CORNING INC (GLW)
US2193501051 - Common Stock
GLW gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 128 industry peers in the Electronic Equipment, Instruments & Components industry. There are concerns on the financial health of GLW while its profitability can be described as average. GLW is valied quite expensively at the moment, while it does show a decent growth rate. Finally GLW also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year GLW was profitable.
GLW had a positive operating cash flow in the past year.
In the past 5 years GLW has always been profitable.
Each year in the past 5 years GLW had a positive operating cash flow.
1.2 Ratios
GLW has a Return On Assets (2.22%) which is comparable to the rest of the industry.
GLW has a Return On Equity (5.47%) which is comparable to the rest of the industry.
GLW has a Return On Invested Capital (2.83%) which is comparable to the rest of the industry.
GLW had an Average Return On Invested Capital over the past 3 years of 4.68%. This is below the industry average of 8.95%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.22% | ||
| ROE | 5.47% | ||
| ROIC | 2.83% |
ROA(3y)3.36%
ROA(5y)2.88%
ROE(3y)8.25%
ROE(5y)6.91%
ROIC(3y)4.68%
ROIC(5y)3.91%
1.3 Margins
GLW has a better Profit Margin (4.96%) than 68.25% of its industry peers.
In the last couple of years the Profit Margin of GLW has declined.
Looking at the Operating Margin, with a value of 6.84%, GLW is in the better half of the industry, outperforming 73.81% of the companies in the same industry.
GLW's Operating Margin has declined in the last couple of years.
GLW has a Gross Margin of 31.66%. This is comparable to the rest of the industry: GLW outperforms 54.76% of its industry peers.
GLW's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.84% | ||
| PM (TTM) | 4.96% | ||
| GM | 31.66% |
OM growth 3Y16.23%
OM growth 5Y-12.91%
PM growth 3Y8.01%
PM growth 5Y-11.65%
GM growth 3Y-0.01%
GM growth 5Y-4.6%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GLW is destroying value.
Compared to 1 year ago, GLW has less shares outstanding
The number of shares outstanding for GLW has been increased compared to 5 years ago.
The debt/assets ratio for GLW is higher compared to a year ago.
2.2 Solvency
GLW has an Altman-Z score of 2.66. This is not the best score and indicates that GLW is in the grey zone with still only limited risk for bankruptcy at the moment.
GLW has a Altman-Z score (2.66) which is in line with its industry peers.
The Debt to FCF ratio of GLW is 8.28, which is on the high side as it means it would take GLW, 8.28 years of fcf income to pay off all of its debts.
GLW's Debt to FCF ratio of 8.28 is in line compared to the rest of the industry. GLW outperforms 50.79% of its industry peers.
GLW has a Debt/Equity ratio of 0.63. This is a neutral value indicating GLW is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.63, GLW is not doing good in the industry: 80.16% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | 8.28 | ||
| Altman-Z | 2.66 |
ROIC/WACC0.32
WACC8.89%
2.3 Liquidity
GLW has a Current Ratio of 1.67. This is a normal value and indicates that GLW is financially healthy and should not expect problems in meeting its short term obligations.
GLW has a worse Current ratio (1.67) than 70.63% of its industry peers.
GLW has a Quick Ratio of 1.02. This is a normal value and indicates that GLW is financially healthy and should not expect problems in meeting its short term obligations.
GLW has a worse Quick ratio (1.02) than 79.37% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.67 | ||
| Quick Ratio | 1.02 |
3. Growth
3.1 Past
The earnings per share for GLW have decreased strongly by -14.80% in the last year.
The Earnings Per Share has been decreasing by -1.03% on average over the past years.
GLW shows a decrease in Revenue. In the last year, the revenue decreased by -9.51%.
Measured over the past years, GLW shows a small growth in Revenue. The Revenue has been growing by 2.20% on average per year.
EPS 1Y (TTM)-14.8%
EPS 3Y6.69%
EPS 5Y-1.03%
EPS Q2Q%-7.32%
Revenue 1Y (TTM)-9.51%
Revenue growth 3Y3.65%
Revenue growth 5Y2.2%
Sales Q2Q%2.52%
3.2 Future
The Earnings Per Share is expected to grow by 14.20% on average over the next years. This is quite good.
Based on estimates for the next years, GLW will show a small growth in Revenue. The Revenue will grow by 4.67% on average per year.
EPS Next Y11.77%
EPS Next 2Y13.91%
EPS Next 3Y11.2%
EPS Next 5Y14.2%
Revenue Next Year2.92%
Revenue Next 2Y4.38%
Revenue Next 3Y4.67%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 22.31, GLW is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of GLW indicates a somewhat cheap valuation: GLW is cheaper than 69.05% of the companies listed in the same industry.
GLW's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.05.
Based on the Price/Forward Earnings ratio of 16.89, the valuation of GLW can be described as correct.
Based on the Price/Forward Earnings ratio, GLW is valued a bit cheaper than the industry average as 73.02% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of GLW to the average of the S&P500 Index (20.07), we can say GLW is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.31 | ||
| Fwd PE | 16.89 |
4.2 Price Multiples
61.90% of the companies in the same industry are more expensive than GLW, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of GLW is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 35.86 | ||
| EV/EBITDA | 17.03 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates GLW does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)1.9
PEG (5Y)N/A
EPS Next 2Y13.91%
EPS Next 3Y11.2%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.03%, GLW has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 1.67, GLW pays a better dividend. On top of this GLW pays more dividend than 97.62% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, GLW pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.03% |
5.2 History
The dividend of GLW is nicely growing with an annual growth rate of 7.66%!
GLW has paid a dividend for at least 10 years, which is a reliable track record.
GLW has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)7.66%
Div Incr Years13
Div Non Decr Years16
5.3 Sustainability
GLW pays out 161.73% of its income as dividend. This is not a sustainable payout ratio.
GLW's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP161.73%
EPS Next 2Y13.91%
EPS Next 3Y11.2%
CORNING INC
NYSE:GLW (5/31/2024, 7:04:01 PM)
After market: 37.39 +0.13 (+0.35%)37.26
+0.3 (+0.81%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap31.92B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.03% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.31 | ||
| Fwd PE | 16.89 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)1.9
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.22% | ||
| ROE | 5.47% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 6.84% | ||
| PM (TTM) | 4.96% | ||
| GM | 31.66% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.45
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.67 | ||
| Quick Ratio | 1.02 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-14.8%
EPS 3Y6.69%
EPS 5Y
EPS Q2Q%
EPS Next Y11.77%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-9.51%
Revenue growth 3Y3.65%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y