Revenue growth recovered to 17.1% in 2026Q1, while the company maintained a consistent gross margin profile of approximately 34% over the last ten quarters.
| 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 % | 14.48% | 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 | 1.73B | 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 | 903.6M | 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 % | 34.32% | 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 | 413.5M | 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 | 197.73M | 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 | 208.99M | 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 | 1000K | 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 | 490.1M | 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 % | 18.61% | 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 | 594.29M | 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 % | 22.57% | 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 % | 10.13% | 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) | 104.19M | 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 | 475.32M | 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 | -24.62M | -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 | 465.48M | 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 % | 17.68% | 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 | 77.25M | 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 % | 16.6% | 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 | 388.42M | 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 % | 14.75% | 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 % | -0.69% | -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) | 388.23M | 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 | 3.02M | 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) | 1.81 | 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 % | 5.33% | -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 | 214.03M | 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 | 214.03M | 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% | - | - | - | - | - | - | - |
Automotive production volume sensitivity
As reported in recent financial filings, Gentex achieved a 17.1% revenue growth rate in 2026Q1, reflecting a recovery from the 2.3% contraction observed in 2025Q1, though the volatility in quarterly year-over-year figures suggests that top-line performance remains heavily tethered to fluctuating global light vehicle production schedules.
The recent acceleration in revenue suggests that the company is successfully navigating supply chain normalization and increasing its dollar content per vehicle through Full Display Mirror adoption. However, investors should monitor whether this growth is sustainable or merely a recovery from previous production bottlenecks, as the company remains highly sensitive to OEM build rates.
Based on the provided income statement data, Gentex maintains a robust gross margin profile, consistently hovering around 34% over the last ten quarters, which highlights the company's significant pricing power and the specialized nature of its electrochromic technology compared to traditional automotive interior suppliers.
This margin stability appears to be a direct result of the company's vertical integration and proprietary manufacturing processes, which insulate it from the commoditization pressures seen in the broader auto parts industry. The ability to sustain these levels despite inflationary pressures suggests a durable competitive moat that warrants a premium valuation relative to peers.
According to the latest quarterly data, Gentex's operating income reached $127.2 million in 2026Q1, demonstrating that the company is effectively scaling its operating expenses, as SG&A costs have remained relatively contained despite the recent expansion in top-line revenue and overall business activity.
The company's ability to keep SG&A growth in check while scaling revenue suggests strong operational discipline and a scalable cost structure. This operating leverage is a key indicator of management's focus on maintaining profitability even during periods of fluctuating demand, which may provide a buffer against future cyclical downturns.
Based on the provided figures, Gentex's net income has shown notable volatility, with 2025Q3 net income of $101.0 million contrasting with the $86.0 million reported in 2024Q2, largely influenced by fluctuations in non-operating items and the absence of stock-based compensation in the most recent quarter.
The absence of stock-based compensation in 2026Q1 is a positive signal for earnings quality, as it suggests that reported EPS is not being artificially inflated by equity-based dilution. However, investors should remain cautious of the impact that interest income from the company's significant cash reserves may have on net margins, as this is independent of core automotive operations.
While Gentex demonstrates strong profitability, the potential for margin compression remains a significant risk, as evidenced by the dip to 32.5% gross margin in 2024Q4, which may indicate that the company is not entirely immune to the cyclical pressures and input cost volatility inherent in the automotive sector.
Short-term investors should monitor whether the recent margin recovery is sustainable or if it is vulnerable to a potential slowdown in EV adoption, which could reduce the demand for high-value digital vision systems. The reliance on a single end-market remains a structural concern that could lead to rapid earnings volatility if global light vehicle production forecasts are revised downward.
Quick answers to the most common questions about buying GNTX stock.
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.
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%.
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.
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.