Corning (GLW) AI Stock Analysis

• Market Cap: $57.74B
• Dividend Yield: 1.67%
• Average Volume (3M): 5.42M
• Price to Earnings (P/E): 70.7
• Beta (1Y): 1.11
• Revenue Growth: 14.63%
• EPS Growth: 86.61%
• Country: US
• Employees: 56,300
• Sector: Technology
• Sector Strength: 83
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.60
• Shares Outstanding: 856,618,700
• 10 Day Avg. Volume: 4,318,715
• 30 Day Avg. Volume: 5,415,319
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 3.73
• Enterprise Value/Gross Profit: 10.71
• Enterprise Value/Ebitda: 18.70
• 1Y Price Target: $68.00
• Price Target Upside: 1.12% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12

• Rating: 71 Outperform
• Price Target: $69.00 ▲(2.60% Upside)

Corning's strong financial performance and positive earnings call are the primary drivers of its stock score. The company's robust cash flow and strategic growth initiatives in key segments like Optical Communications and Solar are significant positives. However, the high P/E ratio suggests overvaluation, and technical indicators point to a potential short-term pullback, moderating the overall score.

Positive Factors

Optical segment growth

Corning shares have shown a 17% increase year-to-date, reflecting optimism in its Optical segment linked to AI drivers.

Revenue growth outlook

The robust revenue and margin drivers support a strong earnings growth outlook, reinforcing the positive sentiment towards Corning's stock.

Solar market potential

Corning is projected to drive significant growth in its Optical segment due to data center expansion and new market access opportunities, particularly in Solar.

Negative Factors

Supply chain costs

Ongoing uncertainties, particularly surrounding tariff policies, rising supply chain costs, and broader macroeconomic headwinds, continue to weigh on market sentiment.

TV market pressure

TV makers are under pressure to navigate tougher competition in the stagnant TV market, which is eroding their profit margins.

Valuation concerns

Trading over 20x P/E, there isn't a lot of room for valuation, particularly given guidance not likely to be meaningfully better in EPS than Street.

Corning Business Overview & Revenue Model

Company Description

Corning Incorporated (GLW) is a global leader in materials science, specializing in glass, ceramics, and optical physics. The company operates through four primary segments: Display Technologies, Optical Communications, Environmental Technologies, and Specialty Materials. Corning is well-known for its innovative products, including Gorilla Glass used in smartphones and tablets, optical fibers for telecommunications, and advanced glass substrates for displays. With a strong focus on research and development, Corning continually seeks to enhance its product offerings and expand into new markets.

How the Company Makes Money

Corning generates revenue through multiple key streams, primarily from the sale of its specialty glass and ceramics products. The Display Technologies segment contributes significantly by supplying glass substrates for LCD and OLED displays, while the Optical Communications segment earns revenue from optical fiber, cable, and connectivity solutions for telecommunications networks. Environmental Technologies produces products that reduce emissions in automotive applications, further diversifying revenue sources. Corning also benefits from strategic partnerships with major technology companies and manufacturers, which enhances its distribution channels and market presence. Additionally, ongoing investments in research and development allow Corning to introduce innovative products that meet evolving customer needs, thus driving future revenue growth.

Corning Financial Statement Overview

Summary

Corning exhibits a strong financial position with healthy revenue growth and robust cash generation. The company maintains stable margins and a well-balanced capital structure, although profitability margins have faced some pressure.

Income Statement

Corning's income statement reflects strong profitability with gross profit margin at 34.8% and a net profit margin of 5.8% for TTM (Trailing-Twelve-Months). Revenue growth is solid at 8.3% compared to the previous annual period, showcasing strong growth dynamics. However, margins have seen some compression compared to historical highs, indicating potential pressure on profitability.

Balance Sheet

The balance sheet demonstrates moderate leverage with a debt-to-equity ratio of 0.67 and a stable equity ratio of 38.7%. The return on equity is 7.4%, reflecting decent returns for shareholders. Overall, the balance sheet is well-structured with manageable debt levels, although there is room for enhancing equity returns.

Cash Flow

Corning's cash flow is robust with an operating cash flow to net income ratio of 2.66, indicating strong cash generation relative to net earnings. Free cash flow growth is impressive at 22.6% year-over-year, underscoring effective cash management. The company exhibits a strong capacity to generate and sustain cash flows, supporting financial stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	14.21B	13.12B	12.59B	14.19B	14.08B	11.30B
Gross Profit	4.94B	4.28B	3.93B	4.51B	5.06B	3.53B
EBITDA	2.83B	2.49B	2.51B	3.54B	4.21B	2.42B
Net Income	819.00M	506.00M	581.00M	1.32B	1.91B	512.00M
Balance Sheet
Total Assets	28.75B	27.73B	28.50B	29.50B	30.15B	30.77B
Cash, Cash Equivalents and Short-Term Investments	1.49B	1.77B	1.78B	1.67B	2.15B	2.67B
Total Debt	8.50B	8.09B	8.48B	7.82B	7.83B	8.70B
Total Liabilities	17.20B	16.66B	16.63B	17.22B	17.61B	17.33B
Stockholders Equity	11.12B	10.69B	11.55B	12.01B	12.33B	13.26B
Cash Flow
Free Cash Flow	1.19B	974.00M	615.00M	1.01B	1.77B	803.00M
Operating Cash Flow	2.18B	1.94B	2.00B	2.62B	3.41B	2.18B
Investing Cash Flow	-872.00M	-744.00M	-1.00B	-1.35B	-1.42B	-1.31B
Financing Cash Flow	-1.25B	-1.16B	-883.00M	-1.65B	-2.45B	-729.00M

Corning Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 67.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLW, the sentiment is Positive. The current price of 67.25 is above the 20-day moving average (MA) of 65.04, above the 50-day MA of 58.09, and above the 200-day MA of 50.12, indicating a bullish trend. The MACD of 2.48 indicates Positive momentum. The RSI at 76.15 is Negative, neither overbought nor oversold. The STOCH value of 89.37 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GLW.

Corning Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GRMN	82 Outperform	$44.77B	28.71	20.73%	1.34%	19.65%	13.58%
APH	81 Outperform	$134.18B	43.78	31.02%	0.60%	40.51%	49.81%
CGNX	77 Outperform	$7.37B	61.61	8.10%	0.72%	10.14%	57.53%
TEL	72 Outperform	$61.14B	42.35	11.63%	1.31%	4.86%	-56.43%
GLW	71 Outperform	$57.74B	70.70	7.55%	1.67%	14.63%	86.61%
Sector *	61 Neutral	$35.62B	7.50	-10.94%	1.87%	8.86%	-10.27%
COHR	59 Neutral	$14.27B	―	0.63%	―	23.42%	71.17%

Corning Corporate Events

Corning Secures New $1.5 Billion Credit Agreement

On July 28, 2025, Corning Incorporated entered into a new $1.5 billion Credit Agreement with JPMorgan Chase Bank, replacing its previous agreement from June 6, 2022. This agreement allows Corning and its subsidiaries to borrow in multiple currencies up to the commitment amount, with the possibility of increasing it by $500 million. The agreement includes various covenants and conditions, such as maintaining a specific debt ratio and limitations on liens and subsidiary indebtedness. The termination date is set for July 28, 2030, with potential extensions, and at the time of execution, no borrowings were outstanding under the previous or new agreements.