Corning Inc (GLW)
Information Technology · Electronic Components · US stock · S&P 500 component
$123.99
▼ -10.93 (8.10%)
Fair valueOvervalued
$100 −19.2% to fair value
$50fair band $85–$121$150
Day's range
$122.56 – $129.00
52-week range
$77.39 – $271.78
About Corning Inc
Corning is a materials science company that makes specialty glass, ceramics and optical fibre. Its products include cover glass for smartphones, glass for displays, optical fibre and cable for telecom and data centre networks, ceramic substrates for vehicle emissions control, and laboratory products. Customers include electronics makers, telecom carriers, car and truck makers and scientific laboratories.
Revenue comes from supplying these materials and components to manufacturers and network operators. It totals $17.0 billion over the last twelve months, with growth of 3.3% a year across three years. The operating margin is 15.3%, and the business earns a profit of 12% on the capital invested in it. Corning has net debt of 2.3 times EBITDA, and the dividend yield is 0.9%. On the site's X-Ray Score it receives 37 out of 100.
Price chart
52-wk range $77.39 – $271.78Volume 12,334,257Daily, split-adjusted
Vitals
Market cap$108.5B
52-week range$77.39 – $271.78
Volume (last day)12,334,257
P/E (TTM)56.9
EBIT / EV yield2.3%
Free-cash-flow yield–
Dividend yield0.9%
Revenue (TTM)$17.0B
Net income (TTM)$1.9B
Operating margin15.3%
Return on capital12.1%
Debt incl. leases$8.4B
Cash & securities$2.5B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$100middle half of models $92 – $113
Overvalued
−19.2% to fair value
Average of the 12 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so multiples applied to today's profit may overstate value; model uncertainty is set to High
Price $124
Undervalued < $85Fair $85 – $121Overvalued > $121
P/E multiple
$121
P/B multiple
$74
P/S multiple
$88
EV/EBITDA multiple
$107
EV/EBIT multiple
$104
EV/revenue multiple
$98
10-year DCF, EBITDA exit
$111
5-year DCF, EBITDA exit
$123
10-year DCF, revenue exit
$108
5-year DCF, revenue exit
$117
10-year DCF, growth exit · not used
$40
5-year DCF, growth exit · not used
$37
Dividend discount, stable
$59
Dividend discount, multi-stage
$93
Earnings power value · not used
$37
Growth the price implies
38.3%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
22/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield2.3%
Fair value vs price0.8×
Growth
Weak
48/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)3.3%
EPS growth (3y)5.9%
Growth consistency90%
Profitability
Weak
40/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital12.1%
Operating margin15.3%
Gross profitability18.7%
Financial health
Weak
36/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA2.3×
Interest cover7.3×
Dividends
Weak
47/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.9%
Dividend growth2.3%
Quarterly results: last 6 quarters
+16.0%
Mar '25
+18.8%
Jun '25
+20.9%
Sep '25
+20.4%
Dec '25
+20.0%
Mar '26
+16.6%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.5B, diluted EPS $0.64.
Compare with peers
APH Amphenol Corp66 COHR Coherent Corp.32Other Electronic Components companies by X-Ray Score.
SWOT analysis: Corning Inc
Strengthsinside the company
- No standout strength in the figures we track.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Revenue growth picked up to 19.1% last year from 3.3% a year over three years.
- Our Market Compass rates the backdrop for Information Technology as favourable.
Threatsvaluation and setting
- Trades at 57.1x earnings, 73% above the 33.0x median of sector peers, so the price already assumes better results.
- The price is 19% above our fair value estimate, so there is little room for disappointment.
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
- The price trend is down on the daily and weekly signals.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare GLW with peers and sector
Medians of 74 Information Technology peers and of 74 Information Technology stocks in our universe.
Largest peers (X-Ray Score): NVDA 67, AAPL 53, MSFT 61, AVGO 60, MU 79, AMD 48.
| Metric | GLW | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 37 | 50 | 50 |
| Valuation | 21 | 52 | 52 |
| Growth | 48 | 54 | 54 |
| Profitability | 40 | 50 | 50 |
| Financial health | 36 | 50 | 50 |
| Dividends | 47 | 51 | 51 |
Sector leaders: highest X-Ray Score in Information Technology
GLW ranks #65 of 75 in Information Technology by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for GLW
Each factor is rated by where GLW stands among the 75 Information Technology stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 3 Good · 9 Average · 9 Bad of 21
Growth: 1 · 1 · 1
Profitability: 0 · 1 · 4
Financial strength: 0 · 2 · 2
Valuation: 0 · 2 · 2
Cash flow: 2 · 1 · 0
Efficiency: 0 · 2 · 0
| Factor | GLW | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +3.3% | Bad beats 29% | +9.7% | – | – |
| Revenue growth, last year | +19.1% | Good beats 69% | +13.7% | +4.2% | ▲ Better |
| EPS growth, 3 years a year | +5.9% | Average beats 50% | +5.9% | – | – |
| Profitability | |||||
| Gross margin | 36.4% | Bad beats 13% | 57.8% | 32.6% | ▲ Better |
| Operating margin | 15.3% | Bad beats 31% | 20.3% | 10.1% | ▲ Better |
| Net margin | 11.2% | Bad beats 31% | 17.8% | 9.3% | ▲ Better |
| Return on invested capital | 12.1% | Bad beats 31% | 19.4% | – | – |
| Return on equity | 15.1% | Average beats 35% | 21.0% | 11.0% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 2.3x | Bad beats 19% | 0.8x | 3.6x | ▲ Better |
| Interest cover | 7.3x | Bad beats 17% | 23.0x | 4.2x | ▲ Better |
| Current ratio | 1.81 | Average beats 58% | 1.57 | 1.59 | ▲ Better |
| Piotroski F-score | 6 / 9 | Average beats 43% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 57.1x | Bad beats 22% | 33.6x | 45.0x | ▼ Worse |
| Price / book | 8.6x | Average beats 46% | 8.3x | 2.5x | ▼ Worse |
| Price / sales | 6.4x | Average beats 55% | 6.9x | 2.2x | ▼ Worse |
| EV / EBITDA | 44.3x | Bad beats 21% | 24.7x | 35.8x | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 23.1% | Average beats 53% | 22.3% | 17.2% | ▲ Better |
| Cash from operations / net income | 2.06 | Good beats 78% | 1.39 | 1.99 | ≈ In line |
| Accruals (lower is better) | −6.1% | Good beats 69% | −4.4% | – | – |
| Efficiency | |||||
| Inventory turnover | 3.2x | Average beats 43% | 3.9x | 3.3x | ≈ In line |
| Days sales outstanding | 63 days | Average beats 49% | 63 days | 52 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 1 Good · ● 5 Average · ● 8 BadCash quality
Earnings backed by cashGood
Risk models
Altman Z''Average
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Revenue growth (3y)Bad
Growth consistencyAverage
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginBad
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 39/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $14.1B | $14.2B | $12.6B | $13.1B | $15.6B |
| Operating income | $2.1B | $1.4B | $890M | $1.1B | $2.3B |
| Net income | $1.9B | $1.3B | $581M | $506M | $1.6B |
| Operating cash flow | $3.4B | $2.6B | $2.0B | $1.9B | $2.7B |
| Operating margin | 15.0% | 10.1% | 7.1% | 8.7% | 14.6% |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $1.28 | $1.54 | $0.68 | $0.58 | $1.83 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
3 bullish · 1 neutral · 12 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 138.8 | Bearish |
| EMA 10 | 137.7 | Bearish |
| SMA 20 | 148.9 | Bearish |
| EMA 20 | 144.1 | Bearish |
| SMA 50 | 151.8 | Bearish |
| EMA 50 | 151.6 | Bearish |
| SMA 100 | 164.8 | Bearish |
| EMA 100 | 155.4 | Bearish |
| SMA 200 | 154.1 | Bearish |
| EMA 200 | 146.1 | Bearish |
Oscillators (daily)
| RSI (14) | 32.94 | Neutral |
| MACD (12, 26) | -6.82 | Bearish |
| Momentum (12) | -26.62 | Bearish |
| Stochastic %K (14) | 2.97 | Bullish |
| Williams %R (14) | -97.03 | Bullish |
| CCI (20) | -147.6 | Bullish |
Pivot points (classic, last session)
S3 114.9 | S2 118.7 | S1 121.4 | Pivot 125.2 | R1 127.8 | R2 131.6 | R3 134.2 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.12 USD
Yield on today's price
0.90%
Frequency
Quarterly
Next ex-dividend date
13 Nov 2026
| Ex-dividend date | Amount per share |
|---|---|
| (upcoming) | 0.2800 |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold GLW
| ETF | Share of the fund |
|---|---|
| SAMT The Advisorsa Inner Circle Fund III | 2.94% |
| JTEK JPMorgan U.S. Tech Leaders | 2.55% |
| TDIV First Trust NASDAQ Technology Dividend... | 2.05% |
| AIS VistaShares Artificial Intelligence Su... | 1.93% |
| QGRO American Century U.S. Quality Growth | 1.86% |
| WTAI WisdomTree Artificial Intelligence and... | 1.63% |
| MTUM iShares MSCI USA Momentum Factor | 1.26% |
| DGRW WisdomTree U.S. Quality Dividend Growt... | 1.23% |
The eight funds with the largest weight in GLW among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
GLW stock splits
GLW has split its stock once since 1992. The latest was a 2-for-1 split on 11 Feb 1992.
Full GLW stock split history →GLW SEC filings
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.