# Corning Incorporated (GLW) — Stock CV

Corning Incorporated is a $135B industrial company. Revenue grew 19.4% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~2.9 years of free cash flow. It trades at 71.0× earnings — around the middle of its own history.

> Corning is a provider of glass, ceramics, and optical fiber across six distinct end markets. Corning's largest segments by revenue are display glass for TVs and optical fiber for telecom networks and data centers.

## Identity

- **Ticker**: GLW
- **Sector**: Industrials
- **Industry**: Drawing & Insulating Of Nonferrous Wire
- **Headquarters**: CORNING, NY
- **Employees**: 67 200
- **Website**: https://www.corning.com
- **Market cap**: $135B
- **Last price**: $156.35
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $17.0B
- **Net income**: $1.90B
- **Free cash flow**: $2.40B
- **Net debt**: $6.88B
- **P/E**: 71.0
- **Revenue growth (YoY)**: 19.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 22 |
| Growth | 51 |
| Profitability | 72 |
| Health | 55 |
| Quality | 97 |
| Moat | 43 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +19.4% YoY
- [x] Profitable — $1.90B TTM
- [x] Profit growing — +6.1% YoY
- [x] Generates cash — $2.40B TTM
- [x] Debt under control — ~2.9y of cash flow to repay
- [x] Established company — $135B market cap
- [x] Not printing shares — -2.8% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 43/100
- [x] Pays a dividend — yield 0.73%
- [ ] Valuation not extreme — P/E 71.0

## Experience (career milestones)

- **FY2017** — Revenue crossed $10B: $10.1B for the year
- **FY2016** — First recorded profitable year: $3.69B net income
- **FY2016** — Revenue already above $1B: $9.39B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **FY2016** — Best year on record: $3.69B net income
- **1998** — The kitchenware division of Corning Inc. responsible for the development of Pyrex spun off from its parent…
- **1982** — Corning purchased a 6.5 percent stake in Genentech and
- **1971** — Corning terminated its windshield project in 1971, after it turned out to be one of the company's "biggest and most…
- **1968** — Plymouth Barracudas and Dodge Darts, Chemcor…
- **1962** — Corning developed Chemcor, a new toughened automobile windshield designed to be thinner and lighter than…
- **1938** — They spun off Owens Corning as an independent company in 1938
- **1915** — Corning created an improved heat resistant glass formula and launched Pyrex, the first-ever consumer…
- **1851** — Founded in 1851, the company was called Corning Glass Works for most of its history

## Strengths

- Revenue growing 19.4% year over year
- Interest covered 14.9× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $14.1B | $1.91B | $1.77B |
| FY2022 | $14.2B | $1.32B | $1.01B |
| FY2023 | $12.6B | $581M | $615M |
| FY2024 | $13.1B | $506M | $974M |
| FY2025 | $15.6B | $1.60B | $1.41B |

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Source: https://stockcv.com/GLW — derived from company filings; may be delayed or incomplete. Information, not investment advice.