Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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Profitability Ratios (Summary)
Corning Inc., profitability 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).
- Gross Profit Margin
- The gross profit margin experienced a decline from 35.08% in March 2020 to a low of 29.45% in December 2020. Subsequently, it recovered, reaching a peak of 36.38% in December 2021. Following this peak, a gradual downward trend is noted, with the margin decreasing to approximately 30-31% by the first quarter of 2024.
- Operating Profit Margin
- The operating profit margin demonstrated significant volatility over the period. Starting at 11.35% in March 2020, it sharply decreased to 1.67% by December 2020. A strong rebound followed, with the margin peaking at 15.3% in December 2021. Thereafter, the margin steadily declined, reaching around 6.8% by March 2024.
- Net Profit Margin
- The net profit margin mirrored the pattern observed in operating margin, starting at 8.35% in March 2020. It dropped to its lowest point of 1.89% in September 2020, then climbed steadily to a high of 13.54% in December 2021. Post-peak, the margin fell gradually to just under 5% by early 2024.
- Return on Equity (ROE)
- The ROE followed a comparable trend, beginning at 7.44% in March 2020 with a decline to 1.68% in September 2020. A robust recovery ensued, reaching up to 17.06% in September 2022 before declining somewhat to approximately 5-5.5% by March 2024. Notably, returns were highest in the latter half of 2021 and 2022.
- Return on Assets (ROA)
- The ROA gradually increased from 3.32% in March 2020 through to 6.74% in September 2022, indicating improved asset efficiency. After this peak, a decline occurred, with ROA dropping to about 2.2% by March 2024. The trend suggests a cyclical pattern of asset profitability.
- Overall Analysis
- The financial metrics exhibit a general pattern of decline during the early to late 2020 period, likely influenced by external economic conditions, followed by strong recovery through 2021 and into 2022. Margins and returns peaked primarily between late 2021 and mid-2022, and have since returned to more moderate levels. The gradual decrease in profitability and returns after the peak period may warrant further investigation into cost management, revenue pressures, or changes in operational efficiency. Stability in gross profit margin despite declining operating and net margins suggests rising operating expenses could be a contributing factor to compressed profitability in the recent quarters.
Return on Sales
Return on Investment
Gross Profit Margin
Corning Inc., gross profit margin 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) | ||||||||||||||||||||||||||||
| Gross margin | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
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
Gross profit margin = 100
× (Gross marginQ1 2024
+ Gross marginQ4 2023
+ Gross marginQ3 2023
+ Gross marginQ2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Sales
- The net sales figures exhibit some fluctuations over the reported periods, starting at $2,812 million in March 2019 and peaking at $3,676 million in December 2021. There is a noticeable decline beginning in early 2022, with sales gradually decreasing to $2,975 million by March 2024. This indicates a reduction in revenue-generating activity following the peak period, suggesting possible market challenges or seasonal variations.
- Gross Margin
- Gross margin values show considerable variability in the measured intervals. After a decline from $1,099 million in March 2019 to a low of $561 million in March 2020, gross margin subsequently recovers and reaches $1,321 million by September 2021. Following this high point, the metric trends downwards again, falling to $993 million by March 2024. This pattern correlates broadly with fluctuations in net sales but reflects additional factors affecting profitability at the gross level.
- Gross Profit Margin Percentage
- Gross profit margin percentage data starts from March 2020 with a value of 35.08% and demonstrates a downward pattern until December 2020, where it reaches approximately 29.45%. Subsequently, there is a recovery phase lasting until September 2021, achieving a peak of 36.38%. From 2022 onward, the margin percentage exhibits a gradual decline with modest volatility, settling around 31.66% in March 2024. This suggests some pressure on cost efficiency or pricing strategies impacting the overall profitability margin.
- Overall Observations
- The data reveal a cyclical trend within the company’s sales and profitability metrics. Net sales and gross margin values rise and fall in similar phases, reflecting external or internal factors influencing revenue and cost structure. The gross profit margin percentage's fluctuations indicate changes in cost controls, pricing, or product mix affecting profitability independently from sales volume. The decline in both sales and margins post-2021 suggests potential challenges such as market saturation, increased competition, or rising costs.
Operating Profit Margin
Corning Inc., operating profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Operating income (loss) | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
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
Operating profit margin = 100
× (Operating income (loss)Q1 2024
+ Operating income (loss)Q4 2023
+ Operating income (loss)Q3 2023
+ Operating income (loss)Q2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data reveals several notable trends over the analyzed periods. Net sales exhibit an overall fluctuating pattern with periods of growth and decline. Beginning with approximately $2.8 billion in early 2019, sales experienced a decline around the first half of 2020, coinciding with negative operating income during that period. Following this downturn, net sales recovered and peaked in late 2021 at about $3.7 billion but experienced a downward trend through 2023 and into early 2024, ending near $3.0 billion.
Operating income displays significant volatility. It started strong in 2019 but then turned negative in the first two quarters of 2020, likely reflecting economic challenges or operational difficulties during that period. Subsequently, operating income rebounded sharply in late 2020 and continued to show robust performance through 2021. However, from 2022 onward, operating income shows a declining trend with notable decreases in the final quarters of 2022 while remaining positive, followed by fluctuations with substantially lower values by early 2024.
Operating profit margin data, available starting in late 2019, confirms these trends. The margin dropped sharply in early 2020, aligning with the negative operating income periods. It then improved consistently, peaking above 15% in late 2021, which corresponds with the highest levels of operating income. From 2022 forward, the margin experienced a gradual decrease, falling to around 7% by early 2024, suggesting reduced profitability despite the persistence of positive operating income.
In summary, the trends suggest the company underwent a challenging phase in the first half of 2020, followed by a strong recovery period with improving sales, income, and margins into 2021. The subsequent quarters show signs of weakening performance with declining sales and profitability metrics, indicating pressure on operating efficiencies or market conditions in recent periods.
- Net Sales
- Showed a dip during the first half of 2020, a strong recovery thereafter, peaking in late 2021, but declined gradually through 2022 to early 2024.
- Operating Income
- Experienced losses in early 2020, recovered strongly in late 2020 and 2021, then declined with fluctuations throughout 2022 and early 2024.
- Operating Profit Margin
- Declined sharply in early 2020, increased to peak above 15% in late 2021, but progressively declined to about 7% by early 2024.
Net Profit Margin
Corning Inc., net profit margin 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) | ||||||||||||||||||||||||||||
| Net income (loss) attributable to Corning Incorporated | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
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
Net profit margin = 100
× (Net income (loss) attributable to Corning IncorporatedQ1 2024
+ Net income (loss) attributable to Corning IncorporatedQ4 2023
+ Net income (loss) attributable to Corning IncorporatedQ3 2023
+ Net income (loss) attributable to Corning IncorporatedQ2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income (Loss) Trend
- The net income attributable to the company exhibited considerable volatility over the observed periods. Initially, fluctuating values were noted, with a low point around early 2020, including negative results in the first two quarters of 2020. Following that, net income generally improved through 2021 and early 2022, reaching several peaks. However, in late 2022 and throughout 2023, the net income figures again showed variability, with some quarters reflecting modest incomes and others lower or negative values, indicating an overall cyclical pattern without sustained growth.
- Net Sales Trend
- Net sales displayed a generally upward trajectory from the first quarter of 2019 through 2021, with a peak observed in the fourth quarter of 2021. After that, sales began to taper off, showing a gradual decline across 2022 and into the first quarter of 2024. Despite fluctuations, net sales remained within a relatively consistent range, suggesting stable but not rapidly expanding revenue generation during much of the period.
- Net Profit Margin Analysis
- The net profit margin was absent from earlier quarters but appeared starting in late 2019. From that point, the margin showed an increasing trend through 2021, peaking at over 13%. This improvement indicates enhanced operational profitability or cost management during this time. Following this peak, profit margins decreased steadily into 2023, stabilizing around 4.5-5% in the most recent quarters. The decline in margins despite relatively stable sales might reflect rising costs, pricing pressures, or changing product mix.
- Overall Financial Performance Insights
- The data reveals periods of both growth and contraction in profitability and sales. While net sales grew substantially until late 2021, this growth was followed by a slow decline. Net income growth was inconsistent, with some quarters marked by losses and others by healthy gains. Profit margins, after reaching highs in 2021, have decreased, highlighting potential challenges in maintaining profit levels. The variability within 2022 and 2023 suggests external or internal factors impacting financial results, warranting further investigation into cost structures, market conditions, or operational efficiency.
Return on Equity (ROE)
Corning Inc., ROE 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) | ||||||||||||||||||||||||||||
| Net income (loss) attributable to Corning Incorporated | ||||||||||||||||||||||||||||
| Total Corning Incorporated shareholders’ equity | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
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
ROE = 100
× (Net income (loss) attributable to Corning IncorporatedQ1 2024
+ Net income (loss) attributable to Corning IncorporatedQ4 2023
+ Net income (loss) attributable to Corning IncorporatedQ3 2023
+ Net income (loss) attributable to Corning IncorporatedQ2 2023)
÷ Total Corning Incorporated shareholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data over the observed periods reveal notable fluctuations in net income attributable to the company. Initially, net income showed variability, with a significant dip into negative values in early 2020, followed by a recovery and peak in early 2021. Subsequently, the net income trend exhibited a decline through the end of 2022, including some negative quarters, before experiencing moderate recovery signals towards the first quarter of 2024.
Shareholders’ equity exhibited a general downward trend over the analyzed timeframe. Starting from a higher base in early 2019, equity values gradually decreased with intermittent fluctuations, reaching lower levels by the end of the period in early 2024. This trend suggests possible capital attrition or distribution events exceeding capital accumulation.
Return on equity (ROE) percentages, available for the latter part of the period, demonstrate a volatile but generally declining trajectory after peaking in the early 2021 quarters. ROE peaked above 15% in several quarters of 2021 and 2022, indicating strong profitability relative to shareholders’ equity during this period. However, after 2022, there was a notable decline in ROE, stabilizing around the mid-single digits by early 2024, reflecting reduced profitability efficiency.
- Net Income Analysis
- Marked by volatility, including negative results during early 2020 and late 2022 quarters, with intermittent peaks in early 2021 and mid-2022.
- Shareholders’ Equity
- An overall downward movement, indicating a reduction in equity base over time, possibly due to losses or distributions exceeding profits.
- Return on Equity (ROE)
- Growth in ROE during 2021 and 2022, followed by a steady decline into 2023 and early 2024, suggesting diminished return efficiency against equity.
In summary, the company demonstrated periods of strong profitability and efficiency in 2021 and parts of 2022 but faced challenges in maintaining income stability and equity growth through the latter quarters. The declining ROE trend toward the end of the period calls for attention to operational or financial factors impacting overall performance.
Return on Assets (ROA)
Corning Inc., ROA 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) | ||||||||||||||||||||||||||||
| Net income (loss) attributable to Corning Incorporated | ||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
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
ROA = 100
× (Net income (loss) attributable to Corning IncorporatedQ1 2024
+ Net income (loss) attributable to Corning IncorporatedQ4 2023
+ Net income (loss) attributable to Corning IncorporatedQ3 2023
+ Net income (loss) attributable to Corning IncorporatedQ2 2023)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends and fluctuations over the observed periods.
- Net Income (Loss) Attributable to Corning Incorporated
-
The net income figures exhibit considerable volatility across the quarters. Starting from a positive 499 million USD in March 2019, the net income dropped sharply to 92 million USD by June 2019, followed by a recovery to 337 million USD in September 2019. A steep decline occurred in December 2019 with only 32 million USD, transitioning into losses in early 2020 (-96 and -71 million USD in March and June respectively). Thereafter, the company experienced fluctuations with net income returning to positive territory and peaking at 599 million USD in March 2021. Following this peak, the figures generally trended downward with intermittent positive quarters and some negative results, particularly in late 2022 and early 2024 quarters. The data indicates a pattern of cyclical earnings with occasional recoveries amidst periods of decline.
- Total Assets
-
Total assets have shown relative stability with moderate fluctuations. Starting at approximately 27.3 billion USD in March 2019, the asset base increased to reach a peak above 30 billion USD in late 2020. Following this peak, there is a gradual downward trend with total assets declining to around 27.6 billion USD by March 2024. This suggests a conservative approach to asset growth, with some asset reductions or adjustments during the final observed quarters.
- Return on Assets (ROA)
-
ROA data is missing for the earliest periods but available data shows an increasing trend starting in early 2020. From a low of approximately 0.73% in September 2019, ROA rose significantly, peaking between 5.63% and 6.74% during 2021 and early 2022. Post this peak period, a decline in ROA is evident through 2022 and 2023, with values reducing to around 2% by the end of 2023 and early 2024. This indicates a peak phase of asset efficiency that has tapered off in the more recent quarters, possibly correlating with the variability observed in net income.
Overall, the company has experienced volatility in profitability with periods of strong earnings performance interspersed with losses. Asset levels have remained relatively stable with minor fluctuations, while asset efficiency as measured by ROA peaked around 2021 and has since declined. This pattern may reflect operational challenges or market conditions impacting profitability despite a stable asset base.