Company / Income Tax
Garmin Income Tax History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Income Tax
$350.6M
FY2025
5-year range
-$89.3M / $350.6M
FY2021-FY2025
Trend
+23.5%
vs FY2024
Sector context
#32 of 222
Consumer Discretionary
What the data says
Garmin's income tax of $351M is higher than 86% of companies in the Consumer Discretionary sector (FY2025). Income Tax has fluctuated over the past 10 years, ranging from -$89M in FY2023 to $351M in FY2025.
Based on SEC 10-K filings.
$351M in FY2025 with a 5-year CAGR of +25.8%. Top quartile in the Consumer Discretionary sector.
Increased from -$89M to $351M over the past 2 years.
Consumer Discretionary sector context is included.
Income Tax over time
Growth rates
- 3-Year CAGR
- +56.6%
- 5-Year CAGR
- +25.8%
- 10-Year CAGR
- -
Sector benchmark
+44.2% above sector average
Key checks
Key Insights
- 5-year CAGR of +25.8%, indicating consistent growth.
- In FY2025, income tax increased 23.5% year-over-year.
- Ranks #32 out of 222 companies in the Consumer Discretionary sector.
- Lowest income tax in the period was in FY2023.
Company context
Key Data Points
- Altman Z-Score 3.88 (safe zone, above 2.9 threshold)
- Strong profit margin: 22.6%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Income TaxValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $350.6M | +23.5% |
| FY2024 | $284.0M | +418.1% |
| FY2023 | -$89.3M | -197.7% |
| FY2022 | $91.4M | -26.7% |
| FY2021 | $124.6M | +12.2% |
| FY2020 | $111.1M | +219.8% |
| FY2019 | $34.7M | -73.1% |
| FY2018 | $129.2M | +1182.2% |
| FY2017 | -$11.9M | -109.9% |
| FY2016 | $120.9M | +9.0% |
As of FY2025 · SEC 10-K · Updated Mar 8, 2026