Research Report on Garmin, Ltd
Garmin Ltd. (Garmin) is a provider of navigation, communications and information devices, most of which are enabled by global positioning system (GPS) technology. The Company 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. Garmin operates in four segments: Marine, Automotive/Mobile, Outdoor/Fitness and Aviation. In January 2007, Garmin acquired Digital Cyclone, Inc. and EME TecSat SAS. In July 2007, Garmin completed the acquisition of GPS Gesellschaft fur Professionelle Satellitennavigation mbH, the exclusive distributor of Garmin's consumer products in Germany. GPS Gesellschaft fur Professionelle Satellitennavigation mbH will be renamed as Garmin Deutschland GmbH. In January 2008, the Company completed the acquisition of Fairpoint Navigation A/S, the distributor of Garmin's automotive, outdoor recreation, fitness and marine products in Denmark.
| Garmin Fundamentals |
| Year |
Revenue |
Net Income |
EPS |
P/E Average |
Share Price |
Net Margin |
Return on Equity |
| 2000 |
345.7 |
105.7 |
0.53 |
18.8 |
9.964 |
30.56% |
28.93% |
| 2001 |
369.1 |
113.5 |
0.53 |
19 |
10.07 |
30.74% |
27.70% |
| 2002 |
465.1 |
142.8 |
0.66 |
16.3 |
10.758 |
30.70% |
27.03% |
| 2003 |
573.0 |
178.6 |
0.82 |
25.2 |
20.664 |
31.18% |
26.42% |
| 2004 |
762.6 |
205.7 |
0.95 |
23.2 |
22.04 |
26.98% |
24.41% |
| 2005 |
1027.8 |
311.2 |
1.43 |
18.7 |
26.741 |
30.28% |
29.74% |
| 2006 |
1774.0 |
514.1 |
2.35 |
18.9 |
44.415 |
28.98% |
37.87% |
