GENTEX CORP
GNTX · Motor Vehicle Parts & Accessories · 213.0M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $108M (gross $147M, SBC $39M)
Reference price $22.98 · est. market cap ~$4.9B — last insider sale, 2026-05-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B83Category-leading electrochromic-mirror maker with top-decile margins and strong cash generation, but with a specific growth/profit stall this year.
Strengths
- Top-decile operating margin 18.7% (96.6th pct) and OCF margin 23.2% (96.7th pct); net margin 15.2% (90.0th pct)
- Strong returns (ROA 91.2nd pct), low leverage, 2.9x current ratio, and IP-backed moat in auto-dimming mirrors/FDM
Risks
- Core Gentex sales fell ~2% and net income -4.9%, with tariff/China demand pressure and equity-investment impairments
- Heavy automotive cyclicality and customer concentration (Toyota, VW, GM each >10%)
Notable findings
- Customer concentration~89% of revenue from one customer/distributor — Customers within the auto industry comprise approximately 89% of our net sales
- Strong balance sheetStrong balance sheet — $424M cash & investments
- Buying back stockNet buyback — share count -2%/yr over 4y
- Insider sellingInsider selling — 13 open-market sale(s) by 9 insider(s) (cluster of 9 insiders, ~$3M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
34.2%
Operating margin
18.7%
Net margin
15.2%
Return on equity
15.5%
Return on assets
13.1%
Revenue growth (QoQ)
4.8%
Net-income growth
-4.9%
Current ratio
2.9×
EBITDA
$578M
Tangible book value
$1.9B
Cash & investments
$424M
Stock comp / revenue
1.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-21 | KENNEDY JOHN C | Grant | 5.6K | — |
| 2026-05-21 | Pink Billy | Grant | 5.6K | — |
| 2026-05-21 | Zang Ling | Grant | 5.6K | — |
| 2026-05-21 | Starkoff Kathleen | Grant | 5.6K | — |
| 2026-05-21 | BROWN LESLIE L | Grant | 5.6K | — |
| 2026-05-21 | Schaum Richard O | Grant | 5.6K | — |
| 2026-05-21 | DEUR GARTH | Grant | 5.6K | — |
| 2026-05-21 | WALKER BRIAN C | Grant | 5.6K | — |
| 2026-05-15 | ANDERSON JOSEPH B JR | Sell | 5.9K | $22.98 |
| 2026-05-15 | WALKER BRIAN C | Sell | 5.9K | $22.98 |
| 2026-05-05 | BROWN LESLIE L | Sell | 11K | $22.85 |
| 2026-05-05 | BROWN LESLIE L | Option exercise | 7.0K | $15.74 |
| 2026-05-05 | BROWN LESLIE L | Option exercise | 7.0K | $18.70 |
| 2026-04-30 | Schaum Richard O | Sell | 4.8K | $23.31 |
| 2026-04-30 | Schaum Richard O | Option exercise | 7.0K | $15.74 |
| 2026-02-19 | Downing Steven R | Grant | 43K | — |
| 2026-02-19 | Boehm Neil | Grant | 15K | — |
| 2026-02-19 | Nash Kevin C | Grant | 14K | — |
| 2026-02-19 | Ryan Scott P | Grant | 11K | — |
| 2026-02-19 | Chiodo Matthew | Grant | 12K | — |
| 2026-02-17 | Nash Kevin C | Tax withheld | 17K | $24.89 |
| 2026-02-17 | Nash Kevin C | Tax withheld | 4.3K | $24.89 |
| 2026-02-17 | Nash Kevin C | Sell | 6.3K | $24.98 |
| 2026-02-17 | Nash Kevin C | Sell | 5.6K | $24.98 |
| 2026-02-17 | Ryan Scott P | Grant | 26K | — |
| 2026-02-17 | Boehm Neil | Grant | 32K | — |
| 2026-02-17 | Boehm Neil | Tax withheld | 14K | $24.89 |
| 2026-02-17 | Boehm Neil | Sell | 8.9K | $24.82 |
| 2026-02-17 | Boehm Neil | Tax withheld | 3.6K | $24.89 |
| 2026-02-17 | Boehm Neil | Sell | 2.3K | $24.82 |
| 2026-02-17 | Chiodo Matthew | Grant | 28K | — |
| 2026-02-17 | Chiodo Matthew | Tax withheld | 13K | $24.89 |
| 2026-02-17 | Chiodo Matthew | Tax withheld | 3.2K | $24.89 |
| 2026-02-17 | Chiodo Matthew | Sell | 16K | $25.02 |
| 2026-02-17 | Chiodo Matthew | Sell | 4.1K | $25.02 |
| 2026-02-17 | Ryan Scott P | Tax withheld | 11K | $24.89 |
| 2026-02-17 | Ryan Scott P | Tax withheld | 2.9K | $24.89 |
| 2026-02-17 | Ryan Scott P | Sell | 7.1K | $24.73 |
| 2026-02-17 | Ryan Scott P | Sell | 1.9K | $24.73 |
| 2026-02-17 | Downing Steven R | Grant | 124K | — |
| 2026-02-17 | Downing Steven R | Tax withheld | 54K | $24.89 |
| 2026-02-17 | Downing Steven R | Tax withheld | 14K | $24.89 |
| 2026-02-17 | Downing Steven R | Sell | 35K | $24.75 |
| 2026-02-17 | Nash Kevin C | Grant | 38K | — |
| 2025-08-26 | Nash Kevin C | Gift | 865 | $28.28 |
| 2025-05-16 | ANDERSON JOSEPH B JR | Sell | 3.8K | $22.87 |
| 2025-05-15 | Schaum Richard O | Grant | 5.9K | — |
| 2025-05-15 | Starkoff Kathleen | Grant | 5.9K | — |
| 2025-05-15 | Pink Billy | Grant | 5.9K | — |
| 2025-05-15 | DEUR GARTH | Grant | 5.9K | — |
| 2025-05-15 | BROWN LESLIE L | Grant | 5.9K | — |
| 2025-05-15 | ANDERSON JOSEPH B JR | Grant | 5.9K | — |
| 2025-05-15 | Zang Ling | Grant | 5.9K | — |
| 2025-05-15 | WALKER BRIAN C | Grant | 5.9K | — |
| 2025-05-01 | Schaum Richard O | Option exercise | 7.0K | $17.46 |
| 2025-02-20 | Boehm Neil | Grant | 12K | — |
| 2025-02-20 | Ryan Scott P | Grant | 8.4K | — |
| 2025-02-20 | Nash Kevin C | Grant | 12K | — |
| 2025-02-20 | Downing Steven R | Grant | 38K | — |
| 2025-02-20 | Chiodo Matthew | Grant | 9.1K | — |
| 2025-02-18 | Chiodo Matthew | Grant | 11K | — |
| 2025-02-18 | Chiodo Matthew | Tax withheld | 5.5K | $24.62 |
| 2025-02-18 | Chiodo Matthew | Tax withheld | 6.1K | $24.62 |
| 2025-02-18 | Ryan Scott P | Grant | 10K | — |
| 2025-02-18 | Ryan Scott P | Tax withheld | 5.0K | $24.62 |
| 2025-02-18 | Ryan Scott P | Tax withheld | 2.6K | $24.62 |
| 2025-02-18 | Boehm Neil | Grant | 13K | — |
| 2025-02-18 | Boehm Neil | Tax withheld | 6.3K | $24.62 |
| 2025-02-18 | Boehm Neil | Tax withheld | 3.3K | $24.62 |
| 2025-02-18 | Nash Kevin C | Grant | 16K | — |
| 2025-02-18 | Nash Kevin C | Tax withheld | 7.5K | $24.62 |
| 2025-02-18 | Nash Kevin C | Tax withheld | 8.4K | $24.62 |
| 2025-02-18 | Downing Steven R | Grant | 52K | — |
| 2025-02-18 | Downing Steven R | Tax withheld | 52K | $24.62 |
| 2025-02-18 | Downing Steven R | Tax withheld | 13K | $24.62 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (4)
- General Motors 10% of rev
- Toyota Motor Company 10% of rev
- Volkswagen Group 10% of rev
- VOXX International Corporation
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-21 | 0000355811-26-000028 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0000355811-26-000026 ↗ |
| 8-K | 2026-04-24 | 2026-04-24 | 0000355811-26-000021 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0000355811-26-000010 ↗ |
| 8-K | 2026-01-30 | 2026-01-30 | 0000355811-26-000005 ↗ |
| 10-Q | 2025-11-07 | 2025-09-30 | 0000355811-25-000052 ↗ |
| 8-K | 2025-10-24 | 2025-10-24 | 0000355811-25-000047 ↗ |
| 10-Q | 2025-08-08 | 2025-06-30 | 0000355811-25-000041 ↗ |
| 8-K | 2025-07-25 | 2025-07-25 | 0000355811-25-000037 ↗ |
| 8-K | 2025-05-19 | 2025-05-15 | 0000355811-25-000032 ↗ |
| 10-Q | 2025-05-06 | 2025-03-31 | 0000355811-25-000029 ↗ |
| 8-K | 2025-04-25 | 2025-04-25 | 0000355811-25-000026 ↗ |