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 $57.3B against $28.4B — 2.0× the size. Teledyne Technologies Incorporated trades at the lower P/E: 29.7× against 30.2×. Garmin Ltd. grew revenue faster over the last twelve months: 13.5% against 7.87%. Garmin Ltd. has the higher net margin (24.5% vs 15.3%) and the higher return on invested capital (20.8% vs 6.15%). Across the 22 metrics below, Garmin Ltd. leads on 12 and Teledyne Technologies Incorporated on 10.

Valuation

Metric GRMN TDY Scientific & Technical Instruments median
P/E 30.17 29.65 35.93
P/S 7.39 4.46 4.46
P/B 6.28 2.60 3.00
Price to free cash flow 35.54 24.90 24.96
EV/EBITDA 23.39 19.04 19.60
EV/Sales 7.05 4.73 4.98
Earnings yield 3.31% 3.37% 0.53%
Free cash flow yield 2.81% 4.02% 1.12%

Profitability

Metric GRMN TDY Scientific & Technical Instruments median
Gross margin 60.08% 43.34% 45.75%
Operating margin 27.61% 19.45% 7.34%
Net margin 24.47% 15.29% 1.56%
Free cash flow margin 20.85% 17.92% 5.84%
Return on equity 21.89% 9.16% 2.87%
Return on assets 17.26% 6.41% 0.99%
Return on invested capital 20.81% 6.15% 3.88%

Growth

Metric GRMN TDY Scientific & Technical Instruments median
Revenue growth (TTM) 13.51% 7.87% 11.28%
EPS growth (last fiscal year) 17.67% 9.70% —
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 0.19 0.00
Current ratio 3.03 2.18 2.24
Net debt to EBITDA (1.33) 1.43 0.44

Dividend

Metric GRMN TDY Scientific & Technical Instruments median
Dividend yield 2.42% — 0.72%
Payout ratio 0.56 0.00 0.00

Size

Metric GRMN TDY Scientific & Technical Instruments median
Market cap 57.28b 28.37b 483.67m

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