Core Insights - Garmin reported record revenue and profit for both the fourth quarter and fiscal year 2025, with a consolidated revenue of $2.12 billion for Q4, a 17% increase year-over-year, and $7.25 billion for the full year, a 15% increase [1][2] - The company announced a 17% increase in dividends and a new $500 million share repurchase program [1] Financial Performance - Q4 2025 GAAP EPS was $2.73, with pro forma EPS of $2.79, reflecting a 16% growth in pro forma EPS compared to the prior year [1] - Operating income for Q4 was $614 million, a 19% increase year-over-year, with an operating margin of 28.9% [1] - Fiscal year 2025 GAAP EPS was $8.59, with record pro forma EPS of $8.56, also representing a 16% growth over the previous year [1] Segment Performance - Fitness segment revenue increased by 42% in Q4, driven by strong demand for wearables, with operating income of $257 million [1] - Outdoor segment revenue remained flat compared to the prior year, with operating income of $234 million [1] - Aviation segment revenue grew by 16% in Q4, with operating income of $85 million [1] - Marine segment revenue increased by 18% in Q4, with operating income of $52 million [1] - Auto OEM segment revenue decreased by 3% in Q4, resulting in an operating loss of $14 million [1] Cash Flow and Expenses - Operating cash flow for Q4 was $554 million, with free cash flow of $430 million [1] - Total operating expenses in Q4 were $644 million, a 14% increase from the prior year [1] Future Guidance - For fiscal year 2026, Garmin expects revenue of $7.9 billion, a 9% increase over 2025, with pro forma EPS projected at $9.35 [1]