Corning Incorporated (GLW)
Fixed asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 13,118,000 | 12,588,000 | 14,189,000 | 14,082,000 | 11,303,000 |
| Property, plant and equipment | US$ in thousands | 13,359,000 | 14,630,000 | 15,371,000 | 15,804,000 | 15,742,000 |
| Fixed asset turnover | 0.98 | 0.86 | 0.92 | 0.89 | 0.72 |
December 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $13,118,000K ÷ $13,359,000K
= 0.98
The fixed asset turnover ratio of Corning Incorporated has shown a fluctuating trend over the five-year period from December 31, 2020, to December 31, 2024. The ratio increased from 0.72 in 2020 to 0.98 in 2024, indicating that the company generated $0.98 in revenue for every dollar invested in fixed assets by the end of 2024. This improvement suggests that Corning has become more efficient in utilizing its fixed assets to generate sales. However, it is worth noting that there was some variability in the ratio throughout the period, with a peak of 0.92 in 2022 and a decline to 0.86 in 2023. This variability could be attributed to changes in the company's operational efficiency, asset utilization, or revenue generation strategies. Overall, the increasing trend in the fixed asset turnover ratio indicates a positive development in Corning's operational performance and asset management over the five-year period.
Peer comparison
Dec 31, 2024