Corning Incorporated (GLW)

NYSE: GLW · USD

$131

+5.17 (+4.1%)· Recorded snapshot

英文原文ZH

翻译期间显示英文原文

此报告尚未翻译。翻译队列赶上后请在几分钟内刷新。

StockMarketAgent Research · Analyzed 2026-09-26

Our latest published analysis: GLW rated Sell

Corning Incorporated's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$42.9 / share

Potential value

$62.0 / share

Upside to FV

-72.6%

from $131

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$132.8B
Revenue (ttm)	17.7B
Net income (ttm)	2.2B
EPS (ttm)	$2.47
Shares out	861.4M
P/E (trailing)	53.2x
P/E (forward)	38.5x
Dividend	$1.12 (0.85%)
Volume	10,038,692
Beta	1.12

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 17.7B
Net income (ttm): 2.2B
EPS (ttm): $2.47
P/E (trailing): 53.2x
P/E (forward): 38.5x
Market cap: $132.8B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$14.08B	$14.19B	$12.59B	$13.12B	$15.63B	+2.6%
Gross profit	$5.06B	$4.51B	$3.93B	$4.28B	$5.62B	+2.6%
Operating income	$2.11B	$1.44B	$890.0M	$1.14B	$2.28B	+1.9%
Net income	$1.91B	$1.32B	$581.0M	$506.0M	$1.60B	-4.3%
EPS (diluted)	$1.28	$1.54	$0.68	$0.58	$1.83	+9.3%
EBITDA	$4.21B	$3.54B	$890.0M	$2.49B	$3.74B	-2.9%
R&D	$800.0M	$900.0M	$900.0M	$800.0M	$800.0M	+0.0%
SG&A	$1.83B	$1.90B	$1.84B	$1.93B	$2.12B	+3.8%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	卖出
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	减持
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	持有
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	卖出
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	强力买入
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	卖出

Base and Bull scenarios

Base60%

Price target

$42.88

-72.6% from spot

In the Base case, Corning achieves consensus revenue growth of 23.21% in FY2026 and 19.18% in FY2027, reaching its $20B annualized run-rate target. Operating margins expand steadily from 14.58% in FY2025 to 15.5% in FY2026 and 18.0% by FY2029 as factory overhead is absorbed. Capital expenditures normalize from $2.0B in FY2026 back toward maintenance levels of 5.7% of sales.

FY2026 revenue grows 23.21% to $19.26B and FY2027 revenue reaches $22.95B (19.18% growth)
Operating margin expands from 14.58% in FY2025 to 15.5% in FY2026 and 18.0% by FY2029
FY2026 capital expenditures scale to ~$2.0B before normalizing toward 5.7% of revenue
Normalized exit multiple of 16.0x forward P/E and 2.50% terminal growth

Bull20%

Price target

$61.96

-60.5% from spot

In the Bull case, generative AI cluster interconnect density scales faster than anticipated, driving enterprise optical content per GPU beyond 1.5x by 2028 and expanding Optical Communications toward a $10B annual run-rate. Volume throughput across fusion draw tanks delivers pronounced operating leverage, lifting consolidated operating margin to management's target of 20.0%. Robust free cash flow expansion allows accelerated debt paydown alongside dividend growth.

Enterprise optical content per GPU expands beyond 1.5x by 2028
Consolidated operating margin reaches 20.0% through fixed overhead leverage
Optical Communications segment revenue approaches $10B by 2030
Terminal forward P/E multiple sustains at 19.0x

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($42.88). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.3%	$45.8	$46.6	$47.5	$48.5	$49.5
8.8%	$43.6	$44.3	$45.0	$45.8	$46.7
9.3%	$41.7	$42.3	$42.9	$43.6	$44.3
9.8%	$40.0	$40.5	$41.0	$41.6	$42.2
10.3%	$38.4	$38.9	$39.3	$39.8	$40.3

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E38.5

P25 n/aP50 n/aP75 n/a

Trailing P/E71.4

P25 n/aP50 n/aP75 n/a

ROE17.9

P25 n/aP50 n/aP75 n/a

ROIC12.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All GLW indicators

Market & fundamental data

Available fields

292

Groups with data

Currency

USD

Showing 292 of 292 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000024741
Company name	Corning Incorporated
Country	United States
Country code	US
CUSIP number	219350105
Earnings date	2026-10-27
Earnings time	bmo
Employees	67,200
Employees change	10,900
Employees growth	19.36%
Enterprise value	$118.9B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1851
In index	SP500
Industry	Electronic Components
Is primary listing	Yes
Is SPAC	No
ISIN number	US2193501051
Last 10-K release date	2026-02-12
Last earnings date	2026-10-27
Last refreshed	2026-10-28
Last stock split date	2000-10-04
Last stock split type	Forward
Market cap	$113.2B
Market cap category	Large-Cap
Next earnings date	2027-01-27
Options	Yes
Price	$131.47
Price currency	USD
Sector	Technology
SIC code	3357
Stock price date	2026-10-28
Symbol	GLW
U.S. state	New York
Website	https://www.corning.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	42.27x
Average P/E ratio (10Y)	52.65x
Average P/E ratio (3Y)	81.38x
Average P/E ratio (5Y)	60.33x
Earnings yield	1.88%
EV/Earnings	54.92x
EV/EBIT	39.82x
EV/EBITDA	26.49x
EV/FCF	47.98x
EV/Sales	6.66x
FCF / EV yield	2.08%
FCF yield	2.19%
Forward EV/Sales	5.24x
Forward P/E	31.68x
Forward P/S	4.98x
Graham number	28.96597
Graham upside	-77.8%
Industry forward P/E	21.97x
Industry P/E	38.98x
Lynch fair value	$52.62
Lynch upside	-59.68%
P/(FCF - SBC) ratio	53.71x
P/(OCF - SBC) ratio	29.4x
P/B ratio	8.37x
P/E ratio	53.2x
P/FCF ratio	45.68x
P/OCF ratio	26.82x
P/S ratio	6.34x
PEG ratio	0.94x
Price / tangible book value	10.6x
Price/EBITDA ratio	25.22x
Sector forward P/E	18.55x
Sector P/E	32.64x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	16.73%
EBITDA margin	25.15%
Effective tax rate	16.78%
FCF margin	13.89%
Gross margin	36.48%
Operating margin	16.73%
Pretax margin	15.94%
Profit margin	12.13%
Profit per employee	$31,994
Profitable quarters	7
Profitable years	8
Revenue per employee	$263,676
ROA	5.79%
ROA (5Y)	3.8%
ROCE	10.77%
ROE	17.88%
ROE (5Y)	10.3%
ROIC	12.35%
ROIC (5Y)	7.69%
SBC / revenue	2.08%
Tax / revenue	2.68%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	58.52%
EPS growth (Q)	56%
EPS growth (QoQ)	21.88%
EPS growth 10Y	2.33%
EPS growth 3Y	53.73%
EPS growth 5Y	19.75%
EPS growth quarters	5
EPS growth years	1
FCF growth	111.79%
FCF growth (Q)	14.67%
FCF growth (QoQ)	-60.15%
FCF growth 3Y	84.01%
FCF growth 5Y	6.96%
Gross profit growth	21.57%
Gross profit growth (Q)	19.08%
Gross profit growth 3Y	13.1%
Gross profit growth 5Y	5%
Net income growth	57.39%
Net income growth (Q)	58.14%
Net income growth (QoQ)	21.65%
Net income growth 3Y	54.32%
Net income growth 5Y	21.29%
Net income growth quarters	5
Net income growth years	1
OCF growth	85%
OCF growth (Q)	35.33%
OCF growth (QoQ)	-38.21%
OCF growth 10Y	7.3%
OCF growth 3Y	29.98%
OCF growth 5Y	5.79%
Operating income growth	47.37%
Operating income growth (Q)	52.6%
Operating income growth 3Y	24.84%
Operating income growth 5Y	5.47%
Revenue growth	18.8%
Revenue growth (Q)	18.42%
Revenue growth (QoQ)	7.77%
Revenue growth 10Y	6.84%
Revenue growth 3Y	10.87%
Revenue growth 5Y	5.19%
Revenue growth quarters	9
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.7B
Depreciation and amortization	$1.5B
EBIT	$3B
EBITDA	$4.5B
EPS	$2.47
FCF per share	$2.86
Financing cash flow	$-1.8B
Free cash flow	$2.5B
Free cash flow minus SBC	$2.1B
Gross profit	$6.5B
Income taxes	$474M
Investing cash flow	$-1.5B
Net borrowing	$-991M
Net cash flow	$903M
Net income	$2.2B
Operating cash flow minus SBC	$3.8B
Operating income	$3B
Revenue	$17.7B
Stock-based compensation	$368M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$15.09
Debt / EBITDA	1.82
Debt / equity	0.57
Debt / FCF	3.33
Goodwill	$2.5B
Interest coverage	8.1
Long-term assets	$22.8B
Long-term liabilities	$13.3B
Net cash (debt)	$-5.7B
Net cash / market cap	-5.04%
Net debt / EBITDA	1.27
Net debt / equity	0.4
Net debt / FCF	2.3
Piotroski F-Score	7
Property, plant and equipment	$15.5B
Shareholders' equity	$14.3B
Tangible book value	$10.6B
Tangible book value per share	$11.70
Total assets	$34.1B
Total cash	$2.5B
Total debt	$8.2B
Total liabilities	$19.8B
WACC	9.97%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.55
Current assets	$11.3B
Current liabilities	$6.6B
Current ratio	1.72
Inventory turnover	3.33
Net working capital	$3.2B
Quick ratio	0.86
Working capital	$4.8B
Working capital turnover	4.51

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.15%
Dividend growth	0%
Dividend growth (10Y)	7.57%
Dividend growth (3Y)	0%
Dividend growth (5Y)	3.13%
Dividend growth years	0
Dividend payment date	2026-12-11
Dividend payment years	20
Dividend payout frequency	Quarterly
Dividend per share	$1.12
Dividend yield	0.85%
Ex-dividend date	2026-11-13
FCF payout ratio	39.2%
Last dividend	$0.28
Payout ratio	45.32%
Shareholder yield	1.01%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	476.48%
10Y return CAGR	22.18%
10Y total return	641.3%
150-day SMA	$165.70
15Y price change	756.87%
15Y return CAGR	18.3%
15Y total return	1,143.92%
1D price change	4.09%
1M price change	-15.7%
1M total return	-15.7%
1W price change	-2.07%
1W total return	-2.07%
1Y price change	47.85%
1Y return CAGR	49.18%
1Y total return	49.14%
20-day SMA	$143.33
200-day SMA	$155.30
20Y price change	541.72%
20Y return CAGR	12.09%
20Y total return	879.91%
3M price change	-7.83%
3M total return	-7.66%
3Y price change	396.92%
3Y return CAGR	74.23%
3Y total return	429.11%
50-day SMA	$148.95
50-day SMA vs 200-day SMA	50under200
52-week high	$271.78
52-week high date	2026-06-30
52-week low	$77.39
52-week low date	2025-11-21
5Y price change	273.35%
5Y return CAGR	33.45%
5Y total return	323.11%
6M price change	-21.36%
6M total return	-21.09%
All-time high	$271.78
All-time high date	2026-06-30
All-time low	$1.04
All-time low date	1974-12-18
Average true range (ATR)	$7.74
Average volume	8.9M
Beta (1Y)	1.53
Beta (2Y)	1.3
Beta (5Y)	1.12
Change from 52-week high	-51.63%
Change from 52-week low	69.88%
Change from all-time high	-51.38%
Change from all-time low	12,580.42%
Change from open	2.41%
Day's gap	1.64%
Dollar volume	$1.3B
High price	$133.01
Low price	$125.50
Monthly RSI	54.43
Open price	$128.37
Position in 52-week range	79.49%
Premarket change	2.2%
Premarket close	$126.30
Premarket price	$129.08
Premarket volume	239.9K
Previous close	$126.30
Price vs 150-day SMA	-20.26%
Price vs 20-day SMA	-7.81%
Price vs 200-day SMA	-14.92%
Price vs 50-day SMA	-11.29%
Relative volume	1.14
RSI	41.91
Sharpe ratio	0.86
Sharpe ratio (3Y)	1.28
Sharpe ratio (5Y)	0.76
Sortino ratio	1.36
Sortino ratio (3Y)	2.08
Sortino ratio (5Y)	1.3
Volume	10M
Weekly RSI	44.4
YTD price change	50.9%
YTD total return	51.7%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	790.6M
Float percentage	91.78%
Shares change (QoQ)	-0.37%
Shares change (YoY)	-0.15%
Shares held by insiders	0.22%
Shares held by institutions	74.3%
Shares outstanding	861.4M
Short % of float	2.13%
Short % of shares	1.96%
Short ratio	2 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	880

Deeper analysis on GLW

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this GLW report

What is the latest published GLW stock rating?

Corning Incorporated is shown with Sell in the latest published report, analyzed 2026-09-26. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full GLW analysis?

The full latest published report, analyzed 2026-09-26, lives at /stocks/GLW/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for GLW?

The latest published report analyzed 2026-09-26 gives GLW a fair value of USD 43 and a potential value of USD 62. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the GLW page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-26). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellGLW · Fair value $42.9-72.6%

Read full analysis →

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	7.0
Profitability	6.5
Revenue Growth	7.5
Risk Assessment	6.5
Competitive Moat	7.0
Earnings Quality	8.0
Capital Efficiency	5.5

Corning Incorporated (GLW)

Our latest published analysis: GLW rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · GLW

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All GLW indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on GLW

Frequently asked questions

评级历史