Corning Incorporated (GLW)
Return on equity (ROE)
| 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 stockholders’ equity | US$ in thousands | 11,551,000 | 12,008,000 | 12,333,000 | 13,257,000 | 12,907,000 |
| ROE | 5.03% | 10.96% | 15.45% | 3.86% | 7.44% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $581,000K ÷ $11,551,000K
= 5.03%
Corning, Inc.'s return on equity (ROE) has fluctuated in recent years. In 2023, the company's ROE was 5.03%, indicating a decrease from the previous year. The declining trend in ROE in 2023 may suggest that the company's profitability relative to its equity has weakened.
Comparing to the ROE in 2022 (10.96%), the latest figure indicates a significant drop. This decline could be attributed to changes in the company's net income, total equity, or a combination of both.
While the 2023 ROE is lower than the previous year, it is still higher than the ROE in 2020 and 2019. This indicates that Corning, Inc. has experienced fluctuations in profitability over the past five years.
Further analysis of the components contributing to ROE, such as net profit margin, asset turnover, and financial leverage, would provide more insights into the factors driving the changes in Corning, Inc.'s ROE over the years.
Peer comparison
Dec 31, 2023