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Garmin GRMN Aviation — Goodwill

Other segment segments

Fitness
$382.42M+60.0%
Outdoor
$182.95M+3.4%
Marine
$134.53M+5.4%
Auto
$0

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Other financials

Income statement

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Revenue$2.0B+11.4%
Gross profit$1.3B+18.3%
Operating income$615.5M+30.3%
Net income$541.9M+35.2%
EPS (diluted)$2.80+35.3%

Balance sheet

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Cash & equivalents$2.3B+12.6%
Total debt$178.0M+19.7%
Total equity$9.0B+11.1%
Total assets$11.4B+10.7%

Cash flow

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Operating cash flow$403.6M+133%
CapEx$127.8M+180%
Free cash flow$275.8M+116%

Valuation

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Market cap$58.35B+31.7%
Enterprise value$56.19B+32.6%
P/E31.1×+2.8×
P/S7.6×+1.1×

Profitability

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Gross margin60.1%+1.1pp
Operating margin27.6%+1.6pp
Net margin24.5%+1.3pp
FCF margin20.9%+4.2pp

Returns & leverage

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Return on equity21.9%+1.2pp
Debt / equity0.0×
Current ratio0.0×

Where this comes from

Reported directly by Garmin in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Garmin’s 10-K, filed February 18, 2026.

Filed
Feb 18, 2026, 7:01 AM EST
Fiscal year
FY2025
Accession
0001193125-26-056028
Line itemFitnessOutdoorAviationMarineAuto OEMTotal
Goodwill balance as of December 30, 2023$250,380$179,744$60,347$118,003$608,474
Acquisitions12,28112,281
Foreign currency translation and other adjustments(11,417)(2,747)(2,644)(16,808)
Goodwill balance as of December 28, 2024$238,963$176,997$60,347$127,640$603,947
Acquisitions117,0032,539119,542
Foreign currency translation and other adjustments26,4495,9564,34736,752
Goodwill balance as of December 27, 2025$382,415$182,953$60,347$134,526$760,241

Item 8. Financial Statements and Supplementary Data

FAQ

What is Garmin's aviation — goodwill?
Garmin (GRMN) reported aviation — goodwill of $60.35M in Q4 2025.
How has Garmin's aviation — goodwill changed year-over-year?
Garmin's aviation — goodwill decreased by 0.0% year-over-year, from $60.35M to $60.35M.
What does aviation — goodwill mean?
This represents the intangible asset value recorded when the aviation segment acquires another business for a price exceeding the fair value of its net identifiable assets. It reflects the premium paid for brand reputation, customer base, and synergies.

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