GRMN Garmin margins

Relative Growth: Rel. Growth: 92

Relative Strength: Rel. Strength: 78

Relative Valuation: Rel. Valuation: 37

Relative Profitability: Rel. Profitability: 90

Gross margin

60.1%

Operating margin

27.6%

EBITDA margin

32.1%

Net margin

24.5%

The Garmin reports a gross margin of 60.1%, an operating margin of 27.6%, an EBITDA margin of 32.1%, and a net margin of 24.5%. EBITDA margin led the improvement across the available margins, expanding by 1.7 percentage points.

GRMN margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Garmin's margins averaged 58.55% gross, 24.63% operating, 29.41% EBITDA, and 23.76% net. All four current margins are above their three-year averages.

GRMN margin expansion

Year-over-year margin changes in percentage points

Gross margin expanded by 1.2 percentage points, operating margin by 1.6 percentage points, EBITDA margin by 1.7 percentage points, and net margin by 1.3 percentage points, led by EBITDA margin with an increase of 1.7 percentage points.

Gross margin expansion

1.2pp

Operating margin expansion

1.6pp

EBITDA margin expansion

1.7pp

Net margin expansion

1.3pp

GRMN Gross margin

The average gross margin for Garmin was 58.55% across the past 3 years. Right now, the current gross margin for Garmin is 60.1%, 1.6 percentage points above its three-year average. The gross margin for Garmin moved between 57.5% in Dec 2023 and 60.1% in Jun 2026.

GRMN Operating margin

Garmin's operating margin averaged 24.63% during the last 3 years. As of the latest period, the current operating margin for Garmin is 27.6%, 3 percentage points above its three-year average. Over the last 3 years, Garmin's operating margin peaked at 27.6% in Jun 2026 and reached a low of 20.9% in Dec 2023.

GRMN EBITDA margin

Looking back over the last 3 years, Garmin recorded an average EBITDA margin of 29.41%. Garmin currently reports an EBITDA margin of 32.1%, 2.7 percentage points above its three-year average. The highest EBITDA margin for Garmin was 32.1% in Jun 2026, while the lowest was 26.4% in Dec 2023.

GRMN Net margin

The average net margin for Garmin was 23.76% during the last 3 years. At present, the current net margin for Garmin is 24.5%, 0.7 percentage points above its three-year average. The net margin for Garmin moved between 22.4% in Dec 2024 and 25.5% in Sep 2024.

GRMN margin group comparison

Margins compared with peer-group, industry and sector averages

Garmin's gross margin of 60.1% is higher than the Technology sector, the industry and its peers average. Looking at the Technology sector average of 52.1%, Garmin's gross margin is 15% higher.

GRMN margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Garmin's gross margin?

The current gross margin for GRMN is 60.1% as of Jun 27, 2026.

What is Garmin's operating margin?

For the period ending Jun 27, 2026, GRMN recorded an operating margin of 27.6%.

What is Garmin's EBITDA margin?

The current EBITDA margin for GRMN is 32.1% as of Jun 27, 2026.

What is Garmin's net margin?

As of Jun 27, 2026, GRMN has a net margin of 24.5%.

What are the average margins of GRMN?

The three-year average margins for GRMN were 58.6% gross, 24.6% operating, 29.4% EBITDA, and 23.8% net.

What are the highest historical margins of GRMN?

Within the 5-year period, GRMN recorded its highest margins at 60.1% gross in Jun 2026, 27.6% operating in Jun 2026, 32.1% EBITDA in Jun 2026, and 25.5% net in Sep 2024.

What are the lowest historical margins of GRMN?

Across the 5-year period, GRMN posted its lowest margins at 57.1% gross in Sep 2023, 20.1% operating in Jul 2023, 24.4% EBITDA in Sep 2022, and 19.5% net in Sep 2022.