Stock Analysis on Net
Stock Analysis on Net

Corning Inc. (NYSE:GLW)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Common-Size Balance Sheet: Assets
Quarterly Data

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Corning Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2024 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
Cash and cash equivalents
Trade accounts receivable, net of doubtful accounts
Inventories
Other current assets
Current assets
Property, plant and equipment, net of accumulated depreciation
Goodwill
Other intangible assets, net
Deferred income taxes
Other assets
Non-current assets
Total assets

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash and Cash Equivalents
The proportion of cash and cash equivalents to total assets showed variability over the period analyzed. Starting at 5.33% in March 2019, it declined to a low of 3.55% by September 2019. The percentage then increased significantly to a peak of 9.51% in March 2021, followed by a gradual decline to 4.94% by March 2024. This pattern suggests fluctuating liquidity levels, with a notable build-up of cash resources in early 2021 that subsequently eased.
Trade Accounts Receivable, Net
Trade receivables as a percentage of total assets remained relatively stable, oscillating between approximately 5.5% and 7.6%. The highest values appear around mid to late 2019, followed by a gradual decline, bottoming near 5.52% in March 2023. A slight uptick was observed toward the end of the period, reaching 5.87% in March 2024. This stability in receivables could indicate consistent credit management and steady sales on credit.
Inventories
Inventory levels, as a share of total assets, showed a mild upward trend overall. Starting at 8.02% in March 2019, inventories peaked at around 10.27% in September 2022 before slightly retreating to 9.82% by March 2024. The rise during 2022 suggests possible stockpiling activity or slower inventory turnover, which may warrant further investigation into supply chain or demand factors during this period.
Other Current Assets
Other current assets exhibited an increasing trend from 2.67% in March 2019 to a high of 5.58% in September 2022. After this peak, the ratio decreased and stabilized around 4.6% by early 2024. The growth phase could indicate rising short-term receivables or prepaid expenses, reflecting changes in working capital components.
Current Assets
The aggregate current assets increased moderately from 23.24% in March 2019 to a peak of approximately 27.16% in September 2022, followed by a decline to around 25.24% by March 2024. The trend reflects the combined movements in cash, receivables, inventories, and other current assets, with a notable increase in 2022 before normalization.
Property, Plant and Equipment (Net)
The net property, plant, and equipment (PPE) relative to total assets showed a mild downward trend, decreasing from 54.46% in March 2019 to approximately 50.95% by September 2023. There was slight recovery toward the end of the period, with PPE accounting for 51.41% in March 2024. The gradual reduction suggests either asset disposals, depreciation outpacing additions, or shifts in asset composition.
Goodwill
Goodwill maintained a relatively stable range, between 6.7% and 8.58% of total assets. Notably, it increased steadily from 6.7% in December 2019 to around 8.58% in March 2024, indicating possible acquisitions or adjustments in valuation during this period.
Other Intangible Assets (Net)
Other intangible assets experienced a consistent decline in their share of total assets, falling from 4.63% in March 2019 to 3.15% in March 2024. This decline suggests amortization or impairment exceeding the addition of new intangible assets over the timeframe.
Deferred Income Taxes
Deferred income taxes fluctuated modestly, starting at 3.85% in March 2019, dipping to lows near 3.29% in December 2020, and subsequently increasing to 4.10% by March 2024. These changes may reflect shifts in tax obligations or differing timing of tax recognition.
Other Assets
Other assets exhibited a gradual increase, rising from 6.76% in March 2019 to a peak of 8.00% in March 2023, before a slight decrease to 7.51% by March 2024. The overall trend indicates growing investments or long-term asset components outside the primary categories.
Non-Current Assets
Non-current assets as a percentage of total assets remained predominantly stable, fluctuating between 73% and 77%. Beginning at 76.76% in March 2019, the ratio declined to a low of approximately 72.84% in September 2022, before increasing again to 74.76% by March 2024. This steadiness shows a consistent asset composition weighted toward long-term assets.
Total Assets
The total assets benchmark is constant at 100% across all periods, serving as the base for all relative percentage analyses.