Corning Incorporated (GLW)
Fixed asset turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 13,118,000 | 12,611,000 | 12,393,000 | 12,385,000 | 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 |
| Property, plant and equipment | US$ in thousands | 13,359,000 | 14,059,000 | 13,742,000 | 14,199,000 | 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 |
| Fixed asset turnover | 0.98 | 0.90 | 0.90 | 0.87 | 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 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $13,118,000K ÷ $13,359,000K
= 0.98
Fixed asset turnover measures how efficiently a company is utilizing its fixed assets to generate revenue. A higher ratio indicates better utilization of fixed assets.
Analyzing the fixed asset turnover trend for Corning Incorporated from March 31, 2020, to December 31, 2024, we see a fluctuating pattern. The ratio started at 0.74 in March 2020 and experienced some fluctuations over the quarters, with a slight decrease to 0.70 in September 2020 before improving to 0.95 in June 2022.
From September 2022 to December 2024, the ratio ranged between 0.86 to 0.98, showing relative stability with some minor fluctuations. The ratio peaked at 0.99 in September 2022, indicating improved efficiency in utilizing fixed assets to generate revenue during that period.
Overall, the general trend suggests that Corning Incorporated has made efforts to enhance its efficiency in utilizing fixed assets efficiently. The company experienced fluctuations, but the ratio generally remained within a certain range, reflecting stable performance in this aspect. It is essential for Corning to monitor this ratio continuously to ensure optimal use of fixed assets in driving revenue growth.
Peer comparison
Dec 31, 2024
See also:
Corning Incorporated Net Fixed Asset Turnover (Quarterly Data)