Corning Incorporated (GLW)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,768,000 | 1,613,000 | 1,419,000 | 1,365,000 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 354,000 | — | — |
| Receivables | US$ in thousands | 2,053,000 | 1,986,000 | 1,721,000 | 1,621,000 | 1,572,000 | 1,725,000 | 1,674,000 | 1,688,000 | 1,721,000 | 1,620,000 | 1,786,000 | 1,910,000 | 2,004,000 | 2,114,000 | 2,057,000 | 1,900,000 | 2,133,000 | 2,099,000 | 1,712,000 | 1,708,000 |
| Total current liabilities | US$ in thousands | 4,919,000 | 4,637,000 | 4,526,000 | 4,175,000 | 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 |
| Quick ratio | 0.78 | 0.78 | 0.69 | 0.72 | 0.78 | 0.79 | 0.73 | 0.59 | 0.66 | 0.63 | 0.62 | 0.78 | 0.86 | 1.00 | 0.95 | 1.36 | 1.28 | 1.29 | 1.28 | 1.17 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,768,000K
+ $—K
+ $2,053,000K)
÷ $4,919,000K
= 0.78
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets.
Analyzing the quick ratio trend for Corning Incorporated from March 31, 2020, to December 31, 2024, shows some fluctuations. The quick ratio started at a reasonable 1.17 in March 2020, indicating a decent ability to cover short-term liabilities with liquid assets. The ratio improved slightly over the next few quarters, reaching a peak of 1.36 in March 2021, reflecting a stronger liquidity position.
However, starting from June 2021, there was a noticeable decline in the quick ratio, dropping to 0.62 by June 30, 2022. This significant decrease indicates potential liquidity challenges and may raise concerns about the company's ability to meet its short-term obligations.
There was a slight recovery in the quick ratio in the following quarters, but it remained below 1, indicating that Corning Incorporated may still have difficulties in meeting its short-term liabilities with its current liquid assets.
Overall, the trend in Corning Incorporated's quick ratio suggests a fluctuating liquidity position over the analyzed period, with some quarters demonstrating strength while others showing potential weaknesses. It is essential for the company to closely monitor and manage its liquidity to ensure it can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2024