Corning Incorporated (GLW)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 3,931,000 | 3,935,000 | 3,993,000 | 4,226,000 | 4,506,000 | 4,862,000 | 5,121,000 | 5,190,000 | 5,063,000 | 5,005,000 | 4,685,000 | 4,126,000 | 3,531,000 | 3,172,000 | 3,188,000 | 3,497,000 | 4,035,000 | 4,383,000 | 4,598,000 | 4,605,000 |
| Revenue (ttm) | US$ in thousands | 12,588,000 | 13,000,000 | 13,315,000 | 13,687,000 | 14,189,000 | 14,459,000 | 14,586,000 | 14,472,000 | 14,082,000 | 13,756,000 | 13,142,000 | 12,202,000 | 11,303,000 | 10,770,000 | 10,703,000 | 11,082,000 | 11,503,000 | 11,721,000 | 11,795,000 | 11,602,000 |
| Gross profit margin | 31.23% | 30.27% | 29.99% | 30.88% | 31.76% | 33.63% | 35.11% | 35.86% | 35.95% | 36.38% | 35.65% | 33.81% | 31.24% | 29.45% | 29.79% | 31.56% | 35.08% | 37.39% | 38.98% | 39.69% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,931,000K ÷ $12,588,000K
= 31.23%
Based on the data provided, Corning, Inc.'s gross profit margin has shown a declining trend over the past eight quarters. The gross profit margin decreased from 35.86% in Q1 2022 to 31.23% in Q4 2023. This decline indicates that the company's cost of goods sold as a percentage of revenue has been increasing relative to the revenue generated from sales during the period. It is important to further investigate the factors contributing to this decline in the gross profit margin to assess the company's operational efficiency and profitability.
Peer comparison
Dec 31, 2023