Start here if you're new
what it is
Gentex makes car mirrors and car electronics that dim glare and help drivers see.
how it gets paid
Last year Gentex made $2.5B in revenue.
why it's growing
Revenue grew 9.6% last year. Quarterly sales were $644M, up 19% vs. prior year.
what just happened
Gentex posted a $0.42 EPS beat on a $0.40 estimate.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
75/100 earnings predictability — reasonably predictable
13.2x trailing p/e — the market's not buying it — or you found a deal
2.0% dividend yield — cash in your pocket every quarter
18.0% return on capital — nothing to write home about
xvary composite: 61/100 — average
What they do
Gentex makes car mirrors and car electronics that dim glare and help drivers see.
Gentex sells parts that sit inside the car's daily routine. Your mirror is not a phone case, so swapping vendors is annoying and slow. The business keeps 24.5 cents of every sales dollar before overhead, which is a wide cushion for a 6,185-employee company.
How they make money
$2.5B
annual revenue · their business grew +9.6% last year
total revenue
$2.5B
+9.6%
The products that matter
automotive mirrors and electronics
Automatic-Dimming Mirrors
$2.5B revenue · 100% of sales
this is still the entire business. The latest quarter got help from about $103M of Voxx revenue, but investors are still underwriting the same core franchise they were before the acquisition.
100% of revenue
Key numbers
$2.5B
annual revenue
That is the size of the business Wall Street keeps calling small, even though it throws off real cash.
24.5%
operating margin
You keep 24.5 cents of every sales dollar before overhead, which is rare in car parts.
18.0%
return on capital
For every $100 invested in the business, Gentex makes about $18 in operating profit.
$29
VL target
At $23.57, that target gives you about 23% upside, so the stock is not expensive but it is not free.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 80 / 100
- net profit margin 17.6% — keeps 18 cents of every dollar in revenue
- return on equity 18% — $0.18 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in GNTX 3 years ago → it's now worth $8,740.
The index would have given you $13,880.
source: institutional data · total return
What just happened
beat estimates
Gentex posted a $0.42 EPS beat on a $0.40 estimate.
Quarterly sales were $644M, up 19% vs. prior year. Gross margin was 34.0%. Core Gentex sales excluding VOXX were essentially flat, so the beat was helped by the acquisition and decent margins.
$0.64B
revenue
$0.42
eps
34.0%
gross margin
the number that mattered
The 5.0% EPS beat mattered because it showed Gentex can still outperform even when the core business is not firing.
-
gentex closed out 2025 with solid results.
-
fourth-quarter sales of $644 million increased 19% compared to the previous-year tally, although they were roughly $15 million below our estimate.the advance was almost exclusively driven by the acquisition of voxx, which was purchased on april 1, 2025.
-
that business contributed about $103 million to the top line for the period.
-
core gentex sales, excluding voxx, were essentially flat with the prior-year tally.
-
sales were pressured by a 3% decrease in global auto-dimming mirror shipments, to 10.46 million.the top line was also hurt by ongoing trade-related tensions with china due to the unfavorable impact of tariffs.
source: company earnings report, 2026
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What could go wrong
Gentex does not have a diversification problem in theory. It has one in plain sight. One franchise drives 100% of revenue, and the latest quarter already needed about $103M from Voxx to make the growth headline look healthy.
med
mirror shipments are moving the wrong way
global auto-dimming mirror shipments fell 3% last year to 10.46 million. With one core franchise carrying the business, volume pressure does not get diversified away.
impact: 100% of the $2.5B revenue base is exposed to weakness in this market.
med
Voxx may be helping the headline more than the thesis
fourth-quarter sales rose 19%, but about $103M came from Voxx and core Gentex sales were essentially flat. If acquired revenue carries the story while the legacy business stalls, the multiple probably stays low.
impact: the growth case looks thinner if reported gains do not become stronger core demand.
med
tariff pressure is already in the numbers
management cited trade-related tension with China and the unfavorable impact of tariffs. This is not vague macro language. It already affected results.
impact: tariffs pressure revenue and profitability at the same time, which matters more when the business lacks segment diversification.
med
the data-breach issue adds noise a narrow story does not need
Gentex Optics disclosed a data breach affecting current and former employees and their families, followed by a lawsuit investigation. It is not the core thesis, but it is a real legal and reputational distraction.
impact: not thesis-breaking by itself, but it can add cost, management distraction, and more headline risk to a stock already short on narrative margin for error.
Here is the practical version: if mirror shipments stay weak, if core sales stay flat without Voxx, and if the $1.95 EPS estimate starts slipping, the stock stops looking misunderstood and starts looking correctly discounted.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next earnings report
based on past history, Gentex is expected to report next in march 2026. Here's the thing: you are not just looking for growth. You are looking for growth that does not need acquisition support to exist.
trend
reported growth versus core growth
fourth-quarter sales were up 19%, but core sales were essentially flat without Voxx. That gap is the number you keep circling until it closes.
metric
fy2026 EPS estimate
the current estimate is $1.95. If that starts drifting lower, the 13.2x multiple will stop looking like a bargain and start looking like a warning.
risk
mirror shipment volume
global auto-dimming mirror shipments fell 3% to 10.46 million. If that trend continues, the legacy business has nowhere to hide.
Analyst rankings
short-term outlook
average
momentum score 3. in human-speak, analysts think this is acting like a normal stock, not an emerging story.
risk profile
average
stability score 3 — a typical risk profile. not especially safe, not especially fragile.
chart momentum
average
technical score 3 — the chart is not making a strong argument either way.
earnings predictability
75 / 100
results tend to be reasonably consistent. that matters when the growth story still needs proof.
source: institutional data
Institutional activity
institutions have been net selling for 3 consecutive quarters — 172 buyers vs. 216 sellers in 4q2025. total institutional holdings: 0.2B shares. net selling for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$19
$39
$24
current price
$29
target midpoint · +23% from current · 3-5yr high: $60 (+155% · 27% ann'l return)
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