CORNING INC (GLW) Stock Fundamental Analysis
USA - NYSE:GLW - US2193501051 - Common Stock
82.06 USD
-0.3 (-0.36%)
82.3 USD
+0.24 (+0.29%)
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
In the past year GLW was profitable.
In the past year GLW had a positive cash flow from operations.
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 Return On Assets of 4.57%. This is in the better half of the industry: GLW outperforms 68.29% of its industry peers.
Looking at the Return On Equity, with a value of 11.84%, GLW is in the better half of the industry, outperforming 78.86% of the companies in the same industry.
GLW has a Return On Invested Capital of 6.25%. This is in the better half of the industry: GLW outperforms 64.23% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for GLW is significantly below the industry average of 9.58%.
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 76.42% of its industry peers.
GLW's Profit Margin has declined in the last couple of years.
GLW's Operating Margin of 13.41% is amongst the best of the industry. GLW outperforms 82.11% of its industry peers.
GLW's Operating Margin has declined in the last couple of years.
GLW has a Gross Margin of 35.69%. This is comparable 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), GLW is destroying value.
Compared to 1 year ago, GLW has less shares outstanding
Compared to 5 years ago, GLW has more shares outstanding
Compared to 1 year ago, GLW has an improved debt to assets ratio.
2.2 Solvency
GLW has an Altman-Z score of 3.91. This indicates that GLW is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of GLW (3.91) is better than 60.16% 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's Debt to FCF ratio of 7.07 is in line compared to the rest of the industry. GLW outperforms 55.28% of its industry peers.
A Debt/Equity ratio of 0.64 indicates that GLW is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.64, GLW is not doing good in the industry: 78.86% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.07 | ||
| Altman-Z | 3.91 |
ROIC/WACC0.7
WACC8.94%
2.3 Liquidity
GLW has a Current Ratio of 1.56. This is a normal value and indicates that GLW is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.56, GLW is doing worse than 72.36% of the companies in the same industry.
GLW has a Quick Ratio of 1.56. This is a bad value and indicates that GLW is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of GLW (1.00) is worse 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%.
The Revenue has been growing slightly by 2.66% on average over the past years.
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
The Earnings Per Share is expected to grow by 20.01% on average over the next years. This is a very strong growth
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
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.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 34.48, which means the current valuation is very expensive for GLW.
Based on the Price/Earnings ratio, GLW is valued a bit cheaper than the industry average as 60.16% of the companies are valued more expensively.
GLW's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 25.89.
The Price/Forward Earnings ratio is 26.65, which means the current valuation is very expensive for GLW.
Compared to the rest of the industry, the Price/Forward Earnings ratio of GLW is on the same level as its industry peers.
GLW is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 34.59, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34.48 | ||
| Fwd PE | 26.65 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GLW is on the same level as its industry peers.
The rest of the industry has a similar Price/Free Cash Flow ratio as GLW.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 60.49 | ||
| EV/EBITDA | 23.15 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of GLW 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)1.16
PEG (5Y)15.04
EPS Next 2Y25.33%
EPS Next 3Y22.85%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.36%, GLW has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.17, GLW pays a better dividend. On top of this GLW pays more dividend than 90.24% of the companies listed in the same industry.
With a Dividend Yield of 1.36, GLW pays less dividend than the S&P500 average, which is at 2.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.36% |
5.2 History
The dividend of GLW has a limited annual growth rate of 4.75%.
GLW has paid a dividend for at least 10 years, which is 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.
GLW's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP72.69%
EPS Next 2Y25.33%
EPS Next 3Y22.85%
82.06
-0.3 (-0.36%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners74.27%
Inst Owner Change2.04%
Ins Owners0.18%
Ins Owner Change-0.6%
Market Cap70.29B
Revenue(TTM)14.91B
Net Income(TTM)1.37B
Analysts82.11
Price Target79.83 (-2.72%)
Short Float %1.61%
Short Ratio1.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.36% |
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)4.71%
EPS NY rev (1m)1.59%
EPS NY rev (3m)6.5%
Revenue NQ rev (1m)2.02%
Revenue NQ rev (3m)3.15%
Revenue NY rev (1m)0.87%
Revenue NY rev (3m)4.71%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34.48 | ||
| Fwd PE | 26.65 | ||
| P/S | 4.71 | ||
| P/FCF | 60.49 | ||
| P/OCF | 31.02 | ||
| P/B | 6.09 | ||
| P/tB | 8.41 | ||
| EV/EBITDA | 23.15 |
EPS(TTM)2.38
EY2.9%
EPS(NY)3.08
Fwd EY3.75%
FCF(TTM)1.36
FCFY1.65%
OCF(TTM)2.65
OCFY3.22%
SpS17.41
BVpS13.47
TBVpS9.76
PEG (NY)1.16
PEG (5Y)15.04
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 | 3.91 |
F-Score8
WACC8.94%
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 34.48 and the Price/Book (PB) ratio is 6.09.
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%.