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Garmin Ltd (GRMN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · Consumer Electronics · DATA UPDATED 2026-07-14

Garmin Ltd (GRMN) operates in the Consumer Electronics industry and is headquartered in Schaffhausen, Switzerland with about 23,000 employees. Its market capitalization is roughly $47 billion. In the fiscal year ended 2025-12-31, GRMN reported $7.2B in revenue and $1.7B in net income.

Garmin Ltd. designs, develops, manufactures, markets, and distributes a diverse range of GPS-enabled products and navigation, communications, sensor-based, and information products and services worldwide.

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GRMN Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$7.5B	$7.2B	$6.3B	$5.2B	$4.9B	$5.0B	$4.2B	$3.8B	$3.3B	$3.1B	$3.0B	$2.8B	$2.9B	$2.6B	$2.7B	$2.8B	$2.7B	$2.9B	$3.5B	$3.2B	$1.8B
Gross Profit	$4.4B	$4.3B	$3.7B	$3.0B	$2.8B	$2.9B	$2.5B	$2.2B	$2.0B	$1.8B	$1.7B	$1.5B	$1.6B	$1.4B	$1.4B	$1.3B	$1.3B	$1.4B	$1.6B	$1.5B	$882M
Gross Margin %	59.1%	58.7%	58.7%	57.5%	57.8%	58.0%	59.3%	59.5%	59.1%	57.8%	55.6%	54.6%	55.9%	53.5%	53.0%	48.5%	50.0%	49.0%	44.5%	46.0%	49.7%
Operating Income (EBIT)	$2.0B	$1.9B	$1.6B	$1.1B	$1.0B	$1.2B	$1.1B	$946M	$778M	$669M	$624M	$550M	$691M	$574M	$604M	$554M	$637M	$786M	$862M	$907M	$555M
Operating Margin %	26.5%	25.9%	25.3%	20.9%	21.1%	24.5%	25.2%	25.2%	23.2%	21.7%	20.7%	19.5%	24.1%	21.8%	22.2%	20.1%	23.7%	26.7%	24.7%	28.5%	31.3%
Net Income	$1.7B	$1.7B	$1.4B	$1.3B	$974M	$1.1B	$992M	$952M	$694M	$695M	$511M	$456M	$364M	$612M	$542M	$521M	$585M	$704M	$733M	$855M	$514M
Net Margin %	23.3%	23.0%	22.4%	24.7%	20.0%	21.7%	23.7%	25.4%	20.7%	22.5%	16.9%	16.2%	12.7%	23.3%	20.0%	18.9%	21.7%	23.9%	21.0%	26.9%	29.0%
EBITDA	$2.3B	$2.2B	$1.9B	$1.3B	$1.2B	$1.4B	$1.2B	$1.1B	$875M	$770M	$719M	$628M	$768M	$653M	$695M	$648M	$672M	$905M	$993M	$1.0B	$599M
Earnings Per Share (EPS)	$8.97	$8.59	$7.30	$6.71	$5.04	$5.61	$5.17	$4.99	$3.66	$3.68	$2.70	$2.39	$1.88	$3.12	$2.76	$2.67	$2.95	$3.50	$3.48	$3.89	$2.35
Shares Outstanding (M)	194M	194M	193M	192M	193M	193M	192M	191M	190M	189M	189M	191M	194M	196M	196M	195M	198M	201M	211M	220M	219M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GRMN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.8B	$2.1B	$1.8B	$1.8B	$1.5B	$1.8B	$1.6B	$1.5B
Gross Profit	$1.0B	$1.3B	$1.0B	$1.1B	$885M	$1.1B	$952M	$863M
Gross Margin %	59.4%	59.2%	59.1%	58.8%	57.6%	59.2%	60.0%	57.3%
Operating Income (EBIT)	$432M	$614M	$457M	$472M	$333M	$516M	$437M	$342M
Operating Margin %	24.6%	28.9%	25.8%	26.0%	21.7%	28.3%	27.6%	22.7%
Net Income	$405M	$529M	$402M	$401M	$333M	$436M	$399M	$301M
Net Margin %	23.1%	24.9%	22.7%	22.1%	21.7%	23.9%	25.2%	20.0%
EBITDA	$522M	$682M	$559M	$527M	$435M	$563M	$531M	$410M
Earnings Per Share (EPS)	$2.09	$2.73	$2.08	$2.07	$1.72	$2.25	$2.07	$1.56
Shares Outstanding (M)	194M	194M	194M	193M	194M	194M	193M	193M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GRMN Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$1.7B	$1.6B	$1.4B	$1.4B	$788M	$1.0B	$1.1B	$699M	$920M	$661M	$706M	$280M	$523M	$630M	$685M	$822M	$771M	$1.1B	$862M	$682M	$362M
Capital Expenditures (CapEx)	$297M	$270M	$194M	$195M	$246M	$310M	$187M	$120M	$160M	$152M	$97M	$84M	$78M	$57M	$45M	$41M	$36M	$57M	$127M	$160M	$96M
Free Cash Flow (FCF)	$1.5B	$1.4B	$1.2B	$1.2B	$542M	$703M	$948M	$578M	$759M	$509M	$609M	$196M	$445M	$573M	$640M	$781M	$735M	$1.0B	$736M	$522M	$266M
FCF Margin %	19.4%	18.8%	19.7%	22.6%	11.2%	14.1%	22.6%	15.4%	22.7%	16.5%	20.2%	7.0%	15.5%	21.8%	23.5%	28.3%	27.3%	35.2%	21.1%	16.4%	15.0%
Dividends Paid	$693M	$664M	$572M	$559M	$679M	$491M	$451M	$417M	$296M	$383M	$481M	$378M	$360M	$352M	$253M	$311M	$299M	$150M	$150M	$163M	$108M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GRMN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$536M	$554M	$486M	$173M	$421M	$484M	$258M	$255M
Capital Expenditures (CapEx)	$67M	$124M	$61M	$46M	$40M	$85M	$39M	$37M
Free Cash Flow (FCF)	$469M	$430M	$425M	$127M	$381M	$399M	$219M	$218M
FCF Margin %	26.8%	20.2%	24.0%	7.0%	24.8%	21.9%	13.8%	14.5%
Dividends Paid	$174M	$173M	$173M	$173M	$145M	$144M	$144M	$144M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GRMN Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$11.0B	$11.0B	$9.6B	$8.6B	$7.7B	$7.9B	$7.0B	$6.2B	$5.4B	$5.0B	$4.5B	$4.5B	$4.7B	$4.9B	$4.8B	$4.5B	$4.0B	$3.8B	$2.9B	$3.3B	$1.9B
Cash & Cash Equivalents	$2.3B	$2.3B	$2.1B	$1.7B	$1.3B	$1.5B	$1.5B	$1.0B	$1.2B	$891M	$847M	$833M	$1.2B	$1.2B	$1.2B	$1.3B	$1.3B	$1.1B	$696M	$708M	$337M
Total Liabilities	$1.7B	$2.0B	$1.8B	$1.6B	$1.5B	$1.7B	$1.5B	$1.4B	$1.2B	$1.2B	$1.1B	$1.2B	$1.3B	$1.2B	$1.3B	$1.2B	$939M	$989M	$699M	$941M	$339M
Total Debt (Short + Long-Term)	$0M	$31M	$28M	$225M	$25M	$21M	$19M	$15M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M
Total Shareholders' Equity	$9.3B	$9.0B	$7.8B	$7.0B	$6.2B	$6.1B	$5.5B	$4.8B	$4.2B	$3.8B	$3.4B	$3.3B	$3.4B	$3.7B	$3.5B	$3.3B	$3.0B	$2.8B	$2.2B	$2.4B	$1.6B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive GRMN viewer.

Other Companies in Consumer Electronics

SONO · Sonos, Inc. — $2 billion
TBCH · Turtle Beach Corporation — $257 million
VUZI · Vuzix Corporation — $203 million
GPRO · GoPro, Inc. — $131 million
UEIC · Universal Electronics Inc. — $59 million
KOSS · Koss Corporation — $36 million
FOXX · Foxx Development Holdings Inc. — $20 million
FEBO · Fenbo Holdings Limited — $9 million

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