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Garmin GRMN Outdoor — Goodwill Adjustments

Other segment segments

Fitness
$26.45M+332%
Marine
$4.35M+264%
Auto
$0
Aviation
$0

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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 us-gaap:GoodwillTranslationAndPurchaseAccountingAdjustments.

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 itemFitnessOutdoorAviationMarineAuto OEMTotal
Goodwill balance as of December 30, 2023$250,380$179,744$60,347$118,003$608,474
Acquisitions12,28112,281
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
Acquisitions117,0032,539119,542
Foreign currency translation and other adjustments26,4495,9564,34736,752
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 adjustments?
Garmin (GRMN) reported outdoor — goodwill adjustments of $1.49M in Q4 2025.
How has Garmin's outdoor — goodwill adjustments changed year-over-year?
Garmin's outdoor — goodwill adjustments increased by 316.8% year-over-year, from -$686.75K to $1.49M.
What is the long-term trend for Garmin's outdoor — goodwill adjustments?
Over 4 years (2021 to 2025), Garmin's outdoor — goodwill adjustments has grown at a 25.3% compound annual growth rate (CAGR), from -$2.42M to $5.96M.
What does outdoor — goodwill adjustments mean?
This metric captures non-operational changes to the goodwill balance, such as foreign currency translation adjustments for international acquisitions and final purchase price allocations. It accounts for the impact of exchange rate fluctuations on the value of assets held in foreign currencies. These adjustments are necessary to maintain the accuracy of the balance sheet.

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