Garmin (GRMN) Research & Development (2009 - 2026)
Garmin (GRMN) recorded Research & Development of $312.92 million in Q3 2026, up 9.2% from $286.46 million a year earlier and up 3.0% from the prior quarter.
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Analysis
Garmin (GRMN) Research & Development (2009 - 2026) Analysis & Trends
On a TTM basis, Garmin's Research & Development came in at $1.21 billion as of Sep 26, 2026, up 10.8% year-over-year; for FY2025, it came in at $1.13 billion, up 13.3% from FY2024.
- Annual Research & Development has increased for eight straight years, with a five-year compound annual growth rate of 11.5% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $993.6 million in FY2024 (+9.8%), $904.7 million in FY2023 (+8.4%), $834.93 million in FY2022 (+7.2%) and $778.75 million in FY2021 (+19.4%).
- The Q3 2026 figure is the highest quarterly Research & Development in data going back to Q1 2009.
- On a year-over-year basis, Research & Development has increased for 23 consecutive quarters, with growth averaging 11.5% over the last eight quarters.
- Over the past five years, the year-over-year growth in Research & Development ranged from 4.9% (Q3 2022) to 40.1% (Q4 2021).
- Per Business Quant, the preceding three quarters came in at $303.94 million (Q2 2026), $295.82 million (Q1 2026) and $294.98 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 5,177.41 Bn | 4,922.87 Bn | 54.82 Bn | 11.73 Bn |
| 2 | Cisco Systems | 377.40 Bn | 377.40 Bn | 11.79 Bn | 2.42 Bn |
| 3 | Arista Networks | 249.38 Bn | 198.58 Bn | 2.33 Bn | 486.90 Mn |
| 4 | Dell Technologies | 220.34 Bn | 176.10 Bn | 9.83 Bn | 1.11 Bn |
| 5 | Sony | 166.48 Bn | 103.89 Bn | 7.96 Bn | - |
| 6 | Sandisk | 127.44 Bn | 112.27 Bn | 9.38 Bn | 384.00 Mn |
| 7 | Seagate Technology Holdings | 121.35 Bn | 116.20 Bn | 2.43 Bn | 200.00 Mn |
| 8 | Western Digital | 110.67 Bn | 100.50 Bn | 2.53 Bn | 283.00 Mn |
| 9 | Hewlett Packard Enterprise | 64.15 Bn | 42.09 Bn | 4.93 Bn | 1.16 Bn |
| 10 | Garmin | 54.56 Bn | 44.11 Bn | 1.26 Bn | 312.92 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 26, 2026 | 312.92 Mn |
| Jun 27, 2026 | 303.94 Mn |
| Mar 28, 2026 | 295.82 Mn |
| Dec 27, 2025 | 294.98 Mn |
| Sep 27, 2025 | 286.46 Mn |
| Jun 28, 2025 | 276.66 Mn |
| Mar 29, 2025 | 268.12 Mn |
| Dec 28, 2024 | 258.75 Mn |
| Sep 28, 2024 | 249.16 Mn |
| Jun 29, 2024 | 243.15 Mn |
| Mar 30, 2024 | 242.54 Mn |
| Dec 30, 2023 | 237.25 Mn |
| Sep 30, 2023 | 221.57 Mn |
| Jul 1, 2023 | 224.39 Mn |
| Apr 1, 2023 | 221.49 Mn |
| Dec 31, 2022 | 215.71 Mn |
| Sep 24, 2022 | 208.69 Mn |
| Jun 25, 2022 | 201.52 Mn |
| Mar 26, 2022 | 209.01 Mn |
| Dec 25, 2021 | 204.95 Mn |
API Access
Garmin Research & Development 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=research-and-development&ticker=GRMN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=GRMN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();