Corning Incorporated (GLW)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 581,000 | 1,316,000 | 1,906,000 | 512,000 | 960,000 |
| Total assets | US$ in thousands | 28,500,000 | 29,499,000 | 30,154,000 | 30,775,000 | 28,898,000 |
| ROA | 2.04% | 4.46% | 6.32% | 1.66% | 3.32% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $581,000K ÷ $28,500,000K
= 2.04%
The return on assets (ROA) for Corning, Inc. has fluctuated over the past five years. In 2023, the ROA decreased significantly to 2.04%, following a substantial ROA of 4.46% in 2022. This decline indicates that the company's ability to generate profit from its assets weakened in 2023 compared to the previous year.
When comparing the recent ROA to the figures from 2021 and 2020, the 2023 ROA of 2.04% is lower than 3.58% and 1.35%, respectively. This suggests a dip in profitability efficiency for Corning in 2023 compared to the preceding two years.
However, it is worth noting that the 2023 ROA of 2.04% is still higher than the ROA recorded in 2019, which stood at 2.98%. This signifies an improvement in profitability efficiency from a longer-term perspective.
Overall, the trend in ROA for Corning, Inc. indicates some fluctuations in the company's ability to generate profits from its assets, with the most recent year showing a notable decrease compared to the previous years. This variability in ROA may prompt further analysis to understand the factors influencing the company's profitability.
Peer comparison
Dec 31, 2023