Corning Incorporated (GLW)
Inventory 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 8,657,000 | 9,065,000 | 9,322,000 | 9,461,000 | 9,683,000 | 9,597,000 | 9,465,000 | 9,282,000 | 9,019,000 | 8,751,000 | 8,457,000 | 8,076,000 | 7,772,000 | 7,598,000 | 7,515,000 | 7,585,000 | 7,468,000 | 7,338,000 | 7,197,000 | 6,997,000 |
| Inventory | US$ in thousands | 2,666,000 | 2,655,000 | 2,757,000 | 2,863,000 | 2,904,000 | 2,951,000 | 2,835,000 | 2,618,000 | 2,481,000 | 2,463,000 | 2,387,000 | 2,361,000 | 2,481,000 | 2,581,000 | 2,235,000 | 2,347,000 | 2,320,000 | 2,337,000 | 2,291,000 | 2,190,000 |
| Inventory turnover | 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 | 3.22 | 3.14 | 3.14 | 3.19 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $8,657,000K ÷ $2,666,000K
= 3.25
The inventory turnover ratio for Corning, Inc. shows some variability over the past eight quarters, ranging from 3.25 in Q4 2023 to 3.55 in Q1 2022. Overall, the average inventory turnover ratio for the period is moderate, indicating that the company is selling its inventory approximately three to four times a year. The slight fluctuations in the inventory turnover ratio suggest that the company may be managing its inventory levels effectively to meet customer demand while minimizing excess inventory holding costs. It is essential for Corning to monitor its inventory turnover ratio continually to ensure optimal inventory management and efficient use of resources.
Peer comparison
Dec 31, 2023
Dec 31, 2023