GENTEX CORPORATION Reports Q4 FY2022 Financial Results: Total Revenue Up 2.4%, Net Income Up 17.6% Year-over-Year.
February 2, 2023
Earnings report
GENTEX CORPORATION ($NASDAQ:GNTX), a leading multinational corporation in the automotive industry, reported their earnings results for the fourth quarter of FY2022, which ended on December 31 2022, on January 27 2023. GENTEX CORPORATION is a publicly traded company with a presence in the US, Europe, and Asia. The corporation reported total revenue of USD 86.2 million for the fourth quarter of FY2022, representing an increase of 2.4% compared to the same period of the previous year. The net income for the fourth quarter increased by 17.6% year over year to USD 493.6 million. This increase was primarily driven by higher sales from the company’s automotive business and production efficiency gains. The company’s other segments such as aerospace, energy, and industrial systems also reported increased revenues due to increased demand for their products and services.
In addition to their financial performance, GENTEX CORPORATION has also been investing in research and development initiatives to improve the quality of their products and services. This has enabled them to remain competitive in the market and increase their customer base. Overall, GENTEX CORPORATION had a successful fourth quarter of FY2022 as evidenced by their increased revenue and net income compared to the previous year. The company looks forward to continuing to build on this success in the coming quarters and years.
Price History
GENTEX CORPORATION announced their fourth quarter financial results for FY2022 on Friday. The company’s stock opened at $29.2 and closed at $28.4, down 2.8% from the previous closing price of $29.2. GENTEX CORPORATION is a leading supplier of automotive components and systems, including interior and exterior mirrors, camera-based active safety systems, and automated driving systems. It also produces a range of specialty products for industrial and commercial applications, including fire protection systems and smoke alarms. The strong financial performance of GENTEX CORPORATION was driven by increased demand for its products, particularly in the automotive market.
The company also benefited from a more efficient cost structure and disciplined expense management. GENTEX CORPORATION is well-positioned to benefit from the increasing demand for advanced automotive safety and convenience technologies as automakers continue to invest in developing new vehicle architectures and systems. Going forward, the company is focused on continuing to expand its product portfolio and exploring opportunities to further improve its cost structure and operational efficiency. Investors should keep a close eye on GENTEX CORPORATION as it continues to deliver solid financial results in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gentex Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.92k | 318.76 | 16.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gentex Corporation. More…
| Operations | Investing | Financing |
| 299.14 | -113.11 | -410.12 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gentex Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.33k | 261.44 | 8.67 |
Key Ratios Snapshot
Some of the financial key ratios for Gentex Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.1% | -8.8% | 19.3% |
| FCF Margin | ROE | ROA |
| 8.7% | 11.4% | 9.9% |
Analysis
GoodWhale has conducted an analysis of GENTEX CORPORATION‘s wellbeing and determined that it is a medium risk investment in terms of financial and business aspects. The Risk Rating assigned to GENTEX CORPORATION indicates that there are certain risks associated with investing in this company. GoodWhale has identified two risk warnings in the income sheet, both non-financial in nature. Investors may want to keep this in mind before investing in GENTEX CORPORATION. It should be noted that these risk warnings should be taken into consideration when deciding whether or not to invest in the company. It is important for potential investors to conduct further research on GENTEX CORPORATION before investing any money. Investors should consider the company’s financial performance, competitive landscape, industry trends, and other factors when making an informed decision. GoodWhale encourages potential investors to register with them to gain access to more detailed information on the company. In conclusion, while GENTEX CORPORATION is a medium risk investment, investors should do their due diligence before investing their money. GoodWhale provides valuable information to help investors make informed decisions about their investments. More…
Peers
The company’s main competitors are Standard Motor Products Inc, Dorman Products Inc, LCI Industries Inc.
– Standard Motor Products Inc ($NYSE:SMP)
As of 2022, Standard Motor Products Inc has a market cap of 764.51M and a ROE of 12.67%. The company manufactures and distributes automotive parts and accessories.
– Dorman Products Inc ($NASDAQ:DORM)
Dorman Products Inc is a leading supplier of automotive replacement parts, including brake parts, engine parts, and suspension parts. The company has a market cap of 2.73B as of 2022 and a Return on Equity of 14.77%. Dorman’s products are sold through a variety of channels, including mass retailers, warehouse clubs, and automotive aftermarket distributors. The company has a strong presence in the United States and also operates in Canada, Mexico, and Europe.
– LCI Industries Inc ($NYSE:LCII)
LCI Industries, through its subsidiaries, manufactures and sells components and systems to the recreational vehicle, marine, commercial, and industrial markets. It operates through two segments, Original Equipment Manufacturing and Aftermarket. The company’s products include awnings, slide-out assemblies and systems, windows, doors, trim products, molded shower units, aluminum extrusions, vinyl and aluminum fencing and gates, lights, and other products. It offers its products under the Lippert Components, Kinro, Better Bath, Gladiator, RadianceLighting, Component Hardware Group, and RVupgrades brand names. LCI Industries was founded in 1955 and is headquartered in Elkhart, Indiana.
Summary
GENTEX CORPORATION recently released their fourth quarter earnings results for FY2022, which ended on December 31 2022. The company reported a total revenue of USD 86.2 million, up 2.4% from the prior year.
In addition, their reported net income increased by 17.6% to USD 493.6 million. Given the positive results, GENTEX CORPORATION is a solid investment option for investors seeking to diversify their portfolios. The company’s strong revenue growth and net income growth demonstrate their ability to generate profits and maintain financial stability. Furthermore, the company’s relatively low debt-to-equity ratio suggests limited financial risk and suggests that their financial position is healthy. GENTEX CORPORATION is well positioned to continue to outperform in the future. The company has a broad portfolio of products and services, a strong customer base, and an experienced management team that is able to execute on strategies efficiently.
Additionally, the company’s strong cash flow indicates that it is able to generate sufficient funds for investments and expansions. Overall, GENTEX CORPORATION is an attractive investment opportunity in the markets. Investors should be confident that the company is able to generate profits and maintain financial stability over the long term.
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