Garmin (GRMN) financials
Garmin revenue and earnings by year
Garmin's revenue was $7.25 billion in the fiscal year to December 27, 2025, up 15.1% from the year before. Net income was $1.66 billion, 23.0% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 10.1% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 7.25 | 6.30 | 5.23 | 4.86 | 4.98 | 4.19 | 3.76 | 3.35 | 3.12 | 3.05 |
| Revenue growth | 15.1% | 20.4% | 7.6% | -2.5% | 19.0% | 11.4% | 12.2% | 7.2% | 2.5% | — |
| Gross profit | 4.26 | 3.70 | 3.00 | 2.81 | 2.89 | 2.48 | 2.23 | 1.98 | 1.80 | 1.69 |
| Gross margin | 58.7% | 58.7% | 57.5% | 57.7% | 58.0% | 59.3% | 59.5% | 59.1% | 57.6% | 55.4% |
| Operating income | 1.88 | 1.59 | 1.09 | 1.03 | 1.22 | 1.05 | 0.95 | 0.78 | 0.68 | 0.63 |
| Operating margin | 25.9% | 25.3% | 20.9% | 21.1% | 24.5% | 25.2% | 25.2% | 23.3% | 21.9% | 20.8% |
| Net income | 1.66 | 1.41 | 1.29 | 0.97 | 1.08 | 0.99 | 0.95 | 0.69 | 0.71 | 0.52 |
| Net margin | 23.0% | 22.4% | 24.7% | 20.0% | 21.7% | 23.7% | 25.3% | 20.7% | 22.7% | 17.0% |
| Diluted EPS | $8.59 | $7.30 | $6.71 | $5.04 | $5.61 | $5.16 | $4.99 | $3.65 | $3.75 | $2.69 |
| Free cash flow | 1.36 | 1.24 | 1.18 | 0.54 | 0.70 | 0.95 | 0.58 | 0.77 | 0.52 | 0.62 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open GRMN in Markets.
How Garmin makes money
Revenue by segment in the quarter to September 26, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Fitness | $694M | 35.0% |
| Outdoor | $597M | 30.1% |
| Marine | $310M | 15.6% |
| Aviation | $253M | 12.7% |
| Auto OEM | $132M | 6.6% |
See also: GRMN valuation and P/E history · GRMN returns
No forecast, no recommendation. This page describes Garmin from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.