Garmin (GRMN) Cost of Revenue (2009 - 2026)
Garmin's Cost of Revenue came in at $728.31 million for Q3 2026, up 0.5% from $724.41 million a year earlier but down 4.2% from the prior quarter.
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Analysis
Garmin (GRMN) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 26, 2026, Garmin reported Cost of Revenue of $3.07 billion, up 7.0% year-over-year; for FY2025, it was $2.99 billion, up 15.0% from FY2024.
- Cost of Revenue has increased in each of the last three years, with a five-year compound annual growth rate of 11.9% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $2.6 billion in FY2024 (+17.0%), $2.22 billion in FY2023 (+8.3%), $2.05 billion in FY2022 (-1.9%) and $2.09 billion in FY2021 (+22.7%).
- The five-year range for quarterly Cost of Revenue is $469.94 million (Q3 2022) to $866.7 million (Q4 2025).
- Year-over-year, Cost of Revenue has increased for 14 consecutive quarters, with growth averaging 11.4% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in Q4 2024 (growth of 20.1%), and the weakest in Q4 2022 (a decline of 9.4%).
- Business Quant data shows GRMN's Cost of Revenue at $760.07 million (Q2 2026), $711.2 million (Q1 2026) and $866.7 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 5,177.41 Bn | 4,922.87 Bn | 54.82 Bn | 59.66 Bn |
| 2 | Cisco Systems | 377.40 Bn | 377.40 Bn | 11.79 Bn | 6.73 Bn |
| 3 | Arista Networks | 249.38 Bn | 198.58 Bn | 2.33 Bn | 1.33 Bn |
| 4 | Dell Technologies | 220.34 Bn | 176.10 Bn | 9.83 Bn | 37.14 Bn |
| 5 | Sony | 166.48 Bn | 103.89 Bn | 7.96 Bn | 13.58 Bn |
| 6 | Sandisk | 127.44 Bn | 112.27 Bn | 9.38 Bn | 1.65 Bn |
| 7 | Seagate Technology Holdings | 121.35 Bn | 116.20 Bn | 2.43 Bn | 1.81 Bn |
| 8 | Western Digital | 110.67 Bn | 100.50 Bn | 2.53 Bn | 1.85 Bn |
| 9 | Hewlett Packard Enterprise | 64.15 Bn | 42.09 Bn | 4.93 Bn | 7.29 Bn |
| 10 | Garmin | 54.56 Bn | 44.11 Bn | 1.26 Bn | 728.31 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 26, 2026 | 728.31 Mn |
| Jun 27, 2026 | 760.07 Mn |
| Mar 28, 2026 | 711.20 Mn |
| Dec 27, 2025 | 866.70 Mn |
| Sep 27, 2025 | 724.41 Mn |
| Jun 28, 2025 | 747.55 Mn |
| Mar 29, 2025 | 650.55 Mn |
| Dec 28, 2024 | 742.64 Mn |
| Sep 28, 2024 | 634.42 Mn |
| Jun 29, 2024 | 643.78 Mn |
| Mar 30, 2024 | 579.51 Mn |
| Dec 30, 2023 | 618.35 Mn |
| Sep 30, 2023 | 548.96 Mn |
| Jul 1, 2023 | 561.35 Mn |
| Apr 1, 2023 | 494.63 Mn |
| Dec 31, 2022 | 561.39 Mn |
| Sep 24, 2022 | 469.94 Mn |
| Jun 25, 2022 | 512.01 Mn |
| Mar 26, 2022 | 510.18 Mn |
| Dec 25, 2021 | 619.48 Mn |
API Access
Garmin Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=GRMN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "GRMN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=GRMN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();