Here's Why Garmin Is a Cash Flow Machine
Over the last decade, Garmin (NASDAQ: GRMN) has seen its business transition from a primary focus on GPS navigation devices used in automobiles to a diverse mix of products serving end users in the fitness, outdoor, aviation, and marine markets.
That shift helped sales grow 12% in 2019 with higher-margin segments leading the way. Garmin's product lineup has continued to improve through investments in research and development (R&D), along with acquisitions. This has led to both top line growth and steady cash flows. Let's look at the evolution that has transformed Garmin into a reliable cash flow machine.
Fitness devices have helped contribute to Garmin's cash flow. Image source: Getty Images.
Source Fool.com
