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Gentex (Gentex) Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Gentex has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Gentex's Piotroski F-Score or its related term are showing as below:

GNTX' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of Gentex was 9. The lowest was 5. And the median was 7.


Gentex Piotroski F-Score Historical Data

The historical data trend for Gentex's Piotroski F-Score 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.

* Premium members only.

Gentex Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 5.00 7.00 6.00 8.00

Gentex Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 8.00 8.00 8.00

Competitive Comparison

For the Auto Parts subindustry, Gentex's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, Gentex's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Gentex's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 97.578 + 109.155 + 104.725 + 116.944 = $428 Mil.
Cash Flow from Operations was 120.914 + 120.852 + 125.902 + 169.581 = $537 Mil.
Revenue was 550.761 + 583.473 + 575.848 + 589.132 = $2,299 Mil.
Gross Profit was 174.737 + 193.083 + 191.441 + 203.369 = $763 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(2327.23 + 2433.348 + 2487.107 + 2558.319 + 2611.438) / 5 = $2483.4884 Mil.
Total Assets at the begining of this year (Dec22) was $2,327 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Total Current Assets was $998 Mil.
Total Current Liabilities was $272 Mil.
Net Income was 87.529 + 72.404 + 72.656 + 86.168 = $319 Mil.

Revenue was 468.251 + 463.423 + 493.637 + 493.648 = $1,919 Mil.
Gross Profit was 160.412 + 148.367 + 147.201 + 153.834 = $610 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(2131.391 + 2180.382 + 2284.454 + 2311.323 + 2327.23) / 5 = $2246.956 Mil.
Total Assets at the begining of last year (Dec21) was $2,131 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Total Current Assets was $949 Mil.
Total Current Liabilities was $251 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Gentex's current Net Income (TTM) was 428. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Gentex's current Cash Flow from Operations (TTM) was 537. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=428.402/2327.23
=0.18408236

ROA (Last Year)=Net Income/Total Assets (Dec21)
=318.757/2131.391
=0.14955351

Gentex's return on assets of this year was 0.18408236. Gentex's return on assets of last year was 0.14955351. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Gentex's current Net Income (TTM) was 428. Gentex's current Cash Flow from Operations (TTM) was 537. ==> 537 > 428 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0/2483.4884
=0

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0/2246.956
=0

Gentex's gearing of this year was 0. Gentex's gearing of last year was 0. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=997.738/271.609
=3.67343497

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=948.652/250.553
=3.78623285

Gentex's current ratio of this year was 3.67343497. Gentex's current ratio of last year was 3.78623285. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Gentex's number of shares in issue this year was 228.336. Gentex's number of shares in issue last year was 230.29. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=762.63/2299.214
=0.33169161

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=609.814/1918.959
=0.31778376

Gentex's gross margin of this year was 0.33169161. Gentex's gross margin of last year was 0.31778376. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=2299.214/2327.23
=0.98796165

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=1918.959/2131.391
=0.90033176

Gentex's asset turnover of this year was 0.98796165. Gentex's asset turnover of last year was 0.90033176. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Gentex has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Gentex  (NAS:GNTX) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Gentex Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Gentex's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Gentex (Gentex) Business Description

Traded in Other Exchanges
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 is about 98% of total revenue. The company is constantly developing new applications for the technology to remain on top. Sales in 2022 totaled about $1.9 billion with 44.2 million mirrors shipped. The unit mix breaks out as 65% interior and 35% exterior, versus about 32% exterior in 2020. The company is based in Zeeland, Michigan.
Executives
Anderson Joseph B Jr director MERITOR, INC., 2135 WEST MAPLE ROAD, TROY MI 48084-7186
Kathleen Starkoff director 4304 SUNBURY ROAD, GALENA OH 43021-9318
Gary F Goode director 2801 EAST BELTLINE, N.E., GRAND RAPIDS MI 49525
James A Hollars director 23880 MESSINA COURT, BONITA SPRINGS FL 34134
Richard O Schaum director 388 WARREN COURT, BIRMINGHAM MI 48009
Neil Boehm officer: Chief Technology Officer 600 N. CENTENNIAL STREET, ZEELAND MI 49464
Scott P Ryan officer: General Counsel 7592 KIRKWOOD TRAIL SE, ALTO MI 49302
Steven R Downing officer: Chief Financial Officer 14814 CREEK EDGE DRIVE, HOLLAND MI 49424
James H Wallace director 2625 WYNDBEND BLVD, POWELL OH 43065
John A Mulder director 16680 LYONHURST CIRCLE, NORTHVILLE MI 48167
Ling Zang director 6291 SHENANDOAH PARK AVE, SALT LAKE CITY UT 84121
Matthew Chiodo officer: Vice President of Sales 600 N. CENTENNIAL STREET, ZEELAND MI 49464
Kevin C Nash officer: Chief Accounting Officer 2608 104TH AVENUE, ZEELAND MI 49464
Frederick A Sotok director
Brian C Walker director

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