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Garmin GRMN Operating Lease Liabilities

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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$58.22B+31.4%
Enterprise value$56.06B+32.3%
P/E31×+2.8×
P/S7.6×+1.0×

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:OperatingLeaseLiabilityNoncurrent.

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
Line itemJune 27,2026December 27,2025
Deferred income tax liabilities107,365109,701
Noncurrent income taxes payable3,7543,596
Noncurrent deferred revenue22,07222,277
Noncurrent operating lease liabilities177,957164,835
Other noncurrent liabilities557625
Stockholders’ equity:
Common shares, $0.10 par value (194,901 and 194,901 shares authorized and issued; 192,910 and 192,620 shares outstanding)19,49019,490
Additional paid-in capital2,381,0412,368,670

Item 1 - Condensed Consolidated Financial Statements

FAQ

What is Garmin's operating lease liabilities?
Garmin (GRMN) reported operating lease liabilities of $177.96M in Q2 2026.
How has Garmin's operating lease liabilities changed year-over-year?
Garmin's operating lease liabilities increased by 19.7% year-over-year, from $148.61M to $177.96M.
What is the long-term trend for Garmin's operating lease liabilities?
Over 5 years (2020 to 2025), Garmin's operating lease liabilities has grown at a 16.8% compound annual growth rate (CAGR), from $75.96M to $164.84M.
What does operating lease liabilities mean?
Long-term portion of operating lease obligations extending beyond one year, representing committed future rent payments.

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