Garmin Ltd.
Financial Performance
Garmin Revenue & Financials
Revenue
$7.2B (FY2025)
Market Cap
$54B
Net Income
$1.7B
Employees
23,000
What is Garmin's revenue?
Garmin had $7.2B in revenue for fiscal year 2025, up 15.1% from 2024. Net income was $1.7B.
- Latest revenue
- $7.2B (FY2025)
- Year-over-year
- +15.1%
- Growth rate (CAGR)
- 10.2% over 9 years
- Peak revenue
- $7.2B (FY2025)
- Years of data
- 10
- Employees
- 23,000
Financial Analysis
Garmin has no long-term debt, and its revenue grew from $4.98 billion in 2021 to $7.25 billion in 2025. In fiscal 2025 gross margin was 58.7%, operating margin 25.9%, and GAAP EPS $8.59. In February 2026 the board proposed a 17% dividend increase and a new $500 million share buyback. Q2 2026 set records, with gross margin at 62.4%, operating margin at 30.4%, and pro forma EPS up 29% to $2.81. Management then raised its full-year 2026 outlook, which had started at about 9% revenue growth. Garmin Ltd. is a dominant multinational technology company specializing in GPS technology, sustaining a robust market valuation generally exceeding $30 billion.
Revenue Trend Analysis
YoY Change
+15.1%
9-Year CAGR
+10.2%
Peak Year
2025
Trend
Consistent Growth
Garmin Ltd. has 10 full fiscal year figures on this page, compounding at +10.2% annually over 9 years. The most recent year saw a 15.1% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $7.2B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
Click any row to see year details.
Garmin Ltd. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2025ended Dec 27, 2025 | $1.6B | $270.4M | $11B | $9B | $1.4B | Form 10-K |
| FY2024ended Dec 28, 2024 | $1.4B | $193.6M | $9.6B | $7.8B | $1.2B | Form 10-K |
| FY2023ended Dec 30, 2023 | $1.4B | $193.5M | $8.6B | $7B | $1.2B | Form 10-K |
| FY2022ended Dec 31, 2022 | $788.3M | $244.3M | $7.7B | $6.2B | $544M | Form 10-K |
| FY2021ended Dec 25, 2021 | $1B | $307.6M | $7.9B | $6.1B | $704.8M | Form 10-K |
| FY2020ended Dec 26, 2020 | $1.1B | $185.4M | $7B | $5.5B | $949.9M | Form 10-K |
| FY2019ended Dec 28, 2019 | $698.5M | $118M | $6.2B | $4.8B | $580.5M | Form 10-K |
| FY2018ended Dec 29, 2018 | $919.5M | $155.8M | $5.4B | $4.2B | $763.8M | Form 10-K |
| FY2017ended Dec 30, 2017 | $660.8M | $139.7M | $4.9B | $3.9B | $521.1M | Form 10-K |
| FY2016ended Dec 31, 2016 | $705.7M | $91M | $4.5B | $3.5B | $614.7M | Form 10-K |
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Garmin Revenue and Financial FAQ
What is Garmin Ltd.'s annual revenue and operating profit scale?
Garmin Ltd. reported revenue of $7.2 billion for fiscal year 2025, up from $6.3 billion in fiscal 2024.
What are Garmin's typical gross profit and operating margin benchmarks?
Garmin's gross margin was 58.7% in fiscal 2025 and its operating margin 25.9%. In Q2 2026 those rose to 62.4% and 30.4%.
How is Garmin's revenue distributed across its five operating segments?
FY2025 revenue by segment: Fitness $2.36B (~33%), Outdoor $2.05B (~28%), Marine $1.18B (~16%), Aviation $987M (~14%) and Auto OEM about $0.67B (~9%).
Does Garmin pay a dividend and buy back shares?
Yes. In February 2026 Garmin proposed a 17% dividend increase and announced a new $500 million share repurchase program.
Did smartphones ruin Garmin?
Almost. In the late 2000s, Garmin made massive billions selling dashboard GPS units (nuvi) for cars. When the iPhone and Google Maps launched, that entire massive business collapsed. However, Garmin survived brilliantly by aggressively pivoting their massive cash reserves into aviation, marine, and high-end wearable technology.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Garmin Revenue & Financials." CorpDigest, https://corpdigest.com/company/garmin/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Garmin reported $7.2B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/garmin/financials" target="_blank" rel="noopener">CorpDigest — Garmin financials</a></div>Related Financial Audits
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