What is Garmin's outdoor — goodwill?

Garmin (GRMN) reported outdoor — goodwill of $182.95M in Q4 2025.

How has Garmin's outdoor — goodwill changed year-over-year?

Garmin's outdoor — goodwill increased by 3.4% year-over-year, from $177M to $182.95M.

What does outdoor — goodwill mean?

Goodwill represents the intangible asset created when the Outdoor segment acquires another business for a price higher than the fair market value of its net identifiable assets. It reflects the value of brand reputation, customer relationships, and intellectual property acquired through M&A. This asset is subject to periodic impairment testing to ensure its carrying value remains justified.

Garmin (GRMN) Outdoor — Goodwill

Screener

Other segment segments

Fitness

$382.42M+60.0%

Marine

$134.53M+5.4%

Aviation

$60.35M0.0%

Auto

$0—

Similar metrics at other companies

VFCOutdoor — Goodwill

$102.59M+0.4%

SWKTools & Outdoor — Goodwill

$6.01B-0.6%

FBINOutdoors — Goodwill

$651.1M0.0%

NWLOutdoor and Recreation — Goodwill

$0—

CWHRv And Outdoor Retail — Goodwill

$725.86M+0.5%

STZConstellationwinesandspirits — Goodwill

$5.23B+2.1%

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow$403.6M+133%

CapEx$127.8M+180%

Free cash flow$275.8M+116%

Valuation

See full

Market cap$58.35B+31.7%

Enterprise value$56.19B+32.6%

P/E31.1×+2.8×

P/S7.6×+1.1×

Profitability

See full

Gross margin60.1%+1.1pp

Operating margin27.6%+1.6pp

Net margin24.5%+1.3pp

FCF margin20.9%+4.2pp

Returns & leverage

See full

Return on equity21.9%+1.2pp

Debt / equity0×0.0×

Current ratio3×0.0×

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 item	Fitness	Outdoor	Aviation	Marine	Auto OEM	Total
Goodwill balance as of December 30, 2023	$250,380	$179,744	$60,347	$118,003	—	$608,474
Acquisitions	—	—	—	12,281	—	12,281
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
Acquisitions	117,003	—	—	2,539	—	119,542
Foreign currency translation and other adjustments	26,449	5,956	—	4,347	—	36,752
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 outdoor — goodwill?: Garmin (GRMN) reported outdoor — goodwill of $182.95M in Q4 2025.
How has Garmin's outdoor — goodwill changed year-over-year?: Garmin's outdoor — goodwill increased by 3.4% year-over-year, from $177M to $182.95M.
What does outdoor — goodwill mean?: Goodwill represents the intangible asset created when the Outdoor segment acquires another business for a price higher than the fair market value of its net identifiable assets. It reflects the value of brand reputation, customer relationships, and intellectual property acquired through M&A. This asset is subject to periodic impairment testing to ensure its carrying value remains justified.