Gentex Corporation (GNTX)

Operating 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
Operating income (ttm)	US$ in thousands	495,731	457,075	421,450	379,952	370,007	363,848	365,221	379,355	409,783	484,238	534,926	428,263	399,556	348,043	337,326	471,969	488,538	503,136	502,428	501,206
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
Operating profit margin		21.56%	20.74%	19.87%	18.98%	19.28%	19.72%	20.86%	22.11%	23.67%	26.30%	27.92%	24.93%	23.68%	21.73%	21.02%	25.60%	26.28%	26.93%	27.15%	21.87%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $495,731K ÷ $2,299,214K
= 21.56%

The operating profit margin of Gentex Corp. has shown fluctuations over the past eight quarters, ranging from 18.98% to 22.11%. In general, the company has maintained a relatively stable operating profit margin, with the highest margin recorded in Q1 2022 at 22.11% and the lowest margin recorded in Q1 2023 at 18.98%.

The trend indicates a slight decrease in the operating profit margin from Q1 2022 to Q1 2023, suggesting potential challenges or cost pressures during that period. However, it is important to note that the margins have generally remained above 19%, indicating that the company has effectively managed its operating expenses relative to its revenues.

Further analysis into the factors influencing these fluctuations, such as changes in revenue, operating expenses, or efficiency improvements, would provide more insight into Gentex Corp.'s financial performance and operational effectiveness.