Garmin Ltd. stock research
FY2026 Q1
Garmin (GRMN) Gross Margin & Quarterly History
Explore Garmin Ltd. (GRMN) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 28, 2026 · FY2026 Q1
Gross profit increased alongside revenue while cost of revenue was lower relative to revenue, resulting in a gross margin that improved compared to the prior year quarter. Compared to the preceding quarter, revenue and gross profit both decreased, yet gross margin remained relatively stable.
- The margin between revenue and cost of revenue widened compared to the same quarter a year earlier, as gross profit grew faster than cost of revenue. This contributed to a higher gross margin.
- Gross margin for the current quarter was higher than the same quarter one year earlier, but marginally higher compared to the immediately preceding quarter. Revenue and gross profit were both lower than the prior quarter.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
59.4%
Gross profit
$1.0B
Revenue
$1.8B
Cost of revenue
$711.2M
Quarter-over-quarter change
+0.2 pts
Year-over-year change
+1.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 28, 2025 | $1.8B | $1.1B | $747.6M | 58.8% |
| Sep 27, 2025 | $1.8B | $1.0B | $724.4M | 59.1% |
| Dec 27, 2025 | $2.1B | $1.3B | $866.7M | 59.2% |
| Mar 28, 2026 | $1.8B | $1.0B | $711.2M | 59.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 27, 2025
+0.2 pts
Year-over-year change
Mar 29, 2025
+1.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The margin between revenue and cost of revenue widened compared to the same quarter a year earlier, as gross profit grew faster than cost of revenue. This contributed to a higher gross margin.
Gross margin for the current quarter was higher than the same quarter one year earlier, but marginally higher compared to the immediately preceding quarter. Revenue and gross profit were both lower than the prior quarter.
Monitor the relationship between cost of revenue and revenue in upcoming quarters for signs of change in gross margin stability.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Garmin Ltd. (GRMN) | 59.4% |