Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Corning Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Corning Inc. current ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Corning Inc. quick ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Corning Inc. cash ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Current Ratio
Corning Inc., current ratio calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Current assets | 6,971) | 7,212) | 7,298) | 7,293) | 6,877) | 7,453) | 7,804) | 7,883) | 7,861) | 7,659) | 7,679) | 7,648) | 8,103) | 8,004) | 8,058) | 6,846) | 6,946) | 7,463) | 6,156) | 6,311) | 6,349) | |||||||
| Current liabilities | 4,175) | 4,319) | 4,285) | 4,411) | 4,773) | 5,175) | 5,167) | 5,530) | 5,061) | 4,806) | 4,337) | 4,624) | 3,513) | 3,767) | 3,849) | 3,020) | 3,191) | 3,521) | 3,600) | 3,416) | 3,059) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Current ratio1 | 1.67 | 1.67 | 1.70 | 1.65 | 1.44 | 1.44 | 1.51 | 1.43 | 1.55 | 1.59 | 1.77 | 1.65 | 2.31 | 2.12 | 2.09 | 2.27 | 2.18 | 2.12 | 1.71 | 1.85 | 2.08 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | 1.07 | 0.99 | 0.98 | 0.94 | 0.94 | 0.88 | 0.86 | 0.93 | 1.04 | 1.07 | 1.06 | 1.14 | 1.16 | 1.36 | 1.47 | 1.50 | 1.60 | 1.54 | 1.50 | 1.32 | 1.30 | |||||||
| Arista Networks Inc. | 5.01 | 4.39 | 4.15 | 4.14 | 3.96 | 4.29 | 4.01 | 3.70 | 3.73 | 4.34 | 5.06 | 5.03 | 5.09 | 4.99 | 5.50 | 5.59 | 5.82 | — | — | — | — | |||||||
| Cisco Systems Inc. | 1.47 | 1.38 | 1.39 | 1.41 | 1.45 | 1.43 | 1.49 | 1.42 | 1.62 | 1.49 | 1.53 | 1.61 | 1.59 | 1.72 | 1.59 | 1.81 | 1.70 | 1.51 | 1.69 | 1.80 | 2.11 | |||||||
| Dell Technologies Inc. | 0.80 | 0.82 | 0.75 | 0.77 | 0.78 | 0.80 | 0.82 | 0.79 | 0.77 | 0.80 | 0.77 | 0.76 | 0.82 | 0.70 | 0.71 | 0.75 | 0.77 | — | — | — | — | |||||||
| Super Micro Computer Inc. | 2.23 | 2.31 | 2.49 | 2.89 | 2.13 | 1.91 | 1.79 | 1.91 | 1.85 | 1.93 | 2.10 | 2.29 | 2.51 | 2.25 | 2.10 | 2.26 | 2.41 | 2.35 | 2.40 | 2.10 | 2.02 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 6,971 ÷ 4,175 = 1.67
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Corning Inc. current ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Quick Ratio
Corning Inc., quick ratio calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | 1,365) | 1,779) | 1,639) | 1,538) | 1,146) | 1,671) | 1,630) | 1,629) | 2,016) | 2,148) | 2,212) | 2,320) | 2,868) | 2,672) | 2,514) | 2,158) | 2,025) | 2,434) | 971) | 1,178) | 1,456) | |||||||
| Trade accounts receivable, net of doubtful accounts | 1,621) | 1,572) | 1,725) | 1,674) | 1,688) | 1,721) | 1,620) | 1,786) | 1,910) | 2,004) | 2,114) | 2,057) | 1,900) | 2,133) | 2,099) | 1,712) | 1,708) | 1,836) | 2,024) | 2,103) | 1,974) | |||||||
| Total quick assets | 2,986) | 3,351) | 3,364) | 3,212) | 2,834) | 3,392) | 3,250) | 3,415) | 3,926) | 4,152) | 4,326) | 4,377) | 4,768) | 4,805) | 4,613) | 3,870) | 3,733) | 4,270) | 2,995) | 3,281) | 3,430) | |||||||
| Current liabilities | 4,175) | 4,319) | 4,285) | 4,411) | 4,773) | 5,175) | 5,167) | 5,530) | 5,061) | 4,806) | 4,337) | 4,624) | 3,513) | 3,767) | 3,849) | 3,020) | 3,191) | 3,521) | 3,600) | 3,416) | 3,059) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Quick ratio1 | 0.72 | 0.78 | 0.79 | 0.73 | 0.59 | 0.66 | 0.63 | 0.62 | 0.78 | 0.86 | 1.00 | 0.95 | 1.36 | 1.28 | 1.20 | 1.28 | 1.17 | 1.21 | 0.83 | 0.96 | 1.12 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | 0.92 | 0.84 | 0.81 | 0.76 | 0.77 | 0.71 | 0.70 | 0.76 | 0.88 | 0.91 | 0.89 | 0.97 | 1.02 | 1.22 | 1.31 | 1.30 | 1.44 | 1.38 | 1.35 | 1.13 | 1.14 | |||||||
| Arista Networks Inc. | 3.67 | 3.16 | 2.86 | 2.73 | 2.65 | 3.05 | 2.89 | 2.73 | 2.97 | 3.54 | 4.23 | 4.24 | 4.33 | 4.25 | 4.73 | 4.94 | 5.22 | — | — | — | — | |||||||
| Cisco Systems Inc. | 1.18 | 1.13 | 1.11 | 1.13 | 1.16 | 1.16 | 1.23 | 1.20 | 1.41 | 1.32 | 1.35 | 1.46 | 1.45 | 1.58 | 1.46 | 1.64 | 1.54 | 1.39 | 1.56 | 1.67 | 1.97 | |||||||
| Dell Technologies Inc. | 0.48 | 0.52 | 0.41 | 0.44 | 0.44 | 0.49 | 0.60 | 0.53 | 0.55 | 0.59 | 0.55 | 0.51 | 0.56 | 0.51 | 0.50 | 0.54 | 0.55 | — | — | — | — | |||||||
| Super Micro Computer Inc. | 0.87 | 1.16 | 0.95 | 1.17 | 0.72 | 0.75 | 0.62 | 0.62 | 0.66 | 0.72 | 0.75 | 0.95 | 1.06 | 0.87 | 0.81 | 1.00 | 1.01 | 1.06 | 0.88 | 0.76 | 0.75 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 2,986 ÷ 4,175 = 0.72
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Corning Inc. quick ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Cash Ratio
Corning Inc., cash ratio calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | 1,365) | 1,779) | 1,639) | 1,538) | 1,146) | 1,671) | 1,630) | 1,629) | 2,016) | 2,148) | 2,212) | 2,320) | 2,868) | 2,672) | 2,514) | 2,158) | 2,025) | 2,434) | 971) | 1,178) | 1,456) | |||||||
| Total cash assets | 1,365) | 1,779) | 1,639) | 1,538) | 1,146) | 1,671) | 1,630) | 1,629) | 2,016) | 2,148) | 2,212) | 2,320) | 2,868) | 2,672) | 2,514) | 2,158) | 2,025) | 2,434) | 971) | 1,178) | 1,456) | |||||||
| Current liabilities | 4,175) | 4,319) | 4,285) | 4,411) | 4,773) | 5,175) | 5,167) | 5,530) | 5,061) | 4,806) | 4,337) | 4,624) | 3,513) | 3,767) | 3,849) | 3,020) | 3,191) | 3,521) | 3,600) | 3,416) | 3,059) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Cash ratio1 | 0.33 | 0.41 | 0.38 | 0.35 | 0.24 | 0.32 | 0.32 | 0.29 | 0.40 | 0.45 | 0.51 | 0.50 | 0.82 | 0.71 | 0.65 | 0.71 | 0.63 | 0.69 | 0.27 | 0.34 | 0.48 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | 0.55 | 0.42 | 0.50 | 0.47 | 0.37 | 0.31 | 0.37 | 0.40 | 0.43 | 0.50 | 0.57 | 0.66 | 0.58 | 0.86 | 0.98 | 0.98 | 1.05 | 0.95 | 1.05 | 0.85 | 0.80 | |||||||
| Arista Networks Inc. | 3.06 | 2.62 | 2.41 | 2.26 | 2.10 | 2.34 | 2.37 | 2.27 | 2.50 | 3.07 | 3.79 | 3.82 | 3.85 | 3.74 | 4.28 | 4.35 | 4.60 | — | — | — | — | |||||||
| Cisco Systems Inc. | 0.87 | 0.84 | 0.81 | 0.81 | 0.79 | 0.75 | 0.83 | 0.81 | 1.00 | 0.93 | 0.97 | 1.12 | 1.11 | 1.16 | 1.10 | 1.23 | 1.14 | 1.05 | 1.24 | 1.37 | 1.61 | |||||||
| Dell Technologies Inc. | 0.16 | 0.17 | 0.09 | 0.10 | 0.13 | 0.17 | 0.32 | 0.21 | 0.26 | 0.26 | 0.22 | 0.21 | 0.24 | 0.18 | 0.17 | 0.20 | 0.21 | — | — | — | — | |||||||
| Super Micro Computer Inc. | 0.34 | 0.32 | 0.33 | 0.33 | 0.18 | 0.18 | 0.17 | 0.21 | 0.25 | 0.24 | 0.23 | 0.47 | 0.51 | 0.30 | 0.38 | 0.46 | 0.41 | 0.41 | 0.30 | 0.16 | 0.14 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 1,365 ÷ 4,175 = 0.33
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Corning Inc. cash ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |