Corning Incorporated (GLW)
Fixed asset turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 12,588,000 | 13,000,000 | 13,315,000 | 13,687,000 | 14,189,000 | 14,459,000 | 14,586,000 | 14,472,000 | 14,082,000 | 13,756,000 | 13,142,000 | 12,202,000 | 11,303,000 | 10,770,000 | 10,703,000 | 11,082,000 | 11,503,000 | 11,721,000 | 11,795,000 | 11,602,000 |
| Property, plant and equipment | US$ in thousands | 14,630,000 | 14,407,000 | 14,681,000 | 15,137,000 | 15,371,000 | 14,645,000 | 15,350,000 | 15,780,000 | 15,804,000 | 15,383,000 | 15,455,000 | 15,364,000 | 15,742,000 | 15,449,000 | 14,691,000 | 14,932,000 | 15,337,000 | 15,083,000 | 15,137,000 | 14,878,000 |
| Fixed asset turnover | 0.86 | 0.90 | 0.91 | 0.90 | 0.92 | 0.99 | 0.95 | 0.92 | 0.89 | 0.89 | 0.85 | 0.79 | 0.72 | 0.70 | 0.73 | 0.74 | 0.75 | 0.78 | 0.78 | 0.78 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $12,588,000K ÷ $14,630,000K
= 0.86
The fixed asset turnover ratio for Corning, Inc. has been relatively stable over the past eight quarters, ranging between 0.86 and 0.99. This ratio indicates how efficiently the company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio is generally preferred as it suggests that the company is generating more sales per dollar of fixed assets.
In this case, the fluctuation in the ratio between 0.86 and 0.99 may signify changes in the company's operational efficiency in utilizing its fixed assets. A ratio close to 1.0 implies that Corning, Inc. is effectively using its fixed assets to generate sales revenue, whereas a ratio below 1.0 may indicate underutilization of fixed assets.
It would be beneficial to compare Corning's fixed asset turnover ratio with industry averages or its competitors to gain a better understanding of its performance in this aspect. Additionally, further analysis and examination of the company's financial statements and operational activities could provide more insights into the factors impacting the fluctuations in the fixed asset turnover ratio.
Peer comparison
Dec 31, 2023
See also:
Corning Incorporated Net Fixed Asset Turnover (Quarterly Data)