NASDAQ: GNTX · Automotive Parts & Equipment
Gentex Corporation
Gentex Corporation, a Michigan company founded in 1974 and based in Zeeland, Michigan, is the world's leading maker of automatic-dimming rearview mirrors, with an approximate 79% worldwide share in 2025 per its 10-K. Its mirrors increasingly carry electronics such as HomeLink garage-door control and the Full Display Mirror camera display. In April 2025 it acquired the rest of VOXX International (it already owned 29%), adding a Premium Audio segment with brands such as Klipsch and Onkyo. 2025 net sales were $2,534 million (Automotive Products $2,256 million, Premium Audio $151 million, Other $127 million) and net income $385 million. Toyota, Volkswagen and General Motors each took 10% or more of sales. The company manufactures primarily in the United States, and the 10-K says tariff and counter-tariff actions cut its export sales into China in 2025.
Last updated
Analysis last edited: November 6, 2026 · Financial data fetched: October 26, 2026 12:50 (SEC EDGAR) · Source 10-K filed: February 24, 2026
Built on10-K FY2025 · filed 2026-02-2410-Q (quarter ended 2026-09-30) · filed 2026-11-06Proxy statement (2026)
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
01
At a glanceFrom SEC data
Eight headline measures, each placed among the companies covered on this site.
- Revenue growthCAGRSmooths out year-to-year swings into "grew X% a year on average." Makes growth pace comparable across companies of very different sizes.
- 8.5%
- Operating marginOperating marginHow many cents of operating profit are left per dollar of revenue. Reflects pricing power and cost structure.
- 18.7%
- ROIC minus WACCROIC − WACC spreadThe difference between ROIC and WACC. Consistently positive implies value creation; consistently negative implies value destruction.
- +7.6 pts
- Net debt ÷ EBITDAEBITDAOperating income with D&A added back. A rough proxy for cash-generating power that’s less distorted by capital intensity, depreciation method, or financing/tax differences than net income.
- -0.3x
- Cash conversionOperating CF ÷ net income (cash conversion)How much of reported profit shows up as actual cash. 1x or higher means profit is backed by cash.
- 1.53x
- Dividend raisesDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year).
- 0 of 5
- P/E todayP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing.
- 10.9x
- Betaβ (beta)How much a stock moves, on average, for a 1% move in the overall market. Above 1 means more volatile than the market, which raises the return shareholders require. This site computes it from about 2.5 years (roughly 130 weeks) of weekly returns, built from Yahoo Finance daily prices, regressed against an S&P 500 ETF (SPY) as the market proxy, then applies the well-known long-run mean-reversion adjustment (0.67 × β + 0.33) as the WACC default.
- 0.66
Higher than 51% of 372 non-financial companies
Average yearly growth over the years shown
Higher than 51% of 311 non-financial companies
Latest fiscal year (FY2025)
Higher than 66% of 311 non-financial companies
Return on capital above (or below) its estimated cost
Higher than 17% of 304 non-financial companies
Below 0 means more cash than debt
Higher than 50% of 349 non-financial companies
Operating cash flow ÷ net income
Years the dividend per share rose, of the last 5
Latest close 2026-11-04; trailing 12 months to 2026-06-30
Above 1 = moves more than the market
Each marker shows where this company sits among the non-financial companies covered on this site, not all listed companies (left = lowest, right = highest). A high position is not automatically good — for net debt ÷ EBITDA, higher means more debt. Details and formulas are in the sections below and in How to read this.
02
Valuation todayFrom SEC data
Price-based measures at the latest close, next to the same measures at the last fiscal year-end.
Share price$20.61close on 2026-11-04
Market cap$4.44B
- P/EP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing. today
- 10.9x
- P/BP/BShare price ÷ book value per share. Below 1x means the market values the company below its accounting net worth. This site uses the closing price nearest the fiscal year-end and highlights sub-1x readings. today
- 1.8x
- EV/EBITDAEV/EBITDAEnterprise value (≈ market cap + interest-bearing debt − cash) as a multiple of EBITDA — roughly, "how many years of EBITDA to buy the whole company." Lower is generally viewed as cheaper, and it’s more comparable than P/E across companies with different debt loads or depreciation policies. This site excludes noncontrolling interests from the EV calculation. today
- 7.4x
- FCF yieldFree cash flow (FCF)Operating CF minus capital expenditures — cash generated by the business after funding its own investment, available for dividends, buybacks, acquisitions, or debt paydown. Acquisitions and securities purchases (also in investing CF) are not subtracted, so FCF can be positive in a year when total investing CF exceeds operating CF. today
- 10.3%
- Dividend yieldDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year). today
- 2.3%
At FY2025 year-end: 13.4x
Earnings: trailing 12 months to 2026-06-30
At FY2025 year-end: 2.0x
Book value at FY2025 year-end
At FY2025 year-end: 8.4x
EBITDA for FY2025
At FY2025 year-end: 9.1%
Free cash flow for FY2025
Dividends per share for FY2025
“Today” uses the latest closing price (2026-11-04, Yahoo Finance daily closing prices) and shares outstanding at the last fiscal year-end. The rest of this page — including the financial table and ROIC vs. WACC — uses fiscal year-end prices. These are reference figures, not a judgment of whether the stock is cheap or expensive.
03
What changed since last earningsFrom SEC data
The latest reported quarter against the same quarter a year earlier, the balance sheet against the previous quarter-end, and what management said in its latest earnings release.
Quarter ended Jun 30, 2026.
- Revenue$658M → $651M (vs. a year earlier)↓ −1.0%$658M → $651M (vs. a year earlier)
- Operating margin18.0% → 21.7% (vs. a year earlier)↑ +3.7 pts18.0% → 21.7% (vs. a year earlier)
- Net income$96M → $115M (vs. a year earlier)↑ +19.4%$96M → $115M (vs. a year earlier)
- Diluted EPS$0.43 → $0.54 (vs. a year earlier)↑ +25.6%$0.43 → $0.54 (vs. a year earlier)
- Cash$165M → $233M (vs. previous quarter-end)↑ +41.7%$165M → $233M (vs. previous quarter-end)
Source: Form 10-Q ↗ (SEC XBRL). Long-term debt is the tagged long-term debt figure and leaves out short-term borrowings.
From the earnings release of Oct 23, 2026.
Key changes
Repurchased 5.7M shares for $132.6M in Q3. Source sentence
Share repurchases: 5.7 million shares repurchased during the quarter for a total of $132.6 million
Gross margin 33.4% versus 34.4%. Source sentence
For the third quarter of 2026, the Company's gross margin was 33.4%, compared to a gross margin of 34.4% for the third quarter of 2025.
Written by AI. A line appears only if its figures and direction match the quoted sentence, which an automatic check confirms. Companies' outlooks are their own and may not be met. Read the release ↗
04
Company profileFrom SEC dataShow
- Legal name
- GENTEX CORP
- Headquarters
- ZEELAND, MI
- Incorporated in
- Michigan
- Fiscal year end
- 12/31
- Exchange & ticker
- NASDAQ: GNTX
- Industry
- Automotive Parts & Equipment
- CIK
- 355811
- Website
- https://www.gentex.com/ ↗
- IR page
- https://ir.gentex.com/ ↗
Workforce (as of FY2025 year-end)
Employees
6,398
Source: Form 10-K (FY2025) cover page and business description
05
Earnings calendarFrom SEC dataShow
When the company reports each quarter: the quarter-end date, the day results were released, and when the 10-Q or 10-K was filed.
Next report
Q4 FY2026
Quarter end: December 2026. In past years, Q4 results were released 26–31 days after quarter end (Jan 30, 2026; Jan 31, 2025; Jan 26, 2024). No date has been announced in the sources this site uses.
Reporting pattern
- Fiscal year ends around December 31.
- Reports four times a year: three quarterly reports (10-Q) and an annual report (10-K) for Q4.
- Earnings releases came 23–31 days after quarter end over the last 12 quarters.
| Quarter | Quarter ended | Earnings release (8-K) | Report filed (10-Q / 10-K) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | Oct 23, 2026 (+23 days) | Nov 6, 2026 10-Q (+37 days) |
| Q2 FY2026 | Jun 30, 2026 | Jul 24, 2026 (+24 days) | Aug 4, 2026 10-Q (+35 days) |
| Q1 FY2026 | Mar 31, 2026 | Apr 24, 2026 (+24 days) | May 6, 2026 10-Q (+36 days) |
| Q4 FY2025 | Dec 31, 2025 | Jan 30, 2026 (+30 days) | Feb 24, 2026 10-K (+55 days) |
| Q3 FY2025 | Sep 30, 2025 | Oct 24, 2025 (+24 days) | Nov 7, 2025 10-Q (+38 days) |
| Q2 FY2025 | Jun 30, 2025 | Jul 25, 2025 (+25 days) | Aug 8, 2025 10-Q (+39 days) |
| Q1 FY2025 | Mar 31, 2025 | Apr 25, 2025 (+25 days) | May 6, 2025 10-Q (+36 days) |
| Q4 FY2024 | Dec 31, 2024 | Jan 31, 2025 (+31 days) | Feb 25, 2025 10-K (+56 days) |
| Q3 FY2024 | Sep 30, 2024 | Oct 25, 2024 (+25 days) | Nov 1, 2024 10-Q (+32 days) |
| Q2 FY2024 | Jun 30, 2024 | Jul 26, 2024 (+26 days) | Aug 2, 2024 10-Q (+33 days) |
| Q1 FY2024 | Mar 31, 2024 | Apr 26, 2024 (+26 days) | May 3, 2024 10-Q (+33 days) |
| Q4 FY2023 | Dec 31, 2023 | Jan 26, 2024 (+26 days) | Feb 22, 2024 10-K (+53 days) |
Source: SEC EDGAR filing history. Release dates are the dates the earnings release was furnished to the SEC on Form 8-K (Item 2.02), which is normally the day results are announced. For a quarter whose 10-Q or 10-K isn’t filed yet, the date is the latest Item 2.02 8-K since the previous report, which may be a preliminary or other results-related update. Fiscal years are labeled by the calendar year in which they end.
06
Flagship products & servicesSite analysis
Automotive Products
Automatic-dimming rearview mirrors
Interior and exterior electrochromic mirrors that dim automatically to reduce headlight glare; 28.6 million interior and about 16.2 million exterior units shipped in 2025.
Automotive Products
HomeLink
Wireless vehicle-to-home system that opens garage doors, gates and controls lighting and security systems; acquired in 2013.
Automotive Products
Full Display Mirror (FDM)
Mirror-borne LCD that streams live rear-camera video; shipping since 2015.
Premium Audio Products
Klipsch, Onkyo, Integra
Premium speakers, home audio and consumer electronics brands acquired with VOXX in 2025.
Other
Dimmable aircraft windows
Electronically dimmable passenger windows on the Boeing 787 and 777X; Airbus offers them as optional content.
Other
Fire protection
Smoke alarms and signaling devices for residential and commercial buildings.
From the Form 10-K, FY2025.
U.S., worldwide and country/regional share of flagship products/services
Only shares the company itself states (in its filings or press releases, sometimes citing a research firm) are shown. Scope and timing vary by figure — treat these as approximate.
Automatic-dimming rearview mirrors
Automotive mirrors
U.S. share
—
Not disclosedWorldwide share
≈79%
Company-disclosedApproximate worldwide share in 2025; largest supplier to the automotive industry. The 10-K says tariffs reduced its global share in 2025.
07
Recent strategic focusSite analysis
Recent developments.
VOXX acquisition
Completed April 1, 2025: acquired the 71% of VOXX it did not already own, for total consideration net of cash acquired of $187.7M including the fair value of its prior 29% stake; reorganized reporting into Automotive Products, Premium Audio Products and Other.
Source: Form 10-K (FY2025)
2025 results
Net sales $2,534M (+9.6%); net income $385M; gross margin improved on purchasing cost reductions and mix, partly offset by tariff costs.
Source: Form 10-K (FY2025)
Share repurchases
On July 16, 2025 announced a new authorization of 40 million shares on top of the prior one; shares outstanding fell to 215M at end-2025 from 244M in 2020.
Source: Form 10-K (FY2025)
First half 2026
Net sales $1,326.7M versus $1,234.6M; net income attributable to Gentex $213.1M versus $190.9M. Q2 sales fell 1% to $651.3M.
Source: Form 10-Q (quarter ended 2026-06-30)
Capex ÷ D&A (FY2025)
1.24x
Roughly matches depreciation — mostly maintenance/replacement
formulacapital expenditures ÷ depreciation & amortization
e.g.$129M ÷ $104M = 1.24x
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
R&D-to-revenue ratio (FY2025)
8.0%
formularesearch & development expense ÷ revenue × 100
e.g.$203M ÷ $2,534M × 100 = 8.0%
M&A spend (6-year total)
$201M
Latest year: $156M
Cash-flow-statement spending on acquisitions, net of cash acquired
Where the money goes, over time
Unit: $M. Capex went from $52M in FY2020 to $129M in FY2025
- Capex
- R&D
- M&A spend
formulacapital expenditures ÷ depreciation & amortization
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
08
Key figures at a glanceFrom SEC data
FY2020–FY2025, 6 years.
Revenue (FY2025)
$2.53B
As reported in the 10-K
Revenue CAGR (5 years)
+8.5%▲favorable
formula(last-period revenue ÷ first-period revenue) ^ (1 ÷ years) − 1
e.g.($2,534M ÷ $1,688M) ^ (1÷5) − 1 = 8.5%
termsCAGR · ^ (exponent) · Revenue (net sales)
Operating margin (FY2025)
18.7%▼caution
-5.0pt vs. 5 years ago
formulaoperating income ÷ revenue × 100
e.g.$474M ÷ $2,534M × 100 = 18.7%
ROE (FY2025)
15.5%▲favorable
6-year average: 17.4%
As reported in the 10-K
P/B (FY2025 end)
2.02x
formulafiscal year-end closing price ÷ book value per share
e.g.$23.27 ÷ $11.55 = 2.02x
Period-end (fiscal year-end) value, not today's P/B
EV/EBITDA (FY2025 end)
8.4x
formula(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization)
e.g.($5,013M + $4M − $146M) ÷ ($474M + $104M) = 8.4x
termsEV/EBITDA · Market capitalization · Interest-bearing debt · EBITDA · Depreciation & amortization (D&A)
Period-end (fiscal year-end) value, not today's multiple
- ▲
Revenue grew +8.5% a year over 5 years (strong growth)
From $1.69B in FY2020 to $2.53B in FY2025. The annualized rate (CAGR) makes it possible to compare growth pace across companies of different sizes.
- ▼
Operating margin declined: 23.7% → 18.7%
How much operating profit is left per $100 of revenue. It moved -5.0 points over 5 years — pricing power, cost control, and product mix all show up here.
- ▲
Equity ratio is 84.9% (a high level of financial stability)
The share of total assets funded by equity rather than debt. 50%+ is often read as low bankruptcy risk, though the right level varies by industry (real estate and leasing run lower, for instance).
- ▲
Free cash flow was positive in 6 of 6 years
Operating cash flow minus capital expenditures: the cash left over after funding the business’s own investment, available for dividends, buybacks, acquisitions, or debt paydown. A negative year can mean heavy investment, or weak core earnings — worth distinguishing.
- ▲
ROE averaged 17.4% over 6 years (latest: 15.5%)
How much profit was generated on shareholders’ equity. Roughly 10%+ is often cited as solid for a U.S. company, though this varies a lot by industry and capital intensity.
09
Business modelSite analysis
Business Model Canvas
The whole company in nine blocks. Left side: how it delivers (partners, activities, resources, costs). Right side: who it serves and how it earns. Every entry comes from the company’s filings shown on this page.
08 · who helps
Key partners
No partners or suppliers named in the filings.
07 · what it does
Key activities
- Interior and exterior automatic-dimming mirrors and mirror electronics (HomeLink, Full Display Mirror)
- Premium audio (Klipsch, Onkyo, Integra)
- Dimmable aircraft windows, fire protection, medical devices
06 · what it draws on
Key resources
- 6,398 full-time employees (5,708 U.S.-based) at end-2025
- U.S. manufacturing plants
- Patents and trade secrets in electrochromic dimming
02 · why customers buy
Value propositions
- Automatic-dimming mirrors and mirror-integrated electronics that automakers use to differentiate their vehicles.
04 · how it keeps them
Customer relationships
- Supply to automakers' vehicle programs.
03 · how it reaches them
Channels
- Direct sales to automakers and through Tier 1 suppliers; consumer electronics via mass merchants and retailers (VOXX).
01 · who it serves
Customer segments
- Automakers and their Tier 1 suppliers (Toyota 18%, Volkswagen 11%, GM 10% of 2025 sales)
- Aircraft makers (Boeing 787 and 777X; Airbus)
- Consumer electronics retail and commercial customers
09 · where money goes
Cost structure
FY2025, share of revenue ($2.53B)
- Cost of revenue65.8%
- Research & development8.0%
- Selling, general & administrative7.0%
Operating profit left: 18.7% of revenue. Depreciation & amortization (inside the costs above): $104M. Capital spending: $129M.
Source: Form 10-K income statement and cash-flow statement (SEC XBRL).
05 · how money comes in
Revenue streams
- Automotive Products $2,256M (2025)
- Premium Audio Products $151M
- Other $127M
Value propositions, channels and customer relationships: Form 10-K (FY2025)
Designs and manufactures automatic-dimming mirrors and mirror-integrated electronics in the U.S. and sells them to automakers directly and through Tier 1 suppliers; since the VOXX acquisition it also sells premium audio and consumer electronics, alongside dimmable aircraft windows and fire protection products.
01 what it draws on
Inputs & resources
- 6,398 full-time employees (5,708 U.S.-based) at end-2025
- U.S. manufacturing plants
- Patents and trade secrets in electrochromic dimming
02 what it does
Activities
- Interior and exterior automatic-dimming mirrors and mirror electronics (HomeLink, Full Display Mirror)
- Premium audio (Klipsch, Onkyo, Integra)
- Dimmable aircraft windows, fire protection, medical devices
03 who it serves
Customers
- Automakers and their Tier 1 suppliers (Toyota 18%, Volkswagen 11%, GM 10% of 2025 sales)
- Aircraft makers (Boeing 787 and 777X; Airbus)
- Consumer electronics retail and commercial customers
04 how money comes in
How it earns
- Automotive Products $2,256M (2025)
- Premium Audio Products $151M
- Other $127M
How the business makes money
- Shipped 28.6 million interior and about 16.2 million exterior automatic-dimming mirrors in 2025.
- VOXX contributed $267.2 million of 2025 net sales across all three segments.
- Gross margin improved to 34.2% in 2025 (cost of goods sold 65.8% of sales) despite tariff-related costs.
Government & regulation around the business
Non-market factors from the company’s filings: what governments and regulators fund, buy, set, approve or restrict, and which part of the flow above each one touches.
Gentex excludes incremental tariff costs from incentive targets.
Trade & export rules
Tariffs and trade rules
The board excluded incremental tariff costs from 2025 compensation measures.
Constrains the businessTouches: Inputs & resourcesSource: Form 10-K (FY2025)
Revenue by segment (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue
Automotive Products
2,255.9 (89%)Premium Audio Products
151.3 (6%)Other
127.1 (5%)
Source: Form 10-K (FY2025) Total net sales $2,534M. Premium Audio is new from the April 1, 2025 VOXX acquisition.
10
Where it earnsSite analysis
Many U.S.-listed companies earn most of their revenue outside the U.S. — this breaks down revenue by country/region so it's clear where the business actually makes its money.
Largest market (FY2025)
United States — 31% of revenue
Revenue by country / region (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue
United States
698.7 (31%)Japan
376.6 (17%)Germany
243.5 (11%)Mexico
182.1 (8%)Republic of Korea
179.4 (8%)China
152.6 (7%)Other countries
423.1 (19%)
Source: Form 10-K (FY2025) Automotive Products segment only ($2,256M of $2,534M total). China fell from $239M in 2023 and $207M in 2024.
11
Contract structureSite analysisShow
Short-term or spot sales carry different earnings quality than long-term or auto-renewing contracts — this shows how the company actually contracts with its customers.
12
Customers & suppliersSite analysis
Who the company sells to and buys from. Companies rarely name either, so named counterparties come only from the company's own filings and press releases; otherwise this lists the concentration figures the 10-K discloses.
Customers
Automakers (directly and through Tier 1 suppliers), aircraft makers, and consumer electronics and fire protection customers.
Named by the company
- Toyota Motor Company — 18% of 2025 net sales (19% in 2024).Form 10-K (FY2025)
- Volkswagen Group — 11% of 2025 net sales (13% in 2024).Form 10-K (FY2025)
- General Motors — 10% of 2025 net sales (11% in 2024).Form 10-K (FY2025)
Suppliers
Electronic components and raw materials for mirrors and electronics.
Named by the company
The 10-K names no single material supplier; it notes industry-wide parts shortages have disrupted supply.
13
Competitors & peersSite analysis
Competitors the 10-K names, and the peer group the company itself chose in its proxy statement. Nothing here is this site's own pick.
The 10-K names Magna Mirrors as a competitor in auto-dimming mirrors, plus unnamed Chinese domestic mirror suppliers and smoke-detection and signaling manufacturers.
Competitors named in the 10-K
Automatic-dimming mirrors
- Magna Internationalsite ↗
Peer group the company chose
Compensation peer group, from the proxy statement. Peers are companies the board considers comparable — for example when setting executive pay — not necessarily direct competitors.
Companies in similar industries and of similar size and complexity, from the 2026 proxy statement.
- Allison Transmissionsite ↗
- ITTsite ↗
- Barnes Groupsite ↗
- LCI Industriessite ↗
- Cooper-Standard Holdingssite ↗
- Littelfusesite ↗
- Donaldsonsite ↗
- Methode Electronicssite ↗
- Dorman Productssite ↗
- Modine Manufacturingsite ↗
- Federal Signalsite ↗
- Nordsonsite ↗
- Franklin Electricsite ↗
- SPX Technologiessite ↗
- Genthermsite ↗
- Standard Motor Productssite ↗
- Gracosite ↗
- Visteonsite ↗
- IDEXsite ↗
Company names link to this site’s analysis where one exists; “site ↗” opens the company’s own website.
14
Six years of financialsFrom SEC data
Each chart's axis holds a single unit (never mixing dollars, %, and $/share). The table's per-period header links to the filing the numbers came from.
Revenue over time
Unit: $M
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Profit over time (operating → net)
Unit: $M
- Operating income
- Pretax income
- Net income
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Margins over time
Unit: %
- Operating margin
- Net margin
formulaoperating income ÷ revenue × 100
formulanet income attributable to the company ÷ revenue × 100
Cash flow over time
Unit: $M (below zero = cash went out)
- Operating CF
- Investing CF
- Free CF
formulacash flow from operations − capital expenditures
termsFree cash flow (FCF) · Cash flow from operations (operating CF) · Capital expenditures (capex)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Financial stability & capital efficiency
Unit: %
- Equity ratio
- ROE
formulatotal equity ÷ total assets × 100 (as reported in the 10-K)
termsStockholders’ equity · Total assets
formulanet income ÷ average equity (beginning + ending, ÷2) × 100 (as reported in the 10-K)
termsNet income (attributable to the company) · Stockholders’ equity
Earnings per share (EPS) and dividend per share
Unit: $
- EPS
- Dividend per share
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
| Line item | FY202010-K on EDGAR ↗ | FY202110-K on EDGAR ↗ | FY202210-K on EDGAR ↗ | FY202310-K on EDGAR ↗ | FY202410-K on EDGAR ↗ | FY202510-K on EDGAR ↗ |
|---|---|---|---|---|---|---|
| Income statement ($M) | ||||||
| Revenue | 1,688 | 1,731 | 1,919 | 2,299 | 2,313 | 2,534 |
| Operating income | 400 | 410 | 370 | 496 | 460 | 474 |
| Pretax income | 412 | 416 | 370 | 505 | 472 | 461 |
| Net income (attributable) | 348 | 361 | 319 | 428 | 404 | 385 |
| Revenue growthcalc(this year’s revenue − last year’s revenue) ÷ last year’s revenue × 100 | — | 2.5% | 10.8% | 19.8% | 0.6% | 9.6% |
| Operating margincalcoperating income ÷ revenue × 100 | 23.7% | 23.7% | 19.3% | 21.6% | 19.9% | 18.7% |
| Net margincalcnet income attributable to the company ÷ revenue × 100 | 20.6% | 20.8% | 16.6% | 18.6% | 17.5% | 15.2% |
| Balance sheet ($M) | ||||||
| Total assets | 2,198 | 2,131 | 2,327 | 2,611 | 2,761 | 2,929 |
| Total equity | 1,964 | 1,938 | 2,066 | 2,313 | 2,472 | 2,488 |
| Interest-bearing debtSum of short- and long-term borrowings, notes/bonds payable | — | — | — | — | 0 | 4 |
| Equity ratio | 89.4% | 90.9% | 88.8% | 88.6% | 89.4% | 84.9% |
| ROE | 17.7% | 18.5% | 15.9% | 19.6% | 16.9% | 15.5% |
| Cash flow ($M) | ||||||
| Operating CF | 464 | 362 | 338 | 537 | 498 | 587 |
| Investing CF | 26 | -113 | -173 | -299 | -202 | -267 |
| Financing CF | -364 | -410 | -209 | -230 | -289 | -408 |
| Free cash flowcalccash flow from operations − capital expenditures | 413 | 293 | 192 | 354 | 354 | 458 |
| Cash and equivalents | 423 | 262 | 215 | 226 | 233 | 146 |
| Per share & other | ||||||
| EPS ($) | 1.41 | 1.50 | 1.36 | 1.84 | 1.76 | 1.74 |
| BVPS ($) | 8.06 | 8.20 | 8.82 | 9.99 | 10.86 | 11.55 |
| Dividend per share ($) | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| Payout ratiocalcdividend per share ÷ diluted EPS × 100 | 34.0% | 32.0% | 35.3% | 26.1% | 27.3% | 27.6% |
| P/E (x) | 24.1 | 23.2 | 20.1 | 17.8 | 16.3 | 13.4 |
| EV/EBITDA (x)calc(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization) | 15.6 | 15.7 | 13.2 | 12.4 | 11.4 | 8.4 |
| P/B (x)calcfiscal year-end closing price ÷ book value per share | 4.21 | 4.25 | 3.09 | 3.27 | 2.64 | 2.02 |
P/B and EV/EBITDA use each period’s period-end (fiscal year-end) figures, not the current share price. Figures without a "calc" tag are as reported in the Form 10-K (the consolidated financial statements and, for older years, earlier 10-Ks), pulled automatically from SEC EDGAR. Where a later filing restated a prior period, the restated figure is used.
Last 8 quarters
Three-month figures from 10-Q filings. Change is versus the same quarter a year earlier. Newest quarter on top.
| Quarter ended | Revenue | Operating income | Net income | Diluted EPS |
|---|---|---|---|---|
| 2026-06-30 | $651M-1.0% | $141M+19.3% | $115M+19.4% | $0.54 |
| 2026-03-31 | $675M+17.1% | $124M+9.4% | $98M+3.8% | $0.46 |
| 2025-12-31 † | $644M+19.0% | $120M+33.8% | $93M+6.0% | — |
| 2025-09-30 | $655M+7.7% | $122M-2.7% | $101M-17.6% | $0.46 |
| 2025-06-30 | $658M | $119M | $96M | $0.43 |
| 2025-03-31 | $577M | $113M | $95M | $0.42 |
| 2024-12-31 † | $542M | $90M | $88M | $0.39 |
| 2024-09-30 | $609M | $126M | $123M | $0.53 |
† Fourth quarter = the 10-K’s annual figure minus the first three quarters; quarterly EPS isn’t derived this way because share counts change during the year.
15
Is ROIC above WACC?From SEC data
ROIC (the return on money invested in the business) above WACC (the cost of raising that money) means the company is creating value. WACC is an estimate, so its assumptions can be adjusted below.
ROIC (FY2025)
16.1%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
e.g.$474M × (1 − 15.5%) ÷ $2,482M × 100 = 16.1%
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
WACC (this site’s estimate)
8.58%
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
e.g.Equity weight: $5.01B ÷ ($5.01B + $4M) = 99.9%
e.g.Debt weight: $4M ÷ ($5.01B + $4M) = 0.1%
e.g.WACC: 8.6% × 99.9% + 5.0% × (1 − 15.5%) × 0.1% = 8.58%
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
How firm is this? With the equity risk premium ±1 point and beta ±0.2, WACC runs 7.0%–10.5% and ROIC − WACC runs +5.6 to +9.1 points. The sign holds across this range. This describes the latest year and does not predict future value creation.
WACC 8.58% is this site’s estimate under the assumptions below (not a figure the company has published)
- Risk-free rate
- 4.95% (10-year Treasury, 2026-11-03)
- β
- 0.66 (price-derived adjusted beta, but correlation with the market is low (R² 0.08), so reliability is limited)
- Equity risk premium
- 5.5%
- Cost of equity
- 8.58%
- Cost of debt
- 4.95% (no debt on record, using the risk-free rate)
- Tax rate
- 15.5% (effective rate, FY2023–FY2025)
- Capital structure (equity : debt)
- 100% : 0%
ROIC over time, vs. WACC
Unit: % — bars = each period's ROIC, horizontal line = latest WACC. Bars above the line are green, below are red
- ROIC (above WACC)
- ROIC (below WACC)
- WACC 8.58%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
Try different WACC assumptions
β and the equity risk premium are estimates with a real range of plausible values — move the sliders to check whether ROIC > WACC still holds. The risk-free rate starts at the 10-year Treasury yield on 2026-11-03 (U.S. Treasury).
Initial β: 0.66 (price-derived adjusted beta. Raw β 0.49, R² 0.08, 129 weeks)
formula0.67 × β + 0.33 (β = the slope of weekly stock returns regressed on weekly market returns)
e.g.0.67 × 0.492 + 0.33 = 0.659
termsβ (beta)
Period 2024-05-10–2026-11-04, using S&P 500 ETF (SPY) as the market proxy. Source: Yahoo Finance price history.
formularisk-free rate + β × equity risk premium
e.g.5.0% + 0.66 × 5.5% = 8.6%
termsCAPM · Risk-free rate · β (beta) · Equity risk premium (market risk premium)
formulafiscal year-end closing price × shares outstanding (= market cap)
formulainterest expense ÷ interest-bearing debt × 100 (clamped to 0–10%; falls back to the risk-free rate if there’s no debt)
16
What the price implies (DCF)From SEC data
A company's value can be written as its free cash flow divided by (cost of capital − perpetual growth). Working that backwards from the market's valuation shows how much growth the share price assumed — compared here with the company's actual past growth.
Growth the price implies (price on 2026-11-04)
-2.1%
Perpetual FCF growth: g = r − FCF ÷ EV = 8.6% − 10.7%
Past FCF growth (FY2020–FY2025)
+2.1%
Compound annual rate, 5 years
Past revenue growth (FY2020–FY2025)
+8.5%
Compound annual rate, 5 years
Inputs (FY2025): free cash flow $458M (operating CF − capex); enterprise value $4.29B = market cap $4.44B (latest close, 2026-11-04) + debt $4M − cash and short-term investments $151M; r = WACC of 8.6% using this page’s default assumptions (β 0.66, risk-free 5.0%, market premium 5.5%).
Three WACC scenarios
The same calculation under cautious, base and optimistic cost-of-capital assumptions (risk-free rate fixed at the 10-year Treasury yield). Pick one to load it into the sliders below.
Try your own assumptions
V = FCF ÷ (r − g). It starts at the implied growth rate, where the theoretical value equals today’s enterprise value.
Theoretical enterprise value
$4.28B
FCF $458M ÷ (8.6% − -2.1%)
Theoretical ÷ actual enterprise value
1.00x
Below 1x: these assumptions value the business below the market did
How sensitive the answer is
Theoretical ÷ actual enterprise value for each combination of r and g.
| g \ r | 6.6% | 7.6% | 8.6% | 9.6% | 10.6% |
|---|---|---|---|---|---|
| 0% | 1.62x | 1.40x | 1.24x | 1.11x | 1.01x |
| 2% | 2.32x | 1.91x | 1.62x | 1.40x | 1.24x |
| 4% | 4.10x | 2.96x | 2.32x | 1.91x | 1.62x |
| 6% | 17.78x | 6.67x | 4.10x | 2.96x | 2.32x |
| 8% | — | — | 17.78x | 6.67x | 4.10x |
A simplified model for seeing what the market price assumes, not a forecast or a target price. It treats free cash flow as growing at one constant rate forever; the result swings widely with small changes in r and g, and is undefined when g reaches r. Free cash flow here is operating cash flow minus capex, which is after interest — a full DCF of enterprise value would use cash flow before interest. Market cap uses the latest close (2026-11-04) × shares at fiscal year-end; free cash flow and WACC inputs are from the latest fiscal year.
17
Earnings qualityFrom SEC dataShow
The same reported profit can mean different things depending on whether it's backed by cash, driven by the core business, or the result of a one-off item. Four checks below.
- ✓
Operating CF ÷ net income: averages 1.24x
Profit is backed by cash coming in.
- ✓
Accrual ratio (latest): -7.1%
A small share of profit rests on accounting estimates.
- ✓
Core-earnings share (operating income ÷ pretax income): 103%
Most profit comes from core operations.
- ✓
Days sales outstanding: 62 → 48 days
No major slowdown in collecting on sales.
Operating CF vs. net income
Unit: $M — operating CF above net income means profit is backed by cash
- Operating CF
- Net income
formulacash flow from operations ÷ net income attributable to the company
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formula(net income − operating CF) ÷ average total assets × 100
termsNet income (attributable to the company) · Cash flow from operations (operating CF) · Total assets
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Profit bridge (FY2025)
Unit: $M — what moved profit from operating income to net income
- Profit (each stage)
- Pushed profit up
- Pushed profit down
formulaoperating income ÷ income before income taxes × 100
termsOperating income · Income before income taxes (pretax income)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Receivables & inventory days
Unit: days — days grow when receivables or inventory build up faster than sales
- Days sales outstanding
- Days inventory outstanding
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
Worked examples (latest period)
formulacash flow from operations ÷ net income attributable to the company
e.g.$587M ÷ $385M = 1.53x
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formulaoperating income ÷ income before income taxes × 100
e.g.$474M ÷ $461M × 100 = 103%
termsOperating income · Income before income taxes (pretax income)
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
e.g.($295M + $369M) ÷ 2 ÷ $2,534M × 365 = 48 days
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
e.g.($436M + $516M) ÷ 2 ÷ $1,668M × 365 = 104 days
termsInventory · Cost of revenue (COGS)
18
Who holds the sharesFrom SEC dataShow
How much of the stock large institutional investors report owning on SEC Form 13F, how much the directors and executive officers hold (and how much of the vote they control), and roughly how much is left for individual investors. Shown next to beta so the holder mix can be read alongside how much the stock swings.
Institutions, insiders and everyone else, 13F holdings as of 2026-06-30
“Everyone else” is what remains after shares reported on Form 13F and shares held by directors and executive officers: mostly individual investors, plus non-insider families or foundations and smaller or foreign institutions. The figures have different dates and 13F reports count some shares twice — read it as an approximate split.
- Held by 13F filers
- 99.4%
- Directors & officers (shares)
- <1%
- Everyone else (est.)
- 0.6%
- Directors & officers (voting power)
- <1%
- Institutional-ownership rank
- 66 of 416
- Beta (adjusted)
- 0.66
individuals and other non-13F holders
no separate voting figure; shown as shares
1 = most institutional; 16% of covered companies have more
above 1 = swings more than the market
- 209.4M shares reported by 531 13F filers ÷ 210.7M shares outstanding on 2026-07-24. Option positions are excluded.
- Directors and executive officers as a group, from the proxy statement’s beneficial-ownership table; includes shares they can acquire within 60 days.
- A large “everyone else” share can still reflect a family, trust or foundation stake held outside the board; check the proxy statement’s 5% holders.
Sources: SEC Form 13F data set (holdings as of 2026-06-30) · Form DEF 14A filed 2026-04-09 (beneficial ownership table) · Form 10-Q cover page (shares outstanding as of 2026-07-24)
19
Strengths & weaknessesSite analysis
Strengths
1. Dominant share in its core product
Approximate 79% worldwide share of automatic-dimming rearview mirrors in 2025, and the largest supplier to the auto industry.
Evidence: Form 10-K (FY2025)
2. Almost no debt
Short-term debt of only $3.8M at end-2025 (a VOXX joint-venture loan); no balance on its revolving credit facility at end-2024 or end-2025.
Evidence: Form 10-K (FY2025)
3. Strong cash generation
Operating cash flow of $587M in 2025 on net income of $385M; dividend held at $0.12 per quarter since 2022.
Evidence: Form 10-K (FY2025)
Weaknesses
1. Customer concentration
Toyota, Volkswagen and GM accounted for 18%, 11% and 10% of 2025 net sales.
Evidence: Form 10-K (FY2025)
2. China exports hit by tariffs
Automotive sales to China fell to $153M in 2025 from $239M in 2023; the 10-K expects tariff actions to keep hurting exports there.
Evidence: Form 10-K (FY2025)
3. Profit below its 2023 peak
Net income was $385M in 2025 versus $428M in 2023, even as sales rose to $2,534M.
Evidence: Form 10-K (FY2025)
20
What draws investors to itSite analysis
Why the stock can look attractive to investors — each point paired with what has to hold for it to stay true, and the opposing view. This is this site's analysis, not a recommendation to buy or sell.
P/E (FY2025)
13.4x
Price at fiscal year-end ÷ diluted EPS
Dividend yield (FY2025)
2.06%
Dividends per share ÷ fiscal year-end price
Payout ratio (FY2025)
28%
Dividends per share ÷ diluted EPS
FCF yield (FY2025)
9.1%
(Operating CF − capex) ÷ market cap
1. Market leader with net cash
Approximate 79% global share in auto-dimming mirrors and virtually no debt.
- What has to hold
- Automakers keep specifying its mirrors and electronics.
- The other side
- Tariffs are already eroding its China exports and share.
Evidence: Form 10-K (FY2025)
2. Shareholder returns
Quarterly dividend of $0.12 and a 40-million-share buyback authorization added in 2025.
- What has to hold
- Cash flow stays strong.
- The other side
- Dividend has not been raised since 2022.
Evidence: Form 10-K (FY2025)
Interest-bearing debt is blank for 2020–2023 because SEC XBRL tags none; the 2025 10-K reports no revolver balance at end-2024 or end-2025.
21
ResilienceSite analysisShow
How well the company could absorb a bad year: its financial buffer, how its revenue and profit held up in the worst year on record, and what the 10-K says about the business's exposure to shocks. Figures and filing statements only — no overall rating.
1. Financial buffer (FY2025)
Cash & short-term investments ÷ debt due within a year
39.8x
$151M vs. $4M
Interest coverage (operating income ÷ interest expense)
Not disclosed
Interest expense isn’t reported as a separate line.
Free cash flow ÷ dividends paid
4.3x
$458M vs. $107M (FCF = operating CF − capex)
2. Worst year in the record, and the recovery
| Figure | Worst year-over-year change | Back to the prior level? |
|---|---|---|
| Revenue | No decline in the record | — |
| Operating income | -9.7% in FY2022 ($410M → $370M) | Yes, by FY2023 |
Covers only the 6 fiscal years on record (FY2020–FY2025), which may not include a full recession — the worst year here isn’t necessarily how the company would fare in a severe downturn.
3. Business resilience (from the 10-K)
Steady sales
Net sales rose from $1,688M in 2020 to $2,534M in 2025 and net income stayed between $319M and $428M every year.
Source: Form 10-K (FY2025)
22
Legal & regulatory mattersSite analysisShow
Lawsuits, government investigations, enforcement actions and settlements the company discloses — where each stands, what is at stake, and what comes next. From the 10-K's Legal Proceedings and contingencies note, the latest 10-Q, and 8-Ks.
Gentex reports no material pending legal proceedings. It is involved from time to time in product liability, intellectual property, employment and other matters; one VOXX-related proceeding was settled in Q4 2025 for less than its provisional liability.
0 open matters · 1 settled or closed
VOXX acquisition-related proceeding settled
SettledLawsuitGentex (as successor to VOXX)
During Q4 2025 one legal proceeding assumed with VOXX was settled for less than the related provisional liability; the difference adjusted goodwill during the measurement period.
Source: Form 10-K (FY2025)
Company statement:
Based on Form 10-K (FY2025), reviewed 2026-10-26. Routine ordinary-course claims are not listed. “Major” is this site’s judgment of which matters could materially affect results.
23
Risks (including geopolitical)Site analysis
Starting from the 10-K's Risk Factors section, organized by category — geopolitical, currency, raw materials, regulatory, disaster, and more — with impact and likelihood assessed by this site.
Risk map
Vertical = impact on results, horizontal = likelihood. Upper right = most severe. Numbers match the list below (placement is this site’s own assessment).
Likelihood →
"Company disclosure" vs. "this site’s assessment"
The description and mitigation for each risk are this site’s summary of the 10-K’s "Risk Factors" section. Impact and likelihood are this site’s own assessment, not the company’s — where the company discloses its own likelihood assessment, that is noted in the summary.
Impact is judged from how large the affected business is relative to total revenue/profit, and from the risk’s track record of moving results in the past. Likelihood is judged from the filing’s wording and the current business environment (already occurring, or recurring). See the rating criteria.
- 1Geopolitics & supply chain
Tariffs and China exports
- Company disclosure (summarized from the 10-K)
- Tariff and counter-tariff actions cut 2025 export sales into China and reduced global market share; the company manufactures primarily in the U.S.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact High / Likelihood High
- 2Customer/supplier concentration
Reliance on large automakers
- Company disclosure (summarized from the 10-K)
- Three automakers each took 10% or more of 2025 sales; automaker production cuts or restructuring would directly reduce orders.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact High / Likelihood Med
- 3Competition & technology shift
Mirror competition
- Company disclosure (summarized from the 10-K)
- Magna Mirrors supplies auto-dimming mirrors to domestic and foreign automakers and is called a formidable competitive threat; several Chinese domestic suppliers also sell auto-dimming mirrors.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 4Supply chain
Just-in-time supply disruptions
- Company disclosure (summarized from the 10-K)
- Industry-wide parts shortages and labor shortages have disrupted supply and may continue to; changes in customer forecasts can leave inventory obsolete.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 5M&A & integration
VOXX integration
- Company disclosure (summarized from the 10-K)
- The 2025 VOXX acquisition added consumer electronics businesses with different risks; acquisitions may not deliver expected results.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 6Governance & quality
Intellectual property
- Company disclosure (summarized from the 10-K)
- Loss of key patents and trade secrets, or infringement claims by third parties, could hurt the business.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
24
What changed in the risk factorsFrom SEC data
Paragraphs in the latest 10-K's Risk Factors that have little overlap with the year before, and paragraphs that were dropped.
New or substantially reworded (7)
Impairment of Goodwill and Intangible Assets. We evaluate the recoverability of recorded goodwill and other intangible asset amounts annually, or when evidence of potential impairment exists. Read more
The annual impairment test is based on several factors requiring judgment. We have experienced impairment charges in the past (refer to Note 1 , Summary of Significant A ccounting and Reporting Policies ) of the Consolidated Financial Statements ). Additional future impairment may result from, among other things, deterioration in the performance of our business or product
lines, adverse market conditions and changes in the competitive landscape, and a variety of other circumstances. Read more
The amount of any impairment is recorded as a charge to our Consolidated Statement of Income. We may never realize the full value of our goodwill and intangible assets, and determinations requiring impairment charges have had and will continue to have an adverse effect on our financial condition and results of operations.
Biometrics Market. A component of the Company's growth strategy includes expansion of our biometric technology and solutions into commercial markets. Read more
Although the use of biometric readers on popular consumer products, such as smartphones, has increased interest in biometrics as a means of authenticating and/or identifying individuals, commercial markets for biometrics technology are still developing and evolving. Biometrics-based solutions compete with more traditional security methods including keys, cards, personal identification numbers, fingerprints, and security personnel. Acceptance of biometrics as an alternative to such traditional methods depends upon a number of factors, including: the cost, performance and reliability of our products and services and the products and services offered by our competitors; customers’ perceptions regarding the benefits of biometrics solutions;…
legislation related to privacy of information; customers’ satisfaction with biometrics solutions; Read more
and marketing efforts and publicity regarding biometrics solutions.
A considerable number of established companies have developed or are developing and marketing software and hardware for biometrics products and applications, including facial recognition, fingerprint biometrics, and other iris authentication competitors that currently compete with, or will compete directly with, our biometric authentication solutions. We expect that additional competitors will enter the biometrics market and become significant long-term competitors, and that as a result, competition will increase. Companies competing with us may introduce solutions that are competitively priced, have increased performance or functionality or incorporate technological advances we have not yet developed or implemented. There is no assurance the Company will be successful in this area.
Our allowance for credit losses applicable to trade accounts receivable primarily relate to financially distressed automotive mirror and electronics customers. Read more
We continue to work with financially distressed customers in collecting past due balances. Our allowance for credit losses applicable to loans receivable reflect the Company's estimate of expected credit losses over the contractual life of the loans, considering historical loss experience, current conditions, and reasonable and supportable forecasts. Refer to Note 1 , Summary of Significant Accounting and R eporting Policies of the Consolidated Financial Statements .
The Company, along with many governments, regulators, investors, employees, customers and other stakeholders, are increasingly focused on environmental, social, and governance considerations relating to our business, including greenhouse gas emissions, human and civil rights and diversity, equity and inclusion. New laws and regulations in these areas have been proposed and may be adopted by varying levels of government, and the criteria used by regulators and other relevant stakeholders to evaluate practices, capabilities and performance are changing rapidly, which in each case could require us to undertake costly initiatives or operational changes. Non-compliance with emerging rules or standards or a failure to address regulator, stakeholder and societal expectations may result in potential cost increases, litigation, fines, penalties, production and sales restrictions, brand or…
Matched automatically, quoted as filed, and may include rewording of an existing risk. Compares Item 1A of the 10-K filed Feb 24, 2026 ↗ with the 10-K filed Feb 25, 2025 ↗.
25
What to watch going forwardSite analysis
- Tariff effects on China export sales and global mirror share.
- Growth of Full Display Mirror and other mirror electronics.
- VOXX/Premium Audio integration and profitability.
- Automaker production volumes at Toyota, Volkswagen and GM.
26
Source documentsShow
This page's financial figures come from the Form 10-Ks listed below. Check the original filings for full detail.
Other sources referenced in the analysis
Last updated
Analysis last edited: November 6, 2026 · Financial data fetched: October 26, 2026 12:50 (SEC EDGAR) · Source 10-K filed: February 24, 2026
Built on10-K FY2025 · filed 2026-02-24Proxy statement (2026)
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
This page is this site’s own analysis based on public information, and does not represent Gentex Corporation’s views. It is not a recommendation to buy or sell any security, and this site does not guarantee the accuracy of any figure or statement here. Always verify against the original source documents before making an investment decision.