Stock Analysis Report

Executive Summary

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide.

Snowflake Analysis

Flawless balance sheet established dividend payer.

Similar Companies

Share Price & News

How has Gentex's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: GNTX's share price has been volatile over the past 3 months.

Market Performance

7 Day Return




US Auto Components


US Market

1 Year Return




US Auto Components


US Market

Return vs Industry: GNTX exceeded the US Auto Components industry which returned -48.5% over the past year.

Return vs Market: GNTX exceeded the US Market which returned -14.9% over the past year.

Shareholder returns

7 Day12.9%2.1%2.4%
30 Day-5.2%-25.4%-11.0%
90 Day-21.6%-42.5%-19.4%
1 Year11.9%9.9%-43.4%-44.3%-8.1%-10.0%
3 Year23.2%16.2%-41.4%-47.4%17.3%9.6%
5 Year44.1%30.4%-38.4%-47.4%36.1%21.1%

Price Volatility Vs. Market

How volatile is Gentex's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Gentex undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: GNTX ($21.01) is trading below our estimate of fair value ($28.73)

Significantly Below Fair Value: GNTX is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: GNTX is poor value based on its PE Ratio (12.6x) compared to the Auto Components industry average (11x).

PE vs Market: GNTX is poor value based on its PE Ratio (12.6x) compared to the US market (12.5x).

Price to Earnings Growth Ratio

PEG Ratio: GNTX is poor value based on its PEG Ratio (4x)

Price to Book Ratio

PB vs Industry: GNTX is overvalued based on its PB Ratio (2.7x) compared to the US Auto Components industry average (0.7x).

Next Steps

Future Growth

How is Gentex forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GNTX's forecast earnings growth (3.1% per year) is above the savings rate (1.7%).

Earnings vs Market: GNTX's earnings (3.1% per year) are forecast to grow slower than the US market (12.2% per year).

High Growth Earnings: GNTX's earnings are forecast to grow, but not significantly.

Revenue vs Market: GNTX's revenue (4.1% per year) is forecast to grow slower than the US market (7.1% per year).

High Growth Revenue: GNTX's revenue (4.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GNTX's Return on Equity is forecast to be high in 3 years time (21.6%)

Next Steps

Past Performance

How has Gentex performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GNTX has high quality earnings.

Growing Profit Margin: GNTX's current net profit margins (22.6%) are lower than last year (23.9%).

Past Earnings Growth Analysis

Earnings Trend: GNTX's earnings have grown by 9.3% per year over the past 5 years.

Accelerating Growth: GNTX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: GNTX had negative earnings growth (-4.2%) over the past year, making it difficult to compare to the Auto Components industry average (-4.2%).

Return on Equity

High ROE: GNTX's Return on Equity (21.9%) is considered high.

Next Steps

Financial Health

How is Gentex's financial position?

Financial Position Analysis

Short Term Liabilities: GNTX's short term assets ($950.4M) exceed its short term liabilities ($171.8M).

Long Term Liabilities: GNTX's short term assets ($950.4M) exceed its long term liabilities ($58.9M).

Debt to Equity History and Analysis

Debt Level: GNTX is debt free.

Reducing Debt: GNTX has no debt compared to 5 years ago when its debt to equity ratio was 17%.

Debt Coverage: GNTX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: GNTX has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Next Steps


What is Gentex's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: GNTX's dividend (2.28%) is higher than the bottom 25% of dividend payers in the US market (2.04%).

High Dividend: GNTX's dividend (2.28%) is low compared to the top 25% of dividend payers in the US market (5.7%).

Stability and Growth of Payments

Stable Dividend: GNTX's dividends per share have been stable in the past 10 years.

Growing Dividend: GNTX's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.6%), GNTX's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: GNTX's dividends in 3 years are forecast to be well covered by earnings (23.6% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Steve Downing (41yo)





Mr. Steven R. Downing, also known as Steve, has been the Chief Executive Officer at Gentex Corp. since January 2018 and has been its President since August 2017. He served as Interim Chief Financial Office ...

CEO Compensation Analysis

Compensation vs Market: Steve's total compensation ($USD3.43M) is below average for companies of similar size in the US market ($USD7.63M).

Compensation vs Earnings: Steve's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

Leadership Team

Steven Downing
President2.25yrsUS$3.43m0.055% $3.2m
Kevin Nash
VP of Finance2.17yrsUS$990.24k0.013% $760.1k
Neil Boehm
CTO & VP of Engineering2.17yrsUS$958.01k0.013% $747.9k
Scott Ryan
VP, General Counsel & Corporate Secretary1.67yrsUS$926.75k0.012% $705.2k
Matthew Chiodo
Vice President of Sales & Executive Officer3.25yrsUS$955.23k0.013% $769.9k
Fred Bauer
Founder2.25yrsUS$1.68mno data
Paul Flynn
Vice President of Operations8.25yrsUS$322.84kno data
Josh O'Berski
Director of Investor Relationsno datano datano data
Joseph Matthews
VP of Purchasing & Diversity Officer5.83yrsUS$335.91k0.013% $723.7k


Average Tenure


Average Age

Experienced Management: GNTX's management team is considered experienced (2.3 years average tenure).

Board Members

Fred Bauer
Founder2.25yrsUS$1.68mno data
Brian Walker
Independent Director1.42yrsUS$27.70k0.0018% $101.2k
John Mulder
Independent Director28.25yrsUS$117.45k0.030% $1.7m
Frederick Sotok
Independent Director20.25yrsUS$124.95k0.013% $738.1k
Richard Schaum
Independent Director9.25yrsUS$133.70k0.0053% $308.1k
Gary Goode
Independent Director17.25yrsUS$148.70k0.0081% $469.3k
James Wallace
Independent Chairman & Lead Independent Director2.25yrsUS$209.95k0.0087% $501.7k
Kathleen Starkoff
Independent Director1.5yrsUS$40.84k0.0022% $124.3k
Leslie Brown
Independent Director4.25yrsUS$121.53k0.0029% $170.5k
James Hollars
Independent Director6.25yrsUS$117.45k0.015% $867.6k


Average Tenure


Average Age

Experienced Board: GNTX's board of directors are considered experienced (5.3 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: GNTX insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Gentex Corporation's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Gentex Corporation
  • Ticker: GNTX
  • Exchange: NasdaqGS
  • Founded: 1974
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: US$5.780b
  • Shares outstanding: 246.80m
  • Website:

Number of Employees


  • Gentex Corporation
  • 600 North Centennial Street
  • Zeeland
  • Michigan
  • 49464
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GNTXNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1981
GTXDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1981
GTXBRSE (Berne Stock Exchange)YesCommon StockCHCHFDec 1981


Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It operates through Automotive Products and Other segments. The company designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers. It also manufactures and sells variable dimmable windows to aircraft manufacturers and airline operators. In addition, the company provides photoelectric smoke detectors and alarms, electrochemical carbon monoxide detectors and alarms, audible and visual signaling alarms, and bells and speakers used in fire detection systems in office buildings, hotels, and other commercial and residential establishments. It sells its fire protection products directly, as well as through sales managers and manufacturer representative organizations to fire protection and security product distributors, electrical wholesale houses, and original equipment manufacturers of fire protection systems. Gentex Corporation was founded in 1974 and is headquartered in Zeeland, Michigan. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/08 00:23
End of Day Share Price2020/04/07 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.