Gentex Corp

GNTX: XNAS (USA)
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We Expect Gentex to Keep Dominating Auto Dimming Mirrors While Expanding Into New Verticals

Business Strategy and Outlook

Gentex manufactures auto-dimming rear- and side-view mirrors that use electrochromic technology. These mirrors automatically darken to eliminate headlight glare for drivers and have many other applications. With over 2,300 patents worldwide, some valid through 2046, and over 85% market share, up from 77% in 2003, Gentex has a narrow economic moat it should be able to protect for a long time, in our opinion.

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