Information Technology · Electronic Components · US stock · price as of 16 Oct 2026
Key indicators
Price
$132.00
52-week range
$76.98 – $271.27
Market cap
$115.5B
P/E (trailing)
60.5×
EV / EBITDA
46.7×
Free-cash-flow yield
3.4%
Dividend yield
0.8%
Revenue (last 12 months)
$17.0B
Revenue growth (3y a year)
3.3%
Operating margin
15.3%
Return on invested capital
12.1%
Net debt / EBITDA
2.3×
Fair value
Blended fair value$39.53 range $38 – $42
Versus priceOvervalued−70% to fair value
Peer multiples
$49.03
Fundamentals-adjusted multiple
$42.10
10-year DCF (market-scaled)
$27.45
Earnings power value (floor, not blended)
$11.43
Model uncertainty
High
X-Ray Score
36/ 100 · Medium confidence · ahead of 12% of sector peers
Valuation18
Growth48
Profitability40
Financial health36
Dividends46
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Corning is a materials science company that makes specialty glass, ceramics and optical fibre. Its products include cover glass for smartphones, glass for displays, optical fibre and cable for telecom and data centre networks, ceramic substrates for vehicle emissions control, and laboratory products. Customers include electronics makers, telecom carriers, car and truck makers and scientific laboratories.
Revenue comes from supplying these materials and components to manufacturers and network operators. It totals $17.0 billion over the last twelve months, with growth of 3.3% a year across three years. The operating margin is 15.3%, and the business earns a profit of 12% on the capital invested in it. Corning has net debt of 2.3 times EBITDA, and the dividend yield is 0.8%.
StocksXray gives Corning Inc an X-Ray Score of 36 out of 100 (medium confidence), ahead of 12% of the S&P 500 stocks in its sector. Its strongest lens is growth (48) and its weakest is valuation (18).
Our fair value blend is $39.53 (range $37.78 to $41.63). At $132.00 the stock trades 234% above that blend, so the label is "Overvalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Corning Inc (GLW)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$33.06
$29.23
$28.88
$46.39
$87.10
$132.00
Market cap
$27.9B
$25.1B
$24.8B
$40.3B
$75.9B
$115.5B
P/E
25.8×
19.0×
42.5×
80.0×
47.6×
60.5×
EV / revenue
2.3×
2.2×
2.5×
3.5×
5.3×
7.2×
EV / EBITDA
15.6×
21.2×
34.7×
40.7×
36.5×
47.0×
Price / free cash flow
8.2×
9.6×
12.4×
20.8×
28.1×
29.5×
Free-cash-flow yield
12.2%
10.4%
8.1%
4.8%
3.6%
3.4%
Price / book
2.3×
2.1×
2.1×
3.8×
6.4×
9.2×
Dividend yield
2.90%
3.69%
3.88%
2.41%
1.29%
0.85%
Fundamentals checklist ● 1 Good · ● 5 Average · ● 8 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−6.1%Good
Risk models
Altman Z score3.8×Average
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)5.9%Average
Revenue growth (3y)3.3%Bad
Growth consistency90%Average
Balance sheet
Current ratio1.8×Average
Net debt / EBITDA2.3×Bad
Interest cover7.3×Bad
Valuation
Fair value vs price0.3×Bad
EBIT / EV yield2.1%Bad
Profitability
Return on invested capital12.1%Bad
Operating margin15.3%Bad
Gross profitability18.7%Bad
XStocksXray
Corning Inc (GLW)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
14,082
14,189
12,588
13,118
15,629
16,964
Gross profit
5,063
4,506
3,931
4,276
5,621
6,171
Operating income
2,112
1,438
890
1,135
2,279
2,598
Net income
1,906
1,316
581
506
1,596
1,900
Diluted EPS ($)
1.28
1.54
0.68
0.58
1.83
2.18
Free cash flow
3,412
2,615
2,005
1,939
2,695
3,915
Gross margin
36.0%
31.8%
31.2%
32.6%
36.0%
36.4%
Operating margin
15.0%
10.1%
7.1%
8.7%
14.6%
15.3%
Net margin
13.5%
9.3%
4.6%
3.9%
10.2%
11.2%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
30,154
29,499
28,500
27,735
30,976
32,956
Cash
2,148
1,671
1,779
1,768
1,526
2,504
Total debt
7,044
6,911
7,526
7,211
8,434
8,424
Equity
12,333
12,008
11,551
10,686
11,807
12,560
Dividend per share ($)
0.96
1.08
1.12
1.12
1.12
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.