Investment Thesis
Corning demonstrates solid fundamental strength with robust revenue growth of 19.1% YoY and healthy profitability margins (36% gross, 14.6% operating). Strong free cash flow generation of $1.7B provides financial flexibility, though net income declined 8.4% YoY despite revenue growth, warranting closer attention to operational efficiency.
GLW Strengths
- Strong revenue growth of 19.1% YoY indicates robust market demand and business expansion
- Solid free cash flow generation of $1.7B with 10.9% FCF margin demonstrates cash conversion efficiency
- Healthy balance sheet with manageable leverage (0.65x Debt/Equity) and adequate liquidity (1.59x current ratio)
- Respectable profitability with 36% gross margin and 13.5% ROE showing effective capital deployment
GLW Risks
- Net income declined 8.4% YoY despite strong revenue growth, suggesting margin compression or one-time charges requiring investigation
- High insider trading activity (60 Form 4 filings in 90 days) may indicate uncertainty or hedging behavior among management
- Significant capital expenditure needs ($986M annually) could limit dividend capacity and future flexibility
- Long-term debt of $7.6B represents meaningful financial obligations despite acceptable leverage ratios
Key Metrics to Watch
- Net margin trend and operating leverage as revenues scale
- Operating cash flow sustainability and capital intensity ratio
- Debt reduction trajectory and interest coverage ratio when interest rate environment shifts
- Gross margin preservation amid potential cost inflation or competitive pressures
GLW Financial Metrics
GLW Profitability Ratios
GLW Balance Sheet & Liquidity
GLW 5-Year Financial Trend
5-Year Trend Summary: CORNING INC /NY's revenue has grown significantly by 11% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.68 reflects profitable operations.
GLW Growth Metrics (YoY)
GLW Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $3.4B | -$117.0M | $-0.14 |
| Q2 2025 | $3.3B | $104.0M | $0.12 |
| Q1 2025 | $3.0B | $157.0M | $0.18 |
| Q3 2024 | $3.2B | -$117.0M | $-0.14 |
| Q2 2024 | $3.2B | $104.0M | $0.12 |
| Q1 2024 | $3.0B | $176.0M | $0.20 |
| Q3 2023 | $3.2B | $164.0M | $0.19 |
| Q2 2023 | $3.2B | $281.0M | $0.33 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
GLW Capital Allocation
GLW SEC Filings
Access official SEC EDGAR filings for CORNING INC /NY (CIK: 0000024741)