GARMIN LTD (GRMN) closed fiscal year 2025 with a gross margin of 58.7 % and a net margin of 23.0 %.
GARMIN LTD (GRMN) closed fiscal year 2025 with a gross margin of 58.7 % and a net margin of 23.0 %. The same year shows an EBITDA margin of 28.5 % and an EBIT margin of 25.9 %. The free cash flow margin was 18.8 %. Against the previous year the gross margin moved +0.0 pp and the net margin +0.5 pp. Across the period the gross margin ranges between 44.5 % in 2008 and 59.5 % in 2019. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 46.01 % | 44.46 % | 49.01 % | 50.05 % | 48.52 % | 52.97 % | 53.47 % | 55.89 % | 54.56 % | 55.94 % | 57.60 % | 59.14 % | 59.45 % | 59.27 % | 58.01 % | 57.75 % | 57.48 % | 58.70 % | 58.74 % |
| EBITDA margin (%) | 30.54 % | 26.92 % | 29.95 % | 27.19 % | 23.50 % | 25.58 % | 24.81 % | 26.74 % | 22.27 % | 23.83 % | 24.66 % | 26.13 % | 27.99 % | 28.21 % | 27.56 % | 24.52 % | 24.29 % | 28.17 % | 28.50 % |
| EBIT margin (%) | 28.53 % | 24.67 % | 26.68 % | 23.67 % | 20.07 % | 22.25 % | 21.81 % | 24.06 % | 19.49 % | 20.97 % | 21.90 % | 23.25 % | 25.17 % | 25.18 % | 24.46 % | 21.15 % | 20.89 % | 25.31 % | 25.89 % |
| Net margin (%) | 26.88 % | 20.97 % | 23.89 % | 21.73 % | 18.88 % | 19.97 % | 23.27 % | 12.69 % | 16.18 % | 17.15 % | 22.71 % | 20.73 % | 25.35 % | 23.70 % | 21.72 % | 20.03 % | 24.67 % | 22.41 % | 22.96 % |
| FCF margin (%) | 16.52 % | 21.25 % | 35.48 % | 27.45 % | 28.42 % | 23.80 % | 21.81 % | 15.65 % | 7.09 % | 20.36 % | 16.70 % | 22.82 % | 15.45 % | 22.69 % | 14.14 % | 11.19 % | 22.62 % | 19.67 % | 18.81 % |
