Garmin Ltd. designs, develops, manufactures, markets, and distributes a diverse range of GPS-enabled products and navigation, communications, sensor-based, and information products and services worldwide. It offers running; cycling products; smartwatch devices; scales and monitors; and sports timing and performance analysis; Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, …
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Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 58.7% (top 19%) and operating margin at 25.9% (top 0%) indicate strong pricing power.
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.73), demonstrating pricing resilience across cycles.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Where GRMN ranks in Scientific & Technical Instruments
Garmin Ltd. ranks #1 of 34
scored companies in Scientific & Technical Instruments by moat score — the top 3%.
That makes it the widest moat in the group.
Moat scores for companies ranked near GRMN in Scientific & Technical Instruments
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 93
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 87
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 90
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 76
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 77
· 15% of the moat score
Scale matters only when it converts into economics.
Garmin Ltd. (GRMN) scores 84 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as strong. It ranks #1 of 34 scored companies in Scientific & Technical Instruments, the top 3%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 33 companies in Scientific & Technical Instruments. Its strongest defense is Cost Advantage (93/100) and its weakest is Resilience (76/100).
How does Garmin Ltd. compare with other Scientific & Technical Instruments companies?
Garmin Ltd. ranks #1 of 34 scored companies in Scientific & Technical Instruments by moat score. That is the widest moat in Scientific & Technical Instruments. The companies ranked closest are Ituran Location and Control Ltd (ITRN) at 82 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 33 companies in Scientific & Technical Instruments. The defenses are then weighted to produce the overall score out of 100.
Why is Garmin Ltd. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Garmin Ltd.?
The Corporate Default template measures 6 defenses, and GRMN scores: Pricing Power (84), Cost Advantage (93), Customer Stickiness (87), Capital Efficiency (90), Resilience (76), Scale & Market Position (77). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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