Zacks Investment Research·1d ago
Can Garmin (GRMN) Run Higher on Rising Earnings Estimates?Garmin (GRMN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Garmin's gross margin has expanded 600 basis points from 57.3% in 2024Q2 to 63.3% in 2026Q3, and operating margin has climbed 810 basis points to 30.8%, suggesting premium mix and expense discipline are driving a structural profitability shift even as revenue growth decelerates from a 24.1% peak to 12.2%.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue grew 12.2% year over year to $2.0B in 2026Q3 while gross margin reached 63.3% and operating margin hit 30.8%, an 810 basis point expansion from 22.7% in 2024Q2, though growth has decelerated sharply from the 24.1% peak in 2024Q3.
Morgan Stanley expects Garmin to compound earnings per share at more than 7% through 2028, with a bull case valuation of $332.
Garmin continues to launch advanced products like the GARMIN SIGNAL™ marine radios with AIS and touchscreen displays, showcasing technological leadership.
Garmin offers a wide range of GPS-enabled devices including smartwatches, fitness trackers, and navigation systems, catering to various active lifestyles.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | $2.76+14.5% vs $2.41 | $2.0B-0.1% vs $2.0B |
Q3 2026 Jul 29, 2026 | $2.81+22.2% vs $2.30 | $2.0B+5.0% vs $1.9B |
Q2 2026 Apr 29, 2026 | $2.08+13.0% vs $1.84 | $1.8B+1.7% vs $1.7B |
Q1 2026 Feb 18, 2026 | $2.79+16.3% vs $2.40 | $2.1B+5.3% vs $2.0B |
Garmin (GRMN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Investors interested in stocks from the Electronics - Miscellaneous Products sector have probably already heard of Daikin Industries (DKILY) and Garmin (GRMN). But which of these two stocks is more attractive to value investors?
Microsoft was the largest contributor, with its shares up 37.8% for the quarter. KLA and Applied Materials were the largest detractors, falling 35.3% and 29.2%. On a relative basis, three of the largest detractors were companies we did not own: NVIDIA, Apple, and Meta, which rose 14.3%, 15.2%, and 28.8%. We made one change to the portfolio during the quarter, purchasing Garmin and selling Verisk, and rebalanced outliers back to approximately equal weights during the same trade window.
Dedicated dive computer helps divers of all experience levels easily access key data and simplifies gear rentals OLATHE, Kan., Nov. 3, 2026 /PRNewswire/ -- Garmin (NYSE: GRMN) today announced Descent ™ X10 , its newest dive computer that provides divers with critical dive information at a glance.
Benchmark GRMN against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Garmin Ltd. (GRMN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $285.57 | $55.07B | 33.24 | 15.06% | 22.96% | 19.78% | 1.2% | |
| $7.81 | $461.58M | -5.39 | -12.28% | -7.09% | -82.2% | — | |
| $16.41 | $1.94B | -32.18 | -4.93% | -2.54% | -9.55% | — | |
| $0.90 | $154.23M | -1.53 | -18.71% | -28.52% | -529.55% | — | |
| $40.26 | $2.24B | 103.23 | 5.85% | 5.58% | 3.72% | 2.08% | |
| $342.37 | $5.03T | 45.89 | 6.43% | 27.6% | 127.61% | 0.3% |
Garmin Ltd. (GRMN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Garmin Ltd. (GRMN) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Jul 29, 2026·SEC
Jun 8, 2026·SEC
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Garmin Ltd. (GRMN) stock FAQ — growth, dividends, profitability & financials explained
Garmin Ltd. (GRMN) reported $7.89B in revenue over the trailing twelve months. Revenue was $7.25B in fiscal year 2025. That is 3015% more than the $232.6M of fiscal year 1999.
Garmin Ltd. (GRMN) grew revenue by 15.1% in fiscal year 2025, compared with the prior fiscal year.
Yes. Garmin Ltd. (GRMN) earned $2.02B in net income over the trailing twelve months (a 25.6% net margin).
Yes. Garmin Ltd. (GRMN) pays a dividend that yields 1.20% at the current price, a moderate yield.
Garmin Ltd. (GRMN) had a return on equity (ROE) of 19.8% in fiscal year 2025. That is above the market's typical 10-15%.
Garmin Ltd. (GRMN) generated $1.40B in free cash flow over the trailing twelve months.
