MARKETS / NYSE / GRMN

NYSE · SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS · LARGE CAP

Garmin Ltd. GRMN

19 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$7.2B

▲ 15.1% YoY

Net income

$1.7B

▲ 17.9% YoY

Free cash flow

$1.4B

▲ 10.0% YoY

In brief

What this company does

Garmin designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communications, sensor-based and information products and services for five primary markets: fitness, outdoor, aviation, marine, and auto OEM, as well as products installed by original equipment manufacturers and for aftermarket applications. Since the inception of its business, it has delivered over 300 million products, including more than 20 million products delivered during fiscal 2025. It operates manufacturing facilities in Taiwan, the U.S., the Netherlands, the U.K., Poland, and China. As of December 27, 2025, it had approximately 23,000 full and part-time employees worldwide, of whom approximately 8,100 were in the Americas region, 11,400 were in APAC, and 3,500 were in EMEA. Within its Marine segment, it offers products and services designed for use in marine recreation applications, including chartplotters and multi-function displays.

Written from the business description in GARMIN LTD's annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.

Growth

USD 7.2B

Revenue, FY2025 · full 19-year series below

Revenue $B Net income $B

FY2025 · Revenue 7.2 · Net income 1.7

Compound annual growth

Revenue

+14.2%

+11.6%

+9.9%

+6.8%

Net income

+19.6%

+10.9%

+13.8%

+7.2%

EPS, diluted

+19.5%

Returned to shareholders

−0.8%

+8.1%

+2.7%

+1.6%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +11.6% a year over five years — but profit grew slower: net income at +10.9%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

23 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 25.9% · Net 23.0%

ROE

FY2025 · ROE 19.8%

Gross margin58.7%

Operating margin25.9%

Net margin23.0%

Return on assets16.1%

EBITDAUSD 2.0B

Each USD of equity produced 20 cents of profit this year.

Cash & shareholders

USD 663.9M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 1.4

Net buybacks $M Dividends $M

FY2025 · Dividends 663.9 · Net buybacks —

Dividends paidUSD 663.9M

Net buybacks—

Share of profit39.9%

Consecutive raises1 years (since the 2020 share-count change)

USD 663.9M in dividends — 40% of the year's profit went back to shareholders.

Total assetsUSD 11.0B

EquityUSD 9.0B

CashUSD 2.3B

Current ratio3.63×

Equity funds 82% of total assets.

The 19-year record

19 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	7.2	6.3	5.2	4.9	5.0	4.2	3.8	3.3	3.1	3.0	2.8	2.9	2.6	2.7	2.8	2.7	2.9	3.5	3.2
Operating income $B	1.9	1.6	1.1	1.0	1.2	1.1	0.9	0.8	0.7	0.6	0.5	0.7	0.6	0.6	0.6	0.6	0.8	0.9	0.9
EBITDA $B	2.0	1.7	1.2	1.1	1.3	1.1	1.0	0.8	0.7	0.7	0.6	0.7	0.6	0.7	0.6	0.7	0.8	0.9	0.9
Income tax $B	0.4	0.3	−0.1	0.1	0.1	0.1	0.0	0.1	−0.0	0.1	0.1	0.4	0.0	0.1	0.1	−0.0	0.1	0.2	0.1
Net income $B	1.7	1.4	1.3	1.0	1.1	1.0	1.0	0.7	0.7	0.5	0.5	0.4	0.6	0.5	0.5	0.6	0.7	0.7	0.9
Free cash flow $B	1.4	1.2	1.2	0.5	0.7	0.9	0.6	0.8	0.5	0.6	0.2	0.4	0.6	0.6	0.8	0.7	1.0	·	·
EPS, diluted $	8.59	7.30	6.71	5.04	5.61	5.17	4.99	3.66	3.76	2.73	2.39	1.88	3.12	2.76	2.67	2.95	3.50	3.48	3.89
Dividend / sh $	·	·	·	·	2.68	2.44	2.28	2.12	1.53	·	·	0.96	0.90	0.90	1.60	·	·	·	·
Payout %	40	41	43	70	45	45	44	43	54	93	83	99	57	47	60	51	21	21	19
ROE %	19.8	19.0	19.5	15.8	18.6	19.3	21.3	17.3	19.4	15.2	13.5	10.3	17.0	16.0	16.5	19.9	27.8	32.9	·
Shares out B	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.00	0.00	0.00	0.00	0.00	0.20	0.19	0.19	0.20	0.20	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 91 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 4 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivitySearch, Detection, Navigation, Guidance, Aeronautical Sys

Listed onNYSE

Incorporated inoutside the United States — SEC code V8

Fiscal year endsDecember 26

Data on record since2007