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Side-by-side financial comparison of Garmin (GRMN) and Organon & Co. (OGN). Click either name above to swap in a different company.
Garmin is the larger business by last-quarter revenue ($2.1B vs $1.5B, roughly 1.4× Organon & Co.). Garmin runs the higher net margin — 24.9% vs -13.6%, a 38.5% gap on every dollar of revenue. On growth, Garmin posted the faster year-over-year revenue change (16.6% vs -5.3%). Garmin produced more free cash flow last quarter ($429.6M vs $96.0M). Over the past eight quarters, Garmin's revenue compounded faster (24.0% CAGR vs -3.6%).
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.
Organon & Co. is an American pharmaceutical company headquartered in Jersey City, New Jersey. Organon specializes in the following core therapeutic fields: reproductive medicine, contraception, psychiatry, hormone replacement therapy (HRT), and anesthesia. Organon produces all its products outside of the United States but receives a third of its revenue from the United States.
GRMN vs OGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.5B |
| Net Profit | $528.7M | $-205.0M |
| Gross Margin | 59.2% | 49.2% |
| Operating Margin | 28.9% | -9.8% |
| Net Margin | 24.9% | -13.6% |
| Revenue YoY | 16.6% | -5.3% |
| Net Profit YoY | 21.3% | -288.1% |
| EPS (diluted) | $2.72 | $-0.78 |
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 | $2.1B | $1.5B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.4B | $1.6B |
| Q4 25 | $528.7M | $-205.0M | ||
| Q3 25 | $401.6M | $160.0M | ||
| Q2 25 | $400.8M | $145.0M | ||
| Q1 25 | $332.8M | $87.0M | ||
| Q4 24 | $435.7M | $109.0M | ||
| Q3 24 | $399.1M | $359.0M | ||
| Q2 24 | $300.6M | $195.0M | ||
| Q1 24 | $276.0M | $201.0M |
| Q4 25 | 59.2% | 49.2% | ||
| Q3 25 | 59.1% | 53.5% | ||
| Q2 25 | 58.8% | 54.8% | ||
| Q1 25 | 57.6% | 55.6% | ||
| Q4 24 | 59.3% | 56.3% | ||
| Q3 24 | 60.0% | 58.3% | ||
| Q2 24 | 57.3% | 58.4% | ||
| Q1 24 | 58.1% | 59.0% |
| Q4 25 | 28.9% | -9.8% | ||
| Q3 25 | 25.8% | 15.2% | ||
| Q2 25 | 26.0% | 14.4% | ||
| Q1 25 | 21.7% | 6.7% | ||
| Q4 24 | 28.3% | 8.1% | ||
| Q3 24 | 27.6% | 13.1% | ||
| Q2 24 | 22.7% | 14.6% | ||
| Q1 24 | 21.6% | 14.5% |
| Q4 25 | 24.9% | -13.6% | ||
| Q3 25 | 22.7% | 10.0% | ||
| Q2 25 | 22.1% | 9.1% | ||
| Q1 25 | 21.7% | 5.8% | ||
| Q4 24 | 23.9% | 6.8% | ||
| Q3 24 | 25.2% | 22.7% | ||
| Q2 24 | 20.0% | 12.1% | ||
| Q1 24 | 20.0% | 12.4% |
| Q4 25 | $2.72 | $-0.78 | ||
| Q3 25 | $2.08 | $0.61 | ||
| Q2 25 | $2.07 | $0.56 | ||
| Q1 25 | $1.72 | $0.33 | ||
| Q4 24 | $2.24 | $0.42 | ||
| Q3 24 | $2.07 | $1.38 | ||
| Q2 24 | $1.56 | $0.75 | ||
| Q1 24 | $1.43 | $0.78 |
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 | $574.0M |
| Total DebtLower is stronger | — | $8.6B |
| Stockholders' EquityBook value | $9.0B | $752.0M |
| Total Assets | $11.0B | $12.9B |
| Debt / EquityLower = less leverage | — | 11.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $574.0M | ||
| Q3 25 | $2.1B | $672.0M | ||
| Q2 25 | $2.1B | $599.0M | ||
| Q1 25 | $2.2B | $547.0M | ||
| Q4 24 | $2.1B | $675.0M | ||
| Q3 24 | $2.0B | $763.0M | ||
| Q2 24 | $1.9B | $704.0M | ||
| Q1 24 | $1.9B | $575.0M |
| Q4 25 | — | $8.6B | ||
| Q3 25 | — | $8.8B | ||
| Q2 25 | — | $8.9B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | $8.7B | ||
| Q2 24 | — | $8.7B | ||
| Q1 24 | — | $8.7B |
| Q4 25 | $9.0B | $752.0M | ||
| Q3 25 | $8.5B | $906.0M | ||
| Q2 25 | $8.1B | $733.0M | ||
| Q1 25 | $8.2B | $542.0M | ||
| Q4 24 | $7.8B | $472.0M | ||
| Q3 24 | $7.5B | $493.0M | ||
| Q2 24 | $7.0B | $144.0M | ||
| Q1 24 | $7.2B | $48.0M |
| Q4 25 | $11.0B | $12.9B | ||
| Q3 25 | $10.5B | $13.6B | ||
| Q2 25 | $10.3B | $13.5B | ||
| Q1 25 | $9.8B | $13.2B | ||
| Q4 24 | $9.6B | $13.1B | ||
| Q3 24 | $9.3B | $12.8B | ||
| Q2 24 | $8.9B | $12.2B | ||
| Q1 24 | $8.6B | $11.9B |
| Q4 25 | — | 11.49× | ||
| Q3 25 | — | 9.74× | ||
| Q2 25 | — | 12.14× | ||
| Q1 25 | — | 16.52× | ||
| Q4 24 | — | 18.81× | ||
| Q3 24 | — | 17.75× | ||
| Q2 24 | — | 60.11× | ||
| Q1 24 | — | 181.54× |
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 | $553.8M | $141.0M |
| Free Cash FlowOCF − Capex | $429.6M | $96.0M |
| FCF MarginFCF / Revenue | 20.2% | 6.4% |
| Capex IntensityCapex / Revenue | 5.8% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $538.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $553.8M | $141.0M | ||
| Q3 25 | $485.6M | $264.0M | ||
| Q2 25 | $173.2M | $220.0M | ||
| Q1 25 | $420.8M | $75.0M | ||
| Q4 24 | $483.9M | $390.0M | ||
| Q3 24 | $258.0M | $141.0M | ||
| Q2 24 | $255.3M | $332.0M | ||
| Q1 24 | $435.3M | $76.0M |
| Q4 25 | $429.6M | $96.0M | ||
| Q3 25 | $425.1M | $218.0M | ||
| Q2 25 | $127.5M | $181.0M | ||
| Q1 25 | $380.7M | $43.0M | ||
| Q4 24 | $399.2M | $335.0M | ||
| Q3 24 | $219.4M | $99.0M | ||
| Q2 24 | $218.2M | $300.0M | ||
| Q1 24 | $402.1M | $30.0M |
| Q4 25 | 20.2% | 6.4% | ||
| Q3 25 | 24.0% | 13.6% | ||
| Q2 25 | 7.0% | 11.4% | ||
| Q1 25 | 24.8% | 2.8% | ||
| Q4 24 | 21.9% | 21.0% | ||
| Q3 24 | 13.8% | 6.3% | ||
| Q2 24 | 14.5% | 18.7% | ||
| Q1 24 | 29.1% | 1.8% |
| Q4 25 | 5.8% | 3.0% | ||
| Q3 25 | 3.4% | 2.9% | ||
| Q2 25 | 2.5% | 2.4% | ||
| Q1 25 | 2.6% | 2.1% | ||
| Q4 24 | 4.6% | 3.5% | ||
| Q3 24 | 2.4% | 2.7% | ||
| Q2 24 | 2.5% | 2.0% | ||
| Q1 24 | 2.4% | 2.8% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.21× | 1.65× | ||
| Q2 25 | 0.43× | 1.52× | ||
| Q1 25 | 1.26× | 0.86× | ||
| Q4 24 | 1.11× | 3.58× | ||
| Q3 24 | 0.65× | 0.39× | ||
| Q2 24 | 0.85× | 1.70× | ||
| Q1 24 | 1.58× | 0.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
OGN
Segment breakdown not available.
