Corning (GLW)
Market Price (12/23/2025): $88.38 | Market Cap: $75.7 BilSector: Information Technology | Industry: Electronic Components
Corning (GLW)
Market Price (12/23/2025): $88.38Market Cap: $75.7 BilSector: Information TechnologyIndustry: Electronic Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, CFO LTM is 2.3 Bil | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 60% |
| Low stock price volatilityVol 12M is 36% | Key risksGLW key risks include [1] an over-reliance on its Display Technologies segment for profitability, Show more. |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Advanced Materials, Biotechnology & Genomics, Precision Medicine, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, CFO LTM is 2.3 Bil |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Advanced Materials, Biotechnology & Genomics, Precision Medicine, Show more. |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 60% |
| Key risksGLW key risks include [1] an over-reliance on its Display Technologies segment for profitability, Show more. |
Why The Stock Moved
Qualitative Assessment
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Corning (GLW) stock experienced a positive movement, with various factors contributing to its performance from August 31, 2025, to December 23, 2025. Here are five key points highlighting why Corning's stock moved by 32.3% during this period: 1. Strong Q3 2025 Earnings and Upbeat Guidance: Corning reported Q3 2025 earnings on October 28, 2025, with core sales increasing 14% year-over-year to $4.27 billion and core EPS growing 24% to $0.67, surpassing analyst estimates. The company also provided an optimistic outlook for Q4 2025, projecting continued growth with core sales of approximately $4.35 billion and core EPS in the range of $0.68 to $0.72. This strong financial performance and positive forecast instilled investor confidence. 2. Robust Growth in Optical Communications and AI-Related Demand: The Optical Communications segment was a significant growth driver, with its enterprise sales growing 81% year-over-year in Q2 2025 and 58% in Q3 2025, fueled by strong demand for new Gen AI products. Corning's extensive portfolio for AI data centers is expected to provide a competitive edge and be a major growth driver, with estimated optical communication segment revenue of $6.27 billion in 2025, a 34.7% year-over-year increase. Show moreStock Movement Drivers
Fundamental Drivers
The 12.1% change in GLW stock from 9/22/2025 to 12/22/2025 was primarily driven by a 58.9% change in the company's Net Income Margin (%).| 9222025 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 78.89 | 88.40 | 12.05% |
| 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 | 82.36 | 55.40 | -32.74% |
| Shares Outstanding (Mil) | 855.00 | 856.00 | -0.12% |
| Cumulative Contribution | 12.05% |
Market Drivers
9/22/2025 to 12/22/2025| Return | Correlation | |
|---|---|---|
| GLW | 12.1% | |
| Market (SPY) | 2.7% | 66.5% |
| Sector (XLK) | 2.7% | 71.7% |
Fundamental Drivers
The 71.9% change in GLW stock from 6/23/2025 to 12/22/2025 was primarily driven by a 174.3% change in the company's Net Income Margin (%).| 6232025 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 51.41 | 88.40 | 71.94% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 13595.00 | 14915.00 | 9.71% |
| Net Income Margin (%) | 3.34% | 9.16% | 174.25% |
| P/E Multiple | 96.83 | 55.40 | -42.79% |
| Shares Outstanding (Mil) | 855.00 | 856.00 | -0.12% |
| Cumulative Contribution | 71.94% |
Market Drivers
6/23/2025 to 12/22/2025| Return | Correlation | |
|---|---|---|
| GLW | 71.9% | |
| Market (SPY) | 14.4% | 50.8% |
| Sector (XLK) | 19.7% | 58.3% |
Fundamental Drivers
The 90.4% change in GLW stock from 12/22/2024 to 12/22/2025 was primarily driven by a 640.4% change in the company's Net Income Margin (%).| 12222024 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 46.43 | 88.40 | 90.40% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 12611.00 | 14915.00 | 18.27% |
| Net Income Margin (%) | 1.24% | 9.16% | 640.38% |
| P/E Multiple | 254.16 | 55.40 | -78.20% |
| Shares Outstanding (Mil) | 854.00 | 856.00 | -0.23% |
| Cumulative Contribution | 90.40% |
Market Drivers
12/22/2024 to 12/22/2025| Return | Correlation | |
|---|---|---|
| GLW | 90.4% | |
| Market (SPY) | 16.9% | 67.6% |
| Sector (XLK) | 23.8% | 72.8% |
Fundamental Drivers
The 202.6% change in GLW stock from 12/23/2022 to 12/22/2025 was primarily driven by a 313.6% change in the company's P/E Multiple.| 12232022 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 29.22 | 88.40 | 202.57% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 14459.00 | 14915.00 | 3.15% |
| Net Income Margin (%) | 12.72% | 9.16% | -27.99% |
| P/E Multiple | 13.39 | 55.40 | 313.62% |
| Shares Outstanding (Mil) | 843.00 | 856.00 | -1.54% |
| Cumulative Contribution | 202.50% |
Market Drivers
12/23/2023 to 12/22/2025| Return | Correlation | |
|---|---|---|
| GLW | 206.7% | |
| Market (SPY) | 47.7% | 58.6% |
| Sector (XLK) | 52.9% | 59.9% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GLW Return | 28% | 6% | -12% | -1% | 61% | 88% | 257% |
| Peers Return | � | � | � | � | � | � | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 113% |
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 12/22/2025 (YTD)
How Low Can It Go
| Event | GLW | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -42.5% | -25.4% |
| % Gain to Breakeven | 73.9% | 34.1% |
| Time to Breakeven | 348 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -41.6% | -33.9% |
| % Gain to Breakeven | 71.3% | 51.3% |
| Time to Breakeven | 126 days | 148 days |
| 2018 Correction | ||
| % Loss | -25.1% | -19.8% |
| % Gain to Breakeven | 33.5% | 24.7% |
| Time to Breakeven | 447 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -71.8% | -56.8% |
| % Gain to Breakeven | 255.1% | 131.3% |
| 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.
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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.
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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.
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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.
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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:
- 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:
- 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:
- 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:
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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.
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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.
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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.
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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.
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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.
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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.
Latest Trefis Analyses
| Title | Topic | Date | |
|---|---|---|---|
| DASHBOARDS | |||
| Corning Earnings Notes | |||
| What Is Happening With Corning Stock? | |||
| Corning Stock On Fire: Up 15% With 6-Day Winning Streak | Notification | ||
| Now Is Not The Time To Buy Corning Stock | Buy or Fear | ||
| Amphenol or Corning: Which Stock Has More Upside? | Counter-Intuitive Comparisons | ||
| How Corning Stock Gained 80% | |||
| COHR Beats Corning Stock on Price & Growth | Actionable | ||
| Corning Stock Jump Looks Great, But How Secure Is That Gain? | Return | ||
| GLW Surges 18% In A Single Month: Where Does It Rank Among Competitors? | |||
| Day 11 of Gains Streak for Corning Stock with 17% Return (vs. 68% YTD) [9/16/2025] | Notification | ||
| ARTICLES | |||
| S&P 500 Movers | Winners: LULU, MOS, GE | Losers: AVGO, GLW, ANET | December 12th, 2025 | ||
| 6-Day Rally Sends Corning Stock Up 15% | December 12th, 2025 | ||
| Corning Stock To $66? | December 11th, 2025 | ||
| Amphenol or Corning: Which Stock Has More Upside? | December 11th, 2025 | ||
| Corning Stock To $58? | November 14th, 2025 |
Trade Ideas
Select ideas related to GLW. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 16.1% | 16.1% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 12.0% | 12.0% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 16.7% | 16.7% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 12.8% | 12.8% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 7.8% | 7.8% | 0.0% |
| 09302022 | GLW | Corning | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 23.6% | 8.6% | 0.0% |
Research & Analysis
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Peer Comparisons for Corning
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 119.08 |
| Mkt Cap | 75.7 |
| Rev LTM | 14,915 |
| Op Inc LTM | 2,000 |
| FCF LTM | 1,162 |
| FCF 3Y Avg | 865 |
| CFO LTM | 2,266 |
| CFO 3Y Avg | 2,068 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.4% |
| Rev Chg 3Y Avg | 0.6% |
| Rev Chg Q | 6.6% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Mgn LTM | 14.7% |
| Op Mgn 3Y Avg | 11.5% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 15.2% |
| CFO/Rev 3Y Avg | 15.3% |
| FCF/Rev LTM | 8.0% |
| FCF/Rev 3Y Avg | 8.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 75.7 |
| P/S | 5.0 |
| P/EBIT | 25.7 |
| P/E | 33.1 |
| P/CFO | 25.6 |
| Total Yield | 3.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 6.8% |
| 3M Rtn | 12.1% |
| 6M Rtn | 44.1% |
| 12M Rtn | 10.2% |
| 3Y Rtn | 63.6% |
| 1M Excs Rtn | 5.7% |
| 3M Excs Rtn | 10.1% |
| 6M Excs Rtn | 29.7% |
| 12M Excs Rtn | -5.2% |
| 3Y Excs Rtn | -15.9% |
Comparison Analyses
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 |
| $ 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 |
| $ 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 | $88.40 | |
| Market Cap ($ Bil) | 75.7 | |
| First Trading Date | 12/31/1981 | |
| Distance from 52W High | -7.9% | |
| 50 Days | 200 Days | |
| DMA Price | $85.91 | $63.71 |
| DMA Trend | up | up |
| Distance from DMA | 2.9% | 38.8% |
| 3M | 1YR | |
| Volatility | 38.9% | 36.4% |
| Downside Capture | 169.99 | 105.78 |
| Upside Capture | 204.26 | 153.06 |
| Correlation (SPY) | 66.2% | 67.5% |
GLW Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 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
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 | 88.6% | 21.7% | 14.7% | 67.3% | 6.8% | -0.5% | -16.6% |
| Annualized Volatility | 36.2% | 27.8% | 19.7% | 19.3% | 15.2% | 17.6% | 35.4% |
| Sharpe Ratio | 1.81 | 0.69 | 0.57 | 2.54 | 0.23 | -0.18 | -0.25 |
| Correlation With Other Assets | 72.9% | 67.7% | 11.1% | 30.7% | 37.1% | 29.0% | |
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 | 22.5% | 19.4% | 15.0% | 18.9% | 11.8% | 5.1% | 35.8% |
| Annualized Volatility | 29.0% | 24.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.73 | 0.71 | 0.71 | 0.98 | 0.51 | 0.18 | 0.63 |
| Correlation With Other Assets | 58.2% | 62.3% | 8.0% | 18.9% | 42.2% | 25.2% | |
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 10-Year Data
| Comparison of GLW With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| GLW | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 20.4% | 22.4% | 14.9% | 14.9% | 6.7% | 5.5% | 69.9% |
| Annualized Volatility | 30.4% | 24.2% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.67 | 0.85 | 0.71 | 0.84 | 0.30 | 0.23 | 0.90 |
| Correlation With Other Assets | 65.1% | 70.6% | 1.0% | 25.6% | 51.4% | 16.0% | |
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
Returns Analyses
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 | TransactedValue | Value ofHeld 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
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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