Gentex Corporation (GNTX)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Debt-to-capital 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 |
| Debt-to-equity 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 |
| Financial leverage ratio | 1.13 | 1.13 | 1.13 | 1.15 | 1.13 | 1.14 | 1.15 | 1.13 | 1.10 | 1.12 | 1.13 | 1.14 | 1.12 | 1.16 | 1.15 | 1.18 | 1.12 | 1.13 | 1.13 | 1.13 |
Gentex Corp. has consistently maintained a very strong solvency position, as evidenced by its debt-related ratios. The debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio have all been reported as 0.00 across all quarters analyzed, indicating that the company has no debt on its balance sheet relative to its total assets, capital structure, and equity. This signifies that Gentex Corp. relies primarily on equity financing rather than debt to support its operations and growth.
Additionally, the financial leverage ratio has been relatively stable around 1.13 to 1.15 over the quarters, with only minimal fluctuations. This indicates that the company's capital structure is adequately balanced between debt and equity, with a slight increase in leverage observed in Q1 2023. Overall, the consistent low levels of debt and stable financial leverage ratio suggest that Gentex Corp. is robustly solvent and likely has a strong ability to meet its financial obligations in the long term.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | — | 20.89 | 9.47 | 5.52 | 3.84 | 5.08 | 7.44 | 15.36 | — | — | 2,674.63 | 856.53 | 665.93 | 580.07 | 843.32 | 4,719.69 | — | — | 5,024.28 | 1,253.02 |
I'm sorry, but the table provided does not contain any specific data on Gentex Corp.'s interest coverage ratio for the mentioned quarters. Without this information, a detailed analysis of the interest coverage ratio for Gentex Corp. cannot be performed. In order to analyze the interest coverage ratio, we would need figures for both the earnings before interest and taxes (EBIT) and the interest expenses for each respective quarter. It is important to monitor the interest coverage ratio over time to assess the company's ability to meet its interest obligations.