To the full analysis
Garmin stock: growth
GRMNGarmin reported $7.25B in revenue for fiscal 2025, up 15.1% on the prior year, up 11.6% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
7.7%
per year from 2006 to 2025, per share 8.3%
Earnings (Annual rate)
6.4%
per year from 2006 to 2025, per share 7%
Free cash flow (Annual rate)
9%
per year from 2006 to 2025, per share 9.6%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 11.6% | 9.9% | 7.7% |
| Revenue per share | 11.4% | 9.8% | 8.3% |
| Earnings | 10.9% | 13.8% | 6.4% |
| Earnings per share | 10.8% | 13.7% | 7.0% |
| Free cash flow | 7.5% | 21.4% | 9.0% |
| Free cash flow per share | 7.4% | 21.3% | 9.6% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $1.77B | $514.12M | $265.83M |
| 2007 | $3.18B | $855.01M | $522.39M |
| 2008 | $3.49B | $732.85M | $735.57M |
| 2009 | $2.95B | $703.95M | $1.04B |
| 2010 | $2.69B | $584.6M | $734.66M |
| 2011 | $2.76B | $520.9M | $781.16M |
| 2012 | $2.72B | $542.4M | $639.52M |
| 2013 | $2.63B | $612.41M | $572.88M |
| 2014 | $2.87B | $364.21M | $444.65M |
| 2015 | $2.82B | $456.23M | $195.99M |
| 2016 | $3.02B | $510.81M | $609.01M |
| 2017 | $3.09B | $694.96M | $508.91M |
| 2018 | $3.35B | $694.08M | $759.17M |
| 2019 | $3.76B | $952.49M | $578.14M |
| 2020 | $4.19B | $992.32M | $947.8M |
| 2021 | $4.98B | $1.08B | $702.84M |
| 2022 | $4.86B | $973.59M | $542.07M |
| 2023 | $5.23B | $1.29B | $1.18B |
| 2024 | $6.3B | $1.41B | $1.24B |
| 2025 | $7.25B | $1.66B | $1.36B |
Revenue by segment
How Garmin Ltd. makes its money and how that has shifted. Names are as the company reports them.
- Fitness33%
- Outdoor28%
- Marine16%
- Aviation14%
- Automotive Mobile9%
Figures as a table
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|---|---|
| Fitness | $1.05B | $1.32B | $1.53B | $1.11B | $1.34B | $1.77B | $2.36B | 32.5% |
| Outdoor | $917.57M | $1.13B | $1.28B | $1.5B | $1.7B | $1.96B | $2.05B | 28.3% |
| Marine | $508.85M | $657.85M | $875.15M | $903.98M | $916.91M | $1.07B | $1.18B | 16.3% |
| Aviation | $735.46M | $622.82M | $712.47M | $792.8M | $846.33M | $876.61M | $987.16M | 13.6% |
| Automotive Mobile | $548.1M | $460.33M | $579.46M | $558.92M | $423.22M | $610.62M | $664.68M | 9.2% |
| Total revenue | $3.76B | $4.19B | $4.98B | $4.86B | $5.23B | $6.3B | $7.25B | 100% |
Revenue by region
Where Garmin Ltd. generates its revenue.
- Americas48%
- EMEA38%
- Asia Pacific14%
Figures as a table
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|---|---|
| Americas | $1.82B | $1.97B | $2.35B | $2.43B | $2.61B | $3.04B | $3.45B | 47.7% |
| EMEA | $1.35B | $1.58B | $1.86B | $1.63B | $1.78B | $2.32B | $2.74B | 37.8% |
| Asia Pacific | $589.2M | $638.74M | $774.37M | $797.62M | $837.93M | $941.51M | $1.05B | 14.5% |
| Total revenue | $3.76B | $4.19B | $4.98B | $4.86B | $5.23B | $6.3B | $7.25B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 27 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 31 Jan 2023)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.