Garmin (GRMN) Gross Margin (2009 - 2026)
Garmin's Gross Margin was 63.33% in Q3 2026, up 4.24 percentage points from 59.09% a year earlier and up 0.92 percentage points from the prior quarter.
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Analysis
Garmin (GRMN) Gross Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Garmin's Gross Margin was 61.12% through Sep 26, 2026, up 2.39 percentage points year-over-year; for FY2025, it came in at 58.74%, up 0.04 percentage points from FY2024.
- Gross Margin shows a five-year change of -0.52 percentage points (FY2020 to FY2025).
- In earlier years, Gross Margin was 58.70% in FY2024 (+1.23 pp), 57.48% in FY2023 (-0.27 pp), 57.75% in FY2022 (-0.26 pp) and 58.01% in FY2021 (-1.26 pp).
- The Q3 2026 figure marks the highest quarterly Gross Margin in data going back to Q1 2009.
- Compared with a year earlier, Gross Margin has increased for three straight quarters, with an average year-over-year change of +1.35 percentage points over the last eight quarters.
- The best year-over-year quarter for Gross Margin over five years was Q3 2026 (a gain of 4.24 percentage points); the worst was Q1 2022 (a drop of 3.33 percentage points).
- Per Business Quant data, GRMN's Gross Margin in the three quarters before Q3 2026 was 62.41% (Q2 2026), 59.44% (Q1 2026) and 59.21% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 5,090.84 Bn | 4,836.31 Bn | 54.82 Bn | 47.89% |
| 2 | Cisco Systems | 390.99 Bn | 326.92 Bn | 11.06 Bn | 64.13% |
| 3 | Arista Networks | 240.45 Bn | 189.65 Bn | 2.33 Bn | 63.59% |
| 4 | Dell Technologies | 219.04 Bn | 174.80 Bn | 9.83 Bn | 20.93% |
| 5 | Sony | 158.27 Bn | 38.21 Bn | - | - |
| 6 | Sandisk | 129.40 Bn | 114.23 Bn | 9.38 Bn | 85.01% |
| 7 | Seagate Technology Holdings | 114.31 Bn | 109.16 Bn | 2.43 Bn | 57.34% |
| 8 | Western Digital | 105.81 Bn | 95.63 Bn | 2.53 Bn | 57.84% |
| 9 | Hewlett Packard Enterprise | 63.81 Bn | 41.69 Bn | 4.93 Bn | 40.34% |
| 10 | Garmin | 55.33 Bn | 44.88 Bn | 1.26 Bn | 63.33% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 26, 2026 | 63.33% |
| Jun 27, 2026 | 62.41% |
| 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% |
API Access
Garmin Gross Margin 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=gross-margin&ticker=GRMN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=GRMN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();