Corning Incorporated (GLW)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,931,000 | 4,506,000 | 5,063,000 | 3,531,000 | 4,035,000 |
| Revenue | US$ in thousands | 12,588,000 | 14,189,000 | 14,082,000 | 11,303,000 | 11,503,000 |
| Gross profit margin | 31.23% | 31.76% | 35.95% | 31.24% | 35.08% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,931,000K ÷ $12,588,000K
= 31.23%
The gross profit margin of Corning, Inc. has experienced fluctuations over the past five years. In 2023, the gross profit margin stood at 31.23%, showing a slight decrease from the previous year's margin of 31.76%. This decline suggests that the company may have faced challenges in maintaining its profitability during the most recent fiscal year.
Comparing the 2023 figure to earlier years, we observe a notable decrease from the high of 35.95% in 2021 and a similar pattern to the margin of 31.24% recorded in 2020. The gross profit margin of 31.23% in 2023 also falls below the margin of 35.08% achieved in 2019.
Overall, these fluctuations in the gross profit margin of Corning, Inc. indicate varying levels of efficiency in managing production costs and generating revenue from its core business operations over the past five years. Further analysis of the company's cost structure and revenue streams may be necessary to understand the factors contributing to these changes in profitability.
Peer comparison
Dec 31, 2023