--- title: "佳明股票的未來走勢如何？" description: "佳明（NYSE: GRMN）最近報告了強勁的第二季度業績，收入同比增長 20%，達到 18.1 億美元，調整後的每股收益為 2.17 美元，這促使其上調全年指引。儘管這些結果積極，佳明的股價因獲利了結和技術疲軟而下跌約 5%，此前自四月以來股價已上漲近 30%。分析師對下半年可能出現的放緩表示謹慎，佳明的估值相較於更廣泛的市場似乎也顯得偏高。歷史上，儘管基本面穩健，佳明的股票在市場下跌時表現出脆弱" type: "news" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/251164113.md" published_at: "2025-08-01T10:17:31.000Z" --- # 佳明股票的未來走勢如何？ > 佳明（NYSE: GRMN）最近報告了強勁的第二季度業績，收入同比增長 20%，達到 18.1 億美元，調整後的每股收益為 2.17 美元，這促使其上調全年指引。儘管這些結果積極，佳明的股價因獲利了結和技術疲軟而下跌約 5%，此前自四月以來股價已上漲近 30%。分析師對下半年可能出現的放緩表示謹慎，佳明的估值相較於更廣泛的市場似乎也顯得偏高。歷史上，儘管基本面穩健，佳明的股票在市場下跌時表現出脆弱性 p ByTrefis Team Share Save Comment Money Markets What’s Next For Garmin Stock? ByTrefis Team , Contributor. Forbes contributors publish independent expert analyses and insights. Building a platform to do the job of 1 million analysts for Great Speculations Follow Author Aug 01, 2025, 06:00am EDT Share Save Comment CHONGQING, CHINA - JULY 28: In this photo illustration, a smartphone held in a hand displays the logo of Garmin Ltd. (NYSE: GRMN), a multinational technology company known for its GPS navigation and wearable technology products, in front of a screen showing the company's latest stock market chart on July 28, 2025 in Chongqing, China. (Photo illustration by Cheng Xin/Getty Images) Getty Images Garmin (NYSE: GRMN) has regained attention, although not for the reasons that investors might have anticipated. The GPS technology firm recently announced a significant Q2 earnings beat and elevated its full-year guidance; however, its stock has declined by approximately 5% in the past week. What’s the reason for this? In a nutshell: it’s not about the business—it’s the technical indicators. Having surged nearly 30% since April, Garmin moved into overbought territory, leading traders to secure their profits. Adding to the concerns about a potential slowdown in the second half of the year, the sentiment took a downturn even with solid fundamentals. Nevertheless, if you are looking for potential gains with a smoother experience than investing in a single stock, consider the High Quality portfolio , which has outperformed the S&P and achieved over 91% returns since its inception. Garmin designs and markets GPS-enabled hardware and software across five primary sectors: fitness, outdoor activities, aviation, marine, and automotive OEM. Its advantage is derived from dominating premium niches, particularly high-performance wearables, where it competes less on volume and more on brand loyalty, durability, and integrated technology. Q2 Earnings: Strong, But Not Enough? Garmin reported strong Q2 FY2025 figures: revenue increased by 20% year-over-year to $1.81 billion, and adjusted EPS reached $2.17—both surpassing Wall Street predictions. Management also upgraded its full-year forecast, projecting $7.1 billion in revenue and $8.00 in EPS. So why did the stock decline following the announcement? Profit-taking and technical fatigue appear to be the main reasons. After a steep multi-month increase, Garmin moved into overbought territory, laying the groundwork for a pullback. Some analysts, including those at Barclays, have also pointed out that there could be potential deceleration in the second half, keeping cautious ratings despite the company’s optimistic outlook. Valuation: A Bit Stretched From a valuation perspective, Garmin is trading at a premium compared to the broader market. Its P/E ratio stands at 27.3 compared to 22.8 for the S&P 500. The P/S ratio is at 6.6, whereas the S&P's is 3.1, and its price-to-free cash flow ratio is 35.0 compared to 20.3. In summary, although the company is performing well, much of the good news may already be reflected in the stock price. MORE FOR YOU Strong Financials Support the Long-Term Case Garmin’s fundamentals are solid. Over the past three years, it has recorded an 8.7% compound annual growth rate in revenue. In the most recent 12-month period, revenue grew by 18.1% to reach $6.5 billion. Its operating and net margins—25.2% and 22.8%, respectively—significantly exceed S&P 500 averages. Moreover, Garmin’s financial stability is impressive, with a 27.3% cash-to-assets ratio and an extremely low debt-to-equity ratio of just 0.3%. This financial discipline provides resilience and flexibility in facing uncertain macroeconomic conditions. Downturn Resilience: A Historical Weak Spot Although Garmin’s financials are undeniably robust, its stock has historically faced challenges during significant market downturns. In the aftermath of the 2022 inflation shock, GRMN shares plummeted by 56%, which is more than double the S&P 500’s 25.4% decline. During the COVID-19 crash in 2020, the stock fell 38.6%, again surpassing the broader market’s 33.9% drop. Furthermore, during the 2008 financial crisis, Garmin experienced a staggering 87.7% retreat, which was far worse than the S&P’s 56.8% decline. These instances highlight the stock’s susceptibility to sentiment-driven sell-offs—even when its underlying business remains robust. A Smarter Way to Play the Market Garmin fulfills the criteria for growth, profitability, and financial health. However, following a significant surge, the short-term outlook appears less attractive. The recent decline does not indicate weaknesses in the business; it is more a reassessment of inflated valuations and elevated expectations. In the long term, Garmin continues to be a high-quality name. Investing in an individual stock can entail risks. The Trefis Reinforced Value (RV) Portfolio , which has outperformed its all-cap stocks benchmark (a combination of the S&P 500, S&P mid-cap, and Russell 2000 benchmark indices) to deliver strong returns for investors. What accounts for that? The quarterly rebalanced mix of large-, mid-, and small-cap RV Portfolio stocks offered a responsive approach to capitalize on favorable market conditions while mitigating losses when markets decline, as explained in RV Portfolio performance metrics . Editorial Standards Reprints & Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video ### Related Stocks - [GRMN.US - 佳明](https://longbridge.com/zh-HK/quote/GRMN.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Garmin Stock: Analyst Estimates & Ratings | Garmin Stock: Analyst Estimates & Ratings | [Link](https://longbridge.com/zh-HK/news/276134035.md) | | Garmin Announces the Garmin Catalyst 2 | Garmin has launched the Garmin Catalyst 2, a motorsports device designed to enhance performance for high-speed drivers. | [Link](https://longbridge.com/zh-HK/news/276132927.md) | | Short Interest in Garmin Ltd. (NYSE:GRMN) Increases By 33.2% | Garmin Ltd. 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