GARMIN LTD

GRMN · XNYS

CIK 1121788fmd_0TC79B6QTT3TP6MBPZC3XRY64ZManufacturing · Search, Detection, Navigation, Guidance, Aeronautical SysTemplate: Standard

Coverage: Dec 31, 2006 to Sep 26, 2026, 76 periods

Income Statement · Annual · Millions · USD
Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	3,046	3,122	3,347	3,758	4,187	4,983	4,860	5,228	6,297	7,246
Cost of revenue	1,357	1,324	1,368	1,524	1,705	2,092	2,054	2,223	2,600	2,989
Gross profit	1,689	1,798	1,980	2,234	2,481	2,890	2,807	3,005	3,697	4,256
Research and development	468	512	568	605	652	779	835	905	994	1,126
Selling, general and administrative	411	438	478	519	624	721	944	1,008	1,109	1,254
Total operating expenses	1,056	1,114	1,201	1,288	1,427	1,672	1,779	1,913	2,103	2,380
Operating income	633	684	778	946	1,054	1,219	1,028	1,092	1,594	1,876
Interest expense	–	–	–	–	–	–	–	–	–	–
Interest and investment income	33	37	47	–	–	–	–	–	–	–
Other non-operating income (expense)	6	13	45	42	49	(12)	37	108	101	138
Income before taxes	639	697	823	987	1,103	1,207	1,065	1,200	1,695	2,015
Income tax expense	121	(12)	129	35	111	125	91	(89)	284	351
Net income from continuing operations	518	709	694	952	992	1,082	974	1,290	1,411	1,664
Net income	518	709	694	952	992	1,082	974	1,290	1,411	1,664