Corning Incorporated (GLW)
Days of inventory on hand (DOH)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 3.25 | 3.09 | 3.18 | 3.12 | 3.25 | 3.41 | 3.38 | 3.30 | 3.33 | 3.25 | 3.34 | 3.55 | 3.64 | 3.55 | 3.54 | 3.42 | 3.13 | 2.94 | 3.36 | 3.23 | |
| DOH | days | 112.45 | 118.25 | 114.68 | 116.99 | 112.40 | 106.90 | 107.95 | 110.45 | 109.47 | 112.23 | 109.33 | 102.95 | 100.41 | 102.73 | 103.02 | 106.71 | 116.52 | 123.99 | 108.55 | 112.94 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.25
= 112.45
The days of inventory on hand (DOH) for Corning Incorporated have fluctuated over the past few years, indicating varying efficiency in managing its inventory levels.
From March 31, 2020, to June 30, 2021, the DOH decreased steadily from 112.94 days to 103.02 days, suggesting improved inventory turnover and potentially more efficient inventory management during this period. This decline in DOH indicates that Corning was holding less inventory for a shorter period, which could positively impact the company's cash flow and working capital.
However, from September 30, 2021, to September 30, 2022, the DOH started to increase again, reaching a peak of 118.25 days on September 30, 2024, before slightly decreasing to 112.45 days on December 31, 2024. This upward trend in DOH may indicate challenges in managing inventory effectively, such as overstocking or slower inventory turnover, which could tie up working capital and increase holding costs.
Overall, Corning Incorporated should closely monitor its DOH to ensure it maintains an optimal balance between holding enough inventory to meet demand while minimizing excess inventory that could lead to additional costs and reduced liquidity.
Peer comparison
Dec 31, 2024
See also:
Corning Incorporated Average Inventory Processing Period (Quarterly Data)