Tearsheet

Corning (GLW)


Market Price (10/21/2025): $85.28 | Market Cap: $72.9 Bil
Sector: Information Technology | Industry: Electronic Components

Corning (GLW)


Market Price (10/21/2025): $85.28
Market Cap: $72.9 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 2.2 Bil
Trading close to highs
Dist 52W High is -2.2%, Dist 3Y High is -2.2%
Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 89x
1 Low stock price volatility
Vol 12M is 33%
  Stock price has recently run up significantly
6M Rtn6 month market price return is 112%
2   Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1%
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, CFO LTM is 2.2 Bil
1 Low stock price volatility
Vol 12M is 33%
2 Trading close to highs
Dist 52W High is -2.2%, Dist 3Y High is -2.2%
3 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 89x
4 Stock price has recently run up significantly
6M Rtn6 month market price return is 112%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1%

Market Valuation & Key Metrics

GLW Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
GLW Return28%6%-12%-1%61%82%242%
Peers Return15%33%-15%-15%32%50%120%
S&P 500 Return16%27%-19%24%23%15%106%

Monthly Win Rates [3]
GLW Win Rate50%50%42%42%92%67% 
Peers Win Rate50%71%42%54%50%44% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
GLW Max Drawdown-38%-3%-20%-15%-2%-17% 
Peers Max Drawdown-38%-11%-32%-34%-21%-28% 
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, EIL. 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 10/20/2025 (YTD)

Downturns Compared

Unique KeyEventGLWS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-42.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven73.9%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven348 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-41.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven71.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven126 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-25.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven33.5%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven447 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-71.8%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven255.1%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven3023 days1480 days


How Low Can It Go?

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.

Better Bets than Corning (GLW)

Latest Trefis Analyses

Trade Ideas

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

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-5.5%-5.5%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
2.6%2.6%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
9.1%9.1%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | 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
13.6%13.6%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
1.2%1.2%-0.3%
GLW_9302022_Dip_Buyer_FCFYield09302022GLWCorningDip BuyDB | 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 KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-5.5%-5.5%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
2.6%2.6%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
9.1%9.1%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | 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
13.6%13.6%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
1.2%1.2%-0.3%
GLW_9302022_Dip_Buyer_FCFYield09302022GLWCorningDip BuyDB | 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

Recent Active Movers

More From Trefis

Peer Comparisons for Corning

Financials

GLWTMODHRBDCCOMMEILMedian
NameCorning Thermo F.Danaher Belden CommScopeE I L  
Mkt Price85.28543.84208.39115.5615.70-115.56
Mkt Cap72.9205.6149.34.63.4-72.9
Rev LTM14,20643,21124,0132,5504,752-14,206
Op Inc LTM1,7137,8604,417286586-1,713
FCF LTM1,1946,1704,862220248-1,194
FCF 3Y Avg7966,6625,733215200-796
CFO LTM2,1817,5786,169357290-2,181
CFO 3Y Avg2,0428,2067,013339253-2,042

Growth & Margins

GLWTMODHRBDCCOMMEILMedian
NameCorning Thermo F.Danaher Belden CommScopeE I L  
Rev Chg LTM14.6%2.0%1.9%6.0%20.9%-6.0%
Rev Chg 3Y Avg-0.3%0.3%-2.6%2.3%-9.2%--0.3%
Rev Chg Q18.8%3.0%3.4%16.6%31.7%-16.6%
QoQ Delta Rev Chg LTM4.5%0.7%0.8%3.6%7.6%-3.6%
Op Mgn LTM12.1%18.2%18.4%11.2%12.3%-12.3%
Op Mgn 3Y Avg8.4%17.4%21.6%11.8%7.8%-11.8%
QoQ Delta Op Mgn LTM2.3%-0.1%-1.9%0.4%2.3%-0.4%
CFO/Rev LTM15.4%17.5%25.7%14.0%6.1%-15.4%
CFO/Rev 3Y Avg15.4%19.1%29.9%13.5%5.6%-15.4%
FCF/Rev LTM8.4%14.3%20.2%8.6%5.2%-8.6%
FCF/Rev 3Y Avg6.0%15.5%24.4%8.5%4.4%-8.5%

Valuation

GLWTMODHRBDCCOMMEILMedian
NameCorning Thermo F.Danaher Belden CommScopeE I L  
Mkt Cap72.9205.6149.34.63.4-72.9
P/S5.14.86.21.80.7-4.8
P/EBIT48.724.534.216.35.9-24.5
P/E89.031.243.721.84.2-31.2
P/CFO33.427.124.213.011.8-24.2
Total Yield2.5%3.2%2.3%4.7%23.8%-3.2%
Dividend Yield1.4%0.0%0.0%0.1%0.0%-0.0%
FCF Yield 3Y Avg2.1%3.6%3.4%5.2%18.7%-3.6%
D/E0.10.20.10.32.1-0.2
Net D/E0.10.10.10.22.0-0.1

Returns

GLWTMODHRBDCCOMMEILMedian
NameCorning Thermo F.Danaher Belden CommScopeE I L  
1M Rtn7.2%13.4%7.8%-11.3%-4.6%-7.2%
3M Rtn58.9%34.4%11.0%-9.4%100.0%-34.4%
6M Rtn111.6%29.2%13.0%25.4%419.9%-29.2%
12M Rtn86.7%-9.3%-23.6%-3.4%159.5%--3.4%
3Y Rtn189.3%10.4%-2.7%79.9%27.5%-27.5%
1M Excs Rtn6.1%12.3%6.8%-12.4%-5.6%-6.1%
3M Excs Rtn51.8%20.5%3.2%-16.0%100.1%-20.5%
6M Excs Rtn81.0%-1.4%-17.5%-5.1%389.3%--1.4%
12M Excs Rtn74.1%-23.0%-37.1%-19.2%158.2%--19.2%
3Y Excs Rtn121.0%-76.1%-91.0%3.6%-42.7%--42.7%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Optical Communications4,0125,0234,3493,5634,064
Display3,5323,3063,7003,1723,254
Specialty Materials1,8652,0022,0081,8841,594
Automotive1,7661,5841,5861,3701,499
Hemlock and Emerging Growth Businesses1,4461,6621,243465230
Life Sciences9591,2281,2349981,015
Impact of constant-currency reporting-992-616-38-44-153
Cumulative adjustment related to customer contract   -105 
Total12,58814,18914,08211,30311,503


Net Income by Segment
$ Mil20242023202220212020
Display842769960717786
Optical Communications478661553366489
Automotive386292269197263
Specialty Materials202340371423302
Life Sciences50153194139150
Hemlock and Emerging Growth Businesses1539-51-214-289
Total1,9732,2542,2961,6281,701


Assets by Segment
$ Mil20242023202220212020
Display7,8998,1048,6728,7779,022
Other non-current assets6,2436,3156,3636,5945,764
Optical Communications3,2413,2953,1832,8683,004
Current assets2,5222,8233,1633,4343,301
Specialty Materials2,4762,4192,3282,5512,433
Hemlock and Emerging Growth Businesses2,3072,1362,0242,1571,028
Automotive1,8732,0612,1501,9861,912
Property, plant and equipment, net1,0381,3851,4261,5481,764
Life Sciences782862791683627
Investments119995417743
Total28,50029,49930,15430,77528,898


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity13,865,265
Short Interest: % Change Since 9152025-20.7%
Average Daily Volume8,799,069
Days-to-Cover Short Interest1.58
Basic Shares Quantity855,000,000
Short % of Basic Shares1.6%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/29/202511.9%14.6%22.1%
4/29/20250.8%3.0%12.1%
1/29/2025-2.8%1.6%-4.4%
10/29/20244.7%0.4%3.1%
7/30/2024-6.9%-11.5%-0.4%
4/30/20245.0%5.2%11.9%
1/30/20246.9%2.8%3.9%
10/24/2023-0.3%-1.0%5.4%
...
SUMMARY STATS   
# Positive111214
# Negative131210
Median Positive3.1%2.9%6.7%
Median Negative-2.8%-2.5%-4.3%
Max Positive11.9%19.5%22.1%
Max Negative-6.9%-11.5%-13.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025801202510-Q 6/30/2025
3312025502202510-Q 3/31/2025
12312024213202510-K 12/31/2024
93020241101202410-Q 9/30/2024
6302024802202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023212202410-K 12/31/2023
93020231030202310-Q 9/30/2023
6302023727202310-Q 6/30/2023
3312023428202310-Q 3/31/2023
12312022213202310-K 12/31/2022
93020221027202210-Q 9/30/2022
6302022729202210-Q 6/30/2022
3312022429202210-Q 3/31/2022
12312021214202210-K 12/31/2021
93020211029202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Musser Eric SPresident9042025Sell70.2320,0001,404,62410,160,348Form
1WEEKS WENDELL PChairman and CEO8082025Sell65.1982,1035,351,93352,754,380Form
2Musser Eric SPresident8082025Sell65.8820,0001,317,57610,746,809Form
3Verkleeren Ronald LSVP Emerging Innovations Group6122025Sell50.5220,0001,010,4062,742,646Form
4Musser Eric SPresident and COO6102025Sell51.1120,0001,022,2849,360,543Form