Financial Performance
5Y price score: 115
The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.
A score of 100 indicates that the stock did as well as the S&P 500 Index.
A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.
10Y return: 512.7%
US$ Per
Share
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186.6
52-week range
314.2
Your model inputs
Your fair value & Margin of safety
To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.
Forecast:
Valuation
Free Cash Flow Yield
2.5 %
Dividend Yield TTM
1.2 %
Market cap $
$ 60,157
Price / Earnings TTM
32.2
Price / Book TTM
6.7
PEG TTM
1.8
Earnings growth and return
LTM
5YR
10YR
Total return (price & dividends)
33.3 %
95.1 %
512.7 %
Free cash flow per share growth
9.9 %
42.5 %
586.4 %
Earnings per share growth
17.7 %
66.2 %
259.4 %
Founded: 1,989
Employees: 21,800
Business Summary:
Latest Earnings Call Takeaways
2026 Q2 (Jul 29, 2026)
1) Financial Performance Highlights
- Garmin achieved record revenue of $2.02 billion, an 11% YoY increase.
- Gross margin improved to 62.4%, a 360 basis point increase from the previous year, aided by a $21 million tariff refund.
- Operating income rose 30% to $616 million, with a pro forma EPS of $2.81.
- Full-year revenue guidance raised to approximately $8.05 billion, with pro forma EPS expected at $10.
2) Segment Performance
- Fitness Segment: Revenue increased 25% to $757 million, with operating income of $277 million and margins of 64%. New product launches included the Forerunner 70 and CIRQL Smart Ring.
- Outdoor Segment: Revenue decreased 2% to $483 million, with operating income of $164 million and margins of 69%. New product launches included the Approach Z10.
- Aviation Segment: Revenue grew 8% to $269 million, with operating income of $72 million and margins of 75%. New products included the D2 Mach 1 Pro smartwatch and AXIS cockpit display solutions.
- Marine Segment: Revenue increased 14% to $341 million, with operating income of $100 million and margins of 61%. New products included the Garmin Signal VHF marine radio.
- Auto OEM Segment: Revenue increased 1% to $172 million, but expected to decline in the second half of 2026 due to contract transitions.
3) Strategic Initiatives and Acquisitions
- Garmin announced the acquisition of Training Peaks and TrainHeroic, enhancing its fitness segment by connecting coaches and athletes.
- The company is focused on expanding its service revenue and enhancing customer experience through integrated platforms.
- The CIRQL Smart Ring launch received strong demand, indicating a successful entry into new wearable form factors.
4) Challenges and Headwinds
- Anticipated higher memory costs are expected to impact margins in the second half of 2026.
- The Auto OEM segment is facing a revenue decline as it transitions to new contracts, particularly with Mercedes-Benz in 2027.
- Overall, Garmin is managing cost pressures effectively, similar to past challenges with tariffs.
5) Guidance and Outlook
- Garmin expects continued growth in the second half of 2026, particularly in the fitness and aviation segments.
- Full-year gross margin guidance raised to approximately 59.7%, reflecting strong first-half performance.
- The company remains optimistic about its product portfolio and market opportunities, despite anticipated challenges.
Bottom line: Garmin's strong Q2 performance, driven by record revenues and strategic acquisitions, positions the company well for continued growth, although it faces potential headwinds from rising costs and segment transitions. Investors should remain optimistic given the raised guidance and robust product pipeline.
Annual Reports, Presentations And IR Contacts
Go to the websiteGarmin — Financial Overview, Stock Price, Market Cap
Garmin is a company. Founded in 1989. As of August 14, 2026, the company's market capitalization is $60156636290 with a current stock price of $311.93.