CORNING INC (GLW)
US2193501051 - Common Stock
GLW gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 127 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 is quite expensive at the moment. 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.
In the past year GLW had a positive cash flow from operations.
GLW had positive earnings in each of the past 5 years.
Each year in the past 5 years GLW had a positive operating cash flow.
1.2 Ratios
GLW's Return On Assets of 2.04% is in line compared to the rest of the industry. GLW outperforms 53.97% of its industry peers.
GLW's Return On Equity of 5.03% is in line compared to the rest of the industry. GLW outperforms 57.14% of its industry peers.
GLW's Return On Invested Capital of 2.88% is in line compared to the rest of the industry. GLW outperforms 53.97% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GLW is below the industry average of 9.42%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.04% | ||
| ROE | 5.03% | ||
| ROIC | 2.88% |
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
Looking at the Profit Margin, with a value of 4.62%, GLW is in the better half of the industry, outperforming 67.46% of the companies in the same industry.
GLW's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 7.07%, GLW is in the better half of the industry, outperforming 73.02% 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 (31.23%) which is in line with its industry peers.
GLW's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.07% | ||
| PM (TTM) | 4.62% | ||
| GM | 31.23% |
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), GLW is destroying value.
Compared to 1 year ago, GLW has less shares outstanding
GLW has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, GLW has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.49 indicates that GLW is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.49, GLW is in line with its industry, outperforming 47.62% of the companies in the same industry.
GLW has a debt to FCF ratio of 12.24. This is a negative value and a sign of low solvency as GLW would need 12.24 years to pay back of all of its debts.
GLW has a Debt to FCF ratio (12.24) which is in line with its industry peers.
A Debt/Equity ratio of 0.62 indicates that GLW is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.62, GLW is not doing good in the industry: 79.37% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 12.24 | ||
| Altman-Z | 2.49 |
ROIC/WACC0.33
WACC8.69%
2.3 Liquidity
A Current Ratio of 1.67 indicates that GLW should not have too much problems paying its short term obligations.
GLW's Current ratio of 1.67 is on the low side compared to the rest of the industry. GLW is outperformed by 72.22% of its industry peers.
GLW has a Quick Ratio of 1.05. 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 Quick ratio value of 1.05, GLW is not doing good in the industry: 78.57% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.67 | ||
| Quick Ratio | 1.05 |
3. Growth
3.1 Past
GLW shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -18.66%.
Measured over the past years, GLW shows a decrease in Earnings Per Share. The EPS has been decreasing by -1.03% on average per year.
GLW shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -11.28%.
GLW shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.20% yearly.
EPS 1Y (TTM)-18.66%
EPS 3Y6.69%
EPS 5Y-1.03%
EPS growth Q2Q-17.02%
Revenue 1Y (TTM)-11.28%
Revenue growth 3Y3.65%
Revenue growth 5Y2.2%
Revenue growth Q2Q-12.1%
3.2 Future
The Earnings Per Share is expected to grow by 20.17% on average over the next years. This is a very strong growth
GLW is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.68% yearly.
EPS Next Y10.7%
EPS Next 2Y13.28%
EPS Next 3Y11.54%
EPS Next 5Y20.17%
Revenue Next Year0.4%
Revenue Next 2Y3.79%
Revenue Next 3Y3.68%
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 19.84 indicates a rather expensive valuation of GLW.
Based on the Price/Earnings ratio, GLW is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 28.28. GLW is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 17.92, the valuation of GLW can be described as rather expensive.
GLW's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. GLW is cheaper than 71.43% of the companies in the same industry.
GLW is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 20.88, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.84 | ||
| Fwd PE | 17.92 |
4.2 Price Multiples
62.70% of the companies in the same industry are more expensive than GLW, based on the Enterprise Value to EBITDA ratio.
The rest of the industry has a similar Price/Free Cash Flow ratio as GLW.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 46.9 | ||
| EV/EBITDA | 15.26 |
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)1.85
PEG (5Y)N/A
EPS Next 2Y13.28%
EPS Next 3Y11.54%
5. Dividend
5.1 Amount
GLW has a Yearly Dividend Yield of 3.34%.
GLW's Dividend Yield is rather good when compared to the industry average which is at 1.75. GLW pays more dividend than 97.62% of the companies in the same industry.
GLW's Dividend Yield is a higher than the S&P500 average which is at 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.34% |
5.2 History
The dividend of GLW is nicely growing with an annual growth rate of 7.66%!
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)7.66%
Div Incr Years13
Div Non Decr Years16
5.3 Sustainability
GLW pays out 170.22% 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.
DP170.22%
EPS Next 2Y13.28%
EPS Next 3Y11.54%
CORNING INC
NYSE:GLW (5/3/2024, 7:04:01 PM)
After market: 33.7 -0.02 (-0.06%)33.72
+0.15 (+0.45%)
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 Cap28.84B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.34% |
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)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
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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)
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Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
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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 | 19.84 | ||
| Fwd PE | 17.92 | ||
| 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)1.85
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.04% | ||
| ROE | 5.03% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 7.07% | ||
| PM (TTM) | 4.62% | ||
| GM | 31.23% | ||
| 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 Turnover0.44
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.67 | ||
| Quick Ratio | 1.05 | ||
| 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)
Growth
EPS 1Y (TTM)-18.66%
EPS 3Y6.69%
EPS 5Y
EPS growth Q2Q
EPS Next Y10.7%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-11.28%
Revenue growth 3Y3.65%
Revenue growth 5Y
Revenue growth 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