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CorningNYSE:GLW Stock Report

Last Price


Market Cap







21 Jan, 2022


Company Financials +
GLW fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance4/6
Financial Health4/6

GLW Stock Overview

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

Corning Competitors







Samsung Electronics



Cisco Systems



Price History & Performance

Summary of all time highs, changes and price drops for Corning
Historical stock prices
Current Share PriceUS$35.06
52 Week HighUS$46.82
52 Week LowUS$34.89
1 Month Change-3.63%
3 Month Change-8.29%
1 Year Change-6.76%
3 Year Change15.48%
5 Year Change31.41%
Change since IPO375.39%

Recent News & Updates

Dec 28

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.

Dec 20

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.

Dec 11
At US$37.61, Is Corning Incorporated (NYSE:GLW) Worth Looking At Closely?

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...

Nov 17
Does Corning (NYSE:GLW) Have A Healthy Balance Sheet?

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...

Shareholder Returns

GLWUS ElectronicUS 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.

Price Volatility

Is GLW's price volatile compared to industry and market?
GLW volatility
GLW Average Weekly Movement3.8%
Electronic Industry Average Movement7.5%
Market Average Movement6.7%
10% most volatile stocks in US Market15.6%
10% least volatile stocks in US Market2.4%

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

185150,110Wendell Weeks

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$29.92b
Earnings (TTM)US$819.00m
Revenue (TTM)US$13.76b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GLW income statement (TTM)
Cost of RevenueUS$8.69b
Gross ProfitUS$5.07b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Jan 26, 2022

Earnings per share (EPS)0.96
Gross Margin36.82%
Net Profit Margin5.95%
Debt/Equity Ratio57.2%

How did GLW perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


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).

Future Growth

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%).

Past Performance

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.

Financial Health

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).

Balance Sheet


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).

Next Steps


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.

Leadership Team

Experienced Management: GLW's management team is seasoned and experienced (8.6 years average tenure).

Board Members

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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.6%.

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
  • Implied Market Cap: US$29.921b
  • Shares outstanding: 853.41m
  • Website:

Number of Employees


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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/21 23:35
End of Day Share Price2022/01/21 00:00
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.