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Corning Incorporated

Corning Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $15.6 billion, up 19.1% from fiscal 2024. In the quarter to June 2026, revenue grew 16.7%, EPS grew 18.2%, free cash flow grew 223.8% and total debt rose 12.3%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

156.68 3.85 +2.52%

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Market cap: $131.7B
P/E: 70.9×
Fwd P/E: 66.0×
Dividend yield: 0.71%
F-score: 6/9
Altman Z: 4.03
Beneish M: −2.35
Dividend safety: 50/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 98.11

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	2	2	11	—	—	11	1	—	1	1	—

Insider Ownership 8.34%

Capital & Financial Ratios $m

Market Cap 131,650.00

Revenue 16,964.00

Net Income 2,074.00

Free Cash Flow 2,395.00

Net Debt 5,920.00

Current Ratio 1.81

Debt/Equity 0.64

P/E ratio 70.90

Fwd P/E 66.00

P/S ratio 7.96

P/B ratio 10.29

Past 5Y EPS Growth 27.65%

This Y EPS Growth 30.54%

Next Y EPS Growth 32.57%

Next Y revenue growth 23.53%

Next 5Y EPS Growth 33.25%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 75.87%

10-year low 10-year high

P/S against its own 10 years 96.27%

10-year low 10-year high

P/B against its own 10 years 96.31%

10-year low 10-year high

EV/Sales against its own 10 years 96.20%

10-year low 10-year high

EV/FCF against its own 10 years 70.59%

10-year low 10-year high

Dividends

Payout Ratio 0.51

Annual Dividend Rate 1.12

Annual Dividend Yield 0.71%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.13	0.28 0.28 0.28
2025	1.12	0.28 0.28 0.28 0.28
2024	1.12	0.28 0.28 0.28 0.28
2023	1.12	0.28 0.28 0.28 0.28
2022	1.08	0.27 0.27 0.27 0.27
2021	0.96	0.24 0.24 0.24 0.24
2020	0.88	0.22 0.22 0.22 0.22
2019	0.80	0.20 0.20 0.20 0.20
2018	0.72	0.18 0.18 0.18 0.18
2017	0.62	0.16 0.16 0.16 0.16
2016	0.54	0.14 0.14 0.14 0.14

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,779	1,768	1,526	2,504
Receivables	1,572	2,053	2,779	2,932
Inventory	2,666	2,724	3,077	3,426
Other	1,195	1,447	1,554	2,055
	7,212	7,992	8,936	10,917

	2023	2024	2025	Q'26
Payables	1,466	1,472	1,979	2,361
ST’ Debt	320	326	804	668
Other	—	—	—	—
	4,319	4,919	5,628	6,021

Compound Annual Growth %

	10y	5y	3y
Sales	5.54%	6.70%	3.27%
Cash Flow	(0.48%)	4.33%	1.01%
Earnings	2.55%	30.98%	6.64%
Book Value	(4.18%)	(1.76%)	0.09%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	4,144	4,505	—	—	—
’25	3,452	3,862	4,100	4,215	15,629
’24	2,975	3,251	3,391	3,501	13,118
’23	3,178	3,243	3,173	2,994	12,588
’22	3,680	3,615	3,488	3,406	14,189
’21	3,290	3,501	3,615	3,676	14,082
’20	2,391	2,561	3,001	3,350	11,303

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	362	1,717	—	—	—
’25	151	708	784	1,052	2,695
’24	96	521	699	623	1,939
’23	(49)	619	722	713	2,005
’22	534	758	706	617	2,615
’21	723	771	895	1,023	3,412
’20	248	550	608	774	2,180

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	30	1,295	—	—	—
’25	(57)	400	450	620	1,413
’24	(156)	279	482	369	974
’23	(364)	231	381	434	682
’22	151	405	241	214	1,011
’21	434	464	477	400	1,775
’20	(297)	289	455	393	840

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.43	0.64	—	—	—
’25	0.18	0.54	0.50	0.62	1.83
’24	0.24	0.12	(0.14)	0.36	0.58
’23	0.20	0.33	0.19	(0.05)	0.68
’22	0.68	0.66	0.24	(0.04)	1.54
’21	0.67	(0.42)	0.43	0.56	2.29
’20	(0.16)	(0.13)	0.48	0.28	0.54

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	16.13	24.12	26.11	26.75	17.44	34.81	28.98	25.26	29.71	37.31	Analyst estimates 2026–2028 Powerpack
	High	25.35	32.82	36.56	35.34	38.44	46.82	43.47	37.10	51.03	96.64
People
People	Employees	40,700	46,200	51,500	49,500	50,110	61,200	57,500	49,800	56,300	67,200
	Revenue/emp, $m	0.23	0.22	0.22	0.23	0.23	0.23	0.25	0.25	0.23	0.23
Income, $m
Income, $m	Revenue	9,390	10,116	11,290	11,503	11,303	14,082	14,189	12,588	13,118	15,629
	Gross margin, %	40.07	39.74	39.51	35.08	31.24	35.95	31.76	31.23	32.60	35.97
	EBT	3,692	1,657	1,503	1,216	634	2,426	1,797	816	813	2,052
	EBT margin, %	39.32	16.38	13.31	10.57	5.61	17.23	12.66	6.48	6.20	13.13
	Net income	3,695	(497)	1,066	960	523	1,935	1,386	648	592	1,742
	Depreciation	1,195	1,158	1,293	1,503	1,520	1,481	1,452	1,369	1,350	1,347
Per share, $
Per share, $	Revenue	9.21	11.30	13.84	14.82	14.85	17.01	16.83	14.84	15.38	18.28
	Earnings	3.53	(0.66)	1.19	1.11	0.54	2.34	1.56	0.69	0.59	1.87
	Cash flow	2.49	2.24	3.58	2.62	2.86	4.12	3.10	2.36	2.27	3.15
	Capex	(1.11)	(2.02)	(2.81)	(2.45)	(1.76)	(1.98)	(1.90)	(1.56)	(1.13)	(1.50)
	Free cash flow	1.38	0.22	0.77	0.17	1.10	2.14	1.20	0.80	1.14	1.65
	Book value	17.61	17.62	17.02	16.75	17.67	15.15	14.56	14.00	12.98	14.39
	Shares, m	1,020	895	816	776	761	828	843	848	853	855
Valuation, ×
Valuation, ×	P/E	6.73	0.00	24.36	26.23	73.47	27.78	20.73	44.84	80.54	47.08
	P/S	2.64	2.89	2.18	1.96	2.42	2.19	1.93	2.05	3.09	4.79
	P/B	1.58	2.17	2.13	2.11	2.46	2.46	2.23	2.18	3.66	6.08
	EV/Sales	2.49	2.97	2.51	2.43	2.89	2.54	2.30	2.51	3.50	5.23
	EV/FCF	16.63	150.03	45.05	212.94	38.92	20.13	32.32	46.34	47.20	57.87
Cash, $m
Cash, $m	Operating cash flow	2,537	2,004	2,919	2,031	2,180	3,412	2,615	2,005	1,939	2,695
	Capex	(1,130)	(1,804)	(2,291)	(1,900)	(1,340)	(1,637)	(1,604)	(1,323)	(965)	(1,282)
	Free cash flow	1,407	200	628	131	840	1,775	1,011	682	974	1,413
Balance, $m
Balance, $m	Working capital	6,297	5,618	3,723	3,942	4,237	2,853	2,278	2,893	3,073	3,308
	Total debt	3,902	5,128	5,998	7,740	7,972	7,044	6,911	7,526	7,211	8,434
	Net debt	(1,389)	811	3,643	5,306	5,300	4,896	5,240	5,747	5,443	6,908
	Shareholders’ equity	17,960	15,770	13,886	12,997	13,448	12,545	12,275	11,868	11,070	12,307
Returns, %
Returns, %	ROA	12.75	(2.15)	3.52	3.06	1.39	6.26	4.41	2.00	1.80	5.44
	ROIC	5.37	6.06	5.62	4.46	1.70	7.57	4.69	3.16	4.30	7.41
	ROE	22.33	(4.09)	7.73	7.74	3.79	16.09	10.60	4.81	4.41	13.65

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
APH Amphenol Corporation	$210.4B	41.5×	29.9×	+55.00% (above 0%: growing)	+60.00% (above 0%: growing)	+7.51% (above 0%: growing)	40.51%	29.51%	Compare
GLW Corning Incorporated	$131.7B	70.9×	66.0×	+16.65% (above 0%: growing)	+18.18% (above 0%: growing)	+223.75% (above 0%: growing)	36.14%	15.49%
TEL TE Connectivity Ltd.	$62.1B	21.1×	19.7×	+13.81% (above 0%: growing)	+18.98% (above 0%: growing)	−8.21% (below 0%: shrinking)	35.56%	19.01%	Compare
FLEX Flex Ltd.	$42.4B	46.3×	37.0×	+20.58% (above 0%: growing)	+52.00% (above 0%: growing)	−84.70% (below 0%: shrinking)	9.42%	4.94%	Compare
JBL Jabil, Inc.	$31.4B	31.0×	31.7×	+28.65% (above 0%: growing)	+86.61% (above 0%: growing)	+7.13% (above 0%: growing)	9.43%	5.67%	Compare
FN Fabrinet	$17.5B	36.8×	38.1×	+44.64% (above 0%: growing)	+59.43% (above 0%: growing)	−885.01% (below 0%: shrinking)	12.01%	10.20%	Compare
TTMI TTM Technologies, Inc.	$12.4B	53.1×	53.7×	+37.42% (above 0%: growing)	+95.12% (above 0%: growing)	+22.47% (above 0%: growing)	21.10%	10.86%	Compare
VICR Vicor Corporation	$12.1B	83.4×	96.1×	+1.63% (above 0%: growing)	+17.39% (above 0%: growing)	−61.09% (below 0%: shrinking)	57.98%	24.33%	Compare
SANM Sanmina Corporation	$11.3B	38.2×	44.7×	+69.67% (above 0%: growing)	+69.53% (above 0%: growing)	−85.58% (below 0%: shrinking)	10.49%	6.39%	Compare
Median of peers	$24.4B	39.8×	37.6×	+33.04%	+59.72%	−34.65%	16.56%	10.53%

All 49 Electronic Components stocks →

Corning Incorporated (GLW) key facts

Strength: Corning Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $15.6 billion, up 19.1% from fiscal 2024.
Corning Incorporated (GLW) is an Electronic Components company in the Technology sector, listed on the New York Stock Exchange.
As of October 9, 2026, GLW traded at $156.68, a market capitalization of $131.7 billion.
Corning Incorporated pays an annual dividend of $1.12 per share, a yield of 0.71%, with a payout ratio of 51.1%.
Return on equity was 13.7% and debt-to-equity 0.64.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.03 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated 29 September 2026

Corning reported revenue of $15.6 billion in FY2025, with net income of $1.7 billion and diluted EPS of $1.83 in FY2025. In Q2 FY2026, revenue was $4.5 billion, net income was $609.0 million, and diluted EPS was $0.64. Trailing-twelve-month revenue reached $17.0 billion to Q2 FY2026.

Margins and returns recovered in FY2025 from FY2024, while revenue, EPS, and free cash flow were higher in Q2 FY2026 than in Q2 FY2025. Net debt was $5.9 billion in Q2 FY2026. As of September 28, 2026, the reported valuation multiples were above the company’s supplied historical medians and industry medians where available.

Read the full analysis →