Corning Incorporated (GLW)
Receivables turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 12,588,000 | 13,000,000 | 13,315,000 | 13,687,000 | 14,189,000 | 14,459,000 | 14,586,000 | 14,472,000 | 14,082,000 | 13,756,000 | 13,142,000 | 12,202,000 | 11,303,000 | 10,770,000 | 10,703,000 | 11,082,000 | 11,503,000 | 11,721,000 | 11,795,000 | 11,602,000 |
| Receivables | US$ in thousands | 1,572,000 | 1,725,000 | 1,674,000 | 1,688,000 | 1,721,000 | 1,620,000 | 1,786,000 | 1,910,000 | 2,004,000 | 2,114,000 | 2,057,000 | 1,900,000 | 2,133,000 | 2,099,000 | 1,712,000 | 1,708,000 | 1,836,000 | 2,024,000 | 2,103,000 | 1,974,000 |
| Receivables turnover | 8.01 | 7.54 | 7.95 | 8.11 | 8.24 | 8.93 | 8.17 | 7.58 | 7.03 | 6.51 | 6.39 | 6.42 | 5.30 | 5.13 | 6.25 | 6.49 | 6.27 | 5.79 | 5.61 | 5.88 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $12,588,000K ÷ $1,572,000K
= 8.01
The receivables turnover ratio of Corning, Inc. has shown some fluctuation over the past eight quarters. It ranged from a low of 7.54 in Q3 2023 to a high of 8.93 in Q3 2022. This ratio measures how efficiently the company is collecting on its credit sales. A higher turnover ratio indicates that the company is collecting its accounts receivable more quickly. Overall, Corning, Inc. has maintained a relatively stable performance in managing its receivables turnover, with an average ratio of approximately 8.09 over the past two years.
Peer comparison
Dec 31, 2023