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Garmin GRMN Fitness Segments — Operating Income

Discontinued — last reported Q3 '20

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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×
Current ratio4.4×+0.3×

Where this comes from

Reported directly by Garmin in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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

Questions, answered.

What does fitness segments — operating income mean?
This metric represents the operating profitability of the fitness segment after accounting for both the cost of goods sold and all segment-specific operating expenses, such as research and development, marketing, and administrative costs. It reflects the overall operational efficiency and the ability of the fitness business to generate sustainable earnings from its core activities. It excludes interest, taxes, and corporate-level overhead allocations.