Garmin Ltd (GRMN)
Net profit margin
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 1,289,636 | 1,040,781 | 994,386 | 964,320 | 973,585 | 966,449 | 1,014,640 | 1,073,764 | 1,082,201 | 1,129,612 | 1,183,990 | 1,051,173 | 992,324 | 1,019,569 | 934,018 | 973,494 | 952,487 | 781,845 | 738,193 | 704,879 |
| Revenue (ttm) | US$ in thousands | 5,246,720 | 5,096,320 | 4,940,900 | 4,827,700 | 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 | 3,748,274 | 3,578,152 | 3,462,914 | 3,399,351 |
| Net profit margin | 24.58% | 20.42% | 20.13% | 19.97% | 20.07% | 19.76% | 20.47% | 21.23% | 21.85% | 23.00% | 24.39% | 23.89% | 23.75% | 25.95% | 25.05% | 25.46% | 25.41% | 21.85% | 21.32% | 20.74% |
December 31, 2023 calculation
Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $1,289,636K ÷ $5,246,720K
= 24.58%
The net profit margin of Garmin Ltd has shown some fluctuations over the past several quarters. The company's net profit margin ranged from 19.76% to 25.95% during the period from March 2019 to December 2023.
On average, Garmin has maintained a healthy net profit margin of around 20% to 25% during this period, indicating that the company is efficiently translating its sales into profits after accounting for all expenses.
The highest net profit margin was recorded in March 2020 at 25.95%, while the lowest was in September 2022 at 19.76%. This variance could be due to factors such as changes in revenue, cost control measures, and other operational efficiency improvements.
Overall, the net profit margin trend for Garmin Ltd demonstrates the company's ability to generate a significant level of profitability relative to its revenue, which is a positive indicator of the company's financial health and operational effectiveness.
Peer comparison
Dec 31, 2023