Garmin yesterday announced the financial results of its fourth quarter and fiscal 2025.
For the year, the company reported $7.25 billion in consolidated revenue across all of its segments, a 15% increase from the prior year. Gross margin was 58.7%, which was in line with 2024, and operating margin increased 0.6% compared with the previous year.
Fourth quarter highlights include $2.12 billion in consolidated revenue, a 17% increase from the prior-year quarter. Gross margin declined to 59.2%, a 0.1% drop from the previous-year quarter, and operating margin increased 0.6% to 28.9%
“[It was] was another year of remarkable growth and achievement for Garmin with record consolidated revenue, record revenue in all five of our segments, and record consolidated operating income,” president and CEO Cliff Pemble said in a statement. “We attribute this strong performance to our strategic focus on market diversification and creating superior products that are essential to our customers’ lives. Looking forward, we anticipate building on this momentum with many exciting new product launches throughout the year.”
Net sales in the marine segment increased 18% in the fourth quarter to $296.9 million, driven largely by increased plotter sales. Gross and operating margins were 52% and 18%, respectively, resulting in $52 million of operating income.
For the year, the marine segment posted $1.2 billion in net sales, a 10% increase over 2024.
Garmin forecasts $7.9 billion in revenue for 2026, gross margin of 58.5% and operating margin of 25.5%.
