Is Garmin Ltd. overvalued or undervalued?

As of 12 September 2025, the valuation grade for Garmin Ltd. moved from attractive to very attractive, indicating a positive shift in its perceived value. The company appears to be undervalued, supported by a P/E ratio of 28, an EV to EBITDA ratio of 21.25, and a PEG ratio of 3.81. In comparison to peers, Garmin's P/E ratio of 30.27 is lower than Apple, Inc.'s 35.56, which is deemed expensive, while Motorola Solutions, Inc. is rated fair with a P/E of 38.31.
Garmin's recent stock performance has outpaced the S&P 500, with a one-year return of 39.67% compared to the S&P 500's 17.14%. This strong performance, combined with its attractive valuation ratios, reinforces the conclusion that Garmin Ltd. is currently undervalued in the market.