TTM
19.4%
YoY change
−0.86pp
Trough year (1999)
5.2%
Peak year (2009)
35.2%
Latest annual
18.8%
FCF Margin history chart for Garmin (GRMN) from 1999 to 2025
Latest: 18.8%
FCF Margin change chart for Garmin (GRMN) from 1999 to 2025
Latest: −0.86pp
FCF Margin history table for Garmin (GRMN) from 1999 to 2025
| 2025 | 18.8% | -0.86pp | ||
| 2024 | 19.7% | -2.92pp | ||
| 2023 | 22.6% | +11.44pp | ||
| 2022 | 11.2% | -2.95pp | ||
| 2021 | 14.1% | -8.53pp | ||
| 2020 | 22.6% | +7.25pp | ||
| 2019 | 15.4% | -7.29pp | ||
| 2018 | 22.7% | +6.19pp | ||
| 2017 | 16.5% | -3.69pp | ||
| 2016 | 20.2% | +13.23pp | ||
| 2015 | 6.9% | -8.54pp | ||
| 2014 | 15.5% | -6.28pp | ||
| 2013 | 21.8% | -1.78pp | ||
| 2012 | 23.5% | -4.77pp | ||
| 2011 | 28.3% | +1.01pp | ||
| 2010 | 27.3% | -7.91pp | ||
| 2009 | 35.2% | +14.17pp | ||
| 2008 | 21.1% | +4.63pp | ||
| 2007 | 16.4% | +1.44pp | ||
| 2006 | 15.0% | -6.41pp | ||
| 2005 | 21.4% | +4.24pp | ||
| 2004 | 17.2% | -7.70pp | ||
| 2003 | 24.9% | -10.19pp | ||
| 2002 | 35.0% | +3.85pp | ||
| 2001 | 31.2% | +12.82pp | ||
| 2000 | 18.4% | +13.14pp | ||
| 1999 | 5.2% | — |
- 202518.8%-0.86pp
- 202419.7%-2.92pp
- 202322.6%+11.44pp
- 202211.2%-2.95pp
- 202114.1%-8.53pp
- 202022.6%+7.25pp
- 201915.4%-7.29pp
- 201822.7%+6.19pp
- 201716.5%-3.69pp
- 201620.2%+13.23pp
- 20156.9%-8.54pp
- 201415.5%-6.28pp
- 201321.8%-1.78pp
- 201223.5%-4.77pp
- 201128.3%+1.01pp
- 201027.3%-7.91pp
- 200935.2%+14.17pp
- 200821.1%+4.63pp
- 200716.4%+1.44pp
- 200615.0%-6.41pp
- 200521.4%+4.24pp
- 200417.2%-7.70pp
- 200324.9%-10.19pp
- 200235.0%+3.85pp
- 200131.2%+12.82pp
- 200018.4%+13.14pp
- 19995.2%—
FCF Margin values are taken from Garmin's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About FCF Margin at Garmin (GRMN)
According to Garmin's latest reported financial statements, the company's latest reported free cash flow margin is 19.4%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Garmin (GRMN) free cash flow margin is 18.81% – contracted 0.9 percentage points year-over-year.
The record annual free cash flow margin stands at 35.22%, reached in 2009; the historical low of 5.22% was recorded in 1999.
Garmin FCF Margin by Year
Garmin FCF Margin 2025: 18.8%
In 2025, Garmin reported free cash flow margin of 18.81%, contracted 0.9 percentage points from 2024.
Garmin FCF Margin 2024: 19.7%
Garmin free cash flow margin in 2024 was 19.67%, contracted 2.9 percentage points from 2023.
Garmin FCF Margin 2023: 22.6%
2023's free cash flow margin for Garmin came in at 22.59%, expanded 11.4 percentage points from 2022.
Garmin FCF Margin 2022: 11.2%
Garmin posted free cash flow margin of 11.15% in 2022, contracted 3.0 percentage points from 2021.
Garmin FCF Margin 2021: 14.1%
Garmin free cash flow margin in 2021 was 14.11%.
See more financial history for Garmin (GRMN).
Sector peers by FCF Margin
Technology peers of Garmin (GRMN), ranked by their latest free cash flow margin
| 47.0% | |
| 43.4% | |
| 28.6% | |
| 26.6% | |
| 25.5% | |
| 22.9% | |
| 22.9% | |
| 17.7% |
- 47.0%
- 43.4%
- 28.6%
- 26.6%
- 25.5%
- 22.9%
- 22.9%
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