Gentex Corporation (GNTX)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	762,630	713,095	668,855	624,139	609,814	599,891	593,590	596,820	619,708	692,472	739,809	632,157	605,444	550,574	542,658	675,251	688,309	698,548	691,217	687,483
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
Gross profit margin		33.17%	32.36%	31.53%	31.18%	31.78%	32.51%	33.90%	34.79%	35.80%	37.61%	38.61%	36.80%	35.88%	34.38%	33.81%	36.62%	37.03%	37.39%	37.35%	29.99%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $762,630K ÷ $2,299,214K
= 33.17%

The gross profit margin of Gentex Corp. has displayed fluctuations over the past eight quarters. In Q4 2023, the gross profit margin was recorded at 33.17%, showing a slight increase compared to the previous quarter. However, a downward trend can be observed since Q2 2022, where a peak of 34.79% was achieved. Despite this, the margins have remained relatively stable within the range of 31-34%. It is important to monitor the underlying factors impacting the cost of sales and revenue generation to further understand the trends in Gentex Corp.'s gross profit margin.