GARMIN LTD Earnings Per Share Disclosure
3. Earnings Per Share
The following table sets forth the computation of basic and diluted net income per share. Stock options, stock appreciation rights, and restricted stock units are collectively referred to as "equity awards". There were no anti-dilutive equity awards excluded from the calculation of diluted net income per share for the periods presented below.
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Fiscal Year Ended |
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December 27, 2025 |
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December 28, 2024 |
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December 30, 2023 |
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Numerator: |
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Numerator for basic and diluted net income per share - net income |
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$ |
1,663,887 |
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$ |
1,411,436 |
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$ |
1,289,636 |
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Denominator (in thousands): |
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Denominator for basic net income per share – weighted-average common shares |
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192,467 |
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192,060 |
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191,397 |
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Effect of dilutive equity awards |
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1,149 |
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1,221 |
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661 |
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Denominator for diluted net income per share – adjusted weighted-average common shares |
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193,616 |
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193,281 |
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192,058 |
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Basic net income per share |
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$ |
8.65 |
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$ |
7.35 |
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$ |
6.74 |
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Diluted net income per share |
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$ |
8.59 |
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$ |
7.30 |
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$ |
6.71 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 17, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 20, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 17, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.