Garmin annual operating margin
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2024
2025
Garmin Operating Margin Growth & History (GRMN)
Garmin's operating margin was 25.89% for fiscal 2025.
View full Garmin company overviewGarmin annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-27 | 25.89% | +0.58 pp |
| 2024 | 2024-12-28 | 25.31% | +4.42 pp |
| 2023 | 2023-12-30 | 20.89% | −0.26 pp |
| 2022 | 2022-12-31 | 21.15% | −3.31 pp |
| 2021 | 2021-12-25 | 24.46% | −0.72 pp |
| 2020 | 2020-12-26 | 25.18% | +0.02 pp |
| 2019 | 2019-12-28 | 25.17% | +1.91 pp |
| 2018 | 2018-12-29 | 23.25% | +1.35 pp |
| 2017 | 2017-12-30 | 21.90% | +1.12 pp |
| 2016 | 2016-12-31 | 20.78% | +1.29 pp |
| 2015 | 2015-12-26 | 19.49% | −4.57 pp |
| 2014 | 2014-12-27 | 24.06% | +2.25 pp |
| 2013 | 2013-12-28 | 21.81% | −0.44 pp |
| 2012 | 2012-12-29 | 22.25% | +2.17 pp |
| 2011 | 2011-12-31 | 20.07% | −3.59 pp |
| 2010 | 2010-12-25 | 23.67% | −3.01 pp |
| 2009 | 2009-12-26 | 26.68% | +2.01 pp |
| 2008 | 2008-12-27 | 24.67% | −3.86 pp |
| 2007 | 2007-12-29 | 28.53% | — |
Garmin quarterly operating margin
Q2.08
Q3.08
Q1.09
Q2.09
Q3.09
Q4.09
Q1.10
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-03-28 | 24.62% | +2.94 pp |
| Q4 2025 | 2025-12-27 | 28.90% | +0.59 pp |
| Q3 2025 | 2025-09-27 | 25.79% | −1.79 pp |
| Q2 2025 | 2025-06-28 | 26.03% | +3.33 pp |
| Q1 2025 | 2025-03-29 | 21.68% | +0.08 pp |
| Q4 2024 | 2024-12-28 | 28.32% | +5.35 pp |
| Q3 2024 | 2024-09-28 | 27.58% | +6.42 pp |
| Q2 2024 | 2024-06-29 | 22.70% | +1.17 pp |
| Q1 2024 | 2024-03-30 | 21.60% | +4.43 pp |
| Q4 2023 | 2023-12-30 | 22.96% | +2.51 pp |
| Q3 2023 | 2023-09-30 | 21.16% | +0.17 pp |
| Q2 2023 | 2023-07-01 | 21.53% | −2.06 pp |
| Q1 2023 | 2023-04-01 | 17.17% | −2.32 pp |
| Q4 2022 | 2022-12-31 | 20.45% | −2.19 pp |
| Q3 2022 | 2022-09-24 | 20.99% | −2.72 pp |
| Q2 2022 | 2022-06-25 | 23.59% | −4.38 pp |
| Q1 2022 | 2022-03-26 | 19.49% | −3.79 pp |
| Q4 2021 | 2021-12-25 | 22.64% | −4.83 pp |
| Q3 2021 | 2021-09-25 | 23.71% | −4.87 pp |
| Q2 2021 | 2021-06-26 | 27.97% | +6.32 pp |
| Q1 2021 | 2021-03-27 | 23.28% | +2.55 pp |
| Q4 2020 | 2020-12-26 | 27.47% | +2.39 pp |
| Q3 2020 | 2020-09-26 | 28.59% | +0.61 pp |
| Q2 2020 | 2020-06-27 | 21.66% | −5.18 pp |
| Q1 2020 | 2020-03-28 | 20.73% | +0.97 pp |
| Q4 2019 | 2019-12-28 | 25.09% | +1.20 pp |
| Q3 2019 | 2019-09-28 | 27.98% | +3.79 pp |
| Q2 2019 | 2019-06-29 | 26.83% | +2.52 pp |
| Q1 2019 | 2019-03-30 | 19.76% | −0.24 pp |
| Q4 2018 | 2018-12-29 | 23.89% | +3.46 pp |
| Q3 2018 | 2018-09-29 | 24.19% | +1.08 pp |
| Q2 2018 | 2018-06-30 | 24.32% | −0.89 pp |
| Q1 2018 | 2018-03-31 | 20.00% | +1.76 pp |
| Q4 2017 | 2017-12-30 | 20.43% | +1.42 pp |
| Q3 2017 | 2017-09-30 | 23.11% | +1.01 pp |
| Q2 2017 | 2017-07-01 | 25.21% | +0.49 pp |
| Q1 2017 | 2017-04-01 | 18.24% | +1.61 pp |
| Q4 2016 | 2016-12-31 | 19.01% | +0.35 pp |
| Q3 2016 | 2016-09-24 | 22.10% | +3.64 pp |
| Q2 2016 | 2016-06-25 | 24.73% | +3.19 pp |
| Q1 2016 | 2016-03-26 | 16.63% | −2.45 pp |
| Q4 2015 | 2015-12-26 | 18.66% | −3.25 pp |
| Q3 2015 | 2015-09-26 | 18.46% | −6.39 pp |
| Q2 2015 | 2015-06-27 | 21.54% | −6.59 pp |
| Q1 2015 | 2015-03-28 | 19.08% | −1.56 pp |
| Q4 2014 | 2014-12-27 | 21.91% | −0.79 pp |
| Q3 2014 | 2014-09-27 | 24.85% | +1.27 pp |
| Q2 2014 | 2014-06-28 | 28.12% | +3.73 pp |
| Q1 2014 | 2014-03-29 | 20.64% | +5.61 pp |
| Q4 2013 | 2013-12-28 | 22.70% | +3.22 pp |
| Q3 2013 | 2013-09-28 | 23.58% | −0.23 pp |
| Q2 2013 | 2013-06-29 | 24.39% | −4.02 pp |
| Q1 2013 | 2013-03-30 | 15.02% | −1.20 pp |
| Q4 2012 | 2012-12-29 | 19.49% | −2.51 pp |
| Q3 2012 | 2012-09-29 | 23.81% | +1.72 pp |
| Q2 2012 | 2012-06-30 | 28.41% | +8.89 pp |
| Q1 2012 | 2012-03-31 | 16.23% | +1.51 pp |
| Q4 2011 | 2011-12-31 | 22.00% | −0.05 pp |
| Q3 2011 | 2011-09-24 | 22.09% | −1.98 pp |
| Q2 2011 | 2011-06-25 | 19.52% | −8.20 pp |
| Q1 2011 | 2011-03-26 | 14.72% | −4.62 pp |
| Q4 2010 | 2010-12-25 | 22.04% | −5.52 pp |
| Q3 2010 | 2010-09-25 | 24.07% | −6.25 pp |
| Q2 2010 | 2010-06-26 | 27.72% | −2.04 pp |
| Q1 2010 | 2010-03-27 | 19.34% | +6.06 pp |
| Q4 2009 | 2009-12-26 | 27.56% | +2.94 pp |
| Q3 2009 | 2009-09-26 | 30.32% | +4.16 pp |
| Q2 2009 | 2009-06-27 | 29.76% | — |
| Q1 2009 | 2009-03-28 | 13.27% | — |
| Q3 2008 | 2008-09-27 | 24.63% | — |
| Q2 2008 | 2008-06-28 | 26.16% | — |
Garmin operating margin trends
Over the last five reported fiscal years, Garmin's operating margin increased from 25.18% to 25.89%, a change of +0.71 percentage points. The latest reported quarter, Q1 2026, shows 24.62%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Garmin filings at SEC.gov ↗