Garmin vs Newell Brands
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The short version
- Garmin is the larger business, with $7.2B of revenue in fiscal 2025 against $7.2B for Newell Brands.
- Garmin grew revenue faster (15.1%, against −5.0%).
- Garmin kept more of each dollar of sales as operating profit (25.9% operating margin, against 0.5%).
- Garmin turned more of its sales into free cash flow (18.8% FCF margin, against 0.2%).
- Garmin earned a higher return on the capital invested in it (26.8%, against 0.5%).
| Latest fiscal year | GRMN · FY25 | NWL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $56.9B | $2.3B |
| Revenue | $7.2B | $7.2B |
| Free cash flow | $1.4B | $17.0M |
| Net income | $1.7B | −$285M |
| Growth | ||
| Revenue growth | 15.1% | −5.0% |
| 5-year growth | 11.6% | −5.2% |
| Share count change | 0.2% | 0.7% |
| Profitability | ||
| Gross margin | 58.7% | 33.8% |
| Operating margin | 25.9% | 0.5% |
| Net margin | 23.0% | −4.0% |
| FCF margin | 18.8% | 0.2% |
| Return on capital | 26.8% | 0.5% |
| Return on equity | 19.8% | −11.1% |
| Balance sheet | ||
| Net debt | −$2.7B | $4.3B |
| Net debt / EBITDA | −1.3x | 12.4x |
| Dividends and buybacks | $664M | $120M |
| Valuation & quality | ||
| P/E | 32.8x | — |
| Piotroski F-score | 6 | 4 |
Revenue
FY16
GRMN $3.0B
NWL $13.3B
FY17
GRMN $3.1B
NWL $14.7B
FY18
GRMN $3.3B
NWL $10.2B
FY19
GRMN $3.8B
NWL $9.7B
FY20
GRMN $4.2B
NWL $9.4B
FY21
GRMN $5.0B
NWL $10.6B
FY22
GRMN $4.9B
NWL $9.5B
FY23
GRMN $5.2B
NWL $8.1B
FY24
GRMN $6.3B
NWL $7.6B
FY25
GRMN $7.2B
NWL $7.2B
GRMN
NWL
Operating margin
FY16
GRMN 20.8%
NWL 2.3%
FY17
GRMN 21.9%
NWL 4.8%
FY18
GRMN 23.3%
NWL −74.4%
FY19
GRMN 25.2%
NWL −5.0%
FY20
GRMN 25.2%
NWL −6.7%
FY21
GRMN 24.5%
NWL 9.6%
FY22
GRMN 21.2%
NWL 3.3%
FY23
GRMN 20.9%
NWL −1.1%
FY24
GRMN 25.3%
NWL 0.9%
FY25
GRMN 25.9%
NWL 0.5%
GRMN
NWL
Free cash flow
FY16
GRMN $615M
NWL $1.4B
FY17
GRMN $521M
NWL $560M
FY18
GRMN $764M
NWL $296M
FY19
GRMN $581M
NWL $779M
FY20
GRMN $950M
NWL $1.2B
FY21
GRMN $705M
NWL $595M
FY22
GRMN $544M
NWL −$584M
FY23
GRMN $1.2B
NWL $646M
FY24
GRMN $1.2B
NWL $237M
FY25
GRMN $1.4B
NWL $17.0M
GRMN
NWL
Return on capital
FY16
GRMN —
NWL 1.1%
FY17
GRMN 24.6%
NWL 3.0%
FY18
GRMN 22.9%
NWL −33.4%
FY19
GRMN 29.6%
NWL −3.5%
FY20
GRMN 26.9%
NWL −5.5%
FY21
GRMN 27.5%
NWL 9.9%
FY22
GRMN 20.8%
NWL 3.7%
FY23
GRMN 22.3%
NWL −0.9%
FY24
GRMN 25.5%
NWL 0.7%
FY25
GRMN 26.8%
NWL 0.5%
GRMN
NWL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.