Corning Incorporated (GLW)
Current ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| 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 |
| Current ratio | 1.62 | 1.67 | 1.44 | 1.59 | 2.12 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $7,992,000K ÷ $4,919,000K
= 1.62
The current ratio for Corning Incorporated has shown some fluctuations over the past five years. In December 2020, the current ratio was 2.12, indicating that the company had more than twice the current assets compared to its current liabilities. However, by December 2022, the current ratio had decreased to 1.44, suggesting a decrease in the company's ability to cover its short-term obligations.
In the following years, the current ratio improved slightly to 1.67 in December 2023 and then decreased again to 1.62 by December 2024. Overall, while the current ratio has fluctuated over the period, it generally indicates that Corning Incorporated has been able to meet its short-term obligations with its current assets, albeit with some variability. Monitoring this ratio closely can provide insights into the company's liquidity and ability to manage its short-term financial commitments.
Peer comparison
Dec 31, 2024