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.

Employee Rating

3.8More
TypePublic
HQOlathe, US
Founded1989
Size (employees)12,300 (est)
Websitegarmin.com
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.
USD

Revenue (Q3, 2018)

810.0m

Gross profit (Q3, 2018)

480.7m

Gross profit margin (Q3, 2018), %

59.4%

Net income (Q3, 2018)

184.2m

EBIT (Q3, 2018)

196.0m

Market capitalization (9-Nov-2018)

12.5b

Closing stock price (9-Nov-2018)

66.1

Cash (29-Sep-2018)

1.1b
Garmin's current market capitalization is $12.5 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

2.9b2.8b3.0b3.1b

Revenue growth, %

9%(2%)7%2%

Cost of goods sold

1.3b1.3b1.3b1.3b

Gross profit

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

Cash

1.2b1.2b833.1m846.9m891.5m

Accounts Receivable

570.2m531.5m527.1m590.9m

Prepaid Expenses

48.6m81.6m89.9m153.9m

Inventories

382.2m48.6m500.6m484.8m517.6m
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, 2017

Net Income

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

Depreciation and Amortization

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

Inventories

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

Accounts Payable

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

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

Rebecca Rusch: Sponsored Athlete and Emmy Winner

Rebecca Rusch is a professional athlete, seven time World Champion, and now an Emmy award winner. One of her recent projects, Blood Road, is a documentary of her personal journey of healing and self-discovery. Rusch and her Vietnamese riding partner pedaled 1,200 miles to reach the site where her fa…

How to Inspire Your Kids to Run

By Jacky H., Garmin Ambassador @ncrunnerjacky “Your child will follow your example, not your advice.” I often get asked how I motivate my 5-year-old daughter to run with me. It didn’t just happen by itself, but I was very happy when Eliza started running with me just before her fifth birthday. My ki…

inReach: Searching for a Lost Family Dog

Maria and Roger Hart of New Zealand bought an inReach® satellite communicator as part of their risk management planning in both personal and professional activities. Whether they’re on fishing and hunting trips or managing their beehives, having an inReach device on hand gives them peace of mind. Wh…

Garmin expands GPSMAP 8600/8600xsv Series

Garmin International, Inc. today announced the GPSMAP 8600/8600xsv series, an extension of its flagship GPSMAP 8600 series that brings premium features like built-in sonar and new BlueChart g3 coastal cartography and LakeVü g3 maps with Navionics data and built-in Auto Guidance* to smaller, more aff…

Garmin Redefines Marine Cartography

Garmin International, Inc. today announced BlueChart g3 and LakeVü g3, a new line of cartography products for coastal and inland boating that blend the best of both Garmin and Navionics content together for the first time to deliver unparalleled coverage and detail. The new BlueChart g3 charts and L…

Garmin introduces the inReach Mini Marine Bundle

Garmin International, Inc. today announced the inReach Mini Marine Bundle, a new addition to its popular line of satellite communicators with available two-way messaging, basic naviation and a 24/7 SOS function via the global Iridium® network1 built with the mariner in mind. Designed for life on the…
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Garmin Company Life and Culture

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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 12,300 employees.

  • What is Garmin revenue?

    Latest Garmin annual revenue is $3.1 b.

  • What is Garmin revenue per employee?

    Latest Garmin revenue per employee is $251 k.

  • Who are Garmin competitors?

    Competitors of Garmin include Trimble, Fitbit and Voler Systems.

  • Where is Garmin headquarters?

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

  • Where are Garmin offices?

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

  • How many offices does Garmin have?

    Garmin has 4 offices.