Garmin Ltd (GRMN) is undervalued and MKS Inc (MKSI) is undervalued.
Against our estimates of intrinsic value, MKSI trades at the wider discount: a margin of safety of +49%, against +28% for GRMN.
Values as of the 22 Sept 2026 close.
A 9.7x revenue multiple, adjusted for growth and margin, values the shares at $397.96; the price of $284.67 is 28% below that value.
Leak Score 100/100 on 3 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $512.86; the price of $260.37 is 49% below that value.
Leak Score 54/100 on 3 of 12 signals
| Metric | GRMN | MKSI |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $284.67 | $260.37 |
| Intrinsic value | $397.96 | $512.86 |
| Margin of safety | +28% | +49% |
| Leak Score | 100/100 (3/12) | 54/100 (3/12) |
| Market cap | $54.9B | $17.6B |
| Revenue growth, 5 years | 11.6% | 11.0% |
| Operating margin | 27.6% | 16.7% |
| Net margin | 24.5% | 10.1% |
| Return on equity | 21.9% | 15.9% |
| Debt to equity | 0.02 | 1.40 |
| P/E | 29.4x | 41.5x |
| Forward P/E | 25.4x | 14.9x |
| P/B | 6.1x | 5.9x |
| Dividend yield | 1.4% | 0.4% |