Garmin reported a strong finish to fiscal year 2025 with record revenue and operating income across all segments, driven by robust demand in Fitness and continued growth in Outdoor, Aviation, and Marine. The company anticipates continued momentum into 2026 with new product launches and a strategic focus on market diversification.
Consolidated revenue of $2.12 billion in Q4 FY2025, a 17% increase compared to the prior-year quarter.
positiveRecord consolidated revenue of $7.25 billion for fiscal year 2025, a 15% increase compared to the prior year.
positiveAll five segments posted record full-year revenue in FY2025.
positiveOperating income increased 19% to $614 million in Q4 FY2025 and 18% to $1.88 billion for FY2025.
positiveGAAP diluted EPS of $2.73 in Q4 FY2025, a 21% increase over the prior-year quarter.
positivePro forma diluted EPS of $8.56 for FY2025, representing 16% growth over the prior year.
positiveAnnounced a new $500 million share repurchase program.
positiveProposed a 17% dividend increase to $4.20 per share annually.
positiveRevenue from the Auto OEM segment decreased 3% in Q4 FY2025 due to legacy programs approaching end-of-life.
attentionThe Auto OEM segment recorded an operating loss of $14 million in Q4 FY2025.
negativeInventories increased to $1.77 billion in Q4 FY2025 from $1.47 billion in Q4 FY2024.
attentionThe effective tax rate in Q4 FY2025 was 16.8%, an increase from 15.6% in the prior year quarter, primarily due to new U.S. tax legislation.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Fitness | N/A | — | — | — |
Outdoor | N/A | — | — | — |
Aviation | N/A | — | — | — |
Marine | N/A | — | — | — |
Auto OEM | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
2025 was another year of remarkable growth and achievement for Garmin with record consolidated revenue, record revenue in all five of our segments, and record consolidated operating income.
We attribute this strong performance to our strategic focus on market diversification and creating superior products that are essential to our customers’ lives.
Looking forward, we anticipate building on this momentum with many exciting new product launches throughout the year.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.