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Garmin GRMN EMEA — Net Sales To External Customers

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CAPLFuel Sales To External Customers — Revenue (Gross)
$1.05B+26.4%

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 grmn:NetSalesToExternalCustomers.

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
December 27, 2025AmericasEMEAAPACTotal
Net sales to external customers (1)$3,453,936$2,741,580$1,050,003$7,245,519
Property and equipment, net799,235174,736401,3771,375,348
Net assets (2)5,610,8681,724,6991,636,9978,972,564
December 28, 2024
Net sales to external customers (1)$3,036,083$2,319,310$941,510$6,296,903
Property and equipment, net756,633137,283342,9681,236,884
Net assets (2)5,173,1171,347,5201,327,7617,848,398
December 30, 2023

Item 8. Financial Statements and Supplementary Data

FAQ

What is Garmin's EMEA — net sales to external customers?
Garmin (GRMN) reported EMEA — net sales to external customers of $2.74B in Q4 2025.
What does EMEA — net sales to external customers mean?
This metric measures the total net sales made to third-party customers within the EMEA region, excluding inter-segment transfers or internal sales. It reflects the company's ability to successfully monetize its product portfolio through external distribution channels and direct-to-consumer relationships in this specific geography. This figure is essential for assessing the external market's contribution to the company's total top-line performance.

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