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Garmin GRMN Total Cost of Revenue

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Segments

By segment

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Fitness$276.1M+14.7%
Outdoor$150.42M-9.3%
Auto Oem$134.37M-5.4%
Marine$132.41M-1.9%
Aviation$66.78M+4.5%

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
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:CostOfGoodsAndServicesSold.

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
13-Weeks Ended26-Weeks Ended
June 27,2026June 28,2025June 27,2026June 28,2025
Net sales$$$2,022,0921,814,564$$$3,775,5823,349,663
Cost of goods sold760,070747,5521,471,2721,398,106
Gross profit1,262,0221,067,0122,304,3101,951,557
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

Item 1 - Condensed Consolidated Financial Statements

FAQ

What is Garmin's total cost of revenue?
Garmin (GRMN) reported total cost of revenue of $760.07M in Q2 2026.
How has Garmin's total cost of revenue changed year-over-year?
Garmin's total cost of revenue increased by 1.7% year-over-year, from $747.55M to $760.07M.
What is the long-term trend for Garmin's total cost of revenue?
Over 4 years (2021 to 2025), Garmin's total cost of revenue has grown at a 9.3% compound annual growth rate (CAGR), from $2.09B to $2.99B.
What does total cost of revenue mean?
The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.

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