GARMIN LTD

GRMN 10-Q ยท Q3 2025
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GRMN Q3 2025 request

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Income Statement

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Income Statement
Metric Q3 2025 Q3 2024 YoY
Revenue 1,770,901 1,586,022 +11.7%
Show Business Segments breakouts
Auto OEM Segment [Member] 164,840 168,709 -2.3%
Aviation Segment [Member] 240,445 204,631 +17.5%
Fitness Segment [Member] 601,013 463,887 +29.6%
Marine Segment [Member] 267,005 222,244 +20.1%
Outdoor Segment [Member] 497,598 526,551 -5.5%
Show Geography breakouts
Americas 795,624 724,572 +9.8%
Asia Pacific 282,720 248,792 +13.6%
EMEA 692,557 612,658 +13.0%
Show Timing Of Transfer Of Good Or Service breakouts
Transferred At Point In Time 1,685,604 1,496,940 +12.6%
Transferred Over Time 85,297 89,082 -4.2%
Cost of Revenue 724,414 634,423 +14.2%
Show Business Segments breakouts
Auto OEM Segment [Member] 139,897 135,699 +3.1%
Aviation Segment [Member] 59,737 50,493 +18.3%
Fitness Segment [Member] 238,164 180,562 +31.9%
Marine Segment [Member] 118,767 99,811 +19.0%
Outdoor Segment [Member] 167,849 167,858 -0.0%
Gross Profit 1,046,487 951,599 +10.0%
Show Business Segments breakouts
Auto OEM Segment [Member] 24,943 33,010 -24.4%
Aviation Segment [Member] 180,708 154,138 +17.2%
Fitness Segment [Member] 362,849 283,325 +28.1%
Marine Segment [Member] 148,238 122,433 +21.1%
Outdoor Segment [Member] 329,749 358,693 -8.1%
Research & Development 286,464 249,162 +15.0%
Show Business Segments breakouts
Auto OEM Segment [Member] 29,134 22,637 +28.7%
Aviation Segment [Member] 85,655 79,795 +7.3%
Fitness Segment [Member] 55,192 46,004 +20.0%
Marine Segment [Member] 47,986 39,844 +20.4%
Outdoor Segment [Member] 68,497 60,882 +12.5%
Selling, General & Administrative 303,220 264,962 +14.4%
Show Business Segments breakouts
Auto OEM Segment [Member] 12,504 11,649 +7.3%
Aviation Segment [Member] 34,285 30,065 +14.0%
Fitness Segment [Member] 114,057 89,553 +27.4%
Marine Segment [Member] 50,856 44,750 +13.6%
Outdoor Segment [Member] 91,518 88,945 +2.9%
Operating Expenses 589,684 514,124 +14.7%
Operating Income 456,803 437,475 +4.4%
Show Business Segments breakouts
Auto OEM Segment [Member] -16,695 -1,276 -1208.4%
Aviation Segment [Member] 60,768 44,278 +37.2%
Fitness Segment [Member] 193,600 147,768 +31.0%
Marine Segment [Member] 49,396 37,839 +30.5%
Outdoor Segment [Member] 169,734 208,866 -18.7%
Interest Income Other 32,085 28,830 +11.3%
Foreign Currency Transaction Gain Loss Before Tax 20,334 18,131 +12.2%
Other Non-Operating Income (Expense) 598 1,814 -67.0%
Non-Operating Income (Expense) 53,017 48,775 +8.7%
Income Before Taxes 509,820 486,250 +4.8%
Income Tax Expense (Benefit) 108,205 87,139 +24.2%
Net Income 401,615 399,111 +0.6%
Show Equity Components breakouts
Retained Earnings 401,615 399,111 +0.6%
EPS (Basic) 2.09 2.08 +0.5%
EPS (Diluted) 2.08 2.07 +0.5%
Wtd Avg Shares (Basic) 192,464 192,201 +0.1%
Wtd Avg Shares (Diluted) 193,533 193,171 +0.2%
Comprehensive Income 346,433 486,410 -28.8%

Balance Sheet

Balance Sheet
Metric Q3 2025 Q3 2024 YoY
Current Assets
Cash & Cash Equivalents 2,072,845 2,009,361 +3.2%
Available For Sale Securities Debt Securities Current 466,785 414,701 +12.6%
Accounts Receivable 955,614 922,034 +3.6%
Inventory 1,887,930 1,505,536 +25.4%
Deferred Costs Current 17,468 23,385 -25.3%
Prepaid Expenses & Other Current Assets 410,301 334,488 +22.7%
Total Current Assets 5,810,943 5,209,505 +11.5%
Non-Current Assets
Property, Plant & Equipment 1,296,198 1,220,113 +6.2%
Operating Lease Right-of-Use Assets 187,796 137,665 +36.4%
Available For Sale Securities Debt Securities Noncurrent 1,376,624 1,106,532 +24.4%
Deferred Tax Assets 782,093 787,849 -0.7%
Goodwill 757,290 611,884 +23.8%
Other Non-Current Assets 101,119 97,960 +3.2%
Total Assets 10,522,878 9,347,732 +12.6%
Other Assets
Deferred Costs 4,830 7,994 -39.6%
Other Intangible Assets Net 205,985 168,230 +22.4%
Current Liabilities
Accounts Payable 378,021 374,025 +1.1%
Employee Related Liabilities Current 240,077 218,941 +9.7%
Product Warranty Accrual Classified Current 71,720 57,983 +23.7%
Accrued Marketing Costs Current 86,576 75,802 +14.2%
Other Accrued Liabilities Current 231,156 222,925 +3.7%
Deferred Revenue (Current) 104,984 113,049 -7.1%
Accrued Income Taxes Current 293,476 227,735 +28.9%
Dividends Payable Current 346,286 288,204 +20.2%
Total Current Liabilities 1,752,296 1,578,664 +11.0%
Non-Current Liabilities
Deferred Tax Liabilities 109,044 104,996 +3.9%
Accrued Income Taxes Noncurrent 3,425 16,864 -79.7%
Contract With Customer Liability Noncurrent 23,187 30,227 -23.3%
Operating Lease Liabilities 155,771 109,832 +41.8%
Other Non-Current Liabilities 914 602 +51.8%
Stockholders' Equity
Common Stock 19,490 19,490 0.0%
Additional Paid In Capital Common Stock 2,359,964 2,218,170 +6.4%
Treasury Stock Value -392,738 -243,994 -61.0%
Retained Earnings 6,441,534 5,563,576 +15.8%
Accumulated Other Comprehensive Income 49,991 -50,695 +198.6%
Total Stockholders' Equity 8,478,241 7,506,547 +12.9%
Show Equity Components breakouts
Accumulated Net Unrealized Investment Gain Loss -2,955 -21,988 +86.6%
Accumulated Other Comprehensive Income 49,991 -50,695 +198.6%
Accumulated Translation Adjustment 52,946 -28,707 +284.4%
Additional Paid In Capital 2,359,964 2,218,170 +6.4%
Common Stock 19,490 19,490 0.0%
Retained Earnings 6,441,534 5,563,576 +15.8%
Treasury Stock Common -392,738 -243,994 -61.0%
Total Liabilities & Equity 10,522,878 9,347,732 +12.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q3 2025 YTD Q3 2024 YoY
Operating Activities
Net Income 1,135,206 975,703 +16.3%
Depreciation 115,633 102,343 +13.0%
Adjustment For Amortization 26,874 30,849 -12.9%
Gain Loss On Sale Of Property Plant Equipment 375 -48 +881.2%
Foreign Currency Transaction Gain Loss Unrealized -37,606 -25,486 -47.6%
Deferred Income Taxes And Tax Credits 19,324 -53,966 +135.8%
Stock-Based Compensation 125,003 101,039 +23.7%
Gain Loss On Sale Of Investments 857 29 +2855.2%
Change in Accounts Receivable 68,818 -103,567 +166.4%
Change in Inventory -324,880 -163,865 -98.3%
Increase Decrease In Other Operating Assets -18,466 -47,413 +61.1%
Change in Accounts Payable -7,531 124,315 -106.1%
Increase Decrease In Other Operating Liabilities 1,944 -6,987 +127.8%
Change in Deferred Revenue -11,603 5,885 -297.2%
Increase Decrease In Deferred Charges 8,703 -3,987 +318.3%
Increase Decrease In Income Taxes -23,077 13,737 -268.0%
Net Cash from Operations 1,079,574 948,581 +13.8%
Investing Activities
Capital Expenditures -146,273 -108,869 -34.4%
Purchases of Investments -724,091 -363,783 -99.0%
Proceeds From Sale And Maturity Of Available For Sale Securities 531,804 277,334 +91.8%
Cash From Payments For Acquisitions -175,655 5,011 -3605.4%
Other Investing Activities Net 387 -458 +184.5%
Net Cash from Investing -513,828 -190,765 -169.4%
Financing Activities
Payments Of Dividends -490,919 -428,373 -14.6%
Proceeds From Sale Of Treasury Stock 29,065 24,530 +18.5%
Payments For Repurchase Of Treasury Stock Related To Equity Awards -33,476 -16,313 -105.2%
Payment For Purchase Of Treasury Stock Under Share Repurchase Plan -130,149 -29,278 -344.5%
Net Cash from Financing -625,479 -449,434 -39.2%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 53,125 7,536 +604.9%
Net Change in Cash -6,608 315,918 -102.1%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 2,073,546 2,010,074 +3.2%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

This table is rendered from the same JSON returned by /api/financials.

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