Corning Incorporated (GLW)
Receivables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 13,118,000 | 12,588,000 | 14,189,000 | 14,082,000 | 11,303,000 |
| Receivables | US$ in thousands | 2,053,000 | 1,572,000 | 1,721,000 | 2,004,000 | 2,133,000 |
| Receivables turnover | 6.39 | 8.01 | 8.24 | 7.03 | 5.30 |
December 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $13,118,000K ÷ $2,053,000K
= 6.39
To analyze Corning Incorporated's receivables turnover based on the provided data, we observe a trend of consistent improvement from 2020 to 2022, where the receivables turnover increased from 5.30 to 8.24. This indicates that the company's ability to collect its outstanding receivables improved significantly during this period.
However, there was a slight decline in 2023 to 8.01, followed by a more noticeable drop in 2024 to 6.39. Even though the receivables turnover decreased in the last two years, it is still higher than the base year of 2020, suggesting that Corning Incorporated continues to efficiently collect its receivables compared to the starting point.
Overall, the fluctuation in the receivables turnover ratio over the years indicates varying effectiveness in managing the collection of receivables. It would be important to further investigate the reasons behind the recent decline in the ratio to ensure sustainable and efficient working capital management.
Peer comparison
Dec 31, 2024