Corning Incorporated

NYSE:GLW Stock Report

Market Cap: US$40.5b

Corning Valuation

Is GLW undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GLW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GLW ($47.31) is trading below our estimate of fair value ($66.72)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GLW?

Key metric: As GLW is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for GLW. This is calculated by dividing GLW's market cap by their current revenue.
What is GLW's PS Ratio?
PS Ratio3.2x
SalesUS$12.61b
Market CapUS$40.51b

Price to Sales Ratio vs Peers

How does GLW's PS Ratio compare to its peers?

The above table shows the PS ratio for GLW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.4x
APH Amphenol
6x10.9%US$85.1b
COHR Coherent
3x10.9%US$15.1b
LFUS Littelfuse
2.7x5.9%US$5.8b
BDC Belden
2x9.2%US$4.6b
GLW Corning
3.2x9.9%US$40.5b

Price-To-Sales vs Peers: GLW is good value based on its Price-To-Sales Ratio (3.2x) compared to the peer average (3.4x).

Price to Sales Ratio vs Industry

How does GLW's PS Ratio compare vs other companies in the US Electronic Industry?

36 CompaniesPrice / SalesEstimated GrowthMarket Cap
SNX TD SYNNEX
0.2x5.2%US$9.95b
ARW Arrow Electronics
0.2x2.8%US$6.03b
INGM Ingram Micro Holding
0.1x3.6%US$4.67b
AVT Avnet
0.2x3.7%US$4.61b
GLW 3.2xIndustry Avg. 2.2xNo. of Companies36PS0246810+
36 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: GLW is expensive based on its Price-To-Sales Ratio (3.2x) compared to the US Electronic industry average (2.2x).

Price to Sales Ratio vs Fair Ratio

What is GLW's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GLW PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.2x
Fair PS Ratio2.6x

Price-To-Sales vs Fair Ratio: GLW is expensive based on its Price-To-Sales Ratio (3.2x) compared to the estimated Fair Price-To-Sales Ratio (2.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GLW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$47.31
US$52.92
+11.9%
11.3%US$60.00US$37.00n/a14
Dec ’25US$48.67
US$52.28
+7.4%
13.2%US$60.00US$37.00n/a14
Nov ’25US$48.36
US$51.17
+5.8%
15.1%US$60.00US$37.00n/a14
Oct ’25US$44.54
US$45.45
+2.0%
14.1%US$55.00US$37.00n/a14
Sep ’25US$41.85
US$43.52
+4.0%
12.3%US$55.00US$37.00n/a14
Aug ’25US$40.04
US$43.14
+7.8%
12.7%US$55.00US$36.01n/a14
Jul ’25US$38.66
US$38.04
-1.6%
10.9%US$45.00US$29.00n/a14
Jun ’25US$37.26
US$36.36
-2.4%
9.8%US$43.00US$29.00n/a14
May ’25US$33.48
US$35.70
+6.6%
8.8%US$40.00US$29.00n/a13
Apr ’25US$32.67
US$34.78
+6.4%
8.7%US$40.00US$29.00n/a13
Mar ’25US$32.45
US$34.50
+6.3%
8.8%US$40.00US$29.00n/a13
Feb ’25US$32.09
US$34.42
+7.3%
9.2%US$40.00US$29.00n/a13
Jan ’25US$30.45
US$32.50
+6.7%
10.7%US$40.00US$28.00n/a13
Dec ’24US$28.84
US$32.71
+13.4%
10.7%US$40.00US$28.00US$48.6712
Nov ’24US$26.66
US$33.25
+24.7%
11.8%US$40.00US$28.00US$48.3612
Oct ’24US$30.47
US$38.25
+25.5%
7.6%US$43.00US$33.00US$44.5412
Sep ’24US$32.86
US$38.31
+16.6%
7.3%US$43.00US$33.00US$41.8513
Aug ’24US$33.74
US$38.31
+13.5%
7.3%US$43.00US$33.00US$40.0413
Jul ’24US$35.04
US$38.15
+8.9%
8.6%US$42.00US$30.00US$38.6613
Jun ’24US$30.87
US$37.62
+21.9%
8.9%US$42.00US$30.00US$37.2613
May ’24US$33.11
US$37.76
+14.0%
8.9%US$42.00US$30.00US$33.4813
Apr ’24US$35.28
US$38.15
+8.1%
7.3%US$42.00US$32.00US$32.6713
Mar ’24US$34.33
US$37.92
+10.4%
7.6%US$42.00US$32.00US$32.4513
Feb ’24US$35.28
US$37.79
+7.1%
7.7%US$42.00US$32.00US$32.0913
Jan ’24US$31.94
US$37.10
+16.2%
7.1%US$42.00US$32.00US$30.4513
Dec ’23US$34.24
US$37.48
+9.5%
8.3%US$44.00US$32.00US$28.8413

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 01:57
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Corning Incorporated is covered by 46 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
James KelleherArgus Research Company
Ishan MajumdarBaptista Research
Amir RozwadowskiBarclays