Garmin Ltd.
As of Fiscal Year 2025 (ended December 27, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total revenue (FY2025) | $7.246 billion ($7,245,519 thousand), up 15% year-over-year from $6.297 billion in FY2024 |
| Net income (FY2025) | $1.664 billion ($1,663,887 thousand), up 18% year-over-year from $1.411 billion in FY2024 |
| Diluted EPS, GAAP (FY2025) | $8.59 per share, vs. $7.30 in FY2024 |
| Gross margin (FY2025) | 58.7% of revenue, flat vs. 58.7% in FY2024 |
| Operating margin (FY2025) | 25.9% of revenue ($1,876,076 thousand operating income), vs. 25.3% in FY2024 |
| Operating income -- Fitness segment (FY2025) | $725.9 million (30.8% segment operating margin) |
| Operating income -- Outdoor segment (FY2025) | $690.4 million (33.6% segment operating margin) |
| Operating income -- Aviation segment (FY2025) | $257.2 million (26.1% segment operating margin) |
| Operating income -- Marine segment (FY2025) | $251.3 million (21.2% segment operating margin) |
| Operating income -- Auto OEM segment (FY2025) | $(48.6) million operating loss (-7.3% segment operating margin); segment excluded from an operating-income pie because of this loss |
| R&D spending (FY2025) | $1.126 billion ($1,126,231 thousand), ~15.5% of revenue, up from $994 million in FY2024 |
| Dividend (FY2025 declared) | $3.60 per share annualized (four quarterly payments of $0.90); Board has proposed a $4.20 per share dividend for 2026, a 17% increase |
| Employees | Approximately 23,000 full- and part-time employees worldwide as of Dec 27, 2025 (per FY2025 Form 10-K): ~8,100 Americas, ~11,400 APAC, ~3,500 EMEA |
| Units shipped (FY2025) | Shipped over 20 million units, a new company record (company-disclosed, no further precision or per-segment breakout given) |
| Weighted average diluted shares outstanding (FY2025) | 193.6 million shares |
Sources: All figures are company-disclosed, sourced from Garmin Ltd.'s Q4/FY2025 earnings release (press release dated February 18, 2026, covering the 52-week fiscal year ended December 27, 2025), the FY2025 Form 10-K, and prior-year earnings releases (FY2021, FY2023) for historical revenue. Garmin's fiscal year is a 52/53-week year ending on the last Saturday of December (not a calendar Dec 31 year-end), so FY2025 ended Dec 27, 2025. No third-party market-share estimate is included: Garmin's 10-K makes no quantified share claims, and the only specifically-sourced third-party figures found (Counterpoint Research's global smartwatch tracker) report that Garmin's shipment volumes are too small to register in the top-five global smartwatch vendor rankings for 2025 -- not a usable share percentage for Garmin's premium sports/outdoor niche -- so it was omitted rather than guessed. Units-shipped figure ('over 20 million') is a round, self-disclosed number with no further precision or segment breakout given by the company. Employee count is approximate, as stated in the 10-K.