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Corning Inc GLW

Morningstar Rating
$32.97 −0.06 (0.18%)
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Company Report

Narrow-Moat Corning Is Set Up for Growth and Operating Leverage Across Diverse End Markets

Corning is a materials science behemoth with differentiated glass products for televisions, notebooks, mobile devices, wearables, optical fiber, cars, and pharmaceutical packaging. In its 170 years of operation, the company has constantly innovated (including inventing glass optical fiber and ceramic substrates for catalytic converters) and oriented itself toward evolving demand trends that it can serve through its core competency of materials science. Most recently, we point to Corning’s domination of the smartphone cover glass market and deals with U.S. network carriers to supply fiber for 5G buildouts as evidence of the pivot toward growth.

Price vs Fair Value

GLW is trading at a 7% discount.
Price
$32.47
Fair Value
$54.00
Uncertainty
Medium
1-Star Price
$58.13
5-Star Price
$89.90
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Corning boasts a leading share in four distinct end markets: display glass, optical fiber, cover glass, and emissions substrates/filters.

Bears

Corning operates in highly capital-intensive markets that limit its free cash flow conversion.

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News

Trading Information

Previous Close Price
$33.03
Day Range
$32.8933.32
52-Week Range
$25.2736.02
Bid/Ask
$32.97 / $32.98
Market Cap
$28.19 Bil
Volume/Avg
1.3 Mil / 4.5 Mil

Key Statistics

Price/Earnings (Normalized)
19.42
Price/Sales
2.25
Dividend Yield (Trailing)
3.39%
Dividend Yield (Forward)
3.39%
Total Yield
3.39%

Company Profile

Corning 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.
Sector
Technology
Industry
Electronic Components
Stock Style Box
Mid Value
Total Number of Employees
49,800

Competitors

Valuation

Metric
GLW
2317
APH
Price/Earnings (Normalized)
19.4215.8138.31
Price/Book Value
2.441.448.27
Price/Sales
2.250.365.70
Price/Cash Flow
13.1112.6229.98
Price/Earnings
GLW
2317
APH

Financial Strength

Metric
GLW
2317
APH
Quick Ratio
0.781.201.36
Current Ratio
1.671.592.17
Interest Coverage
3.362.6918.60
Quick Ratio
GLW
2317
APH

Profitability

Metric
GLW
2317
APH
Return on Assets (Normalized)
5.09%3.88%11.95%
Return on Equity (Normalized)
12.54%10.51%24.58%
Return on Invested Capital (Normalized)
8.39%5.35%16.36%
Return on Assets
GLW
2317
APH
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