Tearsheet

Corning (GLW)

Market Price (12/20/2025): $88.8 | Market Cap: $76.0 Bil
Sector: Information Technology | Industry: Electronic Components

Corning (GLW)

Market Price (12/20/2025): $88.8
Market Cap: $76.0 Bil
Sector: Information Technology
Industry: Electronic Components

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, CFO LTM is 2.3 Bil	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 64%
1	Low stock price volatility Vol 12M is 36%	Key risks GLW key risks include [1] an over-reliance on its Display Technologies segment for profitability, Show more.
2	Megatrend and thematic drivers Megatrends include 5G & Advanced Connectivity, Advanced Materials, Biotechnology & Genomics, Precision Medicine, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, CFO LTM is 2.3 Bil
1	Low stock price volatility Vol 12M is 36%
2	Megatrend and thematic drivers Megatrends include 5G & Advanced Connectivity, Advanced Materials, Biotechnology & Genomics, Precision Medicine, Show more.
3	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 64%
4	Key risks GLW key risks include [1] an over-reliance on its Display Technologies segment for profitability, Show more.

Valuation, Metrics & Events

	12/20/25	2024	2023	2022	2021
Share Price CYE	$88.80	$46.63	$29.03	$29.39	$33.23
Market Cap CYE ($ Bil)	76.0	39.8	24.6	24.8	28.2
Total Debt ($ Bil)	9.2	8.1	8.5	7.8	7.8
Total Cash ($ Bil)	1.6	1.8	1.8	1.7	2.1
Enterprise Value ($ Bil)	83.5	47.9	33.1	32.6	36.0
Valuation Ratios
P/S TTM	5.1	3.1	2.1	1.9	2.2
P/EBIT TTM	35.6	35.5	22.6	12.9	11.3
P/E TTM	55.6	80.1	44.4	20.5	16.2
P/FCF TTM	65.4	41.6	42.0	26.6	17.4
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6	4.6
P/EBIT TTM (Sector)	3.0	2.3	-0.2	-0.7	0.0
P/E TTM (Sector)	-0.3	-0.3	-0.5	-0.8	-0.0
P/FCF TTM (Sector)	12.2	13.5	12.3	6.9	14.1

	12/20/25	2024	2023
Share Price CYE	$88.80	$46.63	$29.03
Market Cap CYE ($ Bil)	76.0	39.8	24.6
Total Debt ($ Bil)	9.2	8.1	8.5
Total Cash ($ Bil)	1.6	1.8	1.8
Enterprise Value ($ Bil)	83.5	47.9	33.1
Valuation Ratios
P/S TTM	5.1	3.1	2.1
P/EBIT TTM	35.6	35.5	22.6
P/E TTM	55.6	80.1	44.4
P/FCF TTM	65.4	41.6	42.0
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	3.0	2.3	-0.2
P/E TTM (Sector)	-0.3	-0.3	-0.5
P/FCF TTM (Sector)	12.2	13.5	12.3

	GLW	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	14.9
Rev Chg Q	20.9%	7.2%
Rev Chg LTM	18.3%	6.0%
Rev Chg 3Y Avg	1.7%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	2.0
CFO LTM ($ Bil)	2.3
Net Inc LTM ($ Bil)	1.4
Op Mgn LTM	13.4%	18.8%
CFO/Rev LTM	15.2%	20.4%
Net Inc Mgn	9.2%	13.1%
VALUATION	VERY HIGH
P/S	5.1	3.2
P/CFO	33.5	15.6
P/FCF	65.4	20.6
P/E	55.6	23.5
STABILITY	GOOD
Debt/Equity	0.12	0.21
Cash/Assets	0.06	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Optical Communications' Enterprise Sales Growth (YoY)	58%	9302025	Link
Springboard Operating Margin Target Achievement	Expected to reach 20% in Q4 2025	10282025	Link
Springboard Plan - Annualized Sales Growth Target	Add more than $4 billion in annualized sales by the end of 2026	3182025	Link
Environmental Technology Content Opportunity Increase per US ICE Vehicle	2 to 3 times	4292025	Link
2023-2027 Enterprise Sales CAGR Target in Optical Communications	30%	3182025	Link

Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -

GLW Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Corning (GLW) demonstrated strong positive performance during the approximate period from August 31, 2025, to December 20, 2025, driven by several key factors: 1. Strong Q3 2025 Financial Results and Optimistic Outlook

Corning reported robust third-quarter 2025 results, meeting or slightly surpassing analyst expectations for earnings per share (EPS) and revenue. Core sales increased by 14% year-over-year, and core EPS grew by 24%. The company also provided an optimistic outlook for the fourth quarter of 2025, with revenue guidance exceeding analyst estimates and EPS guidance at or above consensus. This performance underscored strong operational execution and instilled confidence in management's strategic direction. 2. Surging Demand in Optical Communications Driven by AI and Data Centers

The Optical Communications segment was a significant growth driver, with enterprise sales increasing by 58% year-over-year. This surge was primarily attributed to the accelerating demand for new Generative AI (Gen AI) products and substantial investments in AI infrastructure. The segment's overall revenue rose by 33% year-over-year to $1.65 billion, with projections indicating a 34.7% growth for the Optical Communication segment in 2025. Analysts highlighted Corning's pivotal role in data centers, particularly its efforts to replace copper wiring with more efficient fiber optic glass. 3. Growth in Specialty Materials and Expansion into Solar Applications

Corning's Specialty Material segment continued to be a key growth engine. Demand for Corning Gorilla Glass remained strong, with major consumer electronics manufacturers, including Apple, Samsung, Xiaomi, and OnePlus, incorporating it into their premium smartphones. Apple specifically committed to sourcing 100% of its iPhone and Apple Watch cover glass from Corning's Kentucky facility. Additionally, Corning strategically expanded its presence in the solar energy market, with its solar business anticipated to triple by 2027, contributing an estimated $1.6 billion in new annualized revenue. 4. Ahead-of-Schedule Achievement of "Springboard" Plan Targets

The company successfully advanced its "Springboard" strategic plan, aiming to achieve a 20% operating margin target in the fourth quarter of 2025, a full year ahead of its original schedule. This expedited achievement of profitability targets, alongside upgraded goals for incremental annualized sales, demonstrated effective strategic implementation and improved financial efficiency. 5. Positive Analyst Sentiment and Upgraded Price Targets

Throughout this period, Corning received favorable attention from financial analysts. Multiple firms maintained or upgraded their ratings and increased price targets for GLW. For instance, Mizuho raised its price target to $97 from $90, and Argus increased its target to $110. UBS also upgraded its price target to $84 on September 2, 2025. The consensus among analysts was a "Moderate Buy" rating, with an average 12-month price target suggesting continued upside potential.

Show less

Stock Movement Drivers

Fundamental Drivers

The 10.8% change in GLW stock from 9/19/2025 to 12/19/2025 was primarily driven by a 58.9% change in the company's Net Income Margin (%).

	9192025	12192025	Change
Stock Price ($)	79.29	87.86	10.81%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14206.00	14915.00	4.99%
Net Income Margin (%)	5.77%	9.16%	58.86%
P/E Multiple	82.77	55.06	-33.49%
Shares Outstanding (Mil)	855.00	856.00	-0.12%
Cumulative Contribution			10.81%

LTM = Last Twelve Months as of date shown

Market Drivers

9/19/2025 to 12/19/2025

	Return	Correlation
GLW	10.8%
Market (SPY)	2.5%	66.2%
Sector (XLK)	3.8%	70.6%

Fundamental Drivers

The 75.6% change in GLW stock from 6/20/2025 to 12/19/2025 was primarily driven by a 174.3% change in the company's Net Income Margin (%).

	6202025	12192025	Change
Stock Price ($)	50.04	87.86	75.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	13595.00	14915.00	9.71%
Net Income Margin (%)	3.34%	9.16%	174.25%
P/E Multiple	94.25	55.06	-41.58%
Shares Outstanding (Mil)	855.00	856.00	-0.12%
Cumulative Contribution			75.56%

LTM = Last Twelve Months as of date shown

Market Drivers

6/20/2025 to 12/19/2025

	Return	Correlation
GLW	75.6%
Market (SPY)	14.8%	51.4%
Sector (XLK)	20.6%	58.6%

Fundamental Drivers

The 90.2% change in GLW stock from 12/19/2024 to 12/19/2025 was primarily driven by a 640.4% change in the company's Net Income Margin (%).

	12192024	12192025	Change
Stock Price ($)	46.18	87.86	90.25%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	12611.00	14915.00	18.27%
Net Income Margin (%)	1.24%	9.16%	640.38%
P/E Multiple	252.82	55.06	-78.22%
Shares Outstanding (Mil)	854.00	856.00	-0.23%
Cumulative Contribution			90.25%

LTM = Last Twelve Months as of date shown

Market Drivers

12/19/2024 to 12/19/2025

	Return	Correlation
GLW	90.2%
Market (SPY)	17.5%	67.5%
Sector (XLK)	25.2%	72.7%

Fundamental Drivers

The 202.6% change in GLW stock from 12/20/2022 to 12/19/2025 was primarily driven by a 313.7% change in the company's P/E Multiple.

	12202022	12192025	Change
Stock Price ($)	29.03	87.86	202.63%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14459.00	14915.00	3.15%
Net Income Margin (%)	12.72%	9.16%	-27.99%
P/E Multiple	13.31	55.06	313.70%
Shares Outstanding (Mil)	843.00	856.00	-1.54%
Cumulative Contribution			202.56%

LTM = Last Twelve Months as of date shown

Market Drivers

12/20/2023 to 12/19/2025

	Return	Correlation
GLW	209.8%
Market (SPY)	48.5%	58.6%
Sector (XLK)	54.2%	59.9%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
GLW Return	28%	6%	-12%	-1%	61%	86%	253%
Peers Return	�	�	�	�	�	�	�
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
GLW Win Rate	50%	50%	42%	42%	92%	67%
Peers Win Rate	�	�	�	�	�	�
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
GLW Max Drawdown	-38%	-3%	-20%	-15%	-2%	-17%
Peers Max Drawdown	�	�	�	�	�	�
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: TMO, DHR, BDC, COMM, BLTG. See GLW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/19/2025 (YTD)

How Low Can It Go

Unique Key	Event	GLW	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-42.5%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	73.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	348 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-41.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	71.3%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	126 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-25.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	33.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	447 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-71.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	255.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	3,023 days	1,480 days

Compare to TMO, DHR, BDC, COMM, BLTG

In The Past

Corning's stock fell -42.5% during the 2022 Inflation Shock from a high on 4/21/2021. A -42.5% loss requires a 73.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Corning (GLW)

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

AI Generated Analysis | Feedback

Here are 1-3 brief analogies for Corning (GLW):

Corning is like the Intel of specialty glass, supplying crucial screen materials for everything from smartphones to TVs.
It's the Gore-Tex of durable display screens, providing the tough glass that protects your phone and TV displays.
Think of it as a 3M for advanced glass and fiber optics materials, a diversified innovator in materials science.

AI Generated Analysis | Feedback

Corning (GLW) manufactures a variety of advanced glass, ceramics, and optical products:

Gorilla Glass: Chemically strengthened glass designed for display covers on electronic devices like smartphones and tablets.
Optical Fiber and Cable: Core components for telecommunications networks, enabling high-speed internet and data transmission.
Specialty Glass: Includes various high-performance glass substrates for displays, automotive applications, and scientific instruments.
Ceramic Substrates and Filters: Advanced ceramic products primarily used in automotive emissions control systems for cars and trucks.
Life Sciences Products: Laboratory equipment, consumables, and glassware used in scientific research, drug discovery, and manufacturing.

AI Generated Analysis | Feedback

Corning (GLW) primarily sells to other companies (B2B) rather than directly to individual consumers.

Its major customers include:

Samsung Electronics Co., Ltd. (005930.KS): As of Corning's most recent annual report, Samsung and its affiliates represented their largest customer, accounting for approximately 10% of consolidated net sales.
Consumer Electronics Manufacturers: Companies that integrate Corning's Gorilla Glass and other specialty glass into smartphones, tablets, laptops, wearables, and automotive displays. While no other single customer individually represents 10% or more of sales, this segment collectively includes major device makers such as:
- Apple Inc. (AAPL)
- Google (Alphabet Inc.) (GOOGL)
- HP Inc. (HPQ)
- Dell Technologies Inc. (DELL)
Telecommunications Carriers and Data Center Operators: Companies that build and maintain fiber optic networks, utilizing Corning's optical fiber, cable, and connectivity solutions. Key customers include large telecom providers, such as:
- AT&T Inc. (T)
- Verizon Communications Inc. (VZ)
- T-Mobile US, Inc. (TMUS)
Automotive Manufacturers and Tier 1 Suppliers: Companies that incorporate Corning's environmental technologies (e.g., ceramic substrates for emissions control) and automotive glass solutions. This segment includes major automakers and their suppliers, such as:
- Ford Motor Company (F)
- General Motors Company (GM)
- Toyota Motor Corporation (TM)
Life Sciences and Pharmaceutical Companies: Research institutions, biotech firms, and pharmaceutical companies that rely on Corning's laboratory equipment, specialized surfaces, and cell culture solutions. Examples include:
- Thermo Fisher Scientific Inc. (TMO)
- Danaher Corporation (DHR)

AI Generated Analysis | Feedback

null

AI Generated Analysis | Feedback

Wendell P. Weeks, Chairman, Chief Executive Officer & President

Wendell P. Weeks has served as Corning's Chief Executive Officer since April 2005 and Chairman of the Board since April 2007. He joined Corning in 1983 in the Finance group and has held a variety of financial, business development, commercial, and general management roles across the company's businesses and technologies. Weeks was instrumental in innovations such as the development of Corning® Gorilla® Glass and has earned 44 U.S. patents. He serves on the board of directors at Amazon.com, Inc. and previously served on the board of Merck & Co., Inc.

Edward A. Schlesinger, Executive Vice President & Chief Financial Officer

Edward A. Schlesinger was elected Executive Vice President and Chief Financial Officer in February 2022. He joined Corning in 2013 as CFO of Corning's Optical Communications segment. Prior to Corning, Mr. Schlesinger spent more than 20 years in various financial leadership roles with American Standard and Ingersoll Rand, including serving as Vice President, Finance & Sector CFO for the Climate Solutions Sector for Ingersoll Rand. He is a certified public accountant and serves on the board of directors at Hemlock Semiconductor Group.

Lewis A. Steverson, Vice Chairman, Executive Vice President and Chief Legal & Administrative Officer

Lewis A. Steverson is Vice Chairman, Executive Vice President, and Chief Legal & Administrative Officer at Corning. In this role, he advises the CEO, Board of Directors, and Senior Leadership Team, and oversees departments including Law, Government Affairs, and Global Security. Mr. Steverson joined Corning in 2013 as senior vice president and general counsel. Before joining Corning, he served as senior vice president, general counsel, and corporate secretary of Motorola Solutions, Inc., where he held various law leadership roles over 18 years.

Dr. Jaymin Amin, Senior Vice President & Chief Technology Officer

Dr. Jaymin Amin was appointed Senior Vice President and Chief Technology Officer in June 2022. In this position, he is responsible for overseeing Corning's Research, Development, and Engineering functions, advancing the company's innovation portfolio and creating growth opportunities.

Stefan Becker, Senior Vice President, Finance & Corporate Controller

Stefan Becker was appointed Senior Vice President, Finance, and Corporate Controller in December 2021. In this role, he leads the Operations, Staff, and Science & Technology Finance teams, and was named principal accounting officer in February 2022.

AI Generated Analysis | Feedback

The key risks to Corning's (GLW) business are:

Concentration in the Display Technologies Segment and Customer Base: Corning's display technologies segment, while representing a notable portion of sales, contributes a significantly higher percentage of the company's profits. This creates a vulnerability to sustained downturns in TV sales or the potential loss of major customers within this segment, which could severely impact the company's financial performance.
Intense Competition and Pricing Pressure: Corning operates in highly competitive markets across all its business segments, especially in LCD glass. The company anticipates ongoing competition from existing competitors, low-cost manufacturers, and new market entrants. This competitive landscape leads to continuous pricing pressure, particularly in the display glass business, which necessitates proportionate cost reductions or increases in volume and price to maintain profitability.
Dependency on Global Supply Chains and Exposure to Economic and Political Conditions: Due to its extensive global operations, Corning is susceptible to risks associated with disruptions in international supply chains. Furthermore, the company's financial and operational results can be materially impacted by various global factors, including geopolitical tensions, trade uncertainties, fluctuations in currency exchange rates, and adverse economic and political conditions in the regions where it operates.

AI Generated Analysis | Feedback

The accelerating global transition from Internal Combustion Engine (ICE) vehicles to Electric Vehicles (EVs) represents a clear emerging threat to Corning's Environmental Technologies segment. This segment manufactures ceramic substrates and filters crucial for emissions control systems in gasoline and diesel vehicles. As automotive manufacturers worldwide rapidly shift production towards EVs and as governments implement policies to phase out ICE vehicle sales, the demand for these emissions-related components will significantly diminish. Electric vehicles produce no tailpipe emissions and therefore have no requirement for the products currently supplied by Corning's Environmental Technologies business, directly impacting the long-term relevance and market size of this segment.

AI Generated Analysis | Feedback

Corning Inc. (GLW) operates in five main business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The addressable markets for these segments are detailed below:

Display Technologies

Display Glass: The global display glass market was projected at USD 6.5 billion in 2024 and is anticipated to reach USD 7.36 billion by 2033. Another estimate valued the global display glass market at USD 7.5 billion in 2023 and projected it to reach USD 15.4 billion by 2031. For LCD glass specifically, the global market size was estimated at USD 9.64 billion in 2024 and is projected to reach USD 15.42 billion by 2033. The Asia-Pacific region is the most dominant in the global display glass market.

Optical Communications

Optical Fiber and Cable: The global fiber optic cable market was valued at USD 13 billion in 2024 and is estimated to grow to USD 34.5 billion in 2034. Other estimates for the global fiber optical cable market include USD 79.34 billion in 2024, growing to USD 84.15 billion in 2025, and USD 12.18 billion in 2023, anticipated to exceed USD 27.12 billion by 2033. The Asia Pacific region was the largest market for fiber optic cable in 2024.

Environmental Technologies

Ceramic Substrates and Filter Products for Emissions Control (Automotive Catalysts): The global automotive catalyst market size was valued at USD 12.8 billion in 2023 and is poised to grow to USD 19.94 billion by 2032. Another report estimated the global automotive catalysts market at USD 15.6 billion in 2024, projected to reach USD 23.5 billion by 2034. A higher estimate for the global automotive catalyst market size was USD 92.05 billion in 2024, projected to reach USD 138.09 billion by 2032. The Asia Pacific region held a dominant market position in automotive catalysts in 2024.

Specialty Materials

Smartphone Cover Glass (e.g., Gorilla Glass): The global market for smartphone cover glass was estimated to be worth US$ 1.524 billion in 2024 and is forecast to reach US$ 1.666 billion by 2031. Other estimates indicate the global smartphone cover glass market was valued at USD 527.13 million in 2024, projected to reach USD 2.719 billion by 2031, or USD 13.76 billion in 2024, projected to reach USD 26.19 billion by 2033. The Asia-Pacific region is the leading market for smartphone cover glass. Corning's broader Specialty Materials segment, which includes precision glass for advanced displays and semiconductor optics, operates within a global specialty materials market size of USD 241.96 billion in 2024, expected to grow to USD 260.04 billion in 2025.

Life Sciences

Labware and Equipment: The global Life Sciences General Labware market is projected to reach USD 1,296.5 million in 2025. More broadly, the global life science lab equipment market size is calculated at USD 57.71 billion in 2024, growing to USD 61.08 billion in 2025, and projected to reach around USD 101.37 billion by 2034. Another source indicates the global Life Sciences and Laboratory Equipment market size is projected at USD 58.36 billion in 2024 and is expected to hit USD 96.22 billion by 2033. The global laboratory glassware market, a sub-segment, was estimated at USD 1.96 billion in 2023 and is estimated to grow to USD 2.45 billion by 2030. North America and Europe currently hold the largest market shares for life sciences labware and equipment, with Asia-Pacific expected to witness the fastest growth.

AI Generated Analysis | Feedback

Corning (GLW) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

Optical Communications for Generative AI and Data Centers: Strong demand for Corning's optical connectivity products, especially for generative AI (Gen AI) applications and hyperscale data centers, is a significant growth driver. The company has seen robust adoption of new optical connectivity products for Gen AI and anticipates continued growth in its enterprise business due to fiber network expansion.
Expansion in Solar Products and U.S. Manufacturing: Corning is actively commercializing new U.S.-made solar products, supported by guaranteed customer capacity through 2025 and beyond. A major ramp-up of U.S. solar ingot/wafer capacity in Hemlock, Michigan, with over 80% of capacity committed for more than five years, aligns with policy shifts toward energy independence and is expected to deliver higher revenue.
Growth in Specialty Materials with Key Customer Commitments: The Specialty Materials segment is poised for growth, notably driven by Apple's commitment of $2.5 billion to develop all of iPhone and Apple Watch's cover glass in Corning's Kentucky manufacturing facilities. This investment supports the development of advanced glass production lines.
Strategic Pricing and Operational Efficiencies: Corning is implementing price increases, particularly in its Display Technologies segment, to maintain stable U.S. dollar net income. Furthermore, the company's "Springboard" plan aims to add more than $4 billion in yearly sales by 2026 and targets a 20% operating margin by the end of 2026, indicating a focus on profitable growth and operational leverage.

AI Generated Analysis | Feedback

Share Repurchases

Corning had a $5 billion share repurchase authorization in place since July 2019, under which it had bought back $1.8 billion in shares as of September 2024, with 64% of the plan yet to be executed.
In April of 2021, 2022, and 2023, Corning repurchased and retired 35 million common shares from Samsung Display Co., Ltd. for an aggregate of approximately $1.5 billion, with payments of about $507 million each year.
Share buybacks are considered the primary vehicle for returning cash to shareholders, despite a declining quarterly spend to $25 million in Q3 2025.

Inbound Investments

Apple made a $2.5 billion commitment to Corning's Kentucky facility to produce 100% of iPhone and Apple Watch cover glass, signifying a substantial strategic investment in Corning's manufacturing capabilities.
Corning maintains strategic partnerships with major technology and automotive companies, including Apple and Verizon.

Outbound Investments

Corning has partnered with Ensurge Micropower ASA to jointly develop advanced solid-state microbatteries, indicating a strategic investment in new technology.
Corning reported minimal to no significant net outbound acquisitions, with annual net acquisitions/divestitures being $0 million in 2024 and $0 billion in 2023.
As part of its strategic transformation, Corning divested its wireless business.

Capital Expenditures

Corning's capital expenditures were $965 million in 2024, $1.39 billion in 2023, and $1.6 billion in 2022.
The company expects to spend approximately $1.3 billion in capital expenditures for 2025.
Capital expenditures are primarily focused on maintaining and expanding manufacturing capabilities, particularly in high-growth areas such as AI infrastructure, advanced optical communications, and solar products, aligning with their "Springboard" plan to drive significant returns and innovation.

Interactive Breakdown

Corning Interactive Breakdown Analysis

Better Bets than Corning (GLW)

	GLW	Better Performance than GLW
Metric	Value	INDUSTRY: Electronic Components
Rev Chg LTM	18.3%	APH (47.4%), OUST (30.2%), BELFA (23.7%), CLS (22.1%), COHR (20.8%)
Rev Chg 3Y Avg	1.7%	APH (20.7%), CLS (18.9%), COHR (16.5%), BELFA (2.7%), BDC (1.8%)
Op Mgn LTM	13.4%	NEON (365.5%), APH (24.6%), MPTI (17.0%), BELFA (14.4%), LFUS (13.9%)
CFO/Rev LTM	15.2%	WETH (23.7%), APH (21.5%), LFUS (19.6%), MPTI (18.5%), KN (17.8%)
FCF/Rev LTM	7.8%	APH (17.0%), LFUS (16.4%), KN (14.3%), ALNT (8.9%), BDC (8.0%)
Total Yield	3.1%	NEON (26.6%), BDC (5.0%), LYTS (5.0%), MPTI (4.8%), BELFA (3.5%)
P/S	5.0	VSH (0.7), BDC (1.7), LFUS (2.7), CLS (3.0), COHR (4.8)
P/Op Inc	37.6	BDC (15.7), LFUS (19.7), BELFA (20.7), APH (32.0), CLS (35.2)

	GLW	Better Performance than GLW
Metric	Value	SECTOR: Information Technology
Rev Chg LTM	18.3%	NVDA (65.2%), PLTR (47.2%), MU (45.4%), AMD (31.8%), AVGO (23.9%)
Rev Chg 3Y Avg	1.7%	NVDA (91.6%), AVGO (25.2%), MSFT (13.2%), ORCL (9.8%), AAPL (1.8%)
Op Mgn LTM	13.4%	NVDA (58.8%), MSFT (46.3%), AVGO (40.8%), ORCL (31.9%), AAPL (31.9%)
CFO/Rev LTM	15.2%	MSFT (50.0%), NVDA (44.4%), AVGO (43.1%), ORCL (36.5%), AAPL (26.6%)
FCF/Rev LTM	7.8%	PLTR (46.0%), AVGO (42.1%), NVDA (41.3%), MSFT (26.6%), AAPL (23.5%)
Total Yield	3.1%	CSCO (5.4%), IBM (5.0%), MU (4.2%), ORCL (3.8%), MSFT (3.6%)
P/S	5.0	DELL (0.8), ACN (2.4), INTC (3.1), QCOM (4.3), IBM (4.3)
P/Op Inc	37.6	MU (21.7), CSCO (23.9), MSFT (26.6), ORCL (28.2), AAPL (31.3)

	GLW	Better Performance than GLW
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	18.3%	LLY (36.8%), COF (25.4%), SCHW (22.3%), ISRG (22.2%), META (21.3%)
Rev Chg 3Y Avg	1.7%	BRK-B (19.8%), META (17.3%), AMZN (11.3%), GOOGL (11.0%), TSLA (9.3%)
Op Mgn LTM	13.4%	MA (58.3%), META (43.2%), LLY (43.0%), GOOGL (32.2%), JNJ (26.2%)
CFO/Rev LTM	15.2%	META (56.8%), GOOGL (39.3%), LLY (20.5%), AMZN (18.1%), TSLA (16.5%)
FCF/Rev LTM	7.8%	V (53.9%), MA (52.5%), META (23.7%), JNJ (20.3%), GOOGL (19.1%)
Total Yield	3.1%	JPM (6.6%), BRK-B (6.3%), META (3.8%), GOOGL (3.6%), WMT (3.3%)
P/S	5.0	WMT (1.3), XOM (1.5), BRK-B (2.7), AMZN (3.6), JPM (4.9)
P/Op Inc	37.6	META (20.2), MA (29.4), GOOGL (29.9), WMT (31.5), AMZN (31.7)

		Best Bets In Information Technology Sector
	GLW	VRSN	IDCC	NVDA	GEN	ZM	DBX	YOU	MPWR	DAVE	FISV
What You Pay
P/E	55.1	28.1	17.4	44.4	29.8	16.8	14.9	19.6	23.7	19.7	10.2
P/EBIT	35.3	20.3	14.1	37.8	10.6	24.4	12.1	21.4	64.9	22.5	6.2
What You Get
Rev Chg Q	20.9%	7.3%	28.0%	62.5%	25.3%	4.4%	-0.7%	15.5%	18.9%	63.0%	0.9%
Rev Chg LTM	18.3%	5.5%	28.8%	65.2%	16.2%	3.8%	-0.4%	17.8%	30.5%	53.8%	5.2%
Rev Chg 3Y Avg	1.7%	5.2%	27.1%	91.6%	16.5%	3.4%	3.4%	31.0%	17.2%	38.6%	6.8%
FCF/Rev 3Y Avg	6.4%	57.4%	54.2%	43.4%	36.7%	36.1%	33.4%	32.5%	28.6%	26.0%	21.5%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Corning Earnings Notes
2	What Is Happening With Corning Stock?
3	Corning Stock On Fire: Up 15% With 6-Day Winning Streak	Notification
4	Now Is Not The Time To Buy Corning Stock	Buy or Fear
5	Amphenol or Corning: Which Stock Has More Upside?	Counter-Intuitive Comparisons
6	How Corning Stock Gained 80%
7	COHR Beats Corning Stock on Price & Growth	Actionable
8	Is Corning Stock Built to Withstand a Pullback?	Return
9	GLW Surges 18% In A Single Month: Where Does It Rank Among Competitors?
10	Day 11 of Gains Streak for Corning Stock with 17% Return (vs. 68% YTD) [9/16/2025]	Notification
11	ARTICLES
12	S&P 500 Movers \| Winners: LULU, MOS, GE \| Losers: AVGO, GLW, ANET		December 12th, 2025
13	6-Day Rally Sends Corning Stock Up 15%		December 12th, 2025
14	Corning Stock To $66?		December 11th, 2025
15	Amphenol or Corning: Which Stock Has More Upside?		December 11th, 2025
16	Corning Stock To $58?		November 14th, 2025

	Title
0	DASHBOARDS
1	Corning Earnings Notes
2	What Is Happening With Corning Stock?
3	Corning Stock On Fire: Up 15% With 6-Day Winning Streak
4	Now Is Not The Time To Buy Corning Stock
5	Amphenol or Corning: Which Stock Has More Upside?
6	How Corning Stock Gained 80%
7	COHR Beats Corning Stock on Price & Growth
8	Is Corning Stock Built to Withstand a Pullback?
9	GLW Surges 18% In A Single Month: Where Does It Rank Among Competitors?
10	Day 11 of Gains Streak for Corning Stock with 17% Return (vs. 68% YTD) [9/16/2025]
11	ARTICLES
12	S&P 500 Movers \| Winners: LULU, MOS, GE \| Losers: AVGO, GLW, ANET
13	6-Day Rally Sends Corning Stock Up 15%
14	Corning Stock To $66?
15	Amphenol or Corning: Which Stock Has More Upside?
16	Corning Stock To $58?

Trade Ideas

Select past ideas related to GLW. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	15.3%	15.3%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	10.2%	10.2%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.6%	14.6%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	9.6%	9.6%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.4%	8.4%	0.0%
GLW_9302022_Dip_Buyer_FCFYield	09302022	GLW	Corning	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	23.6%	8.6%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	15.3%	15.3%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	10.2%	10.2%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.6%	14.6%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	9.6%	9.6%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.4%	8.4%	0.0%
GLW_9302022_Dip_Buyer_FCFYield	09302022	GLW	Corning	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	23.6%	8.6%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LUNR	Intuitive Machines	1.8	37.7%	-17.7%
GTN-A	Gray Media	1.1	30.9%	55.5%
FOLD	Amicus Therapeutics	4.4	30.2%	50.5%
FLY	Firefly Aerospace	3.5	22.8%
CRWV	CoreWeave	40.4	22.6%
EVMN	Evommune	0.5	21.6%
EWTX	Edgewise Therapeutics	2.7	20.8%	-4.3%
FBYD	Falcons Beyond Global	0.7	19.9%	125.4%
ONDS	Ondas	1.4	18.2%	260.2%
BMRN	BioMarin Pharmaceutical	11.7	17.7%	-7.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LW	Lamb Weston	6.2	-25.9%	-32.5%
BB	BlackBerry	2.2	-12.9%	-0.3%
IRON	Disc Medicine	2.8	-11.5%	26.2%
NKE	Nike	86.7	-10.5%	-20.6%
TLRY	Tilray Brands	11.8	-9.6%	-16.1%
OLMA	Olema Pharmaceuticals	2.4	-9.3%	379.1%
KBH	KB Home	3.8	-8.5%	-11.2%
PAHC	Phibro Animal Health	1.5	-7.8%	80.2%
EEX	Emerald	0.9	-7.7%	-1.3%
GETY	Getty Images	0.5	-7.4%	-41.7%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FBYD	Falcons Beyond Global	0.7	60.2%	125.4%
DJT	Trump Media & Technology	4.5	51.1%	-52.8%
GTN-A	Gray Media	1.1	40.6%	55.5%
FOLD	Amicus Therapeutics	4.4	34.4%	50.5%
EEX	Emerald	0.9	27.4%	-1.3%
LUNR	Intuitive Machines	1.8	24.8%	-17.7%
QURE	uniQure	1.3	23.0%	35.8%
RIVN	Rivian Automotive	27.4	21.9%	68.8%
PHAT	Phathom Pharmaceuticals	1.3	20.4%	115.9%
TE	T1 Energy	1.0	20.2%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.2	-82.0%	-26.7%
LWLG	Lightwave Logic	0.4	-28.0%	42.4%
LW	Lamb Weston	6.2	-26.3%	-32.5%
INSP	Inspire Medical Systems	2.8	-26.1%	-47.9%
BETR	Better Home & Finance	0.5	-21.1%	269.6%
FDMT	4D Molecular Therapeutics	0.5	-19.9%	55.8%
VSTM	Verastem	0.6	-19.3%	50.1%
CGEM	Cullinan Therapeutics	0.6	-18.8%	-20.5%
USAR	USA Rare Earth	1.4	-18.8%	46343.0%
BW	Babcock & Wilcox Enterprises	0.5	-17.6%	198.8%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	2.6	132.3%	29.2%
TE	T1 Energy	1.0	122.5%
VERA	Vera Therapeutics	3.3	79.4%	21.1%
FTRE	Fortrea	1.6	76.7%	-4.9%
ARWR	Arrowhead Pharmaceuticals	9.5	74.9%	262.6%
ANF	Abercrombie & Fitch	5.8	73.7%	-19.0%
ALMS	Alumis	0.9	71.8%	43.6%
LUNR	Intuitive Machines	1.8	70.5%	-17.7%
VSCO	Victoria's Secret	4.5	63.0%	36.9%
PL	Planet Labs PBC	5.8	62.7%	374.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.6%	-63.9%
JANX	Janux Therapeutics	0.9	-52.1%	-74.2%
FRMI	Fermi	5.9	-50.1%
LENZ	LENZ Therapeutics	0.5	-36.6%	-37.7%
GOGO	Gogo	0.6	-34.9%	-44.0%
LWLG	Lightwave Logic	0.4	-34.0%	42.4%
BETR	Better Home & Finance	0.5	-32.1%	269.6%
IMSR	Terrestrial Energy	0.7	-30.8%
ORIC	ORIC Pharmaceuticals	0.6	-30.0%	-0.4%
PBF	PBF Energy	3.0	-29.7%	3.7%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LUNR	Intuitive Machines	1.8	37.7%	-17.7%
GTN-A	Gray Media	1.1	30.9%	55.5%
FOLD	Amicus Therapeutics	4.4	30.2%	50.5%
FLY	Firefly Aerospace	3.5	22.8%
CRWV	CoreWeave	40.4	22.6%
EVMN	Evommune	0.5	21.6%
EWTX	Edgewise Therapeutics	2.7	20.8%	-4.3%
FBYD	Falcons Beyond Global	0.7	19.9%	125.4%
ONDS	Ondas	1.4	18.2%	260.2%
BMRN	BioMarin Pharmaceutical	11.7	17.7%	-7.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LW	Lamb Weston	6.2	-25.9%	-32.5%
BB	BlackBerry	2.2	-12.9%	-0.3%
IRON	Disc Medicine	2.8	-11.5%	26.2%
NKE	Nike	86.7	-10.5%	-20.6%
TLRY	Tilray Brands	11.8	-9.6%	-16.1%
OLMA	Olema Pharmaceuticals	2.4	-9.3%	379.1%
KBH	KB Home	3.8	-8.5%	-11.2%
PAHC	Phibro Animal Health	1.5	-7.8%	80.2%
EEX	Emerald	0.9	-7.7%	-1.3%
GETY	Getty Images	0.5	-7.4%	-41.7%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FBYD	Falcons Beyond Global	0.7	60.2%	125.4%
DJT	Trump Media & Technology	4.5	51.1%	-52.8%
GTN-A	Gray Media	1.1	40.6%	55.5%
FOLD	Amicus Therapeutics	4.4	34.4%	50.5%
EEX	Emerald	0.9	27.4%	-1.3%
LUNR	Intuitive Machines	1.8	24.8%	-17.7%
QURE	uniQure	1.3	23.0%	35.8%
RIVN	Rivian Automotive	27.4	21.9%	68.8%
PHAT	Phathom Pharmaceuticals	1.3	20.4%	115.9%
TE	T1 Energy	1.0	20.2%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.2	-82.0%	-26.7%
LWLG	Lightwave Logic	0.4	-28.0%	42.4%
LW	Lamb Weston	6.2	-26.3%	-32.5%
INSP	Inspire Medical Systems	2.8	-26.1%	-47.9%
BETR	Better Home & Finance	0.5	-21.1%	269.6%
FDMT	4D Molecular Therapeutics	0.5	-19.9%	55.8%
VSTM	Verastem	0.6	-19.3%	50.1%
CGEM	Cullinan Therapeutics	0.6	-18.8%	-20.5%
USAR	USA Rare Earth	1.4	-18.8%	46343.0%
BW	Babcock & Wilcox Enterprises	0.5	-17.6%	198.8%

Peer Comparisons for Corning

Peers to compare with:

Financials

	GLW	TMO	DHR	BDC	COMM	BLTG	Median
Name	Corning	Thermo F.	Danaher	Belden	CommScope	Boundless
Mkt Price	87.86	567.83	224.84	117.77	18.29	-	117.77
Mkt Cap	75.2	214.6	159.8	4.7	4.1	-	75.2
Rev LTM	14,915	43,735	24,268	2,661	5,299	-	14,915
Op Inc LTM	2,000	8,051	4,613	297	781	-	2,000
FCF LTM	1,162	6,111	5,017	214	268	-	1,162
FCF 3Y Avg	865	6,811	5,612	224	282	-	865
CFO LTM	2,266	7,651	6,318	369	320	-	2,266
CFO 3Y Avg	2,068	8,307	6,897	356	333	-	2,068

Growth & Margins

	GLW	TMO	DHR	BDC	COMM	BLTG	Median
Name	Corning	Thermo F.	Danaher	Belden	CommScope	Boundless
Rev Chg LTM	18.3%	3.2%	2.2%	13.4%	33.8%	-	13.4%
Rev Chg 3Y Avg	1.7%	-0.3%	-1.9%	1.8%	0.6%	-	0.6%
Rev Chg Q	20.9%	4.9%	4.4%	6.6%	50.6%	-	6.6%
QoQ Delta Rev Chg LTM	5.0%	1.2%	1.1%	1.7%	11.5%	-	1.7%
Op Mgn LTM	13.4%	18.4%	19.0%	11.2%	14.7%	-	14.7%
Op Mgn 3Y Avg	8.9%	17.6%	21.0%	11.5%	9.1%	-	11.5%
QoQ Delta Op Mgn LTM	1.4%	0.2%	0.6%	-0.1%	2.5%	-	0.6%
CFO/Rev LTM	15.2%	17.5%	26.0%	13.9%	6.0%	-	15.2%
CFO/Rev 3Y Avg	15.3%	19.3%	30.3%	14.0%	9.0%	-	15.3%
FCF/Rev LTM	7.8%	14.0%	20.7%	8.0%	5.1%	-	8.0%
FCF/Rev 3Y Avg	6.4%	15.8%	24.7%	8.8%	7.7%	-	8.8%

Valuation

	GLW	TMO	DHR	BDC	COMM	BLTG	Median
Name	Corning	Thermo F.	Danaher	Belden	CommScope	Boundless
Mkt Cap	75.2	214.6	159.8	4.7	4.1	-	75.2
P/S	5.0	4.9	6.6	1.7	0.8	-	4.9
P/EBIT	35.3	25.4	35.9	15.8	5.1	-	25.4
P/E	55.1	32.7	45.6	20.4	4.4	-	32.7
P/CFO	33.2	28.1	25.3	12.6	12.7	-	25.3
Total Yield	3.1%	3.1%	2.2%	5.0%	23.0%	-	3.1%
Dividend Yield	1.3%	0.0%	0.0%	0.1%	0.0%	-	0.0%
FCF Yield 3Y Avg	2.0%	3.3%	3.3%	5.0%	29.1%	-	3.3%
D/E	0.1	0.2	0.1	0.3	1.8	-	0.2
Net D/E	0.1	0.1	0.1	0.2	1.6	-	0.1

Returns

	GLW	TMO	DHR	BDC	COMM	BLTG	Median
Name	Corning	Thermo F.	Danaher	Belden	CommScope	Boundless
1M Rtn	7.6%	-1.0%	1.1%	8.1%	7.5%	-	7.5%
3M Rtn	10.8%	18.5%	16.3%	-9.6%	11.2%	-	11.2%
6M Rtn	75.6%	42.9%	14.9%	7.3%	189.4%	-	42.9%
12M Rtn	90.2%	10.3%	0.0%	2.9%	220.9%	-	10.3%
3Y Rtn	202.6%	8.4%	0.5%	62.4%	155.4%	-	62.4%
1M Excs Rtn	4.7%	-3.9%	-1.8%	5.2%	4.6%	-	4.6%
3M Excs Rtn	9.3%	17.5%	15.9%	-11.8%	5.5%	-	9.3%
6M Excs Rtn	57.5%	28.7%	1.5%	-8.2%	169.7%	-	28.7%
12M Excs Rtn	74.5%	-5.2%	-16.1%	-13.7%	213.1%	-	-5.2%
3Y Excs Rtn	112.0%	-70.1%	-77.4%	-18.2%	55.6%	-	-18.2%

Comparison Analyses

	Title
0	TMO or GLW - With 6.2% Return Forecast, GLW Probably Deserves Your Money
1	Why WST With 15% Upside May Beat GLW?
2	GLW Could Deliver 6.3% Returns And Outperform MMM
3	With 6.2% Gains On The Table, GLW May Outshine CSCO
4	Corning vs. CommScope: With Return Forecast Of 58%, CommScope Is A Better Bet
5	Corning vs. Belden: With Return Forecast Of 17%, Corning Is A Better Bet
6	Corning vs. Automatic Data Processing: With Return Forecast Of 11%, Corning Is A Better Bet
7	Corning vs. Booking Holdings: Both Seem Similar Bets
8	Corning vs. NextEra Energy: With Return Forecast Of 25%, NextEra Energy Is A Better Bet
9	Corning vs. LNG: With Return Forecast Of 60%, LNG Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/31/2025	2/13/2025	2/12/2024	2/13/2023	2/14/2022	2/12/2021	2/18/2020
Key Financials
Total Revenue	14,915	13,118	12,588	14,189	14,082	11,303	11,503
EBITDA	3,464	2,492	2,514	3,541	4,207	2,419	2,940
Operating Income	2,000	1,135	890	1,438	2,112	509	1,306
Net Income	1,366	506	581	1,316	1,906	512	960
EPS	1.59	0.59	0.69	1.56	1.30	0.54	1.11
Growth Rates
Total Revenue Growth	18.3%	4.2%	-11.3%	0.8%	24.6%	-1.7%	1.9%
EBITDA Growth	70.0%	-0.9%	-29.0%	-15.8%	73.9%	-17.7%	-1.6%
Operating Income Growth	143.9%	27.5%	-38.1%	-31.9%	314.9%	-61.0%	-17.1%
Net Income Growth	775.6%	-12.9%	-55.9%	-31.0%	272.3%	-46.7%	-9.9%
Margins
EBITDA Margin	23.2%	19.0%	20.0%	25.0%	29.9%	21.4%	25.6%
Operating Income Margin	13.4%	8.7%	7.1%	10.1%	15.0%	4.5%	11.4%
Net Income Margin	9.2%	3.9%	4.6%	9.3%	13.5%	4.5%	8.3%
Cash & Debt
Total Cash	1,648	1,768	1,779	1,671	2,148	2,672	2,434
Total Debt	9,185	8,091	8,484	7,817	7,829	8,701	8,252
Net Debt / (Cash)	7,537	6,323	6,705	6,146	5,681	6,029	5,818
Cash Flows
Net Cash from Operations	2,266	1,939	2,005	2,615	3,412	2,180	2,031
Free Cash from Operations	1,162	974	615	1,011	1,775	803	53
Returns to Shareholders
Dividends	993	986	989	932	871	787	742
Share Repurchases	188	165	507	728	781	105	940

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/31/2025	8/1/2025	5/2/2025	2/13/2025	11/1/2024	8/2/2024	5/2/2024	2/12/2024	10/30/2023	7/27/2023	4/28/2023	2/13/2023
Key Financials Quarterly
Total Revenue	4,100	3,862	3,452	3,501	3,391	3,251	2,975	2,994	3,173	3,243	3,178	3,406
Ebitda	965	1,007	641	851	332	593	716	397	639	833	645	426
Operating Income	589	573	445	393	302	186	254	78	236	279	297	86
Net Income	430	469	157	310	-117	104	209	-40	164	281	176	-36
EPS	0.50	0.55	0.18	0.36	-0.14	0.12	0.25	-0.05	0.19	0.33	0.21	-0.04
Key Financials TTM
Total Revenue TTM	14,915	14,206	13,595	13,118	12,611	12,393	12,385	12,588	13,000	13,315	13,687	14,189
Ebitda TTM	3,464	2,831	2,417	2,492	2,038	2,345	2,585	2,514	2,543	2,595	2,959	3,541
Operating Income TTM	2,000	1,713	1,326	1,135	820	754	847	890	898	954	1,165	1,438
Net Income TTM	1,366	819	454	506	156	437	614	581	585	629	911	1,316
Growth Rates Quarterly
Total Revenue Growth	20.9%	18.8%	16.0%	16.9%	6.9%	0.2%	-6.4%	-12.1%	-9.0%	-10.3%	-13.6%	-7.3%
EBITDA Growth	190.7%	69.8%	-10.5%	114.4%	-48.0%	-28.8%	11.0%	-6.8%	-7.5%	-30.4%	-47.4%	-58.9%
Operating Income Growth	95.0%	208.1%	75.2%	403.8%	28.0%	-33.3%	-14.5%	-9.3%	-19.2%	-43.1%	-47.9%	-82.2%
Net Income Growth	467.5%	351.0%	-24.9%	875.0%	-171.3%	-63.0%	18.8%	-11.1%	-21.2%	-50.1%	-69.7%	-107.4%
Margins Quarterly
EBITDA Margin	23.5%	26.1%	18.6%	24.3%	9.8%	18.2%	24.1%	13.3%	20.1%	25.7%	20.3%	12.5%
Operating Income Margin	14.4%	14.8%	12.9%	11.2%	8.9%	5.7%	8.5%	2.6%	7.4%	8.6%	9.3%	2.5%
Net Income Margin	10.5%	12.1%	4.5%	8.9%	-3.5%	3.2%	7.0%	-1.3%	5.2%	8.7%	5.5%	-1.1%
Cash & Debt
Total Cash	1,648	1,491	1,359	1,768	1,613	1,419	1,365	1,779	1,639	1,538	1,146	1,671
Total Debt	9,185	8,499	8,153	8,091	8,341	8,197	8,291	8,484	8,457	8,554	7,797	7,817
Net Debt / (Cash)	7,537	7,008	6,794	6,323	6,728	6,778	6,926	6,705	6,818	7,016	6,651	6,146
Cash Flows Quarterly
FCF from Operations	784	708	151	623	699	521	96	713	722	619	-49	617
Cash Flows TTM
FCF from Operations TTM	2,266	2,181	1,994	1,939	2,029	2,052	2,150	2,005	1,909	1,893	2,032	2,615
Returns to Shareholders Quarterly
Dividends	241	261	242	249	242	252	243	248	246	256	239	236
Share Repurchases	25	33	100	30	30	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	26.7%	28.0%	20.2%	19.3%	18.0%	7.8%	11.2%	3.4%	11.6%	11.8%	15.0%	5.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	21.9%	19.4%	14.2%	13.1%	8.1%	8.6%	9.4%	10.5%	10.0%	10.5%	13.7%	18.0%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Optical Communications	4,012	5,023	4,349	3,563	4,064
Display	3,532	3,306	3,700	3,172	3,254
Specialty Materials	1,865	2,002	2,008	1,884	1,594
Automotive	1,766	1,584	1,586	1,370	1,499
Hemlock and Emerging Growth Businesses	1,446	1,662	1,243	465	230
Life Sciences	959	1,228	1,234	998	1,015
Impact of constant-currency reporting	-992	-616	-38	-44	-153
Cumulative adjustment related to customer contract				-105
Total	12,588	14,189	14,082	11,303	11,503

Net Income by Segment

$ Mil	2024	2023	2022	2021	2020
Display	842	769	960	717	786
Optical Communications	478	661	553	366	489
Automotive	386	292	269	197	263
Specialty Materials	202	340	371	423	302
Life Sciences	50	153	194	139	150
Hemlock and Emerging Growth Businesses	15	39	-51	-214	-289
Total	1,973	2,254	2,296	1,628	1,701

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Display	7,899	8,104	8,672	8,777	9,022
Other non-current assets	6,243	6,315	6,363	6,594	5,764
Optical Communications	3,241	3,295	3,183	2,868	3,004
Current assets	2,522	2,823	3,163	3,434	3,301
Specialty Materials	2,476	2,419	2,328	2,551	2,433
Hemlock and Emerging Growth Businesses	2,307	2,136	2,024	2,157	1,028
Automotive	1,873	2,061	2,150	1,986	1,912
Property, plant and equipment, net	1,038	1,385	1,426	1,548	1,764
Life Sciences	782	862	791	683	627
Investments	119	99	54	177	43
Total	28,500	29,499	30,154	30,775	28,898

Price Behavior

Price Behavior

Market Price	$87.86
Market Cap ($ Bil)	75.2
First Trading Date	12/31/1981
Distance from 52W High	-8.5%
	50 Days	200 Days
DMA Price	$85.80	$63.49
DMA Trend	up	up
Distance from DMA	2.4%	38.4%
	3M	1YR
Volatility	38.9%	36.3%
Downside Capture	169.99	105.78
Upside Capture	200.24	152.12
Correlation (SPY)	65.8%	67.4%

GLW Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.29	1.96	1.80	1.51	1.21	1.07
Up Beta	2.89	2.15	1.77	1.42	1.05	0.90
Down Beta	3.75	2.42	2.46	2.38	1.48	1.21
Up Capture	133%	176%	215%	198%	181%	174%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	23	39	75	139	404
Down Capture	221%	168%	114%	65%	99%	101%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	18	23	49	108	343

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of GLW With Other Asset Classes (Last 1Y)
	GLW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	85.8%	20.5%	13.5%	62.9%	2.8%	-2.4%	-19.7%
Annualized Volatility	36.2%	27.8%	19.7%	19.2%	16.0%	17.7%	35.4%
Sharpe Ratio	1.77	0.65	0.52	2.42	-0.01	-0.29	-0.33
Correlation With Other Assets		72.9%	67.7%	11.1%	29.5%	37.4%	28.9%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of GLW With Other Asset Classes (Last 5Y)
	GLW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	23.1%	19.3%	14.8%	18.3%	11.1%	4.7%	34.8%
Annualized Volatility	29.0%	24.7%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	0.75	0.71	0.70	0.95	0.48	0.16	0.62
Correlation With Other Assets		58.2%	62.2%	7.9%	18.7%	42.1%	25.2%

Based On 10-Year Data

		Comparison of GLW With Other Asset Classes (Last 10Y)
	GLW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	19.9%	22.5%	14.8%	14.5%	6.3%	5.4%	68.9%
Annualized Volatility	30.4%	24.2%	18.0%	14.7%	17.7%	20.8%	55.8%
Sharpe Ratio	0.66	0.85	0.71	0.81	0.28	0.23	0.89
Correlation With Other Assets		65.0%	70.5%	1.0%	25.6%	51.3%	15.9%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	12,580,925
Short Interest: % Change Since 11152025	-17.8%
Average Daily Volume	6,318,706
Days-to-Cover Short Interest	1.99
Basic Shares Quantity	856,000,000
Short % of Basic Shares	1.5%

Returns Analyses

	Title
0	Is Corning Stock Built to Withstand a Pullback?
1	Corning During 2008 Recession vs. 2022 Inflation Shock: GLW Stock Is Now 114% Higher Than Its Pre-Shock High
2	Corning Stock Return Comparison
3	[9/30/2021] Corning (GLW) Stock Price Forecast: AI Forecasts GLW Stock Price To Be Around $37.6 In A Month (Up 3.2%)
4	Corning Total Shareholder Return (TSR): ...% in 2023 and 0.0% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/28/2025	-3.3%	-2.1%	-6.9%
7/29/2025	11.9%	14.6%	21.6%
4/29/2025	0.8%	3.0%	12.1%
1/29/2025	-2.8%	1.6%	-4.4%
10/29/2024	4.7%	0.4%	3.1%
7/30/2024	-6.9%	-11.5%	-0.4%
4/30/2024	5.0%	5.2%	11.9%
1/30/2024	6.9%	2.8%	3.9%
...
SUMMARY STATS
# Positive	11	12	14
# Negative	13	12	10
Median Positive	3.1%	2.9%	6.7%
Median Negative	-3.3%	-2.5%	-4.6%
Max Positive	11.9%	19.5%	21.6%
Max Negative	-6.9%	-11.5%	-13.4%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10312025	10-Q 9/30/2025
6302025	8012025	10-Q 6/30/2025
3312025	5022025	10-Q 3/31/2025
12312024	2132025	10-K 12/31/2024
9302024	11012024	10-Q 9/30/2024
6302024	8022024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2122024	10-K 12/31/2023
9302023	10302023	10-Q 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	4282023	10-Q 3/31/2023
12312022	2132023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7292022	10-Q 6/30/2022
3312022	4292022	10-Q 3/31/2022
12312021	2142022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	STEVERSON LEWIS A	Vice Chairman, EVP and CLAO	11032025	Sell	89.05	23,142	2,060,765	1,565,031	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Corning (GLW)

Market Price (12/20/2025): $88.8 | Market Cap: $76.0 BilSector: Information Technology | Industry: Electronic Components

Corning (GLW)

Market Price (12/20/2025): $88.8Market Cap: $76.0 BilSector: Information TechnologyIndustry: Electronic Components

Valuation, Metrics & Events

GLW Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Corning (GLW)

Display Technologies

Optical Communications

Environmental Technologies

Specialty Materials

Life Sciences

Share Repurchases

Inbound Investments

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Corning (GLW)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Corning

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (12/20/2025): $88.8 | Market Cap: $76.0 Bil
Sector: Information Technology | Industry: Electronic Components

Market Price (12/20/2025): $88.8
Market Cap: $76.0 Bil
Sector: Information Technology
Industry: Electronic Components