Garmin Ltd income statement GRMN

Annual Quarterly

In fiscal 2025, which ended Dec 27, 2025, Garmin Ltd reported revenue of $7.2 billion, up 15.1% from the year before. Net income was $1.7 billion, a profit margin of 23.0%. Operating income came to $1.9 billion, an operating margin of 25.9%. Diluted earnings per share were $8.59. Over the twelve months ended Sep 26, 2026, revenue was $7.9 billion and net income was $2.0 billion. Across the 10 fiscal years shown, revenue grew from $3.0 billion in fiscal 2016 to $7.2 billion in fiscal 2025, about 10.2% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

FY 2026
Sep 26, 2026
FY 2025
Dec 27, 2025
FY 2024
Dec 28, 2024
FY 2023
Dec 30, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 25, 2021
FY 2020
Dec 26, 2020
FY 2019
Dec 28, 2019
FY 2018
Dec 29, 2018
FY 2017
Dec 30, 2017
FY 2016
Dec 31, 2016
Revenue
7,887
+13.6%
7,246
+15.1%
6,297
+20.4%
5,228
+7.6%
4,860
-2.5%
4,983
+19.0%
4,187
+11.4%
3,758
+12.2%
3,347
+8.4%
3,087
+2.3%
3,019
+7.0%
Cost of revenue
3,066
+7.0%
2,989
+15.0%
2,600
+17.0%
2,223
+8.3%
2,054
-1.9%
2,092
+22.7%
1,705
+11.9%
1,524
+11.4%
1,368
+3.3%
1,324
-2.5%
1,357
+5.9%
Gross profit
4,820
+18.2%
4,256
+15.1%
3,697
+23.0%
3,005
+7.1%
2,807
-2.9%
2,890
+16.5%
2,481
+11.1%
2,234
+12.8%
1,980
+10.1%
1,798
+6.5%
1,689
+9.7%
Research and development
1,208
+10.8%
1,126
+13.3%
994
+9.8%
905
+8.4%
835
+7.2%
779
+19.4%
652
+7.8%
605
+6.6%
568
+11.0%
512
+9.3%
468
+9.6%
Selling, general and administrative
1,340
+10.7%
1,254
+13.1%
1,109
+10.0%
1,008
+6.8%
944
+30.9%
721
+15.7%
624
+20.3%
519
+8.4%
478
+9.2%
438
+6.7%
411
+4.0%
Operating expenses
2,547
+10.8%
2,380
+13.2%
2,103
+9.9%
1,913
+7.5%
1,779
—
—
—
—
—
—
Operating income
2,273
+27.8%
1,876
+17.7%
1,594
+45.9%
1,092
+6.3%
1,028
-15.7%
1,219
+15.6%
1,054
+11.5%
946
+21.5%
778
+13.9%
684
+8.0%
633
+15.2%
Interest income
145
+16.3%
129
+13.5%
114
+46.9%
77
+89.3%
41
+42.9%
29
-22.8%
37
-29.9%
53
—
—
—
Foreign currency gain (loss)
-3
+77.3%
8
+138.1%
-21
-177.9%
26
+334.5%
-11
+75.1%
-45
-1702.2%
3
+116.8%
-17
-120.6%
-8
+66.3%
-23
+28.7%
-32
-34.9%
Other non-operating income (expense)
5
-25.2%
2
-79.5%
8
+90.3%
4
-41.1%
8
+55.7%
5
-47.9%
9
+66.3%
6
—
—
—
Pretax income
2,420
+27.7%
2,015
+18.8%
1,695
+41.2%
1,200
+12.7%
1,065
-11.8%
1,207
+9.4%
1,103
+11.8%
987
+19.9%
823
+18.1%
697
+9.2%
639
+12.6%
Income tax
403
+24.2%
351
+23.5%
284
+418.1%
-89
-197.7%
91
-26.7%
125
+12.2%
111
+219.8%
35
-73.1%
129
+1182.2%
-12
-109.9%
121
+9.0%
Net income
2,017
+28.4%
1,664
+17.9%
1,411
+9.4%
1,290
+32.5%
974
-10.0%
1,082
+9.1%
992
+4.2%
952
+37.2%
694
-2.1%
709
+36.9%
518
+13.5%
Basic EPS
10.47
+28.2%
8.65
+17.7%
7.35
+9.1%
6.74
+33.2%
5.06
-10.1%
5.63
+8.5%
5.19
+3.6%
5.01
+36.1%
3.68
-2.4%
3.77
+37.6%
2.74
+14.6%
Diluted EPS
10.42
+28.5%
8.59
+17.7%
7.30
+8.8%
6.71
+33.1%
5.04
-10.2%
5.61
+8.5%
5.17
+3.6%
4.99
+36.3%
3.66
-2.7%
3.76
+37.7%
2.73
+14.2%
Weighted average shares, basic
193
+0.1%
192
+0.2%
192
+0.3%
191
-0.6%
193
+100089.4%
0
+0.6%
0
-99.9%
190
+0.7%
189
+0.4%
188
+99375.7%
0
-1.0%
Weighted average shares, diluted
194
-0.1%
194
+0.2%
193
+0.6%
192
-0.5%
193
+99899.5%
0
+0.6%
0
-99.9%
191
+0.6%
190
+0.5%
189
+99577.3%
0
-0.9%
Other measures
Depreciation and amortization
159
+3.7%
153
+8.6%
140
+6.2%
132
+11.5%
119
+14.7%
103
+32.5%
78
+8.6%
72
+11.0%
65
+8.2%
60
+7.3%
56
+8.7%
EBITDA
2,432
+25.9%
2,029
+17.0%
1,734
+41.6%
1,225
+6.8%
1,147
-13.3%
1,322
+16.8%
1,132
+11.3%
1,018
+20.7%
843
+13.4%
744
+8.0%
689
+14.6%
Margins
Gross margin
61.12%
58.74%
58.70%
57.48%
57.75%
58.01%
59.27%
59.45%
59.14%
58.24%
55.94%
Operating margin
28.82%
25.89%
25.31%
20.89%
21.15%
24.46%
25.18%
25.17%
23.25%
22.15%
20.97%
Pretax margin
30.69%
27.80%
26.92%
22.96%
21.91%
24.22%
26.36%
26.27%
24.59%
22.58%
21.16%
Profit margin
25.58%
22.96%
22.41%
24.67%
20.03%
21.72%
23.70%
25.35%
20.73%
22.97%
17.15%
EBITDA margin
30.84%
28.00%
27.55%
23.42%
23.59%
26.53%
27.05%
27.08%
25.19%
24.09%
22.81%
Effective tax rate
16.64%
17.41%
16.75%
-7.44%
8.58%
10.32%
10.07%
3.52%
15.69%
-1.71%
18.93%
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

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Company profile

Industry
Search, Detection, Navigation, Guidance, Aeronautical Sys (SIC 3812)
Listed as
GRMN (NYSE)
Fiscal year ends
December 26
Incorporated in
Switzerland
Headquarters
Schaffhausen
SEC filer status
Large accelerated filer
SEC CIK
1121788

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.