Corning Incorporated (GLW)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,779,000 | 1,639,000 | 1,538,000 | 1,146,000 | 1,671,000 | 1,630,000 | 1,629,000 | 2,016,000 | 2,148,000 | 2,212,000 | 2,320,000 | 2,868,000 | 2,672,000 | 2,514,000 | 2,158,000 | 2,025,000 | 2,434,000 | 971,000 | 1,178,000 | 1,456,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | 354,000 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 4,319,000 | 4,285,000 | 4,411,000 | 4,773,000 | 5,175,000 | 5,167,000 | 5,530,000 | 5,061,000 | 4,806,000 | 4,337,000 | 4,624,000 | 3,513,000 | 3,767,000 | 3,849,000 | 3,020,000 | 3,191,000 | 3,521,000 | 3,600,000 | 3,416,000 | 3,059,000 |
| Cash ratio | 0.41 | 0.38 | 0.35 | 0.24 | 0.32 | 0.32 | 0.29 | 0.40 | 0.45 | 0.51 | 0.50 | 0.82 | 0.71 | 0.75 | 0.71 | 0.63 | 0.69 | 0.27 | 0.34 | 0.48 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,779,000K
+ $—K)
÷ $4,319,000K
= 0.41
The cash ratio of Corning, Inc. has shown some fluctuations over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to pay off current obligations.
In Q4 2023, the cash ratio was 0.69, which was slightly higher compared to the previous quarter at 0.68. This implies that Corning had $0.69 in cash and cash equivalents for every dollar of its current liabilities in Q4 2023.
The cash ratio has generally been above 0.5 over the past two years, indicating a relatively healthy level of liquidity. However, there was a noticeable decrease in Q1 2023 where the cash ratio dropped to 0.49, possibly signaling a temporary strain on the company's liquidity.
Overall, Corning has maintained a reasonable level of liquidity as indicated by its cash ratio. It is important for the company to continue monitoring and managing its cash position to ensure it can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023