Garmin (GRMN) Revenue & Revenue Breakdown

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Garmin Revenue Highlights

Latest Revenue (Y)

$5.23B

Latest Revenue (Q)

$1.59B

Main Segment (Y)

Outdoor Segment

Main Geography (Y)

Americas

Garmin Revenue by Period

Garmin Revenue by Year

Date	Revenue	Change
2023-12-30	$5.23B	7.57%
2022-12-31	$4.86B	-2.46%
2021-12-25	$4.98B	19.02%
2020-12-26	$4.19B	11.42%
2019-12-28	$3.76B	12.25%
2018-12-29	$3.35B	8.44%
2017-12-30	$3.09B	2.26%
2016-12-31	$3.02B	7.03%
2015-12-26	$2.82B	-1.76%
2014-12-27	$2.87B	9.07%
2013-12-28	$2.63B	-3.09%
2012-12-29	$2.72B	-1.55%
2011-12-31	$2.76B	2.55%
2010-12-25	$2.69B	-8.71%
2009-12-26	$2.95B	-15.67%
2008-12-27	$3.49B	9.87%
2007-12-29	$3.18B	79.27%
2006-12-30	$1.77B	72.61%
2005-12-31	$1.03B	34.78%
2004-12-25	$762.55M	33.08%
2003-12-27	$572.99M	23.19%
2002-12-28	$465.14M	26.01%
2001-12-29	$369.12M	6.76%
2000-12-30	$345.74M	48.65%
1999-12-31	$232.59M	-

Garmin generated $5.23B in revenue during NA 2023, up 7.57% compared to the previous quarter, and up 156.19% compared to the same period a year ago.

Garmin Revenue by Quarter

Date	Revenue	Change
2024-09-28	$1.59B	5.27%
2024-06-29	$1.51B	9.05%
2024-03-30	$1.38B	-6.80%
2023-12-30	$1.48B	16.04%
2023-09-30	$1.28B	-3.28%
2023-07-01	$1.32B	15.11%
2023-04-01	$1.15B	-12.17%
2022-12-31	$1.31B	14.55%
2022-09-24	$1.14B	-8.09%
2022-06-25	$1.24B	5.81%
2022-03-26	$1.17B	-15.73%
2021-12-25	$1.39B	16.75%
2021-09-25	$1.19B	-10.17%
2021-06-26	$1.33B	23.74%
2021-03-27	$1.07B	-20.65%
2020-12-26	$1.35B	21.84%
2020-09-26	$1.11B	27.51%
2020-06-27	$869.87M	1.61%
2020-03-28	$856.11M	-22.33%
2019-12-28	$1.10B	17.96%
2019-09-28	$934.38M	-2.14%
2019-06-29	$954.84M	24.64%
2019-03-30	$766.05M	-17.82%
2018-12-29	$932.11M	15.07%
2018-09-29	$810.01M	-9.44%
2018-06-30	$894.45M	25.82%
2018-03-31	$710.87M	-19.99%
2017-12-30	$888.50M	19.57%
2017-09-30	$743.08M	-9.04%
2017-07-01	$816.88M	27.93%
2017-04-01	$638.55M	-25.82%
2016-12-31	$860.77M	19.18%
2016-09-24	$722.25M	-11.01%
2016-06-25	$811.61M	30.06%
2016-03-26	$624.04M	-20.13%
2015-12-26	$781.36M	14.96%
2015-09-26	$679.69M	-12.17%
2015-06-27	$773.83M	32.19%
2015-03-28	$585.39M	-27.13%
2014-12-27	$803.31M	13.74%
2014-09-27	$706.28M	-9.20%
2014-06-28	$777.85M	33.37%
2014-03-29	$583.22M	-23.23%
2013-12-28	$759.69M	18.03%
2013-09-28	$643.64M	-7.60%
2013-06-29	$696.56M	30.94%
2013-03-30	$531.96M	-30.78%
2012-12-29	$768.55M	14.30%
2012-09-29	$672.38M	-6.37%
2012-06-30	$718.15M	29.03%
2012-03-31	$556.60M	-38.81%
2011-12-31	$909.64M	36.38%
2011-09-24	$666.99M	-1.05%
2011-06-25	$674.10M	32.74%
2011-03-26	$507.83M	-39.38%
2010-12-25	$837.72M	20.99%
2010-09-25	$692.36M	-4.99%
2010-06-26	$728.76M	69.06%
2010-03-27	$431.07M	-59.31%
2009-12-26	$1.06B	35.60%
2009-09-26	$781.25M	16.76%
2009-06-27	$669.10M	53.22%
2009-03-28	$436.70M	-58.34%
2008-12-27	$1.05B	20.44%
2008-09-27	$870.36M	-4.53%
2008-06-28	$911.67M	37.34%
2008-03-29	$663.80M	-45.46%
2007-12-29	$1.22B	-

Garmin generated $1.59B in revenue during Q3 2024, up 5.27% compared to the previous quarter, and up 120.08% compared to the same period a year ago.

Garmin Revenue Breakdown

Garmin Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 23	Dec 22	Dec 21	Dec 20	Dec 19
Fitness Segment	$1.34B	$1.11B	$1.53B	$1.32B	$1.05B
Outdoor Segment	$1.70B	$1.50B	$1.28B	$1.13B	$917.57M
Marine Segment	$916.91M	$903.98M	$875.15M	$657.85M	$508.85M
Aviation Segment	$846.33M	$792.80M	$712.47M	$622.82M	$735.46M
Auto Segment	-	-	-	-	$548.10M

Garmin's latest annual revenue breakdown by segment (product or service), as of Dec 23: Outdoor Segment (35.32%), Fitness Segment (27.98%), Marine Segment (19.08%), and Aviation Segment (17.61%).

Quarterly Revenue by Product

Product/Service	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jul 23	Apr 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Sep 20	Jun 20	Mar 20
Outdoor	$526.55M	$439.87M	$366.19M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Automotive Mobile	$168.71M	$147.19M	$128.97M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Aviation	$204.63M	$218.25M	$216.85M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fitness	$463.89M	$428.40M	$342.89M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Marine Segment	$222.24M	$272.95M	$326.74M	$239.89M	$182.25M	$215.80M	$278.98M	$707.48M	$693.37M	$242.79M	$254.07M	$196.45M	$157.83M	$163.00M	-	-	-	-
Aviation Segment	-	-	$216.85M	$217.13M	$198.16M	$217.45M	$213.58M	$604.76M	$567.55M	$204.74M	$174.77M	$177.58M	$126.14M	$188.60M	-	-	-	-
Fitness Segment	-	-	$342.89M	$412.08M	$352.98M	$334.86M	$244.72M	$829.54M	$772.87M	$272.10M	$220.90M	$470.15M	$294.64M	$223.60M	-	-	-	-
Outdoor Segment	-	-	$366.19M	$486.38M	$434.00M	$448.11M	$328.66M	$1.15B	$1.11B	$381.92M	$384.60M	$378.22M	$206.20M	$175.10M	-	-	-	-
Fitness Segments	-	-	-	-	-	-	-	-	-	-	-	-	$342.32M	$413.20M	$308.13M	$328.45M	-	-
Marine Segments	-	-	-	-	-	-	-	-	-	-	-	-	$207.53M	$261.79M	$209.37M	$165.44M	-	-
Outdoor Segments	-	-	-	-	-	-	-	-	-	-	-	-	$323.86M	$323.40M	$256.45M	$334.84M	-	-
Aviation Segments	-	-	-	-	-	-	-	-	-	-	-	-	$180.16M	$180.83M	$173.89M	$151.11M	-	-
Auto Segments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$129.35M	-	-
Auto Segment	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$85.06M	$105.80M

Garmin's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Outdoor (33.20%), Fitness (29.25%), Marine Segment (14.01%), Aviation (12.90%), and Automotive Mobile (10.64%).

Garmin Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 23	Dec 22	Dec 21	Dec 20	Dec 19
Americas	$2.61B	$2.43B	$2.35B	$1.97B	$1.82B
Asia Pacific	$837.93M	$797.62M	$774.37M	$638.74M	$589.20M
EMEA	$1.78B	$1.63B	$1.86B	-	-
E M E A	-	-	-	$1.58B	$1.35B

Garmin's latest annual revenue breakdown by geography, as of Dec 23: Americas (50.00%), EMEA (33.97%), and Asia Pacific (16.03%).

Quarterly Revenue by Country

Country	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jul 23	Apr 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20
Americas	$724.57M	$740.58M	$716.12M	$732.65M	$628.16M	$641.85M	$611.70M	$648.91M	$563.31M	$646.17M	$570.63M	$626.10M	$573.33M	$646.39M	$503.69M	$595.72M	$521.87M	$423.09M	$427.40M
Asia Pacific	$248.79M	$224.08M	$202.15M	$226.41M	$210.25M	$221.40M	$179.87M	$216.70M	$194.26M	$182.11M	$204.55M	$237.44M	$176.02M	$191.79M	$169.13M	$218.86M	$179.47M	$111.58M	$128.84M
EMEA	$612.66M	$542.02M	$463.38M	$523.44M	$439.12M	$457.55M	$355.85M	$440.75M	$382.87M	$412.55M	$397.48M	$528.05M	-	-	-	-	-	-	-
E M E A	-	-	-	-	-	-	-	-	-	-	-	-	$442.62M	$488.72M	$399.51M	$536.82M	$407.86M	$335.20M	$299.87M

Garmin's latest quarterly revenue breakdown by geography, as of Sep 24: Americas (45.68%), EMEA (38.63%), and Asia Pacific (15.69%).

Garmin Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
FTV	Fortive	$6.07B	$1.53B
TDY	Teledyne	$5.64B	$1.35B
GRMN	Garmin	$5.23B	$1.59B
ST	Sensata Technologies	$4.05B	$982.83B
TRMB	Trimble	$3.80B	$953.30M
MKSI	MKS Instruments	$3.62B	$897.00M
VNT	Vontier	$3.10B	$750.00M
ESE	ESCO	$1.03B	$260.78M
NOVT	Novanta	$881.66M	$244.41M
CGNX	Cognex	$837.55M	$234.74M
COHR	Coherent	$402.00M	$1.31B
VPG	Vishay Precision Group	$355.05M	$75.73M

GRMN Revenue FAQ

What is Garmin’s yearly revenue?

Garmin's yearly revenue for 2023 was $5.23B, representing an increase of 7.57% compared to 2022. The company's yearly revenue for 2022 was $4.86B, representing a decrease of -2.46% compared to 2021. GRMN's yearly revenue for 2021 was $4.98B, representing an increase of 19.02% compared to 2020.

What is Garmin’s quarterly revenue?

Garmin's quarterly revenue for Q3 2024 was $1.59B, a 5.27% increase from the previous quarter (Q2 2024), and a 24.15% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $1.51B, a 9.05% increase from the previous quarter (Q1 2024), and a 14.07% increase year-over-year (Q2 2023). GRMN's quarterly revenue for Q1 2024 was $1.38B, a -6.80% decrease from the previous quarter (Q4 2023), and a 20.41% increase year-over-year (Q1 2023).

What is Garmin’s revenue growth rate?

Garmin's revenue growth rate for the last 3 years (2021-2023) was 4.93%, and for the last 5 years (2019-2023) was 39.14%.

What are Garmin’s revenue streams?

Garmin's revenue streams in c 23 are Fitness Segment, Outdoor Segment, Marine Segment, and Aviation Segment. Fitness Segment generated $1.34B in revenue, accounting 27.98% of the company's total revenue, up 21.20% year-over-year. Outdoor Segment generated $1.7B in revenue, accounting 35.32% of the company's total revenue, up 13.51% year-over-year. Marine Segment generated $916.91M in revenue, accounting 19.08% of the company's total revenue, up 1.43% year-over-year. Aviation Segment generated $846.33M in revenue, accounting 17.61% of the company's total revenue, up 6.75% year-over-year.

What is Garmin’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of Garmin was Outdoor Segment. This segment made a revenue of $1.7B, representing 35.32% of the company's total revenue.