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Garmin (GRMN) Cash Flow Waterfall

Trace Garmin's operating cash flow down to free cash flow, then see where FCF goes — capex, buybacks, dividends, and debt repayment.

TTM

Operating CF

$1.75B

Capex

-$297M

Free Cash Flow

$1.45B

FCF Margin

+83.0%

Cash flow waterfall for Garmin (GRMN) — TTM through Q1 2026

Free cash flow: $1.45B

Cash flow breakdown for Garmin (GRMN) — TTM through Q1 2026

  • Operating Cash Flow$1.75B
  • Capital Expenditure-$297M
  • Free Cash Flow$1.45B
  • Acquisitions-$174M
  • Other Investing-$294M
  • Share Buybacks-$264M
  • Dividends Paid-$693M
  • Other Financing$58M
  • Forex Effect$30.2M
  • Net Cash Increase$114M
Want to see what drove the FCF change?Free Cash Flow Bridge

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Data & methodology