Corning (GLW)
NYSE:GLW
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Corning
(NYSE:GLW)
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Rating:64Neutral
Price Target:
$187.00
▲(6.75% Upside)
Action:ReiteratedDate:04/15/26
The score is driven by improving profitability and revenue momentum, supported by strong technical trend signals. Offsetting these positives are weaker cash conversion and a balance sheet with meaningful absolute debt, while valuation is a key headwind due to a high P/E and low dividend yield.
Positive Factors
Improved profitability and margins
Margin expansion in 2025 reflects better pricing, cost control and operational leverage versus prior years. Sustained higher margins improve internal funding for R&D and capex, raise return on equity and provide a structural buffer against cyclical downturns, aiding long-term resilience.
Negative Factors
Weak cash conversion
Persistent gap between earnings and cash suggests working-capital timing or other conversion issues. Weak cash conversion limits the company's ability to consistently fund dividends, buybacks or opportunistic investments and increases vulnerability during revenue slowdowns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability and margins
Margin expansion in 2025 reflects better pricing, cost control and operational leverage versus prior years. Sustained higher margins improve internal funding for R&D and capex, raise return on equity and provide a structural buffer against cyclical downturns, aiding long-term resilience.
Read all positive factors
Corning (GLW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$147.10B
Dividend Yield1.25%
Average Volume (3M)12.58M
Price to Earnings (P/E)47.2
Beta (1Y)1.23
Revenue Growth18.27%
EPS Growth771.78%
CountryUS
Employees56,300
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)N/A
Shares Outstanding859,014,830
10 Day Avg. Volume10,579,168
30 Day Avg. Volume12,584,303
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)6.38
Price to Sales (P/S)4.82
P/FCF Ratio53.29
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue10.05
Enterprise Value/Gross Profit28.00
Enterprise Value/Ebitda42.18
Forecast
1Y Price Target
$139.82Price Target Upside-20.18% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)3.11
Revenue Forecast (FY)$18.76B
Corning Business Overview & Revenue Model
Company Description
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid cr...
How the Company Makes Money
Corning makes money primarily by manufacturing and selling engineered materials and components to industrial and enterprise customers, with revenue concentrated in several business segments. In Optical Communications, it sells optical fiber, cable...
Corning Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across Corning’s various business lines, indicating which areas are performing well and where there might be room for growth or risk.
Breaks down sales across Corning’s various business lines, indicating which areas are performing well and where there might be room for growth or risk.
Data provided by:
The Fly
The FlyCorning Earnings Call Summary
Earnings Call Date:Jan 28, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call was predominantly positive: Corning reported strong Q4 and full‑year results with double‑digit sales growth, outsized EPS and margin expansion, substantial free cash flow improvement, and an upgraded multi‑year SpringBoard growth plan supported by major customer agreements (Meta, Apple). Optical Communications is a clear growth engine and management provided confident near‑term guidance. Key near‑term negatives include the solar ramp‑related EPS drag, some segment seasonality (display), automotive softness, and remaining timing/coverage uncertainty around additional customer agreements and longer‑term scale‑up adoption. Overall, the positives — new large customer commitments, upgraded growth targets, improved margins, and cash generation — materially outweigh the near‑term operational and timing challenges.Positive Updates
Strong Quarterly and Annual Financial Performance
Q4 sales grew 14% year‑over‑year to $4.41B and Q4 core EPS rose 26% to $0.72. Full‑year 2025 sales were a record $16.4B (up 13% YoY) and EPS was $2.52 (up 29% YoY). Operating margin expanded to 20.2% in Q4 and full‑year operating margin was 19.3% (expanding ~180 bps YoY). ROIC improved to 14.2%.
Negative Updates
Solar Ramp Dragging Near‑Term Profitability
Hemlock/solar capacity ramp is creating a near‑term profitability headwind: Q4 net income for Hemlock & Emerging was only $1M despite 62% revenue growth, and management estimates a temporary EPS drag of ~$0.03–$0.05 in Q1 2026 as capacity is brought online.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Quarterly and Annual Financial Performance
Q4 sales grew 14% year‑over‑year to $4.41B and Q4 core EPS rose 26% to $0.72. Full‑year 2025 sales were a record $16.4B (up 13% YoY) and EPS was $2.52 (up 29% YoY). Operating margin expanded to 20.2% in Q4 and full‑year operating margin was 19.3% (expanding ~180 bps YoY). ROIC improved to 14.2%.
Read all positive updates
Company Guidance
Management guided Q1 core sales to grow about 15% year‑over‑year to $4.2–$4.3 billion and core EPS to rise roughly 26% to $0.66–$0.70 (with a temporary solar‑ramp drag of ~$0.03–$0.05 in Q1), reiterated an operating‑margin target at or above 20%, and said 2026 capital expenditures will be about $1.7 billion (vs. depreciation around $1.3 billion) while still expecting materially higher free cash flow year‑over‑year; they upgraded SpringBoard targets to add $6.5 billion incremental annualized sales by 2026 (high‑confidence $5.75B) and $11 billion by 2028 (up from $8B), implying an ~ $24 billion annualized run‑rate by 2028, plan to prioritize organic investment with customer cost‑sharing (prepayments/long‑term commitments), maintain a strong balance sheet (average debt maturity ~21 years) and continue returning excess cash primarily via share buybacks, and noted display net‑income goals of $900–$950 million (target ~25% margin) and a solar plan to reach ~$2.5 billion revenue by 2028 with margins at or above the company average.Corning Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
60
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.63B | 13.12B | 12.59B | 14.19B | 14.08B |
| Gross Profit | 5.51B | 4.28B | 3.93B | 4.51B | 5.06B |
| EBITDA | 3.73B | 2.49B | 2.51B | 3.54B | 4.21B |
| Net Income | 1.60B | 506.00M | 581.00M | 1.32B | 1.91B |
Balance Sheet | |||||
| Total Assets | 30.98B | 27.73B | 28.50B | 29.50B | 30.15B |
| Cash, Cash Equivalents and Short-Term Investments | 1.53B | 1.77B | 1.78B | 1.67B | 2.15B |
| Total Debt | 10.22B | 8.09B | 8.48B | 7.82B | 7.83B |
| Total Liabilities | 18.67B | 16.66B | 16.63B | 17.22B | 17.61B |
| Stockholders Equity | 11.81B | 10.69B | 11.55B | 12.01B | 12.33B |
Cash Flow | |||||
| Free Cash Flow | 1.41B | 974.00M | 615.00M | 1.01B | 1.77B |
| Operating Cash Flow | 2.69B | 1.94B | 2.00B | 2.62B | 3.41B |
| Investing Cash Flow | -1.24B | -744.00M | -1.00B | -1.35B | -1.42B |
| Financing Cash Flow | -1.67B | -1.16B | -883.00M | -1.65B | -2.45B |
Corning Technical Analysis
Positive
175.17
Price Trends
137.00
Positive
112.80
Positive
92.06
Positive
Market Momentum
9.69
Negative
71.28
Negative
93.47
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 175.17 is above the 20-day moving average (MA) of 143.60, above the 50-day MA of 137.00, and above the 200-day MA of 92.06, indicating a bullish trend. The MACD of 9.69 indicates Negative momentum. The RSI at 71.28 is Negative, neither overbought nor oversold. The STOCH value of 93.47 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GLW.
Corning Risk Analysis
Corning disclosed 21 risk factors in its most recent earnings report. Corning reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Risks associated with the launch of a new business Q4, 2025
Corning Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $49.45B | 23.77 | 19.72% | 1.70% | 16.56% | 3.19% | |
72 Outperform | $67.43B | 22.78 | 16.50% | 1.21% | 8.94% | -39.90% | |
71 Outperform | $8.92B | 46.06 | 7.72% | 0.89% | 10.23% | 25.53% | |
70 Outperform | $173.01B | 38.55 | 35.77% | 0.54% | 47.37% | 72.30% | |
64 Neutral | $147.10B | 47.18 | 14.13% | 1.25% | 18.27% | 771.78% | |
63 Neutral | $57.65B | 48.81 | 3.58% | ― | 20.80% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
GLW
Corning
175.17
134.01
325.59%
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Corning Corporate Events
Business Operations and Strategy
Corning CFO to Present Business Update at Conference
Neutral
Feb 27, 2026
Corning said that Executive Vice President and Chief Financial Officer Edward Schlesinger will speak at the Morgan Stanley Technology, Media Telecom Conference on March 3, 2026, at 11:30 a.m. Eastern Time, where he will provide business updates. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.