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Garmin (GRMN) Revenue & Revenue Breakdown

OverviewForecastOwnershipFinancialsChartTranscripts

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

DateRevenueChange
2023-12-30-7.57%
2022-12-31--2.46%
2021-12-25-19.02%
2020-12-26-11.42%
2019-12-28-12.25%
2018-12-29-8.44%
2017-12-30-2.26%
2016-12-31-7.03%
2015-12-26--1.76%
2014-12-27-9.07%
2013-12-28--3.09%
2012-12-29--1.55%
2011-12-31-2.55%
2010-12-25--8.71%
2009-12-26--15.67%
2008-12-27-9.87%
2007-12-29-79.27%
2006-12-30-72.61%
2005-12-31-34.78%
2004-12-25-33.08%
2003-12-27-23.19%
2002-12-28-26.01%
2001-12-29-6.76%
2000-12-30-48.65%
1999-12-31--

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

DateRevenueChange
2024-09-28-5.27%
2024-06-29-9.05%
2024-03-30--6.80%
2023-12-30-16.04%
2023-09-30--3.28%
2023-07-01-15.11%
2023-04-01--12.17%
2022-12-31-14.55%
2022-09-24--8.09%
2022-06-25-5.81%
2022-03-26--15.73%
2021-12-25-16.75%
2021-09-25--10.17%
2021-06-26-23.74%
2021-03-27--20.65%
2020-12-26-21.84%
2020-09-26-27.51%
2020-06-27-1.61%
2020-03-28--22.33%
2019-12-28-17.96%
2019-09-28--2.14%
2019-06-29-24.64%
2019-03-30--17.82%
2018-12-29-15.07%
2018-09-29--9.44%
2018-06-30-25.82%
2018-03-31--19.99%
2017-12-30-19.57%
2017-09-30--9.04%
2017-07-01-27.93%
2017-04-01--25.82%
2016-12-31-19.18%
2016-09-24--11.01%
2016-06-25-30.06%
2016-03-26--20.13%
2015-12-26-14.96%
2015-09-26--12.17%
2015-06-27-32.19%
2015-03-28--27.13%
2014-12-27-13.74%
2014-09-27--9.20%
2014-06-28-33.37%
2014-03-29--23.23%
2013-12-28-18.03%
2013-09-28--7.60%
2013-06-29-30.94%
2013-03-30--30.78%
2012-12-29-14.30%
2012-09-29--6.37%
2012-06-30-29.03%
2012-03-31--38.81%
2011-12-31-36.38%
2011-09-24--1.05%
2011-06-25-32.74%
2011-03-26--39.38%
2010-12-25-20.99%
2010-09-25--4.99%
2010-06-26-69.06%
2010-03-27--59.31%
2009-12-26-35.60%
2009-09-26-16.76%
2009-06-27-53.22%
2009-03-28--58.34%
2008-12-27-20.44%
2008-09-27--4.53%
2008-06-28-37.34%
2008-03-29--45.46%
2007-12-29--

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/ServiceDec 23Dec 22Dec 21Dec 20Dec 19
Fitness Segment-----
Outdoor Segment-----
Marine Segment-----
Aviation Segment-----
Auto Segment-----

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/ServiceSep 24Jun 24Mar 24Dec 23Sep 23Jul 23Apr 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Sep 20Jun 20Mar 20
Outdoor------------------
Automotive Mobile------------------
Aviation------------------
Fitness------------------
Marine Segment------------------
Aviation Segment------------------
Fitness Segment------------------
Outdoor Segment------------------
Fitness Segments------------------
Marine Segments------------------
Outdoor Segments------------------
Aviation Segments------------------
Auto Segments------------------
Auto Segment------------------

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

CountryDec 23Dec 22Dec 21Dec 20Dec 19
Americas-----
Asia Pacific-----
EMEA-----
E M E A-----

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

CountrySep 24Jun 24Mar 24Dec 23Sep 23Jul 23Apr 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20
Americas-------------------
Asia Pacific-------------------
EMEA-------------------
E M E A-------------------

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

TickerCompanyLast Year RevenueLast Quarter Revenue
FTVFortive--
TDYTeledyne--
GRMNGarmin--
STSensata Technologies--
TRMBTrimble--
MKSIMKS Instruments--
VNTVontier--
ESEESCO--
NOVTNovanta--
CGNXCognex--
COHRCoherent--
VPGVishay Precision Group--

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.