Corning Incorporated (GLW)
Working capital 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 |
| Total current assets | US$ in thousands | 7,992,000 | 7,212,000 | 7,453,000 | 7,659,000 | 8,004,000 |
| Total current liabilities | US$ in thousands | 4,919,000 | 4,319,000 | 5,175,000 | 4,806,000 | 3,767,000 |
| Working capital turnover | 4.27 | 4.35 | 6.23 | 4.94 | 2.67 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $13,118,000K ÷ ($7,992,000K – $4,919,000K)
= 4.27
The working capital turnover ratio for Corning Incorporated has shown a consistent upward trend from 2.67 in 2020 to 4.27 in 2024. This indicates that the company is becoming more efficient in utilizing its working capital to generate sales revenue. The significant increase in the ratio over the years suggests that Corning has been able to efficiently manage its current assets and liabilities to support its operations and sales activities. The improvement in working capital turnover reflects the company's ability to optimize its resources and financial position, which could lead to improved profitability and overall financial performance in the future.
Peer comparison
Dec 31, 2024