OverviewSuggest Edit
Garmin is a company specializing in GPS technology development. It designs, develops, manufactures, markets, and distributes hand-held, wearable, portable, and fixed-mount GPS-enabled products and other navigation, communications, sensor-based, and information products. The company serves the auto, aviation, fitness, marine, and outdoor markets.
| Type | Public | |
| Founded | 1989 | |
| HQ | Olathe, KS, US | Map |
| Website | garmin.com | |
| Employee Ratings | More | |
| Overall Culture | A- | More |
Recent NewsAll News
- What will be the growth of Smart Wearable Lifestyle Devices Market? Players evolve: Apple, Fitbit, Garmin, Jawbone (Aliph)
- Gym/Club Fitness Trackers Global Market Top Key Players – Fitbit, Samsung, XiaoMi, Garmin, Jabra, Atlas Wearables and Forecast to 2023
- PoS Devices Market Excellent Growth by 2023| Comprehensive Study on Key Players: Garmin, Esterline, Honeywell Aerospace, Avidyne Corp
- Rapid Growth of Physical Education Technology Market | Key Vendors (Garmin ,Jawbone ,Konami ,Motorola Mobility ,Nike ,Pebble) | Global Forecasts Till 2025
Key People/Management at Garmin
Min Kao
Executive Chairman
Clifton Pemble
President and CEO
Douglas Boessen
Chief Financial Officer and Treasurer
Jonathan Burrell
Director
Joseph Hartnett
Director
Andrew Etkind
Vice President, General Counsel and Secretary
Garmin Office Locations
Garmin has offices in Olathe, Salem, Eastern Creek, Evere and in 17 other locations
Olathe, KS, US (HQ)
1200 E 151st St
Salem, OR, US
2345 Turner Rd SE
Eastern Creek, AU
30 Clay Pl
Evere, BE
Pieter Dupontstraat 165
Las Condes, CL
Rosario Nte 660
Shanghai, CN
37th Floor, Block A, New Caohejing International Business Center, No. 391 Guiping Road, Xuhui District
Garmin Financials and Metrics
Garmin Revenue
Garmin's revenue was reported to be $4.19 b in FY, 2020
| USD | |
|---|---|
Revenue (Q1, 2021) | 1.1b |
Gross profit (Q1, 2021) | 641.6m |
Gross profit margin (Q1, 2021), % | 59.8% |
Net income (Q1, 2021) | 220.0m |
EBIT (Q1, 2021) | 249.7m |
Market capitalization (15-Sept-2021) | 32.5b |
Closing stock price (15-Sept-2021) | 169.1 |
Cash (27-Mar-2021) | 1.6b |
EV | 31.0b |
Garmin's current market capitalization is $32.5 b.
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 710.9m | 894.5m | 810.0m | 766.1m | 954.8m | 934.4m | 856.1m | 869.9m | 1.1b | 1.1b |
Cost of goods sold | 284.3m | 371.2m | 329.3m | 314.4m | 379.5m | 366.9m | 349.2m | 354.4m | 441.2m | 430.8m |
Gross profit | 426.5m | 523.3m | 480.7m | 451.7m | 575.4m | 567.5m | 506.9m | 515.4m | 668.0m | 641.6m |
Gross profit Margin, % | 60% | 59% | 59% | 59% | 60% | 61% | 59% | 59% | 60% | 60% |
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash | 899.0m | 946.7m | 1.1b | 1.1b | 820.2m | 976.4m | 1.0b | 1.4b | 1.2b | 1.6b |
Accounts Receivable | 409.7m | 533.1m | 467.8m | 453.1m | 583.9m | 558.3m | 500.2m | 523.9m | 658.0m | 558.2m |
Prepaid Expenses | 174.6m | 163.5m | 187.7m | 201.5m | ||||||
Inventories | 547.4m | 501.5m | 556.6m | 598.4m | 648.1m | 749.8m | 790.2m | 813.2m | 821.4m | 837.9m |
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
Net Income | 129.4m | 319.7m | 503.9m | 140.2m | 363.8m | 591.7m | 161.2m | 345.4m | 658.8m | 220.0m |
Depreciation and Amortization | 23.1m | 48.2m | 71.5m | 24.0m | 50.7m | 77.6m | 28.2m | 57.5m | 90.1m | |
Inventories | (26.5m) | (4.7m) | (69.1m) | (46.6m) | (86.1m) | (210.6m) | (47.3m) | (57.1m) | (56.1m) | |
Accounts Payable | (36.7m) | 1.6m | 32.6m | (32.8m) | 6.0m | 27.5m | (39.9m) | (51.5m) | (11.9m) |
| USD | FY, 2017 |
|---|---|
Revenue/Employee | 251.0k |
Financial Leverage | 1.3 x |
Garmin Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Firstbeat Analytics | July 01, 2020 | |
| Flight Plan | August 29, 2018 | |
| EmpirBus | February 20, 2018 | |
| Navionics | October 27, 2017 | |
| Alphamantis Technologies | July 20, 2017 | |
| ActiveCaptain | May 11, 2017 | |
| Iiyonet | September 30, 2016 | |
| DeLorme | March 03, 2016 | |
| PulsedLight | January 13, 2016 | |
| iKubu | January 14, 2015 |
Garmin Revenue Breakdown
Garmin revenue breakdown by business segment: 19.6% from Aviation, 14.6% from Auto, 13.5% from Marine, 27.9% from Fitness and 24.4% from Outdoor
Garmin revenue breakdown by geographic segment: 35.9% from EMEA, 15.7% from APAC and 48.4% from Americas
Garmin Cybersecurity Score
Garmin Online and Social Media Presence
208.49k Twitter followers
Garmin has 208.49k Twitter Followers. The number of followers has increased 0.3% month over month and increased 0.5% quarter over quarter
Garmin's Trends
Twitter Engagement Stats for @garmin
65.2k
Tweets
601
Following
208.5k
Followers
268
Tweets last 30 days
2.2
Avg. likes per Tweet
23.1%
Tweets with engagement
Garmin Company Culture
Overall Culture
A-
75/100
CEO Rating
B+
73/100
Compensation
B
73/100
Diversity
C
64/100
Garmin News and Updates
August 23, 2018
What will be the growth of Smart Wearable Lifestyle Devices Market? Players evolve: Apple, Fitbit, Garmin, Jawbone (Aliph)
HTF MI released a new market study on Global Smart Wearable Lifestyle Devices Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. At present, the market is developing its presence. The Research report presents a complete …
August 22, 2018
Gym/Club Fitness Trackers Global Market Top Key Players – Fitbit, Samsung, XiaoMi, Garmin, Jabra, Atlas Wearables and Forecast to 2023
Wiseguyreports.Com Added New Market Research Report On -“Gym/Club Fitness Trackers Market 2018 Manufacturers, Applications and Future Demand Forecast to 2023 ”. Posted via Industry Today. Follow us on Twitter @IndustryToday
August 14, 2018
PoS Devices Market Excellent Growth by 2023| Comprehensive Study on Key Players: Garmin, Esterline, Honeywell Aerospace, Avidyne Corp
PoS Devices Market Latest Developments by Type, by End-Users/Application, by Region - Forecast and Business Outlook Posted via Industry Today. Follow us on Twitter @IndustryToday
August 09, 2018
Rapid Growth of Physical Education Technology Market | Key Vendors (Garmin ,Jawbone ,Konami ,Motorola Mobility ,Nike ,Pebble) | Global Forecasts Till 2025
The physical education technology market is highly dynamic as it is still in its nascent stage, with many vendors still exploring ways to converge technology with physical education activities while ensuring educational institutions do not incur substantial additional expenditure. Posted via Industr…
August 06, 2018
12 of the best GPS devices for your car
While today's smartphones are loaded with Google Maps or Apple Maps, they are merely quick solutions for traveling short distances. Believe it or not, getting a dedicated GPS device for your car or truck is still the best way to get to your destination safely and with ease.
SEE ALSO: 11 of the be…
August 03, 2018
Fish Finders Market to Rise at 6.0% CAGR between 2018 and 2023, Widening Application Base to Boost Growth
Fish Finders Market Report contains complete information about manufacturers, suppliers, distributors, traders, customers, investors and major types as well as applications. Fish Finders market report provides an in-depth overview of Product Specification, technology, product type and production ana…
Garmin Blogs
September 17, 2021
Four Reasons to Use AeroData in Your Flight Operations
Garmin announced the acquisition of AeroData, a leading provider of performance data solutions and services for commercial aircraft, in May 2021. With AeroData, operators benefit from countless features that make daily operations more seamless and help flights run safely and on time. And while the l…
September 15, 2021
Stay on Top of Your Fitness as You Head Back to the Office
If you’re heading back into the office more frequently, we know it can be hard to keep up with your fitness goals and routines. Whether you’ve only got 5 minutes between meetings or an hour-long lunch break, there are plenty of features on your Garmin smartwatch or in Garmin Connect™ that can help y…
September 15, 2021
Garmin announces GFC 600 autopilot certification for select Piper Meridian aircraft
OLATHE, Kan./Sept. 15, 2021 – Garmin® International, Inc., a unit of Garmin Ltd., today announced it has received Federal Aviation Administration (FAA) Supplemental Type Certification (STC) for the GFC™ 600 autopilot in the Piper Meridian (PA-46-500TP)1. Additionally, Smart Rudder Bias2 is now certi…
September 14, 2021
Trail Running: What You Need to Get Started
By Mirna Valerio Running is the way that I prefer to move on a trail. I get to see a little bit more, the movement feels just right for my body, and I get to connect with myself, the trees, the skies, the ground beneath me and the animals all around me. There are no […]
The post Trail Running: What …
September 14, 2021
Garmin adds new Adventure Racing smartwatch activity profile, designed for the ultimate race of human endurance
OLATHE, Kan./September 14, 2021 – Garmin® International, Inc., today announced the Adventure Racing sport profile, a new activity profile that allows participants to track vital information and utilize their Enduro™ ultraperformance multisport watch, while adhering to the rules and regulations of Ad…
September 08, 2021
Bikepacking for Experts: the “Yo-yo” Colorado Trail
Who doesn’t love bikepacking? The adventure of just you and your bike, out in the wilderness, discovering new places. For Katie and Andrew Strempke, this is a way of life. But with races and events being canceled due to the pandemic, they wanted to do something different. This is their story about b…
Garmin Frequently Asked Questions
When was Garmin founded?
Garmin was founded in 1989.
Who are Garmin key executives?
Garmin's key executives are Min Kao, Clifton Pemble and Douglas Boessen.
How many employees does Garmin have?
Garmin has 15,000 employees.
What is Garmin revenue?
Latest Garmin annual revenue is $4.2 b.
What is Garmin revenue per employee?
Latest Garmin revenue per employee is $279.1 k.
Who are Garmin competitors?
Competitors of Garmin include Kearfott, Honeywell Aerospace and Alpine Electronics Of America.
Where is Garmin headquarters?
Garmin headquarters is located at 1200 E 151st St, Olathe.
Where are Garmin offices?
Garmin has offices in Olathe, Salem, Eastern Creek, Evere and in 17 other locations.
How many offices does Garmin have?
Garmin has 21 offices.
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