• Garmin average pre-tax profit margin for 2023 was 22.39%, a 1.22% increase from 2022.
• Garmin average pre-tax profit margin for 2022 was 22.12%, a 15.6% increase from 2021.
• Garmin average pre-tax profit margin for 2021 was 26.21%, a 2.54% decline from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.