Garmin Ltd. (GRMN) Financial Statements (2026 and earlier)

Company Profile

Business Address MUHLENTALSTRASSE 36/38
SCHAFFHAUSEN, 8200
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 3812 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical Systems and Instruments (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

3/31/2026
MRQ
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,7382,5011,9681,4521,8461,846
Cash and cash equivalent2,2792,0791,6931,2791,4981,458
Short-term investments459421275173348388
Receivables1,253983815657843849
Inventory, net of allowances, customer advances and progress billings1,7721,4741,3461,5151,228762
Inventory1,7721,4741,3461,5151,228762
Deferred costs182416151620
Other undisclosed current assets468354319316329192
Total current assets:6,2485,3364,4643,9554,2623,669
Noncurrent Assets
Operating lease, right-of-use asset1961651441388995
Property, plant, and equipment, after accumulated depreciation, depletion, and amortization1,3751,2371,2241,1471,067856
Long-term investments and receivables1,3971,1981,1251,2081,2691,131
Long-term investments1,3971,1981,1251,2081,2691,131
Intangible asset, including goodwill, after accumulated amortization, including:959758795746791829
Goodwill760604608568575584
Intangible asset, excluding goodwill, after accumulated amortization198154187178216244
Other undisclosed intangible asset, including goodwill, after accumulated amortization     (0)(0)
Restricted cash and investments      0
Deferred costs4711101217
Deferred income tax assets718823755441260245
Other noncurrent assets961078685103190
Total noncurrent assets:4,7454,2944,1393,7763,5933,362
TOTAL ASSETS:10,9949,6318,6047,7317,8547,031
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,6141,3971,2091,1211,3601,077
Interest and dividends payable✕✕✕✕✕258234
Taxes payable✕✕✕✕✕12869
Employee-related liabilities✕✕✕✕✕211182
Accounts payable347359254212370259
Accrued liabilities1,2671,037956908393334
Deferred revenue106111101918887
Total current liabilities:1,7201,5081,3111,2121,4481,164
Noncurrent Liabilities
Long-term debt and lease obligation:     7076
Liabilities, other than long-term debt301274281315222275
Accounts payable and accrued liabilities4717356393
Deferred revenue222836364250
Deferred income tax liabilities110103115130118117
Other liabilities1100015
Operating lease, liability1651351131157076
Total noncurrent liabilities:301274281315292351
Total liabilities:2,0211,7821,5921,5271,7401,515
Equity
Equity, attributable to parent8,9737,8487,0126,2046,1145,516
Common stock191920181818
Treasury stock, value(406)(271)(331)(475)(303)(320)
Additional paid in capital2,3692,2472,1252,0421,9611,880
Accumulated other comprehensive income (loss)21(147)(66)(115)118183
Retained earnings6,9705,9995,2644,7344,3213,754
Total equity:8,9737,8487,0126,2046,1145,516
TOTAL LIABILITIES AND EQUITY:10,9949,6318,6047,7317,8547,031

Income Statement (P&L) ($ in millions)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues7,2466,2975,2284,8604,9834,187
Cost of revenue
(Cost of Product and Service Sold)		(2,989)(2,600)(2,223)(2,054)(2,092)(1,705)
Gross profit:4,2563,6973,0052,8072,8902,481
Operating expenses(2,380)(2,103)(1,913)(1,779)(1,672)(1,427)
Operating income:1,8761,5941,0921,0281,2191,054
Nonoperating income (expense)13810110837(12)49
Gain (loss), foreign currency transaction, before tax8(21)26(11)(45)3
Other nonoperating income284859
Income from continuing operations before income taxes:2,0151,6951,2001,0651,2071,103
Income tax expense (benefit)(351)(284)89(91)(125)(111)
Income from continuing operations:1,6641,4111,2909741,082992
Income before gain (loss) on sale of properties:✕✕✕✕✕1,082992
Net income available to common stockholders, diluted:1,6641,4111,2909741,082992

Comprehensive Income ($ in millions)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income:1,6641,4111,2909741,082992
Other comprehensive income (loss)(11)(8)(11)(25)(6)128
Comprehensive income:1,6531,4041,2799491,0761,120
Other undisclosed comprehensive income (loss), net of tax, attributable to parent178(74)60(208)(59) 
Comprehensive income, net of tax, attributable to parent:1,8321,3301,3397411,0171,120

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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