GURUFOCUS.COM » STOCK LIST » USA » NYSE » Corning Inc (NYSE:GLW) » Definitions » Interest Coverage
Switch to:

Corning Interest Coverage

: 6.81 (As of Jun. 2022)
View and export this data going back to 1945. Start your Free Trial

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. Corning's Operating Income for the three months ended in Jun. 2022 was $490 Mil. Corning's Interest Expense for the three months ended in Jun. 2022 was $-72 Mil. Corning's interest coverage for the quarter that ended in Jun. 2022 was 6.81. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Corning's Interest Coverage or its related term are showing as below:

GLW' s Interest Coverage Range Over the Past 10 Years
Min: 1.84   Med: 9.44   Max: 16.28
Current: 7.27


GLW's Interest Coverage is ranked worse than
74.47% of 1661 companies
in the Hardware industry
Industry Median: 21.35 vs GLW: 7.27

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.


Corning Interest Coverage Historical Data

The historical data trend for Corning's Interest Coverage can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Corning Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Interest Coverage
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.37 8.25 5.91 1.84 7.04

Corning Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Interest Coverage Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.37 7.67 6.62 8.03 6.81

Competitive Comparison

For the Electronic Components subindustry, Corning's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Corning Interest Coverage Distribution

For the Hardware industry and Technology sector, Corning's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Corning's Interest Coverage falls into.



Corning Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage=-1* Operating Income /Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt.


Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Corning's Interest Coverage for the fiscal year that ended in Dec. 2021 is calculated as

Here, for the fiscal year that ended in Dec. 2021, Corning's Interest Expense was $-300 Mil. Its Operating Income was $2,112 Mil. And its Long-Term Debt & Capital Lease Obligation was $7,680 Mil.

Interest Coverage=-1* Operating Income (A: Dec. 2021 )/Interest Expense (A: Dec. 2021 )
=-1*2112/-300
=7.04

Corning's Interest Coverage for the quarter that ended in Jun. 2022 is calculated as

Here, for the three months ended in Jun. 2022, Corning's Interest Expense was $-72 Mil. Its Operating Income was $490 Mil. And its Long-Term Debt & Capital Lease Obligation was $7,355 Mil.

Interest Coverage=-1* Operating Income (Q: Jun. 2022 )/Interest Expense (Q: Jun. 2022 )
=-1*490/-72
=6.81

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

The higher the ratio, the stronger the company's Financial Strength is.


Corning  (NYSE:GLW) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .


Corning Interest Coverage Related Terms

Thank you for viewing the detailed overview of Corning's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.


Corning Business Description

Corning logo
Address
One Riverfront Plaza, Corning, NY, USA, 14831
Corning Inc is a leader in materials science, specializing in the production of glass, ceramics and optical fiber. The firm supplies its products for a wide range of applications, from flat-panel displays in televisions to gasoline particulate filters in automobiles to optical fiber for broadband access, with a leading share in many of its end markets.
Executives
Amin Jaymin officer: SVP and Chief Tech. Officer ONE RIVERFRONT PLAZA CORNING NY 14831
Capps Cheryl C officer: SVP & Chief Supply Chain Off. 5830 GRANITE PARKWAY SUITE 1150 PLANO TX 75024
Craig Pamela director C/O ACCENTURE 161 N CLARK STREET CHICAGO IL 60601
Ferguson Roger W. Jr. director CORNING INCORPORATED ONE RIVERFRONT PLAZA CORNING NY 14831
Samsung Display Co., Ltd. 10 percent owner 1, SAMSUNG-RO, GIHEUNG-GU, YONGIN-SI GYEONGGI-DO M5 17113
Bell Michael Alan officer: Senior VP &.GM, Optical Comm. ONE RIVERFRONT PLAZA CORNING NY 14831
Becker Stefan officer: SVP & Operations Controller ONE RIVERFRONT PLAZA CORNING NY 14831
Zhang John Z officer: Senior VP & GM, Display ONE RIVERFRONT PLAZA CORNING NY 14831
Verkleeren Ronald L officer: Senior VP & GM, Life Sciences ONE RIVERFRONT PLAZA CORNING NY 14831
Nelson Avery H Iii officer: Senior VP & GM, Automotive ONE RIVERFRONT PLAZA CORNING NY 14831
Bayne John P Jr officer: SVP & GM Mobile Consumer Elec. ONE RIVERFRONT PLAZA CORNING NY 14831
Fang Li officer: Pres.&GM Corning Greater China ONE RIVERFRONT PLAZA CORNING NY 14831
Mullins Anne officer: Senior Vice President & CDIO ONE RIVERFRONT PLAZA CORNING NY 14831
France Robert P. officer: Senior VP, Human Resources ONE RIVERFRONT PLAZA CORNING NY 14831
Brun Leslie A director 435 DEVON PARK DRIVE 700 BUILDING WAYNE PA 19087

Corning Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)