Garmin Ltd (GRMN) is undervalued and Teledyne Technologies Inc (TDY) is undervalued.
Against our estimates of intrinsic value, TDY trades at the wider discount: a margin of safety of +42%, 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 8.0x revenue multiple, adjusted for growth and margin, values the shares at $1063.77; the price of $612.74 is 42% below that value.
Leak Score 76/100 on 10 of 12 signals
| Metric | GRMN | TDY |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $284.67 | $612.74 |
| Intrinsic value | $397.96 | $1063.77 |
| Margin of safety | +28% | +42% |
| Leak Score | 100/100 (3/12) | 76/100 (10/12) |
| Market cap | $54.9B | $28.4B |
| Revenue growth, 5 years | 11.6% | 14.8% |
| Operating margin | 27.6% | 19.4% |
| Net margin | 24.5% | 15.3% |
| Return on equity | 21.9% | 9.2% |
| Debt to equity | 0.02 | 0.19 |
| P/E | 29.4x | 29.6x |
| Forward P/E | 25.4x | 22.9x |
| P/B | 6.1x | 2.6x |
| Dividend yield | 1.4% | — |