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Side-by-side financial comparison of Aptiv (APTV) and Garmin (GRMN). Click either name above to swap in a different company.
Aptiv is the larger business by last-quarter revenue ($5.2B vs $2.1B, roughly 2.4× Garmin). Garmin runs the higher net margin — 24.9% vs 2.7%, a 22.2% gap on every dollar of revenue. On growth, Garmin posted the faster year-over-year revenue change (16.6% vs 5.0%). Aptiv produced more free cash flow last quarter ($651.0M vs $429.6M). Over the past eight quarters, Garmin's revenue compounded faster (24.0% CAGR vs 2.5%).
Aptiv PLC is an American automotive technology supplier with headquarters in Schaffhausen, Switzerland. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.
Garmin Ltd. is an American multinational technology company based in Olathe, Kansas. The company designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communication, sensor-based, and information products to the automotive, aviation, marine, outdoors, and sport markets.
APTV vs GRMN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $5.2B | $2.1B |
| Net Profit | $138.0M | $528.7M |
| Gross Margin | 18.7% | 59.2% |
| Operating Margin | 8.2% | 28.9% |
| Net Margin | 2.7% | 24.9% |
| Revenue YoY | 5.0% | 16.6% |
| Net Profit YoY | -48.5% | 21.3% |
| EPS (diluted) | $0.63 | $2.72 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.2B | $2.1B | ||
| Q3 25 | $5.2B | $1.8B | ||
| Q2 25 | $5.2B | $1.8B | ||
| Q1 25 | $4.8B | $1.5B | ||
| Q4 24 | $4.9B | $1.8B | ||
| Q3 24 | $4.9B | $1.6B | ||
| Q2 24 | $5.1B | $1.5B | ||
| Q1 24 | $4.9B | $1.4B |
| Q4 25 | $138.0M | $528.7M | ||
| Q3 25 | $-355.0M | $401.6M | ||
| Q2 25 | $393.0M | $400.8M | ||
| Q1 25 | $-11.0M | $332.8M | ||
| Q4 24 | $268.0M | $435.7M | ||
| Q3 24 | $363.0M | $399.1M | ||
| Q2 24 | $938.0M | $300.6M | ||
| Q1 24 | $218.0M | $276.0M |
| Q4 25 | 18.7% | 59.2% | ||
| Q3 25 | 19.5% | 59.1% | ||
| Q2 25 | 19.1% | 58.8% | ||
| Q1 25 | 19.1% | 57.6% | ||
| Q4 24 | 19.6% | 59.3% | ||
| Q3 24 | 18.6% | 60.0% | ||
| Q2 24 | 19.2% | 57.3% | ||
| Q1 24 | 17.9% | 58.1% |
| Q4 25 | 8.2% | 28.9% | ||
| Q3 25 | -3.4% | 25.8% | ||
| Q2 25 | 9.3% | 26.0% | ||
| Q1 25 | 9.3% | 21.7% | ||
| Q4 24 | 9.8% | 28.3% | ||
| Q3 24 | 10.4% | 27.6% | ||
| Q2 24 | 8.7% | 22.7% | ||
| Q1 24 | 8.5% | 21.6% |
| Q4 25 | 2.7% | 24.9% | ||
| Q3 25 | -6.8% | 22.7% | ||
| Q2 25 | 7.5% | 22.1% | ||
| Q1 25 | -0.2% | 21.7% | ||
| Q4 24 | 5.5% | 23.9% | ||
| Q3 24 | 7.5% | 25.2% | ||
| Q2 24 | 18.6% | 20.0% | ||
| Q1 24 | 4.4% | 20.0% |
| Q4 25 | $0.63 | $2.72 | ||
| Q3 25 | $-1.63 | $2.08 | ||
| Q2 25 | $1.80 | $2.07 | ||
| Q1 25 | $-0.05 | $1.72 | ||
| Q4 24 | $1.22 | $2.24 | ||
| Q3 24 | $1.48 | $2.07 | ||
| Q2 24 | $3.47 | $1.56 | ||
| Q1 24 | $0.79 | $1.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $2.3B |
| Total DebtLower is stronger | $7.5B | — |
| Stockholders' EquityBook value | $9.2B | $9.0B |
| Total Assets | $23.4B | $11.0B |
| Debt / EquityLower = less leverage | 0.81× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $2.3B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $1.1B | $2.2B | ||
| Q4 24 | $1.6B | $2.1B | ||
| Q3 24 | $1.8B | $2.0B | ||
| Q2 24 | $2.2B | $1.9B | ||
| Q1 24 | $941.0M | $1.9B |
| Q4 25 | $7.5B | — | ||
| Q3 25 | $7.6B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.8B | — | ||
| Q3 24 | $8.3B | — | ||
| Q2 24 | $5.5B | — | ||
| Q1 24 | $4.7B | — |
| Q4 25 | $9.2B | $9.0B | ||
| Q3 25 | $9.3B | $8.5B | ||
| Q2 25 | $9.7B | $8.1B | ||
| Q1 25 | $9.0B | $8.2B | ||
| Q4 24 | $8.8B | $7.8B | ||
| Q3 24 | $8.9B | $7.5B | ||
| Q2 24 | $11.5B | $7.0B | ||
| Q1 24 | $11.1B | $7.2B |
| Q4 25 | $23.4B | $11.0B | ||
| Q3 25 | $23.5B | $10.5B | ||
| Q2 25 | $23.9B | $10.3B | ||
| Q1 25 | $23.1B | $9.8B | ||
| Q4 24 | $23.5B | $9.6B | ||
| Q3 24 | $24.8B | $9.3B | ||
| Q2 24 | $24.8B | $8.9B | ||
| Q1 24 | $23.6B | $8.6B |
| Q4 25 | 0.81× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | 0.48× | — | ||
| Q1 24 | 0.42× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $818.0M | $553.8M |
| Free Cash FlowOCF − Capex | $651.0M | $429.6M |
| FCF MarginFCF / Revenue | 12.6% | 20.2% |
| Capex IntensityCapex / Revenue | 3.2% | 5.8% |
| Cash ConversionOCF / Net Profit | 5.93× | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $818.0M | $553.8M | ||
| Q3 25 | $584.0M | $485.6M | ||
| Q2 25 | $510.0M | $173.2M | ||
| Q1 25 | $273.0M | $420.8M | ||
| Q4 24 | $1.1B | $483.9M | ||
| Q3 24 | $499.0M | $258.0M | ||
| Q2 24 | $643.0M | $255.3M | ||
| Q1 24 | $244.0M | $435.3M |
| Q4 25 | $651.0M | $429.6M | ||
| Q3 25 | $441.0M | $425.1M | ||
| Q2 25 | $361.0M | $127.5M | ||
| Q1 25 | $76.0M | $380.7M | ||
| Q4 24 | $894.0M | $399.2M | ||
| Q3 24 | $326.0M | $219.4M | ||
| Q2 24 | $417.0M | $218.2M | ||
| Q1 24 | $-21.0M | $402.1M |
| Q4 25 | 12.6% | 20.2% | ||
| Q3 25 | 8.5% | 24.0% | ||
| Q2 25 | 6.9% | 7.0% | ||
| Q1 25 | 1.6% | 24.8% | ||
| Q4 24 | 18.2% | 21.9% | ||
| Q3 24 | 6.7% | 13.8% | ||
| Q2 24 | 8.3% | 14.5% | ||
| Q1 24 | -0.4% | 29.1% |
| Q4 25 | 3.2% | 5.8% | ||
| Q3 25 | 2.7% | 3.4% | ||
| Q2 25 | 2.9% | 2.5% | ||
| Q1 25 | 4.1% | 2.6% | ||
| Q4 24 | 3.4% | 4.6% | ||
| Q3 24 | 3.6% | 2.4% | ||
| Q2 24 | 4.5% | 2.5% | ||
| Q1 24 | 5.4% | 2.4% |
| Q4 25 | 5.93× | 1.05× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | 1.30× | 0.43× | ||
| Q1 25 | — | 1.26× | ||
| Q4 24 | 3.96× | 1.11× | ||
| Q3 24 | 1.37× | 0.65× | ||
| Q2 24 | 0.69× | 0.85× | ||
| Q1 24 | 1.12× | 1.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APTV
| Electrical Distribution Systems | $2.3B | 45% |
| Engineered Components Group | $1.4B | 28% |
| Active Safety | $716.0M | 14% |
| User Experience And Other | $564.0M | 11% |
| Smart Vehicle Compute And Software | $154.0M | 3% |
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
