Corning Incorporated (GLW)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,768,000 | 1,779,000 | 1,671,000 | 2,148,000 | 2,672,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 4,919,000 | 4,319,000 | 5,175,000 | 4,806,000 | 3,767,000 |
| Cash ratio | 0.36 | 0.41 | 0.32 | 0.45 | 0.71 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,768,000K
+ $—K)
÷ $4,919,000K
= 0.36
The cash ratio of Corning Incorporated has shown a decreasing trend over the years, starting at 0.71 on December 31, 2020, and reaching 0.36 on December 31, 2024. This indicates that the company's ability to cover its short-term liabilities solely from its cash and cash equivalents has weakened over this period. While a declining cash ratio may raise concerns about liquidity risk, it is essential to consider other liquidity measures and factors such as the company's operating cash flow and access to external sources of funding to get a holistic view of its financial health.
Peer comparison
Dec 31, 2024