0
Login

Garmin Ltd

Garmin produces GPS-enabled hardware and software for five sectors: fitness, outdoors, automotive, aviation, and marine. Garmin has built a strong reputation fo...

instructor-image Bradford Hall

0

... En
... Certificate Company
... 0 Investors
... 00h 00m
GRMN logo
Garmin Ltd
GRMN SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS · Market Cap: $47B
$253.65 ▲ +4.61%
+$11.18 today · as of 29 Jul 2026
71 S.I.F.T
S.I.F.T.™ Analysis
Green
Login to Issue Journal
Strong investment quality – all pillars healthy.
Last updated: 29 Jul 2026 · Confidence: 70%
Pillar Breakdown
🛡 Safety 65
Strong balance sheet and competitive moat provide good downside protection.
💰 Income 80
High cyclicality and lack of recurring revenue are limiting stability.
📊 Fundamentals 65
Strong growth but valuation is elevated.
⏱ Time 75
Shorter track record or weaker tailwinds.
🧠 Munger Reality Filter HOLD

Moderate moat from vertical integration, durable brand reputation in precision GPS devices, and diversification across fitness, aviation, marine, and automotive sectors.

Strengths: High income stability pillar (80) supporting reliable dividends (1.73% yield), Vertically integrated design and manufacturing enabling high-precision, durable products, Diversified portfolio across five end-markets with strong ROE of 15.85%
Risks: Intense competition in consumer fitness and automotive segments from larger tech players, Moderate safety and fundamentals pillar scores (65 each) with zero warchest percentage, Geographic concentration in North America and Europe exposing to regional economic shifts
📈 Price History

Business Overview

Garmin produces GPS-enabled hardware and software for five sectors: fitness, outdoors, automotive, aviation, and marine. Garmin has built a strong reputation for durable, high-precision devices through a vertically integrated design and manufacturing approach. The company's product lines include smartwatches, fitness trackers, communication equipment, and a comprehensive suite of systems for marine and aviation navigation. Garmin operates globally, with its business focused primarily on North America and Europe.
Key Metrics
ROE (10yr)
15.9%
Debt / CFO
N/A
Div. Yield
0.00%
FCF Growth
0.0%

FAQ

Financial Details

Recent Quarters
Quarter Revenue Gross Profit EPS
No quarterly data available.
Segment Breakdown
Data Center 56%
Client 28%
Gaming 9%
Embedded 7%

Management

Leadership Summary
  • Long-tenured executive team with deep domain expertise in GPS and wearable technology.
  • Strong focus on R&D investment driving consistent product pipeline.
  • Proven ability to expand into new markets such as aviation, marine, and fitness.
  • Conservative balance sheet management supporting steady dividend growth.
Track Record

Under current leadership, Garmin has delivered consistent revenue growth averaging 8-10% annually over the past five years, expanded operating margins through operational efficiency, and maintained a debt-free balance sheet while returning capital via dividends and buybacks.

Recent Commentary

“In the latest earnings call, CEO Pemble highlighted strong demand for fitness and outdoor segments, noted supply chain stabilization, and reaffirmed guidance for mid-single-digit revenue growth in 2024 amid macroeconomic caution.”

Analyst Reviews & Risks

Wall Street Consensus
4.6
out of 5 (Strong Buy)
Average Target: $485.00
Key Investment Risks
  • Intense competition in consumer fitness and automotive segments from larger tech players
  • Moderate safety and fundamentals pillar scores (65 each) with zero warchest percentage
  • Geographic concentration in North America and Europe exposing to regional economic shifts
Ownership & Sentiment

Institutional Ownership: N/A%

Short Interest: N/A%

AI Investment Thesis
  • Garmin maintains a leading position in the premium fitness and outdoor wearable market with strong brand loyalty and ecosystem lock-in via Garmin Connect.
  • Diversified revenue across consumer, aviation, marine, and automotive segments provides resilience against cyclical downturns in any single category.
  • High gross margins (~55-60%) and consistent free cash flow generation support ongoing R&D investment and shareholder returns via dividends and buybacks.
  • Growing software and subscription revenue from fitness tracking, navigation, and aviation services offers higher-margin recurring revenue streams.
  • Expansion opportunities in enterprise health monitoring and automotive ADAS leverage existing sensor and mapping expertise for new growth vectors.
Key Catalysts & Risks
Catalysts
  • Launch of next-gen smartwatches with advanced health sensors and AI coaching features driving upgrade cycles.
  • Aviation segment recovery and new FAA certifications boosting commercial and business jet demand.
  • Expansion of subscription services and partnerships with health insurers or corporate wellness programs.
Risks
  • Intense competition from Apple Watch, Samsung, and Google Wear OS eroding market share in consumer wearables.
  • Supply chain disruptions or component shortages impacting product availability and margins.
  • Macroeconomic slowdown reducing discretionary consumer spending on premium electronics.
Peer Comparison
Company P/E Rev Growth Gross Margin ROE Debt/Equity
NVDA N/A N/A% N/A% 61.51% 0.51
INTC N/A N/A% N/A% -5.53% 6.65
AVGO N/A N/A% N/A% 16.36% 2.72
AMD N/A N/A% N/A% 6.29% 1.78
  • ...

    Investors

     0

  • Ticker

     GRMN
  • ...

    Sector

     SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS

  • Current Price

     $253.65

  • S.I.F.T. Score

     71
Login to Add Portfolio