Gentex Corporation (GNTX)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	2,313,315	2,360,809	2,328,131	2,338,678	2,299,214	2,203,730	2,121,519	2,001,469	1,918,959	1,845,152	1,751,114	1,715,696	1,731,170	1,841,193	1,916,033	1,717,654	1,687,591	1,601,563	1,604,885	1,843,970
Property, plant and equipment	US$ in thousands	728,481	703,583	679,487	664,789	652,878	606,181	596,694	575,276	550,033	526,681	488,914	468,409	464,122	451,812	458,944	460,593	468,135	474,019	485,315	493,115
Fixed asset turnover		3.18	3.36	3.43	3.52	3.52	3.64	3.56	3.48	3.49	3.50	3.58	3.66	3.73	4.08	4.17	3.73	3.60	3.38	3.31	3.74

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,313,315K ÷ $728,481K
= 3.18

The fixed asset turnover ratio measures how efficiently a company uses its fixed assets to generate sales. A higher fixed asset turnover ratio generally indicates that the company is generating more revenue per dollar of fixed assets.

Based on the data provided for Gentex Corporation, the fixed asset turnover ratio has fluctuated over the periods from March 31, 2020, to December 31, 2024. The ratio ranged from a low of 3.18 in December 31, 2024, to a high of 4.17 in June 30, 2021.

Overall, Gentex Corporation has maintained a relatively stable fixed asset turnover ratio, with the ratio hovering between 3.18 and 4.17 over the period analyzed. This consistency suggests that Gentex has been effectively utilizing its fixed assets to generate sales revenue. However, the slight fluctuations in the ratio over time may warrant further investigation into the company's asset management efficiency and operational performance.