• Garmin average net profit margin for 2023 was 21.35%, a 5.38% increase from 2022.
• Garmin average net profit margin for 2022 was 20.26%, a 12.71% increase from 2021.
• Garmin average net profit margin for 2021 was 23.21%, a 6.9% decline from 2020.

Net profit margin can be defined as net Income as a portion of total sales revenue.