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Garmin cash flow statement

In fiscal 2025, Garmin's operations generated $1.63bn of cash; it spent $270m on capital projects, leaving free cash flow of $1.36bn. It returned $664m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations1,0947718226856305232807066619206991,1351,0127881,3761,4321,6331,887
Depreciation and amortisation575355534848515660657278103119132140153159
Stock-based pay4440402923242641455663819377101137166175
Capital spending4932383856738191140156118185308244194194270419
Free cash flow1,0457387846465744492006155217645819507055441,1831,2391,3631,468
Free cash flow after stock pay1,0026987446175514251745734767075178696124671,0811,1021,1971,294
Dividends paid150299311253352360378481383296417451491679559572664751
Share buybacks202262219582421319375—————————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Garmin's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Garmin.