Garmin (GRMN) Tax Rate (2009 - 2026)

Garmin has disclosed Tax Rate across 17 years of filings, most recently posting 14.27% for Q1 2026.

• Tax Rate for Q1 2026 came in at 14.27%, down 20.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 13.31% (up 725.0% YoY), and the FY2025 annual result was 13.31%, up 733.0% from the prior year.
• Tax Rate came in at 14.27% for Q1 2026 at Garmin, up from 3.8% in the prior quarter.
• In the past five years, Tax Rate ranged from a high of 21.22% in Q3 2025 to a low of 19.8% in Q4 2024.
• The 5-year median for Tax Rate is 8.87% (2023), against an average of 9.12%.
• Across the five-year window, Tax Rate slumped 2297 bps in 2024 and surged 2361 bps in 2025, its largest moves.
• Garmin's Tax Rate stood at 2.17% in 2022, then surged by 46 bps to 3.16% in 2023, then slumped by 726 bps to 19.8% in 2024, then jumped by 119 bps to 3.8% in 2025, then surged by 275 bps to 14.27% in 2026.
• The last three Tax Rate figures came in at 14.27% (Q1 2026), 3.8% (Q4 2025), and 21.22% (Q3 2025), per Business Quant data.