Corning (GLW)
Information Technology · $136B market cap · SEC CIK 0000024741
fundamentals score out of 100
Next reports on Oct 26, 2026, before the open, with analysts expecting $0.89 in earnings per share.
The case for GLW
- Revenue growing 19.4% year over year.
- Earnings per share up 131.2%.
- Pays a 4.0% dividend while you wait.
- Return on equity of 16%.
- Up 99.8% over the past year.
The case against
- Very expensive at 71.5× earnings. Years of growth are already in the price.
- Profitability is weak (39/100): return on equity 16%, net margin 11.2%, gross margin 36%.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Information Technology companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 21 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 62 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 39 |
| Momentumhow the price has behaved lately | 51 |
| Stabilityhow violently it moves, what it owes and what it pays you | 51 |
- Each factor except momentum is half fixed thresholds, half rank among the 73 Information Technology companies.
Key numbers
| Price / earnings | 71.5× |
|---|---|
| Price / book | 17.50× |
| Price / sales | 8.0× |
| Revenue growth (YoY) | +19.4% |
| EPS growth (YoY) | +131.2% |
| Gross margin | 36% |
| Operating margin | 15% |
| Net margin | 11% |
| Return on equity | 16% |
| Debt / equity | 0.67× |
| Current ratio | 1.81 |
| Dividend yield | 3.97% |
| Beta | 1.18 |
| 52-week range | $77.05 – $271.78 |
| Position in that range | 42% of the way up |
| 3-month return | -18.4% |
| 1-year return | +99.8% |
Five years of financials, as filed
Pulled from Corning's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $15.6B | $13.1B | $12.6B | $14.2B | $14.1B |
| Gross profit | $5.6B | $4.3B | $3.9B | $4.5B | $5.1B |
| Operating income | $2.3B | $1.1B | $890M | $1.4B | $2.1B |
| Net income | $1.6B | $506M | $581M | $1.3B | $1.9B |
| Operating cash flow | $2.7B | $1.9B | $2.0B | $2.6B | $3.4B |
| Total assets | $31.0B | $27.7B | $28.5B | $29.5B | $30.2B |
| Total liabilities | $18.7B | $16.7B | $16.6B | $17.2B | $17.6B |
| Shareholder equity | $11.8B | $10.7B | $11.6B | $12.0B | $12.3B |
| Cash | $1.5B | $1.8B | $1.8B | $1.7B | $2.1B |
| Gross margin | 36.0% | 32.6% | 31.2% | 31.8% | 36.0% |
| Operating margin | 14.6% | 8.7% | 7.1% | 10.1% | 15.0% |
| Net margin | 10.2% | 3.9% | 4.6% | 9.3% | 13.5% |
| Diluted shares | 871M | 869M | 859M | 857M | 844M |
Share count is up 3.2% over 4 years. Mild issuance.
What Corning says it does
Corning traces its origins to a glass business established in 1851. The present corporation was incorporated in the State of New York in December 1936. The Company’s name was changed from Corning Glass Works to Corning Incorporated on April 28, 1989. Corning is vital to progress – in the industries we help advance and in the world we share. With a 175-year track record of life-changing inventions, Corning applies its unparalleled expertise in glass science, ceramic science and optical physics, along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives. Our materials science and manufacturing expertise, boundless curiosity and commitment to purposeful invention place us at the center of the way the world works, learns and lives. In addition, our sustained investment in research, development and engineering capabilities means we are always…
Risk factors GLW lists in its 10-K
- Health crisis events, such as epidemics or pandemics, have adversely impacted, and may continue to impact, the economy and disrupt our operations and supply chains, which may have an adverse effect on our results of operations
- Risks associated with the launch of a new business
- Because we have a concentrated customer base, future sales and cash flows could be negatively impacted by the actions or loss of one or more key customers
- % of total segment net sales in 2025
- Information technology dependency and cybersecurity vulnerabilities could lead to reduced revenue, liability claims, competitive or reputational harm, and result in material adverse effects on our operations and financial results
- We may not earn a positive return from our research, development and engineering investments
- Our innovation model depends on our ability to attract and retain specialized expertise
- We are subject to strict environmental regulations and regulatory changes that could result in fines or restrictions that interrupt our operations
- We may have additional tax liabilities
- As a global company, we face many risks which could adversely impact our operations and financial results
- Corning is exposed to risks associated with a global economy, including government fiscal and monetary policies
- We have significant exposure to foreign currency movements
- We may have significant exposure to counterparties of our related derivatives portfolio
- Current or future litigation or regulatory investigations may harm our financial condition or results of operations