Corning Incorporated

Company Profile

Corning Incorporated had its IPO on 1981-12-31 under the ticker symbol GLW.

The company operates in the Technology sector and Electronic Components industry. Corning Incorporated has a staff strength of 57,500 employees.

Stock update

Shares of Corning Incorporated opened at $30.97 at the start of the last trading session i.e. 2023-09-12.

The stocks traded within a range of $30.93 - $31.4, and closed at $31.39.

This is a +1.16% increase from the previous day's closing price.

A total volume of 3,223,180 shares were traded at the close of the day’s session.

In the last one week, shares of Corning Incorporated have slipped by -4.47%.

Corning Incorporated's Key Ratios

Corning Incorporated has a market cap of $26.47 billion, indicating a price to book ratio of 2.5283 and a price to sales ratio of 1.9181.

In the last 12-months Corning Incorporated’s revenue was $13.32 billion with a gross profit of $4.84 billion and an EBITDA of $2.78 billion. The EBITDA ratio measures Corning Incorporated's overall financial performance and is widely used to measure its profitability.

In the trailing 12-month period, Corning Incorporated’s operating margin was 10.47% while its return on assets stood at 2.99% with a return of equity of 5.85%.

In Q2, Corning Incorporated’s quarterly earnings growth was a negative -50% while revenue growth was a negative 10.3%.

Corning Incorporated’s PE and PEG Ratio

Forward PE

14.3472

Trailing PE

41.9324

PEG

1.2406

Its diluted EPS in the last 12-months stands at $0.74 per share while it has a forward price to earnings multiple of 14.3472 and a PEG multiple of 1.2406. A low price to earnings ratio can mean the stock is attractively valued while a high ratio suggests the stock may be overvalued.

The PEG on the other hand provides a broader view compared to the P/E ratio and gives greater insight into Corning Incorporated’s profitability.

Corning Incorporated stock is trading at a EV to sales ratio of 2.3776 and a EV to EBITDA ratio of 8.3379. Its price to sales ratio in the trailing 12-months stood at 1.9181.

Corning Incorporated stock pays annual dividends of $1.1 per share, indicating a yield of 3.57% and a payout ratio of 60.33%.

Balance sheet and cash flow metrics

Total Assets

$28.65 billion

Total Liabilities

$4.41 billion

Operating Cash Flow

$-515000000.00

Capital Expenditure

$388 million

Dividend Payout Ratio

60.33%

Corning Incorporated ended 2024 with $28.65 billion in total assets and $0 in total liabilities. Its intangible assets were valued at $28.65 billion while shareholder equity stood at $11.41 billion.

Corning Incorporated ended 2024 with $0 in deferred long-term liabilities, $4.41 billion in other current liabilities, 915000000.00 in common stock, $16.51 billion in retained earnings and $2.38 billion in goodwill. Its cash balance stood at $1.54 billion and cash and short-term investments were $1.54 billion. The company’s total short-term debt was $187,000,000 while long-term debt stood at $7.44 billion.

Corning Incorporated’s total current assets stands at $7.29 billion while long-term investments were $0 and short-term investments were $0. Its net receivables were $1.67 billion compared to accounts payable of $1.52 billion and inventory worth $2.76 billion.

In 2024, Corning Incorporated's operating cash flow was $-515000000.00 while its capital expenditure stood at $388 million.

Comparatively, Corning Incorporated paid $0.60 in dividends in 2024.

Other key metrics

Current Trading Price

$31.39

52-Week High

$36.1562

52-Week Low

$28.015

Analyst Target Price

$38.25

Corning Incorporated stock is currently trading at $31.39 per share. It touched a 52-week high of $36.1562 and a 52-week low of $36.1562. Analysts tracking the stock have a 12-month average target price of $38.25.

Its 50-day moving average was $32.91 and 200-day moving average was $32.98 The short ratio stood at 1.94 indicating a short percent outstanding of 0%.

Around 33% of the company’s stock are held by insiders while 7024.9% are held by institutions.