Garmin Ltd Income Statement
Concept
Total Revenue
YoY
Cost of Goods Sold (COGS)
Gross Profit
Operating expenses
Selling, General & Administrative
Research & Development
Operating Income
Interest Expense
Income Before Tax
Tax Provision
Net Income
YoY
Total Expenses
Net Interest Income
EBITDA
Reconciled Depreciation
EBIT
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
5,228M
7.57%
2,223M
3,005M
1,913M
835M
905M
1,092M
0M
1,200M
-89M
1,290M
32.46%
4,136M
77M
1,243M
178M
1,066M
4,860M
-2.46%
2,054M
2,807M
1,779M
776M
835M
1,028M
41M
1,065M
91M
974M
-10.04%
3,832M
41M
1,203M
164M
1,028M
4,983M
19.02%
2,092M
2,890M
1,672M
660M
840M
1,219M
57M
1,207M
125M
1,082M
9.06%
3,764M
29M
1,419M
155M
1,219M
4,187M
11.42%
1,705M
2,481M
1,427M
570M
706M
1,054M
52M
1,103M
111M
992M
4.18%
3,132M
37M
1,178M
127M
1,054M
3,758M
12.25%
1,524M
2,234M
1,288M
519M
605M
946M
25M
987M
35M
952M
37.23%
2,812M
53M
1,069M
106M
946M
3,347M
8.44%
1,368M
1,980M
1,201M
478M
568M
778M
47M
823M
129M
694M
-0.13%
2,569M
47M
882M
96M
786M
3,087M
2.26%
1,304M
1,783M
1,114M
438M
512M
669M
37M
682M
-13M
695M
36.05%
2,418M
37M
778M
86M
691M
3,019M
7.03%
1,339M
1,680M
1,056M
411M
468M
624M
33M
630M
119M
511M
11.96%
2,395M
33M
742M
0M
656M
2,820M
-1.76%
1,282M
1,539M
989M
395M
427M
550M
30M
567M
111M
456M
25.26%
2,271M
0M
651M
0M
573M
2,871M
9.07%
1,266M
1,604M
914M
372M
395M
691M
36M
724M
0M
364M
-40.53%
2,180M
0M
772M
0M
695M
2,632M
-3.09%
1,225M
1,407M
833M
355M
365M
574M
35M
654M
0M
612M
12.91%
2,058M
0M
617M
0M
538M
2,716M
-1.55%
1,277M
1,438M
834M
370M
326M
604M
35M
625M
0M
542M
4.13%
2,112M
0M
715M
0M
624M
2,759M
2.55%
1,420M
1,339M
785M
341M
299M
554M
33M
584M
0M
521M
-10.90%
2,205M
0M
651M
0M
556M
2,690M
-8.71%
1,344M
1,346M
710M
288M
277M
637M
1M
577M
0M
585M
-16.95%
2,053M
0M
756M
0M
662M
2,946M
-15.67%
1,502M
1,444M
658M
264M
238M
786M
24M
809M
0M
704M
-3.94%
2,160M
0M
880M
0M
783M
3,494M
9.87%
1,941M
1,554M
691M
485M
206M
862M
1M
914M
0M
733M
-14.29%
2,632M
0M
924M
0M
845M
3,180M
79.27%
1,717M
1,463M
556M
397M
159M
907M
100M
978M
0M
855M
66.30%
2,273M
0M
942M
0M
878M
1,774M
72.61%
892M
882M
328M
215M
113M
555M
44M
595M
0M
514M
65.20%
1,219M
0M
595M
0M
550M
1,028M
34.78%
493M
535M
197M
122M
75M
338M
49M
373M
0M
311M
51.30%
690M
0M
367M
0M
323M
763M
33.08%
351M
411M
141M
79M
79M
271M
40M
255M
0M
206M
15.15%
492M
0M
330M
0M
296M
573M
23.19%
242M
331M
104M
60M
44M
227M
9M
226M
0M
179M
25.10%
346M
0M
255M
0M
235M
465M
26.01%
210M
255M
78M
46M
32M
177M
5M
183M
0M
143M
25.87%
288M
0M
193M
0M
177M
369M
6.76%
171M
198M
67M
39M
28M
131M
33M
152M
0M
113M
7.37%
238M
0M
130M
0M
120M
346M
48.65%
154M
191M
62M
54M
22M
129M
19M
141M
0M
106M
64.67%
216M
0M
130M
0M
122M
233M
-
100M
133M
50M
0M
17M
83M
1M
84M
0M
64M
64.67%
150M
0M
90M
0M
85M
Concept
Total Revenue
YoY
Cost of Goods Sold (COGS)
Gross Profit
Operating expenses
Selling, General & Administrative
Research & Development
Operating Income
Interest Expense
Income Before Tax
Tax Provision
Net Income
YoY
Total Expenses
Net Interest Income
EBITDA
Reconciled Depreciation
EBIT
4Q2023
3Q2023
2Q2023
1Q2023
4Q2022
3Q2022
2Q2022
1Q2022
4Q2021
3Q2021
2Q2021
1Q2021
4Q2020
3Q2020
2Q2020
1Q2020
4Q2019
3Q2019
2Q2019
1Q2019
4Q2018
3Q2018
2Q2018
1Q2018
4Q2017
3Q2017
2Q2017
1Q2017
4Q2016
3Q2016
2Q2016
1Q2016
4Q2015
3Q2015
2Q2015
1Q2015
4Q2014
3Q2014
2Q2014
1Q2014
4Q2013
3Q2013
2Q2013
1Q2013
4Q2012
3Q2012
2Q2012
1Q2012
4Q2011
3Q2011
2Q2011
1Q2011
4Q2010
3Q2010
2Q2010
1Q2010
4Q2009
3Q2009
2Q2009
1Q2009
4Q2008
3Q2008
2Q2008
1Q2008
4Q2007
3Q2007
2Q2007
1Q2007
4Q2006
3Q2006
2Q2006
1Q2006
4Q2005
3Q2005
2Q2005
1Q2005
4Q2004
3Q2004
2Q2004
1Q2004
4Q2003
3Q2003
2Q2003
1Q2003
4Q2002
3Q2002
2Q2002
1Q2002
4Q2001
3Q2001
2Q2001
1Q2001
4Q2000
3Q2000
2Q2000
1Q2000
1,483M
13.48%
618M
864M
524M
225M
237M
340M
0M
383M
-159M
542M
84.85%
1,142M
23M
366M
45M
321M
1,278M
12.02%
549M
729M
458M
201M
222M
270M
0M
280M
22M
257M
22.00%
1,007M
20M
327M
45M
282M
1,321M
6.44%
561M
759M
475M
204M
224M
284M
0M
316M
28M
288M
11.66%
1,036M
19M
318M
44M
274M
1,147M
-2.15%
495M
653M
456M
204M
221M
197M
32M
222M
19M
202M
-4.38%
950M
16M
233M
43M
197M
1,306M
-6.12%
561M
745M
478M
204M
216M
181M
14M
330M
37M
293M
2.49%
1,039M
14M
223M
41M
181M
1,140M
-4.32%
470M
670M
431M
190M
209M
239M
10M
220M
9M
211M
-18.60%
901M
10M
309M
39M
239M
1,241M
-6.49%
512M
729M
436M
191M
202M
293M
8M
279M
21M
258M
-18.65%
948M
8M
357M
42M
293M
1,173M
9.36%
510M
662M
434M
191M
209M
229M
8M
236M
24M
212M
-3.83%
944M
8M
273M
41M
229M
1,392M
2.97%
619M
772M
457M
174M
222M
315M
7M
309M
23M
286M
-14.21%
1,076M
7M
330M
41M
289M
1,192M
7.46%
496M
696M
413M
163M
214M
283M
7M
275M
16M
259M
-17.35%
909M
7M
337M
39M
298M
1,327M
52.54%
546M
781M
410M
166M
201M
371M
7M
372M
55M
317M
72.11%
956M
7M
416M
38M
378M
1,072M
25.26%
431M
642M
392M
158M
203M
250M
8M
251M
30M
220M
36.51%
823M
8M
295M
37M
258M
1,351M
22.61%
560M
791M
420M
159M
200M
371M
7M
391M
58M
334M
-7.55%
980M
7M
395M
37M
359M
1,109M
18.71%
441M
668M
351M
142M
175M
317M
8M
337M
23M
313M
37.54%
792M
8M
307M
33M
274M
870M
-8.90%
354M
515M
327M
132M
166M
188M
10M
198M
13M
184M
-17.65%
681M
10M
222M
29M
193M
856M
11.76%
349M
507M
329M
137M
165M
177M
12M
178M
16M
161M
14.99%
679M
12M
221M
28M
193M
1,102M
18.25%
463M
639M
363M
138M
162M
277M
13M
287M
-73M
361M
89.74%
826M
13M
309M
29M
281M
934M
15.35%
367M
567M
306M
125M
149M
261M
12M
258M
30M
228M
23.70%
673M
12M
305M
27M
278M
955M
6.75%
379M
575M
319M
129M
149M
256M
14M
276M
52M
224M
17.50%
699M
14M
280M
27M
253M
766M
7.76%
314M
452M
300M
127M
146M
151M
14M
166M
26M
140M
8.35%
615M
14M
175M
24M
151M
932M
4.91%
383M
549M
326M
126M
145M
223M
15M
232M
0M
190M
37.02%
709M
0M
227M
25M
202M
810M
9.01%
329M
481M
285M
115M
139M
196M
11M
201M
0M
184M
24.96%
614M
0M
226M
23M
203M
894M
9.50%
371M
523M
306M
121M
142M
218M
11M
236M
0M
190M
11.34%
677M
0M
240M
25M
215M
711M
11.33%
284M
427M
284M
117M
142M
142M
10M
154M
0M
129M
-45.60%
569M
0M
165M
23M
141M
888M
3.22%
389M
500M
320M
129M
133M
179M
10M
180M
0M
139M
1.59%
709M
0M
188M
23M
166M
743M
2.88%
309M
434M
264M
102M
130M
170M
9M
186M
0M
147M
17.88%
573M
0M
182M
21M
161M
817M
0.65%
339M
478M
275M
105M
127M
203M
9M
228M
0M
171M
6.14%
614M
0M
209M
21M
188M
639M
2.32%
266M
372M
256M
102M
122M
116M
8M
88M
0M
238M
169.96%
522M
0M
176M
22M
154M
861M
10.16%
390M
471M
311M
114M
129M
160M
9M
169M
0M
137M
3.19%
701M
0M
185M
24M
161M
722M
6.26%
316M
406M
246M
97M
116M
160M
8M
150M
0M
125M
4.82%
563M
0M
179M
21M
158M
812M
4.88%
349M
463M
262M
104M
114M
201M
8M
204M
0M
161M
16.92%
611M
0M
228M
21M
206M
624M
6.60%
284M
340M
236M
96M
108M
104M
7M
108M
0M
88M
31.89%
520M
0M
129M
20M
109M
781M
-2.73%
368M
413M
267M
105M
106M
146M
7M
153M
0M
132M
-37.03%
636M
0M
175M
20M
155M
680M
-3.77%
318M
362M
237M
94M
106M
125M
7M
165M
0M
119M
-181.25%
554M
0M
115M
20M
95M
774M
-0.52%
355M
419M
253M
98M
109M
167M
7M
174M
0M
138M
-24.30%
607M
0M
186M
19M
167M
585M
0.37%
241M
344M
232M
99M
106M
112M
8M
76M
0M
67M
-43.79%
474M
0M
175M
19M
156M
803M
5.74%
372M
431M
255M
99M
102M
176M
7M
200M
0M
210M
28.52%
627M
0M
160M
21M
139M
706M
9.73%
308M
398M
223M
91M
99M
176M
9M
173M
0M
-147M
-178.24%
531M
0M
206M
18M
188M
778M
11.67%
333M
444M
226M
92M
98M
219M
10M
209M
0M
182M
5.50%
559M
0M
258M
19M
239M
583M
9.64%
252M
331M
210M
90M
96M
120M
10M
142M
0M
119M
34.01%
463M
0M
126M
18M
108M
760M
-1.15%
365M
395M
222M
95M
93M
172M
10M
205M
0M
164M
26.52%
587M
0M
155M
18M
137M
644M
-4.27%
291M
353M
201M
86M
88M
152M
8M
161M
0M
188M
33.72%
492M
0M
171M
19M
153M
697M
-3.01%
313M
384M
214M
88M
96M
170M
8M
207M
0M
172M
-7.22%
527M
0M
162M
20M
142M
532M
-4.43%
256M
276M
196M
86M
88M
80M
9M
82M
0M
89M
2.08%
452M
0M
110M
22M
88M
769M
-15.51%
395M
374M
224M
94M
83M
150M
9M
155M
0M
129M
-21.90%
619M
0M
181M
28M
154M
672M
0.81%
313M
359M
199M
86M
82M
160M
8M
163M
0M
140M
-6.67%
512M
0M
177M
12M
165M
718M
6.54%
296M
422M
218M
99M
80M
204M
9M
207M
0M
186M
69.81%
514M
0M
235M
26M
209M
557M
9.60%
273M
284M
193M
90M
80M
90M
10M
100M
0M
87M
-9.03%
466M
0M
116M
25M
91M
910M
8.59%
476M
434M
234M
93M
85M
200M
9M
185M
0M
166M
24.57%
710M
0M
225M
34M
190M
667M
-3.66%
323M
344M
197M
89M
73M
147M
8M
175M
0M
150M
-46.21%
520M
0M
150M
22M
128M
674M
-7.50%
352M
322M
191M
86M
71M
132M
8M
127M
0M
109M
-18.80%
543M
0M
160M
16M
144M
508M
17.81%
269M
238M
164M
73M
70M
75M
7M
97M
0M
95M
155.79%
433M
0M
82M
22M
60M
838M
-20.92%
458M
380M
195M
79M
72M
185M
5M
156M
0M
133M
-52.26%
653M
0M
183M
22M
160M
692M
-11.38%
348M
344M
177M
67M
70M
167M
6M
211M
0M
280M
29.94%
526M
0M
149M
21M
128M
729M
8.92%
337M
392M
190M
74M
73M
202M
6M
164M
0M
135M
-16.71%
527M
0M
275M
30M
245M
431M
-1.29%
200M
231M
148M
68M
62M
83M
7M
46M
0M
37M
-23.09%
348M
0M
150M
22M
128M
1,059M
1.06%
573M
487M
195M
71M
72M
292M
7M
292M
0M
278M
76.51%
767M
0M
352M
31M
321M
781M
-10.24%
372M
410M
173M
71M
56M
237M
6M
257M
0M
215M
25.63%
544M
0M
247M
24M
223M
669M
-26.61%
317M
352M
152M
62M
56M
199M
5M
200M
0M
162M
-36.79%
470M
0M
224M
21M
204M
437M
-34.21%
241M
196M
138M
60M
55M
58M
5M
60M
0M
49M
-67.16%
379M
0M
83M
22M
61M
1,048M
-13.87%
618M
431M
194M
144M
50M
236M
125M
204M
0M
158M
-48.67%
812M
0M
353M
24M
330M
870M
19.44%
485M
386M
171M
119M
53M
214M
15M
211M
0M
171M
-11.51%
656M
0M
254M
28M
226M
912M
22.79%
495M
417M
179M
125M
54M
239M
146M
316M
0M
256M
19.46%
673M
0M
180M
9M
170M
664M
34.88%
344M
320M
147M
98M
50M
173M
11M
182M
0M
148M
5.66%
491M
0M
189M
18M
171M
1,217M
99.11%
708M
509M
196M
148M
48M
313M
59M
348M
0M
307M
70.38%
904M
0M
311M
22M
289M
729M
78.60%
387M
342M
128M
87M
41M
214M
5M
223M
0M
194M
57.35%
515M
0M
229M
12M
217M
742M
71.68%
368M
375M
133M
95M
38M
242M
1M
247M
0M
214M
73.89%
501M
0M
261M
13M
247M
492M
52.70%
254M
238M
99M
66M
34M
138M
36M
161M
0M
140M
59.81%
354M
0M
141M
16M
125M
611M
91.43%
307M
304M
106M
74M
31M
199M
9M
200M
0M
180M
106.97%
412M
0M
218M
9M
209M
408M
62.34%
209M
199M
78M
48M
30M
121M
40M
146M
0M
123M
19.99%
287M
0M
114M
8M
106M
432M
63.51%
216M
216M
82M
55M
27M
135M
14M
146M
0M
123M
66.17%
298M
0M
145M
13M
132M
322M
67.30%
160M
163M
63M
38M
25M
100M
0M
104M
0M
88M
84.63%
222M
0M
118M
14M
104M
319M
44.51%
157M
162M
64M
44M
20M
98M
12M
96M
0M
87M
83.05%
221M
0M
117M
9M
107M
251M
29.81%
122M
129M
44M
24M
20M
85M
77M
126M
0M
102M
52.68%
166M
0M
58M
9M
49M
264M
39.46%
125M
140M
51M
33M
18M
89M
2M
29M
0M
74M
31.75%
175M
0M
106M
16M
91M
193M
21.68%
89M
103M
37M
21M
17M
66M
18M
59M
0M
47M
36.78%
127M
0M
86M
9M
77M
221M
29.86%
100M
121M
41M
23M
35M
80M
47M
58M
0M
48M
-12.79%
141M
0M
114M
9M
105M
194M
42.82%
82M
112M
35M
20M
15M
77M
11M
84M
0M
67M
90.12%
116M
0M
83M
10M
73M
190M
32.17%
91M
98M
34M
19M
15M
64M
9M
70M
0M
56M
19.20%
125M
0M
71M
10M
61M
158M
27.90%
78M
80M
31M
17M
14M
50M
13M
44M
0M
35M
-16.48%
109M
0M
63M
5M
57M
170M
27.26%
75M
96M
33M
19M
14M
63M
11M
69M
0M
55M
20.06%
107M
0M
64M
5M
58M
136M
25.80%
59M
77M
25M
13M
12M
52M
16M
45M
0M
35M
-8.12%
84M
0M
66M
5M
61M
143M
16.82%
60M
84M
24M
14M
10M
60M
4M
59M
0M
47M
46.97%
83M
0M
68M
5M
63M
124M
22.74%
49M
75M
22M
14M
9M
52M
0M
53M
0M
41M
55.05%
72M
0M
58M
5M
53M
134M
43.72%
60M
74M
21M
12M
9M
53M
1M
55M
0M
45M
62.11%
81M
0M
59M
6M
53M
108M
23.96%
49M
59M
19M
11M
8M
40M
20M
51M
0M
38M
53.71%
68M
0M
34M
3M
30M
123M
18.53%
55M
68M
19M
11M
7M
49M
16M
42M
0M
32M
-12.18%
74M
0M
61M
3M
58M
101M
17.91%
46M
54M
19M
10M
8M
35M
0M
36M
0M
27M
12.45%
66M
0M
39M
4M
36M
93M
8.59%
44M
49M
18M
10M
8M
32M
10M
38M
0M
28M
1.57%
61M
0M
32M
4M
28M
87M
0.27%
39M
48M
17M
10M
7M
31M
3M
34M
0M
25M
-3.91%
56M
0M
32M
2M
31M
104M
19.54%
49M
55M
17M
10M
7M
38M
19M
49M
0M
37M
40.69%
65M
0M
33M
3M
30M
86M
-1.34%
40M
46M
16M
9M
6M
30M
1M
32M
0M
24M
-8.53%
55M
0M
34M
2M
31M
86M
-
41M
86M
-216M
15M
6M
-131M
2M
39M
0M
28M
-8.53%
216M
0M
-131M
0M
0M
87M
-
39M
87M
0M
14M
6M
87M
0M
37M
0M
26M
-8.53%
0M
0M
87M
0M
0M
87M
-
42M
87M
0M
13M
5M
87M
0M
38M
0M
26M
-8.53%
0M
0M
87M
0M
0M
87M
-
33M
87M
0M
12M
5M
87M
0M
27M
0M
26M
-8.53%
0M
0M
87M
0M
0M