Garmin Ltd (GRMN)
Net profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,411,440 | 1,289,640 | 973,585 | 1,082,200 | 992,324 |
| Revenue | US$ in thousands | 6,281,210 | 5,254,470 | 4,851,100 | 4,937,230 | 4,191,200 |
| Net profit margin | 22.47% | 24.54% | 20.07% | 21.92% | 23.68% |
December 31, 2024 calculation
Net profit margin = Net income ÷ Revenue
= $1,411,440K ÷ $6,281,210K
= 22.47%
The net profit margin of Garmin Ltd has shown some fluctuations over the past five years. In December 2020, the net profit margin was 23.68%, indicating that for every dollar of revenue generated, the company had a net profit of approximately 23.68 cents.
In the following year, by December 2021, the net profit margin decreased slightly to 21.92%, potentially reflecting changes in expenses or revenue streams impacting profitability.
By December 2022, the net profit margin further declined to 20.07%, suggesting potential challenges in maintaining profitability relative to the previous years. However, the company managed to reverse this trend in December 2023, achieving a net profit margin of 24.54%, marking a notable improvement in profitability compared to the preceding year.
In the most recent financial data available, by December 2024, the net profit margin decreased slightly to 22.47%. Overall, Garmin Ltd's net profit margin performance has displayed fluctuations over the years, reflecting changing dynamics in the company's revenue and cost structures.
Peer comparison
Dec 31, 2024