Corning Incorporated (GLW)
Receivables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 13,118,000 | 12,611,000 | 12,393,000 | 12,385,000 | 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 |
| Receivables | US$ in thousands | 2,053,000 | 1,986,000 | 1,721,000 | 1,621,000 | 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 |
| Receivables turnover | 6.39 | 6.35 | 7.20 | 7.64 | 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 |
December 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $13,118,000K ÷ $2,053,000K
= 6.39
The receivables turnover ratio for Corning Incorporated has exhibited some fluctuations over the period analyzed. The ratio measures how efficiently the company is able to collect on its credit sales during a specific period. A higher turnover ratio generally indicates that the company is collecting its accounts receivables more quickly.
From March 31, 2020, to June 30, 2022, the receivables turnover steadily increased from 6.49 to 8.17, suggesting that Corning Incorporated was improving its efficiency in collecting receivables during this time frame. However, from June 30, 2022, to December 31, 2024, the ratio showed some volatility, fluctuating between 6.35 and 8.93.
Overall, the company seems to have a generally healthy receivables turnover ratio, staying above 6 for most of the period. The higher turnover ratios observed in the latter half of the analyzed period could imply that Corning Incorporated became more efficient in managing its accounts receivables, potentially leading to improved cash flows and working capital management. However, the fluctuations in the ratio may also signify changes in the company's credit policies, customer base, or economic conditions that affected its collection process.
Peer comparison
Dec 31, 2024