Corning Incorporated (GLW)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 4,276,000 | 3,931,000 | 4,506,000 | 5,063,000 | 3,531,000 |
| Revenue | US$ in thousands | 13,118,000 | 12,588,000 | 14,189,000 | 14,082,000 | 11,303,000 |
| Gross profit margin | 32.60% | 31.23% | 31.76% | 35.95% | 31.24% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $4,276,000K ÷ $13,118,000K
= 32.60%
Corning Incorporated's gross profit margin has exhibited fluctuations over the five-year period from December 31, 2020, to December 31, 2024. The margin increased from 31.24% in 2020 to 35.95% in 2021, signifying an improvement in the company's ability to generate profits from its core operations. However, in the subsequent years, there was a decline in the gross profit margin, with figures of 31.76% in 2022, 31.23% in 2023, and a slight recovery to 32.60% in 2024.
The fluctuation in the gross profit margin may be attributed to various factors such as changes in input costs, pricing strategies, competitive pressures, and market dynamics. While the increase in 2021 was favorable, the subsequent decreases suggest potential challenges in maintaining profitability levels. It is essential for Corning Incorporated to monitor and address the underlying reasons for these fluctuations to ensure sustainable profitability and operational efficiency in the future.
Peer comparison
Dec 31, 2024