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Garmin GRMN Outdoor — Research And Development Expense

Other segment segments

Aviation
$91.29M+7.2%
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$64.36M+22.1%
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$51.09M+8.9%
Auto Oem
$23M-7.7%

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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:ResearchAndDevelopmentExpense.

The source filing: Garmin’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 7:00 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-322114
13-Weeks Ended June 27, 2026FitnessOutdoorAviationMarineAuto OEMTotal
Net sales$756,823$482,740$268,749$341,369$172,411$2,022,092
Cost of goods sold276,100150,42166,778132,405134,366760,070
Gross profit480,723332,319201,971208,96438,0451,262,022
Research and development expense64,36174,19891,29051,08923,002303,940
Selling, general and administrative expenses139,32394,53838,51558,02712,171342,574
Operating income (loss)$277,039$163,583$72,166$99,848$2,872$615,508
13-Weeks Ended June 28, 2025
Net sales$605,425$490,357$249,366$299,262$170,154$1,814,564

Item 1 - Condensed Consolidated Financial Statements

FAQ

What is Garmin's outdoor — research and development expense?
Garmin (GRMN) reported outdoor — research and development expense of $74.2M in Q2 2026.
How has Garmin's outdoor — research and development expense changed year-over-year?
Garmin's outdoor — research and development expense increased by 10.7% year-over-year, from $67M to $74.2M.
What is the long-term trend for Garmin's outdoor — research and development expense?
Over 3 years (2022 to 2025), Garmin's outdoor — research and development expense has grown at a 12.1% compound annual growth rate (CAGR), from $191.54M to $270.08M.
What does outdoor — research and development expense mean?
This represents the expenditures dedicated to the innovation, design, and development of new products and software features within the Outdoor segment. It reflects the company's commitment to maintaining a competitive edge through technological advancement. High levels of investment here are typically necessary to sustain long-term growth in specialized consumer electronics.

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