Net Profit Margin
since 2005
Calculation
Corning Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss) attributable to Corning Incorporated1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 4.62% | = | 100 | × | 581) | ÷ | 12,588) |
| Dec 31, 2022 | 9.27% | = | 100 | × | 1,316) | ÷ | 14,189) |
| Dec 31, 2021 | 13.54% | = | 100 | × | 1,906) | ÷ | 14,082) |
| Dec 31, 2020 | 4.53% | = | 100 | × | 512) | ÷ | 11,303) |
| Dec 31, 2019 | 8.35% | = | 100 | × | 960) | ÷ | 11,503) |
| Dec 31, 2018 | 9.44% | = | 100 | × | 1,066) | ÷ | 11,290) |
| Dec 31, 2017 | -4.91% | = | 100 | × | (497) | ÷ | 10,116) |
| Dec 31, 2016 | 39.35% | = | 100 | × | 3,695) | ÷ | 9,390) |
| Dec 31, 2015 | 14.70% | = | 100 | × | 1,339) | ÷ | 9,111) |
| Dec 31, 2014 | 25.45% | = | 100 | × | 2,472) | ÷ | 9,715) |
| Dec 31, 2013 | 25.08% | = | 100 | × | 1,961) | ÷ | 7,819) |
| Dec 31, 2012 | 21.57% | = | 100 | × | 1,728) | ÷ | 8,012) |
| Dec 31, 2011 | 35.55% | = | 100 | × | 2,805) | ÷ | 7,890) |
| Dec 31, 2010 | 53.65% | = | 100 | × | 3,558) | ÷ | 6,632) |
| Dec 31, 2009 | 37.22% | = | 100 | × | 2,008) | ÷ | 5,395) |
| Dec 31, 2008 | 88.38% | = | 100 | × | 5,257) | ÷ | 5,948) |
| Dec 31, 2007 | 36.69% | = | 100 | × | 2,150) | ÷ | 5,860) |
| Dec 31, 2006 | 35.85% | = | 100 | × | 1,855) | ÷ | 5,174) |
| Dec 31, 2005 | 12.78% | = | 100 | × | 585) | ÷ | 4,579) |
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
The financial data reveals several trends in profitability and sales performance over the years under review.
- Net Income (Loss) Attributable to Corning Incorporated
- The net income shows considerable volatility throughout the period. Beginning at $585 million in 2005, net income generally increased reaching a peak of $5,257 million in 2008. Following this peak, net income experienced a sharp decline, notably dropping to $1,728 million in 2012 and further declining to a negative figure of -$497 million in 2017, indicating a net loss for that year. The recovery subsequent to 2017 was uneven, with net income fluctuating between positive and low growth figures, ending at $581 million in 2023.
- Net Sales
- Net sales display a consistent upward trend over the majority of the period reviewed. Starting from $4,579 million in 2005, net sales steadily increased, surpassing $10,000 million in 2017 and reaching a peak of approximately $14,189 million in 2022. However, there was a noticeable decline in 2023, where net sales decreased to $12,588 million. This suggests a general growth in market demand or expansion efforts until a recent dip.
- Net Profit Margin
- The net profit margin follows a similar volatile pattern to net income. The margin started at 12.78% in 2005, saw substantial improvement with peaks around 88.38% in 2008, and a series of highs and lows thereafter. Following the peak, the margin decreased and showed significant fluctuations, even turning negative at -4.91% in 2017, indicating a year of loss relative to sales. Post-2017, the margin remained relatively low and unstable, concluding at 4.62% in 2023. This pattern reflects periods of operational efficiency as well as challenges affecting profitability despite growing sales.
Overall, the data points to a company experiencing strong sales growth over the long term but facing considerable challenges in translating these sales into consistent profitability. Periods of high net income and margin are offset by years of decline and loss, suggesting external market pressures or internal operational issues impacting financial effectiveness. The recent decline in sales coupled with lower profit margins signals potential caution for future financial performance.
Comparison to Competitors
Corning Inc., net profit margin, 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 | 4.62% | 25.31% | 35.62% | 22.13% | 2.39% | 8.98% |
| Dec 31, 2022 | 9.27% | 25.31% | 30.87% | 22.91% | 5.50% | 5.49% |
| Dec 31, 2021 | 13.54% | 25.88% | 28.52% | 21.26% | 3.45% | 3.14% |
| Dec 31, 2020 | 4.53% | 20.91% | 27.38% | 22.75% | 5.01% | 2.52% |
| Dec 31, 2019 | 8.35% | 21.24% | 35.67% | 22.39% | -2.55% | 2.05% |
| Dec 31, 2018 | 9.44% | 22.41% | 15.25% | 0.22% | — | 1.37% |
| Dec 31, 2017 | -4.91% | 21.09% | 25.71% | 20.02% | — | 2.69% |
| Dec 31, 2016 | 39.35% | 21.19% | 16.31% | 21.81% | — | 3.25% |
| Dec 31, 2015 | 14.70% | 22.85% | 14.46% | 18.27% | — | 5.12% |
| Dec 31, 2014 | 25.45% | 21.61% | 14.87% | 16.66% | — | 3.69% |
| Dec 31, 2013 | 25.08% | 21.67% | — | 20.54% | — | 1.83% |
| Dec 31, 2012 | 21.57% | 26.67% | — | 17.46% | — | 2.94% |
| Dec 31, 2011 | 35.55% | 23.95% | — | 15.02% | — | 4.27% |
| Dec 31, 2010 | 53.65% | 21.48% | — | 19.40% | — | 3.73% |
| Dec 31, 2009 | 37.22% | 15.61% | — | 16.98% | — | 3.19% |
| Dec 31, 2008 | 88.38% | 14.88% | — | 20.36% | — | 4.70% |
| Dec 31, 2007 | 36.69% | 14.56% | — | 21.00% | — | 4.60% |
| Dec 31, 2006 | 35.85% | 10.30% | — | 19.59% | — | — |
| Dec 31, 2005 | 12.78% | 9.58% | — | 23.15% | — | — |
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., net profit margin, long-term trends, comparison to sector (technology hardware & equipment)
| Corning Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 31, 2023 | 4.62% | 20.66% |
| Dec 31, 2022 | 9.27% | 21.34% |
| Dec 31, 2021 | 13.54% | 21.20% |
| Dec 31, 2020 | 4.53% | 17.54% |
| Dec 31, 2019 | 8.35% | 16.03% |
| Dec 31, 2018 | 9.44% | 18.73% |
| Dec 31, 2017 | -4.91% | 20.77% |
| Dec 31, 2016 | 39.35% | 21.13% |
| Dec 31, 2015 | 14.70% | 21.91% |
| Dec 31, 2014 | 25.45% | 20.48% |
| Dec 31, 2013 | 25.08% | 21.32% |
| Dec 31, 2012 | 21.57% | 24.46% |
| Dec 31, 2011 | 35.55% | 21.29% |
| Dec 31, 2010 | 53.65% | 20.58% |
| Dec 31, 2009 | 37.22% | 16.20% |
| Dec 31, 2008 | 88.38% | 17.79% |
| Dec 31, 2007 | 36.69% | 18.28% |
| Dec 31, 2006 | 35.85% | 15.84% |
| Dec 31, 2005 | 12.78% | 18.27% |
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., net profit margin, long-term trends, comparison to industry (information technology)
| Corning Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 4.62% | 20.36% |
| Dec 31, 2022 | 9.27% | 22.42% |
| Dec 31, 2021 | 13.54% | 23.60% |
| Dec 31, 2020 | 4.53% | 19.65% |
| Dec 31, 2019 | 8.35% | 19.84% |
| Dec 31, 2018 | 9.44% | 18.57% |
| Dec 31, 2017 | -4.91% | 17.85% |
| Dec 31, 2016 | 39.35% | 17.79% |
| Dec 31, 2015 | 14.70% | 18.37% |
| Dec 31, 2014 | 25.45% | 19.38% |
| Dec 31, 2013 | 25.08% | 20.20% |
| Dec 31, 2012 | 21.57% | 20.07% |
| Dec 31, 2011 | 35.55% | 20.67% |
| Dec 31, 2010 | 53.65% | 20.23% |
| Dec 31, 2009 | 37.22% | 14.52% |
| Dec 31, 2008 | 88.38% | 15.20% |
| Dec 31, 2007 | 36.69% | 15.81% |
| Dec 31, 2006 | 35.85% | 16.23% |
| Dec 31, 2005 | 12.78% | 16.66% |
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).