TTM
23.3%
YoY change
+0.55pp
Trough year (2014)
12.7%
Peak year (2003)
31.2%
Latest annual
23.0%
Net Profit Margin history chart for Garmin (GRMN) from 1999 to 2025
Latest: 23.0%
Net Profit Margin change chart for Garmin (GRMN) from 1999 to 2025
Latest: +0.55pp
Net Profit Margin history table for Garmin (GRMN) from 1999 to 2025
| 2025 | 23.0% | +0.55pp | ||
| 2024 | 22.4% | -2.25pp | ||
| 2023 | 24.7% | +4.64pp | ||
| 2022 | 20.0% | -1.69pp | ||
| 2021 | 21.7% | -1.98pp | ||
| 2020 | 23.7% | -1.65pp | ||
| 2019 | 25.3% | +4.61pp | ||
| 2018 | 20.7% | -1.78pp | ||
| 2017 | 22.5% | +5.59pp | ||
| 2016 | 16.9% | +0.75pp | ||
| 2015 | 16.2% | +3.49pp | ||
| 2014 | 12.7% | -10.58pp | ||
| 2013 | 23.3% | +3.30pp | ||
| 2012 | 20.0% | +1.09pp | ||
| 2011 | 18.9% | -2.85pp | ||
| 2010 | 21.7% | -2.16pp | ||
| 2009 | 23.9% | +2.92pp | ||
| 2008 | 21.0% | -5.91pp | ||
| 2007 | 26.9% | -2.10pp | ||
| 2006 | 29.0% | -1.30pp | ||
| 2005 | 30.3% | +3.31pp | ||
| 2004 | 27.0% | -4.20pp | ||
| 2003 | 31.2% | +0.48pp | ||
| 2002 | 30.7% | -0.04pp | ||
| 2001 | 30.7% | +0.17pp | ||
| 2000 | 30.6% | +2.97pp | ||
| 1999 | 27.6% | — |
- 202523.0%+0.55pp
- 202422.4%-2.25pp
- 202324.7%+4.64pp
- 202220.0%-1.69pp
- 202121.7%-1.98pp
- 202023.7%-1.65pp
- 201925.3%+4.61pp
- 201820.7%-1.78pp
- 201722.5%+5.59pp
- 201616.9%+0.75pp
- 201516.2%+3.49pp
- 201412.7%-10.58pp
- 201323.3%+3.30pp
- 201220.0%+1.09pp
- 201118.9%-2.85pp
- 201021.7%-2.16pp
- 200923.9%+2.92pp
- 200821.0%-5.91pp
- 200726.9%-2.10pp
- 200629.0%-1.30pp
- 200530.3%+3.31pp
- 200427.0%-4.20pp
- 200331.2%+0.48pp
- 200230.7%-0.04pp
- 200130.7%+0.17pp
- 200030.6%+2.97pp
- 199927.6%—
Net Profit 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 Net Profit Margin at Garmin (GRMN)
According to Garmin's latest reported financial statements, the company's latest reported net margin is 23.3%. Net profit margin is net income divided by revenue — the bottom-line share of each sales dollar that remains after all costs, including operating expenses, interest, and taxes. It is the most comprehensive profitability ratio, though it can swing on one-off items, so read it alongside the multi-year trend below.
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) net margin is 22.96% – expanded 0.5 percentage points year-over-year.
2003 marks the peak net margin at 31.18%, with the historical low of 12.69% recorded in 2014.
Garmin Net Profit Margin by Year
Garmin Net Profit Margin 2025: 23.0%
In 2025, Garmin reported net margin of 22.96%, expanded 0.5 percentage points from 2024.
Garmin Net Profit Margin 2024: 22.4%
Garmin net margin in 2024 was 22.41%, contracted 2.3 percentage points from 2023.
Garmin Net Profit Margin 2023: 24.7%
2023's net margin for Garmin came in at 24.67%, expanded 4.6 percentage points from 2022.
Garmin Net Profit Margin 2022: 20.0%
Garmin posted net margin of 20.03% in 2022, contracted 1.7 percentage points from 2021.
Garmin Net Profit Margin 2021: 21.7%
Garmin net margin in 2021 was 21.72%.
See more financial history for Garmin (GRMN).
Sector peers by Net Profit Margin
Technology peers of Garmin (GRMN), ranked by their latest net margin
| 63.0% | |
| 47.0% | |
| 41.5% | |
| 39.3% | |
| 38.8% | |
| 29.7% | |
| 27.2% | |
| 13.4% |
- 63.0%
- 47.0%
- 39.3%
- 38.8%
- 29.7%
- 27.2%
- 13.4%
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