| Diluted EPS | $5.17 | $5.61 | $5.04 | $6.71 | $7.30 | $8.59 |
Garmin Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.77B | $2.12B | $1.75B | $2.02B |
| Net Income | $401.6M | $528.7M | $405.1M | $541.9M |
| Diluted EPS | $2.08 | $2.73 | $2.09 | $2.80 |
Garmin Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.46B | $1.50B | $1.28B | $1.69B | $2.08B | $2.28B |
| Current Assets | $3.67B | $4.26B | $3.96B | $4.46B | $5.34B | $6.25B |
| Total Assets | $5.52B | $6.11B | $6.20B | $7.01B | $7.85B | $8.97B |
| Current Liabilities | $1.16B | $1.45B | $1.21B | $1.31B | $1.51B | $1.72B |
| Total Liabilities | $1.52B | $1.74B | $1.53B | $1.59B | $1.78B | $2.02B |
| Shareholders' Equity | $5.52B | $6.11B | $6.20B | $7.01B | $7.85B | $8.97B |
Garmin Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.14B | $1.01B | $788.3M | $1.38B | $1.43B | $1.63B |
| Cash From Investing | -$260.5M | -$475.4M | -$145.1M | -$333.0M | -$393.3M | -$645.2M |
| Cash From Financing | -$461.8M | -$486.7M | -$840.6M | -$636.5M | -$626.9M | -$844.1M |
| Free Cash Flow | $949.9M | $704.8M | $544.0M | $1.18B | $1.24B | $1.36B |
| Dividends Paid | $450.6M | $491.5M | $679.1M | $558.8M | $572.4M | $663.9M |
Figures from Garmin's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Garmin financials page for every line item.
Garmin Company Profile
| Ticker | GRMN |
|---|---|
| Exchange | NYSE |
| Industry | Search, Detection, Navigation, Guidance, Aeronautical Sys |
| Headquarters | Schaffhausen |
| Fiscal Year End | December 26 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001121788 |
Frequently Asked Questions
What was Garmin's revenue in fiscal 2025?
Garmin (GRMN) reported revenue of $7.25B for fiscal 2025.
What is Garmin's annual revenue history?
Garmin's annual revenue by fiscal year: 2020: $4.19B; 2021: $4.98B; 2022: $4.86B; 2023: $5.23B; 2024: $6.30B; 2025: $7.25B.
What was Garmin's net income in fiscal 2025?
Garmin reported net income of $1.66B for fiscal 2025.
What was Garmin's earnings per share (EPS) in fiscal 2025?
Garmin's diluted EPS was $8.59 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Garmin generate in fiscal 2025?
Garmin generated $1.36B of free cash flow in fiscal 2025.
What was Garmin's revenue last quarter?
In its most recent reported quarter (2026 Q2), Garmin reported revenue of $2.02B.
How many shares of Garmin are outstanding?
Garmin reported a weighted average of 192.8 million basic shares outstanding in 2026 Q2.
What is Garmin's market cap?
Based on its latest closing price, Garmin (GRMN) has a market capitalization of about $53.48B.
When does Garmin's fiscal year end?
Garmin's fiscal year end, as registered with the SEC, is December 26.
Where is Garmin headquartered?
Garmin lists its business address in Schaffhausen in its SEC filings.
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