Corning (GLW) AI Stock Analysis

• Market Cap: $43.49B
• Dividend Yield: 2.21%
• Average Volume (3M): 5.40M
• Price to Earnings (P/E): 97.2
• Beta (1Y): 1.18
• Revenue Growth: 9.77%
• EPS Growth: -26.50%
• Country: US
• Employees: 56,300
• Sector: Basic Materials
• Sector Strength: 69
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.54
• Shares Outstanding: 856,471,440
• 10 Day Avg. Volume: 6,055,624
• 30 Day Avg. Volume: 5,402,705
• PEG Ratio: -7.03
• Price to Book (P/B): 3.60
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 35.98
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: 0.88
• Enterprise Value/Gross Profit: 10.13
• Enterprise Value/Ebitda: 4.75
• 1Y Price Target: $51.17
• Price Target Upside: 0.81% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 64 Neutral
• Price Target: $54.00 ▲(6.38%Upside)

Corning's strong earnings guidance and positive sentiment from the earnings call are significant positives, supporting future growth potential. However, technical indicators suggest caution due to overbought conditions, and the high P/E ratio raises concerns about overvaluation. Financial performance is stable, but areas like net profit margin and ROE need improvement.

Positive Factors

Financial Performance

Corning reported strong results for F1Q with revenue of $3.68bn and EPS of $0.54, exceeding expectations.

Market Position

Corning has a strong market position in the U.S. Solar industry due to their 100% U.S.-based manufacturing.

Optical Segment Growth

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

Automotive Sales Decline

Automotive sales were down 10% year-over-year due to softness in European markets and North America Class 8 lagging.

Consumer Demand Uncertainty

TV demand outlook remains uncertain, and consumers are spending cautiously amid inflation concerns, which is leading to reduced panel purchases in 2Q25.

Fab Utilization Decrease

Fab utilization in May and June is expected to decrease below 80% from its peak level in 1Q25 in response to weaker demand.

Corning Business Overview & Revenue Model

Company Description

Corning Incorporated is a leading innovator in materials science, with a distinguished history of delivering life-changing innovations. The company operates in five primary business sectors: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning is renowned for its expertise in glass science, ceramics science, and optical physics, which it applies to develop products that enhance and enable a wide range of industries.

How the Company Makes Money

Corning makes money through a diversified revenue model centered around its five business segments. The Display Technologies segment primarily generates revenue from the sale of glass substrates used in LCDs for televisions, computers, and other devices. The Optical Communications segment earns income by providing optical fiber, cable, and hardware solutions for telecommunications networks. Environmental Technologies contributes to revenue by supplying ceramic substrates and filters to control emissions in automotive and industrial applications. Specialty Materials generates sales through advanced materials like Gorilla Glass, used in consumer electronics. Finally, the Life Sciences segment earns revenue by providing laboratory products and services to pharmaceutical and biotech companies. Significant partnerships with major manufacturers and continuous investment in R&D further bolster Corning's revenue streams.

Corning Financial Statement Overview

Summary

Corning's financial performance is stable with moderate revenue growth and strong cash flow, as reflected in an overall financial statement score of 71.33. The company exhibits efficient cost management with a gross profit margin of 32.97%, but the net profit margin of 3.34% indicates room for improvement in profitability. The balance sheet is solid with a moderate debt-to-equity ratio of 0.68, while cash flow metrics demonstrate robust cash generation.

Income Statement

Corning's revenue growth is moderate with a 3.64% increase in TTM compared to the previous year. The gross profit margin stands at a healthy 32.97% for TTM, indicating efficient production cost management. However, the net profit margin has decreased to 3.34%, reflecting potential cost pressures or inefficiencies. The EBIT margin is at 10.98%, showing reasonable operating efficiency, while EBITDA margin of 15.75% indicates a solid cash-generating ability.

Balance Sheet

The balance sheet is stable with a debt-to-equity ratio of 0.68, which is manageable and indicates moderate leverage. Return on Equity (ROE) is relatively low at 4.24% for TTM, suggesting limited profitability relative to shareholder equity. An equity ratio of 39.12% reflects a solid equity base relative to total assets, providing a cushion against liabilities.

Cash Flow

Free cash flow has grown by 10.20% in TTM, signifying improved cash generation. The operating cash flow to net income ratio of 4.39 indicates strong cash conversion from net income. The free cash flow to net income ratio stands at 2.36, reflecting effective cash management relative to earnings.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
13.60B	13.12B	12.59B	14.19B	14.08B	11.30B
	Gross Profit
4.48B	4.28B	3.93B	4.51B	5.06B	3.53B
	EBIT
1.49B	1.14B	890.00M	1.44B	2.11B	509.00M
	EBITDA
2.34B	2.49B	2.51B	3.36B	3.77B	2.87B
	Net Income Common Stockholders
454.00M	506.00M	581.00M	1.32B	1.91B	512.00M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.36B	1.77B	1.78B	1.67B	2.15B	2.67B
	Total Assets
27.39B	27.73B	28.50B	29.50B	30.14B	30.77B
	Total Debt
8.15B	8.09B	8.48B	7.82B	7.04B	8.00B
	Net Debt
6.79B	6.32B	6.71B	6.15B	4.90B	5.32B
	Total Liabilities
16.27B	16.66B	16.63B	17.22B	17.60B	17.33B
	Stockholders Equity
10.72B	10.69B	11.55B	12.01B	12.33B	13.26B
Cash Flow		Free Cash Flow
1.07B	974.00M	615.00M	1.01B	1.77B	803.00M
	Operating Cash Flow
1.99B	1.94B	2.00B	2.62B	3.41B	2.18B
	Investing Cash Flow
-725.00M	-744.00M	-1.00B	-1.35B	-1.42B	-1.31B
	Financing Cash Flow
-1.26B	-1.16B	-883.00M	-1.65B	-2.45B	-729.00M

Corning Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 50.76
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• 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 50.76 is above the 20-day moving average (MA) of 47.99, above the 50-day MA of 45.17, and above the 200-day MA of 46.21, indicating a bullish trend. The MACD of 1.51 indicates Negative momentum. The RSI at 73.25 is Negative, neither overbought nor oversold. The STOCH value of 88.81 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
KEYS	78 Outperform	$27.67B	37.83	14.30%	―	-1.16%	-7.04%
TDY	77 Outperform	$23.37B	28.47	8.61%	―	2.98%	-5.64%
GRMN	77 Outperform	$39.08B	26.73	19.04%	1.47%	18.08%	7.28%
FTV	77 Outperform	$23.88B	30.85	7.70%	0.44%	0.85%	-10.01%
TEL	76 Outperform	$47.41B	35.04	11.33%	1.64%	1.23%	-58.22%
GLW	64 Neutral	$43.49B	97.17	4.14%	2.21%	9.77%	-26.50%
Sector *	51 Neutral	$2.01B	-1.11	-21.16%	3.67%	2.69%	-30.65%

Corning Corporate Events

Corning CEO to Present at J.P. Morgan Conference

On May 14, 2025, Wendell P. Weeks, Chairman and CEO of Corning Incorporated, will speak at the J.P. Morgan 53rd Annual Global Technology, Media and Communications Conference. He will discuss the company’s recent Springboard plan upgrade and provide updates on its Optical Communications and Solar business segments.

The most recent analyst rating on (GLW) stock is a Buy with a $45.00 price target. To see the full list of analyst forecasts on Corning stock, see the GLW Stock Forecast page.

Corning Announces Executive Leadership Changes April 2025

On April 30, 2025, Corning announced several executive changes, including the retirement of Eric S. Musser, the President and Chief Operating Officer, in mid-2025 after 39 years of service. Avery H. Nelson III was appointed as Executive Vice President and will become Chief Operating Officer upon Musser’s retirement. Lewis A. Steverson was appointed Vice Chairman while maintaining his roles as Executive Vice President and Chief Legal and Administrative Officer. John Z. Zhang was named Executive Vice President and Chief Corporate Development Officer, and Wendell P. Weeks will reassume the role of President, in addition to his current roles, upon Musser’s retirement. These changes are aimed at strengthening the company’s leadership and aligning with its strategic objectives.

Corning Reports Strong Q1 2025 Financial Results

Corning announced its first-quarter 2025 financial results, highlighting a 13% year-over-year increase in core sales to $3.7 billion and a 42% rise in core EPS to $0.54. The company reported strong demand for its new Gen AI products and U.S.-made solar products, contributing to a 106% growth in enterprise sales within the Optical Communications segment. Corning is accelerating its U.S. manufacturing to meet this demand and expects continued growth in the second quarter, with projected core sales of approximately $3.85 billion and core EPS growth outpacing sales.

Corning to Host Investor Event at NYSE

On March 18, 2025, Corning Incorporated will host an Investor Event at the New York Stock Exchange to update stakeholders on its Springboard plan and financial performance. CEO Wendell Weeks will also appear on CNBC to discuss these topics. The event aims to reinforce Corning’s leadership in key markets and provide strategic business updates, with a live webcast available for those unable to attend.