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Garmin (GRMN) Cost of Revenue: 2009-2024

Historic Cost of Revenue for Garmin (GRMN) over the last 15 years, with Dec 2024 value amounting to $2.6 billion.

  • Garmin's Cost of Revenue rose 14.18% to $724.4 million in Q3 2025 from the same period last year, while for Sep 2025 it was $2.9 billion, marking a year-over-year increase of 15.71%. This contributed to the annual value of $2.6 billion for FY2024, which is 16.96% up from last year.
  • According to the latest figures from FY2024, Garmin's Cost of Revenue is $2.6 billion, which was up 16.96% from $2.2 billion recorded in FY2023.
  • In the past 5 years, Garmin's Cost of Revenue registered a high of $2.6 billion during FY2024, and its lowest value of $1.7 billion during FY2020.
  • Its 3-year average for Cost of Revenue is $2.3 billion, with a median of $2.2 billion in 2023.
  • Per our database at Business Quant, Garmin's Cost of Revenue climbed by 22.70% in 2021 and then declined by 1.86% in 2022.
  • Over the past 5 years, Garmin's Cost of Revenue (Yearly) stood at $1.7 billion in 2020, then increased by 22.70% to $2.1 billion in 2021, then dropped by 1.86% to $2.1 billion in 2022, then rose by 8.27% to $2.2 billion in 2023, then rose by 16.96% to $2.6 billion in 2024.