GARMIN LTD

Listed Company

GRMNCIK 0001121788NYSELarge AcceleratedSearch, Detection, Navigation, Guidance, Aeronautical SysV8FY ends Dec 26

Period

FY 2025

Revenue

$7.25B

Net Income

$1.66B

Total Assets

$10.99B

Equity

$8.97B

Shares Out

192.86M

Op. Cash Flow

$1.63B

GRMN$249.67+10.80% · past yearDBEQ Basic

Daily closing prices

Business

Garmin Ltd. designs, develops, manufactures, markets, and distributes GPS-enabled products and navigation, communications, sensor-based, and information products and services for five primary markets: fitness, outdoor, aviation, marine, and auto OEM. The company offers consumer wearables, sports watches, outdoor handhelds, aviation avionics, marine chartplotters and fishfinders, and automotive domain controllers and infotainment systems. Garmin distributes through a global network of independent retailers, dealers, distributors, OEMs, and direct channels including its online webshop and retail stores.

Summary from 10-K filed 2026-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	7,246	6,297	5,228	4,860	4,983
Cost of goods sold	2,989	2,600	2,223	2,054	2,092
Gross profit	4,256	3,697	3,005	2,807	2,890
Research and development expense	1,126	994	905	835	779
Selling, general and administrative expenses	1,254	1,109	1,008	944	721
Total operating expense	2,380	2,103	1,913	1,779	1,672
Operating income	1,876	1,594	1,092	1,028	1,219
Interest income	129	114	77	41	29
Foreign currency gains (losses)	8	−21	26	−11	−45
Other income	2	8	4	8	5
Total other income (expense)	138	101	108	37	−12
Income before income taxes	2,015	1,695	1,200	1,065	1,207
Current	268	374	250	234	130
Deferred	83	−90	−340	−142	−5
Total income tax provision (benefit)	351	284	−89	91	125
Net income	1,664	1,411	1,290	974	1,082
Basic net income per share	8.65	7.35	6.74	5.06	5.63
Diluted net income per share	8.59	7.3	6.71	5.04	5.61

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2,279	2,079	1,693	1,279	1,498
Marketable securities	459	421	275	173	348
Accounts receivable, less allowance for doubtful accounts of $9,191 in 2025 and $8,644 in 2024	1,253	983	815	657	843
Inventories	1,772	1,474	1,346	1,515	1,228
Deferred costs	18	24	16	15	16
Prepaid expenses and other current assets	468	354	319	316	329
Total current assets	6,248	5,336	4,464	3,955	4,262
Property and equipment, net	1,375	1,237	1,224	1,147	1,067
Operating lease right-of-use assets	196	165	144	138	89
Noncurrent marketable securities	1,397	1,198	1,125	1,208	1,269
Deferred income tax assets	718	823	755	441	260
Noncurrent deferred costs	4	7	11	10	12
Goodwill	760	604	608	568	575
Other intangible assets, net	198	154	181	178	216
Other noncurrent assets	96	107	91	85	103
Total assets	10,994	9,631	8,604	7,731	7,854
Accounts payable	347	359	254	212	370
Salaries and benefits payable	228	211	190	176	211
Accrued warranty costs	73	62	56	51	45
Accrued sales program costs	153	108	99	98	122
Other accrued expenses	258	217	246	197	226
Deferred revenue	106	111	101	91	88
Income taxes payable	382	295	225	246	128
Dividend payable	173	144	140	140	258
Total current liabilities	1,720	1,508	1,311	1,212	1,448
Deferred income tax liabilities	110	103	115	130	118
Noncurrent income taxes payable	4	7	17	35	63
Noncurrent deferred revenue	22	28	36	36	42
Noncurrent operating lease liabilities	165	135	113	115	70
Other noncurrent liabilities	625,000	776,000	436,000	360,000	324,000
Common shares, $0.10 par value (194,901 and 194,901 shares authorized and issued;192,620 and 192,468 shares outstanding)	19	19	20	18	18
Additional paid-in capital	2,369	2,247	2,125	2,042	1,961
Treasury shares (2,281 and 2,433 shares)	−406	−271	−331	−475	−303
Retained earnings	6,970	5,999	5,264	4,734	4,321
Accumulated other comprehensive income (loss)	21	−147	−66	−115	118
Total stockholders equity	8,973	7,848	7,012	6,204	6,114
Total liabilities and stockholders equity	10,994	9,631	8,604	7,731	7,854

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	1,664	1,411	1,290	974	1,082
Depreciation	153	140	132	119	103
Amortization	36	39	45	45	51
Loss (gain) on sale or disposal of property and equipment	881,000	−5	215,000	−2	298,000
Unrealized foreign currency (gains) losses	−36	27	−26	−6	36
Deferred income taxes	83	−88	−341	−143	−5
Stock compensation expense	166	137	101	77	93
Realized gains on marketable securities	899,000	8,000	62,000	986,000	−622,000
Accounts receivable, net of allowance for doubtful accounts	−223	−196	−129	167	−19
Inventories	−218	−179	245	−363	−476
Other current and noncurrent assets	2	−42	8	72	−38
Accounts payable	−31	121	29	−131	109
Other current and noncurrent liabilities	85	25	52	−72	70
Deferred revenue	−12	2	10	−2	−7
Deferred costs	9	−4	−3	4	8
Income Taxes	−46	44	−38	50	6
Net cash provided by operating activities	1,633	1,432	1,376	788	1,012
Purchases of property and equipment	−270	−194	−194	−244	−308
Purchase of marketable securities	−840	−508	−171	−1,052	−1,509
Redemption of marketable securities	640	309	183	1,164	1,363
Acquisitions, net of cash acquired	−176	−16	−151	−13	—
Other investing activities, net	322,000	15	−1	495,000	—
Net cash used in investing activities	−645	−393	−333	−145	−475
Dividends	−664	−572	−559	−679	−491
Proceeds from issuance of treasury shares related to equity awards	58	50	44	62	36
Purchase of treasury shares related to equity awards	−57	−42	−23	−23	−31
Purchase of treasury shares under share repurchase plan	−181	−62	−99	−201	0
Net cash used in financing activities	−844	−627	−637	−841	−487
Effect of exchange rate changes on cash and cash equivalents	55	−26	7	−21	−10
Net increase in cash, cash equivalents, and restricted cash	199	386	414	−219	40
Decrease in accrued capital expenditures related to purchases of property and equipment	−2	−3	−634,000	−4	10
Change in marketable securities related to unrealized appreciation	43	31	46	−107	−33
Fair value of assets acquired	214	28	189	15	21
Fair value of liabilities assumed	−33	−5	−37	−2	−764,000
Less: cash acquired	−6	−6	−1	−261,000	−17,000
Cash paid for acquisitions, net of cash acquired	176	16	151	13	20

Filings

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Frequently asked questions

What is GARMIN LTD's CIK number?

GARMIN LTD's SEC CIK number is 0001121788 (1121788). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find GARMIN LTD's SEC filings?

All of GARMIN LTD's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did GARMIN LTD last report earnings?

GARMIN LTD (GRMN) most recently filed an earnings 8-K with the SEC on Apr 29, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-188907). This is GARMIN LTD's most recent earnings filing of record — not a forecast of its next earnings date.

What is GARMIN LTD's most recent earnings 8-K?

GARMIN LTD's latest earnings 8-K (Item 2.02) was filed Apr 29, 2026 under accession 0001193125-26-188907. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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