Gentex Corporation (GNTX)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	US$ in thousands	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	2,168,800	2,167,300	2,142,800	2,100,370
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, 2023 calculation

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

Based on the historical data provided, Gentex Corp. has consistently maintained a debt-to-assets ratio of 0.00 across all the quarters in the period spanning Q1 2022 to Q4 2023.

A debt-to-assets ratio of 0.00 indicates that Gentex Corp. has not utilized any debt to finance its assets during this period. This signifies that the company has relied solely on equity financing to support its operations and investments.

A debt-to-assets ratio of 0.00 is generally viewed positively by investors and creditors as it suggests that the company has a strong financial position with no significant debt burden. However, it is important to note that while low or zero debt levels can be advantageous in terms of financial risk, it may also indicate that the company is not taking advantage of potential tax benefits associated with debt financing.

Overall, Gentex Corp.'s consistent debt-to-assets ratio of 0.00 reflects its conservative approach to capital structure and financial management.