FirmAtlas
Company handbook · GLW · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
GLW · CIK 24741 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026
CORNING INC /NY
$132.00
−6.43 (−4.64%)
Close, Oct 16, 2026 · 52-week $77–272
Last fiscal year
CORNING INC /NY reported revenue of $15.6B for the year ended Dec 31, 2025 (FY25), up 19.1% from FY24. Net income was $1.6B, operating cash flow $2.7B and free cash flow $1.4B. Source: 10-K filed Feb 12, 2026.
Market cap
$115.0B
P/E
60.5
EV/EBITDA
34.4x
P/B
9.2
Div yield
0.85%
ROIC
11.5%
Revenue 1Y
19.1%/yr
EPS 1Y
215.5%/yr
Shares 1Y
+0.2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOWendell P. Weeks
HQCorning, NY
AuditorPricewaterhouseCoopers LLP
Employees67,200
Year endsDecember
Revenue by segment · FY25
Telecommunication Products40%
Display Products19%
Specialty Glass Products14%
Automotive Products11%
Life Science Products6%
Polycrystalline Silicon6%
Product And Service Other3%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
18.9%
28.3%
66.9%
52.2%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$4.6B deployed
Capex
$2.2B
49.3%
Dividends
$2.0B
43.5%
Buybacks
$328M
7.2%
Operating cash flow over the period: $4.6B. Total debt changed by +$745M. R&D of $1.6B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
13,118
15,629+19.1%
16,964
YoY
+19.1%
Gross profit
4,276
5,621+31.5%
6,171
Gross margin
32.6%
36.0%+3.4 pp
—
Operating income
1,135
2,279+100.8%
2,598
Operating margin
8.7%
14.6%+5.9 pp
—
EBITDA
2,364
3,516+48.7%
—
EBITDA margin
18.0%
22.5%+4.5 pp
—
Interest expense
329
336+2.1%
—
Interest coverage
7.19x
10.46x+3.28x
—
Net income
506
1,596+215.4%
1,900
YoY
+215.4%
Net margin
3.9%
10.2%+6.4 pp
—
EPS (diluted, $)
0.58
1.83+215.5%
2.19
YoY
+215.5%
Balance sheet
Total assets
27,735
30,976+11.7%
32,956
Cash & short-term investments
1,768
1,566−11.4%
—
Accounts receivable
2,053
2,779+35.4%
—
Inventory
2,724
3,077+13.0%
—
Net PP&E
13,359
14,825+11.0%
—
Other assets
7,831
8,729+11.5%
—
Total liabilities
17,049
19,169+12.4%
20,396
Accounts payable
1,472
1,979+34.4%
—
Total debt
6,885
7,630+10.8%
7,756
Other liabilities
8,692
9,560+10.0%
—
Shareholders’ equity
10,686
11,807+10.5%
12,560
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,939
2,695+39.0%
3,915
Net income
592
1,742+194.3%
—
Depreciation & amortization
1,229
1,237+0.7%
—
Stock-based compensation
273
286+4.8%
—
Working capital & other
(155)
(570)n/m
—
Cash from investing
(744)
(1,243)n/m
—
Capex
(965)
(1,282)n/m
—
Other investing
221
39−82.4%
—
Cash from financing
(1,164)
(1,672)n/m
—
Debt raised
153
294+92.2%
—
Debt repaid
(267)
(298)n/m
—
Dividends
(986)
(999)n/m
—
Buybacks
(165)
(163)n/m
—
Shares issued
76
41−46.1%
—
Other financing
25
(547)−2288.0%
—
Net change in cash
(11)
(202)n/m
—
Free cash flow (OCF − capex)
974
1,413+45.1%
2,395
Where the cash went
Operating cash flow
1,939
2,695+39.0%
3,915
Reinvested in the business
965
1,282+32.8%
—
% of operating cash flow
49.8%
47.6%
Capex
965
1,282+32.8%
1,520
R&D (memo, already in costs)
800
800+0.0%
—
Free cash flow
974
1,413+45.1%
2,395
YoY
+45.1%
Returned to shareholders
1,151
1,162+1.0%
—
% of free cash flow
118.2%
82.2%
Dividends
986
999+1.3%
—
Buybacks
165
163−1.2%
—
Change in total debt
—
745
—
Cash left over
—
996
—
FCF conversion (FCF ÷ net income)
192.5%
88.5%−104.0 pp
—
Owner earnings
—
979
—
Owner earnings margin
—
6.3%
—
Buyback yield
0.4%
0.2%−0.2 pp
—
Returns & ratios
ROIC (all capital)
5.2%
11.5%+6.3 pp
—
ROIC (operating)
5.0%
10.9%+6.0 pp
—
Net debt / EBITDA
2.16x
1.72x−0.44x
—
Debt / equity
0.64x
0.65x+0.00x
—
Cash conversion cycle (days)
109
105−4 d
—
ROE
4.7%
13.5%+8.8 pp
—
ROA
1.8%
5.2%+3.3 pp
—
ROCE
5.0%
9.0%+4.0 pp
—
NOPAT
826
1,935+134.1%
—
Invested capital (operating)
16,664
18,702+12.2%
—
Invested capital (all)
15,803
17,871+13.1%
—
Reinvestment rate
—
105.3%
—
Debtor days
57
65+8 d
—
Inventory days
112
112−0 d
—
Days payable
61
72+11 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
4,100
4,215
4,144
4,505
vs year-ago quarter
Gross profit
1,520
1,495
1,528
1,628
Gross margin
37.1%
35.5%
36.9%
36.1%
Operating income
589
672
639
698
Net income
430
540
371
559
vs year-ago quarter
Net margin
10.5%
12.8%
9.0%
12.4%
EPS (diluted, $)
0.50
0.62
0.43
0.64
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
29,916
30,976
31,253
32,956
Cash & equivalents
1,648
1,566
1,779
2,511
Total debt
7,407
7,630
7,718
7,756
Shareholders’ equity
11,536
11,807
11,812
12,560
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
784
1,052
362
1,717
Capex
334
432
332
422
Free cash flow
450
620
30
1,295
vs year-ago quarter