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Side-by-side financial comparison of Garmin (GRMN) and SEALED AIR CORP (SEE). Click either name above to swap in a different company.
Garmin is the larger business by last-quarter revenue ($2.1B vs $1.4B, roughly 1.5× SEALED AIR CORP). Garmin runs the higher net margin — 24.9% vs 3.1%, a 21.7% gap on every dollar of revenue. On growth, Garmin posted the faster year-over-year revenue change (16.6% vs 2.6%). Garmin produced more free cash flow last quarter ($429.6M vs $257.7M). Over the past eight quarters, Garmin's revenue compounded faster (24.0% CAGR vs 2.7%).
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.
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
GRMN vs SEE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.4B |
| Net Profit | $528.7M | $43.8M |
| Gross Margin | 59.2% | 28.6% |
| Operating Margin | 28.9% | 11.4% |
| Net Margin | 24.9% | 3.1% |
| Revenue YoY | 16.6% | 2.6% |
| Net Profit YoY | 21.3% | 700.0% |
| EPS (diluted) | $2.72 | $0.30 |
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 | $1.4B | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.4B | $1.3B |
| Q4 25 | $528.7M | $43.8M | ||
| Q3 25 | $401.6M | $255.1M | ||
| Q2 25 | $400.8M | $93.1M | ||
| Q1 25 | $332.8M | $113.5M | ||
| Q4 24 | $435.7M | $-7.3M | ||
| Q3 24 | $399.1M | $91.7M | ||
| Q2 24 | $300.6M | $98.3M | ||
| Q1 24 | $276.0M | $82.0M |
| Q4 25 | 59.2% | 28.6% | ||
| Q3 25 | 59.1% | 29.8% | ||
| Q2 25 | 58.8% | 30.7% | ||
| Q1 25 | 57.6% | 30.9% | ||
| Q4 24 | 59.3% | 30.0% | ||
| Q3 24 | 60.0% | 30.1% | ||
| Q2 24 | 57.3% | 31.2% | ||
| Q1 24 | 58.1% | 30.3% |
| Q4 25 | 28.9% | 11.4% | ||
| Q3 25 | 25.8% | 13.8% | ||
| Q2 25 | 26.0% | 15.0% | ||
| Q1 25 | 21.7% | 14.5% | ||
| Q4 24 | 28.3% | 11.7% | ||
| Q3 24 | 27.6% | 13.9% | ||
| Q2 24 | 22.7% | 15.4% | ||
| Q1 24 | 21.6% | 14.0% |
| Q4 25 | 24.9% | 3.1% | ||
| Q3 25 | 22.7% | 19.0% | ||
| Q2 25 | 22.1% | 7.0% | ||
| Q1 25 | 21.7% | 9.0% | ||
| Q4 24 | 23.9% | -0.5% | ||
| Q3 24 | 25.2% | 6.9% | ||
| Q2 24 | 20.0% | 7.4% | ||
| Q1 24 | 20.0% | 6.2% |
| Q4 25 | $2.72 | $0.30 | ||
| Q3 25 | $2.08 | $1.73 | ||
| Q2 25 | $2.07 | $0.63 | ||
| Q1 25 | $1.72 | $0.77 | ||
| Q4 24 | $2.24 | $-0.05 | ||
| Q3 24 | $2.07 | $0.63 | ||
| Q2 24 | $1.56 | $0.67 | ||
| Q1 24 | $1.43 | $0.56 |
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 | $344.0M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $9.0B | $1.2B |
| Total Assets | $11.0B | $7.0B |
| Debt / EquityLower = less leverage | — | 2.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $344.0M | ||
| Q3 25 | $2.1B | $282.5M | ||
| Q2 25 | $2.1B | $354.4M | ||
| Q1 25 | $2.2B | $335.2M | ||
| Q4 24 | $2.1B | $371.8M | ||
| Q3 24 | $2.0B | $386.0M | ||
| Q2 24 | $1.9B | $388.6M | ||
| Q1 24 | $1.9B | $352.8M |
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
| Q4 25 | $9.0B | $1.2B | ||
| Q3 25 | $8.5B | $1.2B | ||
| Q2 25 | $8.1B | $953.1M | ||
| Q1 25 | $8.2B | $797.9M | ||
| Q4 24 | $7.8B | $624.5M | ||
| Q3 24 | $7.5B | $771.2M | ||
| Q2 24 | $7.0B | $650.1M | ||
| Q1 24 | $7.2B | $598.3M |
| Q4 25 | $11.0B | $7.0B | ||
| Q3 25 | $10.5B | $7.1B | ||
| Q2 25 | $10.3B | $7.2B | ||
| Q1 25 | $9.8B | $7.0B | ||
| Q4 24 | $9.6B | $7.0B | ||
| Q3 24 | $9.3B | $7.3B | ||
| Q2 24 | $8.9B | $7.3B | ||
| Q1 24 | $8.6B | $7.2B |
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $293.6M |
| Free Cash FlowOCF − Capex | $429.6M | $257.7M |
| FCF MarginFCF / Revenue | 20.2% | 18.5% |
| Capex IntensityCapex / Revenue | 5.8% | 2.6% |
| Cash ConversionOCF / Net Profit | 1.05× | 6.70× |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $458.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $553.8M | $293.6M | ||
| Q3 25 | $485.6M | $165.9M | ||
| Q2 25 | $173.2M | $136.6M | ||
| Q1 25 | $420.8M | $31.9M | ||
| Q4 24 | $483.9M | $244.2M | ||
| Q3 24 | $258.0M | $170.5M | ||
| Q2 24 | $255.3M | $188.2M | ||
| Q1 24 | $435.3M | $125.1M |
| Q4 25 | $429.6M | $257.7M | ||
| Q3 25 | $425.1M | $119.6M | ||
| Q2 25 | $127.5M | $93.2M | ||
| Q1 25 | $380.7M | $-12.0M | ||
| Q4 24 | $399.2M | $185.1M | ||
| Q3 24 | $219.4M | $115.2M | ||
| Q2 24 | $218.2M | $129.5M | ||
| Q1 24 | $402.1M | $78.0M |
| Q4 25 | 20.2% | 18.5% | ||
| Q3 25 | 24.0% | 8.9% | ||
| Q2 25 | 7.0% | 7.0% | ||
| Q1 25 | 24.8% | -0.9% | ||
| Q4 24 | 21.9% | 13.6% | ||
| Q3 24 | 13.8% | 8.6% | ||
| Q2 24 | 14.5% | 9.7% | ||
| Q1 24 | 29.1% | 5.9% |
| Q4 25 | 5.8% | 2.6% | ||
| Q3 25 | 3.4% | 3.4% | ||
| Q2 25 | 2.5% | 3.3% | ||
| Q1 25 | 2.6% | 3.5% | ||
| Q4 24 | 4.6% | 4.4% | ||
| Q3 24 | 2.4% | 4.1% | ||
| Q2 24 | 2.5% | 4.4% | ||
| Q1 24 | 2.4% | 3.6% |
| Q4 25 | 1.05× | 6.70× | ||
| Q3 25 | 1.21× | 0.65× | ||
| Q2 25 | 0.43× | 1.47× | ||
| Q1 25 | 1.26× | 0.28× | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.65× | 1.86× | ||
| Q2 24 | 0.85× | 1.91× | ||
| Q1 24 | 1.58× | 1.53× |
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
