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Garmin GRMN Operating Income

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Segments

By segment

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Fitness$277.04M+40.2%
Outdoor$163.58M+3.6%
Marine$99.85M+58.7%
Aviation$72.17M+13.9%
Auto Oem$2.87M+130%

Other financials

Income statement

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Revenue$2.0B+11.4%
Gross profit$1.3B+18.3%
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:OperatingIncomeLoss.

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
Research and development expense303,940276,663599,758544,783
Selling, general and administrative expenses342,574318,054657,379601,655
Total operating expense646,514594,7171,257,1371,146,438
Operating income615,508472,2951,047,173805,119
Other income (expense):
Interest income38,17331,72474,14762,231
Foreign currency (losses) gains(2,492)(23,512)6301,248
Other (expense) income(128)(256)1,640730

Item 1 - Condensed Consolidated Financial Statements

FAQ

What is Garmin's operating income?
Garmin (GRMN) reported operating income of $615.51M in Q2 2026.
How has Garmin's operating income changed year-over-year?
Garmin's operating income increased by 30.3% year-over-year, from $472.3M to $615.51M.
What is the long-term trend for Garmin's operating income?
Over 4 years (2021 to 2025), Garmin's operating income has grown at a 11.4% compound annual growth rate (CAGR), from $1.22B to $1.88B.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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