Gentex Corporation - Company Profile
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Business Description
Gentex Corporation (Gentex) designs and manufactures automatic-dimming rearview, non-dimming mirrors, and electronics for the automotive industry. It also manufactures dimmable aircraft windows for the aviation industry and signaling devices and commercial smoke alarms for the fire protection industry.
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R&D Overview
Gentex’s R&D arm focuses on increasing and improving the performance of its products. As of December 2022, The company owned 40 U.S registered trademarks and 786 U.S. patents, with 31 registered trademarks and 711 patents related to electrochromic technology, automotive rearview mirrors, microphones, sensor technology, displays, cameras, smart lighting technology, and HomeLink products. The company also owns 360 foreign registered trademarks and 1,194 foreign patents, with 344 registered trademarks and 1,128 patents related to electrochromic technology, automotive rearview mirrors, microphones, displays, cameras, sensor technology, and/or HomeLink products. The Company owns 50 U.S. patents and 54 foreign patents that relate specifically to its variable dimmable windows. The company owns 9 U.S. registered trademarks, 19 U.S. patents, 16 foreign registered trademarks, and 12 foreign patents that relate to the company’s fire protection products. The company believes that the competitive advantage provided by these patents is relatively small. The company also has in process 176 U.S. patent applications, 296 foreign patent applications, and 15 registered trademark applications. The company operates R&D offices in Salt Lake City, Utah and Santa Clara, California, the US. In FY2022, the company incurred R&D expense of US$133.3 million, which as a percentage of revenue, stood at 6.9% and grew 13.2% YoY.
Business Segments
Overview
Offers interior and exterior automotive rearview mirrors, electrochromic automatic-dimming rearview mirrors, and automotive electronics. Produces rearview mirrors and electronics for automotive passenger cars, pickup trucks, sport utility vehicles, light trucks, and vans for original equipment manufacturers (OEMs). Its electronic interior mirrors also include features such as compass, HomeLink, microphones, lighting assist and driver assist forward safety camera systems, among others. Also ships interior non-automatic-dimming rearview mirrors and markets other automotive electronic products both inside and outside of the rearview mirror through HomeLink applications in the vehicle including the interior visor, rearview mirror, center console and overhead console. It provides SmartBeam and driver-assist features, HomeLink, frameless mirror designs, LED map lamps, compass and temperature displays, telematics, rear camera display (RCD) and full display (FDM) interior mirrors, exterior turn signals and side blind zone indicators and various other exterior mirror features. Markets its products through a direct sales force through sales and engineering offices in the UK, Germany, France, Sweden, South Korea, the US, Japan and China. It supplies mirrors and electronic modules for Aston Martin, BMW, Ford Motor Co., Daimler Group, Geely/Volvo, General Motors, Honda Motor Co., Nissan Motor Co., Jaguar/Land Rover, Hyundai/Kia, FCA Group, Renault, Suzuki, Tesla, Mahindra & Mahindra, Karma Automotive, Mazda, McLaren, Toyota Motor Co., PSA/Opel Group, Subaru, and Volkswagen, among others. In FY 2022, the capital expenditure of the segment stood at US$141.2 million, which grew 141.7% YoY.
Performance
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Overview
Provides dimmable aircraft windows and fire protection products. Supplies various dimmable windows for the passenger compartment on the Boeing 787 Dreamliner Series of Aircraft. Also offers photoelectric smoke detectors and alarms, Nanofiber, photoelectric smoke detectors, visual signaling alarms, electrochemical carbon monoxide alarms, electrochemical carbon monoxide detectors, and alarms, audible and visual signaling alarms, and bells and speakers. Used mostly in fire detection systems in office buildings, hotels, and other commercial and residential establishments. In FY 2023, the capital expenditure of the segment stood at US$2.4 million, which grew 60.6% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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