Corning Incorporated (GLW)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 749,000 | 1,727,000 | 2,397,000 | 623,000 | 1,216,000 |
| Revenue | US$ in thousands | 12,588,000 | 14,189,000 | 14,082,000 | 11,303,000 | 11,503,000 |
| Pretax margin | 5.95% | 12.17% | 17.02% | 5.51% | 10.57% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $749,000K ÷ $12,588,000K
= 5.95%
Based on the data provided, the pretax margin of Corning, Inc. has fluctuated over the past five years. In 2023, the pretax margin decreased to 6.48% from 12.66% in 2022, which suggests a decline in the company's ability to generate profits before accounting for taxes. This reduction might indicate increased expenses relative to revenue or decreased revenue compared to the previous year.
Looking at the trend over the five-year period, the pretax margin was relatively high in 2021 at 17.02%, which was significantly above the levels observed in 2020 and 2019. This improvement in profitability in 2021 could have been driven by various factors such as cost-cutting measures, increased revenue streams, or operational efficiencies.
However, in 2020 and 2019, the pretax margin was lower at 5.51% and 10.57%, respectively. The decrease in 2020 could be attributed to the challenges imposed by the global pandemic, which impacted businesses across various sectors. Despite the fluctuations, it is important for Corning, Inc. to closely monitor its pretax margin to ensure sustainable profitability and efficient management of expenses in the future.
Peer comparison
Dec 31, 2023