Corning Incorporated (GLW)
Total asset 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 |
| Total assets | US$ in thousands | 28,500,000 | 28,278,000 | 28,645,000 | 28,822,000 | 29,499,000 | 28,735,000 | 29,718,000 | 30,257,000 | 30,154,000 | 29,706,000 | 29,806,000 | 30,143,000 | 30,775,000 | 30,267,000 | 27,546,000 | 27,859,000 | 28,898,000 | 27,329,000 | 27,575,000 | 27,321,000 |
| Total asset turnover | 0.44 | 0.46 | 0.46 | 0.47 | 0.48 | 0.50 | 0.49 | 0.48 | 0.47 | 0.46 | 0.44 | 0.40 | 0.37 | 0.36 | 0.39 | 0.40 | 0.40 | 0.43 | 0.43 | 0.42 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $12,588,000K ÷ $28,500,000K
= 0.44
The total asset turnover ratio measures a company's efficiency in generating revenue from its assets. A higher ratio indicates that the company is more efficient in utilizing its assets to generate sales.
Based on the data provided for Corning, Inc., the total asset turnover has been fluctuating over the past eight quarters. The ratio ranged from 0.44 in Q4 2023 to 0.50 in Q3 2022. This suggests that Corning, Inc. has experienced some variation in its asset utilization efficiency during this period.
Overall, the trend indicates a gradual decline in total asset turnover from Q3 2022 to Q4 2023, with the ratio decreasing from 0.50 to 0.44. This decline may signal potential inefficiencies in the company's asset management or a decrease in sales generated per dollar of assets.
It is important for Corning, Inc. to closely monitor its total asset turnover ratio and investigate the factors contributing to the fluctuations to ensure optimal utilization of assets and improve overall financial performance.
Peer comparison
Dec 31, 2023