Corning Incorporated (GLW)

Number of days of payables

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
Payables turnover 5.91 6.21 6.14 5.69 5.37 5.31 4.89 5.02 5.59 6.27 6.45 6.35 6.62 6.46 6.78 6.07 4.71 5.07 5.55 5.47
Number of days of payables days 61.81 58.75 59.48 64.12 68.00 68.76 74.58 72.71 65.24 58.23 56.63 57.49 55.14 56.49 53.86 60.15 77.56 71.98 65.78 66.67

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.91
= 61.81

Corning, Inc.'s number of days of payables has shown a varying trend over the past eight quarters. The number of days for Q4 2023 was 61.81 days, a slight increase compared to the previous quarter at 58.75 days in Q3 2023. This increase may indicate that the company is taking slightly longer to pay its obligations to suppliers. However, it is worth noting that the number of days in Q4 2023 is lower than in Q1 2023, which was 64.12 days.

Compared to the same quarter of the previous year, there has been a general decrease in the number of days of payables, as evidenced by a higher average in Q4 2022 at 68.00 days. This downward trend suggests that Corning, Inc. has been managing its payables more efficiently over time.

Overall, while there are fluctuations in the number of days of payables quarter to quarter, Corning, Inc. seems to be effectively managing its payment obligations to suppliers. It would be beneficial to continue monitoring this ratio to ensure that the company maintains a healthy balance in its payables turnover.

Peer comparison

Dec 31, 2023

Company name
Symbol
Number of days of payables
Corning Incorporated
GLW
61.81
Belden Inc
BDC
80.45

See also:

Corning Incorporated Average Payables Payment Period (Quarterly Data)