Garmin

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, USMap
Websitegarmin.com
Employee Ratings4.1More
Overall CultureA-More
View Jobs (275)

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Latest Updates

Employees (est.) (Dec 2019)15,000(+16%)
Job Openings275
Revenue (FY, 2020)$4.2 B(+12%)
Share Price (Jun 2021)$142.6
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 18 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
Show all (22)

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 (8-Jun-2021)

27.5b

Closing stock price (8-Jun-2021)

142.6

Cash (27-Mar-2021)

1.6b

EV

26.0b
Garmin's current market capitalization is $27.5 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%
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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
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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)
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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

81/100

Learn more about our premium products
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Garmin Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

Learn more about our premium products
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Garmin Online and Social Media Presence

Garmin's Trends

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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

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Garmin Blogs

June 12, 2021

Surfer Anthony Walsh Uses Garmin Instinct to Ride the Waves

Anthony Walsh wasn’t born with a surfboard in hand, nor a camera — but if you’ve seen him either ride or shoot a wave, it looks pretty darn natural. The way he tells it, his ascension to professional surfer and content creator took place almost by happenstance. “I grew up in a pretty small town […] …
June 11, 2021

Six Reasons to Use an RV Navigator to Explore U.S. National Parks

One of the best things about traveling in your RV is that feeling of freedom — the freedom to drive anywhere, see new sights and make memories every mile of the way. National parks are some of the most amazing places to explore. They put the wonders of Mother Nature right outside your RV door. […] T…
June 10, 2021

Golf Tips with Greg Norman

It’s that time of year. If you’re not working on your golf game, what are you doing? We recently caught up with Greg Norman, who dominated the golf world for 331 weeks, to get his best playing tips. Read what he had to share below. GET READY Greg suggests getting your body ready to play […] The post…
June 09, 2021

Six Reasons You Need a Dash Cam

When considering what you need to give you and your family peace of mind on the road, the list is typically pretty short. Get a comprehensive insurance policy, a reliable car and brush up on your driver’s ed, and you should be good to go, right? Wrong. Those are certainly three critical components, …
June 09, 2021

Stay alert with Garmin’s first connected dash cam series

OLATHE, Kan. /June 9, 2021/Business Wire — Garmin® International, Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced an all-new 2021 voice controlled dash cam series with automatic video storage and Live View monitoring options1 to help drivers capture the moment when incidents occur. Meet …
June 08, 2021

Garmin announces updates to FltPlan SMS, safety management system

OLATHE, Kan./June 8, 2021 – Garmin® International, Inc., a unit of Garmin Ltd., is pleased to announce new updates to the FltPlan safety management system (SMS) that include enhancements to the risk/hazard reports allowing flight crews and ground personnel to more easily report items that added risk…
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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 18 other locations.

  • How many offices does Garmin have?

    Garmin has 22 offices.