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, US
Websitegarmin.com
Employee Ratings4.1
Overall CultureA-

Latest Updates

Employees (est.) (Dec 2019)15,000(+16%)
Revenue (FY, 2019)$3.8 B(+13%)
Share Price (Jan 2021)$121
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, Oberpremstätten and in 25 other locations
Olathe, KS, US (HQ)
1200 E 151st St
Salem, OR, US
2345 Turner Rd SE
Eastern Creek, AU
30 Clay Pl
Oberpremstätten, AT
Seering 7
Evere, BE
Pieter Dupontstraat 165
Las Condes, CL
Rosario Nte 660
Show all (29)

Garmin Financials and Metrics

Garmin Revenue

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Garmin's revenue was reported to be $3.76 b in FY, 2019 which is a 12.2% increase from the previous period.
USD

Revenue (Q3, 2020)

1.1b

Gross profit (Q3, 2020)

668.0m

Gross profit margin (Q3, 2020), %

60.2%

Net income (Q3, 2020)

313.4m

EBIT (Q3, 2020)

317.1m

Market capitalization (15-Jan-2021)

23.1b

Closing stock price (15-Jan-2021)

121.0

Cash (26-Sept-2020)

1.2b

EV

22.0b
Garmin's current market capitalization is $23.1 b.
Annual
USDFY, 2017FY, 2018FY, 2019

Revenue

3.1b3.3b3.8b

Revenue growth, %

2%8%12%

Cost of goods sold

1.3b1.4b1.5b

Gross profit

1.8b2.0b2.2b
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

710.9m894.5m810.0m766.1m954.8m934.4m856.1m869.9m1.1b

Cost of goods sold

284.3m371.2m329.3m314.4m379.5m366.9m349.2m354.4m441.2m

Gross profit

426.5m523.3m480.7m451.7m575.4m567.5m506.9m515.4m668.0m

Gross profit Margin, %

60%59%59%59%60%61%59%59%60%
Annual
USDFY, 2017FY, 2018FY, 2019

Cash

891.5m1.2b1.0b

Accounts Receivable

590.9m569.8m706.8m

Inventories

517.6m561.8m752.9m

Current Assets

2.4b2.7b3.1b
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Cash

899.0m946.7m1.1b1.1b820.2m976.4m1.0b1.4b1.2b

Accounts Receivable

409.7m533.1m467.8m453.1m583.9m558.3m500.2m523.9m658.0m

Prepaid Expenses

174.6m163.5m187.7m

Inventories

547.4m501.5m556.6m598.4m648.1m749.8m790.2m813.2m821.4m
Annual
USDFY, 2017FY, 2018FY, 2019

Net Income

695.0m694.1m952.5m

Depreciation and Amortization

86.3m96.2m106.2m

Inventories

(38.6m)(82.3m)(170.2m)

Accounts Payable

(17.2m)40.6m26.2m
Quarterly
USDFY, 2017

Revenue/Employee

251.0k

Financial Leverage

1.3 x

P/E Ratio

16.1
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Garmin Operating Metrics

FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Patents Issued

880 950 1.05 k1.10 k1.17 k1.35 k

Trademarks

610 640 700 750 800 900
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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

84/100

SecurityScorecard logo

Garmin Online and Social Media Presence

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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

Learn more on Comparably

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

Garmin Ltd. schedules its fourth quarter 2020 earnings call

SCHAFFHAUSEN, SWITZERLAND/Jan. 19, 2021/Business Wire — Garmin® Ltd. (Nasdaq: GRMN) invites shareholders and investors to listen to its fourth quarter 2020 earnings conference call that will be broadcast over the Internet on Wednesday, February 17, 2021 at 10:30 a.m. ET, with executives of Garmin. T…

Garmin Receives Consecutive Supplier of the Year Awards from Embraer

Embraer awarded the Garmin aviation team with its 11th Supplier of the Year award in the past 10 years. The Supplier of the Year distinction was presented in the Electric and Electronic Systems category for the G3000® Prodigy Touch flight deck systems in the Phenom 100EV and Phenom 300E. “We are hon…

Any Body Can Do It

Mirna Valerio is an ultrarunner, an author and an inspiration. She’s also one of our Women of Adventure. Mirna may not be what you imagine when you think of an ultrarunner who climbs mountains, and that’s OK. She likes to surprise people. Moreover, she loves to inspire people. Throughout her athleti…

Garmin Social Sweepstakes: Start Strong

OFFICIAL RULES NO PURCHASE NECESSARY TO ENTER OR WIN.  MUST BE 18 YEARS OF AGE OR OLDER TO ENTER.  VOID WHERE PROHIBITED BY LAW.  ELIGIBILITY:  The Sweepstakes is open only to individuals who are legal residents of the 50 United States (excluding Puerto Rico residents) or the District of Columbia, a…

Garmin receives consecutive Supplier of the Year awards from Embraer

OLATHE, Kan./Jan. 13, 2021/Business Wire – Garmin® International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced that it received its 11th Supplier of the Year award from Embraer in a virtual ceremony last month. The Supplier of the Year distinction was presented to Garmin in the Electri…

Q&A with Captain Rick Murphy

You might know Rick Murphy as the host of one your favorite fishing shows, but we’re asking Captain Murphy questions no one has ever thought to ask. The post Q&A with Captain Rick Murphy appeared first on Garmin Blog.
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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 $3.8 b.

  • What is Garmin revenue per employee?

    Latest Garmin revenue per employee is $250.5 k.

  • Who are Garmin competitors?

    Competitors of Garmin include Honeywell Aerospace, Alpine Electronics Of America and Casio Computer.

  • 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, Oberpremstätten and in 25 other locations.

  • How many offices does Garmin have?

    Garmin has 29 offices.