Corning
Market Cap
US$28.5b
Last Updated
2020/11/26 23:22 UTC
Data Sources
Company Financials +
Executive Summary
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Average dividend payer with moderate growth potential.
Similar Companies
Share Price & News
How has Corning's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GLW is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: GLW's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
2.7%
GLW
2.8%
US Electronic
2.1%
US Market
1 Year Return
27.1%
GLW
18.3%
US Electronic
19.8%
US Market
Return vs Industry: GLW exceeded the US Electronic industry which returned 18.2% over the past year.
Return vs Market: GLW exceeded the US Market which returned 19.7% over the past year.
Shareholder returns
| GLW | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.7% | 2.8% | 2.1% |
| 30 Day | 13.5% | 14.6% | 8.1% |
| 90 Day | 14.2% | 19.0% | 6.0% |
| 1 Year | 31.1%27.1% | 19.5%18.3% | 22.5%19.8% |
| 3 Year | 25.0%15.2% | 31.2%27.4% | 46.5%36.8% |
| 5 Year | 137.9%109.2% | 111.3%101.3% | 96.9%75.3% |
Long-Term Price Volatility Vs. Market
How volatile is Corning's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
A Look At The Fair Value Of Corning Incorporated (NYSE:GLW)2 weeks ago | Simply Wall St
It Might Not Be A Great Idea To Buy Corning Incorporated (NYSE:GLW) For Its Next Dividend4 weeks ago | Simply Wall St
Corning (NYSE:GLW) Has Compensated Shareholders With A Respectable 98% Return On Their InvestmentValuation
Is Corning undervalued compared to its fair value and its price relative to the market?
4.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: GLW ($37.3) is trading below our estimate of fair value ($39.19)
Significantly Below Fair Value: GLW is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: GLW is poor value based on its PE Ratio (146.3x) compared to the US Electronic industry average (25.7x).
PE vs Market: GLW is poor value based on its PE Ratio (146.3x) compared to the US market (19.7x).
Price to Earnings Growth Ratio
PEG Ratio: GLW is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: GLW is overvalued based on its PB Ratio (2.7x) compared to the US Electronic industry average (2.3x).
Next Steps
Future Growth
How is Corning forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
119.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GLW's forecast earnings growth (119.1% per year) is above the savings rate (2.2%).
Earnings vs Market: GLW's earnings (119.1% per year) are forecast to grow faster than the US market (22% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: GLW's revenue (9.3% per year) is forecast to grow slower than the US market (10.2% per year).
High Growth Revenue: GLW's revenue (9.3% 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 (14.1%).
Next Steps
Past Performance
How has Corning performed over the past 5 years?
-26.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GLW has high quality earnings.
Growing Profit Margin: GLW's current net profit margins (1.8%) are lower than last year (9.6%).
Past Earnings Growth Analysis
Earnings Trend: GLW's earnings have declined by 26.5% per year over the past 5 years.
Accelerating Growth: GLW's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: GLW had negative earnings growth (-82.7%) over the past year, making it difficult to compare to the Electronic industry average (-16.2%).
Return on Equity
High ROE: GLW's Return on Equity (2.3%) is considered low.
Next Steps
Financial Health
How is Corning's financial position?
Financial Position Analysis
Short Term Liabilities: GLW's short term assets ($8.1B) exceed its short term liabilities ($3.8B).
Long Term Liabilities: GLW's short term assets ($8.1B) do not cover its long term liabilities ($13.6B).
Debt to Equity History and Analysis
Debt Level: GLW's debt to equity ratio (62.8%) is considered high.
Reducing Debt: GLW's debt to equity ratio has increased from 20.1% to 62.8% over the past 5 years.
Debt Coverage: GLW's debt is well covered by operating cash flow (30%).
Interest Coverage: GLW's interest payments on its debt are not well covered by EBIT (3x coverage).
Balance Sheet
Next Steps
Dividend
What is Corning current dividend yield, its reliability and sustainability?
2.36%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: GLW's dividend (2.36%) is higher than the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: GLW's dividend (2.36%) is low compared to the top 25% of dividend payers in the US market (4.05%).
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 (337.4%), 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 (47.8% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
5.2yrs
Average management tenure
CEO
Wendell Weeks (60 yo)
15.58yrs
Tenure
US$14,283,654
Compensation
Mr. Wendell P. Weeks has been the Chief Executive Officer of Corning Incorporated at Corning Optical Communications LLC since April 26, 2005 and has been its Chairman since April 26, 2007. Mr. Weeks has be...
CEO Compensation Analysis
Compensation vs Market: Wendell's total compensation ($USD14.28M) is above average for companies of similar size in the US market ($USD10.79M).
Compensation vs Earnings: Wendell's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 15.58yrs | US$14.28m | 0.099% $ 28.1m | |
| Executive VP & CFO | 5.17yrs | US$4.54m | 0.0087% $ 2.5m | |
| Executive VP & CTO | 8.5yrs | US$4.55m | 0.0073% $ 2.1m | |
| Vice Chairman & Corporate Development Officer | 5.25yrs | US$4.80m | 0.021% $ 6.0m | |
| Vice Chairman | 3.08yrs | US$4.47m | 0.010% $ 3.0m | |
| President & COO | 0.58yr | no data | 0.0095% $ 2.7m | |
| Senior VP and Chief Digital & Information Officer | 1.25yrs | no data | no data | |
| Executive VP and Chief Legal & Administrative Officer | 0.58yr | US$5.24m | 0% $ 0 | |
| Vice President of Investor Relations | 7.33yrs | no data | no data | |
| VP of Global Employee Relations & Chief Compliance Officer | no data | no data | no data | |
| Senior VP of Human Resources | 1.83yrs | no data | 0.0039% $ 1.1m | |
| Executive VP & Innovation Officer | 13.17yrs | no data | 0.0042% $ 1.2m |
5.2yrs
Average Tenure
60.5yo
Average Age
Experienced Management: GLW's management team is seasoned and experienced (5.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 15.58yrs | US$14.28m | 0.099% $ 28.1m | |
| Independent Director | 19.83yrs | US$332.00k | 0.013% $ 3.6m | |
| Lead Independent Director | 7.75yrs | US$359.50k | 0.0055% $ 1.6m | |
| Independent Director | 6.33yrs | US$320.50k | 0.0023% $ 644.0k | |
| Independent Director | 13.83yrs | US$357.50k | 0.0082% $ 2.3m | |
| Independent Director | 21.83yrs | US$335.00k | 0.013% $ 3.8m | |
| Independent Director | 11.75yrs | US$320.50k | 0.0086% $ 2.5m | |
| Independent Director | 14.08yrs | US$330.00k | 0.020% $ 5.6m | |
| Independent Director | 7.33yrs | US$313.00k | 0.0034% $ 968.9k | |
| Independent Director | 8.83yrs | US$328.00k | 0.0075% $ 2.1m | |
| Independent Director | 7.75yrs | US$312.50k | 0.0041% $ 1.2m | |
| Independent Director | 5.75yrs | US$319.25k | 0.0018% $ 518.7k |
10.3yrs
Average Tenure
67yo
Average Age
Experienced Board: GLW's board of directors are seasoned and experienced ( 10.3 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 not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Corning Incorporated's company bio, 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$28.498b
- Shares outstanding: 764.01m
- Website: https://www.corning.com
Number of Employees
Location
- Corning Incorporated
- One Riverfront Plaza
- Corning
- New York
- 14831
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| GLW | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Jan 1968 |
| GLW | SWX (SIX Swiss Exchange) | Yes | Common Stock | CH | CHF | Jan 1968 |
| GLW | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jan 1968 |
| GLW | XTRA (XETRA Trading Platform) | Yes | Common Stock | DE | EUR | Jan 1968 |
| GLW * | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Jan 1968 |
| GLW-U | ETLX (Eurotlx) | Yes | Common Stock | IT | EUR | Jan 1968 |
| 0R2X | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Jan 1968 |
| G1LW34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH REPR 1 COM | BR | BRL | Dec 2019 |
Biography
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company’s Display Technologies seg...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/11/26 23:22 |
| End of Day Share Price | 2020/11/25 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.