Corning Incorporated (GLW)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 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 | 12,907,000 | 13,034,000 | 13,425,000 | 13,607,000 |
| Debt-to-capital ratio | 0.38 | 0.36 | 0.38 | 0.35 | 0.34 | 0.34 | 0.35 | 0.37 | 0.40 | 0.41 | 0.42 | 0.39 | 0.41 | 0.42 | 0.42 | 0.41 | 0.00 | 0.35 | 0.00 | 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 of Corning, Inc. has been relatively stable over the past eight quarters, ranging between 0.36 and 0.40. This ratio indicates the proportion of the company's capital structure that is financed by debt. A lower debt-to-capital ratio suggests that the company relies more on equity financing, which can be seen as less risky as it indicates a lower level of debt obligations.
Conversely, a higher debt-to-capital ratio may indicate a higher risk due to greater reliance on debt financing. In the case of Corning, Inc., the ratio has mostly been in the mid-range, indicating a balanced approach to capital structure management.
It is essential for investors and stakeholders to monitor changes in the debt-to-capital ratio over time to assess the company's financial health and risk profile. Overall, based on the historical data provided, Corning, Inc. appears to have maintained a stable and reasonable level of debt relative to its capital structure.
Peer comparison
Dec 31, 2023