Analysis of Inventory
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Inventory Disclosure
Corning Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Finished goods | |||||||||||
| Work in process | |||||||||||
| Raw materials and accessories | |||||||||||
| Supplies and packing materials | |||||||||||
| Inventories |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Finished Goods Inventory
- The finished goods inventory exhibited a general upward trend from 2019 to 2022, increasing from 973 million USD in 2019 to a peak of 1315 million USD in 2022. However, in 2023 there was a decline to 1242 million USD, indicating a slight reduction following the prior year’s increase.
- Work in Process Inventory
- Work in process inventory experienced a decrease from 421 million USD in 2019 to 357 million USD in 2020, remaining almost stable at 358 million USD in 2021. Thereafter, it rose sharply to 571 million USD in 2022 before slightly decreasing to 551 million USD in 2023. This suggests variability with notable expansion in intermediate stages of production in the recent years 2022 and 2023.
- Raw Materials and Accessories Inventory
- This category dropped significantly from 481 million USD in 2019 to 370 million USD in 2020. Subsequently, it increased to 427 million USD in 2021 and further to 537 million USD in 2022, before declining again to 445 million USD in 2023. The fluctuations indicate sensitivity to changes in procurement or production scheduling and a possible restocking cycle.
- Supplies and Packing Materials Inventory
- Supplies and packing materials increased from 445 million USD in 2019 to 506 million USD in 2021, followed by a moderate decline to 481 million USD in 2022 and a further decrease to 428 million USD in 2023. This pattern may reflect adjustments in operational needs or efficiency improvements in managing these materials.
- Total Inventories
- Total inventory levels moved from 2320 million USD in 2019 to 2438 million USD in 2020, and continued rising to reach 2904 million USD in 2022. In 2023, the total decreased to 2666 million USD. The overall trend points to inventory accumulation over the early part of the period with some reduction recently, which could suggest efforts to optimize inventory holding or respond to demand shifts.