Garmin (formerly known as ProNav) is a multinational technology company known for its specialization in GPS technology development. The Company designs, develops, manufactures, markets and distributes a diverse family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor-based and information products.

HQOlathe, US
Size (employees)12,300 (est)+7%
Garmin was founded in 1989 and is headquartered in Olathe, US
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Key People/Management at Garmin

Min Kao

Min Kao

Executive Chairman
Clifton A. Pemble

Clifton A. Pemble

President and CEO
Doug Boessen

Doug Boessen

Chief Financial Officer and Treasurer
Andrew Etkind

Andrew Etkind

Vice President, General Counsel and Secretary
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Garmin Office Locations

Garmin has offices in Olathe, Southampton, Xizhi District and Salem
Olathe, US (HQ)
1200 E 151st St
Salem, US
2345 Turner Rd SE
Xizhi District, TW
Zhangshu 2nd Rd
Southampton, GB
Liberty House, Bulls Copse Road, Hounsdown Business Park
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Garmin Financials and Metrics

Garmin Revenue

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Garmin's revenue was reported to be $3.09 b in FY, 2017 which is a 2.3% increase from the previous period.

Revenue (Q2, 2018)

1.6 b

Gross profit (Q2, 2018)

949.8 m

Gross profit margin (Q2, 2018), %


Net income (Q2, 2018)

319.7 m

EBIT (Q2, 2018)

359.7 m

Market capitalization (20-Sep-2018)

13.2 b

Closing stock price (20-Sep-2018)


Cash (30-Jun-2018)

946.7 m
Garmin's current market capitalization is $13.2 b.
USDFY, 2014FY, 2015FY, 2016FY, 2017


2.9 b2.8 b3 b3.1 b

Revenue growth, %


Cost of goods sold

1.3 b1.3 b1.3 b1.3 b

Gross profit

1.6 b1.5 b1.7 b1.8 b
USDFY, 2014FY, 2015FY, 2016FY, 2017


1.2 b833.1 m846.9 m891.5 m

Accounts Receivable

570.2 m531.5 m527.1 m590.9 m

Prepaid Expenses

48.6 m81.6 m89.9 m153.9 m


48.6 m81.6 m484.8 m517.6 m
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018


1.2 b938.2 m914.9 m857.7 m801.5 m912.6 m833.6 m859.6 m891.3 m899 m946.7 m

Accounts Receivable

425.7 m502 m431.9 m408.3 m510.3 m461.4 m391.3 m514.9 m457.4 m409.7 m533.1 m

Prepaid Expenses

57.6 m83.7 m72.7 m96.4 m93.8 m90.7 m94.3 m106.8 m107.3 m


470.4 m458.5 m503.2 m517.8 m508.2 m534.7 m533.2 m525.2 m107.3 m547.4 m501.5 m
USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

364.2 m456.2 m510.8 m695 m

Depreciation and Amortization

48.4 m51.3 m55.8 m59.9 m


(76 m)(120 m)(2.5 m)(38.6 m)

Accounts Payable

9 m36.1 m(11.5 m)(17.2 m)
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2018Q2, 2018Q3, 2017Q1, 2018Q2, 2018

Net Income

66.8 m204.5 m323.8 m88.1 m249.2 m374.2 m237.8 m408.8 m556.2 m129.4 m319.7 m

Depreciation and Amortization

18.9 m38.1 m58.4 m20.2 m41.5 m62.5 m21.7 m42.8 m43.4 m23.1 m48.2 m


(56.9 m)(45.6 m)(111 m)(18.9 m)(16.7 m)(41 m)(41.4 m)(34.6 m)(86.6 m)(26.5 m)(4.7 m)

Accounts Payable

(26 m)(7.1 m)16.9 m(45.5 m)(32.3 m)(40.7 m)(44.2 m)(20.9 m)(24.5 m)(36.7 m)1.6 m
USDY, 2018

Financial Leverage

1.3 x
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Garmin Operating Metrics

FY, 2014FY, 2015FY, 2016FY, 2017

Patents Issued

880 950 1.05 k1.10 k


610 640 700 750
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Garmin Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
NavionicsOctober 27, 2017
Alphamantis TechnologiesJuly 20, 2017
ActiveCaptainMay 11, 2017
IiyonetSeptember 30, 2016
DeLormeMarch 03, 2016
PulsedLightJanuary 13, 2016
iKubuJanuary 14, 2015
Fusion ElectronicsJune 30, 2014
Nexus Marine ABSeptember 13, 2012
Garmin Chile Lda.December 22, 2011
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Garmin Revenue Breakdown

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Garmin revenue breakdown by business segment: 16.2% from Aviation, 24.3% from Auto, 12.1% from Marine, 24.7% from Fitness and 22.6% from Outdoor

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Garmin Online and Social Media Presence

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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 Company Life and Culture

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