GARMIN LTDGRMN
GARMIN LTD Financial Overview 2021–2025
Updated Jul 10, 2026Garmin's ability to drive a 33% revenue surge in its Fitness segment during FY2025 proves its wearable technology commands intense consumer loyalty in a crowded market. The company's vertically integrated manufacturing and relentless research and development investments have built a highly profitable, diversified hardware ecosystem that avoids the margin compression typical of consumer electronics.
Total net sales grew from $4.98 billion in FY2021 to a record $7.25 billion in FY2025. Profitability scaled efficiently alongside top-line expansion, with net income rising 18% to $1.66 billion in FY2025 while the company secured a 59% consolidated gross margin by Q1 2026. Beyond consumer wearables, Garmin's Auto OEM segment provided a powerful secondary growth engine by jumping 44% in FY2024. This cash-generative operational model allowed the company to amass a fortress balance sheet, ending FY2025 with $4.1 billion in total liquidity. At the close of FY2025, the market rewarded this fundamental stability, pricing the equity at $205.51 per share with a 23.9x P/E ratio, giving the business a $39.6 billion market cap.
Recent Developments (Q4 2025 and Q1 2026)
Garmin carried its momentum into Q1 2026, posting a 14% year-over-year revenue increase to $1.75 billion. The Fitness segment accelerated further, jumping 42% over the prior year. This top-line expansion generated significant operational leverage, driving operating income up 30% to $431.7 million and lifting diluted EPS to $2.09. In February 2026, the board authorized a new $500 million buyback program, later approving an annual $4.20 cash dividend with the first $1.05 payout scheduled for June 26, 2026.
Bulls champion a cash-rich enterprise holding $4.3 billion in liquidity that consistently funds both robust shareholder returns and continuous innovation. Conversely, bears caution that the Auto OEM segment still posted a $48.6 million operating loss in FY2025, dragging on overall profitability. Trading at a 29.5x P/E ratio as of April 29, 2026, the stock commands a premium $253.08 share price, leaving little room for operational missteps.
What to watch: progress toward profitability in the Auto OEM division; pace of share buybacks under the new $500 million authorization.
Rev
$7.25B
FY2025
NI
$1.66B
FY2025
EPS
$8.65
FY2025
OCF
$1.63B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
GARMIN LTD 8-K Report, Shareholder Vote Results (Jun 8, 2026)
This Form 8-K filing from Garmin Ltd. (GRMN) reports on the outcomes of its Annual General Meeting of Shareholders held on June 5, 2026. The key takeaway for investors is the overwhelming approval of all proposals presented, including the 2025 Annual Report, appropriation of earnings, and a significant cash dividend. Shareholders also re-elected the entire slate of directors and key committee members, demonstrating strong confidence in the current leadership and governance. Notably, the company announced a total cash dividend of $4.20 per share, payable in four equal installments throughout fiscal year 2026 and early 2027. The first installment of $1.05 is set for June 26, 2026. Additionally, shareholders approved compensation packages for both executive management and the Board of Directors, along with ratifying the appointment of Ernst & Young LLP as the independent registered public accounting firm.
GARMIN LTD 8-K Report, Financial Results (Apr 29, 2026)
Garmin Ltd. (GRMN) announced its financial results for the fiscal first quarter ended March 28, 2026, via a press release filed on April 29, 2026. This 8-K filing primarily serves to attach this press release, which contains the detailed operational and financial performance data. Investors should refer to the attached press release for specific metrics, including revenue, profitability, and segment performance, as this filing itself does not provide the numerical results directly but rather points to the exhibit for that information. The disclosure indicates that the information furnished is for informational purposes and is not being 'filed' in the traditional sense, meaning it does not automatically carry the same legal implications as a formally filed statement under Section 18 of the Exchange Act. Therefore, any forward-looking statements or interpretations of results within the press release are subject to the usual disclaimers and should be evaluated within that context. Investors are encouraged to review the actual press release for a comprehensive understanding of Garmin's Q1 2026 performance.
GARMIN LTD 8-K Report, Financial Results (Feb 18, 2026)
Garmin Ltd. announced its financial results for the fourth quarter and full fiscal year ended December 27, 2025, on February 18, 2026. This 8-K filing primarily serves to furnish the press release detailing these results, without being considered 'filed' for liability purposes under Section 18 of the Exchange Act unless specifically incorporated into future filings. Investors should refer to the press release (Exhibit 99.1) for the specific financial and operational details. While the 8-K itself does not contain the granular figures, the key takeaway for investors is the official release of the company's performance for the recently concluded fiscal periods. The disclosure of these results is a material event for Garmin shareholders and potential investors, impacting valuation and future strategic outlook. Further analysis would require a detailed review of the attached press release for revenue, earnings, segment performance, and forward-looking guidance.
GARMIN LTD 8-K Report, Financial Results (Oct 29, 2025)
Garmin Ltd. (GRMN) has filed an 8-K report on October 29, 2025, to announce its financial results for the fiscal third quarter ended September 27, 2025. While the report itself is brief, it serves as a notification that a press release containing the detailed financial performance has been issued and is attached as an exhibit. Investors should refer to the accompanying press release (Exhibit 99.1) for specific figures related to revenue, profitability, segment performance, and any forward-looking guidance. This filing indicates that Garmin is meeting its disclosure obligations by promptly informing the market of its quarterly financial outcomes.
GARMIN LTD 8-K Report, Financial Results (Jul 30, 2025)
Garmin Ltd. (GRMN) has filed an 8-K reporting its financial results for the fiscal second quarter ended June 28, 2025. The report primarily consists of a press release detailing the company's performance, as attached in Exhibit 99.1. Investors should refer to this press release for specific financial figures, revenue breakdowns by segment, profitability metrics, and any forward-looking guidance or commentary provided by the company. The 8-K itself serves as notification of the release of this information. While this 8-K filing does not contain extensive narrative analysis beyond the press release, the attached exhibit is the primary source for understanding Garmin's operational and financial condition during the quarter. Investors are advised to carefully review the press release for details on sales trends, earnings per share (EPS), and any significant events or strategic initiatives that may have impacted or will impact the company's financial performance. The filing also includes standard XBRL exhibits.
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