Gentex Corporation (GNTX)

Interest coverage

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
Earnings before interest and tax (EBIT) (ttm) US$ in thousands 459,726 502,732 499,421 511,826 495,731 457,075 421,450 379,952 370,007 363,848 365,221 379,355 409,783 484,238 534,926 428,263 399,556 348,043 337,326 471,969
Interest expense (ttm) US$ in thousands 0 2,744 2,744 2,744 5,488 27,363 49,970 74,328 96,285 71,666 49,059 24,701 0 0 200 500 600 600 400 100
Interest coverage — 183.21 182.00 186.53 90.33 16.70 8.43 5.11 3.84 5.08 7.44 15.36 — — 2,674.63 856.53 665.93 580.07 843.32 4,719.69

December 31, 2024 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $459,726K ÷ $0K
= —

The interest coverage ratio measures a company's ability to meet its interest payments on outstanding debt. Gentex Corporation's interest coverage ratio has fluctuated over the period analyzed.

- In March 2020, Gentex Corporation had a very strong interest coverage ratio of 4,719.69, indicating a significant buffer to cover its interest expenses.
- The ratio decreased to 843.32 in June 2020, signaling a reduction in the company's ability to cover interest payments.
- By September 2020, the interest coverage ratio further declined to 580.07, showing a continued decrease in the company's ability to meet its interest obligations.
- However, the ratio improved to 856.53 in March 2021, indicating a temporary recovery in Gentex Corporation's ability to service its debt.
- Subsequently, in June 2021, the interest coverage ratio significantly increased to 2,674.63, suggesting a strong improvement in the company's ability to cover interest payments.
- In the following quarters, the data for September 2021 and December 2021 is not available.
- Gentex Corporation's interest coverage ratio sharply dropped to 15.36 in March 2022, indicating a substantial decrease in its capacity to meet interest expenses.
- The ratio further decreased to 7.44 in June 2022, reflecting ongoing challenges in covering interest payments.
- Over the next four quarters, the interest coverage ratio remained relatively low, ranging from 3.84 to 16.70, indicating fluctuations in the company's ability to cover its interest obligations.
- In the most recent data available for December 2024, the interest coverage ratio is not provided, making it difficult to assess the company's current ability to meet interest payments.

Overall, Gentex Corporation's interest coverage ratio has shown variability over time, highlighting the importance of monitoring its ability to service debt obligations.