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 Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Corning Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 0.86 0.92 0.89 0.72 0.75
Net fixed asset turnover (including operating lease, right-of-use asset) 0.81 0.88 0.85 0.69 0.73
Total asset turnover 0.44 0.48 0.47 0.37 0.40
Equity turnover 1.09 1.18 1.14 0.85 0.89

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Corning Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Corning Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Corning Inc. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Corning Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover

Corning Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 12,588 14,189 14,082 11,303 11,503
Property, plant and equipment, net of accumulated depreciation 14,630 15,371 15,804 15,742 15,337
Long-term Activity Ratio
Net fixed asset turnover1 0.86 0.92 0.89 0.72 0.75
Benchmarks
Net Fixed Asset Turnover, Competitors2
Apple Inc. 8.77 9.36 9.28 7.47 6.96
Arista Networks Inc. 57.69 46.11 37.49 71.90 61.38
Cisco Systems Inc. 27.34 25.82 21.31 20.10 18.61
Super Micro Computer Inc. 24.54 18.17 12.95 14.28 16.88
Net Fixed Asset Turnover, Sector
Technology Hardware & Equipment 9.81 10.24 10.02 8.34 7.87
Net Fixed Asset Turnover, Industry
Information Technology 3.52 4.14 4.45 4.24 4.29

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).

1 2023 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net of accumulated depreciation
= 12,588 ÷ 14,630 = 0.86

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Corning Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Corning Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 12,588 14,189 14,082 11,303 11,503
 
Property, plant and equipment, net of accumulated depreciation 14,630 15,371 15,804 15,742 15,337
Operating lease right-of-use assets 883 842 741 680 504
Property, plant and equipment, net of accumulated depreciation (including operating lease, right-of-use asset) 15,513 16,213 16,545 16,422 15,841
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 0.81 0.88 0.85 0.69 0.73
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Apple Inc. 7.05 7.51 7.39 6.06 6.96
Arista Networks Inc. 37.21 29.52 20.50 21.16 18.98
Cisco Systems Inc. 18.65 17.19 14.51 14.61 18.61
Super Micro Computer Inc. 23.02 16.78 12.07 12.96 16.88
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Technology Hardware & Equipment 7.83 8.13 7.91 6.71 7.85
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.09 3.59 3.79 3.60 4.00

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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net of accumulated depreciation (including operating lease, right-of-use asset)
= 12,588 ÷ 15,513 = 0.81

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Corning Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Total Asset Turnover

Corning Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 12,588 14,189 14,082 11,303 11,503
Total assets 28,500 29,499 30,154 30,775 28,898
Long-term Activity Ratio
Total asset turnover1 0.44 0.48 0.47 0.37 0.40
Benchmarks
Total Asset Turnover, Competitors2
Apple Inc. 1.09 1.12 1.04 0.85 0.77
Arista Networks Inc. 0.59 0.65 0.51 0.49 0.58
Cisco Systems Inc. 0.56 0.55 0.51 0.52 0.53
Super Micro Computer Inc. 1.94 1.62 1.59 1.74 2.08
Total Asset Turnover, Sector
Technology Hardware & Equipment 0.97 1.00 0.92 0.77 0.72
Total Asset Turnover, Industry
Information Technology 0.59 0.63 0.61 0.57 0.58

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).

1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 12,588 ÷ 28,500 = 0.44

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Corning Inc. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Equity Turnover

Corning Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 12,588 14,189 14,082 11,303 11,503
Total Corning Incorporated shareholders’ equity 11,551 12,008 12,333 13,257 12,907
Long-term Activity Ratio
Equity turnover1 1.09 1.18 1.14 0.85 0.89
Benchmarks
Equity Turnover, Competitors2
Apple Inc. 6.17 7.78 5.80 4.20 2.88
Arista Networks Inc. 0.81 0.90 0.74 0.70 0.83
Cisco Systems Inc. 1.29 1.30 1.21 1.30 1.55
Super Micro Computer Inc. 3.61 3.64 3.25 3.13 3.72
Equity Turnover, Sector
Technology Hardware & Equipment 3.92 4.71 3.86 3.06 2.49
Equity Turnover, Industry
Information Technology 1.44 1.60 1.66 1.64 1.65

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).

1 2023 Calculation
Equity turnover = Net sales ÷ Total Corning Incorporated shareholders’ equity
= 12,588 ÷ 11,551 = 1.09

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Corning Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.