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Side-by-side financial comparison of Garmin (GRMN) and Primoris Services Corp (PRIM). Click either name above to swap in a different company.
Primoris Services Corp is the larger business by last-quarter revenue ($1.9B vs $1.8B, roughly 1.1× Garmin). Garmin runs the higher net margin — 23.1% vs 2.8%, a 20.3% gap on every dollar of revenue. On growth, Garmin posted the faster year-over-year revenue change (14.0% vs 6.7%). Garmin produced more free cash flow last quarter ($469.4M vs $121.1M). Over the past eight quarters, Primoris Services Corp's revenue compounded faster (14.7% CAGR vs 7.9%).
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.
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
GRMN vs PRIM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $1.9B |
| Net Profit | $405.1M | $51.7M |
| Gross Margin | 59.4% | 9.4% |
| Operating Margin | 24.6% | 4.2% |
| Net Margin | 23.1% | 2.8% |
| Revenue YoY | 14.0% | 6.7% |
| Net Profit YoY | 21.7% | -4.2% |
| EPS (diluted) | $2.09 | $0.94 |
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 | $1.9B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $1.8B | $1.9B | ||
| Q1 25 | $1.5B | $1.6B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.5B | $1.6B |
| Q1 26 | $405.1M | — | ||
| Q4 25 | $528.7M | $51.7M | ||
| Q3 25 | $401.6M | $94.6M | ||
| Q2 25 | $400.8M | $84.3M | ||
| Q1 25 | $332.8M | $44.2M | ||
| Q4 24 | $435.7M | $54.0M | ||
| Q3 24 | $399.1M | $58.4M | ||
| Q2 24 | $300.6M | $49.5M |
| Q1 26 | 59.4% | — | ||
| Q4 25 | 59.2% | 9.4% | ||
| Q3 25 | 59.1% | 10.8% | ||
| Q2 25 | 58.8% | 12.3% | ||
| Q1 25 | 57.6% | 10.4% | ||
| Q4 24 | 59.3% | 10.6% | ||
| Q3 24 | 60.0% | 12.0% | ||
| Q2 24 | 57.3% | 11.9% |
| Q1 26 | 24.6% | — | ||
| Q4 25 | 28.9% | 4.2% | ||
| Q3 25 | 25.8% | 6.3% | ||
| Q2 25 | 26.0% | 6.7% | ||
| Q1 25 | 21.7% | 4.3% | ||
| Q4 24 | 28.3% | 5.0% | ||
| Q3 24 | 27.6% | 6.0% | ||
| Q2 24 | 22.7% | 5.5% |
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.9% | 2.8% | ||
| Q3 25 | 22.7% | 4.3% | ||
| Q2 25 | 22.1% | 4.5% | ||
| Q1 25 | 21.7% | 2.7% | ||
| Q4 24 | 23.9% | 3.1% | ||
| Q3 24 | 25.2% | 3.5% | ||
| Q2 24 | 20.0% | 3.2% |
| Q1 26 | $2.09 | — | ||
| Q4 25 | $2.72 | $0.94 | ||
| Q3 25 | $2.08 | $1.73 | ||
| Q2 25 | $2.07 | $1.54 | ||
| Q1 25 | $1.72 | $0.81 | ||
| Q4 24 | $2.24 | $0.98 | ||
| Q3 24 | $2.07 | $1.07 | ||
| Q2 24 | $1.56 | $0.91 |
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 | $535.5M |
| Total DebtLower is stronger | — | $469.9M |
| Stockholders' EquityBook value | — | $1.7B |
| Total Assets | $11.0B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $535.5M | ||
| Q3 25 | $2.1B | $431.4M | ||
| Q2 25 | $2.1B | $390.3M | ||
| Q1 25 | $2.2B | $351.6M | ||
| Q4 24 | $2.1B | $455.8M | ||
| Q3 24 | $2.0B | $352.7M | ||
| Q2 24 | $1.9B | $207.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $469.9M | ||
| Q3 25 | — | $486.0M | ||
| Q2 25 | — | $603.1M | ||
| Q1 25 | — | $612.0M | ||
| Q4 24 | — | $734.8M | ||
| Q3 24 | — | $903.7M | ||
| Q2 24 | — | $933.0M |
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $1.7B | ||
| Q3 25 | $8.5B | $1.6B | ||
| Q2 25 | $8.1B | $1.5B | ||
| Q1 25 | $8.2B | $1.4B | ||
| Q4 24 | $7.8B | $1.4B | ||
| Q3 24 | $7.5B | $1.4B | ||
| Q2 24 | $7.0B | $1.3B |
| Q1 26 | $11.0B | — | ||
| Q4 25 | $11.0B | $4.4B | ||
| Q3 25 | $10.5B | $4.6B | ||
| Q2 25 | $10.3B | $4.5B | ||
| Q1 25 | $9.8B | $4.2B | ||
| Q4 24 | $9.6B | $4.2B | ||
| Q3 24 | $9.3B | $4.2B | ||
| Q2 24 | $8.9B | $4.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.72× |
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 | $142.9M |
| Free Cash FlowOCF − Capex | $469.4M | $121.1M |
| FCF MarginFCF / Revenue | 26.8% | 6.5% |
| Capex IntensityCapex / Revenue | — | 1.2% |
| Cash ConversionOCF / Net Profit | 1.32× | 2.76× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $340.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $536.0M | — | ||
| Q4 25 | $553.8M | $142.9M | ||
| Q3 25 | $485.6M | $182.9M | ||
| Q2 25 | $173.2M | $78.5M | ||
| Q1 25 | $420.8M | $66.2M | ||
| Q4 24 | $483.9M | $298.3M | ||
| Q3 24 | $258.0M | $222.5M | ||
| Q2 24 | $255.3M | $16.1M |
| Q1 26 | $469.4M | — | ||
| Q4 25 | $429.6M | $121.1M | ||
| Q3 25 | $425.1M | $148.4M | ||
| Q2 25 | $127.5M | $45.3M | ||
| Q1 25 | $380.7M | $25.6M | ||
| Q4 24 | $399.2M | $270.0M | ||
| Q3 24 | $219.4M | $158.8M | ||
| Q2 24 | $218.2M | $-8.1M |
| Q1 26 | 26.8% | — | ||
| Q4 25 | 20.2% | 6.5% | ||
| Q3 25 | 24.0% | 6.8% | ||
| Q2 25 | 7.0% | 2.4% | ||
| Q1 25 | 24.8% | 1.6% | ||
| Q4 24 | 21.9% | 15.5% | ||
| Q3 24 | 13.8% | 9.6% | ||
| Q2 24 | 14.5% | -0.5% |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 1.2% | ||
| Q3 25 | 3.4% | 1.6% | ||
| Q2 25 | 2.5% | 1.8% | ||
| Q1 25 | 2.6% | 2.5% | ||
| Q4 24 | 4.6% | 1.6% | ||
| Q3 24 | 2.4% | 3.9% | ||
| Q2 24 | 2.5% | 1.5% |
| Q1 26 | 1.32× | — | ||
| Q4 25 | 1.05× | 2.76× | ||
| Q3 25 | 1.21× | 1.93× | ||
| Q2 25 | 0.43× | 0.93× | ||
| Q1 25 | 1.26× | 1.50× | ||
| Q4 24 | 1.11× | 5.53× | ||
| Q3 24 | 0.65× | 3.81× | ||
| Q2 24 | 0.85× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRMN
Segment breakdown not available.
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
