Garmin (GRMN) Net Margin (2009 - 2026)

Garmin has disclosed Net Margin across 17 years of filings, most recently posting 23.1% for Q1 2026.

• Net Margin for Q1 2026 came in at 23.1%, up 142.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 24.37% (down 123.0% YoY), and the FY2025 annual result was 24.1%, down 121.0% from the prior year.
• Net Margin came in at 23.1% for Q1 2026 at Garmin, down from 28.76% in the prior quarter.
• In the past five years, Net Margin ranged from a high of 33.93% in Q4 2024 to a low of 17.63% in Q2 2023.
• The 5-year median for Net Margin is 21.8% (2023), against an average of 22.58%.
• Across the five-year window, Net Margin surged 891 bps in 2024 and plunged 516 bps in 2025, its largest moves.
• Garmin's Net Margin stood at 24.7% in 2022, then increased by 1 bps to 25.02% in 2023, then jumped by 36 bps to 33.93% in 2024, then fell by 15 bps to 28.76% in 2025, then retreated by 20 bps to 23.1% in 2026.
• The last three Net Margin figures came in at 23.1% (Q1 2026), 28.76% (Q4 2025), and 22.68% (Q3 2025), per Business Quant data.