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GLW · NYSE

Corning Incorporated

Electronic Components · United States

USD 120.467.4% daily changeQuote 2026-11-11 · USD
Market cap (USD)
US$103.76B
Trailing P/E
48.77x
Forward P/E
26.52x
Quarterly revenue growth
18.4%
Trailing net margin
12.1%
Indicated dividend yield
0.9%

Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2027-01-26 (provider estimate; issuer confirmation unavailable here).

Company background

Corning Incorporated operates in optical communications, display, specialty materials, automotive, and life sciences businesses in the United States, Canada, Mexico, Japan, Taiwan, China, South Korea, Germany, and internationally. The company provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. It also offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. In addition, it manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for markets, such as mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. Further, the company provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications, as well as technical glass and optic products and solutions for the interior and exterior of vehicles. Additionally, it offers laboratory products, including plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Falcon, PYREX, and Axygen brands. It also offers polysilicon products and pharmaceutical glass tubing and vials. 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.

Company website

Q3 2026

Go beyond the headline.

GLW Stock: Customers Fund the Factories—Who Keeps the Cash? — Q3 2026

Published 2026-11-03

Q3 2026 REPORT HIGHLIGHTS

What’s changed for GLW

Optical sales grew 44%, but Corning’s cash, hedge adjustments and customer-funded capacity determine what the growth is worth.

  1. Optical is doing the heavy lifting.

    Sales rose 44% and segment net income rose 80%; optical supplied a computed 89.9% of the total increase in core sales.

  2. Core comparability changed in April.

    Contractual hedge rates now apply only to exposure actually hedged; historical constant-currency results were not rewritten under that methodology.

  3. Cash flow has three different answers.

    Q3 operating cash flow less capex was $516M; adding $145M hedge receipts gives reported adjusted FCF of $661M; also subtracting $43M hedge premiums gives a $618M analytical cash view.

  4. Customer funding reduces risk and creates obligations.

    The nine-month deposit/incentive cash movement was +$639M, while Q3 alone was −$70M. Earlier cash becomes a credit against later customer receivables.

  5. The next hurdle is profitable capacity absorption.

    Q4 core guidance is $5.2–5.3B sales and $0.96–1.00 EPS. Solar’s ramp and recurring cash conversion must validate the ambitious long-term plan.

Comparable businesses

GLW peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.

Market metrics · missing or inapplicable values shown as —
MetricGLWCorning IncorporatedSnapshot 2026-11-11Financial period: 2026-09-30
Market capMarket value, converted to USDUS$103.76B
Forward P/EProvider forward earnings estimate26.52x
EV / EBITDAEnterprise value / trailing EBITDA23.27x
Revenue growthLatest quarter vs prior-year quarter18.4%
Operating marginLatest reported quarter16.8%
Free cash flow yieldTrailing cash flow / market cap0.8%
Net debt / EBITDANet debt / trailing EBITDA1.49x
Debt / equityTotal debt / positive book equity0.64x
Trailing P/ETrailing twelve-month earnings48.77x
Price / bookPrice / positive book equity per share7.98x
EV / salesEnterprise value / trailing revenue5.86x
Earnings growthLatest quarter vs prior-year quarter56.0%
Gross marginTrailing twelve months36.5%
Net marginTrailing twelve months12.1%
Return on equityProvider trailing return; positive equity only17.9%
Free cash flow marginTrailing free cash flow / revenue4.9%
Dividend yieldIndicated annual dividend / price0.9%
Earnings payoutProvider trailing dividend payout45.3%
Current ratioCurrent assets / current liabilities1.72x
BetaProvider historical market sensitivity1.23

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

Reported performance

Financial trends

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Market context

Valuation & price history

Adjusted closing price

Price history

Price history loads separately.

Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for GLW

All available reporting periods
Q3 20262026-11-03
Q2 20262026-07-29
Q1 20262026-04-29
Q4 20252026-04-15

GLW Stock: $4.4B Revenue — Q4 2025 Earnings Analysis

Presentation · 2026-04-15 · YouTube

GLW Stock: $4.4B Revenue — Q4 2025 Earnings Analysis

Presentation · 2026-04-15 · YouTube

Reported figures

Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.