Garmin announced on Wednesday that strong performance in 2025 was driven largely by fitness products like its wearables and contributed to a record fourth quarter and full-year revenue.
In it’s latest earnings report, the company revealed that fourth quarter revenue soared to $2.12 billion, a 17 percent jump over the previous year. Garmin saw sustained growth across its diversified business areas even as industry-related challenges like components costs and the impact of tariffs persist.
“2025 was another year of remarkable growth and achievement for Garmin with record consolidated revenue, record revenue in all five of our segments, and record consolidated operating income,” Cliff Pemble, Garmin president and chief executive said in the report. “We attribute this strong performance to our strategic focus on market diversification and creating superior products that are essential to our customers’ lives. Looking forward, we anticipate building on this momentum with many exciting new product launches throughout the year. I am very proud of what we accomplished in 2025 and look forward to seizing the opportunities ahead.”
For the year, Garmin’s revenue reached a record $7.25 billion on an all-time high operating income of $1.88 billion while each of its business segments — fitness, outdoor, aviation, marine and automotive — all posted new annual highs.
The company said it shipped over 20 million devices in 2025, with fitness driving continuing growth as wearables like the fenix 8 Pro series, Instinct 3 and Forerunner 970/570 duo all saw well-received releases last year.
Staying ahead of competitors was key for Garmin in 2025, with the technology giant recalling in the report that it won five 2026 CES Innovation Awards in fashion tech, digital health, sports and fitness and pet and animal categories.
Fitness saw a 42 percent jump at $765.8 million in sales as feature-rich watches resonate with fitness minded customers while the company’s outdoor segment was largely flat year over year at $627.6 million. But marine products pushed its way to $296.9 million in revenue as it rose 18 percent as aviation was up 16 percent at 274.2 million. Meanwhile the company said it’s automotive OEM area dipped 3 percent as some legacy programs move through planned end of operations.
Garmin also revealed that is proposing a 17 percent dividend increase at $4.20 per share that will be payable in four equal installments in 2026 through 2027. The company will also initiate a $500 million share repurchase program that begins on Friday through December 2028 and will replace a $300 million repurchase plan that its board approved in February 2024. The company also gave an update on a new manufacturing facility in Thailand that is expected to be functional in early 2027
News of Garmin’s strong fourth quarter and full-year revenue pushed shares up by as much as 17 percent on Wednesday as the company also predicted that it will expect an increase in 2026 revenue at $7.9 billion, which is a 9 percent rise over 2025.
