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Side-by-side financial comparison of Garmin (GRMN) and LCI INDUSTRIES (LCII). Click either name above to swap in a different company.
Garmin is the larger business by last-quarter revenue ($1.8B vs $932.7M, roughly 1.9× LCI INDUSTRIES). Garmin runs the higher net margin — 23.1% vs 2.0%, a 21.1% gap on every dollar of revenue. On growth, LCI INDUSTRIES posted the faster year-over-year revenue change (16.1% vs 14.0%). Garmin produced more free cash flow last quarter ($469.4M vs $64.3M). Over the past eight quarters, Garmin's revenue compounded faster (7.9% CAGR vs -1.8%).
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.
Lucky Core Industries Limited, formerly known as ICI Pakistan, is a Pakistani conglomerate company headquartered in Karachi. It manufactures polyester, pharmaceutical, agrochemical, soda ash, and veterinary medicine.
GRMN vs LCII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $932.7M |
| Net Profit | $405.1M | $18.7M |
| Gross Margin | 59.4% | 22.1% |
| Operating Margin | 24.6% | 3.8% |
| Net Margin | 23.1% | 2.0% |
| Revenue YoY | 14.0% | 16.1% |
| Net Profit YoY | 21.7% | 95.7% |
| EPS (diluted) | $2.09 | $0.79 |
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.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.1B | $932.7M | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $1.8B | $803.1M | ||
| Q3 24 | $1.6B | $915.5M | ||
| Q2 24 | $1.5B | $1.1B |
| Q1 26 | $405.1M | — | ||
| Q4 25 | $528.7M | $18.7M | ||
| Q3 25 | $401.6M | $62.5M | ||
| Q2 25 | $400.8M | $57.6M | ||
| Q1 25 | $332.8M | $49.4M | ||
| Q4 24 | $435.7M | $9.5M | ||
| Q3 24 | $399.1M | $35.6M | ||
| Q2 24 | $300.6M | $61.2M |
| Q1 26 | 59.4% | — | ||
| Q4 25 | 59.2% | 22.1% | ||
| Q3 25 | 59.1% | 24.4% | ||
| Q2 25 | 58.8% | 24.4% | ||
| Q1 25 | 57.6% | 24.1% | ||
| Q4 24 | 59.3% | 21.1% | ||
| Q3 24 | 60.0% | 24.0% | ||
| Q2 24 | 57.3% | 25.3% |
| Q1 26 | 24.6% | — | ||
| Q4 25 | 28.9% | 3.8% | ||
| Q3 25 | 25.8% | 7.3% | ||
| Q2 25 | 26.0% | 7.9% | ||
| Q1 25 | 21.7% | 7.8% | ||
| Q4 24 | 28.3% | 2.0% | ||
| Q3 24 | 27.6% | 5.9% | ||
| Q2 24 | 22.7% | 8.6% |
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.9% | 2.0% | ||
| Q3 25 | 22.7% | 6.0% | ||
| Q2 25 | 22.1% | 5.2% | ||
| Q1 25 | 21.7% | 4.7% | ||
| Q4 24 | 23.9% | 1.2% | ||
| Q3 24 | 25.2% | 3.9% | ||
| Q2 24 | 20.0% | 5.8% |
| Q1 26 | $2.09 | — | ||
| Q4 25 | $2.72 | $0.79 | ||
| Q3 25 | $2.08 | $2.55 | ||
| Q2 25 | $2.07 | $2.29 | ||
| Q1 25 | $1.72 | $1.94 | ||
| Q4 24 | $2.24 | $0.37 | ||
| Q3 24 | $2.07 | $1.39 | ||
| Q2 24 | $1.56 | $2.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3B | $222.6M |
| Total DebtLower is stronger | — | $945.2M |
| Stockholders' EquityBook value | — | $1.4B |
| Total Assets | $11.0B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $222.6M | ||
| Q3 25 | $2.1B | $199.7M | ||
| Q2 25 | $2.1B | $191.9M | ||
| Q1 25 | $2.2B | $231.2M | ||
| Q4 24 | $2.1B | $165.8M | ||
| Q3 24 | $2.0B | $161.2M | ||
| Q2 24 | $1.9B | $130.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $945.2M | ||
| Q3 25 | — | $947.8M | ||
| Q2 25 | — | $948.0M | ||
| Q1 25 | — | $938.3M | ||
| Q4 24 | — | $757.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | — | $829.7M |
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $1.4B | ||
| Q3 25 | $8.5B | $1.4B | ||
| Q2 25 | $8.1B | $1.4B | ||
| Q1 25 | $8.2B | $1.4B | ||
| Q4 24 | $7.8B | $1.4B | ||
| Q3 24 | $7.5B | $1.4B | ||
| Q2 24 | $7.0B | $1.4B |
| Q1 26 | $11.0B | — | ||
| Q4 25 | $11.0B | $3.2B | ||
| Q3 25 | $10.5B | $3.2B | ||
| Q2 25 | $10.3B | $3.2B | ||
| Q1 25 | $9.8B | $3.1B | ||
| Q4 24 | $9.6B | $2.9B | ||
| Q3 24 | $9.3B | $3.0B | ||
| Q2 24 | $8.9B | $3.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.60× |
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 | $536.0M | $78.9M |
| Free Cash FlowOCF − Capex | $469.4M | $64.3M |
| FCF MarginFCF / Revenue | 26.8% | 6.9% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 1.32× | 4.22× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $278.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $536.0M | — | ||
| Q4 25 | $553.8M | $78.9M | ||
| Q3 25 | $485.6M | $97.2M | ||
| Q2 25 | $173.2M | $112.2M | ||
| Q1 25 | $420.8M | $42.7M | ||
| Q4 24 | $483.9M | $106.6M | ||
| Q3 24 | $258.0M | $78.4M | ||
| Q2 24 | $255.3M | $192.9M |
| Q1 26 | $469.4M | — | ||
| Q4 25 | $429.6M | $64.3M | ||
| Q3 25 | $425.1M | $80.9M | ||
| Q2 25 | $127.5M | $99.5M | ||
| Q1 25 | $380.7M | $33.7M | ||
| Q4 24 | $399.2M | $95.7M | ||
| Q3 24 | $219.4M | $68.3M | ||
| Q2 24 | $218.2M | $180.2M |
| Q1 26 | 26.8% | — | ||
| Q4 25 | 20.2% | 6.9% | ||
| Q3 25 | 24.0% | 7.8% | ||
| Q2 25 | 7.0% | 9.0% | ||
| Q1 25 | 24.8% | 3.2% | ||
| Q4 24 | 21.9% | 11.9% | ||
| Q3 24 | 13.8% | 7.5% | ||
| Q2 24 | 14.5% | 17.1% |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 1.6% | ||
| Q3 25 | 3.4% | 1.6% | ||
| Q2 25 | 2.5% | 1.2% | ||
| Q1 25 | 2.6% | 0.9% | ||
| Q4 24 | 4.6% | 1.4% | ||
| Q3 24 | 2.4% | 1.1% | ||
| Q2 24 | 2.5% | 1.2% |
| Q1 26 | 1.32× | — | ||
| Q4 25 | 1.05× | 4.22× | ||
| Q3 25 | 1.21× | 1.55× | ||
| Q2 25 | 0.43× | 1.95× | ||
| Q1 25 | 1.26× | 0.86× | ||
| Q4 24 | 1.11× | 11.17× | ||
| Q3 24 | 0.65× | 2.20× | ||
| Q2 24 | 0.85× | 3.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRMN
Segment breakdown not available.
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
