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Garmin GRMN Free cash flow margin

Free cash flow margin at other companies

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Raytheon TechnologiesRTX
9.4%+2.8pp
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AppleAAPL
28.6%+4.0pp
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Honeywell InternationalHON
11%-4.3pp
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Teledyne TechnologiesTDY
16.9%-1.4pp
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NikeNKE
2.3%-8.9pp
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Alphabet Inc.GOOGL

Other financials

Income statement

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Revenue$1.8B+14.2%
Gross profit$1.0B+17.8%
Operating income$431.7M+29.7%
Net income$405.1M+21.7%
EPS (diluted)$2.09+21.5%

Balance sheet

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Cash & equivalents$2.3B+5.3%
Total debt$167.6M+19.5%
Total equity$9.3B+13.3%
Total assets$11.0B+11.9%

Cash flow

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Operating cash flow$536.0M+27.4%
CapEx$66.6M+66.3%
Free cash flow$469.4M+23.3%

Valuation

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Market cap$45.17B+6.9%
Enterprise value$43.04B+7.0%
P/E26×-2.8×
P/S6.1×-0.5×

Profitability

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Gross margin59.1%+0.6pp
Operating margin26.5%+1.2pp
Net margin23.3%+0.5pp

Returns & leverage

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Return on equity19.9%+0.9pp
Debt / equity0.0×
Current ratio4.4×+0.3×

Where this comes from

Calculated from Garmin’s reported figures.

Based on trailing twelve months.

The official record: Garmin’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Garmin's free cash flow margin?
Garmin (GRMN) reported free cash flow margin of 19.4% in Q1 2026.
How has Garmin's free cash flow margin changed year-over-year?
Garmin's free cash flow margin increased by 3.0% year-over-year, from 18.9% to 19.4%.
What is the long-term trend for Garmin's free cash flow margin?
Over 5 years (2020 to 2025), Garmin's free cash flow margin has grown at a -3.7% compound annual growth rate (CAGR), from 22.7% to 18.8%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.