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Garmin GRMN

Garmin scores excellent on business quality (8.4 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$268.36Oct 9, 2026
Business qualityExcellent
Next earningsOct 28, 2026
Insiders, 90 daysSelling

Why it matters

  1. What Garmin does

    Garmin makes specialized GPS hardware and software for aviation, marine, automotive, outdoor, and fitness markets. Customers pay upfront for ruggedized devices designed for high-end niche activities.

  2. What it does best

    Garmin dominates specialized navigation with a gross margin of 60%, ranking in the top decile of its sector. This edge comes from proprietary software ecosystems and rugged hardware built for extreme environments, making it difficult for casual consumer electronics brands to replicate.

  3. The main risk

    Intense competition from Apple in health tracking threatens Garmin's wearable sales growth. If Apple captures more fitness market share, Garmin's high-margin outdoor segment takes a direct hit.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin sits at 28% and FCF margin ranks in the top decile of the sector, both expanding as revenue scales efficiently.

MoatStrong

Proprietary software ecosystems lock in pilots, mariners, and athletes who rely on mission-critical reliability. A gross margin in the top decile reflects this pricing power.

GrowthFast

Revenue reached $7.7B with a 15% growth rate, accelerating significantly compared to prior years driven by strong consumer demand across segments.

Financial healthStrong

Zero total debt and $2.7B in cash give the balance sheet absolute strength. Free cash flow reached $1.6B, showing the business is getting fundamentally stronger.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

3 sold $3.6M outside pre-planned sales.

Our sealed record on GRMN

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is GRMN a good business?

Garmin scores excellent on the Cluenex quality check (8.4 of 10), measured against its own industry. Profitability is strong, moat strong, growth fast and financial health strong.

Are insiders buying GRMN?

In the last 90 days of SEC Form 4 filings: 3 sold $3.6M outside pre-planned sales.

When does GRMN report earnings?

Oct 28, 2026.

For members

See GRMN today

  • Today's verdict on GRMN, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Garmin (GRMN)”, https://cluenex.com/stocks/grmn/, data as of Oct 10, 2026.