Corning Inc
NYSE:GLW
Intrinsic Value
Corning, Inc. develops and manufactures specialty glass and ceramics. [ Read More ]
The intrinsic value of one GLW stock under the Base Case scenario is 37.32 USD. Compared to the current market price of 32.96 USD, Corning Inc is Undervalued by 12%.
Valuation Backtest
Corning Inc
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Fundamental Analysis
Corning Q4 Results Align With Expectations
2023-Q4 Earnings Call
Corning Incorporated reported fourth quarter 2023 results with sales at $3.3 billion and $0.39 EPS, matching expectations, and produced $0.5 billion in free cash flow. Despite weaker sales, affected by supply chain and macroeconomic issues, gross margin maintained at 37%. Actions taken in 2023 improved free cash flow conversion and profitability significantly, with gross margin up by 330 basis points year-over-year. Corning sees the potential to boost sales by over $3 billion as markets normalize, anticipating the first quarter of 2024 as the lowest for the year but expecting a demand recovery thereafter. The company expects mid-single-digit growth in glass volume at retail for the full year 2024 compared to 2023.
Balance Sheet Decomposition
Corning Inc
Current Assets | 7.2B |
Cash & Short-Term Investments | 1.8B |
Receivables | 1.6B |
Other Current Assets | 3.9B |
Non-Current Assets | 21.3B |
PP&E | 14.6B |
Intangibles | 3.3B |
Other Non-Current Assets | 3.4B |
Current Liabilities | 4.3B |
Accounts Payable | 1.5B |
Accrued Liabilities | 721m |
Other Current Liabilities | 2.1B |
Non-Current Liabilities | 12.6B |
Long-Term Debt | 7.2B |
Other Non-Current Liabilities | 5.4B |
Earnings Waterfall
Corning Inc
Revenue
|
12.6B
USD
|
Cost of Revenue
|
-8.7B
USD
|
Gross Profit
|
3.9B
USD
|
Operating Expenses
|
-3B
USD
|
Operating Income
|
890m
USD
|
Other Expenses
|
-309m
USD
|
Net Income
|
581m
USD
|
Free Cash Flow Analysis
Corning Inc
What is Free Cash Flow?
GLW Profitability Score
Profitability Due Diligence
Corning Inc's profitability score is 50/100. The higher the profitability score, the more profitable the company is.
Score
Corning Inc's profitability score is 50/100. The higher the profitability score, the more profitable the company is.
GLW Solvency Score
Solvency Due Diligence
Corning Inc's solvency score is 43/100. The higher the solvency score, the more solvent the company is.
Score
Corning Inc's solvency score is 43/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
GLW Price Targets Summary
Corning Inc
According to Wall Street analysts, the average 1-year price target for GLW is 35.39 USD with a low forecast of 29.29 USD and a high forecast of 42 USD.
Ownership
GLW Insider Trading
Buy and sell transactions by insiders
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Shareholder Return
GLW Price
Corning Inc
Average Annual Return | 2.98% |
Standard Deviation of Annual Returns | 14.18% |
Max Drawdown | -48% |
Market Capitalization | 27B USD |
Shares Outstanding | 853 473 984 |
Percentage of Shares Shorted | 1.21% |
GLW News
Last Important Events
Corning Inc
Significant happenings or occurrences that are of interest to investors. These could be company-specific developments or market-wide shifts.
Sentiment Analysis
Corning Inc
Company Profile
Country
Industry
Market Cap
Dividend Yield
Description
Corning, Inc. develops and manufactures specialty glass and ceramics. The company is headquartered in Corning, New York and currently employs 61,200 full-time employees. The firm operates through five segments: Display Technologies, Optical Communications, Specialty Materials, Environmental Technologies and Life Sciences. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays and other high-performance display panels. The Optical Communications segment manufactures carrier network and enterprise network components for the telecommunications industry. The Specialty Materials segment manufactures products that provide more than 150 material formulations for glass, glass ceramics and fluoride crystals. The Environmental Technologies segment manufactures ceramic substrates and filters for automotive and diesel applications. The Life Sciences segment manufactures glass and plastic labware, equipment, media, serum and reagents enabling workflow solutions for drug discovery and bioproduction.
Contact
IPO
Employees
Officers
The intrinsic value of one GLW stock under the Base Case scenario is 37.32 USD.
Compared to the current market price of 32.96 USD, Corning Inc is Undervalued by 12%.