Garmin Ltd (GRMN)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 3,696,549 | 3,480,778 | 3,257,748 | 3,154,299 | 3,004,954 | 2,885,775 | 2,827,705 | 2,797,089 | 2,806,774 | 2,833,909 | 2,859,357 | 2,911,382 | 2,890,459 | 2,909,337 | 2,881,373 | 2,615,952 | 2,481,336 | 2,329,809 | 2,229,284 | 2,289,219 |
| Revenue (ttm) | US$ in thousands | 6,281,160 | 5,991,650 | 5,653,490 | 5,483,240 | 5,254,540 | 5,104,140 | 4,948,720 | 4,835,520 | 4,850,560 | 4,890,830 | 4,957,220 | 5,058,410 | 4,952,040 | 4,911,850 | 4,854,200 | 4,399,994 | 4,178,615 | 3,929,445 | 3,728,516 | 3,823,804 |
| Gross profit margin | 58.85% | 58.09% | 57.62% | 57.53% | 57.19% | 56.54% | 57.14% | 57.84% | 57.86% | 57.94% | 57.68% | 57.56% | 58.37% | 59.23% | 59.36% | 59.45% | 59.38% | 59.29% | 59.79% | 59.87% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,696,549K ÷ $6,281,160K
= 58.85%
Garmin Ltd's gross profit margin has demonstrated some fluctuations over the past few years. It started at a high of 59.87% in March 2020 but experienced a slight decline to 58.37% by December 2021. The margin continued to decrease to 57.14% in June 2023 before showing a slight recovery to 58.85% by December 2024. These fluctuations indicate potential changes in the company's cost of goods sold relative to its revenue, which could be influenced by factors such as pricing strategies, input costs, and operational efficiencies. Overall, monitoring the gross profit margin can provide insights into Garmin's competitiveness and profitability in the market.
Peer comparison
Dec 31, 2024