Gentex Corporation (GNTX)

Total asset turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	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	1,858,775	1,868,348	1,850,840	2,292,092
Total assets	US$ in thousands	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	2,168,800	2,167,300	2,142,800	2,100,370
Total asset turnover		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	0.86	0.86	0.86	1.09

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,299,214K ÷ $2,611,440K
= 0.88

Total asset turnover is a key financial ratio that measures the company's efficiency in generating sales revenue relative to its total assets. Gentex Corp.'s total asset turnover has been relatively stable over the past eight quarters, ranging from 0.77 to 0.88.

The ratio indicates that for each dollar of total assets, Gentex Corp. generated sales revenue between 0.77 and 0.88 dollars. A higher ratio generally signifies better asset utilization and efficiency in generating sales.

The relatively consistent total asset turnover suggests that Gentex Corp. is effectively utilizing its assets to generate sales revenue. This stability may indicate a consistent operational efficiency in the company's business activities.

However, it is important to compare Gentex Corp.'s total asset turnover with industry benchmarks and historical trends to gain a better understanding of its operational performance and efficiency in utilizing assets effectively.