Garmin Historical Income Statement

GRMN Stock

USD 214.52 4.19 1.99%

Historical analysis of Garmin income statement accounts such as Total Revenue of 2.8 B or Gross Profit of 1.5 B can show how well Garmin performed in making a profits. Evaluating Garmin income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Garmin's future profits or losses.

Cash Flow Balance Sheet Income Statement

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Financial Statement Analysis is much more than just reviewing and examining Garmin latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Garmin is a good buy for the upcoming year.

Net Income Gross Profit

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Garmin. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Garmin Stock, please use our How to Invest in Garmin guide.

About Garmin Income Statement Analysis

Garmin Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Garmin shareholders. The income statement also shows Garmin investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).

Garmin Income Statement Chart

At this time, Garmin's Depreciation And Amortization is very stable compared to the past year. As of the 26th of November 2024, Research Development is likely to grow to about 949.9 M, while Interest Expense is likely to drop about 36 M.

Total Revenue Gross Profit Other Operating Expenses Operating Income

Total Revenue

Total revenue comprises all receipts Garmin generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Garmin minus its cost of goods sold. It is profit before Garmin operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Other Operating Expenses

Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Garmin. It is also known as Garmin overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.

Operating Income

Operating Income is the amount of profit realized from Garmin operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of Garmin is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.

Most accounts from Garmin's income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Garmin current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Garmin. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Garmin Stock, please use our How to Invest in Garmin guide.At this time, Garmin's Depreciation And Amortization is very stable compared to the past year. As of the 26th of November 2024, Research Development is likely to grow to about 949.9 M, while Interest Expense is likely to drop about 36 M.

	2021	2022	2023	2024 (projected)
Interest Expense	57.1M	40.8M	46.9M	36.0M
Depreciation And Amortization	154.8M	163.9M	177.6M	186.5M

Interest Expense Depreciation And Amortization

Garmin income statement Correlations

	Depreciation And Amortization	Interest Expense	Total Revenue	Gross Profit	Other Operating Expenses	Operating Income	Ebit	Research Development	Ebitda	Cost Of Revenue	Total Operating Expenses	Income Before Tax	Total Other Income Expense Net	Net Income	Income Tax Expense	Selling General Administrative	Selling And Marketing Expenses	Net Income From Continuing Ops	Non Operating Income Net Other	Tax Provision	Interest Income	Net Interest Income	Reconciled Depreciation
Depreciation And Amortization		0.51	0.55	0.5	0.55	0.52	0.38	0.67	0.52	0.6	0.68	0.53	0.63	0.67	-0.2	0.73	0.12	0.49	0.03	-0.36	0.21	0.27	0.78
Interest Expense	0.51		0.84	0.82	0.83	0.84	0.81	0.72	0.83	0.84	0.72	0.83	0.19	0.65	0.12	0.66	0.12	0.42	0.0	-0.07	0.42	0.17	0.53
Total Revenue	0.55	0.84		0.99	1.0	0.97	0.95	0.84	0.98	0.99	0.84	0.97	0.34	0.77	-0.03	0.8	0.37	0.68	0.0	-0.25	0.66	0.44	0.76
Gross Profit	0.5	0.82	0.99		0.99	0.98	0.97	0.84	0.99	0.96	0.83	0.98	0.34	0.77	-0.03	0.79	0.4	0.72	0.0	-0.24	0.69	0.45	0.76
Other Operating Expenses	0.55	0.83	1.0	0.99		0.95	0.93	0.82	0.96	0.99	0.83	0.96	0.34	0.76	-0.04	0.8	0.37	0.66	0.0	-0.25	0.65	0.45	0.75
Operating Income	0.52	0.84	0.97	0.98	0.95		0.98	0.84	1.0	0.94	0.83	1.0	0.35	0.8	0.02	0.78	0.35	0.72	0.0	-0.21	0.65	0.39	0.75
Ebit	0.38	0.81	0.95	0.97	0.93	0.98		0.83	0.99	0.91	0.81	0.97	0.29	0.78	0.01	0.76	0.42	0.68	-0.05	-0.22	0.71	0.41	0.68
Research Development	0.67	0.72	0.84	0.84	0.82	0.84	0.83		0.84	0.81	0.99	0.84	0.63	0.96	-0.29	0.98	0.53	0.72	-0.04	-0.55	0.77	0.54	0.86
Ebitda	0.52	0.83	0.98	0.99	0.96	1.0	0.99	0.84		0.95	0.83	0.99	0.34	0.79	0.01	0.79	0.38	0.71	-0.03	-0.22	0.66	0.41	0.75
Cost Of Revenue	0.6	0.84	0.99	0.96	0.99	0.94	0.91	0.81	0.95		0.83	0.94	0.34	0.76	-0.04	0.8	0.32	0.61	0.0	-0.24	0.59	0.41	0.73
Total Operating Expenses	0.68	0.72	0.84	0.83	0.83	0.83	0.81	0.99	0.83	0.83		0.83	0.63	0.95	-0.29	0.99	0.52	0.67	-0.03	-0.57	0.75	0.55	0.85
Income Before Tax	0.53	0.83	0.97	0.98	0.96	1.0	0.97	0.84	0.99	0.94	0.83		0.41	0.81	-0.01	0.79	0.3	0.73	0.08	-0.25	0.68	0.45	0.75
Total Other Income Expense Net	0.63	0.19	0.34	0.34	0.34	0.35	0.29	0.63	0.34	0.34	0.63	0.41		0.74	-0.56	0.7	0.09	0.61	0.49	-0.72	0.59	0.73	0.67
Net Income	0.67	0.65	0.77	0.77	0.76	0.8	0.78	0.96	0.79	0.76	0.95	0.81	0.74		-0.47	0.95	0.41	0.78	0.07	-0.65	0.78	0.61	0.84
Income Tax Expense	-0.2	0.12	-0.03	-0.03	-0.04	0.02	0.01	-0.29	0.01	-0.04	-0.29	-0.01	-0.56	-0.47		-0.34	-0.22	-0.51	-0.09	0.71	-0.47	-0.54	-0.36
Selling General Administrative	0.73	0.66	0.8	0.79	0.8	0.78	0.76	0.98	0.79	0.8	0.99	0.79	0.7	0.95	-0.34		0.49	0.68	0.01	-0.62	0.74	0.59	0.87
Selling And Marketing Expenses	0.12	0.12	0.37	0.4	0.37	0.35	0.42	0.53	0.38	0.32	0.52	0.3	0.09	0.41	-0.22	0.49		0.41	-0.64	-0.4	0.59	0.35	0.49
Net Income From Continuing Ops	0.49	0.42	0.68	0.72	0.66	0.72	0.68	0.72	0.71	0.61	0.67	0.73	0.61	0.78	-0.51	0.68	0.41		0.06	-0.48	0.78	0.63	0.87
Non Operating Income Net Other	0.03	0.0	0.0	0.0	0.0	0.0	-0.05	-0.04	-0.03	0.0	-0.03	0.08	0.49	0.07	-0.09	0.01	-0.64	0.06		-0.05	0.09	0.32	-0.03
Tax Provision	-0.36	-0.07	-0.25	-0.24	-0.25	-0.21	-0.22	-0.55	-0.22	-0.24	-0.57	-0.25	-0.72	-0.65	0.71	-0.62	-0.4	-0.48	-0.05		-0.66	-0.75	-0.5
Interest Income	0.21	0.42	0.66	0.69	0.65	0.65	0.71	0.77	0.66	0.59	0.75	0.68	0.59	0.78	-0.47	0.74	0.59	0.78	0.09	-0.66		0.84	0.69
Net Interest Income	0.27	0.17	0.44	0.45	0.45	0.39	0.41	0.54	0.41	0.41	0.55	0.45	0.73	0.61	-0.54	0.59	0.35	0.63	0.32	-0.75	0.84		0.57
Reconciled Depreciation	0.78	0.53	0.76	0.76	0.75	0.75	0.68	0.86	0.75	0.73	0.85	0.75	0.67	0.84	-0.36	0.87	0.49	0.87	-0.03	-0.5	0.69	0.57

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Garmin Account Relationship Matchups

Garmin income statement Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Depreciation And Amortization	171.9K	126.7M	154.8M	163.9M	177.6M	186.5M
Interest Expense	24.8M	52.0M	57.1M	40.8M	46.9M	36.0M
Total Revenue	3.8B	4.2B	5.0B	4.9B	5.2B	2.8B
Gross Profit	2.2B	2.5B	2.9B	2.8B	3.0B	1.5B
Other Operating Expenses	2.8B	3.1B	3.8B	3.8B	4.1B	2.1B
Operating Income	945.6M	1.1B	1.2B	1.0B	1.1B	681.3M
Ebit	1.1B	1.1B	1.2B	1.0B	1.1B	700.7M
Research Development	605.4M	705.7M	840.0M	834.9M	904.7M	949.9M
Ebitda	1.1B	1.2B	1.4B	1.2B	1.3B	769.3M
Cost Of Revenue	1.5B	1.7B	2.1B	2.1B	2.2B	1.3B
Total Operating Expenses	1.3B	1.4B	1.7B	1.8B	1.9B	2.0B
Income Before Tax	987.2M	1.1B	1.2B	1.1B	1.2B	710.1M
Total Other Income Expense Net	41.6M	49.2M	(11.8M)	37.1M	108.2M	113.6M
Net Income	952.5M	992.3M	1.1B	973.6M	1.3B	1.4B
Income Tax Expense	34.7M	111.1M	124.6M	91.4M	(89.3M)	(84.8M)
Selling General Administrative	518.6M	570.2M	660.0M	776.0M	835.0M	876.7M
Net Income Applicable To Common Shares	952.5M	992.3M	1.1B	973.6M	1.1B	614.3M
Selling And Marketing Expenses	164.5M	151.2M	171.8M	168.0M	173.1M	171.3M
Net Income From Continuing Ops	952.5M	992.3M	1.1B	973.6M	1.3B	804.8M
Non Operating Income Net Other	41.6M	49.2M	(11.8M)	37.1M	42.7M	25.6M
Tax Provision	34.7M	111.1M	124.6M	91.4M	(89.3M)	(84.8M)
Interest Income	52.8M	37.0M	28.6M	40.8M	77.3M	44.0M
Net Interest Income	52.8M	37.0M	28.6M	40.8M	77.3M	48.7M
Reconciled Depreciation	106.2M	126.7M	154.8M	163.9M	177.6M	143.2M

Pair Trading with Garmin

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Garmin position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Garmin will appreciate offsetting losses from the drop in the long position's value.

Moving together with Garmin Stock

0.68

WELX

Winland Holdings

Pair Corr

Moving against Garmin Stock

0.68	ST	Sensata Technologies	Pair Corr
0.59	SVREW	SaverOne 2014	Pair Corr
0.52	VPG	Vishay Precision	Pair Corr

The ability to find closely correlated positions to Garmin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Garmin when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Garmin - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Garmin to buy it.

The correlation of Garmin is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Garmin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Garmin moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Garmin can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

When determining whether Garmin offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Garmin's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Garmin Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Garmin Stock:

How To Invest In Garmin

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Is Garmin Stock a good investment?

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What is Garmin's Net Worth?

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Largest Consumer Electronics Companies

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To learn how to invest in Garmin Stock, please use our How to Invest in Garmin guide.

You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.

Is Consumer Electronics space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Garmin. If investors know Garmin will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Garmin listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Quarterly Earnings Growth

0.545

Dividend Share

Earnings Share

7.87

Revenue Per Share

31.044

Quarterly Revenue Growth

0.241

The market value of Garmin is measured differently than its book value, which is the value of Garmin that is recorded on the company's balance sheet. Investors also form their own opinion of Garmin's value that differs from its market value or its book value, called intrinsic value, which is Garmin's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Garmin's market value can be influenced by many factors that don't directly affect Garmin's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.

Please note, there is a significant difference between Garmin's value and its price as these two are different measures arrived at by different means. Investors typically determine if Garmin is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Garmin's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

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Garmin Historical Income Statement

About Garmin Income Statement Analysis

Garmin Income Statement Chart

Total Revenue

Gross Profit

Other Operating Expenses

Operating Income

Garmin income statement Correlations

Garmin Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Garmin income statement Accounts

Pair Trading with Garmin

Moving together with Garmin Stock

Moving against Garmin Stock

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Other Operating Expenses	+ 1.0	Total Revenue
Ebitda	+ 1.0	Operating Income
Income Before Tax	+ 1.0	Operating Income
Gross Profit	+ 0.99	Total Revenue
Cost Of Revenue	+ 0.99	Total Revenue
Other Operating Expenses	+ 0.99	Gross Profit

Net Interest Income	- 0.75	Tax Provision
Tax Provision	- 0.72	Total Other Income Expense Net
Interest Income	- 0.66	Tax Provision
Tax Provision	- 0.65	Net Income
Non Operating Income Net Other	- 0.64	Selling And Marketing Expenses
Tax Provision	- 0.62	Selling General Administrative