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Garmin Ltd  (GRMN)
Other Ticker:  
 
    Sector  Capital Goods    Industry Aerospace & Defense
   Industry Aerospace & Defense
   Sector  Capital Goods
 
Price: $146.0100 $0.26 0.178%
Day's High: $146.75 Week Perf: -1.64 %
Day's Low: $ 146.08 30 Day Perf: 17.79 %
Volume (M): 11 52 Wk High: $ 149.42
Volume (M$): $ 1,611 52 Wk Avg: $111.94
Open: $145.81 52 Wk Low: $94.33



 Market Capitalization (Millions $) 28,015
 Shares Outstanding (Millions) 192
 Employees 18,700
 Revenues (TTM) (Millions $) 5,051
 Net Income (TTM) (Millions $) 1,041
 Cash Flow (TTM) (Millions $) 341
 Capital Exp. (TTM) (Millions $) 206

Garmin Ltd

Garmin is a leading, worldwide provider of navigation, communication and information devices and applications, most of which are enabled by Global Positioning System (“GPS”) technology. Garmin designs, develops, manufactures and markets a diverse family of hand-held, portable and fixed-mount GPS-enabled products and other navigation, communications and information products for the automotive/mobile, outdoor, fitness, marine, and general aviation markets.

The Global Positioning System is a worldwide navigation system which enables the precise determination of geographic location using established satellite technology. The system consists of a constellation of orbiting satellites. The satellites and their ground control and monitoring stations are maintained and operated by the United States Department of Defense, which maintains an ongoing satellite replenishment program to ensure continuous global system coverage. Access to the system is provided free of charge by the U.S. government.

Prior to May 2000, the U.S. Department of Defense intentionally degraded the accuracy of civilian GPS signals in a process known as Selective Availability (‘‘SA’’) for national security purposes. SA variably degraded GPS position accuracy to a radius of 100 meters. On May 2, 2000, the U.S. Department of Defense discontinued SA. In a presidential policy statement issued in December 2004, the Bush administration indicated that the U.S. does not intend to implement SA again and is committed to preventing hostile use of GPS through regional denial of service, minimizing the impact to peaceful users. With SA removed, a GPS receiver can calculate its position to an accuracy of approximately 10 meters or less, enhancing the utility of GPS for most applications.

The accuracy and utility of GPS can be enhanced through augmentation techniques which compute any remaining errors in the signal and broadcast these corrections to a GPS device. The Federal Aviation Administration (“FAA”) has developed a Wide Area Augmentation System (‘‘WAAS’’) comprising ground reference stations and additional satellites that improve the accuracy of GPS positioning available in the United States and most of Canada and Mexico to approximately 3 meters. WAAS supports the use of GPS as the primary means of enroute, terminal and approach navigation for aviation in the United States. The increased accuracy offered by WAAS also enhances the utility of WAAS-enabled GPS receivers for consumer applications. The FAA announced on July 11, 2003 that the WAAS system had achieved initial operating capability and that the system was available for instrument flight use with appropriately certified avionics equipment. Since that time, the FAA has installed additional ground reference stations and has launched additional WAAS satellites.

Japan’s MTSAT-based Satellite Augmentation System (“MSAS”) achieved initial operating capability for en route, terminal and approach navigation for aviation on September 27, 2007. The European Geostationary Navigation Overlay Service (EGNOS) aviation Safety of Life (“SoL”) service achieved initial operating capability for en route, terminal, and approach navigation on March 2, 2011.

Products

Garmin has achieved a leading market position and a history of growth in revenues and profits by offering ergonomically designed, user-friendly products with innovative features and designs covering a broad range of applications and price points. Garmin’s target markets are currently broken down into its five main business segments – automotive/mobile, outdoor, fitness, marine and aviation.

Research and Development

Garmin’s product innovations are driven by its strong emphasis on research and development and the close partnership between Garmin’s engineering and manufacturing teams. Garmin’s products are created by its engineering and development staff. Garmin’s manufacturing staff includes manufacturing process engineers who work closely with Garmin’s design engineers to ensure manufacturability and manufacturing cost control for its products. Garmin’s development staff includes industrial designers, as well as software engineers, electrical engineers, mechanical engineers and cartographic engineers. Garmin believes the industrial design of its products has played an important role in Garmin’s success. Once a development project is initiated and approved, a multi-disciplinary team is created to design the product and transition it into manufacturing.

Manufacturing and Operations

Garmin believes that one of its core competencies and strengths is its manufacturing capability at its Sijhih, Jhongli and LinKou, Taiwan facilities, its Olathe, Kansas facility, and its Salem, Oregon facility. Garmin believes that its vertically integrated approach has provided it the following benefits with respect to all products other than a few select marine products (VHF radios and AIS receivers), and our accessory products, all of which are also manufactured by one or more third parties.

Reduced time-to-market. Utilizing concurrent engineering techniques, Garmin’s products are introduced to production at an early development stage and the feedback provided by manufacturing is incorporated into the design before mass production begins. In this manner, Garmin attempts to reduce the time required to move a product from its design phase to mass production deliveries.

Design and process optimization. Garmin uses its manufacturing resources to rapidly prototype design concepts, products and processes in order to achieve higher efficiency, improved quality and yields, lower cost and better value for customers. Garmin’s ability to fully explore product design and manufacturing process concepts has enabled it to optimize its designs to minimize size and weight in GPS devices that are functional, waterproof, and rugged.

Logistical agility. Operating our own manufacturing and distribution facilities helps Garmin minimize problems, such as component shortages and long component lead times which are common in the electronics industry. Many products can be re-engineered to bypass component shortages or reduce cost and the new designs can be delivered to market quickly. Garmin reacts rapidly to changes in market demand by striving to maintain a safety stock of long-lead components and by rescheduling components from one product line to another. Operating our own manufacturing facilities also allows Garmin to quickly adjust the mix of product production, helping to foster faster delivery response to the customer.

Garmin’s design, manufacturing, distribution, and servicing processes in our US, Taiwan, and UK facilities are certified to ISO 9001, an international quality standard developed by the International Organization for Standardization. Garmin’s automotive operations in Taiwan and Olathe have also achieved TS 16949 certification, a quality standard for automotive suppliers. In addition, Garmin’s aviation operations have achieved certification to AS9100, the quality standard for the aviation industry.

Garmin International, Inc., Garmin (Europe) Ltd and Garmin Corporation have also achieved certification of their environmental management systems to the ISO14001 standard. This certification recognizes that Garmin’s subsidiaries have systems and processes in place to minimize or prevent harmful effects on the environment and to strive continually to improve its environmental performance.

Competition

The market for navigation, communications and information products is highly competitive. Garmin believes the principal competitive factors impacting the market for its products are design, functionality, quality and reliability, customer service, brand, price, time-to-market and availability. Garmin believes that it generally competes favorably in each of these areas.

Garmin believes that its principal competitors for portable automotive products are TomTom N.V. and MiTAC Digital Corporation (“MiTAC”) (which distributes products under the brand names of Magellan, Mio, and Navman). Garmin believes that its principal competitors for outdoor product lines are Magellan, a subsidiary of MiTAC, Lowrance Electronics, Inc., a subsidiary of Navico (“Lowrance”) and Delorme. Garmin believes that its principal competitors for fitness products are Nike, Inc., Polar Electro Oy, Suunto Oy, Timex Corp., and Bryton Corp. For marine chartplotter products, Garmin believes that its principal competitors are Raymarine Inc. (“Raymarine”), Furuno Electronic Company (“Furuno”), and Simrad and Lowrance (subsidiaries of Navico). For Garmin’s fishfinder/depth sounder product lines, Garmin believes that its principal competitors are Lowrance, Raymarine, the Humminbird division of Johnson Outdoors, Inc., and Furuno. For Garmin’s general aviation product lines, Garmin considers its principal competitors to be Honeywell, Inc., Avidyne Corporation, CMC Electronics,L-3 Avionics Systems, Rockwell Collins, Inc., Sagem Avionics, Inc., Universal Avionics Systems Corporation, Chelton Flight Systems, Aspen Avionics, Dynon Avionics and Free Flight Systems. For Garmin’s Family Radio Service and General Mobile Radio Service product line, Garmin believes that its principal competitors are Motorola Solutions, Inc., Cobra Electronics Corporation and Midland Radio Corporation.



   Company Address: Mühlentalstrasse 2 Schaffhausen 8200
   Company Phone Number: 630 1600   Stock Exchange / Ticker: NYSE GRMN
   


Customers Net Income grew by GRMN's Customers Net Profit Margin grew to

31.35 %

8.82 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
CVU        0.79% 
DCO      0% 
NN   -19.96%    
APTV   -1.62%    
HON   -1.19%    
MSI   -0.11%    
• View Complete Report
   



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Light up your run with the Garmin Forerunner 165 Series, easy-to-use GPS running smartwatches with vibrant AMOLED displaysGarmin, the renowned brand in GPS technology, has introduced the Forerunner 165 Series, a range of affordable and user-friendly GPS running smartwatches. These cutting-edge devices come equipped with vibrant AMOLED displays, providing a visually appealing...

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Garmin's New Heart Rate Monitor for Women Highlights Revenue Growth, but Increased Costs Pose Challenges

Published Mon, Jan 8 2024 12:03 PM UTC

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Published Thu, Dec 7 2023 12:02 PM UTC



Garmin, a renowned technology company, made an exciting announcement today: the launch of their latest innovation, the Tacx NEO 3M. This cutting-edge indoor smart trainer combines powerful features with multidirectional movement, providing cyclists with their most realistic indoor ride yet. The new direct-drive trainer utilizes exclusive Tacx technology, making it ...

Garmin Ltd

Garmin Ltd Reports Impressive 11.937% Revenue Growth in Q3 2023, Demonstrating Industry Success

Garmin Ltd, the Aerospace & Defense company, recently reported strong financial performance in the third quarter of 2023. The company achieved double-digit revenue and earnings growth during this period, showcasing its success in the industry.
In terms of revenue, Garmin saw a year-on-year increase of 11.937% to $1.28 billion. However, there was a decrease of -3.348% in revenue compared to the previous quarter. Despite the slight dip in quarterly revenue, Garmin outperformed its industry peers, which only saw 8.84% revenue growth in the same period.






 

Garmin Ltd's Segments
 
Outdoor
 Segment     of total Revenue
Fitness
 Segment     of total Revenue
Marine
 Segment     of total Revenue
Auto and Mobile
 Segment     of total Revenue
Aviation
 Segment     of total Revenue
 
• View Complete Report
  Company Estimates  
  Revenue Outlook
Garmin Ltd announced annual revenue outlook on

Earnings Outlook
Garmin Ltd issued annual earnings guidance on

 
Geographic Revenue Dispersion
Americas
APAC
EMEA




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