GLW
CORNING INC /NY
Industrials • CIK: 0000024741
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Market Cap
$74.89B
P/E (TTM)
47.1x
Rev Growth (TTM)
+19.1%
Net Margin (TTM)
10.2%
FCF Yield (TTM)
3.6%
FCF Margin (TTM)
17.2%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$2.7B
Q4 '25
$1.1B+34%
Q3 '25
$784M+11%
FCF Margin
TTM17.2%
Q4 '2525.0%+31%
Sector: 5.4%Top 10%
OCF Margin17.2%
OCF/NI1.69x
CapEx Coverage–
FCF Yield3.6%
FCF Growth (2Y)+1%
Cash Conversion Cycle
96 days
DSO: 54+DIO: 109−DPO: 68
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM1.6%
Div Yield1.3%
+Buyback (TTM)0.2%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)1.3%
FCF Payout Ratio37.1%
Free Cash Flow (TTM)$2.7B
Stock Repurchases (TTM)$163.0M
Capital Return / FCF43.1%
Est. Dividends Paid (TTM)$999.0M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
9.5%
Stable
+0.1% YoY+8.2%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
12.4%
8Q: 9.6%
Asset Turnover
0.54x
8Q: 0.50x
Leverage (1+D/E)
1.71x
D/E: 0.71x
DuPont: 11.5% ≈ 9.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
1.12x
8Q:1.03x
+32.8%
Invested Cap Turn
0.77x
8Q:0.69x
+22.0%
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $15.6B | $4.2B↑2.8% | $4.1B↑6.2% | $3.9B↑11.9% | $3.5B↓1.4% | $3.5B↑3.2% | $3.4B↑4.3% | $3.3B↑9.3% | $3.0B |
Operating Income | $2.3B | $672.0M↑14.1% | $589.0M↑2.8% | $573.0M↑28.8% | $445.0M↑13.2% | $393.0M↑30.1% | $302.0M↑62.4% | $186.0M↓26.8% | $254.0M |
Net Income | $1.6B | $540.0M↑25.6% | $430.0M↓8.3% | $469.0M↑198.7% | $157.0M↓49.4% | $310.0M↑365.0% | $-117.0M↓212.5% | $104.0M↓50.2% | $209.0M |
Operating Cash Flow | $2.7B | $1.1B↑34.2% | $784.0M↑10.7% | $708.0M↑368.9% | $151.0M↓75.8% | $623.0M↓10.9% | $699.0M↑34.2% | $521.0M↑442.7% | $96.0M |
Free Cash Flow | $2.7B | $1.1B↑34.2% | $784.0M↑10.7% | $708.0M↑368.9% | $151.0M↓75.8% | $623.0M↓10.9% | $699.0M↑34.2% | $521.0M↑442.7% | $96.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
47.1x
Volatile
8Q: 135.5x+5235%
Valuation Lenses
Earnings
47.1x
vs – sector
Cash Flow
30.1x
EV/FCF vs –
Growth-Adj
0.2xPEG
Undervalued for growth
Quality-Adj
4.9P/E per %ROIC
ROIC: 9.5%
Shareholder Returns
Dividend
1.3%
Buyback
0.2%
Total Yield
1.6%
Market Cap$74.89B
EV$81.05B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
79/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
14.3%
8Q:–
Return on Invested Capital (ROIC)Top 25%
9.5%
8Q:–
+8.2%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 12.4%
Asset Turnover: 0.54x
Earnings Quality
Cash Conversion
1.69x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin36.0%
Capital Efficiency
Invested Capital Turnover0.77x
Working Capital
Cash Conversion Cycle96 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
70/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
19.1%
OpInc Growth YoY
71.0%
EPS Growth YoY
222.8%
FCF 3Y CAGR
1.0%
Growth Quality Analysis
⚠Working Capital Drag: FCF growth lagging revenue by 18.1%
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
36.0%
Operating
14.6%
Above Avg in sector
Net
10.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+7.0 pts
FCF: 17.2% | Net: 10.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $6.87B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.71x
Balance sheet risk & solvency analysis