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Side-by-side financial comparison of Garmin (GRMN) and RXO, Inc. (RXO). 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× RXO, Inc.). Garmin runs the higher net margin — 24.9% vs -3.1%, a 28.0% gap on every dollar of revenue. On growth, Garmin posted the faster year-over-year revenue change (16.6% vs -11.9%). Garmin produced more free cash flow last quarter ($429.6M vs $-9.0M). Over the past eight quarters, RXO, Inc.'s revenue compounded faster (26.8% 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.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
GRMN vs RXO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.5B |
| Net Profit | $528.7M | $-46.0M |
| Gross Margin | 59.2% | — |
| Operating Margin | 28.9% | -2.9% |
| Net Margin | 24.9% | -3.1% |
| Revenue YoY | 16.6% | -11.9% |
| Net Profit YoY | 21.3% | -84.0% |
| EPS (diluted) | $2.72 | $-0.28 |
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 | $1.4B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.5B | $930.0M | ||
| Q1 24 | $1.4B | $913.0M |
| Q4 25 | $528.7M | $-46.0M | ||
| Q3 25 | $401.6M | $-14.0M | ||
| Q2 25 | $400.8M | $-9.0M | ||
| Q1 25 | $332.8M | $-31.0M | ||
| Q4 24 | $435.7M | $-25.0M | ||
| Q3 24 | $399.1M | $-243.0M | ||
| Q2 24 | $300.6M | $-7.0M | ||
| Q1 24 | $276.0M | $-15.0M |
| Q4 25 | 59.2% | — | ||
| Q3 25 | 59.1% | — | ||
| Q2 25 | 58.8% | — | ||
| Q1 25 | 57.6% | — | ||
| Q4 24 | 59.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 57.3% | — | ||
| Q1 24 | 58.1% | — |
| Q4 25 | 28.9% | -2.9% | ||
| Q3 25 | 25.8% | -0.5% | ||
| Q2 25 | 26.0% | — | ||
| Q1 25 | 21.7% | -2.1% | ||
| Q4 24 | 28.3% | -1.4% | ||
| Q3 24 | 27.6% | -1.9% | ||
| Q2 24 | 22.7% | — | ||
| Q1 24 | 21.6% | -1.3% |
| Q4 25 | 24.9% | -3.1% | ||
| Q3 25 | 22.7% | -1.0% | ||
| Q2 25 | 22.1% | -0.6% | ||
| Q1 25 | 21.7% | -2.2% | ||
| Q4 24 | 23.9% | -1.5% | ||
| Q3 24 | 25.2% | -23.4% | ||
| Q2 24 | 20.0% | -0.8% | ||
| Q1 24 | 20.0% | -1.6% |
| Q4 25 | $2.72 | $-0.28 | ||
| Q3 25 | $2.08 | $-0.08 | ||
| Q2 25 | $2.07 | $-0.05 | ||
| Q1 25 | $1.72 | $-0.18 | ||
| Q4 24 | $2.24 | $-0.17 | ||
| Q3 24 | $2.07 | $-1.81 | ||
| Q2 24 | $1.56 | $-0.06 | ||
| Q1 24 | $1.43 | $-0.13 |
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 | $17.0M |
| Total DebtLower is stronger | — | $387.0M |
| Stockholders' EquityBook value | $9.0B | $1.5B |
| Total Assets | $11.0B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $17.0M | ||
| Q3 25 | $2.1B | $25.0M | ||
| Q2 25 | $2.1B | $18.0M | ||
| Q1 25 | $2.2B | $16.0M | ||
| Q4 24 | $2.1B | $35.0M | ||
| Q3 24 | $2.0B | $55.0M | ||
| Q2 24 | $1.9B | $7.0M | ||
| Q1 24 | $1.9B | $7.0M |
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
| Q4 25 | $9.0B | $1.5B | ||
| Q3 25 | $8.5B | $1.6B | ||
| Q2 25 | $8.1B | $1.6B | ||
| Q1 25 | $8.2B | $1.6B | ||
| Q4 24 | $7.8B | $1.6B | ||
| Q3 24 | $7.5B | $1.7B | ||
| Q2 24 | $7.0B | $579.0M | ||
| Q1 24 | $7.2B | $582.0M |
| Q4 25 | $11.0B | $3.3B | ||
| Q3 25 | $10.5B | $3.2B | ||
| Q2 25 | $10.3B | $3.2B | ||
| Q1 25 | $9.8B | $3.3B | ||
| Q4 24 | $9.6B | $3.4B | ||
| Q3 24 | $9.3B | $3.4B | ||
| Q2 24 | $8.9B | $1.8B | ||
| Q1 24 | $8.6B | $1.8B |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 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 | $553.8M | $7.0M |
| Free Cash FlowOCF − Capex | $429.6M | $-9.0M |
| FCF MarginFCF / Revenue | 20.2% | -0.6% |
| Capex IntensityCapex / Revenue | 5.8% | 1.1% |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $553.8M | $7.0M | ||
| Q3 25 | $485.6M | $23.0M | ||
| Q2 25 | $173.2M | $23.0M | ||
| Q1 25 | $420.8M | $-2.0M | ||
| Q4 24 | $483.9M | $-7.0M | ||
| Q3 24 | $258.0M | $-7.0M | ||
| Q2 24 | $255.3M | $-5.0M | ||
| Q1 24 | $435.3M | $7.0M |
| Q4 25 | $429.6M | $-9.0M | ||
| Q3 25 | $425.1M | $9.0M | ||
| Q2 25 | $127.5M | $9.0M | ||
| Q1 25 | $380.7M | $-17.0M | ||
| Q4 24 | $399.2M | $-19.0M | ||
| Q3 24 | $219.4M | $-18.0M | ||
| Q2 24 | $218.2M | $-16.0M | ||
| Q1 24 | $402.1M | $-4.0M |
| Q4 25 | 20.2% | -0.6% | ||
| Q3 25 | 24.0% | 0.6% | ||
| Q2 25 | 7.0% | 0.6% | ||
| Q1 25 | 24.8% | -1.2% | ||
| Q4 24 | 21.9% | -1.1% | ||
| Q3 24 | 13.8% | -1.7% | ||
| Q2 24 | 14.5% | -1.7% | ||
| Q1 24 | 29.1% | -0.4% |
| Q4 25 | 5.8% | 1.1% | ||
| Q3 25 | 3.4% | 1.0% | ||
| Q2 25 | 2.5% | 1.0% | ||
| Q1 25 | 2.6% | 1.0% | ||
| Q4 24 | 4.6% | 0.7% | ||
| Q3 24 | 2.4% | 1.1% | ||
| Q2 24 | 2.5% | 1.2% | ||
| Q1 24 | 2.4% | 1.2% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 1.26× | — | ||
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
