Gentex Corporation (GNTX)

Pretax 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	504,981	464,536	426,218	382,422	369,722	363,640	367,373	384,380	416,352	492,490	545,492	439,805	411,813	359,945	348,628	482,783	500,416	517,551	516,506	515,196
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
Pretax margin		21.96%	21.08%	20.09%	19.11%	19.27%	19.71%	20.98%	22.40%	24.05%	26.75%	28.47%	25.60%	24.40%	22.47%	21.72%	26.18%	26.92%	27.70%	27.91%	22.48%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $504,981K ÷ $2,299,214K
= 21.96%

The pretax margin of Gentex Corp. has demonstrated variability over the past eight quarters. It peaked at 22.40% in the first quarter of 2022 and experienced a downward trend until the first quarter of 2023 where it hit its lowest point at 19.11%. However, it rebounded in the following quarters, reaching 21.96% in the fourth quarter of 2023. This indicates that the company's ability to generate profits before taxes has fluctuated but showed signs of improvement in recent quarters. Further analysis of the company's financial performance and operational efficiency would be necessary to assess the drivers behind these fluctuations and to determine the sustainability of the upward trend observed in the most recent quarters.