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Garmin vs Teledyne Technologies: revenue, profit, margins and growth compared

Garmin brought in $7.2B of revenue in fiscal 2025, Teledyne Technologies $6.1B in fiscal 2025. Revenue changed by +15.1% at Garmin and +7.9% at Teledyne Technologies on the year before, so Garmin grew faster. Garmin kept 23.0% of its revenue as net profit, Teledyne Technologies 14.6%. Free cash flow was $1.4B at Garmin and $1.1B at Teledyne Technologies.

Side by side, latest fiscal year

GRMNTDY
Fiscal year endedFY2025 (December 27, 2025)FY2025 (December 28, 2025)
Revenue$7.2B$6.1B
Revenue growth+15.1%+7.9%
Net income$1.7B$894.8M
Net margin23.0%14.6%
Free cash flow$1.4B$1.1B
Free cash flow margin18.8%17.6%
Earnings per share (diluted)$8.59$18.88
Cash$2.3B$352.4M
Debtn/a$2.5B
Price to earnings34.232.5
Market value$56.7B$28.5B
Dividend yieldn/an/a
Rank by revenue in sector#93 of 451 · Industrials#105 of 451 · Industrials

Over the years

Revenue
GRMN FY2018: $3.3BGRMN FY2019: $3.8BGRMN FY2020: $4.2BGRMN FY2021: $5BGRMN FY2022: $4.9BGRMN FY2023: $5.2BGRMN FY2024: $6.3BGRMN FY2025: $7.2BTDY FY2018: $2.9BTDY FY2019: $3.2BTDY FY2020: $3.1BTDY FY2021: $4.6BTDY FY2022: $5.5BTDY FY2023: $5.6BTDY FY2024: $5.7BTDY FY2025: $6.1BFY18FY19FY20FY21FY22FY23FY24FY25
GRMN $7.2BTDY $6.1B
Net income
GRMN FY2018: $694.1MGRMN FY2019: $952.5MGRMN FY2020: $992.3MGRMN FY2021: $1.1BGRMN FY2022: $973.6MGRMN FY2023: $1.3BGRMN FY2024: $1.4BGRMN FY2025: $1.7BTDY FY2018: $333.8MTDY FY2019: $402.3MTDY FY2020: $401.9MTDY FY2021: $445.3MTDY FY2022: $788.6MTDY FY2023: $885.7MTDY FY2024: $819.2MTDY FY2025: $894.8MFY18FY19FY20FY21FY22FY23FY24FY25
GRMN $1.7BTDY $894.8M
Net margin
GRMN FY2018: 20.7%GRMN FY2019: 25.3%GRMN FY2020: 23.7%GRMN FY2021: 21.7%GRMN FY2022: 20.0%GRMN FY2023: 24.7%GRMN FY2024: 22.4%GRMN FY2025: 23.0%TDY FY2018: 11.5%TDY FY2019: 12.7%TDY FY2020: 13.0%TDY FY2021: 9.7%TDY FY2022: 14.4%TDY FY2023: 15.7%TDY FY2024: 14.4%TDY FY2025: 14.6%FY18FY19FY20FY21FY22FY23FY24FY25
GRMN 23.0%TDY 14.6%
Revenue growth
GRMN FY2019: +12.2%GRMN FY2020: +11.4%GRMN FY2021: +19.0%GRMN FY2022: -2.5%GRMN FY2023: +7.6%GRMN FY2024: +20.4%GRMN FY2025: +15.1%TDY FY2019: +9.0%TDY FY2020: -2.4%TDY FY2021: +49.5%TDY FY2022: +18.3%TDY FY2023: +3.2%TDY FY2024: +0.6%TDY FY2025: +7.9%FY19FY20FY21FY22FY23FY24FY25
GRMN +15.1%TDY +7.9%
Free cash flow
GRMN FY2018: $763.8MGRMN FY2019: $580.5MGRMN FY2020: $949.9MGRMN FY2021: $704.8MGRMN FY2022: $544MGRMN FY2023: $1.2BGRMN FY2024: $1.2BGRMN FY2025: $1.4BTDY FY2018: $360.1MTDY FY2019: $393.7MTDY FY2020: $547.5MTDY FY2021: $723MTDY FY2022: $394.2MTDY FY2023: $721.2MTDY FY2024: $1.1BTDY FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
GRMN $1.4BTDY $1.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Garmin and Teledyne Technologies

Which is bigger by revenue, Garmin or Teledyne Technologies?

Garmin is bigger by revenue: $7.2B in fiscal 2025, against $6.1B for Teledyne Technologies in fiscal 2025.

Which keeps more of its revenue as profit, Garmin or Teledyne Technologies?

Garmin had a net margin of 23.0% in fiscal 2025; Teledyne Technologies had 14.6% in fiscal 2025.

Which grew revenue faster, Garmin or Teledyne Technologies?

In their latest fiscal years revenue changed by +15.1% at Garmin and +7.9% at Teledyne Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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