Garmin vs Sonos
Garmin reported revenue of $7.2 billion in fiscal 2025, 5.0 times Sonos' $1.4 billion in fiscal 2025. Garmin's revenue grew 15.1% in its latest year, and Sonos' fell 4.9%. Garmin had an operating margin of 25.9%, against -3.5% at Sonos. Free cash flow was $1.4 billion at Garmin and $108 million at Sonos. Their fiscal years end in different months (December 27 and September 27), so the periods don't line up exactly.
Side by side
| Garmin | Sonos | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 27, 2025 | FY2025, Sep 27, 2025 |
| Revenue | $7.2B | $1.4B |
| Revenue growth | 15.1% | −4.9% |
| Revenue growth a year, last 5 years | 11.6% | 1.7% |
| Gross margin | 58.7% | 43.7% |
| Operating margin | 25.9% | −3.5% |
| Net margin | 23.0% | −4.2% |
| Free cash flow | $1.4B | $108M |
| Free cash flow margin | 18.8% | 7.5% |
| Return on capital | 26.8% | −23.8% |
| Net debt to EBITDA | −1.3x | −19.2x |
| Dividends and buybacks | $664M | $81M |
| Change in diluted share count | 0.2% | −2.0% |
| Last close | $292.92 | $17.59 |
| P/E at the last close | 32.7× | 40.0× |
| Insider trades, last 12 months | sold $19.9 million | bought $47.9 million, sold $1.9 million |
| Piotroski F-score | 6 of 9 | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
GarminSonos
Operating margin
Percent of revenue
GarminSonos
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
GarminSonos