Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$36.58|
|52 Week High||US$31.28|
|52 Week Low||US$46.82|
|1 Month Change||-4.72%|
|3 Month Change||-10.43%|
|1 Year Change||11.36%|
|3 Year Change||17.13%|
|5 Year Change||62.00%|
|Change since IPO||396.00%|
Recent News & Updates
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.
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...
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.
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...
|GLW||US Electronic||US Market|
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.
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
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
|GLW fundamental statistics|
Is GLW overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|GLW income statement (TTM)|
|Cost of Revenue||US$8.28b|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Oct 26, 2021
|Earnings per share (EPS)||1.00|
|Net Profit Margin||6.48%|
How did GLW perform over the long term?See historical performance and comparison
2.6%Current Dividend Yield
Does GLW pay a reliable dividends?See GLW dividend history and benchmarks
|Corning dividend dates|
|Ex Dividend Date||Nov 10 2021|
|Dividend Pay Date||Dec 17 2021|
|Days until Ex dividend||14 days|
|Days until Dividend pay date||51 days|
Does GLW pay a reliable dividends?See GLW dividend history and benchmarks
Is Corning undervalued compared to its fair value and its price relative to the market?
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.
How is Corning forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
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%).
How has Corning performed over the past 5 years?
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.
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 ($13.0B).
Debt to Equity History and Analysis
Debt Level: GLW's debt to equity ratio (60.8%) is considered high.
Reducing Debt: GLW's debt to equity ratio has increased from 21.3% to 60.8% over the past 5 years.
Debt Coverage: GLW's debt is well covered by operating cash flow (39%).
Interest Coverage: GLW's interest payments on its debt are well covered by EBIT (7.4x coverage).
What is Corning current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: GLW's dividend (2.49%) is higher than the bottom 25% of dividend payers in the US market (1.28%).
High Dividend: GLW's dividend (2.49%) is low compared to the top 25% of dividend payers in the US market (3.48%).
Stability and Growth of Payments
Stable Dividend: GLW's dividends per share have been stable in the past 10 years.
Growing Dividend: GLW's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (84.7%), GLW's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: GLW's dividends in 3 years are forecast to be well covered by earnings (45.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Wendell Weeks (61 yo)
Mr. Wendell P. Weeks has been the Chief Executive Officer of Corning Incorporated at Corning Optical Communications LLC since April 26, 2005 and has been its Chairman since April 26, 2007. Mr. Weeks has be...
CEO Compensation Analysis
Compensation vs Market: Wendell's total compensation ($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.
Experienced Management: GLW's management team is seasoned and experienced (6.2 years average tenure).
Experienced Board: GLW's board of directors are seasoned and experienced ( 11.2 years average tenure).
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
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 12.1%.
Corning Incorporated's employee growth, exchange listings and data sources
- 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
- Corning Incorporated
- One Riverfront Plaza
- New York
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/26 22:31|
|End of Day Share Price||2021/10/26 00:00|
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.