Corning Incorporated (GLW)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 11,551,000 | 12,008,000 | 12,333,000 | 13,257,000 | 12,907,000 |
| Debt-to-capital ratio | 0.38 | 0.34 | 0.40 | 0.41 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $7,000,000K ÷ ($7,000,000K + $11,551,000K)
= 0.38
The debt-to-capital ratio for Corning, Inc. has shown a slight fluctuation over the past five years. In 2023, the ratio increased to 0.39 from 0.37 in 2022. This indicates that the company's total debt as a proportion of its total capital has increased slightly.
While the ratio for 2023 is higher than the previous year, it is still within a manageable range. A higher debt-to-capital ratio can imply a higher level of financial risk as it suggests a larger proportion of debt relative to total capital, but it does not necessarily indicate financial distress.
Overall, Corning, Inc. has maintained a relatively stable debt-to-capital ratio over the years, with minor variations. It is important for the company to continue monitoring and managing its debt levels to ensure a healthy balance between debt and equity in its capital structure.
Peer comparison
Dec 31, 2023