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Garmin GRMN Outdoor — Research And Development Expense

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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 / equity0×0.0×
Current ratio4.4×+0.3×

Where this comes from

Reported directly by Garmin in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Garmin’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Garmin's outdoor — research and development expense?
Garmin (GRMN) reported outdoor — research and development expense of $70.3M in Q1 2026.
How has Garmin's outdoor — research and development expense changed year-over-year?
Garmin's outdoor — research and development expense increased by 11.5% year-over-year, from $63.06M to $70.3M.
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?
The amount spent on developing new products and improving existing technology within the Outdoor segment.
How do you interpret outdoor — research and development expense?
Increased spending signals a focus on future product pipelines, while sustained high levels relative to revenue indicate a commitment to innovation.
How does outdoor — research and development expense compare across companies?
Standard R&D expense metric used to benchmark innovation intensity against technology peers.