Garmin (GRMN) Revenue & Revenue Breakdown
Garmin Revenue Highlights
Latest Revenue (Y)
$5.23B
Latest Revenue (Q)
$1.51B
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 |
|---|---|---|
| 2024-06-29 | $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 $1.51B in revenue during Q2 2024, up 9.05% compared to the previous quarter, and up 131.31% 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 |
|---|---|---|---|---|---|
| Marine Segment | $916.91M | $903.98M | $875.15M | $657.85M | $508.85M |
| Outdoor Segment | $1.70B | $1.50B | $1.28B | $1.13B | $917.57M |
| Fitness Segment | $1.34B | $1.11B | $1.53B | $1.32B | $1.05B |
| 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 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Marine Segment | $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 | - | - | - | - |
| Outdoor | $439.87M | $366.19M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Fitness | $428.40M | $342.89M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Aviation | $218.25M | $216.85M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Automotive Mobile | $147.19M | $128.97M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 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 | - | - | - | - |
| 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 | - | - | - | - |
| Marine Segments | - | - | - | - | - | - | - | - | - | - | - | $207.53M | $261.79M | $209.37M | $165.44M | - | - |
| Aviation Segments | - | - | - | - | - | - | - | - | - | - | - | $180.16M | $180.83M | $173.89M | $151.11M | - | - |
| Fitness Segments | - | - | - | - | - | - | - | - | - | - | - | $342.32M | $413.20M | $308.13M | $328.45M | - | - |
| Outdoor Segments | - | - | - | - | - | - | - | - | - | - | - | $323.86M | $323.40M | $256.45M | $334.84M | - | - |
| Auto Segments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $129.35M | - | - |
| Auto Segment | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $85.06M | $105.80M |
Garmin's latest quarterly revenue breakdown by segment (product or service), as of Jun 24: Outdoor (29.19%), Fitness (28.43%), Marine Segment (18.12%), Aviation (14.49%), and Automotive Mobile (9.77%).
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 |
| EMEA | $1.78B | $1.63B | $1.86B | - | - |
| Asia Pacific | $837.93M | $797.62M | $774.37M | $638.74M | $589.20M |
| 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 | 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 | $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 | $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 | $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 Jun 24: Americas (49.15%), EMEA (35.97%), and Asia Pacific (14.87%).
Garmin Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| FTV | Fortive | $6.07B | $1.55B |
| TDY | Teledyne | $5.64B | $1.35B |
| GRMN | Garmin | $5.23B | $1.51B |
| ST | Sensata Technologies | $4.05B | $1.04T |
| TRMB | Trimble | $3.80B | $953.30M |
| MKSI | MKS Instruments | $3.62B | $887.00M |
| VNT | Vontier | $3.10B | $696.40M |
| ESE | ESCO | $956.03M | $260.78M |
| NOVT | Novanta | $881.66M | $235.86M |
| CGNX | Cognex | $837.55M | $239.29M |
| COHR | Coherent | $402.00M | $1.21T |
| VPG | Vishay Precision Group | $355.05M | $77.36M |
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 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). The company'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). GRMN's quarterly revenue for Q4 2023 was $1.48B, a 16.04% increase from the previous quarter (Q3 2023), and a 13.48% increase year-over-year (Q4 2022).
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 Marine Segment, Outdoor Segment, Fitness Segment, and Aviation Segment. Marine Segment generated $916.91M in revenue, accounting 19.08% of the company's total revenue, up 1.43% 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. Fitness Segment generated $1.34B in revenue, accounting 27.98% of the company's total revenue, up 21.20% 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.