Loading...
•
Dec 27, 2025
Garmin Q4 2025 Earnings Report
Garmin reported record fourth quarter 2025 revenue and profit with strong growth across most segments.
Key Takeaways
Garmin delivered record Q4 revenue of $2,124,955,000, up 17% year-over-year, with operating income rising to $614,154,000 and net income of $528,681,000. Growth was led by Fitness, Aviation, and Marine, while Auto OEM declined slightly. Margins remained strong with gross margin at 59.2% and operating margin at 28.9%.
Record fourth quarter revenue increased 17% year-over-year driven by strong Fitness demand.
Operating income grew 19% year-over-year with margin expansion to 28.9%.
Fitness segment revenue surged 42% year-over-year, leading segment performance.
Auto OEM revenue declined 3% year-over-year and posted an operating loss.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For fiscal 2026, Garmin expects revenue of approximately $7,900,000,000 and pro forma EPS of $9.35, with gross margin of 58.5%, operating margin of 25.5%, and pro forma effective tax rate of 16.0%.
Positive Outlook
- Expected full-year 2026 revenue growth of approximately 9%.
- Pro forma EPS projected to increase to $9.35.
- Gross margin expected to remain strong at 58.5%.
- Operating margin projected at 25.5%.
- Continued product innovation and launches expected to support growth.
Challenges Ahead
- Projected gross margin slightly below Q4 2025 level.
- Operating margin expected below Q4 2025 margin.
- Guidance subject to foreign currency volatility.
- Potential tariff impacts not fully predictable.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...