Why You're Smart to Buy This Growing Cash Cow
Many stock analysts draw a distinctive line between growth stocks and income stocks. It's not common that a company can have a high growth rate while already in a position to generate enough free cash to continue investing in the business and returning a large amount of capital to shareholders.
But GPS-enabled device maker Garmin (NASDAQ: GRMN) has been doing just that. Revenue grew 25% in the first quarter of 2021 thanks to heightened interest in outdoor recreation spurred by the pandemic. But the company has also had five straight years of growing revenue and operating income, including double-digit revenue growth in 2020.
Garmin's products are used in a wide range of outdoor activities. Image source: Garmin.
Source Fool.com
