Current Ratio
since 2005
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- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Calculation
Corning Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | = | ÷ | |||
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ | |||
| Dec 31, 2018 | = | ÷ | |||
| Dec 31, 2017 | = | ÷ | |||
| Dec 31, 2016 | = | ÷ | |||
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
- Current Assets
- The current assets experienced an overall increasing trend from 2005 through 2010, rising from approximately 3,860 million USD to around 8,859 million USD. After 2010, the current assets fluctuated moderately, peaking near 10,238 million USD in 2014, followed by a general decline through 2023, ending at about 7,212 million USD. This pattern indicates growth in liquidity positions until mid-decade, succeeded by a period of volatility and gradual reduction.
- Current Liabilities
- Current liabilities showed a decreasing trend from 2005 to 2009, dropping from roughly 2,370 million USD to 1,539 million USD. Subsequently, there was a consistent upward trajectory from 2009 onward, reaching a peak of approximately 5,175 million USD in 2021 before declining to about 4,319 million USD in 2023. This suggests that obligations due within one year were reduced initially but expanded significantly in the latter period, possibly reflecting increased short-term borrowing or operational obligations.
- Current Ratio
- The current ratio, a measure of short-term liquidity, improved markedly from 1.63 in 2005 to a peak around 5.09 in 2013, signifying strong coverage of current liabilities by current assets. From 2013 onwards, the ratio declined steadily to approximately 1.44 in 2022, before a slight recovery to 1.67 in 2023. The diminishing current ratio in recent years highlights a tightening liquidity position and reduced buffer to meet short-term liabilities.
- Overall Insights
- The financial data indicates a phase of strengthening liquidity and asset accumulation until around 2013-2014. Following this peak, current assets have contracted while current liabilities expanded, causing the current ratio to fall substantially. The trend from 2013 to 2023 points toward increasing short-term financial pressure, which may warrant monitoring the company’s working capital management and liquidity risk. The slight improvement in the current ratio in 2023 could suggest initial steps toward stabilizing the current financial position.
Comparison to Competitors
Corning Inc., current ratio, long-term trends, comparison to competitors
| Corning Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2023 | ||||||
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Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Technology Hardware & Equipment)
Corning Inc., current ratio, long-term trends, comparison to sector (technology hardware & equipment)
| Corning Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 31, 2023 | ||
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Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Corning Inc., current ratio, long-term trends, comparison to industry (information technology)
| Corning Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
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Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).