Garmin Ltd. (GRMN) Net Income
The annual net income for Garmin Ltd. (GRMN) is $1.74 Billion with a year-over-year change of +18.25%. Net income represents the company's bottom line profit after all expenses, taxes, and interest.
Annual Net Income (TTM)
$1.74B
$1.74 Billion
Year-over-Year Change
+18.25%
vs. $1.41B prior year
Net Income CAGR
+10.55%
5 Year compound annual growth rate
Net Income CAGR (Compound Annual Growth Rate)
1 Year
+18.25%
3 Year
+19.55%
5 Year
+10.55%
10 Year
+13.77%
15 Year
+6.85%
20 Year
+8.86%
CAGR shows the annualized growth rate over the specified period, smoothing out year-to-year volatility.
Annual Net Income History
| Year | Net Income | YoY Change | % Change |
|---|---|---|---|
| 2025 | $1.66B | +$252.45M | +17.89% |
| 2024 | $1.41B | +$121.80M | +9.44% |
| 2023 | $1.29B | +$316.05M | +32.46% |
| 2022 | $973.59M | ($108.61M) | (10.04%) |
| 2021 | $1.08B | +$89.88M | +9.06% |
| 2020 | $992.32M | +$39.84M | +4.18% |
| 2019 | $952.49M | +$258.41M | +37.23% |
| 2018 | $694.08M | ($875,000) | (0.13%) |
| 2017 | $694.96M | +$184.14M | +36.05% |
| 2016 | $510.81M | +$54.59M | +11.96% |
Net Income Growth Summary
TTM Growth
+18.25%
3-Year Avg Growth
+19.55%
5-Year Avg Growth
+10.55%
About Garmin Ltd.
Garmin Ltd. specializes in the design, development, manufacturing, marketing, and global distribution of diverse wireless products and solutions. Its operations span across North and South America, the Asia Pacific region, the Australian Continent, Europe, the Middle East, and Africa. The company's offerings are organized into several key segments: Fitness: This division caters to athletes and active individuals with products like specialized running and multi-sport watches, cycling computers, activity trackers, smartwatches, and various fitness-related accessories. Additionally, it supports these offerings with its Garmin Connect web and mobile platforms, alongside Connect IQ, an ecosystem for app development. Outdoor: Garmin's Outdoor category features rugged adventure watches, portable GPS devices, golf-specific instruments and accompanying mobile applications, plus specialized dog tracking and training systems. Aviation: The Aviation sector delivers comprehensive avionics solutions for aircraft, encompassing integrated cockpit systems, advanced flight displays and instrumentation, navigation and communication tools, automated flight controls, safety enhancements, audio management, engine monitoring, traffic and weather avoidance systems, ADS-B transponders, data connectivity, portable GPS navigators, wearable aviation devices, and related support services. Marine: For the Marine market, Garmin provides a suite of solutions including chartplotters, multi-function displays, marine cartography, fish finders, sonar technology, autopilots, radar systems, compliant instrumentation and sensors, VHF radios, handheld and wearable marine devices, sailing-specific products, onboard entertainment, digital switching, and electric trolling motors. Auto: The Automotive segment focuses on in-vehicle computing and infotainment systems, personal navigation units, and various camera solutions. Garmin's products are distributed through a diverse network including independent and online retailers, authorized dealers, distributors, service and installation centers, original equipment manufacturers (OEMs), and directly via its official e-commerce platform, garmin.com. Established in 1989, Garmin Ltd. maintains its corporate headquarters in Schaffhausen, Switzerland.
- Sector
- Technology
- Industry
- Hardware, Equipment & Parts
- CEO
- Clifton Albert Pemble