CORNING INC (GLW) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:GLW - US2193501051 - Common Stock
89.66 USD
+0.32 (+0.36%)
89.8 USD
+0.14 (+0.16%)
GLW gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 124 industry peers in the Electronic Equipment, Instruments & Components industry. GLW has a medium profitability rating, but doesn't score so well on its financial health evaluation. GLW shows excellent growth, but is valued quite expensive already.
1. Profitability
1.1 Basic Checks
GLW had positive earnings in the past year.
In the past year GLW had a positive cash flow from operations.
Each year in the past 5 years GLW has been profitable.
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 68.55% of the companies in the same industry.
Looking at the Return On Equity, with a value of 11.84%, GLW is in the better half of the industry, outperforming 77.42% of the companies in the same industry.
GLW has a better Return On Invested Capital (6.25%) than 64.52% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GLW is significantly below the industry average of 9.32%.
The 3 year average ROIC (3.70%) for GLW is below the current ROIC(6.25%), indicating increased profibility in the last year.
| 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 has a Profit Margin of 9.16%. This is in the better half of the industry: GLW outperforms 77.42% of its industry peers.
In the last couple of years the Profit Margin of GLW has declined.
GLW has a Operating Margin of 13.41%. This is amongst the best in the industry. GLW outperforms 82.26% of its industry peers.
GLW's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 35.69%, GLW perfoms like the industry average, outperforming 57.26% of the companies in the same industry.
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), GLW is destroying value.
The number of shares outstanding for GLW has been reduced compared to 1 year ago.
The number of shares outstanding for GLW has been increased compared to 5 years ago.
GLW has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 4.11 indicates that GLW is not in any danger for bankruptcy at the moment.
GLW has a Altman-Z score of 4.11. This is in the better half of the industry: GLW outperforms 62.10% 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.
The Debt to FCF ratio of GLW (7.07) is comparable to the rest of the industry.
GLW has a Debt/Equity ratio of 0.64. This is a neutral value indicating GLW is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.64, GLW is doing worse than 79.03% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 7.07 | ||
| Altman-Z | 4.11 |
ROIC/WACC0.72
WACC8.73%
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.
GLW's Current ratio of 1.56 is on the low side compared to the rest of the industry. GLW is outperformed by 73.39% of its industry peers.
GLW has a Quick Ratio of 1.56. This is a bad value and indicates that GLW is not financially healthy enough and could expect problems in meeting 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 79.84% 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.
GLW shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 18.27%.
GLW shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.66% yearly.
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 11.98% on average per year.
EPS Next Y29.85%
EPS Next 2Y25.62%
EPS Next 3Y22.89%
EPS Next 5Y20.01%
Revenue Next Year13.9%
Revenue Next 2Y12.92%
Revenue Next 3Y11.98%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 37.67 indicates a quite expensive valuation of GLW.
Compared to the rest of the industry, the Price/Earnings ratio of GLW is on the same level as its industry peers.
When comparing the Price/Earnings ratio of GLW to the average of the S&P500 Index (26.59), we can say GLW is valued slightly more expensively.
GLW is valuated quite expensively with a Price/Forward Earnings ratio of 28.99.
GLW's Price/Forward Earnings is on the same level as the industry average.
GLW is valuated rather expensively when we compare the Price/Forward Earnings ratio to 24.03, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 37.67 | ||
| Fwd PE | 28.99 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as GLW.
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 | 66.15 | ||
| EV/EBITDA | 25.05 |
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.
A more expensive valuation may be justified as GLW's earnings are expected to grow with 22.89% in the coming years.
PEG (NY)1.26
PEG (5Y)16.43
EPS Next 2Y25.62%
EPS Next 3Y22.89%
5. Dividend
5.1 Amount
GLW has a Yearly Dividend Yield of 1.29%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 0.47, GLW pays a better dividend. On top of this GLW pays more dividend than 91.13% of the companies listed in the same industry.
GLW's Dividend Yield is slightly below the S&P500 average, which is at 1.88.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.29% |
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 their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)4.75%
Div Incr Years0
Div Non Decr Years17
5.3 Sustainability
72.69% of the earnings are spent on dividend by GLW. This is not a sustainable payout ratio.
The dividend of GLW is growing, but earnings are growing more, so the dividend growth is sustainable.
DP72.69%
EPS Next 2Y25.62%
EPS Next 3Y22.89%
89.66
+0.32 (+0.36%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners75.83%
Inst Owner Change2.13%
Ins Owners0.16%
Ins Owner Change-0.55%
Market Cap76.87B
Revenue(TTM)14.91B
Net Income(TTM)1.37B
Analysts82
Price TargetN/A
Short Float %1.6%
Short Ratio1.8
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.29% |
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)20.03%
PT rev (3m)34.16%
EPS NQ rev (1m)0%
EPS NQ rev (3m)5.05%
EPS NY rev (1m)0%
EPS NY rev (3m)1.85%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.35%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)1%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 37.67 | ||
| Fwd PE | 28.99 | ||
| P/S | 5.15 | ||
| P/FCF | 66.15 | ||
| P/OCF | 33.92 | ||
| P/B | 6.66 | ||
| P/tB | 9.19 | ||
| EV/EBITDA | 25.05 |
EPS(TTM)2.38
EY2.65%
EPS(NY)3.09
Fwd EY3.45%
FCF(TTM)1.36
FCFY1.51%
OCF(TTM)2.64
OCFY2.95%
SpS17.4
BVpS13.46
TBVpS9.75
PEG (NY)1.26
PEG (5Y)16.43
Graham Number26.84
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 | 4.11 |
F-Score8
WACC8.73%
ROIC/WACC0.72
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 2Y25.62%
EPS Next 3Y22.89%
EPS Next 5Y20.01%
Revenue 1Y (TTM)18.27%
Revenue growth 3Y-2.34%
Revenue growth 5Y2.66%
Sales Q2Q%14.44%
Revenue Next Year13.9%
Revenue Next 2Y12.92%
Revenue Next 3Y11.98%
Revenue Next 5YN/A
EBIT growth 1Y143.9%
EBIT growth 3Y-18.7%
EBIT growth 5Y-2.77%
EBIT Next Year88.29%
EBIT Next 3Y37.8%
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 3 / 10 to CORNING INC (GLW). This can be considered as Overvalued.
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 37.67 and the Price/Book (PB) ratio is 6.66.
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%.