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Corning Inc
NYSE:GLW

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Corning Inc Logo
Corning Inc
NYSE:GLW
Watchlist
Price: 32.96 USD -0.18% Market Closed
Updated: Mar 29, 2024

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%.

Key Points:
GLW Intrinsic Value
Base Case
37.32 USD
Undervaluation 12%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Corning Inc

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Fundamental Analysis

Corning Q4 Results Align With Expectations
2023-Q4 Earnings Call

Corning Q4 Results Align With Expectations

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.

Financials

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
Efficiency

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

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
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Fundamental Scores

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.

Positive Gross Profit
Positive Free Cash Flow
Positive Revenue Growth Forecast
Positive 3-Years Revenue Growth
50/100
Profitability
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.

Low D/E
Long-Term Solvency
Short-Term Solvency
Average Altman Z-Score
43/100
Solvency
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

Wall Street analysts forecast GLW stock price to rise over the next 12 months.

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.

Lowest
Price Target
29.29 USD
11% Downside
Average
Price Target
35.39 USD
7% Upside
Highest
Price Target
42 USD
27% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

GLW Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

GLW Price
Corning Inc

1M 1M
+2%
6M 6M
+8%
1Y 1Y
-4%
3Y 3Y
-20%
5Y 5Y
+12%
10Y 10Y
+99%
Annual Price Range
32.96
52w Low
26.59
52w High
35.85
Price Metrics
Average Annual Return 2.98%
Standard Deviation of Annual Returns 14.18%
Max Drawdown -48%
Shares Statistics
Market Capitalization 27B USD
Shares Outstanding 853 473 984
Percentage of Shares Shorted 1.21%

GLW Return Decomposition
Main factors of price return

What is price return decomposition?

GLW News

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Last Important Events
Corning Inc

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Sentiment Analysis
Corning Inc

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Company Profile

Corning Inc Logo
Corning Inc

Country

United States of America

Industry

Electrical Equipment

Market Cap

27B USD

Dividend Yield

3.4%

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

NEW YORK
Corning
1 Riverfront Plz
+16079749000.0
https://www.corning.com/

IPO

1945-05-21

Employees

61 200

Officers

Chairman & CEO
Mr. Wendell P. Weeks
President & COO
Mr. Eric S. Musser
Executive VP & CFO
Mr. Edward A. Schlesinger
Executive VP and Chief Legal & Administrative Officer
Mr. Lewis A. Steverson
Senior VP & CTO
Dr. Jaymin Amin
Senior VP and Chief Digital & Information Officer
Ms. Soumya Seetharam
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Vice President of Investor Relations
Ms. Ann H. S. Nicholson
VP of Global Employee Relations & Chief Compliance Officer
Kevin G. Corliss
Senior VP & Chief Human Resources Officer
Ms. Jordana D. Kammerud
Executive VP & Innovation Officer
Mr. Martin J. Curran
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See Also

Discover More
What is the Intrinsic Value of one GLW stock?

The intrinsic value of one GLW stock under the Base Case scenario is 37.32 USD.

Is GLW stock undervalued or overvalued?

Compared to the current market price of 32.96 USD, Corning Inc is Undervalued by 12%.