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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.

TypePublic
Founded1989
HQOlathe, US
Websitegarmin.com
Employee Ratings3.8

Latest Updates

Employees (est.) (Dec 2018)13,000(+6%)
Job Openings556
Revenue (FY, 2018)$3.3 B(+9%)
Share Price (Mar 2019)$83.6 (-1%)

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, Salem, Southampton and Xizhi District
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 $3.35 b in FY, 2018
USD

Revenue (FY, 2018)

3.3b

Gross profit (FY, 2018)

2.0b

Gross profit margin (FY, 2018), %

59.1%

Net income (FY, 2018)

694.1m

EBIT (FY, 2018)

778.3m

Market capitalization (22-Mar-2019)

15.8b

Closing stock price (22-Mar-2019)

83.6

Cash (29-Dec-2018)

1.2b
Garmin's current market capitalization is $15.8 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

2.9b2.8b3.0b3.1b3.3b

Revenue growth, %

9%(2%)7%2%

Cost of goods sold

1.3b1.3b1.3b1.3b1.4b

Gross profit

1.6b1.5b1.7b1.8b2.0b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

1.2b1.2b833.1m846.9m891.5m1.2b

Accounts Receivable

570.2m531.5m527.1m590.9m

Prepaid Expenses

48.6m81.6m89.9m153.9m

Inventories

382.2m48.6m500.6m484.8m517.6m561.8m
Quarterly
USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2018Q2, 2018Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

1.1b1.2b1.2b1.2b938.2m914.9m857.7m801.5m912.6m833.6m859.6m891.3m899.0m946.7m1.1b

Accounts Receivable

427.5m497.0m478.7m425.7m502.0m431.9m408.3m510.3m461.4m391.3m514.9m457.4m409.7m533.1m467.8m

Prepaid Expenses

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

Inventories

442.0m429.7m466.5m470.4m458.5m503.2m517.8m508.2m534.7m533.2m525.2m575.3m547.4m501.5m556.6m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

612.4m364.2m456.2m510.8m695.0m694.1m

Depreciation and Amortization

78.8m48.4m78.4m86.3m86.3m96.2m

Inventories

(17.6m)(76.0m)(121.7m)(2.5m)(38.6m)(82.3m)

Accounts Payable

18.0m9.0m36.1m(11.5m)(17.2m)40.6m
USDY, 2018

Revenue/Employee

264.6k

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

Trademarks

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 Blogs

Aviation Database Coverage and Capabilities Expanded in Australia

We have received approval of a CASR 175.C Data Service Provider (DSP) certificate from the Civil Aviation Safety Authority (CASA), enabling expanded aviation database coverage in Australia. In addition to the integration of Airservices Australia data into the suite of Garmin databases, Garmin Pilot …

IBBI names Garmin its 2018 Supplier of the Year

Garmin International, Inc. today announced that it received the prestigious Supplier of the Year distinction from the Independent Boat Builders, Inc. (IBBI), the industry’s largest purchasing cooperative comprised of a 19-member network of leading boat brands that collectively build nearly 25% of al…

Garmin Pilot Adds FltPlan.com Integration, AOPA FBO Fees and More

Our latest version of Garmin Pilot — version 9.6 —  includes an expanded feature set designed to increase  integration with FltPlan.com, and provide pilots with additional information about their destination airport prior to flight, en route, or upon arrival. New to version 9.6, pilots can seamlessl…

Garmin Connect IQ Developer Summit 2019 Agenda

The post Garmin Connect IQ Developer Summit 2019 Agenda appeared first on Garmin Blog.

Women of Aviation Week 2019

Each year at the beginning of March, the aviation community celebrates the anniversary of the world’s first female pilot license, earned by Raymonde de Laroche on March 8, 1910. Women of Aviation Week was established on the centennial anniversary of this achievement in 2010 to not only honor this ac…

Garmin Earns Best Supplier Award From Embraer for Tenth Time

On February 28, 2019, at the annual Embraer Suppliers Conference at Embraer’s facility in Sao Jose dos Campos, Brazil, we were honored with the best supplier of the year award for the 10th time. Our team was named the best supplier for Electrical Systems of the Year related to the support of the G10…
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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 A. Pemble and Doug Boessen.

  • How many employees does Garmin have?

    Garmin has 13,000 employees.

  • What is Garmin revenue?

    Latest Garmin annual revenue is $3.3 b.

  • What is Garmin revenue per employee?

    Latest Garmin revenue per employee is $257.5 k.

  • Who are Garmin competitors?

    Competitors of Garmin include GoPro, Trimble and Fitbit.

  • Where is Garmin headquarters?

    Garmin headquarters is located at 1200 E 151st St, Olathe.

  • Where are Garmin offices?

    Garmin has offices in Olathe, Salem, Southampton and Xizhi District.

  • How many offices does Garmin have?

    Garmin has 4 offices.