Garmin Ltd
SWB:GEY
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Garmin Ltd
SWB:GEY
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Intrinsic Value
Is GEY undervalued or overvalued?
See the intrinsic value estimate for Garmin Ltd and find out whether today’s valuation is cheap or expensive by its own historical standards.
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Fundamental Analysis
What Garmin Does
Garmin makes GPS-enabled devices and software for people who want precise location, navigation, and activity tracking. Its products include smartwatches and fitness wearables, bike computers, handheld outdoor navigators, marine chartplotters, aviation avionics, and built-in navigation systems for vehicles. The company sells mostly physical devices, with some recurring revenue from maps, software updates, subscriptions, and connected services tied to those products.
- Headquarters
- Switzerland CH
- Employees
- 23 000
- IPO date
- Dec 8, 2000
Garmin has a narrow economic moat
Replacing Garmin’s integrated aircraft electronics can require costly installation work and pilot retraining, giving customers a practical reason to stay. Aviation safety approvals also make it expensive and slow for newcomers to offer competing equipment, providing protection that is stronger than in Garmin’s consumer-device markets.
Read the full moat analysis
Revenue & Expenses Breakdown
Garmin Ltd
Earnings Waterfall
Garmin Ltd
The intrinsic value for Garmin Ltd (GEY) under the Base Case is hidden EUR.
Compared with the current market price of 69.5 EUR, the stock appears hidden.