Gentex Corporation (GNTX)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,313,310 | 2,299,220 | 1,918,960 | 1,731,170 | 1,688,190 |
| Total assets | US$ in thousands | 2,760,820 | 2,611,440 | 2,327,230 | 2,131,390 | 2,197,940 |
| Total asset turnover | 0.84 | 0.88 | 0.82 | 0.81 | 0.77 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,313,310K ÷ $2,760,820K
= 0.84
Total asset turnover for Gentex Corporation has shown a slight increase over the past five years, from 0.77 in December 31, 2020 to 0.84 in December 31, 2024. This indicates that the company is generating more revenue relative to its total assets invested. The increase suggests improved efficiency in utilizing its assets to generate sales. However, there was a dip in the ratio to 0.81 in December 31, 2021 before climbing back up. Overall, Gentex Corporation's total asset turnover trend indicates a positive trajectory in utilizing its assets effectively to generate sales and improve business performance over the years.
Peer comparison
Dec 31, 2024