Established in 1989, Garmin is a leading manufacturer of marine, aviation, and consumer technologies suitable to run on the Global Positioning System (GPS). It has delivered more than 100 million products, most of them enabled with GPS, which is far more than any other navigation provider. Customers ranked high to Garmin products because they are easy to use and high in quality.
Olathe, US
Size (employees)
11,600 (est)
Garmin was founded in 1989 and is headquartered in Olathe, US
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Key People/Management at Garmin

Clifton Pemble

Clifton Pemble

President and CEO
Min Kao

Min Kao

Executive Chairman
Doug Boessen

Doug Boessen

Chief Financial Officer and Treasurer
Andrew Etkind

Andrew Etkind

Vice President, General Counsel and Secretary

Garmin Office Locations

Garmin has an office in Olathe, Southampton, Xizhi District, Salem and in 16 other locations
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 Financials

Garmin's revenue was reported to be $3.02 b in FY, 2016 which is a 7% increase from the previous period.

Revenue (Q3, 2017)

743.1 m

Gross profit (Q3, 2017)

433.7 m

Gross profit margin (Q3, 2017), %


Net income (Q3, 2017)

147.4 m

EBIT (Q3, 2017)

169.8 m

Market capitalization (5-Feb-2018)

12.3 b

Cash (2-Feb-2018)

891.3 m
Garmin's current market capitalization is $12.3 b.
USDFY, 2013FY, 2014FY, 2015FY, 2016


2.6 b2.9 b2.8 b3 b

Revenue growth, %


Cost of goods sold

1.2 b1.3 b1.3 b1.3 b

Gross profit

1.4 b1.6 b1.5 b1.7 b
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017


643.6 m583.2 m777.8 m706.3 m585.4 m773.8 m679.7 m624 m811.6 m722.3 m638.5 m816.9 m743.1 m

Cost of goods sold

290.7 m252.4 m333.4 m308 m241.3 m354.6 m317.5 m284.2 m348.7 m316.3 m266.4 m339 m309.4 m

Gross profit

352.9 m330.8 m444.5 m398.2 m344.1 m419.3 m362.2 m339.9 m463 m406 m372.1 m477.9 m433.7 m

Gross profit Margin, %

usdY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016


1.1 b1.3 b1.3 b1.2 b1.2 b1.2 b833.1 m846.9 m

Accounts Receivable


55.2 m48.6 m81.6 m484.8 m

Current Assets

2.6 b2.5 b2.2 b2.3 b
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017


1.1 b1.1 b1.2 b1.2 b1.2 b938.2 m914.9 m857.7 m801.5 m912.6 m833.6 m859.6 m891.3 m

Accounts Receivable

475.7 m427.5 m497 m478.7 m425.7 m502 m431.9 m408.3 m510.3 m461.4 m391.3 m514.9 m457.4 m


416.7 m442 m429.7 m466.5 m470.4 m458.5 m503.2 m517.8 m508.2 m534.7 m533.2 m525.2 m107.3 m

Current Assets

2.4 b2.4 b2.5 b2.4 b2.5 b2.3 b2.2 b2.1 b2.2 b2.2 b2.2 b2.3 b2.3 b
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

612.4 m364.2 m456.2 m510.8 m

Depreciation and Amortization

48.5 m48.4 m51.3 m55.8 m


(18 m)(76 m)(120 m)(2.5 m)

Accounts Payable

18 m9 m36.1 m(11.5 m)
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017

Net Income

187.7 m118.8 m182 m(146.8 m)66.8 m137.8 m119.3 m88.1 m161.1 m125.1 m237.8 m147.4 m


107.3 m

Accounts Payable

132.6 m144.9 m125.7 m146.1 m158.7 m137.2 m151.9 m148 m136.9 m158.6 m
USDY, 2017


64.1 k

Financial Leverage

1.3 x
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Garmin Operating Metrics

FY, 2014FY, 2015FY, 2016

Patents Issued

880 950 1.05 k


610 640 700
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Garmin Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
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
Fusion Electronics June 30, 2014
Nexus Marine AB September 13, 2012
Garmin Chile Lda. December 22, 2011
Tri-Tronics June 24, 2011
Navigon June 14, 2011
Belanor AS October 21, 2010
MetriGear September 20, 2010
Sportsmanship International AB October 02, 2008
Navcor Oy June 29, 2008
Formar Electronics N.V./S.A. May 29, 2008
Fairpoint Navigation A/S January 16, 2008
Garmin Italia S.p.A. August 02, 2007
Garmin Iberia SA July 16, 2007
Garmin Deutschland GmbH July 03, 2007
Nautamatic Marine Systems March 27, 2007
Digital Cyclone January 04, 2007$45 m
EME Tec Sat SAS January 03, 2007
Dynastream Innovations November 30, 2006$36 m
MotionBased Technologies October 09, 2005
UPS Aviation Technologies July 23, 2003$38 m
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Garmin News and Updates

Satellite-based Automatic Identification Systems arket Trends & Forecast to 2025- Industry Analysis by Geographical Regions has added a new report titled “Global Satellite-based Automatic Identification Systems Report”, to the database, the report focuses on Product Price, Profit, Capacity, Production, Capacity Utilization, Supply, Demand and Industry Growth. Posted via Industry Today. Follow us on Twitter…

Automotive Over the Air (OTA) Updates Global Market 2018: Key Players – Blackberry Limited, Garmin Ltd, Harman International Industries, NXP Semiconductors, Verizon Communications

Automotive Over the Air (OTA) Updates -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2023 Posted via Industry Today. Follow us on Twitter @IndustryToday

Cycle Computer Global Market 2018: Key Players – Garmin, CatEye, Pioneer Electronics, VDO Cyclecomputers, Sigma Sport

Cycle Computer -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2023 Posted via Industry Today. Follow us on Twitter @IndustryToday

Helmet Cameras Market 2018 Receives a Rapid Boost in Economy due to High Emerging Demands by Forecast to 2022

“Global Helmet Cameras Market Professional Survey Report 2018” newly adds in database. This report covers leading key company profiles with information such as business overview, regional analysis, consumption, revenue and specification. Posted via Industry Today. Follow us on Twitter…

Automotive Embedded System Market to 2025-Global Analysis and Forecasts by Solutions (Software and Hardware); Component (Memory Devices, Microcontrollers, Sensor and Drivers); and Application (Powertrain & Chassis Control, Body Electronics, Multimedia and

Systems include high level of algorithms which leads to more power consumption and many times it affects the market by short span of electronics also, which can be restraining factors in the market. By way of changes in system architecture, modifications in software development and enhancement of in…

Glass Cockpit Market 2018 Overview by Top Key Players -Thales SA, Aspen Avionics, Garmin

Global Glass Cockpit Market Report 2018-2025 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this mar…
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