Corning Incorporated (GLW)
Cash conversion cycle
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 112.45 | 118.25 | 114.68 | 116.99 | 112.40 | 106.90 | 107.95 | 110.45 | 109.47 | 112.23 | 109.33 | 102.95 | 100.41 | 102.73 | 103.02 | 106.71 | 116.52 | 123.99 | 108.55 | 112.94 |
| Days of sales outstanding (DSO) | days | 57.12 | 57.48 | 50.69 | 47.77 | 45.58 | 48.43 | 45.89 | 45.01 | 44.27 | 40.89 | 44.69 | 48.17 | 51.94 | 56.09 | 57.13 | 56.83 | 68.88 | 71.14 | 58.38 | 56.26 |
| Number of days of payables | days | 60.76 | 66.26 | 62.69 | 63.65 | 61.81 | 58.75 | 59.48 | 64.12 | 68.00 | 68.76 | 74.58 | 72.71 | 65.24 | 58.23 | 56.63 | 57.49 | 55.14 | 56.49 | 53.86 | 60.15 |
| Cash conversion cycle | days | 108.81 | 109.47 | 102.68 | 101.12 | 96.18 | 96.59 | 94.36 | 91.35 | 85.74 | 84.37 | 79.44 | 78.41 | 87.11 | 100.60 | 103.53 | 106.05 | 130.26 | 138.63 | 113.07 | 109.04 |
December 31, 2024 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 112.45 + 57.12 – 60.76
= 108.81
The cash conversion cycle of Corning Incorporated has been fluctuating over the years based on the data provided. It measures the time it takes for the company to convert its resources into cash flows.
From March 31, 2020, to December 31, 2021, the cash conversion cycle ranged from 87.11 days to 138.63 days, indicating some variability in the company's efficiency in managing its cash flow, inventory, and receivables during this period.
The trend shows an improvement from December 31, 2021, reaching a low of 78.41 days on March 31, 2022, which may suggest that the company became more efficient in managing its working capital during that period. However, the cycle increased slightly in the following quarters, reaching 109.47 days on September 30, 2024.
Overall, the cash conversion cycle of Corning Incorporated shows some fluctuations but seems to have been relatively well managed within a certain range over the years, indicating the company's ability to effectively utilize its resources and generate cash flows.
Peer comparison
Dec 31, 2024