Gentex (GNTX) Cash Flow: Operating & Free Cash Flow

Gentex (GNTX) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Gentex generated $587.13M of operating cash flow and spent $129.09M on capital expenditures. That left free cash flow of $458.04M, up 29.6% from $353.54M a year earlier, or 18.1% of revenue. It returned $422.36M to shareholders through $106.86M in dividends and $315.50M in share buybacks.

Gentex Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Gentex Corporation (GNTX) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	384.68	404.49	428.40	318.76	360.80	347.56	424.68	437.88	406.79
Depreciation & Amortization	104.04	94.71	93.32	96.57	99.11	104.74	104.70	102.19	99.57
Deferred Income Tax	-18.41	-12.42	-17.74	-17.78	-41.69	-15.42	-3.36	-4.41	-15.00
Stock Based Compensation	36.65	39.54	39.20	30.23	27.42	30.80	21.67	18.31	18.38
Change in Working Capital	54.46	-40.39	-12.01	-91.25	-82.14	-0.94	-41.68	0.93	-7.92
Change in Accounts Receivable	-14.62	27.11	-45.25	-26.70	35.14	-49.29	-21.87	17.58	-19.53
Change in Inventory	18.14	-32.62	2.13	-88.09	-89.98	22.73	-23.66	-8.52	-27.45
Change in Accounts Payable	52.40	-26.02	40.95	37.42	7.27	-12.85	4.74	2.91	9.93
Change in Other Working Capital	0.21	-8.85	-9.84	-13.88	-20.24	38.48	-0.89	-11.05	29.13
Other Operating Activities	7.30	12.29	6.07	1.67	-43.02	-2.25	-0.05	-2.47	-0.82
Net Cash from Operating Activities	587.13	498.21	537.25	338.20	362.17	464.49	505.97	552.42	501.00
Investing Activities
Capital Expenditures	-129.09	-144.67	-183.68	-146.43	-68.84	-51.71	-84.58	-85.99	-104.04
Acquisitions	-179.01	-30.53	-18.94	-33.83	-12.07	-11.22	2.00	0.74	0.25
Purchases of Investments	-26.02	-82.54	-168.93	-30.11	-113.20	-73.72	-153.26	-332.11	-29.87
Sales/Maturities of Investments	76.91	58.91	76.29	40.93	83.93	167.00	182.15	237.14	53.31
Other Investing Activities	-18.10	-3.25	-4.16	-3.30	-5.50	-3.94	-3.03	-5.60	2.65
Net Cash from Investing Activities	-266.90	-202.08	-299.42	-172.74	-113.11	26.42	-56.71	-185.82	-77.71
Financing Activities
Debt Repayment	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-78.00	-107.63
Common Stock Issued	14.46	0.00	0.00	0.00	29.81	0.00	0.00	0.00	0.00
Common Stock Repurchased	-315.50	-206.11	-147.40	-112.53	-324.64	-288.48	-331.47	-591.58	-231.36
Dividends Paid	-106.86	-110.44	-112.15	-113.09	-115.29	-117.18	-116.31	-116.57	-108.82
Other Financing Activities	0.00	27.30	29.40	16.60	29.81	41.80	77.82	66.84	47.77
Net Cash from Financing Activities	-407.90	-289.25	-230.15	-209.02	-410.12	-363.86	-369.96	-719.31	-400.03
Summary
Net Change in Cash	-87.67	6.88	7.68	-43.56	-161.06	127.05	79.30	-352.71	23.26
Cash at Beginning of Period	233.32	226.44	218.75	262.31	423.37	296.32	217.03	569.73	546.48
Cash at End of Period	145.65	233.32	226.44	218.75	262.31	423.37	296.32	217.03	569.73
Free Cash Flow	458.04	353.54	353.57	191.77	293.33	412.79	421.39	466.43	396.96
Supplemental Disclosures
Income Taxes Paid	-	86.20	110.30	35.20	105.80	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About Gentex Cash Flow

What is Gentex's free cash flow?

Gentex generated free cash flow of $458.04M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $587.13M minus $129.09M of capital expenditures. That was up 29.6% from $353.54M a year earlier. Free cash flow equaled 18.1% of revenue.

How much does Gentex spend on capital expenditures?

Gentex spent $129.09M on capital expenditures in fiscal 2025, compared with $144.67M a year earlier. That equals 22.0% of operating cash flow.

Does Gentex pay dividends or buy back shares?

Yes. In fiscal 2025 Gentex returned $106.86M in dividends and $315.50M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition