CORNING INC. DL -,50
stock DE:GLW (FRANKFURT)

Alternative ID: US2193501051 850808

Watch List

Exchange: FRANKFURT
Sector: Industrial Goods
Industry: Electronic Components
Market Cap: Large (27.19B)
Data in EUR

EPS: 1.17
Current PE: 28.05
BVPS: 12.88
Price/BVPS: 2.58
Dividend: 0.90 / 2.8%

Hist Grade: C (50.82)
YOY Grade: E (24.62)
Debt/FCF: 3.68
ROIC: 5.8%
PEG: 1.17
PEGY: 1.05

Value Price: 5.76
MOS Price: 2.88
MOS %: -82.7%
Graham Number: 18.41
Graham MOS %: -44.6%
IRT: 20.57

Market Price

33.23

0.41 1.3%

as of Mar 20 '23

52 Week Range:

29.44 37.10

Stock Analyzer Tutorials

General Info

type: video (mp4); length: 3:30

Demonstrates how to use Stock Analyzer, shows how to analyze a stock and explains in detail "General Info" section of the Stock Analyzer result page.

Financial Statements

type: video (mp4); length: 5:10

Explains information presented in the Financial Statements section of the S2O Stock Analyzer: financial statements charts, absolute values and growth rates.

Growth Grade and Financial Ratios

type: video (mp4); length: 5:09

Demonstrates how to use Growth Grade & Financial Ratios section; shows the difference between historical and year-over-year Growth Grade on the real life example.

Demonstrates how to use Value Price (intrinsic value) and the Graham Number, MOS (margin of safety) and IRT - Investment Recovery Time; explains 3 different projection models used to compute value price - pessimistic, moderate and optimistic.

Price Charts

type: video (mp4); length: 8:34

Demonstrates basic rules of how to read a candlestick chart, long and short term moving averages, stochastic, MACD and relative strength (RS) charts. Explains how bull or bear market condition is computed.

General Info

Exchange: FRANKFURT
Sector: Industrial Goods
Industry: Electronic Components
Market Cap: Large (27.19B)
Inst. Ownership: 73.02%
Insider Ownership: 10.03%
Full Time Employees: 61200

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

Financial Statements

The charts below show selected Annual and Quarterly Financial Data.

The purpose of these charts is to discover long and short term change dynamics. When numbers are growing year after year in the annual statements chart, the business become stronger and stronger and this is a good sign.

Quarterly Data Chart can be used to do a short term analysis. It makes sense to pay attention to the quarterly dynamics and do not wait for the next yearly statement. We should be alerted if we see that quarterly numbers are going down.

You can check "Annual Financial Statements" and "Quarterly Financial Statements" sections for exact numbers and growth rates.

Annual Statements

On a charts below the Line shows absolute values and the Bar chart shows Year-Over-Year Growth Rate for selected financial statement item. A consistent GROWTH is generally considered necessary to fund future growth from within a business.
NOTE: Growth Rate is not provided if either the latest period or the year-ago period contains a net loss. (source: WSJ Digest of Earnings)
TIP! move your mouse pointer over bar or a circle on any chart below to see details.

Financial Statements

Income Statement

Cash Flow Statement

Balance Sheet

Liquidity Ratios

Current Ratio

Current Ratio measures the ability to meet short term obligations. Generally accepted standard is 2 (current assets should be 2 times or 200% of current liabilities).

Quick Ratio

Measures immediate liquidity or the cash available to cover immediate liabilities. A safe margin would be at least 1 (100%).

Financial Leverage

Defined as total assets divided by total shareholders' equity. The higher the ratio, the more debt a company uses in its capital structure.

Profitability Ratios

ROA

Return on Assets (ROA) measures the income (profit) that is generated by the use of the assets of the business.

ROE

Return on Equity (ROE) is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders equity. ROE is sometimes called "return on net worth."

ROIC

The Return on Invested Capital (ROIC) measure gives a sense of how well a company is using its money to generate returns. Some investors use this figure as a final evaluation to determine whether or not to invest in a company.

Annual Statements

Item Name	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Equity (BVPS)	11.03	11.22	11.31	12.58	14.34	15.75	16.07	12.87	12.60	11.05	12.88
growth rate		1.7%	0.8%	11.2%	14.0%	9.8%	2.0%	-19.9%	-2.1%	-12.3%	16.6%
Earnings BIT	2,530.76	1,671.41	1,947.35					1,604.00	1,660.00	1,357.00	2,293.00
growth rate		-34.0%	16.5%					-3.8%	3.5%	-18.3%	69.0%
Avg.PE	7.32	10.96	13.12	12.49	16.85	11.93	11.57				11.57
growth rate		49.7%	19.7%	-4.8%	34.9%	-29.2%	-3.0%				0.0%
ROA	10.45	6.04	6.78	8.12	4.23	12.74	-2.15	3.52	3.06	1.39	3.54
growth rate		-42.2%	12.3%	19.8%	-47.9%	201.2%	-100.0%	100.0%	-13.1%	-54.6%	154.7%
ROE	13.87	8.12	9.20	11.76	6.94	22.42	-4.10	7.78	7.80	3.84	9.27
growth rate		-41.5%	13.3%	27.8%	-41.0%	223.1%	-100.0%	100.0%	0.3%	-50.8%	141.4%
ROIC	12.69	7.47	8.30	10.41	6.20	18.15	-2.78	5.98	5.61	3.26	6.57
growth rate		-41.1%	11.1%	25.4%	-40.4%	192.7%	-100.0%	100.0%	-6.2%	-41.9%	101.5%
Cur. Ratio	4.14	4.96	5.09	4.41	2.94	3.29	2.75	2.12	2.12	2.12	1.59
growth rate		19.8%	2.6%	-13.4%	-33.3%	11.9%	-16.4%	-22.9%	0.0%	0.0%	-25.0%
Quick Ratio	3.29	3.81	3.72	3.26	2.12	2.46	1.91	1.30	1.21	1.28	0.86
growth rate		15.8%	-2.4%	-12.4%	-35.0%	16.0%	-22.4%	-31.9%	-6.9%	5.8%	-32.8%
Leverage	1.32	1.37	1.35	1.56	1.73	1.79	2.05	2.39	2.72	2.81	2.44
growth rate		3.8%	-1.5%	15.6%	10.9%	3.5%	14.5%	16.6%	13.8%	3.3%	-13.2%
Balance Sheet	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Acct.Receivable	853.05	1,026.50	987.87					1,940.00	1,836.00	2,133.00	2,004.00
growth rate		20.3%	-3.8%					14.5%	-5.4%	16.2%	-6.1%
Acct.Payable								1,456.00	1,587.00	1,174.00	1,612.00
growth rate									9.0%	-26.0%	37.3%
Cur.Assets	6,840.95	7,643.54	7,009.66					7,034.00	7,463.00	8,004.00	7,659.00
growth rate		11.7%	-8.3%					0.1%	6.1%	7.3%	-4.3%
Total Assets	21,955.36	23,159.25	22,452.06					27,505.00	28,898.00	30,775.00	30,154.00
growth rate		5.5%	-3.1%					4.1%	5.1%	6.5%	-2.0%
Cash	3,674.73	3,932.54	3,708.63					2,355.00	2,434.00	2,672.00	2,148.00
growth rate		7.0%	-5.7%					-8.7%	3.4%	9.8%	-19.6%
Inventory	768.69	828.61	1,001.27					2,037.00	2,320.00	2,438.00	2,481.00
growth rate		7.8%	20.8%					15.3%	13.9%	5.1%	1.8%
Cur.Liabilities	1,653.27	1,542.11	1,376.55					3,311.00	3,521.00	3,767.00	4,806.00
growth rate		-6.7%	-10.7%					19.2%	6.3%	7.0%	27.6%
Liabilities	5,337.47	6,219.69	5,767.93					13,619.00	15,901.00	17,327.00	17,609.00
growth rate		16.5%	-7.3%					18.8%	16.8%	9.0%	1.6%
LT Debt	1,863.78	2,666.37	2,579.64					5,994.00	7,458.00	7,653.00	6,821.00
growth rate		43.1%	-3.3%					18.4%	24.4%	2.6%	-10.9%
Equity	16,617.90	16,939.56	16,684.12					11,492.00	10,607.00	10,957.00	12,333.00
growth rate		1.9%	-1.5%					-7.2%	-7.7%	3.3%	12.6%
Common Shares	1,583.00	1,506.00	1,462.00	1,427.00	1,343.00	1,144.00	895.00	857.00	859.00	863.00	907.00
growth rate		-4.9%	-2.9%	-2.4%	-5.9%	-14.8%	-21.8%	-4.3%	0.2%	0.5%	5.1%
Cash Flow Statement	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Capital Expenditures	-1.58	0.00	0.00					2,310.00	1,978.00	1,377.00	1,637.00
growth rate		0.0%							-14.4%	-30.4%	18.9%
Cash Dividends	279.09	372.12	483.29					685.00	742.00	787.00	871.00
growth rate		33.3%	29.9%					7.2%	8.3%	6.1%	10.7%
Cash From OA	2,514.21	2,527.61	2,197.27					2,919.00	2,031.00	2,180.00	3,412.00
growth rate		0.5%	-13.1%					5.8%	-30.4%	7.3%	56.5%
FCF per Share	0.97	0.54	0.76	2.18	1.12	0.74	0.78	0.65	-0.27	1.08	1.88
growth rate		-44.3%	40.7%	186.8%	-48.6%	-33.9%	5.4%	-16.7%	-100.0%	100.0%	74.1%
FCF	757.00	1,405.00	1,768.00	3,633.00	1,559.00	1,391.00	200.00	609.00	44.00	803.00	1,775.00
growth rate		85.6%	25.8%	105.5%	-57.1%	-10.8%	-85.6%	204.5%	-92.8%	1,725.0%	121.1%
Income Statement	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Sales	6,220.48	6,316.66	6,164.50					11,290.00	11,503.00	11,303.00	14,082.00
growth rate		1.6%	-2.4%					12.9%	1.9%	-1.7%	24.6%
Op.Income	1,335.55	929.52	1,080.90					1,604.00	1,660.00	1,357.00	2,293.00
growth rate		-30.4%	16.3%					8.2%	3.5%	-18.3%	69.0%
IBT	2,533.13	1,557.09	1,949.71					1,503.00	1,216.00	623.00	2,397.00
growth rate		-38.5%	25.2%					-5.1%	-19.1%	-48.8%	284.8%
Net Income	2,211.46	1,289.82	1,546.05					1,066.00	960.00	512.00	1,906.00
growth rate		-41.7%	19.9%					-7.2%	-9.9%	-46.7%	272.3%
EPS	1.78	1.09	1.34	1.73	1.00	3.23	-0.66	1.13	1.07	0.54	1.28
growth rate		-38.8%	22.9%	29.1%	-42.2%	223.0%	-100.0%	100.0%	-5.3%	-49.5%	137.0%
Gross Profit	2,811.43	2,616.70	2,620.64					4,558.00	4,423.00	3,974.00	5,143.00
growth rate		-6.9%	0.2%					11.7%	-3.0%	-10.2%	29.4%
R&D	529.02	606.28	559.76					987.00	1,001.00	907.00	994.00
growth rate		14.6%	-7.7%					12.0%	1.4%	-9.4%	9.6%

Quarterly Statements

Item Name	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Earnings BIT	581.00	588.00	594.00	491.00	431.00
growth rate		1.2%	1.0%	-17.3%	-12.2%
Balance Sheet	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Acct.Receivable	2,114.00	2,004.00	1,910.00	1,786.00	1,620.00
growth rate		-5.2%	-4.7%	-6.5%	-9.3%
Acct.Payable	1,396.00	1,612.00	1,849.00	1,934.00	1,808.00
growth rate		15.5%	14.7%	4.6%	-6.5%
Cur.Assets	7,679.00	7,659.00	7,861.00	7,883.00	7,804.00
growth rate		-0.3%	2.6%	0.3%	-1.0%
Total Assets	29,706.00	30,154.00	30,257.00	29,718.00	28,735.00
growth rate		1.5%	0.3%	-1.8%	-3.3%
Cash	2,212.00	2,148.00	2,016.00	1,629.00	1,630.00
growth rate		-2.9%	-6.2%	-19.2%	0.1%
Inventory	2,463.00	2,481.00	2,618.00	2,835.00	2,951.00
growth rate		0.7%	5.5%	8.3%	4.1%
Cur.Liabilities	4,337.00	4,806.00	5,061.00	5,530.00	5,167.00
growth rate		10.8%	5.3%	9.3%	-6.6%
Liabilities	17,351.00	17,609.00	17,628.00	17,736.00	17,187.00
growth rate		1.5%	0.1%	0.6%	-3.1%
LT Debt	7,019.00	6,821.00	6,839.00	6,677.00	6,525.00
growth rate		-2.8%	0.3%	-2.4%	-2.3%
Equity	12,145.00	12,333.00	12,395.00	11,734.00	11,284.00
growth rate		1.6%	0.5%	-5.3%	-3.8%
Common Shares	907.00	907.00	908.00	910.00	910.00
growth rate		0.0%	0.1%	0.2%	0.0%
Cash Flow Statement	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Capital Expenditures	401.00	623.00	383.00	353.00	465.00
growth rate		55.4%	-38.5%	-7.8%	31.7%
Cash Dividends	217.00	212.00	228.00	234.00	234.00
growth rate		-2.3%	7.6%	2.6%	0.0%
Cash From OA	895.00	1,023.00	534.00	758.00	706.00
growth rate		14.3%	-47.8%	42.0%	-6.9%
FCF	494.00	400.00	151.00	405.00	241.00
growth rate		-19.0%	-62.3%	168.2%	-40.5%
Income Statement	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Sales	3,615.00	3,676.00	3,680.00	3,615.00	3,488.00
growth rate		1.7%	0.1%	-1.8%	-3.5%
Op.Income	581.00	588.00	594.00	491.00	431.00
growth rate		1.2%	1.0%	-17.3%	-12.2%
IBT	480.00	576.00	761.00	750.00	260.00
growth rate		20.0%	32.1%	-1.5%	-65.3%
Net Income	371.00	487.00	581.00	563.00	208.00
growth rate		31.3%	19.3%	-3.1%	-63.1%
EPS
growth rate
Gross Profit	1,321.00	1,351.00	1,283.00	1,246.00	1,187.00
growth rate		2.3%	-5.0%	-2.9%	-4.7%
R&D	251.00	279.00	248.00	240.00	279.00
growth rate		11.2%	-11.1%	-3.2%	16.3%

Growth Grade & Financial Ratios

All financial ratios below are calculated based on latest annual statements available and present the most up to date snapshot of a company finances.

Growth Grade

Historical Growth Grade:

C (50.82)

YOY Growth Grade:

E (24.62)

Click on buttons above for detailed yearly growth rates.

Market Ratios

Dividend Yield: 2.8%
Beta: 1.03
Beta of 1.0335 suggests that the asset is volatile as the rest of the market (fairly priced).
PE: 28.05
EY: 3.6%
PEG: 1.17
PEG Ratio of 1.17 suggests that stock is reasonably priced.
PEGY: 1.05
PEGY Ratio of 1.05 suggests that stock is reasonably priced.
Price/BVPS: 2.58

Profitability Ratios

ROE: 9.3%
Return on Equity (ROE) of 9.3% suggests that management is inefficient or it could reflect a highly capitalized, conservatively operated business with little long term debt.
ROS: 16.3%
The value of Return on Sales depends on the business and/or industry. Usually the higher ratio the better.
ROA: 8.0%
Return on Assets (ROA). Low ratio usually means poor performance, or ineffective use of assets by management. High ratio usually means good performance.
ROI: 19.4%
Return on Investment (ROI) of 19.4% suggests that a company is doing well.
ROIC: 5.8%
Return on Invested Capital (ROIC) of 5.8% suggests that a company may not be able to fund future growth from within.

Liquidity Ratios

Current Ratio: 1.59
Current Ratio of 1.59 suggests that a company may not be able to pay off bills as rapidly as it should.
Quick Ratio: 0.86
Quick Ratio of 0.86 suggests that a company may not be able to pay off bills as rapidly as it should.
Cash Turnover: 4.94
Turnover Of Cash Ratio of 4.94 suggests that a company is doing well.
Equity Ratio: 40.9%
Equity Ratio of 40.9% suggests that a company has high financing and debt service costs, not very attractive to investors.
Debt/Equity: 142.8%
Debt to Equity Ratio of 142.8% suggests that greater risk assumed by creditors, hence greater interest by them in the way the company is being managed.
Debt/FCF: 3.68
Debt/FCF of 3.68 suggests that a company does not have enough cash to pay off its long term debt within three years.

Efficiency Ratios

Avg Collection Period: 51.94
Average Collection Period of 51.94 days suggests that a company is doing well.
Inventory Turnover: 3.60
Inventory Turnover Ratio of 3.60 suggests a large inventory, a never-out-of-stock situation, perhaps some obsolete items, or it could indicate poor liquidity and possible overstocking of items.
Cash Flow Ratio: 2.78
Cash Flow Ratio of 2.78 suggests a company is doing OK, but lower inventory is generally viewed as a positive trend.
Profit Margin: 13.5%

Value Price

PE and EPS

	Historical	Current	Forward
PE	26.78	28.40	13.00
EPS / Growth	4.9%	1.17	24.0%

Value Price & Investment Recovery Time

Read more about Stock2Own value price in Stock Market: Fundamental Analysis.

Equity Growth Rate: 0.7%

Estimates	Pessimistic	Moderate	Optimistic
Rate of Return	15.0%
MOS Price %	50 %
Future EPS Growth	0.7%	2.8%	2.8%
Future PE	1.36	15.12	15.12
Future EPS	1.25	1.54	1.54
Value Price MOS %	0.42 -98.7%	5.76 -82.7%	5.76 -82.7%
MOS Price	0.21	2.88	2.88
IRT	25.89	20.77	20.77

Graham Number:

NOTE: The Graham Number applies only to certain types of stocks in combination with a number of other criteria.

Read more about Graham Number in Stock Market: Fundamental Analysis.

Graham Number: 18.41
Graham MOS: -44.6%

Price Chart

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