Gentex Corporation (GNTX)

Current ratio

		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
Total current assets	US$ in thousands	997,738	1,055,450	1,025,310	1,005,040	948,652	989,323	991,887	955,531	872,976	874,707	924,576	1,010,520	979,331	975,319	859,327	910,727	950,377	987,495	930,403	886,396
Total current liabilities	US$ in thousands	271,609	274,406	276,062	297,031	250,553	265,165	286,172	239,223	181,656	192,442	196,397	223,230	177,737	236,489	217,631	263,958	171,847	182,304	177,561	184,494
Current ratio		3.67	3.85	3.71	3.38	3.79	3.73	3.47	3.99	4.81	4.55	4.71	4.53	5.51	4.12	3.95	3.45	5.53	5.42	5.24	4.80

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $997,738K ÷ $271,609K
= 3.67

The current ratio measures a company's ability to cover its short-term liabilities with its short-term assets. Gentex Corp.'s current ratio has fluctuated over the past eight quarters, ranging from 3.38 to 3.99.

In Q4 2023, the current ratio is 3.67, indicating that the company has $3.67 in current assets for every $1 in current liabilities. This suggests that Gentex Corp. is able to comfortably meet its short-term obligations.

The trend in the current ratio shows that Gentex Corp. has maintained a relatively strong position in terms of liquidity over the past two years. Despite some fluctuations, the company has consistently had a current ratio above 3.0, indicating a healthy financial position in terms of short-term liquidity.

Overall, the current ratio analysis suggests that Gentex Corp. has a solid ability to cover its current liabilities with its current assets, providing a buffer against financial distress in the short term.