Gentex Corporation (GNTX)
Debt-to-assets ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 2,760,820 | 2,735,300 | 2,738,280 | 2,713,220 | 2,611,440 | 2,558,320 | 2,487,110 | 2,433,350 | 2,327,230 | 2,311,320 | 2,284,450 | 2,180,380 | 2,131,390 | 2,116,430 | 2,166,800 | 2,242,450 | 2,197,940 | 2,192,480 | 2,101,040 | 2,158,100 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,760,820K
= 0.00
The debt-to-assets ratio for Gentex Corporation has consistently remained at 0.00 over the reported periods from March 31, 2020, to December 31, 2024. This indicates that the company has not utilized debt to finance its assets during this time frame. A debt-to-assets ratio of 0.00 suggests that the company's assets are entirely financed by equity, which can be viewed positively as it signifies a lower financial risk and a potential lower interest expense burden. However, it is also important to note that a very low or zero debt-to-assets ratio may limit the company's ability to leverage debt for potential growth opportunities or tax benefits. Overall, Gentex Corporation's consistently low debt-to-assets ratio reflects a conservative capital structure and a strong financial position with minimal financial leverage.
Peer comparison
Dec 31, 2024