GRMN - Garmin: A Cautious Buy Navigating To The Future

2024-01-22 23:46:15 ET

Summary

• Garmin has evolved from a navigation device manufacturer to a comprehensive solutions provider for fitness and the outdoors.
• The wearables market, where GRMN has a strong presence, is expected to grow at a CAGR of 12.9% in North America.
• The Company's financial performance is strong, with high profitability, no debt, and a sizable cash stockpile. Q3 results showed growth in revenue and operating profits.

Thesis

As technology penetrates almost every aspect of life, fitness and the outdoors could not have escaped. For a company that started as a navigation device manufacturer, today Garmin ( GRMN ) has evolved into a comprehensive solutions provider for all things outdoors. In this analysis, I will explore the company's attributes, financial performance and offer a more in-depth look into its valuation....

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