Stock GLW CORNING INCORPORATED
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Financials Corning Incorporated

Equities

GLW

US2193501051

Electronic Equipment & Parts

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
31.33 USD -0.06% Intraday chart for Corning Incorporated +0.19% +2.89%
Apr. 11 JPMorgan Raises Corning's Price Target to $36 From $34, Maintains Neutral Rating MT
Apr. 08 UBS Adjusts Corning Price Target to $35 From $34, Maintains Neutral Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 22,389 27,533 31,772 27,015 25,979 26,798 - -
Enterprise Value (EV) 1 27,695 32,857 36,668 32,255 31,726 32,429 32,200 31,829
P/E ratio 27.2 x 66.7 x 29.1 x 20.7 x 44.8 x 23 x 16.9 x 15.9 x
Yield 2.75% 2.44% 2.58% - - 3.61% 3.81% 3.99%
Capitalization / Revenue 1.92 x 2.4 x 2.25 x 1.82 x 1.91 x 1.97 x 1.85 x 1.77 x
EV / Revenue 2.38 x 2.87 x 2.6 x 2.18 x 2.34 x 2.38 x 2.23 x 2.1 x
EV / EBITDA 8.22 x 10.5 x 9.61 x 8.18 x 9.09 x 8.56 x 7.95 x 7.68 x
EV / FCF 523 x 34.7 x 20.4 x 31.9 x 36.1 x 25 x 21.6 x 14 x
FCF Yield 0.19% 2.89% 4.91% 3.13% 2.77% 4% 4.63% 7.12%
Price to Book 1.72 x 2.08 x 2.51 x 2.19 x 2.24 x 2.29 x 2.2 x 2.12 x
Nbr of stocks (in thousands) 769,110 764,811 853,408 845,811 853,182 855,352 - -
Reference price 2 29.11 36.00 37.23 31.94 30.45 31.33 31.33 31.33
Announcement Date 1/29/20 1/27/21 1/26/22 1/31/23 1/30/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,656 11,452 14,120 14,805 13,580 13,630 14,472 15,157
EBITDA 1 3,371 3,132 3,814 3,942 3,490 3,790 4,048 4,146
EBIT 1 1,981 1,733 2,462 2,490 2,243 2,456 2,749 2,915
Operating Margin 17% 15.13% 17.44% 16.82% 16.52% 18.02% 18.99% 19.23%
Earnings before Tax (EBT) 1 1,216 623 2,397 1,797 816 1,445 1,978 2,184
Net income 1 960 512 1,906 1,316 581 1,412 1,735 1,835
Net margin 8.24% 4.47% 13.5% 8.89% 4.28% 10.36% 11.99% 12.1%
EPS 2 1.070 0.5400 1.280 1.540 0.6800 1.364 1.849 1.973
Free Cash Flow 1 53 948 1,800 1,011 880 1,297 1,491 2,266
FCF margin 0.45% 8.28% 12.75% 6.83% 6.48% 9.52% 10.3% 14.95%
FCF Conversion (EBITDA) 1.57% 30.27% 47.19% 25.65% 25.21% 34.23% 36.84% 54.66%
FCF Conversion (Net income) 5.52% 185.16% 94.44% 76.82% 151.46% 91.89% 85.96% 123.54%
Dividend per Share 2 0.8000 0.8800 0.9600 - - 1.131 1.195 1.249
Announcement Date 1/29/20 1/27/21 1/26/22 1/31/23 1/30/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 3,639 3,714 3,744 3,762 3,666 3,633 3,367 3,482 3,459 3,272 3,116 3,335 3,553 3,583 3,438
EBITDA 1 1,029 950 1,001 1,051 945 853 833 921 887 849 797.4 931.5 1,029 1,054 949
EBIT 1 690 603 659 706 618 507 523 609 577 534 485.8 588 679.5 694.6 612.2
Operating Margin 18.96% 16.24% 17.6% 18.77% 16.86% 13.96% 15.53% 17.49% 16.68% 16.32% 15.59% 17.63% 19.13% 19.39% 17.81%
Earnings before Tax (EBT) 1 480 576 761 750 260 4 228 409 217 -38 159 246.5 345.8 354.6 -
Net income 1 371 487 581 563 208 -36 176 281 164 -40 254.6 332.2 406.6 416.9 381.2
Net margin 10.2% 13.11% 15.52% 14.97% 5.67% -0.99% 5.23% 8.07% 4.74% -1.22% 8.17% 9.96% 11.45% 11.63% 11.09%
EPS 2 0.4300 0.5600 0.6800 0.6600 0.2400 -0.0400 0.2000 0.3300 0.1900 -0.0500 0.2611 0.3427 0.4286 0.4406 0.4535
Dividend per Share 2 0.2400 0.2400 0.2700 0.2700 0.2700 - 0.2800 0.2800 - - 0.2817 0.2817 0.2817 0.2817 0.3080
Announcement Date 10/26/21 1/26/22 4/26/22 7/26/22 10/25/22 1/31/23 4/25/23 7/25/23 10/24/23 1/30/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 5,306 5,324 4,896 5,240 5,747 5,631 5,402 5,031
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.574 x 1.7 x 1.284 x 1.329 x 1.647 x 1.486 x 1.335 x 1.213 x
Free Cash Flow 1 53 948 1,800 1,011 880 1,297 1,491 2,267
ROE (net income / shareholders' equity) 11.8% 9.46% 14.9% 14.7% 12.4% 12.8% 14.9% 15.3%
ROA (Net income/ Total Assets) 5.6% 4.15% 6.26% 6.02% 5.04% 2.89% 4.73% 5.68%
Assets 1 17,157 12,349 30,459 21,859 11,517 48,775 36,670 32,320
Book Value Per Share 2 16.90 17.30 14.90 14.60 13.60 13.70 14.20 14.80
Cash Flow per Share 2 2.260 2.820 4.040 3.050 2.360 2.770 3.560 3.980
Capex 1 1,978 1,377 1,637 1,604 1,390 1,201 1,291 1,445
Capex / Sales 16.97% 12.02% 11.59% 10.83% 10.24% 8.81% 8.92% 9.53%
Announcement Date 1/29/20 1/27/21 1/26/22 1/31/23 1/30/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Corning Incorporated

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
31.33 USD
Average target price
35.01 USD
Spread / Average Target
+11.74%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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