CORNING INC (GLW) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:GLW - US2193501051 - Common Stock
79.46 USD
+1.43 (+1.83%)
79.99 USD
+0.53 (+0.67%)
Overall GLW gets a fundamental rating of 5 out of 10. We evaluated GLW against 123 industry peers in the Electronic Equipment, Instruments & Components industry. GLW has a medium profitability rating, but doesn't score so well on its financial health evaluation. GLW is not priced too expensively while it is growing strongly. Keep and eye on this one!
1. Profitability
1.1 Basic Checks
GLW had positive earnings in the past year.
GLW had a positive operating cash flow in the past year.
In the past 5 years GLW has always been profitable.
Each year in the past 5 years GLW had a positive operating cash flow.
1.2 Ratios
GLW has a better Return On Assets (4.57%) than 69.11% of its industry peers.
With a decent Return On Equity value of 11.84%, GLW is doing good in the industry, outperforming 79.67% of the companies in the same industry.
GLW has a better Return On Invested Capital (6.25%) than 64.23% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GLW is significantly below the industry average of 9.10%.
The 3 year average ROIC (3.70%) for GLW is below the current ROIC(6.25%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.57% | ||
| ROE | 11.84% | ||
| ROIC | 6.25% |
ROA(3y)2.77%
ROA(5y)2.65%
ROE(3y)6.91%
ROE(5y)6.52%
ROIC(3y)3.7%
ROIC(5y)3.77%
1.3 Margins
With a decent Profit Margin value of 9.16%, GLW is doing good in the industry, outperforming 77.24% of the companies in the same industry.
In the last couple of years the Profit Margin of GLW has declined.
With an excellent Operating Margin value of 13.41%, GLW belongs to the best of the industry, outperforming 82.11% of the companies in the same industry.
In the last couple of years the Operating Margin of GLW has declined.
GLW's Gross Margin of 35.69% is in line compared to the rest of the industry. GLW outperforms 56.91% of its industry peers.
GLW's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.41% | ||
| PM (TTM) | 9.16% | ||
| GM | 35.69% |
OM growth 3Y-16.75%
OM growth 5Y-5.29%
PM growth 3Y-20.45%
PM growth 5Y-12.44%
GM growth 3Y-3.21%
GM growth 5Y-1.46%
2. Health
2.1 Basic Checks
GLW has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for GLW has been reduced compared to 1 year ago.
Compared to 5 years ago, GLW has more shares outstanding
The debt/assets ratio for GLW has been reduced compared to a year ago.
2.2 Solvency
GLW has an Altman-Z score of 3.79. This indicates that GLW is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.79, GLW is in the better half of the industry, outperforming 62.60% of the companies in the same industry.
GLW has a debt to FCF ratio of 7.07. This is a slightly negative value and a sign of low solvency as GLW would need 7.07 years to pay back of all of its debts.
GLW's Debt to FCF ratio of 7.07 is in line compared to the rest of the industry. GLW outperforms 56.10% of its industry peers.
GLW has a Debt/Equity ratio of 0.64. This is a neutral value indicating GLW is somewhat dependend on debt financing.
GLW has a worse Debt to Equity ratio (0.64) than 78.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.07 | ||
| Altman-Z | 3.79 |
ROIC/WACC0.7
WACC8.88%
2.3 Liquidity
A Current Ratio of 1.56 indicates that GLW should not have too much problems paying its short term obligations.
GLW's Current ratio of 1.56 is on the low side compared to the rest of the industry. GLW is outperformed by 73.17% of its industry peers.
A Quick Ratio of 1.00 indicates that GLW may have some problems paying its short term obligations.
GLW has a worse Quick ratio (1.00) than 78.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.56 | ||
| Quick Ratio | 1 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 33.71% over the past year.
Measured over the past 5 years, GLW shows a small growth in Earnings Per Share. The EPS has been growing by 2.29% on average per year.
GLW shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 18.27%.
Measured over the past years, GLW shows a small growth in Revenue. The Revenue has been growing by 2.66% on average per year.
EPS 1Y (TTM)33.71%
EPS 3Y-1.96%
EPS 5Y2.29%
EPS Q2Q%24.07%
Revenue 1Y (TTM)18.27%
Revenue growth 3Y-2.34%
Revenue growth 5Y2.66%
Sales Q2Q%14.44%
3.2 Future
Based on estimates for the next years, GLW will show a very strong growth in Earnings Per Share. The EPS will grow by 20.01% on average per year.
The Revenue is expected to grow by 11.65% on average over the next years. This is quite good.
EPS Next Y29.85%
EPS Next 2Y25.33%
EPS Next 3Y22.85%
EPS Next 5Y20.01%
Revenue Next Year13.89%
Revenue Next 2Y12.64%
Revenue Next 3Y11.65%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 33.39 indicates a quite expensive valuation of GLW.
Compared to the rest of the industry, the Price/Earnings ratio of GLW is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 25.45. GLW is valued slightly more expensive when compared to this.
GLW is valuated quite expensively with a Price/Forward Earnings ratio of 25.81.
GLW's Price/Forward Earnings ratio is in line with the industry average.
When comparing the Price/Forward Earnings ratio of GLW to the average of the S&P500 Index (34.46), we can say GLW is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.39 | ||
| Fwd PE | 25.81 |
4.2 Price Multiples
GLW's Enterprise Value to EBITDA is on the same level as the industry average.
GLW's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 58.58 | ||
| EV/EBITDA | 22.04 |
4.3 Compensation for Growth
GLW's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
GLW has a very decent profitability rating, which may justify a higher PE ratio.
GLW's earnings are expected to grow with 22.85% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.12
PEG (5Y)14.56
EPS Next 2Y25.33%
EPS Next 3Y22.85%
5. Dividend
5.1 Amount
GLW has a Yearly Dividend Yield of 1.44%.
GLW's Dividend Yield is rather good when compared to the industry average which is at 2.35. GLW pays more dividend than 90.24% of the companies in the same industry.
With a Dividend Yield of 1.44, GLW pays less dividend than the S&P500 average, which is at 2.45.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.44% |
5.2 History
The dividend of GLW has a limited annual growth rate of 4.75%.
GLW has been paying a dividend for at least 10 years, so it has a reliable track record.
GLW has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)4.75%
Div Incr Years0
Div Non Decr Years17
5.3 Sustainability
GLW pays out 72.69% of its income as dividend. This is not a sustainable payout ratio.
The dividend of GLW is growing, but earnings are growing more, so the dividend growth is sustainable.
DP72.69%
EPS Next 2Y25.33%
EPS Next 3Y22.85%
79.46
+1.43 (+1.83%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners74.27%
Inst Owner Change1.91%
Ins Owners0.18%
Ins Owner Change-21.63%
Market Cap68.07B
Revenue(TTM)14.91B
Net Income(TTM)1.37B
Analysts82.11
Price Target95.35 (20%)
Short Float %1.79%
Short Ratio1.73
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.44% |
Yearly Dividend1.21
Dividend Growth(5Y)4.75%
DP72.69%
Div Incr Years0
Div Non Decr Years17
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.14%
Min EPS beat(2)-0.04%
Max EPS beat(2)4.32%
EPS beat(4)3
Avg EPS beat(4)2.72%
Min EPS beat(4)-0.04%
Max EPS beat(4)5.64%
EPS beat(8)6
Avg EPS beat(8)2.26%
EPS beat(12)8
Avg EPS beat(12)1.72%
EPS beat(16)10
Avg EPS beat(16)1.88%
Revenue beat(2)2
Avg Revenue beat(2)1.97%
Min Revenue beat(2)0.07%
Max Revenue beat(2)3.88%
Revenue beat(4)3
Avg Revenue beat(4)1.46%
Min Revenue beat(4)-0.03%
Max Revenue beat(4)3.88%
Revenue beat(8)5
Avg Revenue beat(8)1.13%
Revenue beat(12)5
Avg Revenue beat(12)-0.42%
Revenue beat(16)7
Avg Revenue beat(16)-0.75%
PT rev (1m)3.87%
PT rev (3m)17.8%
EPS NQ rev (1m)4.25%
EPS NQ rev (3m)5.05%
EPS NY rev (1m)1.59%
EPS NY rev (3m)6.5%
Revenue NQ rev (1m)2.02%
Revenue NQ rev (3m)2.76%
Revenue NY rev (1m)0.87%
Revenue NY rev (3m)4.71%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.39 | ||
| Fwd PE | 25.81 | ||
| P/S | 4.56 | ||
| P/FCF | 58.58 | ||
| P/OCF | 30.04 | ||
| P/B | 5.9 | ||
| P/tB | 8.14 | ||
| EV/EBITDA | 22.04 |
EPS(TTM)2.38
EY3%
EPS(NY)3.08
Fwd EY3.87%
FCF(TTM)1.36
FCFY1.71%
OCF(TTM)2.65
OCFY3.33%
SpS17.41
BVpS13.47
TBVpS9.76
PEG (NY)1.12
PEG (5Y)14.56
Graham Number26.85
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.57% | ||
| ROE | 11.84% | ||
| ROCE | 8.22% | ||
| ROIC | 6.25% | ||
| ROICexc | 6.71% | ||
| ROICexgc | 7.8% | ||
| OM | 13.41% | ||
| PM (TTM) | 9.16% | ||
| GM | 35.69% | ||
| FCFM | 7.79% |
ROA(3y)2.77%
ROA(5y)2.65%
ROE(3y)6.91%
ROE(5y)6.52%
ROIC(3y)3.7%
ROIC(5y)3.77%
ROICexc(3y)3.99%
ROICexc(5y)4.1%
ROICexgc(3y)4.68%
ROICexgc(5y)4.83%
ROCE(3y)4.86%
ROCE(5y)4.96%
ROICexgc growth 3Y-16.21%
ROICexgc growth 5Y-0.8%
ROICexc growth 3Y-16.02%
ROICexc growth 5Y-1.08%
OM growth 3Y-16.75%
OM growth 5Y-5.29%
PM growth 3Y-20.45%
PM growth 5Y-12.44%
GM growth 3Y-3.21%
GM growth 5Y-1.46%
F-Score8
Asset Turnover0.5
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.07 | ||
| Debt/EBITDA | 2.22 | ||
| Cap/Depr | 82.95% | ||
| Cap/Sales | 7.4% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 68.03% | ||
| Profit Quality | 85.07% | ||
| Current Ratio | 1.56 | ||
| Quick Ratio | 1 | ||
| Altman-Z | 3.79 |
F-Score8
WACC8.88%
ROIC/WACC0.7
Cap/Depr(3y)94.49%
Cap/Depr(5y)96.92%
Cap/Sales(3y)9.9%
Cap/Sales(5y)10.7%
Profit Quality(3y)125.06%
Profit Quality(5y)146.73%
High Growth Momentum
Growth
EPS 1Y (TTM)33.71%
EPS 3Y-1.96%
EPS 5Y2.29%
EPS Q2Q%24.07%
EPS Next Y29.85%
EPS Next 2Y25.33%
EPS Next 3Y22.85%
EPS Next 5Y20.01%
Revenue 1Y (TTM)18.27%
Revenue growth 3Y-2.34%
Revenue growth 5Y2.66%
Sales Q2Q%14.44%
Revenue Next Year13.89%
Revenue Next 2Y12.64%
Revenue Next 3Y11.65%
Revenue Next 5YN/A
EBIT growth 1Y143.9%
EBIT growth 3Y-18.7%
EBIT growth 5Y-2.77%
EBIT Next Year88.17%
EBIT Next 3Y32%
EBIT Next 5Y27.56%
FCF growth 1Y194.18%
FCF growth 3Y-18.13%
FCF growth 5Y85.79%
OCF growth 1Y18.7%
OCF growth 3Y-17.17%
OCF growth 5Y-0.92%
CORNING INC / GLW FAQ
What is the ChartMill fundamental rating of CORNING INC (GLW) stock?
ChartMill assigns a fundamental rating of 5 / 10 to GLW.
Can you provide the valuation status for CORNING INC?
ChartMill assigns a valuation rating of 4 / 10 to CORNING INC (GLW). This can be considered as Fairly Valued.
How profitable is CORNING INC (GLW) stock?
CORNING INC (GLW) has a profitability rating of 6 / 10.
Can you provide the PE and PB ratios for GLW stock?
The Price/Earnings (PE) ratio for CORNING INC (GLW) is 33.39 and the Price/Book (PB) ratio is 5.9.
Is the dividend of CORNING INC sustainable?
The dividend rating of CORNING INC (GLW) is 6 / 10 and the dividend payout ratio is 72.69%.