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.

Olathe, 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 (Q1, 2018)

710.9 m

Gross profit (Q1, 2018)

426.5 m

Gross profit margin (Q1, 2018), %


Net income (Q1, 2018)

129.4 m

EBIT (Q1, 2018)

142.2 m

Market capitalization (18-Jul-2018)

12.1 b

Closing share price (18-Jul-2018)


Cash (31-Mar-2018)

899 m
Garmin's current market capitalization is $12.1 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, 2018


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

Accounts Receivable

425.7 m502 m431.9 m408.3 m510.3 m461.4 m391.3 m514.9 m457.4 m409.7 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 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, 2018

Net Income

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

Depreciation and Amortization

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

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)
USDY, 2018

Financial Leverage

1.2 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
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
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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

Motorcycle Infotainment System Market- increasing demand with Industry Professionals: Harman, Garmin, TomTom & Clarion

HTF MI recently introduced new title on “Global Motorcycle Infotainment System Market Size, Status and Forecast 2025” from its database. The report provides study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2025. Posted via Indust…

Insights on the Growth of Wearable Tracking Devices Market - Know About Technology Aspects, Analysis by Regions, Future Outlook, Competitive Analysis – Forecast to 2027

Wearable Tracking Devices Market report explores Scope of the Study as Research Objective, Assumptions and Limitations in-depth. The report gives Market Dynamics by Drivers, Restraints, Opportunities, Challenges, Macroeconomic Indicators and Technology Trends & Assessment. Posted via Industry To…

Fitness Tracker Consumption Market Application and Growth Analysis 2018 by Top Key Players(Apple, Epson, Garmin, Jawbone, Nike, Nike, XiaoMi, Fitbit, Under Armour, Samsung and Others)

Fitness Tracker Consumption Market report offers a detailed Outlook and future prospects of the Fitness Tracker Consumption Industry with analysis of major players that helps Industry experts, analysts and business decision makers to decide their business strategies and achieve proposed business aim…

Ship Radar Market Trends Outlook to 2023 by Top Companies - Furuno, Navico, JRC (Alphatron Marine), Garmin, SAM Electronics, Transas Marine International, Raymarine, Raytheon and Others

Ship Radar Market report offers a detailed Outlook and future prospects of the Ship Radar Industry with analysis of major players that helps Industry experts, analysts and business decision makers to decide their business strategies and achieve proposed business aims. Posted via Industry Today. Foll…

Garmin Edge 1030 vs. the iPhone X

Our lead bike reviewer set out to answer the question: Do you really need all the fancy riding tech, or will a smartphone suffice?

Garmin just unveiled a new series of $700 smartwatches for serious athletes — here's what they can do (GRMN)

Garmin's line of high-end smartwatches just got a major upgrade. On Monday, Garmin unveiled its series of Fenix 5 Plus smartwatches. The three watches — the Fenix 5S Plus, the Fenix 5 Plus, and the Fenix 5X Plus — are upgrades to Garmin's Fenix 5 line, which it launched last year.  The new watches …
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Garmin Company Life and Culture

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