Here is Why Garmin (GRMN) is a Good Investment at Today’s Price
Source: Insider Monkey ·
Garmin Ltd. (NYSE:GRMN) is filed away in most investors’ heads as the company that used to make running watches, before Apple came along and took the category. That is the received wisdom, and the numbers say the opposite. The shares closed at $295.05 on September 24, up close to a quarter this year. Revenue grew […]
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Garmin Ltd. (NYSE: GRMN ) is filed away in most investors' heads as the company that used to make running watches, before Apple came along and took the category. That is the received wisdom, and the numbers say the opposite. The shares closed at $295.05 on September 24, up close to a quarter this year. Revenue grew about 14% over the past twelve months, and profit grew nearly 20%. READ ALSO: Garmin's (GRMN) New Autopilot Signals Where Growth Is Headed Garmin Won the Fight Everyone Assumed it Lost: Fitness grew about 25% last quarter, faster than anything else Garmin owns. It also earns the fattest margin in the company, better than thirty-five cents of operating profit on the dollar, and it now produces more operating profit than the aviation and marine divisions put together. That is not what a commoditised business looks like. Garmin kept the runners, the cyclists and anyone who wants a week of battery life rather than a day, and it kept them at full price. The rest of the company…