Gentex Corporation (GNTX)

Total 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
Total assets	US$ in thousands	2,760,820	2,735,300	2,738,280	2,713,220	2,611,440	2,558,320	2,487,110	2,433,350	2,327,230	2,311,320	2,284,450	2,180,380	2,131,390	2,116,430	2,166,800	2,242,450	2,197,940	2,192,480	2,101,040	2,158,100
Total asset turnover		0.84	0.86	0.85	0.86	0.88	0.86	0.85	0.82	0.82	0.80	0.77	0.79	0.81	0.87	0.88	0.77	0.77	0.73	0.76	0.85

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,313,315K ÷ $2,760,820K
= 0.84

Total asset turnover is a financial ratio that measures a company's ability to generate sales revenue from its assets. A higher total asset turnover indicates that a company is more efficient in utilizing its assets to generate revenue.

In the case of Gentex Corporation, the total asset turnover has fluctuated over the given periods, ranging from 0.73 to 0.88. The lowest total asset turnover was recorded on September 30, 2020, at 0.73, indicating that the company generated $0.73 in revenue for every $1 of assets it possessed. On the other hand, the highest total asset turnover was observed on June 30, 2021, and December 31, 2023, at 0.88, suggesting that the company became more efficient in utilizing its assets to generate revenue during those periods.

Overall, Gentex Corporation's total asset turnover hovers around the range of 0.73 to 0.88, indicating varying levels of efficiency in converting assets into sales revenue over the analyzed periods. Further analysis of the company's operations and industry comparisons may provide additional insights into its asset utilization efficiency.