Gentex Corporation (GNTX) Income Statement

30Y historyFree accessUpdated daily

Revenue growth stabilized at -1.0% in 2026Q2, but gross margin expanded to 37.0% from 34.2% a year earlier, driving a 19.2% year-over-year increase in operating income and a 25.6% EPS growth.

Annual statement

GNTX Income Statement

Gentex Corporation (GNTX) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Sales/Revenue	2.63B	2.53B	2.31B	2.3B	1.92B	1.73B	1.69B	1.86B	1.83B	1.79B	1.68B	1.54B	1.38B	1.17B	1.1B	1.02B	816.26M	544.52M	623.8M	653.93M	572.27M	536.48M	505.67M	469.02M	395.26M	310.3M	297.42M	262.2M	222.3M	186.3M	148.7M
Revenue Growth %	10.13%	9.55%	0.61%	19.82%	10.85%	2.55%	-9.18%	1.35%	2.18%	6.91%	8.77%	12.22%	17.38%	6.58%	7.4%	25.42%	49.9%	-12.71%	-4.61%	14.27%	6.67%	6.09%	7.81%	18.66%	27.38%	4.33%	13.43%	17.95%	19.32%	25.29%	33.24%
Cost of Goods Sold	1.71B	1.67B	1.54B	1.54B	1.31B	1.11B	1.08B	1.17B	1.14B	1.1B	1.01B	939.84M	836.61M	741.13M	726.74M	662.18M	520.57M	366.97M	420.67M	426.24M	373.16M	337.84M	297.92M	272.52M	235.61M	188.3M	160.33M	138.4M	123.8M	111.9M	89.1M
COGS % of Revenue	-	65.8%	66.67%	66.83%	68.22%	64.2%	64.14%	62.97%	62.35%	61.3%	60.19%	60.89%	60.82%	63.24%	66.09%	64.68%	63.78%	67.39%	67.44%	65.18%	65.21%	62.97%	58.92%	58.1%	59.61%	60.68%	53.91%	52.78%	55.69%	60.06%	59.92%
Gross Profit	919.31M	866.71M	771.09M	762.63M	609.81M	619.71M	605.44M	688.31M	690.47M	694.53M	668.45M	603.78M	538.89M	430.73M	372.82M	361.58M	295.69M	177.55M	203.13M	227.7M	199.1M	198.64M	207.75M	196.5M	159.65M	122M	137.1M	123.8M	98.5M	74.4M	59.6M
Gross Margin %	35%	34.2%	33.33%	33.17%	31.78%	35.8%	35.86%	37.03%	37.65%	38.7%	39.81%	39.11%	39.18%	36.76%	33.91%	35.32%	36.22%	32.61%	32.56%	34.82%	34.79%	37.03%	41.08%	41.9%	40.39%	39.32%	46.09%	47.22%	44.31%	39.94%	40.08%
Gross Profit Growth %	-	12.4%	1.11%	25.06%	-1.6%	2.36%	-12.04%	-0.31%	-0.58%	3.9%	10.71%	12.04%	25.11%	15.53%	3.11%	22.28%	66.53%	-12.59%	-10.79%	14.36%	0.23%	-4.38%	5.72%	23.08%	30.85%	-11.01%	10.74%	25.69%	32.39%	24.83%	26%
Operating Expenses	406.39M	381.13M	311.36M	266.9M	239.81M	209.93M	205.89M	199.77M	182.34M	171.17M	156.71M	145.01M	140.06M	125.99M	133.36M	130.21M	104.72M	82.94M	110.93M	88.88M	72.66M	62.35M	57.68M	49.93M	44.45M	39.94M	46.68M	38.3M	31.2M	26.9M	23.7M
OpEx % of Revenue	-	15.04%	13.46%	11.61%	12.5%	12.13%	12.2%	10.75%	9.94%	9.54%	9.33%	9.39%	10.18%	10.75%	12.13%	12.72%	12.83%	15.23%	17.78%	13.59%	12.7%	11.62%	11.41%	10.64%	11.25%	12.87%	15.7%	14.61%	14.04%	14.44%	15.94%
Selling, General & Admin	199.25M	177.87M	121.02M	112.54M	106.5M	92.16M	89.95M	85.08M	75.21M	71.44M	62.47M	56.62M	55.88M	49.5M	48.36M	48.58M	40.62M	35.81M	42.43M	35.28M	30.88M	27.29M	26.85M	23.31M	21.47M	19.26M	17.64M	14.1M	12.1M	10.8M	11.7M
SG&A % of Revenue	-	7.02%	5.23%	4.89%	5.55%	5.32%	5.33%	4.58%	4.1%	3.98%	3.72%	3.67%	4.06%	4.22%	4.4%	4.75%	4.98%	6.58%	6.8%	5.4%	5.4%	5.09%	5.31%	4.97%	5.43%	6.21%	5.93%	5.38%	5.44%	5.8%	7.87%
Research & Development	206.78M	203.26M	181.48M	154.36M	133.31M	117.76M	115.94M	114.69M	107.13M	99.73M	94.24M	88.39M	84.18M	76.5M	85M	81.63M	64.1M	47.13M	51.89M	50.72M	41.77M	35.06M	30.83M	26.61M	22.97M	20.68M	16.9M	13.8M	11M	9.1M	7.5M
R&D % of Revenue	-	8.02%	7.84%	6.71%	6.95%	6.8%	6.87%	6.17%	5.84%	5.56%	5.61%	5.73%	6.12%	6.53%	7.73%	7.97%	7.85%	8.65%	8.32%	7.76%	7.3%	6.54%	6.1%	5.67%	5.81%	6.67%	5.68%	5.26%	4.95%	4.88%	5.04%
Other Operating Expenses	362.87K	0	8.86M	0	0	0	0	0	0	0	-1.18M	0	0	0	0	0	0	0	0	2.89M	0	0	0	0	0	0	12.14M	10.4M	8.1M	7M	4.5M
Operating Income	512.92M	485.58M	459.73M	495.73M	370.01M	409.78M	399.56M	488.54M	508.13M	523.36M	511.74M	458.77M	398.83M	304.74M	234.46M	231.37M	190.97M	94.62M	108.81M	138.82M	126.45M	136.29M	150.07M	146.58M	115.2M	82.06M	90.41M	85.5M	67.3M	47.5M	35.8M
Operating Margin %	19.53%	19.16%	19.87%	21.56%	19.28%	23.67%	23.67%	26.28%	27.7%	29.16%	30.48%	29.72%	29%	26%	21.32%	22.6%	23.4%	17.38%	17.44%	21.23%	22.1%	25.41%	29.68%	31.25%	29.15%	26.44%	30.4%	32.61%	30.27%	25.5%	24.08%
Operating Income Growth %	-	5.62%	-7.26%	33.98%	-9.71%	2.56%	-18.21%	-3.85%	-2.91%	2.27%	11.55%	15.03%	30.88%	29.98%	1.33%	21.15%	101.83%	-13.04%	-21.61%	9.78%	-7.23%	-9.18%	2.38%	27.24%	40.39%	-9.24%	5.74%	27.04%	41.68%	32.68%	43.2%
EBITDA	615.39M	590.66M	554.44M	589.05M	466.57M	508.89M	504.3M	593.24M	610.31M	622.93M	600.33M	539.37M	476.21M	367.6M	284.64M	274M	229.59M	132.98M	144.7M	171.25M	154.21M	160.12M	171.81M	168.12M	134.91M	98.19M	102.55M	95.9M	75.4M	54.5M	40.3M
EBITDA Margin %	23.43%	23.31%	23.97%	25.62%	24.31%	29.4%	29.87%	31.91%	33.28%	34.71%	35.76%	34.94%	34.62%	31.37%	25.89%	26.76%	28.13%	24.42%	23.2%	26.19%	26.95%	29.85%	33.98%	35.84%	34.13%	31.64%	34.48%	36.58%	33.92%	29.25%	27.1%
EBITDA Growth %	12.57%	6.53%	-5.88%	26.25%	-8.32%	0.91%	-14.99%	-2.8%	-2.03%	3.76%	11.3%	13.26%	29.55%	29.15%	3.88%	19.34%	72.65%	-8.1%	-15.5%	11.05%	-3.69%	-6.8%	2.19%	24.61%	37.4%	-4.25%	6.94%	27.19%	38.35%	35.24%	41.4%
D&A (Non-Cash Add-back)	102.47M	105.08M	94.71M	93.32M	96.57M	99.11M	104.74M	104.7M	102.19M	99.57M	88.59M	80.6M	77.38M	62.85M	50.18M	42.63M	38.62M	38.36M	35.89M	32.44M	27.76M	23.82M	21.74M	21.54M	19.71M	16.13M	12.14M	10.4M	8.1M	7M	4.5M
EBIT	491.71M	461.06M	468.59M	504.98M	369.72M	416.35M	399.56M	488.54M	508.13M	523.36M	511.74M	458.77M	398.83M	304.74M	239.46M	231.37M	190.97M	94.62M	108.81M	138.82M	126.45M	136.29M	150.07M	146.58M	115.2M	82.06M	90.41M	85.5M	67.3M	47.5M	35.8M
Net Interest Income	2.74M	0	13.4M	13.5M	4.8M	3.59M	6.39M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income	2.74M	0	13.4M	13.5M	4.8M	3.59M	6.99M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	600K	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-26.08M	-24.52M	12.49M	9.25M	-283.05K	6.57M	12.26M	11.88M	13.92M	8.44M	-1.18M	4.83M	16.49M	23.32M	15.17M	13.06M	12.47M	1.73M	-16.62M	40.92M	32.53M	23.6M	15.67M	11.59M	11.87M	14.56M	14.11M	10.8M	7.4M	4.7M	-300K
Pretax Income	486.84M	461.06M	472.21M	504.98M	369.72M	416.35M	411.81M	500.42M	522.05M	531.8M	510.56M	463.59M	415.33M	328.06M	249.63M	244.43M	203.44M	96.35M	92.19M	179.74M	158.97M	159.89M	165.73M	158.16M	127.07M	96.62M	104.52M	96.3M	74.7M	52.2M	35.5M
Pretax Margin %	18.54%	18.19%	20.41%	21.96%	19.27%	24.05%	24.39%	26.92%	28.46%	29.63%	30.41%	30.03%	30.19%	28%	22.7%	23.88%	24.92%	17.69%	14.78%	27.49%	27.78%	29.8%	32.78%	33.72%	32.15%	31.14%	35.14%	36.73%	33.6%	28.02%	23.87%
Income Tax	80.08M	76.38M	67.73M	76.58M	50.97M	55.55M	64.25M	75.73M	84.16M	125M	162.97M	145.12M	126.72M	105.13M	81.04M	79.76M	65.71M	31.72M	30.11M	57.61M	50.21M	50.37M	53.08M	51.4M	41.3M	31.4M	33.98M	31.4M	24.4M	17M	11.5M
Effective Tax Rate %	16.45%	16.57%	14.34%	15.16%	13.78%	13.34%	15.6%	15.13%	16.12%	23.51%	31.92%	31.3%	30.51%	32.05%	32.46%	32.63%	32.3%	32.92%	32.66%	32.05%	31.59%	31.5%	32.03%	32.5%	32.5%	32.5%	32.51%	32.61%	32.66%	32.57%	32.39%
Net Income	407.07M	384.84M	404.49M	428.4M	318.76M	360.8M	347.56M	424.68M	437.88M	406.79M	347.59M	318.47M	288.6M	222.93M	168.59M	164.67M	137.73M	64.64M	62.09M	122.13M	108.76M	109.53M	112.66M	106.76M	85.77M	65.22M	70.54M	64.9M	50.3M	35.2M	24M
Net Margin %	15.5%	15.19%	17.49%	18.63%	16.61%	20.84%	20.59%	22.85%	23.88%	22.66%	20.7%	20.63%	20.98%	19.02%	15.33%	16.08%	16.87%	11.87%	9.95%	18.68%	19.01%	20.42%	22.28%	22.76%	21.7%	21.02%	23.72%	24.75%	22.63%	18.89%	16.14%
Net Income Growth %	1.48%	-4.86%	-5.58%	34.4%	-11.65%	3.81%	-18.16%	-3.01%	7.64%	17.03%	9.14%	10.35%	29.46%	32.23%	2.38%	19.56%	113.09%	4.11%	-49.16%	12.29%	-0.7%	-2.78%	5.52%	24.47%	31.52%	-7.55%	8.7%	29.03%	42.9%	46.67%	26.98%
Net Income (Continuing)	406.76M	384.68M	404.49M	428.4M	318.76M	360.8M	347.56M	424.68M	437.88M	406.79M	347.59M	318.47M	288.6M	222.93M	168.59M	164.67M	137.73M	64.64M	62.09M	122.13M	108.76M	109.53M	112.66M	106.76M	85.77M	65.22M	70.54M	64.9M	50.3M	35.2M	24M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	2.83M	3.1M	4.15M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	1.92	1.74	1.76	1.84	1.36	1.50	1.41	1.66	1.62	1.41	1.19	1.08	0.98	0.78	0.59	0.57	0.49	0.24	0.22	0.43	0.37	0.35	0.36	0.34	0.28	0.22	0.23	0.22	0.17	0.12	0.08
EPS Growth %	8%	-1.14%	-4.35%	35.29%	-9.33%	6.38%	-15.06%	2.47%	14.89%	18.49%	10.19%	10.2%	25.64%	32.2%	3.51%	16.33%	104.17%	9.09%	-48.84%	16.22%	5.71%	-2.78%	5.88%	21.43%	27.27%	-4.35%	4.55%	29.41%	41.67%	43.2%	19.71%
EPS (Basic)	-	1.74	1.77	1.84	1.36	1.51	1.41	1.67	1.64	1.42	1.21	1.09	0.99	0.78	0.59	0.58	0.50	0.24	0.22	0.43	0.37	0.35	0.37	0.35	0.28	0.22	0.24	0.22	0.18	0.13	0.09
Diluted Shares Outstanding	212.39M	219.5M	226.02M	229.72M	231.22M	236.6M	243.68M	253.27M	269.88M	288.23M	291.07M	296.24M	294.3M	288.55M	287.94M	288.55M	281.47M	275.29M	282.01M	288.14M	297.98M	312.94M	312.93M	311.71M	306.33M	303.33M	303.42M	301.86M	295.88M	287.35M	286.57M
Basic Shares Outstanding	212.39M	219.5M	225.71M	229.41M	230.83M	235.53M	242.6M	251.77M	267.79M	285.86M	288.43M	293.1M	290.95M	286.92M	286.2M	284.99M	278.71M	274.46M	281.8M	286.11M	293.95M	312.94M	308.65M	307.23M	300.95M	299.85M	297.03M	291.69M	287.43M	276.08M	274.29M
Dividend Payout Ratio	-	27.77%	27.3%	26.18%	35.48%	31.95%	33.72%	27.39%	26.62%	26.75%	29.09%	30.46%	30.36%	35.51%	43.53%	40.79%	44.57%	93.75%	97.38%	45.79%	50.3%	49.1%	-	10.78%	-	-	-	-	-	-	-

Key Metrics

Growth RegimeStable

ProfitabilityStrong

Balance SheetFortress

Cash FlowRobust

Top Statement Risk

FDM adoption and LVP cyclicality

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Revenue Growth Stabilizing on Mix Shift

Revenue growth has moderated to -1.0% in 2026Q2, but Full Display Mirror adoption appears to support dollar content per vehicle, as per recent financial statements.

After a strong 17.1% growth in 2026Q1, revenue dipped slightly to $651.3M in 2026Q2, reflecting typical quarterly volatility. The underlying trend suggests a deceleration from the 19.0% peak in 2025Q4, but the mix shift toward higher-content mirrors may provide a structural tailwind. Investors should monitor whether FDM penetration can offset any softening in global light vehicle production.

Gross Margin Expansion Signals Pricing Power

Gross margin improved to 37.0% in 2026Q2, up from 34.2% a year earlier, indicating sustained pricing power and cost discipline, as reported in quarterly filings.

The 280 basis point year-over-year expansion in gross margin to 37.0% is notable, especially given the slight revenue decline. This suggests that the company is benefiting from a favorable product mix and possibly lower input costs. The structural gross margin of ~34% historically appears to be trending upward, which may reflect the increasing contribution of Full Display Mirrors and other higher-margin products.

Operating Leverage Emerging from Cost Control

Operating income grew 19.2% year-over-year in 2026Q2, outpacing revenue growth, as SG&A remained flat, demonstrating operating leverage, based on reported figures.

Operating margin expanded to 21.7% in 2026Q2 from 18.0% in the prior-year quarter, driven by a 19.2% increase in operating income on flat revenue. SG&A expenses were essentially unchanged at $50.0M, indicating that the company is scaling efficiently without proportional overhead growth. This suggests that the high fixed-cost base is being leveraged effectively as volumes recover.

Earnings Quality Supported by Low SBC

Net income rose 19.5% year-over-year in 2026Q2, with stock-based compensation at $9.7M, representing only 8.5% of net income, indicating high earnings quality.

The earnings beat in 2026Q2 was driven by operational performance rather than one-time items, as SBC remained modest at $9.7M. The effective tax rate appears stable, and there are no obvious non-operating distortions. This suggests that reported EPS of $0.54 is of high quality and likely repeatable if revenue holds.

R&D Investment Steady Amid Margin Gains

R&D spending declined to $49.3M in 2026Q2, down from $51.5M a year earlier, while gross margin expanded, indicating disciplined cost management, as per financial statements.

The reduction in R&D as a percentage of revenue to 7.6% from 7.8% suggests that the company is maintaining innovation while controlling costs. SG&A also remained flat, contributing to the margin expansion. This cost discipline appears to be a deliberate strategy to protect profitability during periods of revenue volatility.

Cyclicality and FDM Adoption Risks

Despite strong margins, revenue growth has decelerated to -1.0% in 2026Q2, and the lack of forward guidance raises concerns about sustainability, as noted in recent earnings commentary.

The most significant risk to the income statement narrative is the potential for a downturn in global light vehicle production, which would directly impact revenue given the company's high fixed-cost structure. Additionally, the transition to Full Display Mirrors, while beneficial for ASPs, may face adoption hurdles if OEMs delay launches. The absence of forward guidance in Q2 2026 adds uncertainty, and investors should monitor whether the recent margin expansion is sustainable if volumes decline.

GNTX — Frequently Asked Questions

Quick answers to the most common questions about buying GNTX stock.

What was Gentex Corporation's (GNTX) revenue in 2025?

For fiscal year 2025, Gentex Corporation (GNTX) reported total revenue of $2.53B. This represents a 1604.3% increase compared to $148.7M in 1996.

Is Gentex Corporation (GNTX) profitable?

Gentex Corporation (GNTX) is profitable, generating $384.8M in net income for the fiscal year ending 2025 with a net profit margin of 15.2%.

What is Gentex Corporation's operating profit margin?

Gentex Corporation (GNTX) reported an operating income of $485.6M, resulting in an operating profit margin of 19.2%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Gentex Corporation's gross profit and gross margin?

Gentex Corporation (GNTX) generated $866.7M in gross profit for the year, representing a gross profit margin of 34.2%. This demonstrates the company's core pricing power and production efficiency.