Corning Incorporated (GLW)
Return on total capital
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 1,135,000 | 820,000 | 754,000 | 847,000 | 890,000 | 898,000 | 954,000 | 1,165,000 | 1,438,000 | 1,835,000 | 2,095,000 | 2,180,000 | 2,112,000 | 2,105,000 | 1,810,000 | 1,132,000 | 509,000 | 180,000 | 288,000 | 765,000 |
| Long-term debt | US$ in thousands | 6,400,000 | 7,000,000 | 6,500,000 | 6,700,000 | 7,000,000 | 6,500,000 | 7,100,000 | 6,400,000 | 6,100,000 | 5,900,000 | 6,400,000 | 7,300,000 | 8,300,000 | 8,400,000 | 8,500,000 | 8,700,000 | 9,400,000 | 9,200,000 | 8,900,000 | 8,500,000 |
| Total stockholders’ equity | US$ in thousands | 10,686,000 | 11,103,000 | 10,585,000 | 11,226,000 | 11,551,000 | 11,430,000 | 11,412,000 | 11,925,000 | 12,008,000 | 11,284,000 | 11,734,000 | 12,395,000 | 12,333,000 | 12,145,000 | 11,960,000 | 13,369,000 | 13,257,000 | 12,660,000 | 12,049,000 | 12,198,000 |
| Return on total capital | 6.64% | 4.53% | 4.41% | 4.72% | 4.80% | 5.01% | 5.15% | 6.36% | 7.94% | 10.68% | 11.55% | 11.07% | 10.24% | 10.25% | 8.85% | 5.13% | 2.25% | 0.82% | 1.37% | 3.70% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,135,000K ÷ ($6,400,000K + $10,686,000K)
= 6.64%
Corning Incorporated's return on total capital has shown fluctuating trends over the past few years. The ratio gradually increased from 3.70% in March 2020 to a peak of 11.55% in June 2022. This indicated an improving efficiency in generating profits relative to the total capital employed by the company.
However, after June 2022, there was a slight decline in the return on total capital, with a dip to 4.41% in June 2024. The ratio slightly recovered to 6.64% by December 2024, but it remained below the peak levels seen in earlier years.
Overall, the return on total capital for Corning Incorporated has demonstrated some volatility, suggesting fluctuations in the company's ability to generate profits from its total capital base. It would be necessary to monitor future trends to assess whether this trend continues or if there are any underlying factors affecting the company's profitability and efficiency.
Peer comparison
Dec 31, 2024