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Garmin GRMN Q2 2025 earnings

Reported July 30, 2025 · Before market open

Revenue$1.8BBeat by $113.8M
EPS$2.17Beat by $0.27
Revenue estimate$1.7B
EPS estimate$1.90

Next report

Oct 28, 2026 (In 3 weeks)
Revenue estimate$2.0B
EPS estimate$2.39

Financials

Q2 2025

Income statement

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Revenue$1.8B+20.4%
Gross profit$1.1B+23.7%
Operating income$472.3M+38.1%
Net income$400.8M+33.3%
EPS (diluted)$2.07+32.7%

Balance sheet

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Cash & equivalents$2.1B+7.0%
Total debt$148.6M+45.5%
Total equity$8.1B+16.0%
Total assets$10.3B+16.2%

Cash flow

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Operating cash flow$173.2M-32.2%
CapEx$45.7M+22.9%
Free cash flow$127.5M-41.6%

Valuation & ratios

Valuation

as of 06/28/25
See full
Market cap$39.49B+26.2%
Enterprise value$37.56B+27.5%
P/E25.2×+2.4×
P/S5.8×+0.3×

Profitability

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Gross margin58.9%+1.3pp
Operating margin26%+3.9pp
Net margin23.2%-1.2pp
FCF margin16.7%-7.2pp

Returns & leverage

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Return on equity20.7%-0.2pp
Debt / equity0×0.0×
Current ratio3×+0.1×

Segments

By segment

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Fitness$605.4M+41.3%
Outdoor$490.4M+11.5%
Marine$299.3M+9.6%
Aviation$249.4M+14.3%
Auto Oem$170.2M+15.6%

By geography

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Americas$878.0M+18.6%
EMEA$677.4M+25.0%
Asia Pacific$259.1M+15.7%

FAQ

When did Garmin report Q2 2025 earnings?
Garmin (GRMN) reported Q2 2025 earnings on July 30, 2025 before market open.
What were Garmin's Q2 2025 revenue and EPS?
Garmin reported revenue of $1.8B and eps of $2.17 for Q2 2025.
Did Garmin beat estimates in Q2 2025?
Revenue beat the consensus estimate of $1.7B by $113.8M. EPS beat the consensus estimate of $1.90 by $0.27.
How did Garmin's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 20.4% from $1.5B a year earlier and eps grew 37.3% from $1.58.
Where can I find Garmin's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000950170-25-099874) and the 10-Q periodic report (0000950170-25-099877) directly on SEC EDGAR. The filing index links above go to sec.gov.