CORNING INC (GLW)
US2193501051 - Common Stock
Taking everything into account, GLW scores 4 out of 10 in our fundamental rating. GLW was compared to 127 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 not valued too expensively and it also shows a decent growth rate.
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.
Each year in the past 5 years GLW has been profitable.
In the past 5 years GLW always reported a positive cash flow from operatings.
1.2 Ratios
With a Return On Assets value of 0.55%, GLW perfoms like the industry average, outperforming 51.20% of the companies in the same industry.
Looking at the Return On Equity, with a value of 1.41%, GLW is in line with its industry, outperforming 52.80% of the companies in the same industry.
GLW has a Return On Invested Capital (2.71%) which is in line with its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for GLW is below the industry average of 9.06%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.55% | ||
| ROE | 1.41% | ||
| ROIC | 2.71% |
ROA(3y)3.36%
ROA(5y)2.88%
ROE(3y)8.25%
ROE(5y)6.91%
ROIC(3y)4.68%
ROIC(5y)3.91%
1.3 Margins
GLW has a Profit Margin (1.24%) which is in line with its industry peers.
In the last couple of years the Profit Margin of GLW has declined.
GLW has a Operating Margin of 6.50%. This is in the better half of the industry: GLW outperforms 72.00% of its industry peers.
GLW's Operating Margin has declined in the last couple of years.
The Gross Margin of GLW (31.64%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of GLW has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.5% | ||
| PM (TTM) | 1.24% | ||
| GM | 31.64% |
OM growth 3Y16.23%
OM growth 5Y-12.91%
PM growth 3Y8.01%
PM growth 5Y-11.65%
GM growth 3Y-0.01%
GM growth 5Y-4.6%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), 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 is higher compared to a year ago.
2.2 Solvency
GLW has an Altman-Z score of 2.88. This is not the best score and indicates that GLW is in the grey zone with still only limited risk for bankruptcy at the moment.
GLW has a Altman-Z score (2.88) which is in line with its industry peers.
The Debt to FCF ratio of GLW is 7.13, which is on the high side as it means it would take GLW, 7.13 years of fcf income to pay off all of its debts.
GLW's Debt to FCF ratio of 7.13 is in line compared to the rest of the industry. GLW outperforms 55.20% 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's Debt to Equity ratio of 0.64 is on the low side compared to the rest of the industry. GLW is outperformed by 82.40% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.13 | ||
| Altman-Z | 2.88 |
ROIC/WACC0.28
WACC9.72%
2.3 Liquidity
GLW has a Current Ratio of 1.66. This is a normal value and indicates that GLW is financially healthy and should not expect problems in meeting its short term obligations.
GLW has a worse Current ratio (1.66) than 72.00% of its industry peers.
A Quick Ratio of 1.05 indicates that GLW should not have too much problems paying its short term obligations.
GLW has a Quick ratio of 1.05. This is in the lower half of the industry: GLW underperforms 78.40% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.66 | ||
| Quick Ratio | 1.05 |
3. Growth
3.1 Past
GLW shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 0.00%.
GLW shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -1.03% yearly.
Looking at the last year, GLW shows a decrease in Revenue. The Revenue has decreased by -2.99% in the last year.
GLW shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.20% yearly.
EPS 1Y (TTM)0%
EPS 3Y6.69%
EPS 5Y-1.03%
EPS Q2Q%20%
Revenue 1Y (TTM)-2.99%
Revenue growth 3Y3.65%
Revenue growth 5Y2.2%
Sales Q2Q%7.92%
3.2 Future
GLW is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.44% yearly.
GLW is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.81% yearly.
EPS Next Y15.99%
EPS Next 2Y17.04%
EPS Next 3Y16.24%
EPS Next 5Y15.44%
Revenue Next Year6.37%
Revenue Next 2Y6.58%
Revenue Next 3Y6.81%
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 26.91 indicates a quite expensive valuation of GLW.
Compared to the rest of the industry, the Price/Earnings ratio of GLW indicates a somewhat cheap valuation: GLW is cheaper than 67.20% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of GLW to the average of the S&P500 Index (27.54), we can say GLW is valued inline with the index average.
A Price/Forward Earnings ratio of 20.57 indicates a rather expensive valuation of GLW.
Based on the Price/Forward Earnings ratio, GLW is valued a bit cheaper than the industry average as 72.00% of the companies are valued more expensively.
GLW is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.99, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.91 | ||
| Fwd PE | 20.57 |
4.2 Price Multiples
GLW's Enterprise Value to EBITDA is on the same level as the industry average.
60.80% of the companies in the same industry are more expensive than GLW, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 39.47 | ||
| EV/EBITDA | 21.47 |
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's earnings are expected to grow with 16.24% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.68
PEG (5Y)N/A
EPS Next 2Y17.04%
EPS Next 3Y16.24%
5. Dividend
5.1 Amount
GLW has a Yearly Dividend Yield of 2.38%.
GLW's Dividend Yield is rather good when compared to the industry average which is at 1.86. GLW pays more dividend than 96.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, GLW has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.38% |
5.2 History
On average, the dividend of GLW grows each year by 7.66%, which is quite nice.
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)7.66%
Div Incr Years13
Div Non Decr Years17
5.3 Sustainability
631.41% of the earnings are spent on dividend by GLW. This is not a sustainable payout ratio.
The dividend of GLW is growing, but earnings are growing more, so the dividend growth is sustainable.
DP631.41%
EPS Next 2Y17.04%
EPS Next 3Y16.24%
CORNING INC
NYSE:GLW (12/24/2024, 8:17:13 PM)
After market: 47.9 0 (0%)47.9
+0.4 (+0.84%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners73.98%
Inst Owner Change-0.42%
Ins Owners0.24%
Ins Owner Change-0.28%
Market Cap41.01B
Analysts78
Price Target55 (14.82%)
Short Float %1.29%
Short Ratio2.18
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.38% |
Dividend Growth(5Y)7.66%
DP631.41%
Div Incr Years13
Div Non Decr Years17
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)1.23%
Min EPS beat(2)0.56%
Max EPS beat(2)1.9%
EPS beat(4)3
Avg EPS beat(4)1.81%
Min EPS beat(4)-2.02%
Max EPS beat(4)6.78%
EPS beat(8)5
Avg EPS beat(8)1.22%
EPS beat(12)7
Avg EPS beat(12)1.6%
EPS beat(16)10
Avg EPS beat(16)1.74%
Revenue beat(2)1
Avg Revenue beat(2)0.08%
Min Revenue beat(2)-0.51%
Max Revenue beat(2)0.67%
Revenue beat(4)2
Avg Revenue beat(4)0.79%
Min Revenue beat(4)-0.52%
Max Revenue beat(4)3.53%
Revenue beat(8)2
Avg Revenue beat(8)-1.35%
Revenue beat(12)4
Avg Revenue beat(12)-1.49%
Revenue beat(16)7
Avg Revenue beat(16)-0.59%
PT rev (1m)16.96%
PT rev (3m)23.56%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.94%
EPS NY rev (1m)0.03%
EPS NY rev (3m)2.03%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)3.04%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.53%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.91 | ||
| Fwd PE | 20.57 | ||
| P/S | 3.25 | ||
| P/FCF | 39.47 | ||
| P/OCF | 20.21 | ||
| P/B | 3.69 | ||
| P/tB | 5.19 | ||
| EV/EBITDA | 21.47 |
EPS(TTM)1.78
EY3.72%
EPS(NY)2.33
Fwd EY4.86%
FCF(TTM)1.21
FCFY2.53%
OCF(TTM)2.37
OCFY4.95%
SpS14.73
BVpS12.97
TBVpS9.23
PEG (NY)1.68
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.55% | ||
| ROE | 1.41% | ||
| ROCE | 3.46% | ||
| ROIC | 2.71% | ||
| ROICexc | 2.91% | ||
| ROICexgc | 3.4% | ||
| OM | 6.5% | ||
| PM (TTM) | 1.24% | ||
| GM | 31.64% | ||
| FCFM | 8.24% |
ROA(3y)3.36%
ROA(5y)2.88%
ROE(3y)8.25%
ROE(5y)6.91%
ROIC(3y)4.68%
ROIC(5y)3.91%
ROICexc(3y)5.07%
ROICexc(5y)4.26%
ROICexgc(3y)5.97%
ROICexgc(5y)5%
ROCE(3y)5.97%
ROCE(5y)4.99%
ROICexcg growth 3Y23.45%
ROICexcg growth 5Y-11.47%
ROICexc growth 3Y23.84%
ROICexc growth 5Y-11.44%
OM growth 3Y16.23%
OM growth 5Y-12.91%
PM growth 3Y8.01%
PM growth 5Y-11.65%
GM growth 3Y-0.01%
GM growth 5Y-4.6%
F-Score6
Asset Turnover0.45
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.13 | ||
| Debt/EBITDA | 3.24 | ||
| Cap/Depr | 72.79% | ||
| Cap/Sales | 7.85% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 93.07% | ||
| Profit Quality | 666.03% | ||
| Current Ratio | 1.66 | ||
| Quick Ratio | 1.05 | ||
| Altman-Z | 2.88 |
F-Score6
WACC9.72%
ROIC/WACC0.28
Cap/Depr(3y)107.51%
Cap/Depr(5y)109.07%
Cap/Sales(3y)11.32%
Cap/Sales(5y)12.69%
Profit Quality(3y)115.73%
Profit Quality(5y)109.25%
High Growth Momentum
Growth
EPS 1Y (TTM)0%
EPS 3Y6.69%
EPS 5Y-1.03%
EPS Q2Q%20%
EPS Next Y15.99%
EPS Next 2Y17.04%
EPS Next 3Y16.24%
EPS Next 5Y15.44%
Revenue 1Y (TTM)-2.99%
Revenue growth 3Y3.65%
Revenue growth 5Y2.2%
Sales Q2Q%7.92%
Revenue Next Year6.37%
Revenue Next 2Y6.58%
Revenue Next 3Y6.81%
Revenue Next 5YN/A
EBIT growth 1Y-8.69%
EBIT growth 3Y20.47%
EBIT growth 5Y-10.99%
EBIT Next Year76.26%
EBIT Next 3Y29.34%
EBIT Next 5Y22.96%
FCF growth 1Y-13.2%
FCF growth 3Y-8.51%
FCF growth 5Y0.2%
OCF growth 1Y-32.84%
OCF growth 3Y-2.75%
OCF growth 5Y-7.24%