Return on Assets (ROA)
since 2005
Calculation
Corning Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to Corning Incorporated1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 2.04% | = | 100 | × | 581) | ÷ | 28,500) |
| Dec 31, 2022 | 4.46% | = | 100 | × | 1,316) | ÷ | 29,499) |
| Dec 31, 2021 | 6.32% | = | 100 | × | 1,906) | ÷ | 30,154) |
| Dec 31, 2020 | 1.66% | = | 100 | × | 512) | ÷ | 30,775) |
| Dec 31, 2019 | 3.32% | = | 100 | × | 960) | ÷ | 28,898) |
| Dec 31, 2018 | 3.88% | = | 100 | × | 1,066) | ÷ | 27,505) |
| Dec 31, 2017 | -1.81% | = | 100 | × | (497) | ÷ | 27,494) |
| Dec 31, 2016 | 13.24% | = | 100 | × | 3,695) | ÷ | 27,899) |
| Dec 31, 2015 | 4.69% | = | 100 | × | 1,339) | ÷ | 28,547) |
| Dec 31, 2014 | 8.22% | = | 100 | × | 2,472) | ÷ | 30,063) |
| Dec 31, 2013 | 6.89% | = | 100 | × | 1,961) | ÷ | 28,478) |
| Dec 31, 2012 | 5.88% | = | 100 | × | 1,728) | ÷ | 29,375) |
| Dec 31, 2011 | 10.07% | = | 100 | × | 2,805) | ÷ | 27,848) |
| Dec 31, 2010 | 13.77% | = | 100 | × | 3,558) | ÷ | 25,833) |
| Dec 31, 2009 | 9.43% | = | 100 | × | 2,008) | ÷ | 21,295) |
| Dec 31, 2008 | 27.30% | = | 100 | × | 5,257) | ÷ | 19,256) |
| Dec 31, 2007 | 14.13% | = | 100 | × | 2,150) | ÷ | 15,215) |
| Dec 31, 2006 | 14.20% | = | 100 | × | 1,855) | ÷ | 13,065) |
| Dec 31, 2005 | 5.22% | = | 100 | × | 585) | ÷ | 11,207) |
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
Analysis of the financial performance from 2005 to 2023 reveals significant volatility in the efficiency of asset utilization. While there was a period of exceptional returns in the late 2000s, the subsequent years have been characterized by fluctuating returns and a general decline in profitability relative to the total asset base.
- Peak Operational Efficiency
- The highest level of asset productivity was achieved in 2008, with the return on assets (ROA) peaking at 27.30%. This spike was driven by a substantial increase in net income to $5.257 billion, occurring while the asset base was approximately $19.256 billion. Following this peak, ROA experienced a sharp correction to 9.43% in 2009, though it remained relatively strong through 2011.
- Mid-Period Volatility and Negative Returns
- Between 2012 and 2017, the ROA exhibited high variance. After a period of lower returns between 2012 and 2015, a significant recovery occurred in 2016 with an ROA of 13.24%. This was immediately followed by a sharp decline to -1.81% in 2017, the only negative value in the series, resulting from a net loss of $497 million.
- Long-Term Asset Expansion and Return Decay
- A divergent trend is observed between asset growth and profitability over the long term. Total assets expanded from $11.207 billion in 2005 to a peak of $30.775 billion in 2019. Despite this nearly threefold increase in the asset base, net income did not scale proportionally. From 2018 to 2023, a consistent downward trajectory in ROA is evident, falling from 3.88% to 2.04%. This suggests a diminishing ability to generate profit from the company's deployed assets in recent years.
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Comparison to Competitors
Corning Inc., ROA, 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 | 2.04% | 27.51% | 20.98% | 12.38% | 2.73% | -2.84% | 17.42% |
| Dec 31, 2022 | 4.46% | 28.29% | 19.96% | 12.57% | 6.00% | 4.78% | 8.90% |
| Dec 31, 2021 | 6.32% | 26.97% | 14.66% | 10.86% | 2.63% | 11.19% | 4.99% |
| Dec 31, 2020 | 1.66% | 17.73% | 13.39% | 11.82% | 3.88% | 4.12% | 4.39% |
| Dec 31, 2019 | 3.32% | 16.32% | 20.54% | 11.88% | -2.07% | -1.34% | 4.27% |
| Dec 31, 2018 | 3.88% | 16.28% | 10.65% | 0.10% | — | 15.69% | 2.61% |
| Dec 31, 2017 | -1.81% | 12.88% | 17.20% | 7.40% | — | -8.31% | 4.41% |
| Dec 31, 2016 | 13.24% | 14.20% | 10.65% | 8.83% | — | 1.28% | 6.18% |
| Dec 31, 2015 | 4.69% | 18.38% | 10.44% | 7.91% | — | -0.66% | 9.35% |
| Dec 31, 2014 | 8.22% | 17.04% | 10.71% | 7.47% | — | — | 6.80% |
| Dec 31, 2013 | 6.89% | 17.89% | — | 9.87% | — | — | 3.37% |
| Dec 31, 2012 | 5.88% | 23.70% | — | 8.76% | — | — | 5.07% |
| Dec 31, 2011 | 10.07% | 22.28% | — | 7.45% | — | — | 8.66% |
| Dec 31, 2010 | 13.77% | 18.64% | — | 9.57% | — | — | 7.26% |
| Dec 31, 2009 | 9.43% | 10.59% | — | 9.00% | — | — | 5.69% |
| Dec 31, 2008 | 27.30% | 12.22% | — | 13.71% | — | — | 9.61% |
| Dec 31, 2007 | 14.13% | 13.79% | — | 13.75% | — | — | 9.41% |
| Dec 31, 2006 | 14.20% | 11.56% | — | 12.88% | — | — | — |
| Dec 31, 2005 | 5.22% | 11.56% | — | 16.94% | — | — | — |
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., ROA, long-term trends, comparison to sector (technology hardware & equipment)
| Corning Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 31, 2023 | 2.04% | 20.39% |
| Dec 31, 2022 | 4.46% | 21.50% |
| Dec 31, 2021 | 6.32% | 18.83% |
| Dec 31, 2020 | 1.66% | 13.53% |
| Dec 31, 2019 | 3.32% | 11.76% |
| Dec 31, 2018 | 3.88% | 12.53% |
| Dec 31, 2017 | -1.81% | 11.43% |
| Dec 31, 2016 | 13.24% | 12.68% |
| Dec 31, 2015 | 4.69% | 15.39% |
| Dec 31, 2014 | 8.22% | 14.03% |
| Dec 31, 2013 | 6.89% | 15.23% |
| Dec 31, 2012 | 5.88% | 18.55% |
| Dec 31, 2011 | 10.07% | 15.91% |
| Dec 31, 2010 | 13.77% | 13.92% |
| Dec 31, 2009 | 9.43% | 9.70% |
| Dec 31, 2008 | 27.30% | 13.10% |
| Dec 31, 2007 | 14.13% | 13.75% |
| Dec 31, 2006 | 14.20% | 12.51% |
| Dec 31, 2005 | 5.22% | 15.57% |
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., ROA, long-term trends, comparison to industry (information technology)
| Corning Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 2.04% | 12.34% |
| Dec 31, 2022 | 4.46% | 14.33% |
| Dec 31, 2021 | 6.32% | 14.52% |
| Dec 31, 2020 | 1.66% | 11.46% |
| Dec 31, 2019 | 3.32% | 11.67% |
| Dec 31, 2018 | 3.88% | 10.94% |
| Dec 31, 2017 | -1.81% | 9.00% |
| Dec 31, 2016 | 13.24% | 9.68% |
| Dec 31, 2015 | 4.69% | 11.51% |
| Dec 31, 2014 | 8.22% | 12.33% |
| Dec 31, 2013 | 6.89% | 13.22% |
| Dec 31, 2012 | 5.88% | 14.06% |
| Dec 31, 2011 | 10.07% | 15.11% |
| Dec 31, 2010 | 13.77% | 14.45% |
| Dec 31, 2009 | 9.43% | 10.04% |
| Dec 31, 2008 | 27.30% | 11.87% |
| Dec 31, 2007 | 14.13% | 11.93% |
| Dec 31, 2006 | 14.20% | 12.20% |
| Dec 31, 2005 | 5.22% | 12.71% |
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).