Company Growth (employees)
Garmin was founded in 1989 and is headquartered in Olathe, US
Key People at Garmin
Min Kao
Chairman and CEO
Clifton Pemble
President and chief operating officer
Doug Boessen
Chief Financial Officer and Treasurer
Garmin Office Locations
Garmin has offices in Olathe, Southampton, Xizhi District, Salem and in 16 other locations
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
Garmin Data and Metrics
Garmin Financial Metrics
Garmin's revenue was reported to be $638.5 m in Q1, 2017
USD
Revenue (Q1, 2017) | 638.5 m |
Gross profit (Q1, 2017) | 372.1 m |
Gross profit margin (Q1, 2017), % | 58% |
Net income (Q1, 2017) | 237.8 m |
EBIT (Q1, 2017) | 116.3 m |
Market capitalization (22-Aug-2017) | 9.7 b |
Cash (01-Apr-2017) | 833.6 m |
Garmin's current market capitalization is $9.7 b.
- Source: Company Filings
| USD | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|---|---|---|
Revenue | 2.6 b | 2.9 b | 2.8 b | 3 b | |||
Revenue growth, % | 9% | (2%) | 7% | ||||
Cost of goods sold | 1.3 b | 1.4 b | 1.3 b | 1.2 b | 1.3 b | 1.3 b | 1.3 b |
Gross profit | 1.4 b | 1.6 b | 1.5 b | 1.7 b | |||
Gross profit Margin, % | 53% | 56% | 55% | 56% | |||
General and administrative expense | 410.6 m | ||||||
Operating expense total | 410.6 m | ||||||
EBIT | 574 m | 690.6 m | 549.6 m | 623.9 m | |||
EBIT margin, % | 22% | 24% | 19% | 21% | |||
Interest expense | 1.2 m | ||||||
Interest income | 29.7 m | 33.4 m | |||||
Pre tax profit | 567.2 m | 629.7 m | |||||
Income tax expense | 111 m | 118.9 m | |||||
Net Income | 612.4 m | 364.2 m | 456.2 m | 510.8 m |
| USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | 777.8 m | 706.3 m | 585.4 m | 773.8 m | 679.7 m | 624 m | 811.6 m | 722.3 m | 638.5 m |
Cost of goods sold | 333.4 m | 308 m | 241.3 m | 354.6 m | 317.5 m | 284.2 m | 348.7 m | 316.3 m | 266.4 m |
Gross profit | 444.5 m | 398.2 m | 344.1 m | 419.3 m | 362.2 m | 339.9 m | 463 m | 406 m | 372.1 m |
Gross profit Margin, % | 57% | 56% | 59% | 54% | 53% | 54% | 57% | 56% | 58% |
EBIT | 218.8 m | 175.5 m | 111.7 m | 166.7 m | 125.5 m | 103.8 m | 200.7 m | 159.6 m | 116.3 m |
EBIT margin, % | 28% | 25% | 19% | 22% | 18% | 17% | 25% | 22% | 18% |
Interest income | 9.7 m | 9.3 m | 8 m | 7.4 m | 6.9 m | 7.4 m | 8.5 m | 8.2 m | 8.4 m |
Pre tax profit | 208.7 m | 172.7 m | 76.2 m | 173.6 m | 164.9 m | 107.5 m | 203.8 m | 149.8 m | 87.7 m |
Net Income | 182 m | (146.8 m) | 66.8 m | 137.8 m | 119.3 m | 88.1 m | 161.1 m | 125.1 m | 237.8 m |
- Source: Company Filings
| USD | Y, 2009 | Y, 2010 | Y, 2011 | Y, 2012 | Y, 2013 | Y, 2014 | Y, 2015 | FY, 2016 |
|---|---|---|---|---|---|---|---|---|
Cash | 1.1 b | 1.3 b | 1.3 b | 1.2 b | 1.2 b | 1.2 b | 833.1 m | 846.9 m |
Inventories | 55.2 m | 48.6 m | 81.6 m | 484.8 m | ||||
Current Assets | 2.6 b | 2.5 b | 2.2 b | 2.3 b | ||||
PP&E | 414.8 m | 430.9 m | ||||||
Total Assets | 4.9 b | 4.7 b | 4.5 b | 4.5 b | ||||
Accounts Payable | 146.6 m | 149.1 m | 178.9 m | 172.4 m | ||||
Current Liabilities | 905.3 m | 1 b | 866 m | 782.7 m | ||||
Additional Paid-in Capital | 79.3 m | 73.5 m | 62.2 m | 1.8 b | ||||
Retained Earnings | 1.9 b | 1.9 b | 1.9 b | 2.1 b | ||||
Total Equity | 3.7 b | 3.4 b | 3.3 b | 3.4 b | ||||
Financial Leverage | 1.3 x | 1.4 x | 1.3 x | 1.3 x |
| USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|---|---|---|
Cash | 1.2 b | 1.2 b | 1.2 b | 938.2 m | 914.9 m | 857.7 m | 801.5 m | 912.6 m | 833.6 m |
Accounts Receivable | 497 m | 478.7 m | 425.7 m | 502 m | 431.9 m | 408.3 m | 510.3 m | 461.4 m | 391.3 m |
Inventories | 429.7 m | 466.5 m | 470.4 m | 458.5 m | 503.2 m | 517.8 m | 508.2 m | 534.7 m | 533.2 m |
Current Assets | 2.5 b | 2.4 b | 2.5 b | 2.3 b | 2.2 b | 2.1 b | 2.2 b | 2.2 b | 2.2 b |
PP&E | 428.5 m | 431.8 m | 436.1 m | 445.7 m | 439.1 m | 449 m | 450.7 m | 454.2 m | 503.8 m |
Total Assets | 4.7 b | 4.7 b | 4.5 b | 4.4 b | 4.4 b | 4.4 b | 4.5 b | 4.6 b | 4.6 b |
Accounts Payable | 132.6 m | 144.9 m | 125.7 m | 146.1 m | 158.7 m | 137.2 m | 151.9 m | 148 m | 136.9 m |
Current Liabilities | 969.3 m | 1.1 b | 824.3 m | 961.7 m | 894.7 m | 680.7 m | 1 b | 920 m | 571.5 m |
Additional Paid-in Capital | 87.4 m | 92.1 m | 80.6 m | 85.2 m | 89.9 m | 70.4 m | 73.3 m | 1.9 b | 1.8 b |
Retained Earnings | 1.8 b | 1.6 b | 1.9 b | 1.7 b | 1.8 b | 2 b | 1.8 b | 1.9 b | 2.3 b |
Total Equity | 3.5 b | 3.2 b | 3.5 b | 3.2 b | 3.2 b | 3.4 b | 3.2 b | 3.4 b | 3.7 b |
Financial Leverage | 1.4 x | 1.4 x | 1.3 x | 1.4 x | 1.4 x | 1.3 x | 1.4 x | 1.4 x | 1.2 x |
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Net Income | 612.4 m | 364.2 m | 456.2 m | 510.8 m |
Depreciation and Amortization | 48.5 m | 48.4 m | 51.3 m | 55.8 m |
Accounts Receivable | 38.6 m | (27 m) | 22.5 m | 9 m |
Inventories | (18 m) | (76 m) | (120 m) | (2.5 m) |
Accounts Payable | 18 m | 9 m | 36.1 m | (11.5 m) |
Cash From Operating Activities | 630.1 m | 522.7 m | 280.5 m | 705.7 m |
Purchases of PP&E | (56.1 m) | (73.3 m) | (80.6 m) | (91 m) |
Cash From Investing Activities | (274.4 m) | 131.3 m | (112 m) | (121.5 m) |
Cash From Financing Activities | (406.8 m) | (599.6 m) | (500.1 m) | (561.7 m) |
Income Taxes Paid | 73.4 m | 175.5 m | 252.9 m | 115.5 m |
| USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|---|---|---|
Net Income | 182 m | (146.8 m) | 66.8 m | 137.8 m | 119.3 m | 88.1 m | 161.1 m | 125.1 m | 237.8 m |
Accounts Receivable | 497 m | 478.7 m | 425.7 m | 502 m | 431.9 m | 408.3 m | 510.3 m | 461.4 m | 391.3 m |
Accounts Payable | 132.6 m | 144.9 m | 125.7 m | 146.1 m | 158.7 m | 137.2 m | 151.9 m | 148 m | 136.9 m |
| Y, 2017 | |
|---|---|
Financial Leverage | 1.2 x |
Garmin Operating Metrics
Garmin Market Value History
Garmin Revenue Breakdown
Market Position of Garmin
Traffic Overview of Garmin
Garmin Online and Social Media Presence
Garmin News and Updates
May 16, 2017
Garmin's vívosmart 3 finally takes fitness tracking to the gym
Garmin is looking to solve one of the biggest issues facing wearables with its latest release, the vívosmart 3: How can an activity tracker be useful in the weight room?
Just about every fitness tracker I've ever worn is more focused on counting steps and logging runs than anything else. I run,…
March 29, 2017
Garmin announces a new watch just for runners and those who think they are runners
Garmin is back again with the Forerunner 935, a runner-specific sport watch with GPS, heart rate, and compatibility with the Garmin Running Dynamics Pod that offers further information about your speed, gait, and how often you double over in absolute agony as your unexercised organs scream from ins…
February 08, 2017
How Garmin is breaking new ground in digital advertising (VB Live)
VB LIVE: It’s science: Purchase decisions are driven by emotion. Join GPS technology giant Garmin and advertising technology leader Undertone to learn how to develop pitch-perfect creative that sparks connection and amps up conversions. Access this VB Live event on demand right here. “Digital can be…
January 10, 2017
Why Garmin gave creative a seat at the marketing table (VB Live)
VB LIVE: The heart of your campaigns is effective creative — but are your campaigns being stunted by siloed departments? Learn more about how personal tech leader Garmin reshaped their marketing department to gain huge marketing wins in our latest VB Live event. Register here for free. During her th…
January 04, 2017
How personal tech giant Garmin turned data + creative into a 9.7x return on ad spend (VB Live)
VB LIVE: The very best marketing campaigns grab their audience by the gonads — but it takes data to figure out exactly what goes into reaching out and touching someone. Join GPS technology giant Garmin for insight into turning analytics into powerful creative that gets bottom line results. Register …
January 04, 2017
Garmin makes a multisport watch for (slightly) smaller wrists
Garmin never heads to a CES without a whole bunch of different products in two. Along with a whole bunch of in-car GPS devices (yes, people still make and buy in-car GPS devices), the navigation-turned-wearable maker is expanding its fitness focused offerings with the addition of a trio of new Feni…