What is Garmin's outdoor — goodwill acquired?

Garmin (GRMN) reported outdoor — goodwill acquired of $0 in Q4 2025.

What is the long-term trend for Garmin's outdoor — goodwill acquired?

Over 4 years (2021 to 2025), Garmin's outdoor — goodwill acquired has grown at a -100.0% compound annual growth rate (CAGR), from $14.15M to $0.

What does outdoor — goodwill acquired mean?

This tracks the specific amount of goodwill added to the Outdoor segment's balance sheet during the current reporting period due to new business acquisitions. It highlights the company's inorganic growth activity and capital deployment strategy. Tracking this helps investors understand how much of the segment's growth is driven by external expansion.

Garmin (GRMN) Outdoor — Goodwill Acquired

Screener

Other segment segments

Fitness

$117M—

Marine

$2.54M-79.3%

Auto

$0—

Aviation

$0—

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CWHRv And Outdoor Retail — Goodwill Acquired

$2.33M-86.5%

PFG

PFGCSpecialty — Goodwill Acquired

$0-100%

DJT

DJTMedia — Goodwill Acquired

$0—

AVAVAxs — Goodwill Acquired

$15.2M—

AVAVScde — Goodwill Acquired

$70.84M—

JANFintech — Goodwill Acquired

$1.59M—

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 / equity0×0.0×

Current ratio3×0.0×

Where this comes from

Reported directly by Garmin in its filing.

Tagged under the XBRL concept us-gaap:GoodwillAcquiredDuringPeriod.

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 acquired?: Garmin (GRMN) reported outdoor — goodwill acquired of $0 in Q4 2025.
What is the long-term trend for Garmin's outdoor — goodwill acquired?: Over 4 years (2021 to 2025), Garmin's outdoor — goodwill acquired has grown at a -100.0% compound annual growth rate (CAGR), from $14.15M to $0.
What does outdoor — goodwill acquired mean?: This tracks the specific amount of goodwill added to the Outdoor segment's balance sheet during the current reporting period due to new business acquisitions. It highlights the company's inorganic growth activity and capital deployment strategy. Tracking this helps investors understand how much of the segment's growth is driven by external expansion.