What does auto segments — gross profit mean?

The profit remaining from automotive sales after subtracting the direct costs of goods sold.

How do you interpret auto segments — gross profit?

An increase suggests improved manufacturing efficiencies or higher margins on automotive products, whereas a decrease may signal rising input costs or pricing pressure.

How does auto segments — gross profit compare across companies?

Comparable to segment-level gross profit margins reported by diversified technology and hardware companies.

Garmin GRMN Auto Segments — Gross Profit

Discontinued — last reported Q3 '20

Similar metrics at other companies

GPCAutomotive — Gross Profit

$1.65B+7.6%

GPCAutomotive — Gross margin

41.5%+1.0pp

RIVNAutomotive — Gross Profit

-$62M-167%

MODAutomotive — Gross Profit As Percentage Of Sales

0.1%-0.1pp

MODAutomotive — Gross Profit

$11.4M-29.6%

GPCNorth America Automotive — Gross Profit

$908.69M+4.7%

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

FCF margin19.4%+0.6pp

Returns & leverage

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Return on equity19.9%+0.9pp

Debt / equity0×0.0×

Current ratio4.4×+0.3×

Where this comes from

Reported directly by Garmin in its filing.

Tagged under the XBRL concept us-gaap:GrossProfit.

The official record: Garmin’s 10-Q, filed October 28, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does auto segments — gross profit mean?: The profit remaining from automotive sales after subtracting the direct costs of goods sold.
How do you interpret auto segments — gross profit?: An increase suggests improved manufacturing efficiencies or higher margins on automotive products, whereas a decrease may signal rising input costs or pricing pressure.
How does auto segments — gross profit compare across companies?: Comparable to segment-level gross profit margins reported by diversified technology and hardware companies.