SuperworthGarmin profit margin GRMN
Gross, operating and net profit as a share of revenue over the last twelve months, from 2009.
- Net margin, 12 months
- 24.5%
- Operating margin, 12 months
- 27.6%
- Net margin on a year earlier
- +1.3 pts
- Peer median
- 11.3%
Over the twelve months to Jun 27, 2026, Garmin kept 24.5% of its revenue as net profit, with an operating margin of 27.6% and a gross margin of 60.1%.
Five years earlier its net margin was 24.4%.
The median for 10 electronic components stocks of a similar size is 11.3%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 23.0% | 25.9% | 58.7% |
| FY2024 | 22.4% | 25.3% | 58.7% |
| FY2023 | 24.7% | 20.9% | 57.5% |
| FY2022 | 20.0% | 21.1% | 57.7% |
| FY2021 | 21.7% | 24.5% | 58.0% |
| FY2020 | 23.7% | 25.2% | 59.3% |
| FY2019 | 25.3% | 25.2% | 59.5% |
| FY2018 | 20.7% | 23.3% | 59.1% |
| FY2017 | 22.7% | 21.9% | 57.6% |
| FY2016 | 16.9% | 20.7% | 55.6% |
| FY2015 | 16.2% | 19.5% | 54.6% |
| FY2014 | 12.7% | 24.1% | 55.9% |
| FY2013 | 23.3% | 21.8% | 53.5% |
| FY2012 | 20.0% | 22.2% | 53.0% |
| FY2011 | 18.9% | 20.1% | 48.5% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 24.5% | +1.3 pts | 27.6% | |
| Q1 FY26 | 23.3% | +0.5 pts | 26.5% | |
| Q4 FY25 | 23.0% | +0.5 pts | 25.9% | |
| Q3 FY25 | 22.6% | −2.9 pts | 25.6% | |
| Q2 FY25 | 23.2% | −1.2 pts | 26.0% | |
| Q1 FY25 | 22.8% | −2.2 pts | 25.2% | |
| Q4 FY24 | 22.4% | −2.3 pts | 25.3% | |
| Q3 FY24 | 25.5% | +4.9 pts | 23.8% | |
| Q2 FY24 | 24.4% | +4.1 pts | 22.2% | |
| Q1 FY24 | 25.0% | +5.0 pts | 21.9% | |
| Q4 FY23 | 24.7% | +4.6 pts | 20.9% | |
| Q3 FY23 | 20.6% | +1.1 pts | 20.2% |
Against its peers
Companies in Hardware, Equipment & Parts nearest Garmin's size, closest first, today.
| Company | Profit margin |
|---|---|
| GRMNGarmin | 24.5% |
| KEYSKeysight Technologies | 19.1% |
| COHRCoherent | 11.3% |
| GLWCorning | 11.2% |
| CLSCelestica | 7.2% |
| TDYTeledyne Technologies | 15.3% |
| JBLJabil | 2.6% |
| FLEXFlex | 3.3% |
| FTVFortive | 12.4% |
| APHAmphenol | 17.7% |
| MKSIMKS | 10.1% |
| Peer median | 11.3% |
Where Garmin ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Garmin
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.