Corning Incorporated (GLW)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 7,000,000 | 6,100,000 | 8,300,000 | 9,400,000 | 8,500 |
| Total assets | US$ in thousands | 28,500,000 | 29,499,000 | 30,154,000 | 30,775,000 | 28,898,000 |
| Debt-to-assets ratio | 0.25 | 0.21 | 0.28 | 0.31 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $7,000,000K ÷ $28,500,000K
= 0.25
The debt-to-assets ratio of Corning, Inc. has shown consistency over the past five years, ranging from 0.23 to 0.27. This ratio indicates how much of the company's assets are financed by debt. In 2023, the ratio stands at 0.26, suggesting that approximately 26% of Corning's assets are funded by debt, while the remaining 74% are financed by equity.
The slight increase in the ratio from 2022 to 2023 may indicate a marginally higher reliance on debt financing compared to the previous year. However, the ratio is still within a reasonable range, indicating that Corning has been managing its debt levels effectively relative to its assets. It is essential to consider the industry norms and overall financial health of the company to better evaluate the implications of this ratio.
Peer comparison
Dec 31, 2023