OverviewSuggest Edit

Garmin is a multinational company specializing in GPS technology development. The company 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. It serves the auto, aviation, fitness, marine, and outdoor markets.

TypePublic
Founded1989
HQOlathe, US
Websitegarmin.com
Employee Ratings3.7
Culture scoreA-

Latest Updates

Employees (est.) (Dec 2019)15,000(+16%)
Job Openings65
Revenue (FY, 2019)$3.8 B(+13%)
Share Price (May 2020)$83.9

Key People/Management at Garmin

Min Kao

Min Kao

Executive Chairman
Douglas Boessen

Douglas Boessen

Chief Financial Officer and Treasurer
Clifton Pemble

Clifton Pemble

President and CEO
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, US (HQ)
1200 E 151st St
Salem, 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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View revenue for all periods
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 (Q1, 2020)

856.1m

Gross profit (Q1, 2020)

506.9m

Gross profit margin (Q1, 2020), %

59.2%

Net income (Q1, 2020)

161.2m

EBIT (Q1, 2020)

177.5m

Market capitalization (22-May-2020)

16.0b

Closing stock price (22-May-2020)

83.9

Cash (28-Mar-2020)

1.0b

EV

15.0b
Garmin's current market capitalization is $16 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, 2020

Revenue

710.9m894.5m810.0m766.1m954.8m934.4m856.1m

Cost of goods sold

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

Gross profit

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

Gross profit Margin, %

60%59%59%59%60%61%59%
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, 2020

Cash

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

Accounts Receivable

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

Prepaid Expenses

174.6m

Inventories

547.4m501.5m556.6m598.4m648.1m749.8m790.2m
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
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Net Income

129.4m319.7m503.9m140.2m363.8m591.7m161.2m

Depreciation and Amortization

23.1m48.2m71.5m24.0m50.7m77.6m28.2m

Inventories

(26.5m)(4.7m)(69.1m)(46.6m)(86.1m)(210.6m)(47.3m)

Accounts Payable

(36.7m)1.6m32.6m(32.8m)6.0m27.5m(39.9m)
USDY, 2020

EV/EBIT

84.7 x

EV/CFO

66.5 x

Financial Leverage

1.2 x
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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
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
Fusion ElectronicsJune 30, 2014
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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 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

The Impact of the Global Pandemic on Human Activity: Part III

The Top Line Total worldwide steps decreased by 12% in April 2020 Worldwide steps from just workout activities increased by 24% More people are exercising, but in different ways, to make up for the coronavirus’ suppression of normal daily movement Years from now when we look back at this pandemic, w…

When I Let Go of the Physical Results of Fitness, I Found the Benefits

Exercise is beneficial to much more than just physical appearance – or even physical health. It substantially improves your mental health and emotional well-being. In these times, that is an essential reason to keep moving. We asked Garmin Ambassador Sarah Buchanan to share what motives her to conti…

Five Things to Know Before Buying a Bike Trainer

Bike trainers allows you to train safely in all weather conditions, giving you the convenience of being able to train regardless of the circumstance. If you want to buy an indoor bike trainer, you will find yourself faced with lots of choices. Obviously, for those who have no experience, this can be…

Taking Care of Your Physical and Mental Health in Uncertain Times

Now more than ever it’s important for us to band together and support one another. And investing in your well-being can help improve mood and maintain a sense of normalcy in times that are really not normal at all. That’s why Mindbody and Garmin have teamed up to create a list of tips to help […] Th…

Jimmy Buffett’s Custom-Built 42-footer Includes Full Complement of the Latest Garmin Technology

Jimmy Buffett, the well known singer and mariner, has a new boat that's turning a lot of heads — and not just Parrot Heads. The post Jimmy Buffett’s Custom-Built 42-footer Includes Full Complement of the Latest Garmin Technology appeared first on Garmin Blog.

Garmin 10KADAY Sweepstakes Rules

Garmin 10KADAY Sweepstakes: 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…
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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, Douglas Boessen and Clifton Pemble.

  • 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 Fitbit, Honeywell 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.