Gentex (FRA:GTX) Cyclically Adjusted PB Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:GTX Gentex Corp FRA:GTX
37 GF Score
Price €19.25
GF Value €29.22
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Gentex Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Gentex  (FRA:GTX) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Gentex Cyclically Adjusted PB Ratio Related Terms


Gentex Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Gentex's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Gentex Cyclically Adjusted PB Ratio Chart

Gentex Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.94 3.63 3.84 3.32 2.23

Gentex Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.19 2.77 2.27 2.08 2.41

FRA:GTX vs GTX, ATMU, DORM: Cyclically Adjusted PB Ratio Comparison

For the Auto Parts subindustry, Gentex's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Gentex Cyclically Adjusted PB Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Gentex's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Gentex's Cyclically Adjusted PB Ratio falls into.


FRA:GTX
37GF Score
Gentex Corp FRA:GTX
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Gentex Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Gentex's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Gentex's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=10.548/333.9520*333.9520
=10.548

Current CPI (Jun. 2026) = 333.9520.

Gentex Quarterly Data

Book Value per Share CPI Adj_Book
201609 5.765 241.428 7.974
201612 6.295 241.432 8.707
201703 6.427 243.801 8.804
201706 6.153 244.955 8.389
201709 6.037 246.819 8.168
201712 6.090 246.524 8.250
201803 5.849 249.554 7.827
201806 6.120 251.989 8.111
201809 6.054 252.439 8.009
201812 6.280 251.233 8.348
201903 6.471 254.202 8.501
201906 6.564 256.143 8.558
201909 6.967 256.759 9.062
201912 6.871 256.974 8.929
202003 6.828 258.115 8.834
202006 6.603 257.797 8.554
202009 6.596 260.280 8.463
202012 6.587 260.474 8.445
202103 6.908 264.877 8.709
202106 6.762 271.696 8.311
202109 6.886 274.310 8.383
202112 7.208 278.802 8.634
202203 7.394 287.504 8.589
202206 8.081 296.311 9.108
202209 8.850 296.808 9.958
202212 8.266 296.797 9.301
202303 8.362 301.836 9.252
202306 8.623 305.109 9.438
202309 9.185 307.789 9.966
202312 9.045 306.746 9.847
202403 9.517 312.332 10.176
202406 9.728 314.175 10.340
202409 9.524 315.301 10.087
202412 10.507 315.605 11.118
202503 10.210 319.799 10.662
202506 9.442 322.561 9.775
202509 9.708 324.800 9.982
202512 9.844 324.054 10.145
202603 10.210 330.213 10.326
202606 10.548 333.952 10.548

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Gentex (FRA:GTX) Overvalued in 2026?

Based on GuruFocus' analysis, Gentex stock appears to be undervalued. The current stock price of €19.25 is trading 34.1% below its estimated GF Value™ of €29.22. GuruFocus considers Gentex to be Significantly Undervalued.

Key valuation signals for FRA:GTX:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €29.22 vs. price of €19.25 (34.1% below fair value)
  • GF Score™: 37/100 with 2 warning signs

No single metric tells the full story. See the FRA:GTX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Gentex Business Description

Other Exchanges GNTX:USAGTX:Germany
Address 600 North Centennial Street, Zeeland, MI, USA, 49464
Gentex was founded in 1974 to produce smoke-detection equipment. The company sold its first glare-control interior mirror in 1982 and its first model using electrochromic technology in 1987. Automotive revenue was about 89% of total revenue in 2025, down from 98% in 2024 due to the Voxx acquisition in April 2025. The company is constantly developing new applications for the technology to remain on top. Sales in 2025 totaled about $2.5 billion with 44.8 million mirrors shipped. The unit mix breaks out as 64% interior and 36% exterior versus 31% exterior in 2019. The company is based in Zeeland, Michigan.
37GF Score

Get the complete analysis for FRA:GTX

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€19.25
Price
€29.22
GF Value