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GLW

CorningNYSE:GLW Stock Report

Market Cap

US$31.2b

7D

-3.5%

1Y

11.4%

Updated

26 Oct, 2021

Data

Company Financials +
GLW fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance4/6
Financial Health3/6
Dividends5/6

GLW Overview

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

Corning Competitors

Amphenol

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US$47.3b

II-VI

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US$6.3b

Belden

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US$2.7b

Samsung Electronics

KOSE:A005930

₩477.9t

Price History & Performance

Summary of all time highs, changes and price drops for Corning
Historical stock prices
Current Share PriceUS$36.58
52 Week HighUS$31.28
52 Week LowUS$46.82
Beta1.16
1 Month Change-4.72%
3 Month Change-10.43%
1 Year Change11.36%
3 Year Change17.13%
5 Year Change62.00%
Change since IPO396.00%

Recent News & Updates

Oct 07

Corning Gets No Respect And Is Unjustifiably Cheap

Corning is in the middle of multiple long-term mega trends, which show no signs of abating. The company is a tech powerhouse, with a long road of growth ahead. Shares are now trading near 2018 levels, trading at a massive discount to the market, while the company appears to be firing on all cylinders. I find the stock to be extremely compelling and I am taking this opportunity to increase my position at current levels.

Sep 23
Is Corning Incorporated (NYSE:GLW) Trading At A 40% Discount?

Is Corning Incorporated (NYSE:GLW) Trading At A 40% Discount?

Does the September share price for Corning Incorporated ( NYSE:GLW ) reflect what it's really worth? Today, we will...

Sep 23

Corning: Prepare For Takeoff

Corning operates a moat-worthy business and is seeing strong underlying performance. Management has a track record of delivering strong returns on capital, and the company has a number of growth catalysts ahead. I highlight why the recent material drop in share price presents a buying opportunity for value and growth investors alike.

Sep 07
Is There Now An Opportunity In Corning Incorporated (NYSE:GLW)?

Is There Now An Opportunity In Corning Incorporated (NYSE:GLW)?

Today we're going to take a look at the well-established Corning Incorporated ( NYSE:GLW ). The company's stock saw...

Shareholder Returns

GLWUS ElectronicUS Market
7D-3.5%1.4%1.9%
1Y11.4%38.0%33.4%

Return vs Industry: GLW underperformed the US Electronic industry which returned 33.6% over the past year.

Return vs Market: GLW underperformed the US Market which returned 30.3% over the past year.

Price Volatility

Is GLW's price volatile compared to industry and market?
GLW volatility
GLW Beta1.16
Industry Beta1.33
Market Beta1

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

Volatility Over Time: GLW's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
185150,110Wendell Weekshttps://www.corning.com

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company’s Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for various carrier network applications.

Corning Fundamentals Summary

How do Corning's earnings and revenue compare to its market cap?
GLW fundamental statistics
Market CapUS$31.24b
Earnings (TTM)US$851.00m
Revenue (TTM)US$13.14b

36.7x

P/E Ratio

2.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GLW income statement (TTM)
RevenueUS$13.14b
Cost of RevenueUS$8.28b
Gross ProfitUS$4.86b
ExpensesUS$4.01b
EarningsUS$851.00m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 26, 2021

Earnings per share (EPS)1.00
Gross Margin37.00%
Net Profit Margin6.48%
Debt/Equity Ratio60.8%

How did GLW perform over the long term?

See historical performance and comparison

Valuation

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

39.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GLW ($38.61) is trading below our estimate of fair value ($60.52)

Significantly Below Fair Value: GLW is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: GLW is poor value based on its PE Ratio (38.7x) compared to the US Electronic industry average (20.5x).

PE vs Market: GLW is poor value based on its PE Ratio (38.7x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: GLW is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: GLW's PB Ratio (2.8x) is in line with the US Electronic industry average.


Future Growth

How is Corning forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

23.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GLW's forecast earnings growth (23.1% per year) is above the savings rate (2%).

Earnings vs Market: GLW's earnings (23.1% per year) are forecast to grow faster than the US market (14.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GLW's revenue (5.2% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: GLW's revenue (5.2% 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 (17.2%).


Past Performance

How has Corning performed over the past 5 years?

-29.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GLW has high quality earnings.

Growing Profit Margin: GLW's current net profit margins (6.5%) are higher than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: GLW's earnings have declined by 29.1% per year over the past 5 years.

Accelerating Growth: GLW's earnings growth over the past year (718.3%) exceeds its 5-year average (-29.1% per year).

Earnings vs Industry: GLW earnings growth over the past year (718.3%) exceeded the Electronic industry 44.3%.


Return on Equity

High ROE: GLW's Return on Equity (14.2%) is considered low.


Financial Health

How is Corning's financial position?


Financial Position Analysis

Short Term Liabilities: GLW's short term assets ($7.6B) exceed its short term liabilities ($4.6B).

Long Term Liabilities: GLW's short term assets ($7.6B) do not cover its long term liabilities ($13.0B).


Debt to Equity History and Analysis

Debt Level: GLW's debt to equity ratio (60.8%) is considered high.

Reducing Debt: GLW's debt to equity ratio has increased from 21.3% to 60.8% over the past 5 years.

Debt Coverage: GLW's debt is well covered by operating cash flow (39%).

Interest Coverage: GLW's interest payments on its debt are well covered by EBIT (7.4x coverage).


Balance Sheet


Dividend

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

2.62%

Current Dividend Yield


Upcoming Dividend Payment

TodayOct 26 2021Ex Dividend DateNov 10 2021Dividend Pay DateDec 17 202137 days from Ex DividendBuy in the next 14 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: GLW's dividend (2.49%) is higher than the bottom 25% of dividend payers in the US market (1.28%).

High Dividend: GLW's dividend (2.49%) is low compared to the top 25% of dividend payers in the US market (3.48%).


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: At its current payout ratio (84.7%), GLW's 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 (45.8% payout ratio).


Next Steps

Management

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

6.2yrs

Average management tenure


CEO

Wendell Weeks (61 yo)

16.5yrs

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 (6.2 years average tenure).


Board Members

Experienced Board: GLW's board of directors are seasoned and experienced ( 11.2 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: GLW insiders have only sold shares 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 12.1%.


Top Shareholders

Company Information

Corning Incorporated's 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$31.240b
  • Shares outstanding: 854.03m
  • Website: https://www.corning.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 22:31
End of Day Share Price2021/10/26 00:00
Earnings2021/06/30
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.