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Garmin Ltd. (GRMN) vs Teledyne Technologies Incorporated (TDY)

Garmin Ltd. and Teledyne Technologies Incorporated are both Scientific & Technical Instruments companies. Garmin Ltd. is the larger, with a market value of $55.2B against $27.2B — 2.0× the size. Garmin Ltd. trades at the lower P/E: 27.2× against 28.2×. Garmin Ltd. grew revenue faster over the last twelve months: 13.6% against 8.57%. Garmin Ltd. has the higher net margin (25.6% vs 15.8%) and the higher return on invested capital (19.7% vs 6.47%). Across the 22 metrics below, Garmin Ltd. leads on 14 and Teledyne Technologies Incorporated on 8.

Valuation

Metric GRMN TDY Scientific & Technical Instruments median
P/E 27.24 28.21 28.21
P/S 6.97 4.38 4.46
P/B 5.76 2.57 3.10
Price to free cash flow 37.55 24.90 24.15
EV/EBITDA 21.33 18.25 18.28
EV/Sales 6.68 4.61 4.64
Earnings yield 3.67% 3.54% 0.68%
Free cash flow yield 2.66% 4.02% 1.98%

Profitability

Metric GRMN TDY Scientific & Technical Instruments median
Gross margin 61.12% 43.60% 47.24%
Operating margin 28.82% 20.00% 8.96%
Net margin 25.58% 15.75% 1.92%
Free cash flow margin 18.61% 17.60% 10.59%
Return on equity 22.38% 9.47% 2.66%
Return on assets 17.92% 6.64% 1.12%
Return on invested capital 19.70% 6.47% 4.79%

Growth

Metric GRMN TDY Scientific & Technical Instruments median
Revenue growth (TTM) 13.59% 8.57% 9.26%
EPS growth (last fiscal year) 17.67% 9.70% 13.24%
Revenue growth, 5-year CAGR 11.59% 14.66% 7.89%
Net income growth, 5-year CAGR 10.89% 17.36% 0.00%

Health

Metric GRMN TDY Scientific & Technical Instruments median
Debt to equity 0.00 0.18 0.00
Current ratio 3.05 2.31 2.30
Net debt to EBITDA (1.33) 1.43 0.45

Dividend

Metric GRMN TDY Scientific & Technical Instruments median
Dividend yield 1.37% — 0.62%
Payout ratio 0.37 — 0.22

Size

Metric GRMN TDY Scientific & Technical Instruments median
Market cap 55.19b 27.24b 549.07m

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