TTM
59.1%
YoY change
+0.04pp
Trough year (2008)
44.5%
Peak year (2019)
59.5%
Latest annual
58.7%
Gross Margin history chart for Garmin (GRMN) from 1999 to 2025
Latest: 58.7%
Gross Margin change chart for Garmin (GRMN) from 1999 to 2025
Latest: +0.04pp
Gross Margin history table for Garmin (GRMN) from 1999 to 2025
| 2025 | 58.7% | +0.04pp | ||
| 2024 | 58.7% | +1.23pp | ||
| 2023 | 57.5% | -0.27pp | ||
| 2022 | 57.7% | -0.26pp | ||
| 2021 | 58.0% | -1.26pp | ||
| 2020 | 59.3% | -0.18pp | ||
| 2019 | 59.5% | +0.31pp | ||
| 2018 | 59.1% | +1.38pp | ||
| 2017 | 57.8% | +2.12pp | ||
| 2016 | 55.6% | +1.08pp | ||
| 2015 | 54.6% | -1.33pp | ||
| 2014 | 55.9% | +2.42pp | ||
| 2013 | 53.5% | +0.50pp | ||
| 2012 | 53.0% | +4.44pp | ||
| 2011 | 48.5% | -1.53pp | ||
| 2010 | 50.1% | +1.04pp | ||
| 2009 | 49.0% | +4.55pp | ||
| 2008 | 44.5% | -1.55pp | ||
| 2007 | 46.0% | -3.73pp | ||
| 2006 | 49.7% | -2.32pp | ||
| 2005 | 52.1% | -1.87pp | ||
| 2004 | 53.9% | -3.76pp | ||
| 2003 | 57.7% | +2.85pp | ||
| 2002 | 54.8% | +1.15pp | ||
| 2001 | 53.7% | -1.64pp | ||
| 2000 | 55.3% | -1.64pp | ||
| 1999 | 57.0% | — |
- 202558.7%+0.04pp
- 202458.7%+1.23pp
- 202357.5%-0.27pp
- 202257.7%-0.26pp
- 202158.0%-1.26pp
- 202059.3%-0.18pp
- 201959.5%+0.31pp
- 201859.1%+1.38pp
- 201757.8%+2.12pp
- 201655.6%+1.08pp
- 201554.6%-1.33pp
- 201455.9%+2.42pp
- 201353.5%+0.50pp
- 201253.0%+4.44pp
- 201148.5%-1.53pp
- 201050.1%+1.04pp
- 200949.0%+4.55pp
- 200844.5%-1.55pp
- 200746.0%-3.73pp
- 200649.7%-2.32pp
- 200552.1%-1.87pp
- 200453.9%-3.76pp
- 200357.7%+2.85pp
- 200254.8%+1.15pp
- 200153.7%-1.64pp
- 200055.3%-1.64pp
- 199957.0%—
Gross 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 Gross Margin at Garmin (GRMN)
According to Garmin's latest reported financial statements, the company's latest reported gross margin is 59.1%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual gross margin for Garmin (GRMN) came in at 58.74% – expanded 0.0 percentage points year-over-year.
The highest annual gross margin of 59.45% was reported in 2019. The lowest in the available history was 44.46% in 2008.
Garmin Gross Margin by Year
Garmin Gross Margin 2025: 58.7%
Garmin posted gross margin of 58.74% in 2025, expanded 0.0 percentage points from 2024.
Garmin Gross Margin 2024: 58.7%
In 2024, Garmin reported gross margin of 58.70%, expanded 1.2 percentage points from 2023.
Garmin Gross Margin 2023: 57.5%
Garmin gross margin in 2023 was 57.48%, contracted 0.3 percentage points from 2022.
Garmin Gross Margin 2022: 57.7%
2022's gross margin for Garmin came in at 57.75%, contracted 0.3 percentage points from 2021.
Garmin Gross Margin 2021: 58.0%
Garmin gross margin in 2021 was 58.01%.
See more financial history for Garmin (GRMN).
Sector peers by Gross Margin
Technology peers of Garmin (GRMN), ranked by their latest gross margin
| 74.1% | |
| 68.3% | |
| 67.0% | |
| 61.8% | |
| 58.4% | |
| 52.6% | |
| 50.3% | |
| 47.9% |
- 74.1%
- 68.3%
- 67.0%
- 61.8%
- 52.6%
- 50.3%
- 47.9%
Frequently asked questions
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