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Corning Inc. (GLW) stock

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NYSE: GLW NYSE Electronic Components Next results ~January 26, 2027

C+ Fundamentals grade

Corning Inc. is a US-listed company in the electronic components industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$67

Cash-flow model

Base case. Range ~$49–$90 across our lower- and higher-growth cases (9.8%–19.8% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 46% below it.

Price used: $123.20, November 2, 2026

Corning Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Corning files

10-Q filed October 29: Corning

Model value +10.3%

Corning's revenue reached $17.7bn in the twelve months to September 2026, an 18.8% increase on the prior year, though this marks a deceleration from 19.4% growth the previous quarter. Profitability has improved markedly: free-cash-flow margin climbed to 13.9% from 7.8%, while operating margin widened to 16.5% from 13.4%. These gains lift our model value from $60.83 to $67.12 a share. Against a share price of $123, however, the stock still looks expensive, and we maintain our Sell rating. At that price, the market appears to be pricing in cash-flow growth of roughly 26.6% a year over five years, well ahead of the 4.7% annual revenue growth Corning has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 29: Corning

Corning generated $17.7bn in revenue over the twelve months to June 2026, up 18.8% on a year earlier but a touch slower than the 19.4% pace recorded a quarter before. Margins improved on both counts: free cash flow climbed to 13.9% from 7.8%, while operating margin widened to 16.5% from 13.4%. These gains lift the fundamentals grade from C to C+ and nudge our model value up from $59.99 to $60.83 a share. Against a share price of $131, that leaves the stock firmly in Sell territory. At current levels, the market appears to be pricing in cash-flow growth of roughly 28.7% a year for the next five years, well above the 4.7% annual revenue growth Corning has actually delivered.

10-Q on SEC EDGAR

Where Corning stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $17.0bn, up 19.4% on a year earlier, slower than 20.1% a quarter earlier. That growth ranks 185 of 931 among all the companies we cover. Free-cash-flow margin rose to 14.1% from 8.4% a year earlier. Operating margin widened to 15.3% from 12.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks. Our cash-flow model value is $51.19 a share, against a share price of $133.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Corning Inc.'s trailing-twelve-month revenue grew 18.8% year on year, with a free-cash-flow margin of 13.9%. Where it lags: change in growth rate of -0.6pp ranks 23 of 26 electronic components companies we cover.

Our discounted-cash-flow model values the business at ~$67 per share in the base case (~$49–$90 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 111.8% while net income grew 57.4%: a 54pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 18.8% over the last 12 months, against a median of 16.1% for electronic components companies we cover.
  • Margins widening. Operating margin is up 3.1 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $123.20 is 46% above our value per share of $67.
  • High earnings multiple. The shares trade at 50 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 74% and a beta of 3.0 against the S&P 500.
  • Insiders selling. 15 insiders sold $98M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Below peers: change in growth rate. Change in growth rate of -0.6pp ranks 23 of 26 electronic components companies we cover (median +3.5pp).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.91 against an average estimate of $0.88: beat by 3.4%
Revenue
$4.86bn, up 18.4% on a year earlier
Share reaction
+2.7% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Guidance given
core Sales $5.2bn to $5.3bn (fourth quarter); core EPS $0.96 to $1 (fourth quarter)
Next report
January 26, 2027; average EPS estimate $0.96

Corning's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.1%
  • 1 week-3.6%
  • 1 month-25.0%
  • This year+41.4%
  • 1 year+39.5%
  • 5 years+276.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$17.7B
Operating margin
16.5%
Net margin
12.1%
EPS (TTM, diluted)
$2.46

Growth

Revenue growth
+18.8%
Change in growth rate
−0.6 pts
Share count change
+0.2%

Cash

Free cash flow (TTM)
$2.5B
FCF margin
13.9%
Stock pay % of revenue
2.1%

Earnings

Last results
October 27, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Guidance
  4. Our research
  5. Dividend
  6. Announcement
  7. Announcement
  8. Insider trade
  9. Insider trade
  10. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Corning Inc. valuation models and calculator

What the price is pricing in

The share price implies about 27.4% a year of cash-flow growth for five years.That is faster than the 4.7% a year revenue growth Corning has delivered.

  • Priced in27.4%
  • Last 12 months18.8%
  • 3 years a year10.9%
  • 5 years a year4.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($128.97, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$67
Price used
$128.97close November 3, 2026
Implied change
▼ 48%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Corning Inc.'s free cash flow after stock-based pay with after-tax interest added back ($1.8B, FY2026 Q3 TTM), growing 18.9% and 16.9% in the next two years (forecasts, guidance and its record), then back to 14.8% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$49–~$90 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Corning Inc.'s free cash flow after stock-based pay ( $1.8B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Corning Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.39 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$67 ~$49–$90 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$79 ~$64–$120 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$15 ~$12–$19 Left out: out of range vs price (0.12x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$15 ~$13–$17 Left out: out of range vs price (0.12x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$71 ~$67–$79 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Corning Inc. with Electronic Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▲ +72%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $22$32$46$65$89$120
8.5% $15$22$32$46$63$85
10% $10$16$24$34$47$64

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$13.93$18.98$25.56$24.72$24.47$31.21$33.06$29.24$28.88$46.39$87.10$123.20
Market value$18.7bn$21.7bn$22.9bn$23.3bn$22.0bn$24.1bn$27.9bn$25.1bn$24.8bn$40.3bn$75.9bn$107.9bn
+ Net debt (− = net cash)−$38m−$1.4bn$811m$3.6bn$5.3bn$5.3bn$4.9bn$5.2bn$5.7bn$5.4bn$6.9bn$5.7bn
Enterprise value$18.7bn$20.3bn$23.7bn$26.9bn$27.3bn$29.4bn$32.8bn$30.3bn$30.6bn$45.8bn$82.8bn$113.5bn
Multiples
Price / sales 2.1x2.3x2.3x2.1x1.9x2.1x2.0x1.8x2.0x3.1x4.9x6.1x
Price / earnings 14.0x5.9x—21.8x22.9x47.1x14.6x19.0x42.7x79.7x47.5x50.2x
Price / free cash flow ———34.4xn/m30.0x15.7x24.8x40.3x41.4x53.7x43.8x
EV / EBITDA 7.6x8.0x8.8x9.7x10.1x15.4x9.5x10.9x14.3x19.4x23.5x26.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard Corning's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 9.3% of total assets over 10 years.

  • Pricing power 11 / 20

    Gross margin has been a median 36.0%, moving by 3.5 percentage points (standard deviation) across 10 years.

  • Durability 5 / 20

    Operating margin has been a median 13.5%; its worst year was 1.7%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 7 of 7 years, at a median 8.3% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 6.5% over five years; stock-based pay has been a median 1.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (56 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 26, 2027, before the open. Analysts expect revenue of $5.3bn and EPS of $0.96 (range $0.90 to $0.99) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.34 +32% $19.4bn +18%
Next $4.45 +33% $23.4bn +21%

Next year's EPS estimate has moved +3.4% in 90 days, across 18 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.1% on 90 days ago. In the last 30 days, 5 analysts raised Corning Inc.'s forecast and 0 cut it.

Consensus EPS forecast Corning Inc., last 90 days
$3.00 $3.50 $4.00 $4.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.27 Current fiscal year, 60 days ago: $3.27 Current fiscal year, 30 days ago: $3.28 Current fiscal year, 7 days ago: $3.29 Current fiscal year, Now: $3.34 $3.34 Next fiscal year, 90 days ago: $4.30 Next fiscal year, 60 days ago: $4.32 Next fiscal year, 30 days ago: $4.36 Next fiscal year, 7 days ago: $4.37 Next fiscal year, Now: $4.45 $4.45

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.27$4.30
60 days ago $3.27$4.32
30 days ago $3.28$4.36
7 days ago $3.29$4.37
Now $3.34$4.45

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.88 $0.91 +3.4%
Jun 2026 $0.75 $0.78 +3.5%
Mar 2026 $0.69 $0.70 +1.2%
Dec 2025 $0.71 $0.72 +2.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 27, 2026
  • Core Sales fourth quarter $5.2bn to $5.3bn Non-GAAP
    “In the fourth quarter, management expects to grow core sales approximately 19% year over year to a range of $5.2 billion to $5.3 billion and grow core EPS approximately 36% year over year to a range of $0.96 to $1.00.” source
  • Core EPS fourth quarter $0.96 to $1.00 Non-GAAP
    “In the fourth quarter, management expects to grow core sales approximately 19% year over year to a range of $5.2 billion to $5.3 billion and grow core EPS approximately 36% year over year to a range of $0.96 to $1.00.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Corning Inc.'s revenue by +18.9% next year and +16.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+20.8%, weight 68%) and the company's own record (+14.8%, weight 32%) . How the weights are set.

Analyst recommendations

18 analysts, Oct 2026
Buy1478%
Hold422%
Sell00%

Monthly trend

  1. Oct 202613418
  2. Sep 202613518
  3. Aug 202612416
  4. Jul 202611516

Counts of recommendations published by analysts covering Corning Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.1%
of tradable shares
Days to cover
2.04
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
75%
of shares
Held by insiders
8.1%
of shares
Employees
67,200
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +39.5%

$88.31 on October 31, 2025 to $123.20

ThenNowEffect
Revenue (last 12 months) $14.2bn $17.0bn +19.4%
Net margin 5.8% 11.2% +94.3%
P/E multiple 93.8x 56.7x −39.6%
Share count 870m 875m −0.5%

Biggest factor: net margin.

Last 3 years +369.7%

$26.23 on November 3, 2023 to $123.20

ThenNowEffect
Revenue (last 12 months) $13.3bn $17.0bn +27.4%
Net margin 4.7% 11.2% +137.1%
P/E multiple 35.8x 56.7x +58.6%
Share count 858m 875m −1.9%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
GLW+6%−12%−1%+61%+88%+41%
Industry peers (median)+21%−14%+11%+7%+4%+19%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
GLW50%42%42%92%67%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
GLW−23%−31%−26%−18%−28%−52%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 52% from June 29, 2026 to November 2, 2026. Getting back needed a 107% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$77.62 – $255.21
From 52-week high
−51.7%
vs 50-day average
−16.4%
vs 200-day average
−20.7%
Volatility (1 year)
74%
Beta vs S&P 500
3.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±6.6%
After a week
7 up, 4 down
typical move ±6.8%
After a month
7 up, 4 down
typical move ±10.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 +2.7% +0.9% — —
July 28, 2026 −13.5% −1.3% +11.5% +6.6%
April 28, 2026 −9.6% −0.5% −3.5% +8.9%
January 28, 2026 −6.1% −0.2% 0.0% +37.3%
October 28, 2025 +1.0% +0.3% −4.7% −6.1%
July 29, 2025 +13.0% −0.4% +14.0% +21.4%
April 29, 2025 +0.6% +0.7% +1.5% +13.3%
January 29, 2025 −2.4% +0.1% +4.0% −1.5%
October 29, 2024 +2.6% −0.1% +0.9% +3.6%
July 30, 2024 −6.3% +1.1% −10.2% −0.8%
July 8, 2024 +16.2% +0.2% +19.0% −0.3%
April 30, 2024 +5.3% −1.9% +5.2% +16.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Corning Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look cheap

Option prices imply less movement than the shares have recently shown. Selling options pays little for the risk taken.

  • Implied is 0.95× the last 60 days’ realised volatility , richer than 15% of the 229 stocks we screen today.
  • Puts are priced 4 points richer than calls (25-delta): the market is paying up for downside protection, which favours selling puts over calls.
  • Why: implied is below 60-day realised: selling options pays little for the risk taken.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

GLW Corning Inc. Grade C+ $123.17

Own 100 shares, sell the $135 call expiring December 4, 2026 (32 days) for $4.10 a share — $410 per contract.

Previous session · Bid $4.10, ask $5.00, quoted Mon 2 Nov, 17:24 New York time with GLW at $123.17. Option prices move with the shares: check the live chain at your broker before trading.

  • If GLW ends below $135: you keep your shares and the $410 — 3.3% extra on the position, 38.0% a year at that pace.
  • If it ends above $135: your shares are sold at $135, a total return of 12.9% including the premium — at or above our value of ~$67.
$1.6k $0 −$2.4k Break-even $119.07 Price $123.17 ← Our value ~$67
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$410
Annualised
38.0%
Break-even
$119.07
Max gain
$1,593
Chance of selling
~34%

Collar

Own the shares, buy the $110 put and sell the $135 call, both expiring December 4, 2026 (32 days).

  • Net cost of $0.20 a share ($20.00 per contract of 100 shares).
  • Worst case at expiry: -10.9%, if the shares fall below $110 (-10.7% from today).
  • Best case at expiry: +9.4%, if the shares rise above $135 (+9.6%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $67.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Corning Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Corning Inc.
$12B $14B $16B $18B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $12.6B Revenue (TTM), FY24 Q1: $12.4B Revenue (TTM), FY24 Q2: $12.4B Revenue (TTM), FY24 Q3: $12.6B Revenue (TTM), FY24 Q4: $13.1B Revenue (TTM), FY25 Q1: $13.6B Revenue (TTM), FY25 Q2: $14.2B Revenue (TTM), FY25 Q3: $14.9B Revenue (TTM), FY25 Q4: $15.6B Revenue (TTM), FY26 Q1: $16.3B Revenue (TTM), FY26 Q2: $17B Revenue (TTM), FY26 Q3: $17.7B $17.7B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $12.6B
FY24 Q1 $12.4B
FY24 Q2 $12.4B
FY24 Q3 $12.6B
FY24 Q4 $13.1B
FY25 Q1 $13.6B
FY25 Q2 $14.2B
FY25 Q3 $14.9B
FY25 Q4 $15.6B
FY26 Q1 $16.3B
FY26 Q2 $17B
FY26 Q3 $17.7B
Revenue growth, TTM YoY Corning Inc.
-20% -10% 0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -11.3% Revenue growth, TTM YoY, FY24 Q1: -9.5% Revenue growth, TTM YoY, FY24 Q2: -6.9% Revenue growth, TTM YoY, FY24 Q3: -3.0% Revenue growth, TTM YoY, FY24 Q4: 4.2% Revenue growth, TTM YoY, FY25 Q1: 9.8% Revenue growth, TTM YoY, FY25 Q2: 14.6% Revenue growth, TTM YoY, FY25 Q3: 18.3% Revenue growth, TTM YoY, FY25 Q4: 19.1% Revenue growth, TTM YoY, FY26 Q1: 20.1% Revenue growth, TTM YoY, FY26 Q2: 19.4% Revenue growth, TTM YoY, FY26 Q3: 18.8% 18.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -11.3%
FY24 Q1 -9.5%
FY24 Q2 -6.9%
FY24 Q3 -3.0%
FY24 Q4 4.2%
FY25 Q1 9.8%
FY25 Q2 14.6%
FY25 Q3 18.3%
FY25 Q4 19.1%
FY26 Q1 20.1%
FY26 Q2 19.4%
FY26 Q3 18.8%
Operating margin (TTM) Corning Inc.
5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 7.1% Operating margin (TTM), FY24 Q1: 6.8% Operating margin (TTM), FY24 Q2: 6.1% Operating margin (TTM), FY24 Q3: 6.5% Operating margin (TTM), FY24 Q4: 8.7% Operating margin (TTM), FY25 Q1: 9.8% Operating margin (TTM), FY25 Q2: 12.1% Operating margin (TTM), FY25 Q3: 13.4% Operating margin (TTM), FY25 Q4: 14.6% Operating margin (TTM), FY26 Q1: 15.2% Operating margin (TTM), FY26 Q2: 15.3% Operating margin (TTM), FY26 Q3: 16.5% 16.5%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 7.1%
FY24 Q1 6.8%
FY24 Q2 6.1%
FY24 Q3 6.5%
FY24 Q4 8.7%
FY25 Q1 9.8%
FY25 Q2 12.1%
FY25 Q3 13.4%
FY25 Q4 14.6%
FY26 Q1 15.2%
FY26 Q2 15.3%
FY26 Q3 16.5%
FCF margin (TTM) Corning Inc.
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 4.9% FCF margin (TTM), FY24 Q1: 7.2% FCF margin (TTM), FY24 Q2: 7.6% FCF margin (TTM), FY24 Q3: 8.2% FCF margin (TTM), FY24 Q4: 7.4% FCF margin (TTM), FY25 Q1: 7.9% FCF margin (TTM), FY25 Q2: 8.4% FCF margin (TTM), FY25 Q3: 7.8% FCF margin (TTM), FY25 Q4: 9.0% FCF margin (TTM), FY26 Q1: 9.2% FCF margin (TTM), FY26 Q2: 14.1% FCF margin (TTM), FY26 Q3: 13.9% 13.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 4.9%
FY24 Q1 7.2%
FY24 Q2 7.6%
FY24 Q3 8.2%
FY24 Q4 7.4%
FY25 Q1 7.9%
FY25 Q2 8.4%
FY25 Q3 7.8%
FY25 Q4 9.0%
FY26 Q1 9.2%
FY26 Q2 14.1%
FY26 Q3 13.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Corning took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $15.6B
  2. Cost of revenue $10B · 64.0%
  3. Gross profit $5.6B · 36.0%
  4. Research and development $800M · 5.1%
  5. Selling, general and admin $2.1B · 13.6%
  6. Other operating costs $420M · 2.7%
  7. Operating income $2.3B · 14.6%
  8. Income tax $310M · 2.0%
  9. Interest and other $373M · 2.4%
  10. Net income $1.6B · 10.2%

Shares of revenue. Source: Corning's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 5.4 6.6 7.9 8.0 7.8 9.7 9.1 9.4 10.1 11.3 11.5 11.3 14.1 14.2 12.6 13.1 15.6 17.7
Gross profit 2.1 3.0 3.6 3.3 3.3 4.1 3.7 3.8 4.0 4.5 4.0 3.5 5.1 4.5 3.9 4.3 5.6 6.5
EBITDA 1.2 2.6 2.7 2.2 2.3 3.1 2.5 2.6 2.7 2.8 2.7 1.9 3.5 2.8 2.1 2.4 3.5 4.3
Operating income 0.4 1.8 1.7 1.2 1.4 1.9 1.3 1.4 1.6 1.6 1.3 0.5 2.1 1.4 0.9 1.1 2.3 2.9
Net income 2.0 3.6 2.8 1.6 2.0 2.5 1.3 3.7 −0.5 1.1 1.0 0.5 1.9 1.3 0.6 0.5 1.6 2.2
Diluted EPS $1.28 $2.25 $1.78 $1.09 $1.34 $1.73 $1.00 $3.23 −$0.66 $1.13 $1.07 $0.54 $1.28 $1.54 $0.68 $0.58 $1.83 $2.46
Growth (year on year)
Revenue −9.3% +22.9% +19.0% +1.5% −2.4% +24.2% −6.2% +3.1% +7.7% +11.6% +1.9% −1.7% +24.6% +0.8% −11.3% +4.2% +19.1% +18.8%
EBITDA −46.8% +125.7% +0.3% −18.7% +8.6% +32.3% −20.9% +4.2% +5.3% +3.1% −2.8% −29.2% +81.6% −20.1% −22.8% +10.6% +48.7% +34.2%
Operating income −74.3% +360.6% −4.9% −31.1% +16.3% +40.8% −31.5% +7.7% +12.9% −2.1% −17.1% −61.0% +314.9% −31.9% −38.1% +27.5% +100.8% +46.0%
Net income −61.8% +77.2% −20.8% −41.9% +19.9% +26.1% −45.8% +176.0% −113.5% — −9.9% −46.7% +272.3% −31.0% −55.9% −12.9% +215.4% +57.4%
Diluted EPS −61.4% +75.8% −20.9% −38.8% +22.9% +29.1% −42.2% +223.0% −120.4% — −5.3% −49.5% +137.0% +20.3% −55.8% −14.7% +215.5% +57.1%
Margins
Gross margin 38.8% 46.0% 45.3% 41.4% 42.5% 41.7% 40.1% 40.1% 39.7% 39.5% 35.1% 31.2% 36.0% 31.8% 31.2% 32.6% 36.0% 36.5%
EBITDA margin 21.7% 39.9% 33.6% 26.9% 30.0% 31.9% 26.9% 27.2% 26.6% 24.6% 23.4% 16.9% 24.6% 19.5% 17.0% 18.0% 22.5% 24.4%
Operating margin 7.2% 27.2% 21.7% 14.7% 17.5% 19.9% 14.5% 15.2% 15.9% 14.0% 11.4% 4.5% 15.0% 10.1% 7.1% 8.7% 14.6% 16.5%
Net margin 37.2% 53.6% 35.7% 20.4% 25.1% 25.4% 14.7% 39.4% −4.9% 9.4% 8.3% 4.5% 13.5% 9.3% 4.6% 3.9% 10.2% 12.1%
Free-cash-flow margin — — — — — — — — — 6.0% 0.5% 7.1% 12.6% 7.1% 4.9% 7.4% 9.0% 13.9%
Cash flow
Cash from operations 2.1 3.8 3.2 3.2 2.8 4.7 2.8 2.5 2.0 2.9 2.0 2.2 3.4 2.6 2.0 1.9 2.7 4.2
Capital spending — — — — — — — — — 2.2 2.0 1.4 1.6 1.6 1.4 1.0 1.3 1.7
Free cash flow — — — — — — — — — 0.7 0.1 0.8 1.8 1.0 0.6 1.0 1.4 2.5
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.3 0.4
Free cash flow after stock pay — — — — — — — — — 0.6 −0.0 0.6 1.6 0.8 0.4 0.7 1.1 2.1
Balance sheet
Cash 2.5 4.6 4.7 5.0 4.7 5.3 4.5 5.3 4.3 2.4 2.4 2.7 2.1 1.7 1.8 1.8 1.5 2.5
Total debt 2.0 2.3 2.4 3.5 3.3 3.3 4.5 3.9 5.1 6.0 7.7 8.0 7.0 6.9 7.5 7.2 8.4 8.2
Net debt (negative = net cash) −0.5 −2.3 −2.3 −1.5 −1.4 −2.0 −0.0 −1.4 0.8 3.6 5.3 5.3 4.9 5.2 5.7 5.4 6.9 5.7
Diluted shares 1,568m 1,581m 1,583m 1,506m 1,462m 1,427m 1,343m 1,144m 895m 941m 899m 772m 844m 857m 859m 869m 871m 876m
Returned to shareholders
Dividends 0.3 0.3 0.4 0.5 0.6 0.6 0.7 0.6 0.7 0.7 0.7 0.8 0.9 0.9 1.0 1.0 1.0 1.0
Buybacks 0.0 — 0.8 0.7 1.5 2.5 3.2 4.2 2.5 2.2 0.9 0.1 0.3 0.2 — 0.2 0.2 —
Total returned 0.3 0.3 1.1 1.2 2.1 3.1 3.9 4.9 3.1 2.9 1.7 0.9 1.1 1.2 1.0 1.2 1.2 1.0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · September 30, 2026
What it owns · $34.1bn
Short-term assets $11.3bnLonger-term assets $22.8bn
What it owes, and who funded it · $33.5bn
Short-term liabilities $6.6bnLonger-term liabilities $13.3bnShareholders' equity $13.7bn
  • Short-term assets cover short-term liabilities $11.3bn of assets due within a year against $6.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $11.3bn short-term assets against $13.3bn of longer-dated liabilities.
  • More cash than debt $2.5bn of cash against $8.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 60% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 55% to 60% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.2bn of operating cash flow against $8.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $2.9bn against $366m of interest.

From Corning Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$163M
Dividends (TTM)
$1B
Returned to shareholders
82%
of free cash flow
Buybacks, last 3 fiscal years
$549M
Diluted share count
+0.2%
year over year
Total shareholder yield
1.1%
dividends 0.9% + buybacks 0.1% of market value
Dividend payout ratio
47%
of net income paid out
Sales & admin spending
12.8%
of revenue
Days sales outstanding
64 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electronic components
Last 12 months unless stated GLW APH COHR TTMI VSH BDC Median
Revenue, last 12 months $17.7bn $33.0bn $7.1bn $3.8bn $3.3bn $3.1bn $647m
Revenue growth, last 12 months 18.8% 57.6% 22.5% 37.6% 13.4% 17.7% 15.0%
Revenue growth, 3-year average 10.9% 38.4% 11.3% 18.8% −2.2% 6.1% 5.6%
Revenue growth, latest quarter 18.4% 65.1% 33.7% 59.9% 16.6% 38.3% 18.4%
Gross margin 36.5% 38.8% 37.5% 22.2% 20.9% 36.8% 36.5%
Operating margin 16.5% 27.7% 2.0% 11.1% 3.3% 9.0% 8.5%
Operating margin, 3-year average 12.1% 24.1% 4.6% 8.0% 3.4% 10.1% 8.3%
Net margin 12.1% 18.0% 11.3% 7.0% 0.9% 5.6% 5.8%
Cash from operations / revenue 23.7% 19.6% 1.1% 8.8% 10.4% 12.8% 10.4%
Free-cash-flow margin 13.9% 15.5% −14.4% 0.4% −0.2% 7.3% 3.7%
Free-cash-flow margin, 3-year average 10.0% 16.1% −2.3% 0.9% −3.9% 8.1% 8.9%
Stock pay / revenue 2.1% 0.5% 2.7% 1.9% 0.9% 1.2% 1.9%
Change in share count 0.2% −0.1% 26.3% 2.2% 2.4% −2.7% 2.9%

Median of all 26 companies we cover in electronic components. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

26 electronic components companies
Measure Company Peer median Rank
Revenue growth Growth 18.8% 16.1% 10 of 26
Change in growth rate Growth -0.6pp +3.5pp 23 of 26
Gross margin Profitability 36.5% 36.8% 13 of 24
Operating margin Profitability 16.5% 9.0% 6 of 25
Net margin Profitability 12.1% 6.0% 7 of 26
Free-cash-flow margin Cash generation 13.9% 5.6% 7 of 24
Stock pay as % of revenue Cash generation 2.1% 2.1% 13 of 24
Long-term debt as % of assets Balance sheet 21.3% 12.5% 12 of 19
Change in share count Balance sheet 0.2% 3.5% 7 of 22
Days sales outstanding Balance sheet 64 days 69 days 10 of 24

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Optical Communications $6.3B 40.1% ▲ 34.7%
Display Products $3B 19.0% ▲ 8.7%
Specialty Materials Products $2.2B 14.0% ▲ 9.7%
Automotive Products $1.8B 11.4% ▲ 4.3%
Life Science Products $959M 6.1% ▲ 2.8%
Polycrystalline Silicon Products $955M 6.1% ▲ 10.4%
Other $505M 3.2% ▲ 117.7%

From Corning Inc.'s 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$161B
Institutions reporting
2,663
Shares held vs prior quarter
▲ 3.4%
Positions opened / closed
537 / 122

Top buyers and sellers, Q2 2026: 1,432 institutions bought and 1,067 sold ; the biggest buyer was Jpmorgan Chase & Co (+24.1M shares) and the biggest seller Vanguard Portfolio Management LLC (−9.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $16.8B 65.8M 10.5% ▼ 1.4%
Vanguard Capital Management LLC $13B 50.8M 8.1% ▲ 0.7%
State Street Corp $10.5B 41.1M 6.5% ▲ 13.4%
Jpmorgan Chase & Co $9.2B 36.0M 5.7% ▲ 203.4%
Capital Research Global Investors $6.3B 24.7M 3.9% ▲ 13.1%
FMR LLC $6.1B 24.0M 3.8% ▼ 3.5%
Vanguard Portfolio Management LLC $4.8B 18.9M 3.0% ▼ 33.1%
Bank Of America Corp $4.8B 18.7M 3.0% ▲ 29.2%
Geode Capital Management, LLC $4.7B 18.4M 2.9% ▼ 12.4%
Morgan Stanley $3.9B 15.1M 2.4% ▼ 3.4%
State Farm Mutual Automobile Insurance Co $3.4B 13.2M 2.1% ▼ 1.4%
Wellington Management Group LLP $3.4B 13.2M 2.1% ▲ 50.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Corning Inc.'s complete shareholder register. Values are as reported by the filers ; 13 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $98.1M 30 trades by 15 insiders · 0% under pre-set plans
Net ▼ $98.1M net selling
Insider Date Trade Shares Price Value
Gullo Michelle L Senior Vice President & CHRO September 4, 2026 Sell 9,874 $152.29 $1.5M
Steverson Lewis A Vice Chairman, EVP and CLAO August 28, 2026 Sell 13,100 $151.29 $2M
Weeks Wendell P Chairman, CEO and President June 9, 2026 Sell 100,000 $186.46 $18.6M
Amin Jaymin SVP and Chief Tech. Officer May 22, 2026 Sell 27,395 $192.14 $5.3M
Nelson Avery H Iii Executive Vice President & COO May 15, 2026 Sell 20,000 $195.93 $3.9M
Verkleeren Ronald L SVP Emerging Innovations Group May 13, 2026 Sell 10,000 $207.77 $2.1M
Zhang John Z Exec. Vice President & CCDO May 11, 2026 Sell 10,000 $198.34 $2M
Seetharam Soumya Senior Vice President & CDIO May 11, 2026 Sell 20,000 $206.23 $4.1M
Tillman Michaune D SVP and General Counsel May 11, 2026 Sell 3,260 $207.02 $674,870
Becker Stefan SVP, Finance & Corp Controller May 8, 2026 Sell 21,000 $188.08 $3.9M
Gullo Michelle L Senior Vice President & CHRO May 8, 2026 Sell 5,315 $189.03 $1M
Steverson Lewis A Vice Chairman, EVP and CLAO May 8, 2026 Sell 27,750 $196.06 $5.4M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 42 trades and filings

In the last 12 months, 2 members of Congress disclosed 5 purchases and 3 sales of Corning Inc. shares.

  • Maria Elvira Salazar(R-FL 27):Sale (partial), $1,001 - $15,000, traded September 24, 2026, filed October 7, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $1,001 - $15,000, traded September 8, 2026, filed October 7, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $1,001 - $15,000, traded September 8, 2026, filed October 7, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • April 28, 2026
  • January 28, 2026
  • October 28, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Corning Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Corning Inc. in brief

What does Corning Inc. do?
Corning Inc. is a US-listed company in the electronic components industry. Its financial year ends in December.
What is Corning Inc.'s stock ticker?
Corning Inc. trades under the ticker GLW on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Corning Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Corning Inc. reported revenue of $17.7B, 18.8% higher than a year earlier, according to its SEC filings.
What is Corning Inc.'s free cash flow?
Corning Inc.'s free-cash-flow margin is 13.9% of revenue over the trailing twelve months, ranking 7 of the 24 electronic components companies we cover.
What is Corning Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Corning Inc.'s free cash flow after stock-based pay gives ~$67 per share in the base case, and ~$49–$90 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Corning Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Corning Inc. buying back stock, and does it pay a dividend?
Corning Inc. spent $163M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.2% over the year.
What is Corning Inc.'s market cap?
On November 2, 2026, Corning Inc.'s market capitalisation was about $108B, with a price-to-earnings ratio of 50.2 and net debt of $5.7B. Market figures come from third-party market data and may be delayed.
Does Corning Inc. pay a dividend?
Yes: Corning Inc. paid $1B in dividends over the trailing twelve months, a dividend yield of 0.94% and a payout ratio of 47.1%.
How much debt does Corning Inc. have?
Corning Inc.'s debt-to-equity ratio is 60.0%, from its latest balance sheet (55.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Corning Inc.'s competitors?
In our Electronic Components peer group, the companies closest to Corning Inc. are Amphenol, Coherent Corp., TTM Technologies Inc, Vishay Intertechnology Inc and Belden Inc. The side-by-side comparison below sets their revenue, margins and growth against Corning Inc.'s.
Are insiders buying or selling Corning Inc. stock?
Over the last 12 months, Corning Inc.'s directors and officers reported 0 open-market purchases and 30 sales on Form 4. The insider trading page charts every trade.
When is Corning Inc.'s next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Corning Inc. announces its own schedule.