Garmin (GRMN) Operating Margin (2009 - 2026)

Garmin has disclosed Operating Margin across 17 years of filings, most recently posting 24.62% for Q1 2026.

• Operating Margin for Q1 2026 came in at 24.62%, up 294.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 26.46% (up 2369.0% YoY), and the FY2025 annual result was 25.89%, up 2360.0% from the prior year.
• Operating Margin came in at 24.62% for Q1 2026 at Garmin, down from 28.9% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 28.9% in Q4 2025 to a low of 51.24% in Q4 2024.
• The 5-year median for Operating Margin is 21.68% (2025), against an average of 18.53%.
• Across the five-year window, Operating Margin plunged 7420 bps in 2024 and surged 8014 bps in 2025, its largest moves.
• Garmin's Operating Margin stood at 20.45% in 2022, then gained by 12 bps to 22.96% in 2023, then plunged by 323 bps to 51.24% in 2024, then surged by 156 bps to 28.9% in 2025, then slipped by 15 bps to 24.62% in 2026.
• The last three Operating Margin figures came in at 24.62% (Q1 2026), 28.9% (Q4 2025), and 25.79% (Q3 2025), per Business Quant data.