Corning Incorporated (GLW)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 12,588,000 | 14,189,000 | 14,082,000 | 11,303,000 | 11,503,000 |
| Receivables | US$ in thousands | 1,572,000 | 1,721,000 | 2,004,000 | 2,133,000 | 1,836,000 |
| Receivables turnover | 8.01 | 8.24 | 7.03 | 5.30 | 6.27 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $12,588,000K ÷ $1,572,000K
= 8.01
Corning, Inc.'s receivables turnover has shown fluctuations over the past five years. The ratio increased from 6.27 in 2019 to 8.01 in 2023 before slightly declining to 8.24 in 2022. This suggests that the company is collecting its accounts receivable more efficiently in recent years. The receivables turnover was relatively lower in 2020 at 5.30, indicating a potential delay in collecting receivables that year. However, the ratio improved in 2021 to 7.03, reflecting better receivables management compared to the previous year. Overall, Corning, Inc. has shown a generally positive trend in receivables turnover, indicating effectiveness in converting its credit sales into cash.
Peer comparison
Dec 31, 2023