Intuit Inc. vs Garmin Ltd.: A Decade of R&D Investment

In the ever-evolving tech landscape, strategic investment in research and development (R&D) is crucial for innovation and growth. Over the past decade, Intuit Inc. and Garmin Ltd. have demonstrated contrasting approaches to R&D spending. From 2014 to 2023, Intuit Inc. has consistently increased its R&D budget, culminating in a 236% rise, reaching approximately $2.54 billion in 2023. This reflects Intuit's commitment to maintaining its competitive edge in financial software solutions.

Conversely, Garmin Ltd. has shown a more conservative growth in R&D expenditure, with a 129% increase over the same period, reaching around $904 million in 2023. This steady investment aligns with Garmin's focus on enhancing its GPS technology and wearable devices. Notably, data for Garmin in 2024 is unavailable, indicating potential shifts in strategy. As these tech giants continue to innovate, their R&D spending patterns offer valuable insights into their future trajectories.