Corning Incorporated (GLW)
Inventory 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 8,842,000 | 8,621,000 | 8,536,000 | 8,464,000 | 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 |
| Inventory | US$ in thousands | 2,724,000 | 2,793,000 | 2,682,000 | 2,713,000 | 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 |
| 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 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $8,842,000K ÷ $2,724,000K
= 3.25
The inventory turnover ratio for Corning Incorporated has shown variations over the reported periods. Starting at 3.23 in March 2020, the ratio increased to 3.54 by June 2021, indicating that the company was selling its inventory more frequently during that period. However, by December 2024, the ratio decreased to 3.25, suggesting a slowdown in inventory turnover.
Overall, the average inventory turnover for Corning Incorporated during the reported periods appears to be around 3.30. A higher inventory turnover ratio typically indicates efficient management of inventory levels and a faster conversion of inventory into sales. On the other hand, a lower ratio may signal excess inventory or potential difficulties in selling products.
It is important for stakeholders to monitor changes in the inventory turnover ratio to assess the company's inventory management practices and operational efficiency. Analyzing trends in inventory turnover can provide valuable insights into the company's ability to generate sales from its inventory and optimize working capital.
Peer comparison
Dec 31, 2024
Dec 31, 2024