CORNING INC (GLW) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:GLW - US2193501051 - Common Stock
79.46 USD
+1.43 (+1.83%)
79.99 USD
+0.53 (+0.67%)
Overall GLW gets a fundamental rating of 5 out of 10. We evaluated GLW against 123 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 showing excellent growth while it is valued at reasonable prices. Keep and eye on this one!
1. Profitability
1.1 Basic Checks
In the past year GLW was profitable.
GLW had a positive operating cash flow in the past year.
GLW had positive earnings in each of the past 5 years.
In the past 5 years GLW always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 4.57%, GLW is doing good in the industry, outperforming 67.48% of the companies in the same industry.
With a decent Return On Equity value of 11.84%, GLW is doing good in the industry, outperforming 78.86% of the companies in the same industry.
GLW's Return On Invested Capital of 6.25% is fine compared to the rest of the industry. GLW outperforms 64.23% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GLW is significantly below the industry average of 9.11%.
The last Return On Invested Capital (6.25%) for GLW is above the 3 year average (3.70%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.57% | ||
| ROE | 11.84% | ||
| ROIC | 6.25% |
ROA(3y)2.77%
ROA(5y)2.65%
ROE(3y)6.91%
ROE(5y)6.52%
ROIC(3y)3.7%
ROIC(5y)3.77%
1.3 Margins
GLW's Profit Margin of 9.16% is fine compared to the rest of the industry. GLW outperforms 76.42% of its industry peers.
GLW's Profit Margin has declined in the last couple of years.
With an excellent Operating Margin value of 13.41%, GLW belongs to the best of the industry, outperforming 82.11% of the companies in the same industry.
In the last couple of years the Operating Margin of GLW has declined.
GLW has a Gross Margin of 35.69%. This is comparable to the rest of the industry: GLW outperforms 56.91% of its industry peers.
In the last couple of years the Gross Margin of GLW has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.41% | ||
| PM (TTM) | 9.16% | ||
| GM | 35.69% |
OM growth 3Y-16.75%
OM growth 5Y-5.29%
PM growth 3Y-20.45%
PM growth 5Y-12.44%
GM growth 3Y-3.21%
GM growth 5Y-1.46%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GLW is destroying value.
GLW has less shares outstanding than it did 1 year ago.
The number of shares outstanding for GLW has been increased compared to 5 years ago.
Compared to 1 year ago, GLW has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 3.83 indicates that GLW is not in any danger for bankruptcy at the moment.
GLW has a Altman-Z score of 3.83. This is in the better half of the industry: GLW outperforms 61.79% of its industry peers.
GLW has a debt to FCF ratio of 7.07. This is a slightly negative value and a sign of low solvency as GLW would need 7.07 years to pay back of all of its debts.
With a Debt to FCF ratio value of 7.07, GLW perfoms like the industry average, outperforming 56.10% of the companies in the same industry.
A Debt/Equity ratio of 0.64 indicates that GLW is somewhat dependend on debt financing.
GLW has a worse Debt to Equity ratio (0.64) than 78.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.07 | ||
| Altman-Z | 3.83 |
ROIC/WACC0.69
WACC9.03%
2.3 Liquidity
GLW has a Current Ratio of 1.56. This is a normal value and indicates that GLW is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.56, GLW is not doing good in the industry: 73.98% of the companies in the same industry are doing better.
A Quick Ratio of 1.00 indicates that GLW may have some problems paying its short term obligations.
GLW's Quick ratio of 1.00 is on the low side compared to the rest of the industry. GLW is outperformed by 78.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.56 | ||
| Quick Ratio | 1 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 33.71% over the past year.
The Earnings Per Share has been growing slightly by 2.29% on average over the past years.
The Revenue has grown by 18.27% in the past year. This is quite good.
The Revenue has been growing slightly by 2.66% on average over the past years.
EPS 1Y (TTM)33.71%
EPS 3Y-1.96%
EPS 5Y2.29%
EPS Q2Q%24.07%
Revenue 1Y (TTM)18.27%
Revenue growth 3Y-2.34%
Revenue growth 5Y2.66%
Sales Q2Q%14.44%
3.2 Future
GLW is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.01% yearly.
Based on estimates for the next years, GLW will show a quite strong growth in Revenue. The Revenue will grow by 11.65% on average per year.
EPS Next Y29.85%
EPS Next 2Y25.33%
EPS Next 3Y22.85%
EPS Next 5Y20.01%
Revenue Next Year13.89%
Revenue Next 2Y12.64%
Revenue Next 3Y11.65%
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
A Price/Earnings ratio of 33.39 indicates a quite expensive valuation of GLW.
GLW's Price/Earnings ratio is a bit cheaper when compared to the industry. GLW is cheaper than 60.98% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 25.47. GLW is valued slightly more expensive when compared to this.
With a Price/Forward Earnings ratio of 25.81, GLW can be considered very expensive at the moment.
GLW's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of GLW to the average of the S&P500 Index (34.42), we can say GLW is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.39 | ||
| Fwd PE | 25.81 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GLW is on the same level as its industry peers.
GLW's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 58.58 | ||
| EV/EBITDA | 22.41 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of GLW may justify a higher PE ratio.
GLW's earnings are expected to grow with 22.85% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.12
PEG (5Y)14.56
EPS Next 2Y25.33%
EPS Next 3Y22.85%
5. Dividend
5.1 Amount
GLW has a Yearly Dividend Yield of 1.44%.
GLW's Dividend Yield is rather good when compared to the industry average which is at 2.45. GLW pays more dividend than 90.24% of the companies in the same industry.
With a Dividend Yield of 1.44, GLW pays less dividend than the S&P500 average, which is at 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.44% |
5.2 History
The dividend of GLW has a limited annual growth rate of 4.75%.
GLW has been paying a dividend for at least 10 years, so it has a reliable track record.
GLW has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)4.75%
Div Incr Years0
Div Non Decr Years17
5.3 Sustainability
GLW pays out 72.69% 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.
DP72.69%
EPS Next 2Y25.33%
EPS Next 3Y22.85%
79.46
+1.43 (+1.83%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners74.27%
Inst Owner Change2.04%
Ins Owners0.18%
Ins Owner Change-0.59%
Market Cap68.07B
Revenue(TTM)14.91B
Net Income(TTM)1.37B
Analysts82.11
Price Target95.35 (20%)
Short Float %1.79%
Short Ratio1.73
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.44% |
Yearly Dividend1.21
Dividend Growth(5Y)4.75%
DP72.69%
Div Incr Years0
Div Non Decr Years17
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.14%
Min EPS beat(2)-0.04%
Max EPS beat(2)4.32%
EPS beat(4)3
Avg EPS beat(4)2.72%
Min EPS beat(4)-0.04%
Max EPS beat(4)5.64%
EPS beat(8)6
Avg EPS beat(8)2.26%
EPS beat(12)8
Avg EPS beat(12)1.72%
EPS beat(16)10
Avg EPS beat(16)1.88%
Revenue beat(2)2
Avg Revenue beat(2)1.97%
Min Revenue beat(2)0.07%
Max Revenue beat(2)3.88%
Revenue beat(4)3
Avg Revenue beat(4)1.46%
Min Revenue beat(4)-0.03%
Max Revenue beat(4)3.88%
Revenue beat(8)5
Avg Revenue beat(8)1.13%
Revenue beat(12)5
Avg Revenue beat(12)-0.42%
Revenue beat(16)7
Avg Revenue beat(16)-0.75%
PT rev (1m)24.06%
PT rev (3m)36.58%
EPS NQ rev (1m)4.25%
EPS NQ rev (3m)5.05%
EPS NY rev (1m)1.38%
EPS NY rev (3m)1.85%
Revenue NQ rev (1m)2.05%
Revenue NQ rev (3m)2.79%
Revenue NY rev (1m)0.87%
Revenue NY rev (3m)1.16%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.39 | ||
| Fwd PE | 25.81 | ||
| P/S | 4.56 | ||
| P/FCF | 58.58 | ||
| P/OCF | 30.04 | ||
| P/B | 5.9 | ||
| P/tB | 8.14 | ||
| EV/EBITDA | 22.41 |
EPS(TTM)2.38
EY3%
EPS(NY)3.08
Fwd EY3.87%
FCF(TTM)1.36
FCFY1.71%
OCF(TTM)2.65
OCFY3.33%
SpS17.41
BVpS13.47
TBVpS9.76
PEG (NY)1.12
PEG (5Y)14.56
Graham Number26.85
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.57% | ||
| ROE | 11.84% | ||
| ROCE | 8.22% | ||
| ROIC | 6.25% | ||
| ROICexc | 6.71% | ||
| ROICexgc | 7.8% | ||
| OM | 13.41% | ||
| PM (TTM) | 9.16% | ||
| GM | 35.69% | ||
| FCFM | 7.79% |
ROA(3y)2.77%
ROA(5y)2.65%
ROE(3y)6.91%
ROE(5y)6.52%
ROIC(3y)3.7%
ROIC(5y)3.77%
ROICexc(3y)3.99%
ROICexc(5y)4.1%
ROICexgc(3y)4.68%
ROICexgc(5y)4.83%
ROCE(3y)4.86%
ROCE(5y)4.96%
ROICexgc growth 3Y-16.21%
ROICexgc growth 5Y-0.8%
ROICexc growth 3Y-16.02%
ROICexc growth 5Y-1.08%
OM growth 3Y-16.75%
OM growth 5Y-5.29%
PM growth 3Y-20.45%
PM growth 5Y-12.44%
GM growth 3Y-3.21%
GM growth 5Y-1.46%
F-Score8
Asset Turnover0.5
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.07 | ||
| Debt/EBITDA | 2.22 | ||
| Cap/Depr | 82.95% | ||
| Cap/Sales | 7.4% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 68.03% | ||
| Profit Quality | 85.07% | ||
| Current Ratio | 1.56 | ||
| Quick Ratio | 1 | ||
| Altman-Z | 3.83 |
F-Score8
WACC9.03%
ROIC/WACC0.69
Cap/Depr(3y)94.49%
Cap/Depr(5y)96.92%
Cap/Sales(3y)9.9%
Cap/Sales(5y)10.7%
Profit Quality(3y)125.06%
Profit Quality(5y)146.73%
High Growth Momentum
Growth
EPS 1Y (TTM)33.71%
EPS 3Y-1.96%
EPS 5Y2.29%
EPS Q2Q%24.07%
EPS Next Y29.85%
EPS Next 2Y25.33%
EPS Next 3Y22.85%
EPS Next 5Y20.01%
Revenue 1Y (TTM)18.27%
Revenue growth 3Y-2.34%
Revenue growth 5Y2.66%
Sales Q2Q%14.44%
Revenue Next Year13.89%
Revenue Next 2Y12.64%
Revenue Next 3Y11.65%
Revenue Next 5YN/A
EBIT growth 1Y143.9%
EBIT growth 3Y-18.7%
EBIT growth 5Y-2.77%
EBIT Next Year88.17%
EBIT Next 3Y32%
EBIT Next 5Y27.56%
FCF growth 1Y194.18%
FCF growth 3Y-18.13%
FCF growth 5Y85.79%
OCF growth 1Y18.7%
OCF growth 3Y-17.17%
OCF growth 5Y-0.92%
CORNING INC / GLW FAQ
What is the ChartMill fundamental rating of CORNING INC (GLW) stock?
ChartMill assigns a fundamental rating of 5 / 10 to GLW.
Can you provide the valuation status for CORNING INC?
ChartMill assigns a valuation rating of 4 / 10 to CORNING INC (GLW). This can be considered as Fairly Valued.
How profitable is CORNING INC (GLW) stock?
CORNING INC (GLW) has a profitability rating of 6 / 10.
Can you provide the PE and PB ratios for GLW stock?
The Price/Earnings (PE) ratio for CORNING INC (GLW) is 33.39 and the Price/Book (PB) ratio is 5.9.
Is the dividend of CORNING INC sustainable?
The dividend rating of CORNING INC (GLW) is 6 / 10 and the dividend payout ratio is 72.69%.