Earnings Per Share

9 Months Ended

Sep. 30, 2025

The Company has unvested share-based payment awards with a right to receive non-forfeitable dividends, which are considered participating securities under ASC 260, Earnings Per Share. The Company allocates earnings to participating securities and computes earnings per share using the two-class method. Under the two-class method, net income per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, net income is allocated to both common shares and participating securities based on their respective weighted average shares outstanding for the period. For a period of net loss, net loss is not allocated to participating securities.

The following table sets forth the computation of basic and diluted net income per common share under the two-class method for the three and nine months ended September 30, 2025 and September 30, 2024:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Basic Earnings Per Share
Net Income Attributable to Gentex Corporation	$	100,967,910	$	122,549,041	$	291,881,539	$	316,820,194
Less: Dividends and undistributed earnings allocated to participating securities	1,523,892		1,604,095		4,277,469		4,418,133
Net Income available to common shareholders	$	99,444,018	$	120,944,946	$	287,604,070	$	312,402,061

Basic weighted average shares outstanding	215,944,553		226,002,347		219,331,486		226,646,541
Net Income per share - Basic	$	0.46	$	0.54	$	1.31	$	1.38

Diluted Earnings Per Share
Allocation of Net Income used in basic computation	$	99,444,018	$	120,944,946	$	287,604,070	$	312,402,061
Reallocation of undistributed earnings	257		1,288		238		5,183
Net Income available to common shareholders - Diluted	$	99,444,275	$	120,946,234	$	287,604,308	$	312,407,244

Number of shares used in basic computation	215,944,553		226,002,347		219,331,486		226,646,541
Additional weighted average dilutive common stock equivalents	50,236		239,337		17,195		363,391
Diluted weighted average shares outstanding	215,994,789		226,241,684		219,348,681		227,009,932

Net Income per share - Diluted	$	0.46	$	0.53	$	1.31	$	1.38

Shares related to stock plans not included in diluted average common shares outstanding because their effect would be anti-dilutive	2,664,948		1,619,446		3,000,159		625,410