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Garmin GRMN Operating margin

Operating margin at other companies

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8.7%-3.6pp
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11.2%+1.3pp
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33.2%+1.3pp
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1%+0.5pp
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FOS
Fossil GroupFOSL
-0.1%-0.1pp

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
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

Calculated from Garmin’s reported figures.

Based on trailing twelve months.

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

Filed
Jul 29, 2026, 7:00 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-322114

FAQ

What is Garmin's operating margin?
Garmin (GRMN) reported operating margin of 27.6% in Q2 2026.
How has Garmin's operating margin changed year-over-year?
Garmin's operating margin increased by 6.1% year-over-year, from 26% to 27.6%.
What is the long-term trend for Garmin's operating margin?
Over 5 years (2020 to 2025), Garmin's operating margin has grown at a 0.6% compound annual growth rate (CAGR), from 25.2% to 25.9%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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