83/100BGarmin financials
Yes. Garmin earned 2.02B USD of net income over the last twelve months, 25.6% of its revenue. It made a profit in 27 of its 27 fiscal years since 1999.
- Revenue (TTM)
- 7.89B USD
- Net income (TTM)
- 2.02B USD
- Free cash flow (TTM)
- 1.40B USD
- Cash and short-term investments
- 2.34B USD
- Total debt
- 173.49M USD
- Shareholders' equity
- 9.55B USD
Cash, debt and equity as of 26 Sept 2026.
Garmin earnings
Revenue
EPS
| Period | Report date | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|---|
| Q1 FY2027 | 2.23 | — | — | +7.42% | 2.02B | — | — | +15.32% | |
| Q4 FY2026 | 3.12 | — | — | +11.83% | 2.38B | — | — | +11.88% | |
| Q3 FY2026 | 2.41 | 2.76 | +14.52% | +38.69% | 1.99B | 1.99B | -0.13% | +12.15% | |
| Q2 FY2026 | 2.30 | 2.81 | +22.17% | +29.49% | 1.93B | 2.02B | +4.99% | +11.44% | |
| Q1 FY2026 | 1.84 | 2.08 | +13.04% | +29.19% | 1.72B | 1.75B | +1.71% | +14.23% | |
| Q4 FY2025 | 2.40 | 2.79 | +16.25% | +15.77% | 2.02B | 2.12B | +5.28% | +16.59% | |
| Q3 FY2025 | 1.99 | 1.99 | 0.00% | 0.00% | 1.78B | 1.77B | -0.61% | +11.66% | |
| Q2 FY2025 | 1.90 | 2.17 | +14.21% | +37.34% | 1.70B | 1.81B | +6.69% | +20.44% |
| Period | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|
| FY2028 | 13.06 | — | — | +13.65% | 10.25B | — | — | +12.05% |
| FY2027 | 11.49 | — | — | +6.98% | 9.15B | — | — | +12.40% |
| FY2026 | 10.74 | — | — | +25.50% | 8.14B | — | — | +12.36% |
| FY2025 | 8.20 | 8.56 | +4.35% | +15.68% | 7.14B | 7.25B | +1.42% | +15.06% |
| FY2024 | 7.08 | 7.40 | +4.54% | +32.14% | 6.18B | 6.30B | +1.93% | +20.44% |
| FY2023 | 5.28 | 5.60 | +6.02% | +8.95% | 5.17B | 5.23B | +1.13% | +7.57% |
| FY2022 | 5.01 | 5.14 | +2.53% | -11.68% | 4.85B | 4.86B | +0.23% | -2.46% |
Garmin growth and profitability
Full income statement- Revenue (TTM)
- 7.89B USD
- Net income (TTM)
- 2.02B USD
- Gross margin
- 61.12%
- Operating margin
- 28.82%
- Net margin
- 25.58%
Revenue / Net income
How Garmin makes its money
FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.
FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.
Garmin revenue breakdown
By product
| Segment | Revenue | Share of revenue | Change on the year |
|---|---|---|---|
| Fitness | 2.36B | 32.5% | +32.8% |
| Outdoor | 2.05B | 28.3% | +4.7% |
| Marine | 1.18B | 16.3% | +10.2% |
| Aviation | 987.16M | 13.6% | +12.6% |
| Automotive Mobile | 664.68M | 9.2% | +8.9% |
By region
| Region | Revenue | Share of revenue | Change on the year |
|---|---|---|---|
| Americas | 3.45B | 47.7% | +13.8% |
| EMEA | 2.74B | 37.8% | +18.2% |
| Asia Pacific | 1.05B | 14.5% | +11.5% |
Operating and free cash flow
Full cash flow statementGarmin financial health
Full balance sheet- Cash and short-term investments
- 2.34B USD
- Total debt
- 173.49M USD
- Net cash
- 2.17B USD
- Free cash flow (TTM)
- 1.40B USD
- Current ratio
- 3.05
- Debt to equity
- 0.02
- Piotroski score
- 5 / 9
- Altman Z-score
- 16.20
Cash, debt and free cash flow
Assets, liabilities and equity
Garmin valuation
- Price to earnings ratio (TTM)
- 27.29
- Forward P/E (FY2026)
- 26.60
- Price to sales (TTM)
- 6.98
- Price to book
- 5.77
- EV / EBITDA (TTM)
- 20.23
Capital structure
Valuation over time
Garmin against its own history
Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.
Its peers: Keysight Technologies, Corning, Coherent, Teledyne Technologies, Flex, and Jabil, the US Hardware, Equipment & Parts companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.
- P/E (today)Above its median27.314.932.9
- Gross marginHighest in 5 years58.7%57.5%58.7%Against its peers: 2 of 7Peers' median 36.4%
- Operating marginHighest in 5 years25.9%20.9%25.9%Against its peers: 1 of 7Peers' median 13.8%
- Net marginAbove its median23.0%20.0%24.7%Against its peers: 1 of 7Peers' median 10.8%
- Return on equityHighest in 5 years18.5%15.7%18.5%Against its peers: 2 of 7Peers' median 14.0%
- Free cash flow marginAt its median18.8%11.2%22.6%Against its peers: 2 of 7Peers' median 6.4%
- Revenue growthAt its median15.1%-2.5%20.4%Against its peers: 4 of 7Peers' median 13.6%
- EPS growthAbove its median17.7%-10.2%33.1%Against its peers: 4 of 6Peers' median 39.0%
- Debt to EBITDAAbove its median0.09×0.05×0.09×Against its peers: 1 of 7Peers' median 2.17×
- Current ratioHighest in 5 years3.632.943.63Against its peers: 1 of 7Peers' median 1.62
Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.
Garmin dividends
- Annual dividend
- 4.20 USD
- Dividend yield (indicated)
- 1.47%
- Payout ratio
- 57.31%
- Years of dividend growth
- 9
- Frequency
- Quarterly
- Last payment
- 1.05 USD
- Last ex-dividend date
- 12 Mar 2027
- Last payment date
- 26 Mar 2027
Dividends per share
Garmin ownership
- Institutions
- 57.65%
- Institutional holders
- 1,039 (-5)
- Free float
- 85.29%
Who owns the shares
Shares free to trade
Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.
Insider trading
| Quarter | Purchases | Sales | Shares acquired | Shares disposed of |
|---|---|---|---|---|
| Q4 2026 | 0 | 0 | 0.00 | 497.00 |
| Q3 2026 | 0 | 12 | 1.95M | 2.31M |
| Q2 2026 | 0 | 8 | 1.59M | 1.93M |
| Q1 2026 | 0 | 20 | 1.77M | 1.76M |
Shares outstanding
Common questions about Garmin's financials
Source: Financial Modeling Prep