Corning Inc

Industrials
Telecommunications Equipment
www.corning.com

Earnings Score
Moat Score

Market Cap $42.27B
PE 271
Debt $7.41B
Cash $1.61B
EV $48.07B
FCF $NaN

Earnings

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Sales & Net Margins

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Earnings	$156.00M
EBIT	$778.00M
ROE	1%
ROA	3%
Equity	$11.47B
Growth Stability	-25%
PE	270.99
PEG	42.5
PB	3.69
P/S	3.35
Price/Cash	0.04
Debt/Equity	0.65
Net Margins	2%
Gross Margins	32%
Op. Margins	6%
Earnings CAGR	-12%
Sales Growth YoY	7%
Sales Growth QoQ	4%
Sales CAGR	5%
FCF CAGR	-1%
Equity CAGR	-6%
Earnings Stability	0.19
Earnings Growth YoY	-171%
Earnings Growth QoQ	-213%

Earnings CAGR 5Y	6%
Sales CAGR 5Y	3%
FCF CAGR 5Y	1%
Equity CAGR 5Y	-3%
Earnings CAGR 3Y	-6%
Sales CAGR 3Y	-6%
Equity CAGR 3Y	-4%
Market Cap	$42.27B
Revenue	$12.61B
Assets	$28.32B
Total Debt	$7.41B
Cash	$1.61B
Shares Outstanding	853M
EV	48.07B
Earnings Score	4%
Moat Score	35%
Working Capital	3.04B
Current Ratio	1.66
Gross Profit	$3.99B
Shares Growth 3y	1%
Equity Growth QoQ	5%
Equity Growth YoY	-2%

Assets & ROA

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Stockholders Equity & ROE

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Corning Inc is a leader in materials science, specializing in the production of glass, ceramics and optical fiber. The firm supplies its products for a wide range of applications, from flat-panel displays in televisions to gasoline particulate filters in automobiles to optical fiber for broadband access, with a leading share in many of its end markets.

SEC Filings

Direct access to Corning Inc (GLW) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Corning Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Corning Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -12%

Stability 19%

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Corning Inc Discounted Cash Flow

Fully customizable DCF calculator online for Corning Inc .

Years

Calculation mode

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
DCF		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Value	$0

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	24%	14%	38%	-6%	9%	7%	4%	8%	9%	5%	2%
ROA	-	5%	13%	6%	6%	5%	2%	8%	6%	3%	3%
ROE	-	7%	20%	-4%	7%	7%	3%	9%	11%	5%	1%

Bad Net Margins (2.04%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.84	2.96	27.54	8.87	146.25	-	-	-	-	-
Debt over Equity	0.15	0.24	0.23	0.35	0.43	0.6	0.6	0.57	0.58	0.66	0.65
Growth Stability	-	-	-	-25%	68%	65%	100%	100%	100%	62%	-25%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.65)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-25%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-6%	3%	8%	12%	2%	-2%	25%	1%	-11%	3%
Earnings YoY growth	-	-48%	190%	-117%	-263%	-11%	-52%	161%	22%	-56%	6%
Equity YoY growth	-	-13%	-5%	-12%	-12%	-6%	3%	-7%	-2%	-3%	-3%
FCF YoY growth	-	-57%	-11%	-86%	239%	-92%	-	-	-	-	1%