Garmin GRMN Business Segments
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Revenue by Business | |||||
| Auto Oem | $664.68M+8.9% | $610.62M+44.3% | $423.22M+49.1% | $283.81M+11.4% | |
| Aviation | $987.16M+12.6% | $876.61M+3.6% | $846.33M+6.8% | $792.8M+11.3% | |
| Fitness | $2.36B+32.8% | $1.77B+32.0% | $1.34B+21.2% | $1.11B-27.7% | |
| Marine | $1.18B+10.2% | $1.07B+17.0% | $916.91M+1.4% | $903.98M+3.3% | |
| Outdoor | $2.05B+4.7% | $1.96B+15.6% | $1.7B-4.1% | $1.77B+10.2% | |
| Gross Profit by Business | |||||
| Auto Oem | $111.07M+3.3% | $107.51M+9.8% | $97.94M+8.3% | $90.43M+23.3% | |
| Aviation | $741.51M+12.9% | $656.51M+4.9% | $625.99M+9.2% | $573.06M+10.2% | |
| Fitness | $1.4B+35.9% | $1.03B+44.0% | $716.91M+29.8% | $552.42M-32.1% | |
| Marine | $649.91M+9.4% | $594.13M+20.9% | $491.26M0.0% | $491.46M-0.8% | |
| Outdoor | $1.35B+3.4% | $1.31B+21.8% | $1.07B-2.4% | $1.1B+11.2% | |
| Operating Income by Business | |||||
| Auto Oem | -$48.63M-25.4% | -$38.79M+36.5% | -$61.12M+22.3% | -$78.66M+27.2% | |
| Aviation | $257.23M+21.7% | $211.37M-6.6% | $226.4M+6.2% | $213.19M+10.4% | |
| Fitness | $725.88M+50.4% | $482.67M+108% | $232.2M+122% | $104.74M-70.8% | |
| Marine | $251.25M+6.5% | $236.01M+31.5% | $179.43M-16.7% | $215.3M-13.8% | |
| Outdoor | $690.35M-1.8% | $702.73M+36.4% | $515.25M-10.1% | $573.28M+9.3% | |
| Selling General And Administrative Expense by Business | |||||
| Auto Oem | $50.41M-2.7% | $51.79M-4.9% | $54.43M+15.7% | $47.06M— | |
| Aviation | $142M+10.3% | $128.77M+11.4% | $115.57M+7.0% | $108.03M— | |
| Fitness | $459.75M+25.5% | $366.44M+14.0% | $321.56M+8.2% | $297.16M— | |
| Marine | $211.05M+6.9% | $197.5M+13.2% | $174.49M+11.0% | $157.17M— | |
| Outdoor | $390.79M+7.2% | $364.47M+6.6% | $342.05M+2.2% | $334.59M— | |
| Research And Development Expense by Business | |||||
| Auto Oem | $109.3M+15.7% | $94.51M-9.7% | $104.64M-14.3% | $122.04M— | |
| Aviation | $342.28M+8.2% | $316.37M+11.4% | $284.01M+12.8% | $251.84M— | |
| Fitness | $216.96M+18.6% | $182.9M+12.1% | $163.15M+8.4% | $150.52M— | |
| Marine | $187.61M+16.8% | $160.62M+16.9% | $137.34M+15.4% | $118.98M— | |
| Outdoor | $270.08M+12.9% | $239.21M+11.0% | $215.56M+12.5% | $191.54M— | |
| Cost of Goods Sold by Business | |||||
| Auto Oem | $553.61M+10.0% | $503.11M+54.7% | $325.29M+68.2% | $193.38M— | |
| Aviation | $245.65M+11.6% | $220.11M-0.1% | $220.34M+0.3% | $219.74M— | |
| Fitness | $954.42M+28.5% | $742.48M+18.3% | $627.73M+12.7% | $557M— | |
| Marine | $532.71M+11.2% | $479.07M+12.5% | $425.65M+3.2% | $412.53M— | |
| Outdoor | $702.83M+7.2% | $655.58M+5.0% | $624.29M-6.9% | $670.87M— | |
| Goodwill Acquired by Business | |||||
| Auto | $0— | $0— | —— | —— | |
| Aviation | $0— | $0— | —— | —— | |
| Fitness | $117M— | $0— | —— | —— | |
| Marine | $2.54M-79.3% | $12.28M-61.6% | $32.01M+336% | $7.34M— | |
| Outdoor | $0— | $0— | $0-100% | $2.52M-82.2% | |
| Goodwill Adjustments by Business | |||||
| Auto | $0— | $0— | $0— | $0+100% | |
| Aviation | $0— | $0— | $0— | $0— | |
| Fitness | $26.45M+332% | -$11.42M-288% | $6.08M+153% | -$11.57M+30.2% | |
| Marine | $4.35M+264% | -$2.64M-368% | $988K+144% | -$2.25M+16.7% | |
| Outdoor | $5.96M+317% | -$2.75M-296% | $1.4M+145% | -$3.13M-29.5% | |
| Income Tax Reconciliation Other Reconciling Items by Geography | |||||
| GB | $264K+154% | -$487K-266% | $293K— | —— | |
| IT | $70K-76.8% | $302K+473% | -$81K— | —— | |
| LU | $202K-66.2% | $597K+2.8% | $581K— | —— | |
| PL | $2.71M-51.1% | $5.55M+151% | $2.21M— | —— | |
| TW | -$3.32M-63.7% | -$2.03M-17,017% | $12K— | —— | |
| US | $2.41M-53.4% | $5.17M+3.9% | $4.98M— | —— | |
| Effective Income Tax Rate Reconciliation Other Reconciling Items Percent by Geography | |||||
| GB | 0%— | 0%— | 0%— | —— | |
| IT | 0%— | 0%— | 0%— | —— | |
| LU | 0%— | 0%— | 0%— | —— | |
| PL | 0.1%-0.2pp | 0.3%+0.1pp | 0.2%— | —— | |
| TW | -0.2%-0.1pp | -0.1%— | 0%— | —— | |
| US | 0.1%-0.2pp | 0.3%-0.1pp | 0.4%— | —— | |
| Income Tax Reconciliation Foreign Income Tax Rate Differential by Geography | |||||
| GB | $12.09M+11.1% | $10.88M+62.9% | $6.68M— | —— | |
| IT | $9.5M+53.6% | $6.18M+162% | $2.36M— | —— | |
| LU | -$25.92M-4.0% | -$24.91M-101% | -$12.41M— | —— | |
| TW | $27.71M-1.8% | $28.23M+25.1% | $22.56M— | —— | |
| US | $31.67M+74.7% | $18.13M+170% | -$25.81M— | —— | |
| Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential by Geography | |||||
| GB | 0.6%0.0pp | 0.6%0.0pp | 0.6%— | —— | |
| IT | 0.5%+0.1pp | 0.4%+0.2pp | 0.2%— | —— | |
| LU | -1.3%+0.2pp | -1.5%-0.5pp | -1%— | —— | |
| TW | 1.4%-0.3pp | 1.7%-0.2pp | 1.9%— | —— | |
| US | 1.6%+0.5pp | 1.1%+3.2pp | -2.1%— | —— | |
| Income Tax Paid Foreign After Refund Received by Geography | |||||
| GB | $21.18M+49.2% | $14.19M— | —— | —— | |
| TW | $66.41M+20.4% | $55.14M— | —— | —— | |
| US | $149.7M+16.2% | $128.86M— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Garmin break its business down?
- Garmin (GRMN) reports revenue by business across 5 parts — Auto Oem, Aviation, Fitness, Marine and Outdoor. Each is extracted from the segment footnotes and tracked over time.
- Where does Garmin's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Garmin's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
