Corning Incorporated (GLW)
Payables 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 |
| Payables | US$ in thousands | 1,472,000 | 1,565,000 | 1,466,000 | 1,476,000 | 1,466,000 | 1,459,000 | 1,519,000 | 1,662,000 | 1,804,000 | 1,808,000 | 1,934,000 | 1,849,000 | 1,612,000 | 1,396,000 | 1,312,000 | 1,272,000 | 1,174,000 | 1,176,000 | 1,109,000 | 1,250,000 |
| Payables turnover | 6.01 | 5.51 | 5.82 | 5.73 | 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 |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $8,842,000K ÷ $1,472,000K
= 6.01
Corning Incorporated's payables turnover ratio has exhibited fluctuations over the past few years, ranging from a low of 4.89 in June 2022 to a high of 6.78 in June 2020. The trend shows a general decline in the payables turnover ratio from 2022 to 2024, indicating that the company took longer to pay its suppliers during this period. However, it's worth noting that the ratio saw some slight improvement in the last two quarters of 2024.
A payables turnover ratio below industry averages may suggest that Corning Incorporated is taking longer to pay its suppliers, which could be an indication of financial distress, deteriorating supplier relationships, or inefficient working capital management. Conversely, a higher payables turnover ratio may imply better cash flow management and more favorable terms with suppliers.
Overall, it is important for Corning Incorporated to monitor and analyze the payables turnover ratio consistently to ensure efficient management of its accounts payable and maintain healthy relationships with its suppliers.
Peer comparison
Dec 31, 2024