Form 8-K

8-K — GARMIN LTD

Accession: 0001193125-26-322113

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0001121788

SIC: 3812 (SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — grmn-20260729.htm (Primary)

EX-99.1 (grmn-ex99_1.htm)

GRAPHIC (img45548057_0.gif)

GRAPHIC (img45548057_1.gif)

GRAPHIC (img45548057_2.gif)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: grmn-20260729.htm · Sequence: 1

8-K

0001121788false00011217882026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

GARMIN LTD.

(Exact name of registrant as specified in its charter)

Switzerland

001-41118

98-0229227

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

Mühlentalstrasse 36/38

8200 Schaffhausen

Switzerland

(Address of principal executive offices)

Registrant’s telephone number, including area code: +41 52 630 1600

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Registered Shares, $0.10 Per Share Par Value

GRMN

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On July 29, 2026, Garmin Ltd. (“the Company”) issued a press release announcing its financial results for the fiscal second quarter ended June 27, 2026. A copy of the press release is attached as Exhibit 99.1.

The information in Item 2.02 and Exhibit 99.1 to this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of or otherwise subject to the liabilities under Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Unless expressly incorporated into a filing of Garmin Ltd. under the Securities Act of 1933, as amended, or the Exchange Act made after the date hereof, the information contained in Item 2.02 and Exhibit 99.1 hereto shall not be incorporated by reference into any filing of the registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits. The following exhibits are furnished herewith.

Exhibit No.

Description

99.1

Press Release dated July 29, 2026

104

The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GARMIN LTD.

July 29, 2026

/s/ Joshua H. Maxfield

Joshua H. Maxfield

Vice President and General Counsel

EX-99.1

Filename: grmn-ex99_1.htm · Sequence: 2

EX-99.1

EXHIBIT 99.1

Garmin announces second quarter 2026 results

Company reports record second quarter operating results and raises full year guidance

Schaffhausen, Switzerland / July 29, 2026 / PR Newswire – Garmin® Ltd. (NYSE: GRMN), today announced results for the second quarter ended June 27, 2026.

Highlights include:

•

Record consolidated revenue of approximately $2.02 billion, an 11% increase compared to the prior year quarter

•

Gross and operating margins expanded to 62.4% and 30.4% respectively, compared to the prior year quarter

•

Record operating income of $616 million, a 30% increase compared to the prior year quarter

•

GAAP EPS of $2.80 and pro forma EPS(1) of $2.81, representing a 29% increase in pro forma EPS compared to the prior year quarter

•

Recently completed the strategic acquisition of TrainingPeaks® and TrainHeroic®, leading training platforms for athletes and coaches

•

Recently unveiled AXISTM, an all-new highly scalable family of flight displays

•

Recently announced CIRQATM Smart Band, our first screenless smart band, that includes a rich set of health and wellness features

(In thousands, except per share information)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

YoY

June 27,

June 28,

YoY

2026

2025

Change

2026

2025

Change

Net sales

2,022,092

1,814,564

11%

3,775,582

3,349,663

13%

Fitness

756,823

605,425

25%

1,303,646

990,147

32%

Outdoor

482,740

490,357

(2)%

900,270

928,853

(3)%

Aviation

268,749

249,366

532,590

472,481

13%

Marine

341,369

299,262

14%

696,385

618,699

13%

Auto OEM

172,411

170,154

342,691

339,483

Gross profit

1,262,022

1,067,012

18%

2,304,310

1,951,557

18%

Gross margin %

62.4

58.8

61.0

58.3

Operating Income

615,508

472,295

30%

1,047,173

805,119

30%

Operating income %

30.4

26.0

27.7

24.0

GAAP diluted EPS

2.80

2.07

35%

4.89

3.79

29%

Pro forma diluted EPS(1)

2.81

2.17

29%

4.89

3.78

29%

(1) See attached Non-GAAP Financial Information for discussion and reconciliation of non-GAAP financial measures, including pro forma diluted EPS

Executive Overview from Cliff Pemble, President and Chief Executive Officer:

“We delivered another quarter of outstanding financial results with double-digit revenue growth and robust margin expansion, which resulted in record revenue and operating income. Each business segment contributed to these impressive results. Our performance in the first half of 2026 was very strong giving us confidence to raise our full year 2026 consolidated revenue and EPS guidance.” - Cliff Pemble, President and Chief Executive Officer of Garmin Ltd.

Fitness:

Revenue from the fitness segment increased 25% in the second quarter with growth across all product categories, led by strong demand for advanced wearables. Gross and operating margins were 64% and 37%, respectively, resulting in $277 million of operating income. During the quarter, we launched the Forerunner® 70 and Forerunner 170, easy-to-use GPS running smartwatches designed to help runners of all levels reach their goals. In addition, we celebrated global running day and global cycling day with the release of our running and cycling data reports, highlighting how athletes around the world are recording runs and rides. More recently, we announced the CIRQA Smart Band, a screenless wearable that offers rich wellness and fitness insights without requiring a subscription and further expands our addressable market for wellness devices.

Outdoor:

Revenue from the outdoor segment decreased 2% in the second quarter primarily due to the consumer auto and adventure watch product categories. Gross and operating margins were 69% and 34%, respectively, resulting in $164 million of operating income. We recently announced the Approach® Z10, a compact laser rangefinder that sends precise distances to compatible devices bringing a high-fidelity experience to game play, and we also released our Trends in Golf Data Report, highlighting that participation in the sport is up and players improving in nearly every shot category.

Aviation:

Revenue from the aviation segment increased 8% in the second quarter with growth in both the OEM and aftermarket product categories. Gross and operating margins were 75% and 27%, respectively, resulting in $72 million of operating income. For the 11th consecutive year, we were named Best Supplier of the Year by Embraer, recognizing us for outstanding performance as a supplier of Electrical and Electronic Systems for their Phenom business jets. During the quarter, we launched the D2TM Mach 2 Pro, our first aviator smartwatch with inReach technology. We also recently announced AXIS, an all-new family of highly integrated and scalable cockpit display solutions for a broad range of certified and experimental aircraft models.

Marine:

Revenue from the marine segment increased 14% in the second quarter with broad-based growth across multiple categories. Gross and operating margins were 61% and 29%, respectively, resulting in $100 million of operating income. During the quarter, we launched the Garmin SignalTM VHF marine radios which offer color touchscreens and new features that enhance communication on the water. We recently announced the next generation LiveScopeTM 2, delivering live sonar images with improved range and clarity.

Auto OEM:

Revenue from the auto OEM segment increased 1% during the second quarter primarily due to domain controllers. Operating income improved to $3 million in the quarter, compared to an operating loss in the prior-year period, driven by improved gross profit and lower research and development expenses.

Additional Financial Information:

The consolidated gross margin expanded 360 basis points to 62.4%, compared to the prior year quarter with higher margins across all segments. The consolidated gross margin increase was primarily attributable to favorable product mix within certain segments and approximately $21 million in refunds of previously paid tariffs.

Total operating expenses in the second quarter were $647 million, a 9% increase over the prior year. Research and development and selling, general and administrative expenses increased 10% and 8%, respectively, driven primarily by personnel related costs.

The effective tax rate in the second quarter was 16.8%, compared to an effective tax rate of 16.5% in the prior year quarter. The increase in the effective tax rate is primarily due to income mix by jurisdiction.

In the second quarter of 2026, we generated operating cash flows of $404 million and free cash flow(1) of $276 million. We paid a quarterly dividend of $202 million and repurchased $43 million of the Company’s shares within the quarter, leaving approximately $448 million remaining as of June 27, 2026 in the $500 million share repurchase program authorized through December 2028. We ended the quarter with cash and marketable securities of approximately $4.4 billion.

(1)

See attached Non-GAAP Financial Information for discussion and reconciliation of non-GAAP financial measures, including pro forma effective tax rate and free cash flow.

Fiscal Year 2026 Guidance:

Based on our performance during the first half of 2026 and our positive outlook for the remainder of the year, we are raising our full year 2026 guidance. We now anticipate revenue of approximately $8.05 billion and pro forma EPS of $10.00 based on gross margin of 59.7%, operating margin of 27.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

Dividend Recommendation:

At the 2026 annual shareholders’ meeting, Garmin shareholders, in accordance with Swiss corporate law, approved a cash dividend in the total amount of $4.20 per share, payable in four equal installments on dates to be determined by the Board in its discretion. The first payment was made on June 26, 2026. The Board of Directors has established September 25, 2026, as the payment date for the next dividend installment of $1.05 per share with a record date of September 11, 2026. The Board currently anticipates the scheduling of the remaining quarterly dividend installments as follows:

Dividend Date

Record Date

$’s per share

December 24, 2026

December 11, 2026

$1.05

March 26, 2027

March 12, 2027

$1.05

Webcast Information/Forward-Looking Statements:

The information for Garmin Ltd.’s earnings call is as follows:

When:

Wednesday, July 29, 2026 10:30 a.m. Eastern

Where:

Join a live stream of the call at the following link

https://investors.garmin.com/news-and-events/default.aspx

An archive of the live webcast will be available until July 28, 2027 on the Garmin website at www.garmin.com. To access the replay, click on the Investors link and click over to the News & Events page.

This release includes projections and other forward-looking statements regarding Garmin Ltd. and its business that are commonly identified by words such as “anticipates,” “would,” “may,” “expects,” “estimates,” “plans,” “intends,” “projects,” and other words or phrases with similar meanings. Any statements regarding the Company’s expected fiscal 2026 GAAP and pro forma estimated earnings, EPS, and effective tax rate, and the Company’s expected segment revenue growth rates, consolidated revenue, gross margins, operating margins, tariffs and other global trade related impacts, potential future acquisitions, share repurchase programs, currency movements, expenses, pricing, new product launches, market reach, statements relating to possible future dividends, and the Company’s plans and objectives are forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors that are described in the Annual Report on Form 10-K for the year ended December 27, 2025 filed by Garmin with the Securities and Exchange Commission (Commission file number 001-41118). A copy of Garmin’s 2025 Form 10-K can be downloaded from https://investors.garmin.com/financials/sec-filings/default.aspx. All information provided in this release and in the attachments is as of June 27, 2026. We undertake no duty to update this information unless required by law.

This release and the attachments contain non-GAAP financial measures. A reconciliation to the nearest GAAP measure and a discussion of the Company’s use of these measures are included in the attachments.

Garmin, the Garmin logo, the Garmin delta, Approach, Forerunner, TrainingPeaks, TrainHeroic, and inReach are trademarks of Garmin Ltd. or its subsidiaries and are registered in one or more countries, including the U.S. AXIS, LiveScope, D2, CIRQA, and Garmin Signal are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Investor Relations Contact:

Media Relations Contact:

Teri Seck

Krista Klaus

+1 913 397 8200

investor.relations@garmin.com

media.relations@garmin.com

Garmin Ltd. and Subsidiaries

Condensed Consolidated Statements of Income (Unaudited)

(In thousands, except per share information)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

June 27,

June 28,

2026

2025

2026

2025

Net sales

2,022,092

1,814,564

3,775,582

3,349,663

Cost of goods sold

760,070

747,552

1,471,272

1,398,106

Gross profit

1,262,022

1,067,012

2,304,310

1,951,557

Research and development expense

303,940

276,663

599,758

544,783

Selling, general and administrative expenses

342,574

318,054

657,379

601,655

Total operating expense

646,514

594,717

1,257,137

1,146,438

Operating income

615,508

472,295

1,047,173

805,119

Other income (expense):

Interest income

38,173

31,724

74,147

62,231

Foreign currency (losses) gains

(2,492

)

(23,512

)

630

1,248

Other (expense) income

(128

)

(256

)

1,640

730

Total other income (expense)

35,553

7,956

76,417

64,209

Income before income taxes

651,061

480,251

1,123,590

869,328

Income tax provision

109,141

79,429

176,591

135,737

Net income

541,920

400,822

946,999

733,591

Net income per share:

Basic

2.81

2.08

4.91

3.81

Diluted

2.80

2.07

4.89

3.79

Weighted average common shares outstanding:

Basic

192,836

192,523

192,755

192,534

Diluted

193,471

193,416

193,515

193,557

Garmin Ltd. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

June 27,

2026

December 27,

2025

Assets

Current assets:

Cash and cash equivalents

2,334,235

2,278,646

Marketable securities

331,955

459,202

Accounts receivable, net

1,153,215

1,253,015

Inventories

1,966,061

1,772,257

Deferred costs

13,673

17,538

Prepaid expenses and other current assets

509,473

467,558

Total current assets

6,308,612

6,248,216

Property and equipment, net

1,454,228

1,375,348

Operating lease right-of-use assets

212,297

196,183

Noncurrent marketable securities

1,703,680

1,396,929

Deferred income tax assets

717,795

718,094

Noncurrent deferred costs

3,930

4,373

Goodwill

748,474

760,241

Other intangible assets, net

179,054

198,362

Other noncurrent assets

95,821

95,923

Total assets

11,423,891

10,993,669

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

401,318

347,493

Salaries and benefits payable

201,311

228,267

Accrued warranty costs

71,560

72,921

Accrued sales program costs

118,531

153,193

Other accrued expenses

249,765

257,651

Deferred revenue

106,956

105,646

Income taxes payable

326,081

381,549

Dividend payable

607,651

173,351

Total current liabilities

2,083,173

1,720,071

Deferred income tax liabilities

107,365

109,701

Noncurrent income taxes payable

3,754

3,596

Noncurrent deferred revenue

22,072

22,277

Noncurrent operating lease liabilities

177,957

164,835

Other noncurrent liabilities

557

625

Stockholders’ equity:

Common shares, $0.10 par value (194,901 and 194,901 shares authorized and

issued; 192,910 and 192,620 shares outstanding)

19,490

Additional paid-in capital

2,381,041

2,368,670

Treasury shares (1,991 and 2,281 shares)

(427,840

)

(406,423

)

Retained earnings

7,106,837

6,970,182

Accumulated other comprehensive income (loss)

(50,515

)

20,645

Total stockholders’ equity

9,029,013

8,972,564

Total liabilities and stockholders’ equity

11,423,891

10,993,669

Garmin Ltd. and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

26-Weeks Ended

June 27, 2026

June 28, 2025

Operating Activities:

Net income

946,999

733,591

Adjustments to reconcile net income to net cash provided by

operating activities:

Depreciation

81,270

75,980

Amortization

16,711

17,423

Loss on sale or disposal of property and equipment

350

Unrealized foreign currency losses (gains)

2,575

(16,566

)

Deferred income taxes

3,418

(49,754

)

Stock compensation expense

88,793

82,279

Realized loss on marketable securities

597

706

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable, net of allowance for doubtful accounts

84,187

17,902

Inventories

(209,361

)

(206,276

)

Other current and noncurrent assets

(44,687

)

(37,092

)

Accounts payable

59,547

(2,591

)

Other current and noncurrent liabilities

(68,307

)

2,408

Deferred revenue

1,187

(6,843

)

Deferred costs

4,310

7,262

Income taxes

(27,750

)

(24,820

)

Net cash provided by operating activities

939,544

593,959

Investing activities:

Purchases of property and equipment

(194,395

)

(85,738

)

Purchase of marketable securities

(510,525

)

(465,372

)

Redemption of marketable securities

311,308

306,469

Net payments for acquisitions

(2,993

)

(1,973

)

Other investing activities, net

(68

)

503

Net cash used in investing activities

(396,673

)

(246,111

)

Financing activities:

Dividends

(376,045

)

(317,748

)

Proceeds from issuance of treasury shares related to equity awards

31,442

29,065

Purchase of treasury shares related to equity awards

(47,063

)

(33,431

)

Purchase of treasury shares under share repurchase plan

(81,581

)

(93,632

)

Net cash used in financing activities

(473,247

)

(415,746

)

Effect of exchange rate changes on cash and cash equivalents

(14,014

)

60,650

Net increase (decrease) in cash, cash equivalents, and restricted cash

55,610

(7,248

)

Cash, cash equivalents, and restricted cash at beginning of period

2,279,360

2,080,154

Cash, cash equivalents, and restricted cash at end of period

2,334,970

2,072,906

Garmin Ltd. and Subsidiaries

Net Sales, Gross Profit and Operating Income by Segment (Unaudited)

(In thousands)

Fitness

Outdoor

Aviation

Marine

Auto OEM

Total

13-Weeks Ended June 27, 2026

Net sales

756,823

482,740

268,749

341,369

172,411

2,022,092

Gross profit

480,723

332,319

201,971

208,964

38,045

1,262,022

Operating income (loss)

277,039

163,583

72,166

99,848

2,872

615,508

13-Weeks Ended June 28, 2025

Net sales

605,425

490,357

249,366

299,262

170,154

1,814,564

Gross profit

364,670

324,429

185,472

164,338

28,103

1,067,012

Operating income (loss)

197,630

157,881

63,383

62,921

(9,520

)

472,295

26-Weeks Ended June 27, 2026

Net sales

1,303,646

900,270

532,590

696,385

342,691

3,775,582

Gross profit

819,246

610,261

399,279

406,340

69,184

2,304,310

Operating income (loss)

434,659

282,373

143,100

190,606

(3,565

)

1,047,173

26-Weeks Ended June 28, 2025

Net sales

990,147

928,853

472,481

618,699

339,483

3,349,663

Gross profit

584,813

606,964

353,374

348,271

58,135

1,951,557

Operating income (loss)

275,344

286,668

111,739

149,785

(18,417

)

805,119

Garmin Ltd. and Subsidiaries

Net Sales by Geography (Unaudited)

(In thousands)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

YoY

June 27,

June 28,

YoY

2026

2025

Change

2026

2025

Change

Net sales

2,022,092

1,814,564

11%

3,775,582

3,349,663

13%

Americas

979,390

878,014

12%

1,801,019

1,623,747

11%

EMEA

766,069

677,402

13%

1,422,914

1,246,355

14%

APAC

276,633

259,148

551,649

479,561

15%

Americas - North America & South America; EMEA - Europe, Middle East & Africa; APAC - Asia Pacific & Australian Continent

Non-GAAP Financial Information

To supplement our financial results presented in accordance with GAAP, this release includes the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: pro forma effective tax rate, pro forma net income (earnings) per share and free cash flow. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP measures used by other companies, limiting the usefulness of the measures for comparison with other companies. Management believes providing investors with an operating view consistent with how it manages the Company provides enhanced transparency into the operating results of the Company, as described in more detail by category below.

The tables below provide reconciliations between the GAAP and non-GAAP measures.

Pro forma effective tax rate

The Company’s income tax expense is occasionally impacted by discrete tax items that are not reflective of income tax expense incurred as a result of current period earnings. Therefore, management believes the effective tax rate and income tax provision before the effect of certain discrete tax items are important measures to permit investors' consistent comparison between periods. In the first half of 2026 and 2025 there were no such discrete tax items identified.

Pro forma net income (earnings) per share

Management believes net income (earnings) per share before the impact of foreign currency gains or losses and certain discrete income tax items, as discussed above, is an important measure to permit a consistent comparison of the Company’s performance between periods.

(In thousands, except per share information)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

June 27,

June 28,

2026

2025

2026

2025

GAAP net income

541,920

400,822

946,999

733,591

Foreign currency gains / losses(1)

2,492

23,512

(630

)

(1,248

)

Tax effect of foreign currency gains / losses(2)

(418

)

(3,889

)

195

Pro forma net income

543,994

420,445

946,468

732,538

GAAP net income per share:

Basic

2.81

2.08

4.91

3.81

Diluted

2.80

2.07

4.89

3.79

Pro forma net income per share:

Basic

2.82

2.18

4.91

3.80

Diluted

2.81

2.17

4.89

3.78

Weighted average common shares outstanding:

Basic

192,836

192,523

192,755

192,534

Diluted

193,471

193,416

193,515

193,557

(1) Foreign currency gains and losses for the Company are driven by movements of a number of currencies in relation to the U.S. Dollar and the related exchange rate impact on the significant cash, receivables, and payables held in a currency other than the functional currency at a given legal entity. However, there is minimal cash impact from such foreign currency gains and losses.

(2) The tax effect of foreign currency gains was calculated using the effective tax rates of 16.8% and 15.7% for the 13-weeks and 26-weeks ended June 27, 2026, respectively, and 16.5% and 15.6% for the 13-weeks and 26-weeks ended June 28, 2025, respectively.

Free cash flow

Management believes free cash flow is an important liquidity measure because it represents the amount of cash provided by operations that is available for investing and defines it as operating cash flows less capital expenditures for property and equipment. Management believes excluding purchases of property and equipment provides a better understanding of the underlying trends in the Company’s operations and allows more accurate comparisons of the Company’s results between periods. This metric may also be useful to investors but should not be considered in isolation as it is not a measure of cash flow available for discretionary expenditures. The most comparable GAAP measure is net cash provided by operating activities.

(In thousands)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

June 27,

June 28,

2026

2025

2026

2025

Net cash provided by operating activities

403,556

173,171

939,544

593,959

Less: purchases of property and equipment

(127,778

)

(45,677

)

(194,395

)

(85,738

)

Free cash flow

275,778

127,494

745,149

508,221

Forward-looking Financial Measures

The forward-looking financial measures in our 2026 guidance provided above do not consider the potential future net effect of foreign currency exchange gains and losses, certain discrete tax items and any other impacts that may be identified as pro forma adjustments in calculating the non-GAAP measures described above.

The estimated impact of foreign currency gains and losses cannot be reasonably estimated on a forward-looking basis due to the high variability and low visibility with respect to non-operating foreign currency exchange gains and losses and the related tax effects of such gains and losses. The impact on diluted net income per share of foreign currency gains and losses, net of tax effects, was $0.00 per share for the 26-week period ended June 27, 2026.

At this time, management is unable to determine whether or not significant discrete tax items will occur in fiscal 2026, estimate the impact of any such items, or anticipate the impact of any other events that may be considered in the calculation of non-GAAP financial measures.

GRAPHIC

Filename: img45548057_0.gif · Sequence: 3

Binary file (14194 bytes)

Download img45548057_0.gif

GRAPHIC

Filename: img45548057_1.gif · Sequence: 4

Binary file (1132 bytes)

Download img45548057_1.gif

GRAPHIC

Filename: img45548057_2.gif · Sequence: 5

Binary file (6003 bytes)

Download img45548057_2.gif

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.1

Document And Entity Information

Jul. 29, 2026

Statement of Financial Position [Abstract]

Document Type

8-K

Amendment Flag

false

Document Period End Date

Jul. 29, 2026

Entity Registrant Name

GARMIN LTD.

Entity Central Index Key

0001121788

Entity Emerging Growth Company

false

Entity File Number

001-41118

Entity Incorporation, State or Country Code

Entity Tax Identification Number

98-0229227

Entity Address, Address Line One

Mühlentalstrasse 36/38

Entity Address, City or Town

Schaffhausen

Entity Address, Country

Entity Address, Postal Zip Code

8200

City Area Code

+41 52

Local Phone Number

630 1600

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Registered Shares, $0.10 Per Share Par Value

Trading Symbol

GRMN

Security Exchange Name

NYSE

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

ISO 3166-1 alpha-2 country code.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCountry

Namespace Prefix:

dei_

Data Type:

dei:countryCodeItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- References

No definition available.

+ Details

Name:

us-gaap_StatementOfFinancialPositionAbstract

Namespace Prefix:

us-gaap_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration