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Corporate earnings
Wednesday, 18 February 2026, 6:00 am CST

Garmin announces fourth quarter and fiscal year 2025 results

Reports record fourth quarter and full-year revenue and profit, proposes a 17% dividend increase, and announces new $500 million share repurchase program

Schaffhausen, Switzerland/February 18, 2026/PR Newswire – Garmin® Ltd. (NYSE: GRMN), today announced results for the fourth quarter ended December 27, 2025.

Highlights for fourth quarter 2025 include:

  • Consolidated revenue of $2.12 billion, a 17% increase compared to the prior-year quarter
  • Gross margin of 59.2% compared to 59.3% in the prior-year quarter
  • Operating margin expanded to 28.9% compared to 28.3% in the prior-year quarter
  • Operating income was $614 million, a 19% increase compared to the prior-year quarter
  • GAAP EPS of $2.73 and pro forma EPS(1) of $2.79, representing 16% growth in pro forma EPS over the prior-year quarter
  • Launched the GPSMAP® 9000xsv series of superior chartplotters designed for captains and anglers that demand world-class performance
  • Announced collaboration with Truemed to assist customers who wish to use pre-tax Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) for qualifying purchases of select Garmin products
  • Enhanced Garmin Connect+ with nutrition tracking and insights powered by AI-based Garmin Active Intelligence™ to help users achieve nutrition goals
  • Honored with five Consumer Electronic Show (CES) 2026 Innovation Awards for groundbreaking achievements in technology across various categories

Highlights for fiscal year 2025 include:

  • Achieved record consolidated revenue of $7.25 billion, a 15% increase compared to the prior year
  • All segments posted record full-year revenue
  • Shipped over 20 million units, a new record
  • Gross margin of 58.7% consistent with the prior year
  • Operating margin expanded to 25.9% compared to 25.3% in the prior year
  • Record operating income of $1.88 billion, an 18% increase compared to the prior year
  • GAAP EPS of $8.59 and record pro forma EPS(1) of $8.56, representing 16% growth in pro forma EPS over the prior year

View the PDF for the full press release and financial statements.

About Garmin International, Inc.

Garmin Ltd. (NYSE: GRMN) is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, the Garmin logo, GPSMAP, Venu, fēnix, Forerunner, and inReach are trademarks of Garmin Ltd. or its subsidiaries and are registered in one or more countries, including the U.S. D2, DriveTrack, Descent, Blaze, Garmin Connect, Garmin Active Intelligence, Garmin G5000H, Garmin Unified Cabin and Garmin OnBoard are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 28, 2024, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983), and the Quarterly Report on Form 10-Q for the quarter ended September 26, 2025 filed by Garmin with the Securities and Exchange Commission (Commission file number 001-41118). Copies of such Form 10-K and Form 10-Q are available at https://www.garmin.com/en-US/investors/sec/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact

Investor Relations Contact:
Teri Seck
913-397-8200
[email protected]

Media Relations Contact:
Krista Klaus
913-397-8200
[email protected]

Public Company Information

NYSE: GRMN