--- title: "Garmin: Metrics Guide" description: "Garmin revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/garmin/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Garmin: Financial & Operating Metrics Guide ## Direct Answer Garmin reported revenue of $7.2 billion for the fiscal year ended December 27, 2025, with an operating margin of 25.9% and net income of $1.7 billion, according to its SEC filings. Revenue grew 15.1% from the prior year. ## What Are Garmin's Key Financial Figures? | Fiscal year | FY2025ended December 27, 2025 | FY2024ended December 28, 2024 | FY2023ended December 30, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $7.2 billion | $6.3 billion | $5.2 billion | $4.9 billion | | Operating income | $1.9 billion | $1.6 billion | $1.1 billion | $1.0 billion | | Operating margin | 25.9% | 25.3% | 20.9% | 21.1% | | Net income | $1.7 billion | $1.4 billion | $1.3 billion | $974 million | | Net margin | 23.0% | 22.4% | 24.7% | 20.0% | | Operating cash flow | $1.6 billion | $1.4 billion | $1.4 billion | $788 million | | Capital expenditures | $270 million | $194 million | $194 million | $244 million | | Free cash flow | $1.4 billion | $1.2 billion | $1.2 billion | $544 million | Operating margin widened by 0.6 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $1.4 billion against net income of $1.7 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of Garmin revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $7.2 billion, operating income $1.9 billion and net income $1.7 billion.](https://www.getswoopr.com/images/charts/garmin-metrics-revenue-profit.webp) *Garmin revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Garmin operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 25.9% and net margin was 23.0%.](https://www.getswoopr.com/images/charts/garmin-metrics-margins.webp) *Garmin operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Garmin operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $1.6 billion, capital expenditures was $270 million, free cash flow was $1.4 billion.](https://www.getswoopr.com/images/charts/garmin-metrics-cash-flow.webp) *Garmin operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Garmin's Balance Sheet Show? | Cash and cash equivalents | $2.3 billion | | --- | --- | | Long-term debt | Not reported | | Total assets | $11.0 billion | | Total liabilities | Not reported | | Shareholders' equity | $9.0 billion | | Current ratio | 3.6x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Garmin reported in its own SEC filings, read from the SEC's XBRL data (accession 0001193125-26-056028 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Garmin's revenue in fiscal 2025? Garmin reported revenue of $7.2 billion for the fiscal year ended December 27, 2025, according to its SEC filings. ### What is Garmin's operating margin? Garmin's operating margin was 25.9% in fiscal 2025: operating income of $1.9 billion on revenue of $7.2 billion. ### How much free cash flow did Garmin generate? Operating cash flow of $1.6 billion less capital expenditures of $270 million gives free cash flow of $1.4 billion for fiscal 2025. ## References - [SEC EDGAR: GARMIN LTD Form 10-K filed February 18, 2026](https://www.sec.gov/Archives/edgar/data/1121788/000119312526056028/grmn-20251227.htm) - [SEC EDGAR: GARMIN LTD annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1121788&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Garmin company dossier](https://www.getswoopr.com/stocks/companies/garmin/) - [Garmin financial metrics](https://www.getswoopr.com/stocks/companies/garmin/metrics/) - [Garmin financial risk indicators](https://www.getswoopr.com/stocks/companies/garmin/risks/) - [Garmin peer comparison](https://www.getswoopr.com/stocks/companies/garmin/competitors/) - [Garmin business model and revenue mix](https://www.getswoopr.com/stocks/companies/garmin/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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