Gentex Corporation (GNTX)

Return on equity (ROE)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	428,403	318,757	360,797	347,564	424,684
Total stockholders’ equity	US$ in thousands	2,312,520	2,065,790	1,937,990	1,963,940	1,938,090
ROE		18.53%	15.43%	18.62%	17.70%	21.91%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $428,403K ÷ $2,312,520K
= 18.53%

Gentex Corp.'s return on equity (ROE) has shown fluctuating trends over the past five years. The ROE increased from 15.19% in 2019 to 21.65% in 2020, indicating improved profitability and efficiency in generating returns for shareholders. However, the ROE then decreased to 17.44% in 2021 before rebounding slightly to 18.33% in 2022. In the latest period, as of December 31, 2023, the ROE stands at 18.25%.

Overall, Gentex Corp.'s ROE performance suggests that the company has been effectively utilizing its equity to generate profits, although there have been fluctuations in recent years. Further analysis of the company's financial and operational performance would be needed to understand the factors influencing these changes in ROE.