Garmin (GRMN) Tax Rate (2009 - 2026)
Garmin's Tax Rate was 16.76% in Q2 2026, up 0.22 percentage points from 16.54% a year earlier and up 2.49 percentage points from the prior quarter.
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Analysis
Garmin (GRMN) Tax Rate (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Garmin's Tax Rate was 17.26% through Jun 27, 2026, up 1.05 percentage points year-over-year; for FY2025, it came in at 17.41%, up 0.66 percentage points from FY2024.
- Tax Rate shows a five-year change of +7.34 percentage points (FY2020 to FY2025).
- In earlier years, Tax Rate was 16.75% in FY2024 (+24.19 pp), -7.44% in FY2023 (-16.02 pp), 8.58% in FY2022 (-1.74 pp) and 10.32% in FY2021 (+0.26 pp).
- Quarterly Tax Rate has moved between 3.16% (Q4 2023) and 21.22% (Q3 2025) over five years.
- Compared with a year earlier, Tax Rate was higher in five of the last eight quarters, with an average year-over-year change of +3.05 percentage points.
- The best year-over-year quarter for Tax Rate over five years was Q4 2024 (a gain of 12.42 percentage points); the worst was Q4 2023 (a drop of 7.93 percentage points).
- Per Business Quant data, GRMN's Tax Rate in the three quarters before Q2 2026 was 14.27% (Q1 2026), 16.79% (Q4 2025) and 21.22% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,865.08 Bn | 4,612.57 Bn | 54.77 Bn | 17.86% |
| 2 | Cisco Systems | 424.71 Bn | 360.64 Bn | 11.06 Bn | 21.77% |
| 3 | Dell Technologies | 344.52 Bn | 300.28 Bn | 9.83 Bn | 19.45% |
| 4 | Arista Networks | 256.79 Bn | 210.25 Bn | 1.91 Bn | 19.37% |
| 5 | Sandisk | 254.02 Bn | 242.55 Bn | 7.58 Bn | 12.05% |
| 6 | Seagate Technology Holdings | 209.18 Bn | 204.17 Bn | 1.90 Bn | 14.02% |
| 7 | Western Digital | 164.06 Bn | 152.19 Bn | 2.03 Bn | 1.60% |
| 8 | Sony | 144.83 Bn | 95.22 Bn | 6.53 Bn | 26.70% |
| 9 | Lumentum Holdings | 86.05 Bn | 77.87 Bn | 477.30 Mn | - |
| 10 | Garmin | 55.35 Bn | 44.71 Bn | 1.26 Bn | 16.76% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 16.76% |
| Mar 28, 2026 | 14.27% |
| Dec 27, 2025 | 16.79% |
| Sep 27, 2025 | 21.22% |
| Jun 28, 2025 | 16.54% |
| Mar 29, 2025 | 14.47% |
| Dec 28, 2024 | 15.58% |
| Sep 28, 2024 | 17.92% |
| Jun 29, 2024 | 17.85% |
| Mar 30, 2024 | 15.62% |
| Dec 30, 2023 | 3.16% |
| Sep 30, 2023 | 7.99% |
| Jul 1, 2023 | 8.87% |
| Apr 1, 2023 | 8.77% |
| Dec 31, 2022 | 11.10% |
| Sep 24, 2022 | 4.28% |
| Jun 25, 2022 | 7.56% |
| Mar 26, 2022 | 10.29% |
| Dec 25, 2021 | 7.35% |
| Sep 25, 2021 | 5.94% |
API Access
Garmin Tax Rate 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=tax-rate&ticker=GRMN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=GRMN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();