Gentex Corporation (GNTX)

Debt-to-assets ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Long-term debt US$ in thousands
Total assets US$ in thousands 2,611,440 2,327,230 2,131,390 2,197,940 2,168,800
Debt-to-assets ratio 0.00 0.00 0.00 0.00 0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,611,440K
= 0.00

The debt-to-assets ratio for Gentex Corp. has been consistently at 0.00 across the past five years from 2019 to 2023. A debt-to-assets ratio of 0.00 indicates that the company has no financial debt in its capital structure and that its assets are primarily financed through equity. This suggests that Gentex Corp. has a conservative financial structure with low financial risk associated with debt. The company's ability to operate without relying on debt funding reflects a strong financial position and efficient management of resources. It also implies that the company may have sufficient internal funds or equity financing to support its operations and growth without the need for external borrowing.


Peer comparison

Dec 31, 2023