Want to see GLW full AI Analyst Report?
Top Page
Corning
(NYSE:GLW)
Select Model
Select Model
Rating:66Neutral
Price Target:
$158.00
▲(7.74% Upside)
Action:Reiterated
Date:07/29/26
GLW’s score is supported most by improving financial performance and a strong, guidance-backed earnings outlook with expanding margins and very strong recent free cash flow. Offsetting this, the technical picture is weak with the stock trading below major moving averages, and valuation is pressured by a high P/E paired with a modest dividend yield.
Positive Factors
Optical Communications growth & margins
Rapid, high-margin growth in Optical Communications reflects durable demand from hyperscale datacenters and enterprise AI builds. A segment generating record profitability and strong net margins provides predictable cash and reinvestment capacity, underpinning long-term ROIC improvement and revenue resilience versus cyclical end markets.
Negative Factors
Earnings and cash flow cyclicality
Corning's revenue and profits have historically moved with display, handset, and carrier capex cycles. This structural sensitivity can produce large swings in margins and FCF across years, complicating capital allocation and making sustained margin targets harder to guarantee absent secular demand durability in key end markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Optical Communications growth & margins
Rapid, high-margin growth in Optical Communications reflects durable demand from hyperscale datacenters and enterprise AI builds. A segment generating record profitability and strong net margins provides predictable cash and reinvestment capacity, underpinning long-term ROIC improvement and revenue resilience versus cyclical end markets.
Read all positive factors
Corning Key Performance Indicators (KPIs)
Any
Revenue by Product Category
Splits sales across product lines like display glass, optical fiber, specialty materials and device glass, showing how dependent Corning is on particular products, where secular growth (e.g., 5G, data centers, mobile devices) is coming from, and where demand or pricing risk is concentrated.
Splits sales across product lines like display glass, optical fiber, specialty materials and device glass, showing how dependent Corning is on particular products, where secular growth (e.g., 5G, data centers, mobile devices) is coming from, and where demand or pricing risk is concentrated.
Data provided by:
The Fly
The FlyCorning (GLW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$119.09B
Dividend Yield0.81%
Average Volume (3M)14.58M
Price to Earnings (P/E)62.6
Beta (1Y)1.13
Revenue Growth19.41%
EPS Growth131.24%
CountryUS
Employees67,200
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)2.21
Shares Outstanding861,388,300
10 Day Avg. Volume10,571,679
30 Day Avg. Volume14,583,725
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$188.50Price Target Upside28.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)3.27
Revenue Forecast (FY)$19.19B
Corning Business Overview & Revenue Model
Company Description
Corning Incorporated operates in optical communications, display, specialty materials, automotive, and life sciences businesses in the United States, Canada, Mexico, Japan, Taiwan, China, South Korea, Germany, and internationally. The company prov...
How the Company Makes Money
Corning makes money primarily by manufacturing and selling engineered materials and components to OEMs, network operators, and laboratories, with revenue recognized from product shipments (and, in some cases, longer-term supply arrangements). Key ...
Corning Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call presented a strong operating quarter with multiple clear growth drivers—especially in Optical Communications and Enterprise (Gen AI)—meaningfully improved margins, record free cash flow, and ambitious multi-year targets backed by major customer agreements. Key near-term challenges include a modest solar loss and upgrade-related costs, memory-driven end-market pressure, and timing uncertainty around photonics and optical Scale-Up adoption. Management emphasized risk-adjusted planning and long-term customer-backed investments to mitigate these timing risks.Positive Updates
Strong Overall Revenue and EPS Growth
Consolidated sales grew 17% year-over-year to $4.74 billion in Q2 2026; core EPS increased 30% year-over-year to $0.78, both above guided ranges.
Negative Updates
Solar Segment Loss and Disruption
Solar reported a net loss of $7 million in Q2 and incurred an additional ~$30 million of expense due to an extended maintenance shutdown and equipment upgrades at the wafer factory; profitability recovery is expected but timing risk remains.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Overall Revenue and EPS Growth
Consolidated sales grew 17% year-over-year to $4.74 billion in Q2 2026; core EPS increased 30% year-over-year to $0.78, both above guided ranges.
Read all positive updates
Company Guidance
Corning guided Q3 sales to grow ~16% year‑over‑year to $4.9–$5.0B with core EPS up ~28% to $0.85–$0.89, expects to invest roughly $2B of CapEx for the year, and to generate significantly more free cash flow while continuing to grow earnings faster than sales; under its Springboard plan it targets an internal annualized sales run rate of $20B by end‑2026, $30B by end‑2028 and $40B by end‑2030 (high‑confidence view: $27B by 2028 and $35B by 2030), a 19% CAGR from Q4‑2026 to Q4‑2030, a sustained operating margin at/above ~20%, ROIC improving from ~15% toward the high‑teens, and a $10B Photonics map by 2030 (solar targeted to $3B with above‑corporate profitability); these targets build on Q2 results of $4.74B sales (+17%), core EPS $0.78 (+30%), gross margin 39.6% (+120 bps), operating margin 20.9% (+190 bps), ROIC 14.9% (+180 bps), free cash flow $1.42B, Optical Communications sales $2.07B (+32%) with $438M net income (NPAT 21%), Enterprise sales +65% to ~$1.27B, and Solar sales $438M (+90%) (Q2 solar incurred ~$30M extra expense during a factory upgrade); assumptions include JPY150/USD and expected handheld unit weakness (memory‑driven mid‑teens unit decline) with Gorilla Glass outperforming.Corning Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
67
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.96B | 15.63B | 13.12B | 12.59B | 14.19B | 14.08B |
| Gross Profit | 6.16B | 5.51B | 4.28B | 3.93B | 4.51B | 5.06B |
| EBITDA | 3.51B | 3.73B | 2.49B | 2.51B | 3.54B | 4.21B |
| Net Income | 1.90B | 1.60B | 506.00M | 581.00M | 1.32B | 1.91B |
Balance Sheet | ||||||
| Total Assets | 32.96B | 30.98B | 27.73B | 28.50B | 29.50B | 30.15B |
| Cash, Cash Equivalents and Short-Term Investments | 2.50B | 1.53B | 1.77B | 1.78B | 1.67B | 2.15B |
| Total Debt | 9.38B | 10.22B | 8.09B | 8.48B | 7.82B | 7.83B |
| Total Liabilities | 19.83B | 18.67B | 16.66B | 16.63B | 17.22B | 17.61B |
| Stockholders Equity | 12.56B | 11.81B | 10.69B | 11.55B | 12.01B | 12.33B |
Cash Flow | ||||||
| Free Cash Flow | 2.40B | 1.41B | 974.00M | 615.00M | 1.01B | 1.77B |
| Operating Cash Flow | 3.92B | 2.69B | 1.94B | 2.00B | 2.62B | 3.41B |
| Investing Cash Flow | -1.34B | -1.24B | -744.00M | -1.00B | -1.35B | -1.42B |
| Financing Cash Flow | -1.55B | -1.67B | -1.16B | -883.00M | -1.65B | -2.45B |
Corning Technical Analysis
Neutral
146.65
Price Trends
181.77
Negative
170.71
Negative
135.29
Positive
Market Momentum
-14.99
Positive
42.47
Neutral
52.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLW, the sentiment is Neutral. The current price of 146.65 is below the 20-day moving average (MA) of 159.83, below the 50-day MA of 181.77, and above the 200-day MA of 135.29, indicating a neutral trend. The MACD of -14.99 indicates Positive momentum. The RSI at 42.47 is Neutral, neither overbought nor oversold. The STOCH value of 52.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 0 New Risks
Corning Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | $56.66B | 30.13 | 21.00% | 1.54% | 13.51% | 19.53% | |
78 Outperform | $59.55B | 19.99 | 23.18% | 1.43% | 16.53% | 110.98% | |
75 Outperform | $197.70B | 38.26 | 37.21% | 0.60% | 54.17% | 59.56% | |
73 Outperform | $10.86B | 75.86 | 9.56% | 0.54% | 13.81% | 23.79% | |
66 Neutral | $119.09B | 62.56 | 15.93% | 0.76% | 19.41% | 131.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $51.43B | 114.80 | 5.26% | ― | 18.00% | ― |
* Technology Sector Average
GLW
Corning
159.89
97.40
155.88%
APH
Amphenol
171.33
64.13
59.82%
CGNX
Cognex
71.52
29.95
72.03%
GRMN
Garmin
307.36
82.79
36.87%
COHR
Coherent Corp
323.73
218.13
206.56%
TEL
TE Connectivity
216.82
18.05
9.08%
Corning Corporate Events
Business Operations and Strategy
Corning Executives to Present at J.P. Morgan Conference
Neutral
May 15, 2026
Corning said that on May 19, 2026, Executive Vice President and Chief Financial Officer Edward A. Schlesinger and Executive Vice President and Chief Operating Officer Avery (Hal) Nelson III plan to speak at the J.P. Morgan 2026 Global Technology, ...
Business Operations and Strategy
Corning, NVIDIA Partner to Expand U.S. AI Optics Manufacturing
Positive
May 6, 2026
On May 6, 2026, NVIDIA and Corning announced a multiyear commercial and technology partnership aimed at dramatically expanding U.S.-based manufacturing of advanced optical connectivity solutions for next-generation AI infrastructure. Corning, a le...
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.