Garmin (GRMN) Gross Margin (2009 - 2026)
Garmin (GRMN) posted Gross Margin of 59.44% for Q1 2026, little changed sequentially from 59.21% in Q4 2025, and up 182.0% YoY from 21.08% in Q1 2025.
Garmin (GRMN) Gross Margin (2009 - 2026) Analysis & Trends
Garmin (GRMN) has 17 years of Gross Margin data on file, last reported at 59.44% in Q1 2026.
- Quarterly Gross Margin rose 182.0% year-over-year to 59.44% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 59.14% (up 55.0% YoY) and the FY2025 annual result came in at 58.74%, up 4.0% from the prior year.
- Gross Margin held at 59.44% in Q1 2026 per GRMN's latest filing, from 59.21% in the prior quarter.
- The five-year high for Gross Margin was 60.0% in Q3 2024, with the low at 56.49% in Q1 2022.
- Average Gross Margin over 5 years is 58.21%, with a median of 58.29% recorded in 2023.
- Year-over-year, Gross Margin tumbled 333 bps in 2022 and surged 297 bps in 2024.
- Garmin's Gross Margin stood at 57.03% in 2022, then rose by 2 bps to 58.29% in 2023, then advanced by 2 bps to 59.25% in 2024, then declined by 0 bps to 59.21% in 2025, then grew by 0 bps to 59.44% in 2026.
- Business Quant data shows GRMN's Gross Margin at 59.44% in Q1 2026, 59.21% in Q4 2025, and 59.09% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coherent | 3,591.32 Bn | 3,590.02 Bn | 679.95 Mn | 37.66% |
| 2 | Novanta | 69.39 Bn | 69.00 Bn | 113.58 Mn | 44.07% |
| 3 | Keysight Technologies | 57.75 Bn | 55.57 Bn | 995.00 Mn | 62.19% |
| 4 | Teledyne Technologies | 30.63 Bn | 30.33 Bn | 673.80 Mn | 43.19% |
| 5 | Fortive | 19.14 Bn | 18.79 Bn | 675.50 Mn | 63.17% |
| 6 | Trimble | 12.33 Bn | 12.10 Bn | 646.30 Mn | 68.76% |
| 7 | Cognex | 11.87 Bn | 11.58 Bn | 190.94 Mn | 71.13% |
| 8 | Sensata Technologies Holding | 6.78 Bn | 6.14 Bn | 286.30 Mn | 30.63% |
| 9 | Garmin | 4.63 Bn | 1.93 Bn | 1.04 Bn | 59.44% |
| 10 | Badger Meter | 4.28 Bn | 4.07 Bn | 84.33 Mn | 41.69% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 28, 2026 | 59.44% |
| Dec 27, 2025 | 59.21% |
| Sep 27, 2025 | 59.09% |
| Jun 28, 2025 | 58.80% |
| Mar 29, 2025 | 57.62% |
| Dec 28, 2024 | 59.25% |
| Sep 28, 2024 | 60.00% |
| Jun 29, 2024 | 57.27% |
| Mar 30, 2024 | 58.06% |
| Dec 30, 2023 | 58.29% |
| Sep 30, 2023 | 57.03% |
| Jul 1, 2023 | 57.50% |
| Apr 1, 2023 | 56.89% |
| Dec 31, 2022 | 57.03% |
| Sep 24, 2022 | 58.79% |
| Jun 25, 2022 | 58.74% |
| Mar 26, 2022 | 56.49% |
| Dec 25, 2021 | 55.48% |
| Sep 25, 2021 | 58.39% |
| Jun 26, 2021 | 58.85% |