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Side-by-side financial comparison of Garmin (GRMN) and BeOne Medicines Ltd. (ONC). 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× BeOne Medicines Ltd.). Garmin runs the higher net margin — 24.9% vs 4.4%, a 20.4% gap on every dollar of revenue. On growth, BeOne Medicines Ltd. posted the faster year-over-year revenue change (32.8% vs 16.6%). Garmin produced more free cash flow last quarter ($429.6M vs $379.8M). Over the past eight quarters, BeOne Medicines Ltd.'s revenue compounded faster (41.2% CAGR vs 24.0%).
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.
BeOne Medicines Ltd.ONCEarnings & Financial Report
BeOne Medicines, formerly known as BeiGene, Ltd. is a multinational oncology company. It specializes in the development of drugs for cancer treatment.
GRMN vs ONC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.5B |
| Net Profit | $528.7M | $66.5M |
| Gross Margin | 59.2% | 90.5% |
| Operating Margin | 28.9% | 12.4% |
| Net Margin | 24.9% | 4.4% |
| Revenue YoY | 16.6% | 32.8% |
| Net Profit YoY | 21.3% | 143.8% |
| EPS (diluted) | $2.72 | $0.05 |
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 | $1.4B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.5B | $929.2M | ||
| Q1 24 | $1.4B | $751.7M |
| Q4 25 | $528.7M | $66.5M | ||
| Q3 25 | $401.6M | $124.8M | ||
| Q2 25 | $400.8M | $94.3M | ||
| Q1 25 | $332.8M | $1.3M | ||
| Q4 24 | $435.7M | $-151.9M | ||
| Q3 24 | $399.1M | $-121.3M | ||
| Q2 24 | $300.6M | $-120.4M | ||
| Q1 24 | $276.0M | $-251.2M |
| Q4 25 | 59.2% | 90.5% | ||
| Q3 25 | 59.1% | 86.1% | ||
| Q2 25 | 58.8% | 87.5% | ||
| Q1 25 | 57.6% | 85.2% | ||
| Q4 24 | 59.3% | 85.8% | ||
| Q3 24 | 60.0% | 83.0% | ||
| Q2 24 | 57.3% | 85.1% | ||
| Q1 24 | 58.1% | 83.4% |
| Q4 25 | 28.9% | 12.4% | ||
| Q3 25 | 25.8% | 11.5% | ||
| Q2 25 | 26.0% | 6.7% | ||
| Q1 25 | 21.7% | 1.0% | ||
| Q4 24 | 28.3% | -7.0% | ||
| Q3 24 | 27.6% | -12.0% | ||
| Q2 24 | 22.7% | -11.5% | ||
| Q1 24 | 21.6% | -34.8% |
| Q4 25 | 24.9% | 4.4% | ||
| Q3 25 | 22.7% | 8.8% | ||
| Q2 25 | 22.1% | 7.2% | ||
| Q1 25 | 21.7% | 0.1% | ||
| Q4 24 | 23.9% | -13.5% | ||
| Q3 24 | 25.2% | -12.1% | ||
| Q2 24 | 20.0% | -13.0% | ||
| Q1 24 | 20.0% | -33.4% |
| Q4 25 | $2.72 | $0.05 | ||
| Q3 25 | $2.08 | $0.08 | ||
| Q2 25 | $2.07 | $0.06 | ||
| Q1 25 | $1.72 | $0.00 | ||
| Q4 24 | $2.24 | $-0.10 | ||
| Q3 24 | $2.07 | $-0.09 | ||
| Q2 24 | $1.56 | $-0.09 | ||
| Q1 24 | $1.43 | $-0.19 |
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 | $4.5B |
| Total DebtLower is stronger | — | $836.4M |
| Stockholders' EquityBook value | $9.0B | $4.4B |
| Total Assets | $11.0B | $8.2B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $4.5B | ||
| Q3 25 | $2.1B | $4.0B | ||
| Q2 25 | $2.1B | $2.8B | ||
| Q1 25 | $2.2B | $2.5B | ||
| Q4 24 | $2.1B | $2.6B | ||
| Q3 24 | $2.0B | $2.7B | ||
| Q2 24 | $1.9B | $2.6B | ||
| Q1 24 | $1.9B | $2.8B |
| Q4 25 | — | $836.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $9.0B | $4.4B | ||
| Q3 25 | $8.5B | $4.1B | ||
| Q2 25 | $8.1B | $3.8B | ||
| Q1 25 | $8.2B | $3.5B | ||
| Q4 24 | $7.8B | $3.3B | ||
| Q3 24 | $7.5B | $3.4B | ||
| Q2 24 | $7.0B | $3.4B | ||
| Q1 24 | $7.2B | $3.4B |
| Q4 25 | $11.0B | $8.2B | ||
| Q3 25 | $10.5B | $7.6B | ||
| Q2 25 | $10.3B | $6.3B | ||
| Q1 25 | $9.8B | $5.8B | ||
| Q4 24 | $9.6B | $5.9B | ||
| Q3 24 | $9.3B | $5.8B | ||
| Q2 24 | $8.9B | $5.7B | ||
| Q1 24 | $8.6B | $5.7B |
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $417.3M |
| Free Cash FlowOCF − Capex | $429.6M | $379.8M |
| FCF MarginFCF / Revenue | 20.2% | 25.4% |
| Capex IntensityCapex / Revenue | 5.8% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.05× | 6.28× |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $941.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $553.8M | $417.3M | ||
| Q3 25 | $485.6M | $402.6M | ||
| Q2 25 | $173.2M | $263.6M | ||
| Q1 25 | $420.8M | $44.1M | ||
| Q4 24 | $483.9M | $75.2M | ||
| Q3 24 | $258.0M | $188.4M | ||
| Q2 24 | $255.3M | $-95.6M | ||
| Q1 24 | $435.3M | $-308.6M |
| Q4 25 | $429.6M | $379.8M | ||
| Q3 25 | $425.1M | $354.5M | ||
| Q2 25 | $127.5M | $219.8M | ||
| Q1 25 | $380.7M | $-12.3M | ||
| Q4 24 | $399.2M | $-17.3M | ||
| Q3 24 | $219.4M | $54.7M | ||
| Q2 24 | $218.2M | $-205.5M | ||
| Q1 24 | $402.1M | $-465.1M |
| Q4 25 | 20.2% | 25.4% | ||
| Q3 25 | 24.0% | 25.1% | ||
| Q2 25 | 7.0% | 16.7% | ||
| Q1 25 | 24.8% | -1.1% | ||
| Q4 24 | 21.9% | -1.5% | ||
| Q3 24 | 13.8% | 5.5% | ||
| Q2 24 | 14.5% | -22.1% | ||
| Q1 24 | 29.1% | -61.9% |
| Q4 25 | 5.8% | 2.5% | ||
| Q3 25 | 3.4% | 3.4% | ||
| Q2 25 | 2.5% | 3.3% | ||
| Q1 25 | 2.6% | 5.0% | ||
| Q4 24 | 4.6% | 8.2% | ||
| Q3 24 | 2.4% | 13.3% | ||
| Q2 24 | 2.5% | 11.8% | ||
| Q1 24 | 2.4% | 20.8% |
| Q4 25 | 1.05× | 6.28× | ||
| Q3 25 | 1.21× | 3.22× | ||
| Q2 25 | 0.43× | 2.79× | ||
| Q1 25 | 1.26× | 34.71× | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 1.58× | — |
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% |
ONC
Segment breakdown not available.
