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.

TypePublic
Founded1989
HQOlathe, KS, US
Websitegarmin.com
Employee Ratings4.1
Overall CultureA-

Latest Updates

Employees (est.) (Dec 2019)15,000(+16%)
Job Openings360
Revenue (FY, 2020)$4.2 B(+12%)
Share Price (Sept 2021)$169.1
Cybersecurity ratingBMore

Key People/Management at Garmin

Min Kao

Min Kao

Executive Chairman
Clifton Pemble

Clifton Pemble

President and CEO
Douglas Boessen

Douglas Boessen

Chief Financial Officer and Treasurer
Jonathan Burrell

Jonathan Burrell

Director
Joseph Hartnett

Joseph Hartnett

Director
Andrew Etkind

Andrew Etkind

Vice President, General Counsel and Secretary
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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
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Garmin Financials and Metrics

Garmin Revenue

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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
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

3.1b3.3b3.8b4.2b

Revenue growth, %

2%8%12%

Cost of goods sold

1.3b1.4b1.5b1.7b

Gross profit

1.8b2.0b2.2b2.5b
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

710.9m894.5m810.0m766.1m954.8m934.4m856.1m869.9m1.1b1.1b

Cost of goods sold

284.3m371.2m329.3m314.4m379.5m366.9m349.2m354.4m441.2m430.8m

Gross profit

426.5m523.3m480.7m451.7m575.4m567.5m506.9m515.4m668.0m641.6m

Gross profit Margin, %

60%59%59%59%60%61%59%59%60%60%
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

891.5m1.2b1.0b1.5b

Accounts Receivable

590.9m569.8m706.8m849.5m

Prepaid Expenses

191.6m

Inventories

517.6m561.8m752.9m762.1m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Cash

899.0m946.7m1.1b1.1b820.2m976.4m1.0b1.4b1.2b1.6b

Accounts Receivable

409.7m533.1m467.8m453.1m583.9m558.3m500.2m523.9m658.0m558.2m

Prepaid Expenses

174.6m163.5m187.7m201.5m

Inventories

547.4m501.5m556.6m598.4m648.1m749.8m790.2m813.2m821.4m837.9m
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

695.0m694.1m952.5m992.3m

Depreciation and Amortization

86.3m96.2m106.2m126.7m

Inventories

(38.6m)(82.3m)(170.2m)28.7m

Accounts Payable

(17.2m)40.6m26.2m1.4m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Net Income

129.4m319.7m503.9m140.2m363.8m591.7m161.2m345.4m658.8m220.0m

Depreciation and Amortization

23.1m48.2m71.5m24.0m50.7m77.6m28.2m57.5m90.1m

Inventories

(26.5m)(4.7m)(69.1m)(46.6m)(86.1m)(210.6m)(47.3m)(57.1m)(56.1m)

Accounts Payable

(36.7m)1.6m32.6m(32.8m)6.0m27.5m(39.9m)(51.5m)(11.9m)
USDFY, 2017

Revenue/Employee

251.0k

Financial Leverage

1.3 x
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Garmin Operating Metrics

FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Patents Issued

8809501.05 k1.1 k1.17 k1.35 k

Trademarks

610640700750800900
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Garmin Acquisitions / Subsidiaries

Company NameDateDeal Size
Firstbeat AnalyticsJuly 01, 2020
Flight PlanAugust 29, 2018
EmpirBusFebruary 20, 2018
NavionicsOctober 27, 2017
Alphamantis TechnologiesJuly 20, 2017
ActiveCaptainMay 11, 2017
IiyonetSeptember 30, 2016
DeLormeMarch 03, 2016
PulsedLightJanuary 13, 2016
iKubuJanuary 14, 2015
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Garmin Revenue Breakdown

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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

Cybersecurity ratingPremium dataset

B

82/100

SecurityScorecard logo

Garmin Online and Social Media Presence

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Garmin Company Culture

  • Overall Culture

    A-

    75/100

  • CEO Rating

    B+

    73/100

  • Compensation

    B

    73/100

  • Diversity

    C

    64/100

Learn more on Comparably

Garmin News and Updates

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 …

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

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

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…

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…

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…
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Garmin Blogs

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…

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…

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…

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 …

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…

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…
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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.