Garmin (GRMN) Tax Rate (2009 - 2026)

Garmin (GRMN) posted Tax Rate of 16.76% for Q2 2026, up 17.44% sequentially from 14.27% in Q1 2026, and up 22.0% YoY from 13.74% in Q2 2025.

Garmin (GRMN) Tax Rate (2009 - 2026) Analysis & Trends

Garmin has reported Tax Rate for 17 years, with the latest figure at 16.76% in Q2 2026.

Quarterly Tax Rate rose 22.0% year-over-year to 16.76% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 17.26% (down 374.0% YoY) and the FY2025 annual result came in at 17.41%, down 463.0% from the prior year.
Tax Rate advanced to 16.76% in Q2 2026 per GRMN's latest filing, from 14.27% in the prior quarter.
Over five years, Tax Rate peaked at 32.95% in Q4 2024 and troughed at 2.17% in Q4 2022.
A 5-year average of 13.19% and a median of 14.37% in 2025 frame the typical range for Tax Rate.
The sharpest annual moves came in 2024 and 2025: Tax Rate soared 2978 bps in 2024, then sank 1615 bps in 2025.
Over 5 years, Tax Rate stood at 2.17% in 2022, then jumped by 46 bps to 3.16% in 2023, then surged by 942 bps to 32.95% in 2024, then tumbled by 49 bps to 16.79% in 2025, then decreased by 0 bps to 16.76% in 2026.
According to Business Quant data, Tax Rate over the past three periods registered 16.76%, 14.27%, and 16.79% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Tax Rate (Qtr)
1	Garmin	56.50 Bn	53.83 Bn	1.26 Bn	16.76%
2	Keysight Technologies	54.05 Bn	51.64 Bn	1.18 Bn	16.51%
3	Coherent	51.08 Bn	49.09 Bn	787.08 Mn	15.19%
4	Teledyne Technologies	29.39 Bn	29.05 Bn	738.10 Mn	21.66%
5	Mks	19.03 Bn	18.41 Bn	595.00 Mn	17.84%
6	Fortive	18.08 Bn	17.71 Bn	695.30 Mn	12.37%
7	Trimble	13.91 Bn	13.70 Bn	674.90 Mn	-6.05%
8	Cognex	9.98 Bn	9.58 Bn	205.77 Mn	18.53%
9	Esco Technologies	7.37 Bn	7.30 Bn	141.52 Mn	20.07%
10	Sensata Technologies Holding	6.09 Bn	5.68 Bn	301.80 Mn	22.87%

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