Stock Analysis on Net

Corning Inc. (NYSE:GLW)

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Analysis of Solvency Ratios 
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Corning Inc., solvency ratios (quarterly data)

Microsoft Excel
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
Debt Ratios
Debt to equity 0.66 0.65 0.66 0.67 0.57 0.58 0.60 0.58 0.56 0.57 0.58 0.62 0.58 0.60 0.64 0.65 0.64 0.60 0.50 0.49 0.44
Debt to capital 0.40 0.39 0.40 0.40 0.36 0.37 0.37 0.37 0.36 0.36 0.37 0.38 0.37 0.38 0.39 0.39 0.39 0.37 0.33 0.33 0.31
Debt to assets 0.27 0.26 0.27 0.27 0.24 0.23 0.23 0.23 0.23 0.23 0.24 0.25 0.26 0.26 0.27 0.28 0.28 0.27 0.24 0.24 0.22
Financial leverage 2.46 2.47 2.47 2.51 2.42 2.46 2.55 2.53 2.44 2.44 2.45 2.49 2.25 2.32 2.39 2.29 2.28 2.24 2.10 2.05 2.01
Coverage Ratios
Interest coverage 3.63 3.48 3.72 3.94 5.18 7.15 9.23 10.07 9.10 9.09 8.19 8.11 6.43 3.30 2.21 2.11 3.34 6.59

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Corning Inc. debt to equity ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024 not reaching Q3 2023 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Corning Inc. debt to capital ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024 not reaching Q3 2023 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Corning Inc. debt to assets ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Corning Inc. financial leverage ratio decreased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Corning Inc. interest coverage ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Debt to Equity

Corning Inc., debt to equity calculation (quarterly data)

Microsoft Excel
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 portion of long-term debt and short-term borrowings 318 320 297 187 197 224 208 121 120 55 50 353 154 156 256 12 12 11 305 455 7
Long-term debt, excluding current portion 7,050 7,206 7,210 7,437 6,654 6,687 6,525 6,677 6,839 6,989 7,019 7,025 7,650 7,816 7,822 7,797 7,815 7,729 6,225 6,080 6,018
Total debt 7,368 7,526 7,507 7,624 6,851 6,911 6,733 6,798 6,959 7,044 7,069 7,378 7,804 7,972 8,078 7,809 7,827 7,740 6,530 6,535 6,025
 
Total Corning Incorporated shareholders’ equity 11,226 11,551 11,430 11,412 11,925 12,008 11,284 11,734 12,395 12,333 12,145 11,960 13,369 13,257 12,660 12,049 12,198 12,907 13,034 13,425 13,607
Solvency Ratio
Debt to equity1 0.66 0.65 0.66 0.67 0.57 0.58 0.60 0.58 0.56 0.57 0.58 0.62 0.58 0.60 0.64 0.65 0.64 0.60 0.50 0.49 0.44
Benchmarks
Debt to Equity, Competitors2
Apple Inc. 1.46 1.79 1.81 1.76 1.96 2.37 2.06 1.78 1.71 1.98 1.89 1.76 1.69 1.72 1.56 1.40 1.21 1.19 1.12 1.06 0.97
Arista Networks Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cisco Systems Inc. 0.17 0.19 0.20 0.21 0.22 0.24 0.23 0.29 0.22 0.28 0.29 0.37 0.38 0.38 0.45 0.45 0.54 0.73 0.64 0.63 0.58
Super Micro Computer Inc. 0.07 0.15 0.11 0.09 0.15 0.42 0.43 0.27 0.25 0.09 0.08 0.04 0.03 0.03 0.03 0.02 0.02 0.03 0.02 0.05 0.09

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
Debt to equity = Total debt ÷ Total Corning Incorporated shareholders’ equity
= 7,368 ÷ 11,226 = 0.66

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Corning Inc. debt to equity ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Debt to Capital

Corning Inc., debt to capital calculation (quarterly data)

Microsoft Excel
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 portion of long-term debt and short-term borrowings 318 320 297 187 197 224 208 121 120 55 50 353 154 156 256 12 12 11 305 455 7
Long-term debt, excluding current portion 7,050 7,206 7,210 7,437 6,654 6,687 6,525 6,677 6,839 6,989 7,019 7,025 7,650 7,816 7,822 7,797 7,815 7,729 6,225 6,080 6,018
Total debt 7,368 7,526 7,507 7,624 6,851 6,911 6,733 6,798 6,959 7,044 7,069 7,378 7,804 7,972 8,078 7,809 7,827 7,740 6,530 6,535 6,025
Total Corning Incorporated shareholders’ equity 11,226 11,551 11,430 11,412 11,925 12,008 11,284 11,734 12,395 12,333 12,145 11,960 13,369 13,257 12,660 12,049 12,198 12,907 13,034 13,425 13,607
Total capital 18,594 19,077 18,937 19,036 18,776 18,919 18,017 18,532 19,354 19,377 19,214 19,338 21,173 21,229 20,738 19,858 20,025 20,647 19,564 19,960 19,632
Solvency Ratio
Debt to capital1 0.40 0.39 0.40 0.40 0.36 0.37 0.37 0.37 0.36 0.36 0.37 0.38 0.37 0.38 0.39 0.39 0.39 0.37 0.33 0.33 0.31
Benchmarks
Debt to Capital, Competitors2
Apple Inc. 0.59 0.64 0.64 0.64 0.66 0.70 0.67 0.64 0.63 0.66 0.65 0.64 0.63 0.63 0.61 0.58 0.55 0.54 0.53 0.52 0.49
Arista Networks Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cisco Systems Inc. 0.14 0.16 0.17 0.18 0.18 0.19 0.19 0.23 0.18 0.22 0.22 0.27 0.28 0.28 0.31 0.31 0.35 0.42 0.39 0.39 0.37
Super Micro Computer Inc. 0.06 0.13 0.10 0.09 0.13 0.30 0.30 0.21 0.20 0.08 0.07 0.04 0.03 0.03 0.03 0.02 0.02 0.02 0.02 0.05 0.08

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
Debt to capital = Total debt ÷ Total capital
= 7,368 ÷ 18,594 = 0.40

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Corning Inc. debt to capital ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Debt to Assets

Corning Inc., debt to assets calculation (quarterly data)

Microsoft Excel
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 portion of long-term debt and short-term borrowings 318 320 297 187 197 224 208 121 120 55 50 353 154 156 256 12 12 11 305 455 7
Long-term debt, excluding current portion 7,050 7,206 7,210 7,437 6,654 6,687 6,525 6,677 6,839 6,989 7,019 7,025 7,650 7,816 7,822 7,797 7,815 7,729 6,225 6,080 6,018
Total debt 7,368 7,526 7,507 7,624 6,851 6,911 6,733 6,798 6,959 7,044 7,069 7,378 7,804 7,972 8,078 7,809 7,827 7,740 6,530 6,535 6,025
 
Total assets 27,618 28,500 28,278 28,645 28,822 29,499 28,735 29,718 30,257 30,154 29,706 29,806 30,143 30,775 30,267 27,546 27,859 28,898 27,329 27,575 27,321
Solvency Ratio
Debt to assets1 0.27 0.26 0.27 0.27 0.24 0.23 0.23 0.23 0.23 0.23 0.24 0.25 0.26 0.26 0.27 0.28 0.28 0.27 0.24 0.24 0.22
Benchmarks
Debt to Assets, Competitors2
Apple Inc. 0.31 0.32 0.33 0.33 0.32 0.34 0.36 0.34 0.32 0.36 0.37 0.36 0.32 0.35 0.36 0.34 0.32 0.32 0.34 0.33 0.31
Arista Networks Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cisco Systems Inc. 0.08 0.08 0.09 0.09 0.10 0.10 0.10 0.12 0.10 0.12 0.12 0.15 0.15 0.15 0.18 0.18 0.20 0.25 0.24 0.25 0.24
Super Micro Computer Inc. 0.04 0.08 0.06 0.06 0.08 0.19 0.18 0.12 0.11 0.04 0.04 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.03 0.05

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
Debt to assets = Total debt ÷ Total assets
= 7,368 ÷ 27,618 = 0.27

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Corning Inc. debt to assets ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024.

Financial Leverage

Corning Inc., financial leverage calculation (quarterly data)

Microsoft Excel
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)
Total assets 27,618 28,500 28,278 28,645 28,822 29,499 28,735 29,718 30,257 30,154 29,706 29,806 30,143 30,775 30,267 27,546 27,859 28,898 27,329 27,575 27,321
Total Corning Incorporated shareholders’ equity 11,226 11,551 11,430 11,412 11,925 12,008 11,284 11,734 12,395 12,333 12,145 11,960 13,369 13,257 12,660 12,049 12,198 12,907 13,034 13,425 13,607
Solvency Ratio
Financial leverage1 2.46 2.47 2.47 2.51 2.42 2.46 2.55 2.53 2.44 2.44 2.45 2.49 2.25 2.32 2.39 2.29 2.28 2.24 2.10 2.05 2.01
Benchmarks
Financial Leverage, Competitors2
Apple Inc. 4.77 5.67 5.56 5.34 6.11 6.96 5.79 5.20 5.30 5.56 5.13 4.87 5.35 4.96 4.39 4.09 3.80 3.74 3.34 3.23 3.17
Arista Networks Inc. 1.34 1.38 1.39 1.40 1.42 1.39 1.41 1.45 1.47 1.44 1.41 1.41 1.42 1.43 1.43 1.43 1.44 1.45 1.36 1.36 1.39
Cisco Systems Inc. 2.18 2.30 2.31 2.31 2.31 2.36 2.30 2.39 2.25 2.36 2.34 2.44 2.49 2.50 2.56 2.54 2.69 2.91 2.64 2.51 2.40
Super Micro Computer Inc. 1.89 1.86 1.81 1.69 2.03 2.25 2.41 2.26 2.14 2.05 1.90 1.78 1.69 1.80 1.89 1.80 1.75 1.79 1.76 1.93 1.99

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
Financial leverage = Total assets ÷ Total Corning Incorporated shareholders’ equity
= 27,618 ÷ 11,226 = 2.46

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Corning Inc. financial leverage ratio decreased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Interest Coverage

Corning Inc., interest coverage calculation (quarterly data)

Microsoft Excel
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)
Net income (loss) attributable to Corning Incorporated 209 (40) 164 281 176 (36) 208 563 581 487 371 449 599 252 427 (71) (96) 32 337 92 499
Add: Net income attributable to noncontrolling interest 16 12 18 22 15 9 18 21 22 9 13 5 2 5 6 (4) 4 13 6
Add: Income tax expense 71 (10) 35 106 37 31 34 166 180 89 109 67 226 78 23 22 (12) (15) 71 124 76
Add: Interest expense 83 90 82 81 76 76 73 72 71 73 72 78 77 75 70 67 64 60 55 54 52
Earnings before interest and tax (EBIT) 379 52 299 490 304 80 333 822 854 658 565 599 904 405 525 24 (44) 73 467 283 633
Solvency Ratio
Interest coverage1 3.63 3.48 3.72 3.94 5.18 7.15 9.23 10.07 9.10 9.09 8.19 8.11 6.43 3.30 2.21 2.11 3.34 6.59
Benchmarks
Interest Coverage, Competitors2
Cisco Systems Inc. 38.18 36.87 35.87 37.17 39.53 41.21 41.54 38.79 35.64 31.56 29.20 27.76 25.98 24.88 22.44 20.36 18.58 17.96
Super Micro Computer Inc. 84.71 72.55 70.87 68.85 56.79 53.71 51.73 42.94 45.86 48.81 38.80 38.83 36.02 40.01 37.51 28.81 20.91 13.97

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
Interest coverage = (EBITQ1 2024 + EBITQ4 2023 + EBITQ3 2023 + EBITQ2 2023) ÷ (Interest expenseQ1 2024 + Interest expenseQ4 2023 + Interest expenseQ3 2023 + Interest expenseQ2 2023)
= (379 + 52 + 299 + 490) ÷ (83 + 90 + 82 + 81) = 3.63

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Corning Inc. interest coverage ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level.