Financial Physics

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%

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