Garmin Ltd. Website

Garmin Ltd.

NYSE-GRMN

Income Statement
Dec '14
Dec '15
Dec '16
Dec '17
Dec '18
Dec '19
Dec '20
Dec '21
Dec '22
Dec '23
LTM

Total Revenues

3,757.5

4,186.6

4,982.8

4,860.3

5,228.3

5,648.4

Total Revenues % Chg.

12.2%

11.4%

19%

-2.5%

7.6%

14.9%

Cost of Goods Sold, Total

1,523.5

1,705.2

2,092.3

2,053.5

2,223.3

2,390.6

Gross Profit

2,234

2,481.3

2,890.5

2,806.8

3,005

3,257.7

Selling General & Admin Expenses, Total

683

774.8

893.1

944

1,008.1

1,062

R&D Expenses

605.4

652.3

778.8

834.9

904.7

944.5

Other Operating Expenses, Total

1,288.4

1,427.1

1,671.8

1,778.9

1,912.8

2,006.5

Operating Income

945.6

1,054.2

1,218.6

1,027.8

1,092.2

1,251.3

Interest And Investment Income

52.8

37

28.6

40.8

77.3

97

Net Interest Expenses

52.8

37

28.6

40.8

77.3

97

Currency Exchange Gains (Loss)

-16.8

2.8

-45.3

-11.3

26.4

5.4

Other Non Operating Income (Expenses)

4.8

8

4.2

8.6

4.5

2

EBT, Excl. Unusual Items

986.4

1,102

1,206.2

1,066

1,200.4

1,355.7

Gain (Loss) On Sale Of Investments

0.8

1.4

0.6

-1

-0.1

-0

Gain (Loss) On Sale Of Assets

—

—

—

—

—

—

EBT, Incl. Unusual Items

987.2

1,103.4

1,206.8

1,065

1,200.4

1,355.6

Income Tax Expense

34.7

111.1

124.6

91.4

-89.3

-20.3

Earnings From Continuing Operations

952.5

992.3

1,082.2

973.6

1,289.6

1,376

Net Income

952.5

992.3

1,082.2

973.6

1,289.6

1,376

Net Income to Common Incl Extra Items

952.5

992.3

1,082.2

973.6

1,289.6

1,376

Net Income to Common Excl. Extra Items

952.5

992.3

1,082.2

973.6

1,289.6

1,376

Total Shares Outstanding

190.7

191.6

192.6

191.6

191.8

192.3

Weighted Avg. Shares Outstanding

189.9

191.1

192.2

192.5

191.4

191.7

Weighted Avg. Shares Outstanding Dil

190.9

191.9

193

193

192.1

192.6

EPS

5

5.2

5.6

5.1

6.7

7.2

EPS Diluted

5

5.2

5.6

5

6.7

7.1

EBITDA

1,051.8

1,181

1,373.4

1,191.7

1,269.7

1,430.2

Effective Tax Rate

3.5%

10.1%

10.3%

8.6%

-7.4%

-1.5%