Garmin(NYSE) GRMN

Garmin Ltd. makes tools that help people find their way. These devices show exact locations on land, water, and air. Athletes and pilots use them to reach their goals safely.

Watches, Wings, and Waypoints

• Fitness: Running watches and cycling computers for athletes; represented 37% of net sales in the 13-week period ended June 27, 2026.
• Outdoor: Rugged watches and handheld GPS devices for hikers and golfers; accounted for 24% of net sales in the 13-week period ended June 27, 2026.
• Marine: Sonar technology and chartplotters for boaters and sailing enthusiasts; made up 17% of net sales in the 13-week period ended June 27, 2026.
• Aviation: Flight displays and navigation tools for pilots and aircraft builders; comprised 13% of net sales in the 13-week period ended June 27, 2026.
• Auto OEM: In-car computing systems and cameras sold to vehicle manufacturers; accounted for 9% of net sales in the 13-week period ended June 27, 2026.

Recent Strategic Milestones

• Increased total unit sales by 9% to 5,686 in the 13-week period ended June 27, 2026.
• Expanded the auto OEM segment through growth in domain controllers during the first half of 2026.
• Recovered $21 million in previously paid tariffs during the second quarter of 2026, which benefited the marine segment.
• Recognized year-to-date cost recoveries as revenue in the second quarter of 2026 to improve automotive gross margins.

What Makes Garmin Stand Out?

Garmin uses a vertically integrated business model to manage design and manufacturing internally. This structure helps the company remain flexible when facing global supply chain challenges or changing trade policies.

The Numbers Behind the Tech

• Net sales were $2.02 billion in the 13-week period ended June 27, 2026, up 11% year over year.
• Operating income reached $615.5 million in the second quarter of 2026, up 30% year over year.
• The company held $4.4 billion in cash, cash equivalents, and marketable securities as of June 27, 2026.
• Consolidated gross margin reached 62% in the second quarter of 2026, up 360 basis points year over year.
• Cash provided by operating activities totaled $939.5 million for the 26-week period ended June 27, 2026.

Bottom Line

Garmin has transitioned from a focus on personal navigation to a diversified provider of specialized sensors and aviation systems. Its ability to serve multiple professional and recreational markets has supported its expansion beyond traditional consumer electronics.