Corning Incorporated (GLW)
Debt-to-assets ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 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 | 8,500 | 6,900,000 | — | — |
| Total assets | US$ in thousands | 28,500,000 | 28,278,000 | 28,645,000 | 28,822,000 | 29,499,000 | 28,735,000 | 29,718,000 | 30,257,000 | 30,154,000 | 29,706,000 | 29,806,000 | 30,143,000 | 30,775,000 | 30,267,000 | 27,546,000 | 27,859,000 | 28,898,000 | 27,329,000 | 27,575,000 | 27,321,000 |
| Debt-to-assets ratio | 0.25 | 0.23 | 0.25 | 0.22 | 0.21 | 0.21 | 0.22 | 0.24 | 0.28 | 0.28 | 0.29 | 0.29 | 0.31 | 0.30 | 0.32 | 0.31 | 0.00 | 0.25 | 0.00 | 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 been relatively stable over the past eight quarters, ranging from 0.23 to 0.27. This indicates that, on average, approximately 23% to 27% of the company's assets are financed by debt.
A lower debt-to-assets ratio suggests that the company relies less on debt to fund its operations and investments, which can be viewed positively as it signifies a lower level of financial risk. In the case of Corning, Inc., the ratios generally fall within this lower range, indicating a conservative approach to debt financing.
However, it is essential to consider the industry norms and the company's specific circumstances when interpreting the debt-to-assets ratio. A comparison with industry peers and historical trends can provide further insight into Corning's debt management strategy.
Peer comparison
Dec 31, 2023