Gentex Corporation (GNTX)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 2,312,520 | 2,065,790 | 1,937,990 | 1,963,940 | 1,938,090 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,312,520K)
= 0.00
The debt-to-capital ratio of Gentex Corp. has consistently been at 0.00 for the past five years, indicating that the company has not utilized any debt to finance its operations relative to its total capital structure. This suggests that Gentex Corp. has been primarily reliant on equity financing to fund its business activities during this period. A debt-to-capital ratio of 0.00 typically signifies a conservative approach to capital structure, where the company may prefer to minimize financial leverage and associated risks. Investors and stakeholders may view this as a positive sign of financial stability and prudence in managing the company's capital structure.
Peer comparison
Dec 31, 2023