CORNING INC (GLW) Stock Fundamental Analysis
USA - NYSE:GLW - US2193501051 - Common Stock
85.48 USD
-2.38 (-2.71%)
85.7 USD
+0.22 (+0.26%)
Overall GLW gets a fundamental rating of 5 out of 10. We evaluated GLW against 124 industry peers in the Electronic Equipment, Instruments & Components industry. There are concerns on the financial health of GLW while its profitability can be described as average. GLW is valued quite expensively, but it does show have an excellent growth rating.
1. Profitability
1.1 Basic Checks
GLW had positive earnings in the past year.
In the past year GLW had a positive cash flow from operations.
GLW had positive earnings in each of the past 5 years.
GLW had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
GLW's Return On Assets of 4.57% is fine compared to the rest of the industry. GLW outperforms 67.74% of its industry peers.
GLW has a better Return On Equity (11.84%) than 79.84% of its industry peers.
Looking at the Return On Invested Capital, with a value of 6.25%, GLW is in the better half of the industry, outperforming 64.52% of the companies in the same industry.
GLW had an Average Return On Invested Capital over the past 3 years of 3.70%. This is significantly below the industry average of 9.51%.
The last Return On Invested Capital (6.25%) for GLW is above the 3 year average (3.70%), which is a sign of increasing profitability.
| 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
GLW has a better Profit Margin (9.16%) than 77.42% of its industry peers.
GLW's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 13.41%, GLW belongs to the top of the industry, outperforming 82.26% of the companies in the same industry.
GLW's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 35.69%, GLW is in line with its industry, outperforming 58.87% of the companies in the same industry.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GLW is destroying value.
The number of shares outstanding for GLW has been reduced compared to 1 year ago.
GLW has more shares outstanding than it did 5 years ago.
The debt/assets ratio for GLW has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 4.06 indicates that GLW is not in any danger for bankruptcy at the moment.
GLW has a Altman-Z score of 4.06. This is in the better half of the industry: GLW outperforms 61.29% of its industry peers.
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 has a Debt to FCF ratio (7.07) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.64 indicates that GLW is somewhat dependend on debt financing.
GLW has a Debt to Equity ratio of 0.64. This is in the lower half of the industry: GLW underperforms 78.23% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.07 | ||
| Altman-Z | 4.06 |
ROIC/WACC0.7
WACC8.97%
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 72.58% of its industry peers.
A Quick Ratio of 1.00 indicates that GLW may have some problems paying its short term obligations.
With a Quick ratio value of 1.00, GLW is not doing good in the industry: 77.42% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.56 | ||
| Quick Ratio | 1 |
3. Growth
3.1 Past
GLW shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 33.71%, which is quite impressive.
The Earnings Per Share has been growing slightly by 2.29% on average over the past years.
Looking at the last year, GLW shows a quite strong growth in Revenue. The Revenue has grown by 18.27% in the last year.
GLW shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.66% yearly.
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
GLW is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.01% yearly.
GLW is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.65% yearly.
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
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 35.92 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.
Compared to an average S&P500 Price/Earnings ratio of 25.83, GLW is valued a bit more expensive.
Based on the Price/Forward Earnings ratio of 27.77, the valuation of GLW can be described as expensive.
GLW's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 32.68. GLW is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.92 | ||
| Fwd PE | 27.77 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as GLW.
GLW's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 63.02 | ||
| EV/EBITDA | 24.57 |
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.
A more expensive valuation may be justified as GLW's earnings are expected to grow with 22.85% in the coming years.
PEG (NY)1.2
PEG (5Y)15.67
EPS Next 2Y25.33%
EPS Next 3Y22.85%
5. Dividend
5.1 Amount
GLW has a Yearly Dividend Yield of 1.29%. Purely for dividend investing, there may be better candidates out there.
GLW's Dividend Yield is rather good when compared to the industry average which is at 2.07. GLW pays more dividend than 89.52% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.39, GLW's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.29% |
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%
85.48
-2.38 (-2.71%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners74.27%
Inst Owner Change0.02%
Ins Owners0.18%
Ins Owner Change-0.55%
Market Cap73.22B
Revenue(TTM)14.91B
Net Income(TTM)1.37B
Analysts82.11
Price Target79.83 (-6.61%)
Short Float %1.61%
Short Ratio1.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.29% |
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)11.77%
PT rev (3m)40.29%
EPS NQ rev (1m)0.3%
EPS NQ rev (3m)2.41%
EPS NY rev (1m)0.21%
EPS NY rev (3m)5.05%
Revenue NQ rev (1m)0.05%
Revenue NQ rev (3m)1.21%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.81%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.92 | ||
| Fwd PE | 27.77 | ||
| P/S | 4.91 | ||
| P/FCF | 63.02 | ||
| P/OCF | 32.31 | ||
| P/B | 6.35 | ||
| P/tB | 8.76 | ||
| EV/EBITDA | 24.57 |
EPS(TTM)2.38
EY2.78%
EPS(NY)3.08
Fwd EY3.6%
FCF(TTM)1.36
FCFY1.59%
OCF(TTM)2.65
OCFY3.09%
SpS17.41
BVpS13.47
TBVpS9.76
PEG (NY)1.2
PEG (5Y)15.67
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 | 4.06 |
F-Score8
WACC8.97%
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 3 / 10 to CORNING INC (GLW). This can be considered as Overvalued.
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 35.92 and the Price/Book (PB) ratio is 6.35.
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%.