Garmin Q4 FY25: where the revenue came from and where it went
The whole income statement of Garmin for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Sep 28 – Dec 27, 2025
- Reported
- Feb 18, 2026
Revenue$2.13B
+17% year over year
Gross profit$1.26B
59% margin
Operating profit$0.61B
29% margin
Net profit$0.53B
25% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 2.13 | 100% | +17% |
| At point in time | 2.04 | 96% | +17% |
| Transferred over time | 0.09 | 4% | −1% |
| Cost of revenue | −0.87 | 41% | |
| Gross profit | 1.26 | 59% margin | +0pp |
| R&D | −0.30 | 14% | +0pp |
| SG&A | −0.35 | 16% | +0pp |
| Operating profit | 0.61 | 29% margin | +1pp |
| Other income, net | 0.02 | ||
| Tax | −0.11 | ||
| Net profit | 0.53 | 25% margin | +1pp |
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