Garmin (GRMN) Operating Margin (2009 - 2026)

Garmin has disclosed Operating Margin across 17 years of filings, most recently posting 30.44% for Q2 2026.

• In Q2 2026, Operating Margin rose 441.0% year-over-year to 30.44%; the TTM figure through Jun 2026 stood at 27.61% (up 159.0% YoY), while the FY2025 annual figure was 25.89%, up 58.0% from the prior year.
• Operating Margin came in at 30.44% for Q2 2026 at Garmin, up from 24.62% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 30.44% in Q2 2026 to a low of 17.17% in Q2 2023.
• Average Operating Margin over 5 years is 23.61%, with a median of 22.83% recorded in 2023.
• Year-over-year, Operating Margin tumbled 438 bps in 2022 and soared 642 bps in 2024.
• Over 5 years, Operating Margin stood at 20.45% in 2022, then gained by 12 bps to 22.96% in 2023, then grew by 23 bps to 28.32% in 2024, then increased by 2 bps to 28.9% in 2025, then climbed by 5 bps to 30.44% in 2026.
• Per Business Quant data, the three most recent Operating Margin figures were 30.44% in Q2 2026, 24.62% in Q1 2026, and 28.9% in Q4 2025.