GLW (Corning) ROCE % : -0.16% (As of Sep. 2024)

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What is Corning ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Corning's annualized ROCE % for the quarter that ended in Sep. 2024 was -0.16%.

Corning ROCE % Historical Data

The historical data trend for Corning's ROCE % 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.

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Corning ROCE % Chart

Corning Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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5.80

3.43

10.41

8.41

4.72

Corning Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial															4.96	0.86	6.37	4.44	-0.16

Corning ROCE % Calculation

Corning's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	1145	/	( ( (29499 - 5175)	+	(28500 - 4319) )	/ 2 )
	=	1145	/	( (24324	+	24181)	/ 2 )
	=	1145	/	24252.5
	=	4.72 %

Corning's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	-36	/	( ( (27179 - 4526)	+	(28322 - 4637) )	/ 2 )
	=	-36	/	( ( 22653	+	23685 )	/ 2 )
	=	-36	/	23169
	=	-0.16 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

Corning (NYSE:GLW) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Corning ROCE % Related Terms

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Corning Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Corning Inc (NYSE:GLW) » Definitions » ROCE %

Comparable Companies

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Address

One Riverfront Plaza, Corning, NY, USA, 14831

Website

https://www.corning.com

Corning 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

Bayne John P Jr	officer: SVP & GM Mobile Consumer Elec.	ONE RIVERFRONT PLAZA, CORNING NY 14831
Martin J Curran	officer: Exec. VP & Innovation Officer	ONE RIVERFRONT PLAZA, CORNING NY 14831
John Z Zhang	officer: Senior VP & GM, Display	ONE RIVERFRONT PLAZA, CORNING NY 14831
Lewis A Steverson	officer: Senior Vice President	ONE RIVERFRONT PLAZA, CORNING NY 14831
Wendell P Weeks	officer: President and COO	ONE RIVERFRONT PLZ, CORNING NY 14831
Eric S Musser	officer: Vice President	ONE RIVERFRONT PLAZA, CORNING NY 14831
Stefan Becker	officer: SVP & Operations Controller	ONE RIVERFRONT PLAZA, CORNING NY 14831
Edward A Schlesinger	officer: Vice President & Controller	ONE RIVERSIDE PLAZA, CORNING NY 14831
Li Fang	officer: Pres.&GM Corning Greater China	ONE RIVERFRONT PLAZA, CORNING NY 14831
Jeffrey W Evenson	officer: Senior Vice President	ONE RIVERFRONT PLAZA, CORNING NY 14831
Michael Alan Bell	officer: Senior VP &.GM, Optical Comm.	ONE RIVERFRONT PLAZA, CORNING NY 14831
Soumya Seetharam	officer: Senior Vice President & CDIO	ONE RIVERFRONT PLAZA, CORNING NY 14831
Lawrence D Mcrae	officer: Senior Vice President	ONE RIVERFRONT PLAZA, CORNING NY 14831
Jaymin Amin	officer: SVP and Chief Tech. Officer	ONE RIVERFRONT PLAZA, CORNING NY 14831
Jordana Daryl Kammerud	officer: Senior Vice President & CHRO	ONE RIVERFRONT PLAZA, CORNING NY 14831