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Garmin GRMN Marine — Goodwill Adjustments

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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:GoodwillTranslationAndPurchaseAccountingAdjustments.

The official record: Garmin’s 10-K, filed February 18, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Garmin's marine — goodwill adjustments?
Garmin (GRMN) reported marine — goodwill adjustments of $1.09M in Q4 2025.
How has Garmin's marine — goodwill adjustments changed year-over-year?
Garmin's marine — goodwill adjustments increased by 264.4% year-over-year, from -$661K to $1.09M.
What is the long-term trend for Garmin's marine — goodwill adjustments?
Over 4 years (2021 to 2025), Garmin's marine — goodwill adjustments has grown at a 12.7% compound annual growth rate (CAGR), from -$2.7M to $4.35M.
What does marine — goodwill adjustments mean?
Adjustments to goodwill value due to currency changes or accounting refinements for past acquisitions.
How do you interpret marine — goodwill adjustments?
Large adjustments may indicate significant currency exposure or volatility in the valuation of past acquisitions.
How does marine — goodwill adjustments compare across companies?
Standard accounting adjustment; common for multinational companies with international acquisitions.