Corning Incorporated (GLW)
Debt-to-equity 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-equity ratio | 0.61 | 0.51 | 0.67 | 0.71 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $7,000,000K ÷ $11,551,000K
= 0.61
The debt-to-equity ratio of Corning, Inc. has shown a fluctuating trend over the past five years. In 2023, the ratio increased to 0.65 from 0.58 in 2022, indicating that the company relied more on debt financing compared to equity financing. This could be a signal of increased borrowing to fund operations or investments.
However, when compared to 2021 and 2019 where the ratio was 0.57 and 0.60 respectively, the current ratio is still within the range observed in the recent years. This suggests that the company has maintained a relatively stable capital structure in terms of the mix of debt and equity.
It is important to note that a debt-to-equity ratio of 0.65 means that for every dollar of equity, the company has $0.65 of debt. While this ratio can provide insights into the financial leverage of the company, it should be considered in conjunction with other financial metrics and factors to get a comprehensive view of Corning, Inc.'s financial health and risk profile.
Peer comparison
Dec 31, 2023