GLW Stock Overview
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$35.06|
|52 Week High||US$46.82|
|52 Week Low||US$34.89|
|1 Month Change||-3.63%|
|3 Month Change||-8.29%|
|1 Year Change||-6.76%|
|3 Year Change||15.48%|
|5 Year Change||31.41%|
|Change since IPO||375.39%|
Recent News & Updates
Corning: Non-GAAP And Balance Sheet Woes Might Be Ended
Corning's non-GAAP earnings have been flat over the last several years. Non-GAAP earnings have been far above GAAP earnings due to exclusion of restructuring and other non-routine costs. Restructuring costs and share repurchases have converted a net cash position to a significant net debt position. The pandemic has affected earnings but green shoots are now emerging in markets with good prospects for Corning's products. The negatives for Corning might be at an end, with future prospects now improving.
Corning Has It All: Value, Growth, And Dividend Growth
Corning supplies essential products that enable modern telecommunications and technologies. Its optical fiber business is firing on all cylinders and is in the early innings of a long growth runway. Meanwhile, it maintains a strong balance sheet and pays a well-covered and growing dividend.
At US$37.61, Is Corning Incorporated (NYSE:GLW) Worth Looking At Closely?
Let's talk about the popular Corning Incorporated ( NYSE:GLW ). The company's shares saw significant share price...
Does Corning (NYSE:GLW) Have A Healthy Balance Sheet?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
|GLW||US Electronic||US Market|
Return vs Industry: GLW underperformed the US Electronic industry which returned 2.4% over the past year.
Return vs Market: GLW underperformed the US Market which returned 6.6% over the past year.
|GLW Average Weekly Movement||3.8%|
|Electronic Industry Average Movement||7.5%|
|Market Average Movement||6.7%|
|10% most volatile stocks in US Market||15.6%|
|10% least volatile stocks in US Market||2.4%|
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.
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$8.69b|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
Jan 26, 2022
|Earnings per share (EPS)||0.96|
|Net Profit Margin||5.95%|
How did GLW perform over the long term?See historical performance and comparison
2.7%Current Dividend Yield
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 ($35.06) is trading below our estimate of fair value ($45.14)
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 (36.5x) compared to the US Electronic industry average (17.7x).
PE vs Market: GLW is poor value based on its PE Ratio (36.5x) compared to the US market (16.7x).
Price to Earnings Growth Ratio
PEG Ratio: GLW is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: GLW is overvalued based on its PB Ratio (2.5x) compared to the US Electronic industry average (2.3x).
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 (17.3% per year) is above the savings rate (2%).
Earnings vs Market: GLW's earnings (17.3% per year) are forecast to grow faster than the US market (13.1% per year).
High Growth Earnings: GLW's earnings are forecast to grow, but not significantly.
Revenue vs Market: GLW's revenue (4.7% per year) is forecast to grow slower than the US market (9.2% per year).
High Growth Revenue: GLW's revenue (4.7% 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 (16.6%).
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%) are higher than last year (1.8%).
Past Earnings Growth Analysis
Earnings Trend: GLW's earnings have declined by 26.8% per year over the past 5 years.
Accelerating Growth: GLW's earnings growth over the past year (322.2%) exceeds its 5-year average (-26.8% per year).
Earnings vs Industry: GLW earnings growth over the past year (322.2%) exceeded the Electronic industry 42.1%.
Return on Equity
High ROE: GLW's Return on Equity (13.5%) is considered low.
How is Corning's financial position?
Financial Position Analysis
Short Term Liabilities: GLW's short term assets ($7.7B) exceed its short term liabilities ($4.3B).
Long Term Liabilities: GLW's short term assets ($7.7B) do not cover its long term liabilities ($13.0B).
Debt to Equity History and Analysis
Debt Level: GLW's net debt to equity ratio (39.3%) is considered satisfactory.
Reducing Debt: GLW's debt to equity ratio has increased from 22.1% to 57.2% over the past 5 years.
Debt Coverage: GLW's debt is well covered by operating cash flow (44.7%).
Interest Coverage: GLW's interest payments on its debt are well covered by EBIT (7.8x coverage).
What is Corning current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: GLW's dividend (2.74%) is higher than the bottom 25% of dividend payers in the US market (1.36%).
High Dividend: GLW's dividend (2.74%) is low compared to the top 25% of dividend payers in the US market (3.55%).
Stability and Growth of Payments
Stable Dividend: GLW's dividends per share have been stable in the past 10 years.
Growing Dividend: GLW's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (92.6%), GLW's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: GLW's dividends in 3 years are forecast to be well covered by earnings (44.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Wendell Weeks (61 yo)
Mr. Wendell P. Weeks has been the Chief Executive Officer of Corning Incorporated at Corning Optical Communications LLC since April 26, 2005 and has been its Chairman since April 26, 2007. Mr. Weeks has be...
CEO Compensation Analysis
Compensation vs Market: Wendell's total compensation ($USD18.95M) is above average for companies of similar size in the US market ($USD11.42M).
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 (8.6 years average tenure).
Experienced Board: GLW's board of directors are seasoned and experienced ( 11.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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 11.6%.
Corning Incorporated's employee growth, exchange listings and data sources
- Name: Corning Incorporated
- Ticker: GLW
- Exchange: NYSE
- Founded: 1851
- Industry: Electronic Components
- Sector: Tech
- Implied Market Cap: US$29.921b
- Shares outstanding: 853.41m
- 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||2022/01/21 23:35|
|End of Day Share Price||2022/01/21 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.