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 analysis of net profit margins reveals a trajectory marked by extreme volatility and several distinct phases of profitability. While net sales generally trended upward from 2005 to 2022, net income did not scale proportionally, resulting in wide fluctuations in the net profit margin over the nineteen-year period.
- Period of Peak Volatility (2005–2011)
- This interval was characterized by disproportionate growth in net income relative to sales. The net profit margin rose from 12.78% in 2005 to an anomalous peak of 88.38% in 2008. Despite a correction in 2009, margins remained high through 2011, including a secondary peak of 53.65% in 2010.
- Mid-Term Fluctuations (2012–2016)
- From 2012 to 2015, profitability stabilized within a range of 14.70% to 25.45%. This period of relative stability was interrupted in 2016 by a sharp increase in the net profit margin to 39.35%, coinciding with a significant rise in net income to $3.695 billion.
- Profitability Erosion and Recent Contraction (2017–2023)
- A severe reversal is observed in 2017, where the net profit margin dropped to -4.91%. Following a recovery in 2018, a consistent downward trend in profitability emerged. Despite net sales reaching historical highs of over $14 billion in 2021 and 2022, the net profit margin compressed from 13.54% in 2021 to 4.62% by the end of 2023, indicating a diminishing ability to convert increased revenue into bottom-line profit.
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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. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 4.62% | 25.31% | 35.62% | 22.13% | 2.39% | -7.45% | 8.98% |
| Dec 31, 2022 | 9.27% | 25.31% | 30.87% | 22.91% | 5.50% | 11.61% | 5.49% |
| Dec 31, 2021 | 13.54% | 25.88% | 28.52% | 21.26% | 3.45% | 22.80% | 3.14% |
| Dec 31, 2020 | 4.53% | 20.91% | 27.38% | 22.75% | 5.01% | 8.07% | 2.52% |
| Dec 31, 2019 | 8.35% | 21.24% | 35.67% | 22.39% | -2.55% | -2.33% | 2.05% |
| Dec 31, 2018 | 9.44% | 22.41% | 15.25% | 0.22% | — | 19.88% | 1.37% |
| Dec 31, 2017 | -4.91% | 21.09% | 25.71% | 20.02% | — | -10.23% | 2.69% |
| Dec 31, 2016 | 39.35% | 21.19% | 16.31% | 21.81% | — | 1.03% | 3.25% |
| Dec 31, 2015 | 14.70% | 22.85% | 14.46% | 18.27% | — | -0.41% | 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% | 20.57% |
| Dec 31, 2022 | 9.27% | 21.31% |
| Dec 31, 2021 | 13.54% | 21.21% |
| Dec 31, 2020 | 4.53% | 17.50% |
| Dec 31, 2019 | 8.35% | 15.96% |
| Dec 31, 2018 | 9.44% | 18.73% |
| Dec 31, 2017 | -4.91% | 20.66% |
| Dec 31, 2016 | 39.35% | 21.06% |
| Dec 31, 2015 | 14.70% | 21.84% |
| 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% | 20.24% |
| Dec 31, 2022 | 9.27% | 22.27% |
| Dec 31, 2021 | 13.54% | 23.48% |
| Dec 31, 2020 | 4.53% | 19.76% |
| Dec 31, 2019 | 8.35% | 19.73% |
| Dec 31, 2018 | 9.44% | 18.59% |
| Dec 31, 2017 | -4.91% | 17.77% |
| Dec 31, 2016 | 39.35% | 17.58% |
| Dec 31, 2015 | 14.70% | 18.32% |
| Dec 31, 2014 | 25.45% | 19.33% |
| Dec 31, 2013 | 25.08% | 20.15% |
| Dec 31, 2012 | 21.57% | 20.07% |
| Dec 31, 2011 | 35.55% | 20.71% |
| Dec 31, 2010 | 53.65% | 20.19% |
| Dec 31, 2009 | 37.22% | 14.45% |
| Dec 31, 2008 | 88.38% | 15.07% |
| Dec 31, 2007 | 36.69% | 15.71% |
| Dec 31, 2006 | 35.85% | 16.26% |
| Dec 31, 2005 | 12.78% | 16.64% |
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).