Garmin Ltd.
Income Statement
Last updated:
Income statement is a financial statement that shows how profitable a business was over a given reporting period presenting its revenue, expenses or net income. Garmin Ltd.'s past years’ income statements indicate that its last revenue has increased compared to the previous period by 8% to $5,228,252,000. The net income raised on $1,289,636,000 and profit margin reached 25%. Total operating expenses were $1,912,795,000.
Profit Margin
| 2014 | 2.87B | 364.21M | 12.69% |
|---|---|---|---|
| 2015 | 2.82B | 456.22M | 16.18% |
| 2016 | 3.01B | 510.81M | 16.92% |
| 2017 | 3.08B | 694.95M | 22.51% |
| 2018 | 3.34B | 694.08M | 20.73% |
| 2019 | 3.75B | 952.48M | 25.35% |
| 2020 | 4.18B | 992.32M | 23.7% |
| 2021 | 4.98B | 1.08B | 21.72% |
| 2022 | 4.86B | 973.58M | 20.03% |
| 2023 | 5.22B | 1.28B | 24.67% |
GRMN Income Statement (2014 – 2023)
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||
Revenue | 5.22B | 4.86B | 4.98B | 4.18B | 3.75B | 3.34B | 3.08B | 3.01B | 2.82B | 2.87B |
Cost of revenue | 2.22B | 2.05B | 2.09B | 1.70B | 1.52B | 1.36B | 1.30B | 1.33B | 1.28B | 1.26B |
Gross profit | 3.00B | 2.80B | 2.89B | 2.48B | 2.23B | 1.97B | 1.78B | 1.67B | 1.53B | 1.60B |
Operating exp. | ||||||||||
Research and development | 904.69M | 834.92M | 840.02M | 705.68M | 605.36M | 567.80M | 511.63M | 467.96M | 427.04M | 395.12M |
Selling and marketing | 173.10M | 168.04M | 171.82M | 151.16M | 164.45M | 155.39M | 164.69M | 177.14M | 167.16M | 146.63M |
Total operating expenses | 1.91B | 1.77B | 1.67B | 1.42B | 1.28B | 1.20B | 1.11B | 1.05B | 989.12M | 913.78M |
Operating income | 1.09B | 1.02B | 1.21B | 1.05B | 945.58M | 778.34M | 668.86M | 623.90M | 549.58M | 690.62M |
Other income (expenses), net | 108.19M | 37.12M | -11.82M | 49.17M | 41.63M | -2.24M | 13.43M | -27.64M | 17.60M | 33.11M |
Income before tax | 1.20B | 1.06B | 1.20B | 1.10B | 987.22M | 823.24M | 682.29M | 629.67M | 567.18M | 723.74M |
Income tax expense | -89.28M | 91.38M | 124.59M | 111.08M | 34.73M | 129.16M | -12.66M | 118.85M | 110.96M | 359.53M |
Net income | 1.28B | 973.58M | 1.08B | 992.32M | 952.48M | 694.08M | 694.95M | 510.81M | 456.22M | 364.21M |
Earnings per share | ||||||||||
Basic EPS | 6.74 | 5.06 | 5.63 | 5.19 | 5.01 | 3.68 | 3.7 | 2.71 | 2.39 | 1.89 |
Diluted EPS | 6.71 | 5.04 | 5.61 | 5.17 | 4.99 | 3.66 | 3.68 | 2.7 | 2.39 | 1.88 |
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