Garmin

Consumer Discretionary Consumer Electronics Schaffhausen, Switzerland Last filing Feb 18, 2026 · FY2025

                    Revenue
                    FY2025
                
$7.2B
                    3y CAGR +14.2%
                    
                    P84
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.7B
                    Net margin +23.0%
                    
                    P96
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$11.0B
                    ROA +15.1%
                    
                    P74
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    FCF margin +18.8%
                    
                    P89
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 1 year

Total assets $11.0B

Total liabilities $1.7B

Shareholders equity $9.0B

Account	2025	Trend
Assets
Cash and Cash Equivalents	31.5%
Short Term Investments	6.3%
Accounts Receivable	17.3%
Inventory	24.5%
Prepaid Expenses	6.5%
Other Current Assets	6.5%
Total Current Assets	86.2%
Property,Plant and Equipment	19.0%
Operating Lease Assets	2.7%
Goodwill	10.5%
Intangible Assets	0.0%
Deferred Tax Assets	9.9%
Other Noncurrent Assets	1.3%
Total Assets	151.7%
Liabilities
Accounts Payable	4.8%
Accrued Liabilities	3.6%
Deferred Revenue	1.5%
Operating Lease Liabilities	2.3%
Other Current Liabilities	0.0%
Total Current Liabilities	23.7%
Deferred Revenue Noncurrent	0.3%
Operating Lease Liabilities Noncurrent	2.3%
Deferred Tax Liabilities	1.5%
Other Noncurrent Liabilities	0.0%
Total Liabilities	23.7%
Equity
Common Stock	0.3%
Additional Paid In Capital	32.7%
Retained Earnings	96.2%
Treasury Stock	5.6%
Accumulated Other Comprehensive Income	0.3%
Total Stockholders Equity	123.8%
Total Liabilitiesand Equity	151.7%

Income Statement

Revenue, expense, and profitability

18 accounts · 1 year

Revenue $7.2B

Operating income $1.9B

Net income $1.7B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	41.3%
Expenses Research and Development	15.5%
Expenses Selling,General and Administrative	17.3%
Expenses Depreciation and Amortization	0.4%
Expenses Share Based Compensation	2.3%
Expenses Operating Expenses	32.9%
Other Income Expense Gross Profit	58.7%
Other Income Expense Operating Income	25.9%
Other Income Expense Other Income/expense	0.0%
Other Income Expense Income Before Tax	27.8%
Income Tax Income Tax Expense	4.8%
net Income net Income	23.0%
net Income Comprehensive Income	25.3%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	2.7%
Earnings Per Share Weighted Average Shares Diluted	2.7%

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 1 year

Operating cash flow $1.6B

Investing cash flow $-645.2M

Financing cash flow $-844.1M

Account	2025	Trend
CashFlow
Operating Activities net Income	23.0%
Operating Activities Depreciation and Amortization	0.5%
Operating Activities Stock Based Compensation	2.3%
Operating Activities Deferred Income Taxes	1.1%
Operating Activities Changes In Operating Assets and Liabilities	5.5%
Operating Activities Other Non Cash Items	1.2%
Operating Activities net Cash From Operating Activities	22.5%
Investing Activities Capital Expenditures	3.7%
Investing Activities Purchases of Investments	11.6%
Investing Activities net Cash From Investing Activities	-8.9%
Financing Activities Dividends Paid	9.2%
Financing Activities net Cash From Financing Activities	-11.6%
Cash Reconciliation Effect of Exchange Rate On Cash	31.5%
Cash Reconciliation net Change In Cash	2.7%
Cash Reconciliation Cash At Beginning of Period	31.5%
Cash Reconciliation Cash At End of Period	31.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+58.7%
Operating margin	+25.9%
Net margin	+23.0%
FCF margin	+18.8%
Growth
Revenue CAGR (3y)	+14.2%
Returns
ROE	+18.5%
ROA	+15.1%
ROIC	—
Liquidity
Current ratio	3.63x
Quick ratio	2.05x
Leverage
D/E	0.19x
Interest coverage	—
Efficiency
Asset turnover	0.66x
Cash conversion cycle	+237d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Margins, returns, liquidity, leverage, efficiency

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