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Market Cap

US$37.1b

Last Updated

2021/05/14 03:44 UTC

Data Sources

Company Financials +

Executive Summary

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. More Details


Snowflake Analysis

Established dividend payer with proven track record.


Similar Companies

Share Price & News

How has Corning's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GLW is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: GLW's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-4.7%

GLW

-3.1%

US Electronic

-2.8%

US Market


1 Year Return

118.3%

GLW

69.0%

US Electronic

49.0%

US Market

Return vs Industry: GLW exceeded the US Electronic industry which returned 69% over the past year.

Return vs Market: GLW exceeded the US Market which returned 49% over the past year.


Shareholder returns

GLWIndustryMarket
7 Day-4.7%-3.1%-2.8%
30 Day-3.2%-5.5%-2.6%
90 Day18.0%-3.8%-1.5%
1 Year124.6%118.3%72.6%69.0%51.5%49.0%
3 Year69.8%56.4%59.1%52.4%58.2%48.3%
5 Year161.1%129.8%169.7%152.3%123.8%98.9%

Long-Term Price Volatility Vs. Market

How volatile is Corning's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Corning undervalued compared to its fair value and its price relative to the market?

12.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GLW ($43.53) is trading below our estimate of fair value ($49.52)

Significantly Below Fair Value: GLW is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: GLW is poor value based on its PE Ratio (29.9x) compared to the US Electronic industry average (25.2x).

PE vs Market: GLW is poor value based on its PE Ratio (29.9x) compared to the US market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: GLW is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: GLW is overvalued based on its PB Ratio (3x) compared to the US Electronic industry average (2.7x).


Future Growth

How is Corning forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

16.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GLW's forecast earnings growth (16.3% per year) is above the savings rate (2%).

Earnings vs Market: GLW's earnings (16.3% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: GLW's earnings are forecast to grow, but not significantly.

Revenue vs Market: GLW's revenue (5.8% per year) is forecast to grow slower than the US market (8.9% per year).

High Growth Revenue: GLW's revenue (5.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GLW's Return on Equity is forecast to be low in 3 years time (16.1%).


Past Performance

How has Corning performed over the past 5 years?

-26.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GLW has high quality earnings.

Growing Profit Margin: GLW's current net profit margins (9.1%) are higher than last year (2.4%).


Past Earnings Growth Analysis

Earnings Trend: GLW's earnings have declined by 26.3% per year over the past 5 years.

Accelerating Growth: GLW's earnings growth over the past year (315.4%) exceeds its 5-year average (-26.3% per year).

Earnings vs Industry: GLW earnings growth over the past year (315.4%) exceeded the Electronic industry 13.1%.


Return on Equity

High ROE: GLW's Return on Equity (8.9%) is considered low.


Financial Health

How is Corning's financial position?


Financial Position Analysis

Short Term Liabilities: GLW's short term assets ($8.1B) exceed its short term liabilities ($3.5B).

Long Term Liabilities: GLW's short term assets ($8.1B) do not cover its long term liabilities ($13.1B).


Debt to Equity History and Analysis

Debt Level: GLW's debt to equity ratio (57.6%) is considered high.

Reducing Debt: GLW's debt to equity ratio has increased from 24.6% to 57.6% over the past 5 years.

Debt Coverage: GLW's debt is well covered by operating cash flow (34%).

Interest Coverage: GLW's interest payments on its debt are well covered by EBIT (6.4x coverage).


Balance Sheet


Dividend

What is Corning current dividend yield, its reliability and sustainability?

2.21%

Current Dividend Yield


Upcoming Dividend Payment

TodayMay 14 2021Ex Dividend DateMay 27 2021Dividend Pay DateJun 29 202133 days from Ex DividendBuy in the next 13 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: GLW's dividend (2.21%) is higher than the bottom 25% of dividend payers in the US market (1.27%).

High Dividend: GLW's dividend (2.21%) is low compared to the top 25% of dividend payers in the US market (3.45%).


Stability and Growth of Payments

Stable Dividend: GLW's dividends per share have been stable in the past 10 years.

Growing Dividend: GLW's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.9%), GLW's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GLW's dividends in 3 years are forecast to be well covered by earnings (43.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average management tenure


CEO

Wendell Weeks (60 yo)

16.08yrs

Tenure

US$18,951,753

Compensation

Mr. Wendell P. Weeks has been the Chief Executive Officer of Corning Incorporated at Corning Optical Communications LLC since April 26, 2005 and has been its Chairman since April 26, 2007. Mr. Weeks has be...


CEO Compensation Analysis

Compensation vs Market: Wendell's total compensation ($USD18.95M) is above average for companies of similar size in the US market ($USD11.15M).

Compensation vs Earnings: Wendell's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: GLW's management team is seasoned and experienced (5.7 years average tenure).


Board Members

Experienced Board: GLW's board of directors are seasoned and experienced ( 10.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: GLW insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.9%.


Top Shareholders

Company Information

Corning Incorporated's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Corning Incorporated
  • Ticker: GLW
  • Exchange: NYSE
  • Founded: 1851
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: US$37.060b
  • Shares outstanding: 851.36m
  • Website: https://www.corning.com

Number of Employees


Location

  • Corning Incorporated
  • One Riverfront Plaza
  • Corning
  • New York
  • 14831
  • United States

Listings


Biography

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company’s Display Technologies seg...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/14 03:44
End of Day Share Price2021/05/13 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.