Corning Incorporated (GLW) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.75	$0.78	+4.0%	—	—	—
Q2 26	$0.69	$0.7	+1.4%	—	—	—
Q1 26	$0.71	$0.72	+1.4%	—	—	—
Q4 25	$0.57	$0.6	+5.3%	—	—	—
Q3 25	$0.51	$0.54	+5.9%	—	—	—
Q2 25	$0.56	$0.57	+1.8%	—	—	—
Q1 25	$0.52	$0.54	+3.8%	—	—	—
Q4 24	$0.47	$0.47	0.0%	—	—	—
Q3 24	$0.35	$0.38	+8.6%	—	—	—
Q2 24	$0.41	$0.39	-4.9%	—	—	—
Q1 24	$0.47	$0.45	-4.3%	—	—	—
Q4 23	$0.45	$0.45	0.0%	—	—	—
Q3 23	$0.39	$0.41	+5.1%	—	—	—
Q2 23	$0.44	$0.47	+6.8%	—	—	—
Q1 23	$0.51	$0.51	0.0%	—	—	—
Q4 22	$0.56	$0.57	+1.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.87	—	—	$15.6B	—
FY24	—	$0.59	—	—	$13.1B	—
FY23	—	$0.69	—	—	$12.6B	—
FY22	—	$1.56	—	—	$14.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.4B	$10.1B	$11.3B	$11.5B	$11.3B	$14.1B	$14.2B	$12.6B	$13.1B	$15.6B
YoY change	+3.06%	+7.73%	+11.6%	+1.89%	-1.74%	+24.6%	+0.76%	-11.3%	+4.21%	+19.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.4B	10.1B	11.3B	11.5B	11.3B	14.1B	14.2B	12.6B	13.1B	15.6B
Cost of revenue	5.6B	6.1B	6.8B	7.5B	7.8B	9B	9.7B	8.7B	8.8B	10B
Gross profit	3.8B	4B	4.5B	4B	3.5B	5.1B	4.5B	3.9B	4.3B	5.6B
Gross margin	40.1%	39.7%	39.5%	35.1%	31.2%	36%	31.8%	31.2%	32.6%	36%
Research & development	736M	864M	993M	1B	1.2B	995M	1B	1.1B	1.1B	1.1B
Selling, general & administrative	1.5B	1.5B	1.8B	1.6B	1.7B	1.8B	1.9B	1.8B	1.9B	2.1B
Operating expenses	2.2B	2.3B	2.8B	2.6B	2.9B	2.8B	2.9B	2.9B	3B	3.2B
Operating income	1.5B	1.6B	1.6B	1.3B	509M	2.1B	1.4B	890M	1.1B	2.3B
Operating margin	16%	15.9%	14%	11.4%	4.5%	15%	10.1%	7.07%	8.65%	14.6%
Non-operating income, net	2.3B	159M	81M	110M	375M	603M	636M	217M	-40M	71M
Pretax income	3.7B	1.7B	1.5B	1.2B	623M	2.4B	1.8B	816M	813M	2.1B
Income tax	-3M	2.2B	437M	256M	111M	491M	411M	168M	221M	310M
Net income	3.7B	-497M	1.1B	960M	512M	1.9B	1.4B	648M	592M	1.7B
Net margin	39.4%	-4.91%	9.44%	8.35%	4.53%	13.7%	9.77%	5.15%	4.51%	11.1%
EBITDA	2.9B	3.1B	3.1B	2.7B	2B	3.9B	3.2B	2.4B	2.4B	3.6B
EPS	3.53	-0.66	1.19	1.11	0.54	1.3	1.56	0.69	0.59	1.87
Diluted EPS	3.23	-0.66	1.13	1.07	0.54	1.28	1.54	0.68	0.58	1.83

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.2B	3B	3B	3.3B	3.4B	3.5B	3.5B	3.9B	4.1B	4.2B	4.1B	4.5B
Cost of revenue	2.2B	2.1B	2B	2.3B	2.3B	2.3B	2.2B	2.5B	2.6B	2.7B	2.6B	2.9B
Gross profit	1B	911M	993M	949M	1.1B	1.2B	1.2B	1.4B	1.5B	1.5B	1.5B	1.6B
Gross margin	31.6%	30.4%	33.4%	29.2%	33.5%	34.2%	35.2%	36%	37.1%	35.5%	36.9%	36.1%
Research & development	270M	289M	258M	262M	294M	275M	270M	276M	280M	284M	278M	299M
Selling, general & administrative	468M	514M	451M	471M	510M	499M	471M	515M	624M	512M	588M	608M
Operating expenses	738M	803M	709M	733M	804M	774M	741M	791M	904M	796M	866M	907M
Operating income	236M	78M	254M	186M	302M	393M	445M	573M	589M	672M	639M	698M
Operating margin	7.44%	2.61%	8.54%	5.72%	8.91%	11.2%	12.9%	14.8%	14.4%	15.9%	15.4%	15.5%
Non-operating income, net	53M	-39M	113M	60M	-323M	110M	-135M	89M	29M	88M	-27M	33M
Pretax income	217M	-38M	296M	172M	-92M	437M	240M	584M	550M	678M	529M	649M
Income tax	35M	-10M	71M	50M	3M	97M	55M	84M	80M	91M	121M	40M
Net income	182M	-28M	225M	122M	-95M	340M	185M	500M	470M	587M	408M	609M
Net margin	5.74%	-0.94%	7.56%	3.75%	-2.8%	9.71%	5.36%	12.9%	11.5%	13.9%	9.85%	13.5%
EBITDA	619M	364M	677M	566M	489M	677M	742M	876M	932M	1B	994M	1B
EPS	0.19	-0.05	0.25	0.12	-0.14	0.36	0.18	0.55	0.5	0.63	0.43	0.65
Diluted EPS	0.19	-0.05	0.24	0.12	-0.14	0.36	0.18	0.54	0.5	0.62	0.43	0.64

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	24.7B	22.6B	27.4B	30.8B	26.9B	25.8B	40.5B	74.9B	130.3B
Enterprise value	—	—	28.3B	28.4B	33.4B	36.5B	33.1B	32.5B	46.9B	82.7B	142.5B
Shares outstanding	1B	895M	816M	776M	761M	828M	843M	848M	853M	855M	855M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	23.1	23.5	53.5	15.9	19.4	39.8	68.5	43	70.4
P/S	—	—	2.18	1.96	2.42	2.19	1.9	2.05	3.09	4.79	7.7
P/B	—	—	1.78	1.74	2.04	2.46	2.19	2.18	3.66	6.08	11
EV/EBITDA	—	—	9.19	10.6	17.1	9.48	10.4	13.8	19.5	23.1	34.9
EV/Sales	—	—	2.51	2.47	2.96	2.59	2.33	2.58	3.57	5.29	8.4
Earnings yield	—	—	4.32%	4.25%	1.87%	6.28%	5.15%	2.51%	1.46%	2.33%	1.42%
FCF yield	—	—	2.47%	0.23%	2.93%	5.76%	3.75%	2.38%	2.4%	1.89%	0.56%
PEG	—	—	—	—	—	—	—	—	—	—	3.87

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	40.1%	39.7%	39.5%	35.1%	31.2%	36%	31.8%	31.2%	32.6%	36%	36.1%
Operating margin	16%	15.9%	14%	11.4%	4.5%	15%	10.1%	7.07%	8.65%	14.6%	15.6%
Net margin	39.4%	-4.91%	9.44%	8.35%	4.53%	13.7%	9.77%	5.15%	4.51%	11.1%	11.2%
ROE	20.6%	-3.15%	7.68%	7.39%	3.81%	15.4%	11.3%	5.46%	5.35%	14.2%	16.8%
ROA	13.2%	-1.81%	3.88%	3.32%	1.66%	6.42%	4.7%	2.27%	2.13%	5.62%	5.37%
ROIC	9.06%	0%	6.37%	5.48%	2.15%	9.24%	6.02%	3.81%	4.75%	9.6%	11.2%
Return on tangible assets	16%	-2.22%	5.06%	4.24%	2.2%	8.41%	6.12%	2.95%	2.75%	7.06%	7.74%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.29	2.75	2.12	2.12	2.12	1.59	1.44	1.67	1.62	1.59	1.81
Quick ratio	2.75	2.22	1.51	1.46	1.48	1.08	0.88	1.05	1.07	1.04	1.24
Debt / equity	0.22	0.33	0.43	0.63	0.65	0.62	0.64	0.71	0.73	0.76	0.71
Debt / assets	0.14	0.19	0.22	0.29	0.28	0.26	0.26	0.3	0.29	0.3	0.28
Net debt / EBITDA	-0.48	0.26	1.18	2.16	3.08	1.47	1.93	2.85	2.62	2.19	1.72
Interest coverage	24.2	11.7	8.87	6.5	3.26	9.09	7.15	3.48	3.47	7.11	7.74
Effective tax rate	0%	100%	29.1%	21.1%	17.8%	20.2%	22.9%	20.6%	27.2%	15.1%	13.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.21	11.3	13.8	14.8	14.9	17	16.8	14.8	15.4	18.3	19.8
EPS (basic)	3.53	-0.66	1.19	1.11	0.54	1.3	1.56	0.69	0.59	1.87	1.87
EPS (diluted)	3.23	-0.66	1.13	1.07	0.54	1.28	1.54	0.68	0.58	1.83	2.16
Book value per share	17.6	17.6	17	16.7	17.7	15.2	14.6	14	13	14.4	13.9
FCF per share	1.38	0.22	0.75	0.07	1.06	2.14	1.2	0.73	1.14	1.65	2.74
Cash per share	5.19	4.82	2.89	3.14	3.51	2.59	1.98	2.1	2.07	1.78	2.91
Capex per share	—	—	0.06	0.1	—	—	—	0.08	—	1.5	1.74

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	0.43%	0.68%	—	—	—	0.53%	—	8.2%	8.96%
Capex / operating cash flow	—	—	1.64%	3.61%	—	—	—	3.8%	—	47.6%	38.8%
Payout ratio	17.5%	-131%	64.3%	77.3%	153.7%	45%	67.2%	152.6%	166.6%	57.3%	51.6%
Dividend yield	—	—	2.78%	3.28%	2.87%	2.83%	3.46%	3.83%	2.43%	1.33%	0.74%

Yield

0.74%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.28

ex-dividend Aug 31, 2026

Payout ratio

52%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.28
May 29, 2026	$0.28
Feb 27, 2026	$0.28

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.2B	$3B	$3B	$3.3B	$3.4B	$3.5B	$3.5B	$3.9B	$4.1B	$4.2B	$4.1B	$4.5B
YoY change	-9.03%	-12.1%	-6.39%	+0.25%	+6.87%	+16.9%	+16%	+18.8%	+20.9%	+20.4%	+20%	+16.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	5.3B	4.3B	2.4B	2.4B	2.7B	2.1B	1.7B	1.8B	1.8B	1.5B
Receivables	1.5B	1.8B	1.9B	1.8B	2.1B	2B	1.7B	1.6B	2.1B	2.8B
Inventory	1.5B	1.7B	2B	2.3B	2.4B	2.5B	2.9B	2.7B	2.7B	3.1B
Total current assets	9B	8.8B	7B	7.5B	8B	7.7B	7.5B	7.2B	8B	8.9B
Property, plant & equipment	7B	8.2B	9B	9.8B	10B	31.6B	31.1B	9.6B	8.5B	9.4B
Goodwill & intangibles	4.7B	5.1B	6.5B	6.2B	7.5B	7.1B	6.8B	6.6B	6.2B	6.3B
Total assets	27.9B	27.5B	27.5B	28.9B	30.8B	30.2B	29.5B	28.5B	27.7B	31B
Accounts payable	1.1B	1.4B	1.5B	1.6B	1.2B	1.6B	1.8B	1.5B	1.5B	2B
Short-term debt	256M	379M	4M	73M	252M	149M	335M	432M	421M	901M
Total current liabilities	2.8B	3.2B	3.3B	3.5B	3.8B	4.8B	5.2B	4.3B	4.9B	5.6B
Long-term debt	3.6B	4.7B	6B	8.2B	8.4B	7.7B	7.5B	8.1B	7.7B	8.5B
Total liabilities	9.9B	11.7B	13.6B	15.9B	17.3B	17.6B	17.2B	16.6B	16.7B	18.7B
Shareholders' equity	18B	15.8B	13.9B	13B	13.4B	12.5B	12.3B	11.9B	11.1B	12.3B
Total debt	3.9B	5.1B	6B	8.3B	8.7B	7.8B	7.8B	8.5B	8.1B	9.4B
Net debt	-1.4B	811M	3.6B	5.8B	6B	5.7B	6.1B	6.7B	6.3B	7.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.6B	1.8B	1.4B	1.4B	1.6B	1.8B	1.4B	1.5B	1.6B	1.5B	1.8B	2.5B
Receivables	1.7B	1.6B	1.6B	1.7B	2B	2.1B	2B	2.3B	2.5B	2.8B	2.7B	2.9B
Inventory	2.7B	2.7B	2.7B	2.7B	2.8B	2.7B	2.9B	3.1B	3.1B	3.1B	3.3B	3.4B
Total current assets	7.3B	7.2B	7B	7.1B	7.7B	8B	7.6B	8.2B	8.7B	8.9B	9.5B	10.9B
Property, plant & equipment	-14.3B	9.6B	-14.4B	-14.6B	-15.1B	8.5B	-14.5B	-15B	-15.2B	9.4B	15.6B	15.8B
Goodwill & intangibles	6.6B	6.6B	6.5B	6.4B	6.4B	6.2B	6.2B	6.4B	6.3B	6.3B	6.2B	6.2B
Total assets	28.3B	28.5B	27.6B	27.2B	28.3B	27.7B	27.4B	28.7B	29.9B	31B	31.3B	33B
Accounts payable	1.5B	1.5B	1.5B	1.5B	1.6B	1.5B	1.7B	1.9B	2B	2B	2.3B	2.4B
Short-term debt	405M	432M	421M	468M	428M	421M	373M	887M	904M	901M	1.4B	758M
Total current liabilities	4.3B	4.3B	4.2B	4.5B	4.6B	4.9B	4.5B	5.5B	5.6B	5.6B	5.9B	6B
Long-term debt	8.1B	8.1B	7.9B	7.7B	7.9B	7.7B	7.8B	7.6B	8.3B	8.5B	8.6B	8.6B
Total liabilities	16.5B	16.6B	16.1B	16.3B	16.9B	16.7B	16.3B	17.2B	17.9B	18.7B	18.9B	19.8B
Shareholders' equity	11.7B	11.9B	11.6B	10.9B	11.5B	11.1B	11.1B	11.5B	12B	12.3B	12.3B	13.1B
Total debt	8.5B	8.5B	8.3B	8.2B	8.3B	8.1B	8.2B	8.5B	9.2B	9.4B	9.9B	9.4B
Net debt	6.8B	6.7B	6.9B	6.8B	6.7B	6.3B	6.8B	7B	7.5B	7.9B	8.2B	6.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	3.7B	-497M	1.1B	960M	512M	1.9B	1.4B	648M	592M	1.7B
Depreciation & amortization	1.2B	1.2B	1.3B	1.5B	1.5B	1.5B	1.5B	1.4B	1.4B	1.3B
Stock-based compensation	42M	46M	51M	56M	207M	190M	175M	218M	273M	286M
Change in working capital	119M	-325M	-56M	-389M	217M	303M	-138M	-158M	-558M	-460M
Operating cash flow	2.3B	2.4B	3B	2.2B	2.3B	3.8B	2.8B	1.8B	1.8B	2.7B
Capital expenditure	—	—	-49M	78M	—	—	—	67M	—	-1.3B
Investing cash flow	4.8B	94M	-645M	87M	67M	218M	249M	390M	221M	-1.2B
Dividends paid	-645M	-651M	-685M	-742M	-787M	-871M	-932M	-989M	-986M	-999M
Share repurchases	-4.2B	-2.5B	-2.2B	-940M	-105M	-781M	-728M	-507M	-165M	-163M
Financing cash flow	-6B	-2.2B	-2.7B	1.7B	-710M	-2.7B	-1.7B	-925M	-1.2B	-1.7B
Net change in cash	1.1B	284M	-354M	4B	1.7B	1.4B	1.4B	1.2B	819M	-261M
Free cash flow	1.4B	200M	609M	53M	803M	1.8B	1B	615M	974M	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	182M	-28M	225M	122M	-95M	340M	185M	500M	470M	587M	408M	609M
Depreciation & amortization	340M	345M	337M	337M	341M	335M	319M	340M	337M	351M	357M	391M
Stock-based compensation	57M	50M	60M	66M	76M	71M	54M	63M	99M	70M	115M	135M
Change in working capital	146M	197M	-377M	-152M	101M	-130M	-464M	-168M	-85M	257M	-565M	591M
Operating cash flow	666M	415M	257M	435M	364M	782M	7M	807M	784M	1.1B	362M	1.7B
Capital expenditure	0	0	—	—	—	—	—	—	-334M	-432M	-332M	-422M
Investing cash flow	86M	75M	68M	88M	18M	145M	43M	7M	-333M	-222M	-203M	-257M
Dividends paid	-246M	-248M	-243M	-252M	-242M	-249M	-242M	-261M	-241M	-255M	-244M	-251M
Share repurchases	0	0	—	—	-30M	-30M	-100M	-33M	-25M	-5M	—	—
Financing cash flow	-467M	-336M	-321M	-220M	-508M	-239M	-414M	-579M	-343M	-662M	45M	-1.1B
Net change in cash	285M	154M	4M	303M	-126M	688M	-364M	235M	108M	168M	204M	320M
Free cash flow	381M	434M	-156M	279M	482M	369M	-57M	400M	450M	620M	30M	1.3B

Date	Ratio
Oct 4, 2000	3:1
Feb 11, 1992	2:1
Feb 15, 1989	2:1
Feb 13, 1985	2:1

Corning Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history