Corning Incorporated (GLW)
Operating return on assets (Operating ROA)
| 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 |
| Total assets | US$ in thousands | 28,500,000 | 29,499,000 | 30,154,000 | 30,775,000 | 28,898,000 |
| Operating ROA | 3.12% | 4.87% | 7.00% | 1.65% | 4.52% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $890,000K ÷ $28,500,000K
= 3.12%
Corning, Inc.'s operating return on assets (operating ROA) has displayed some fluctuation over the past five years. In 2023, the operating ROA stood at 3.12%, declining from 4.87% in 2022. This decrease indicates a decrease in the company's ability to generate operating profit from its assets compared to the previous year.
In 2021, Corning, Inc. had a higher operating ROA of 7.00%, showcasing a strong performance in converting its assets into operating income. This was a significant improvement from the lower operating ROA of 1.65% in 2020, suggesting enhanced efficiency in asset utilization and profitability during that period.
The operating ROA for Corning, Inc. in 2019 was 4.52%, indicating a moderate level of return generated from its operating activities relative to its total assets. Overall, while there have been fluctuations in Corning, Inc.'s operating ROA in recent years, the company has demonstrated varying levels of effectiveness in utilizing its assets to generate operating income.
Peer comparison
Dec 31, 2023