Gentex Corporation (GNTX)

Interest coverage

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before interest and tax (EBIT)	US$ in thousands	495,731	370,006	409,782	399,556	488,538
Interest expense	US$ in thousands	—	-96,285	105,682	600	116,581
Interest coverage		—	—	3.88	665.93	4.19

December 31, 2023 calculation

Interest coverage = EBIT ÷ Interest expense
= $495,731K ÷ $—K
= —

As the interest coverage ratio data for Gentex Corp. is not provided in the table for the years 2019 to 2023, we are unable to analyze the company's ability to meet its interest obligations using this specific ratio. The interest coverage ratio is a key financial metric that indicates a company's ability to cover its interest expenses with its operating income. A higher ratio generally reflects a healthier financial position, as it suggests that the company is generating sufficient earnings to cover its interest payments. Conversely, a lower ratio may indicate potential financial distress, as it may signify a higher risk of default on debt obligations. It is essential to monitor the interest coverage ratio over time to assess the company's financial health and ability to service its debt. In this case, without the specific data, we are unable to provide a detailed analysis of Gentex Corp.'s interest coverage for the specified years.