Corning Incorporated (GLW)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 890,000 | 1,438,000 | 2,112,000 | 509,000 | 1,306,000 |
| Revenue | US$ in thousands | 12,588,000 | 14,189,000 | 14,082,000 | 11,303,000 | 11,503,000 |
| Operating profit margin | 7.07% | 10.13% | 15.00% | 4.50% | 11.35% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $890,000K ÷ $12,588,000K
= 7.07%
The operating profit margin of Corning, Inc. has fluctuated over the past five years. In 2023, the operating profit margin was 7.07%, showing a decrease from the previous year's margin of 10.13% in 2022. This decrease suggests a decline in the company's ability to generate profits from its core business operations.
Comparing the 2023 margin to that of 2021 and 2019, where the margins were 15.00% and 11.35% respectively, it is evident that there has been a significant downward trend in the profitability of the company over the past few years. The sharp decline from the high of 15.00% in 2021 to the current level of 7.07% indicates potential challenges or changing dynamics in the company's operations.
The operating profit margin of 4.50% in 2020 stands out as an outlier, significantly lower than the margins in surrounding years. This could indicate a specific one-time event or financial anomaly impacting the company's profitability in that particular year.
Overall, the trend in Corning, Inc.'s operating profit margin reflects varying levels of operational efficiency and profitability over the years, highlighting the importance of closely monitoring financial performance metrics to identify potential areas for improvement and strategic decision-making.
Peer comparison
Dec 31, 2023