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Garmin (GRMN) Tax Rate: 2009-2024

Historic Tax Rate for Garmin (GRMN) over the last 14 years, with Dec 2024 value amounting to 22.04%.

  • Garmin's Tax Rate rose 330.00% to 21.22% in Q3 2025 from the same period last year, while for Sep 2025 it was 21.84%, marking a year-over-year increase of 804.00%. This contributed to the annual value of 22.04% for FY2024, which is 117.00% up from last year.
  • According to the latest figures from FY2024, Garmin's Tax Rate is 22.04%, which was up 5.62% from 20.86% recorded in FY2023.
  • Garmin's 5-year Tax Rate high stood at 22.04% for FY2024, and its period low was 10.07% during FY2020.
  • Its 3-year average for Tax Rate is 21.62%, with a median of 21.96% in 2022.
  • Its Tax Rate has fluctuated over the past 5 years, first tumbled by 240bps in 2020, then spiked by 1,118bps in 2022.
  • Yearly analysis of 5 years shows Garmin's Tax Rate stood at 10.07% in 2020, then skyrocketed by 71bps to 10.78% in 2021, then spiked by 1,118bps to 21.96% in 2022, then plummeted by 109bps to 20.86% in 2023, then surged by 117bps to 22.04% in 2024.