GRMN's Fitness, Outdoor and Marine products are going to be the key growth drivers for Garmin in the upcoming quarters.
Garmin (GRMN 2.13%) reported its fourth-quarter and full-year 2024 earnings on February 19, 2025, delivering exceptional results across all business segments. The navigation and wearables technology company posted record revenue and substantial margin expansion.
Market volatility has picked up in recent weeks, leading to sharp declines in numerous high-flying stocks. Even some of the market's strongest names, including Palantir, Applovin, and established giants like Amazon and Alphabet, have faced considerable selling pressure.
If you're looking for an attractive growth stock in this expensive market, consider Garmin (GRMN 0.39%) for your next purchase. Sure, the tech giant's shares have rallied since early 2023, and the stock's valuation is near a 10-year high.
PAX, PFIS and GRMN made it to the Zacks Rank #1 (Strong Buy) income stocks list on February 26, 2025.
GRMN, LNVGY and HLF made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on February 26, 2025.
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Evaluate Garmin's (GRMN) reliance on international revenue to better understand the company's financial stability, growth prospects and potential stock price performance.
Garmin (GRMN -0.96%) has been riding a wave of success in recent years. Once thought of only as a provider of navigation devices, the company now has a loyal following of fitness-oriented consumers, athletes, outdoor enthusiasts, and professionals in the aviation and marine sectors.
Garmin's NYSE: GRMN Q4 results and 2025 guidance sent its shares to new highs because of broad-based strength centered in consumer products. Its fitness and outdoor segments led with high double-digit growth driven by demand for wearables across categories.
Garmin reported record revenue of $1.82B, a 40% EPS increase, and a 20% dividend hike, driven by strong product diversification and innovation. Competition in Fitness, persistent losses in Auto OEM, and soft demand in Marine pose potential headwinds, alongside geopolitical risks in Taiwan. The stock has surged 108.56% since November 2023, trading above historical valuation metrics, making it less attractive at current levels.
GRMN's fourth-quarter 2024 results reflect solid momentum across Outdoor, Fitness, Aviation, Marine and Auto OEM segments.