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Corning (GLW) Financials

Corning logo
$68.92 +1.67 (+2.48%)
Closing price 03:59 PM Eastern
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$68.95 +0.03 (+0.04%)
As of 04:13 PM Eastern
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Annual Income Statements for Corning

Annual Income Statements for Corning

This table shows Corning's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 2,472 1,339 3,695 -497 1,066 862 414 1,079 1,316 581 506
Consolidated Net Income / (Loss)		 2,472 1,339 3,695 -497 1,066 960 523 1,935 1,386 648 592
Net Income / (Loss) Continuing Operations		 2,472 1,339 3,695 -497 1,066 960 523 1,935 1,386 648 592
Total Pre-Tax Income 		3,568 1,486 3,692 1,657 1,503 1,216 634 2,426 1,797 816 813
Total Operating Income		 1,931 1,322 1,424 1,608 1,575 1,306 509 2,112 1,438 890 1,135
Total Gross Profit		 4,052 3,653 3,763 4,020 4,461 4,035 3,531 5,063 4,506 3,931 4,276
Total Revenue		 9,715 9,111 9,390 10,116 11,290 11,503 11,303 14,082 14,189 12,588 13,118
Operating Revenue		 9,715 9,111 9,390 10,116 11,290 11,503 11,303 14,082 14,189 12,588 13,118
Total Cost of Revenue		 5,663 5,458 5,627 6,096 6,829 7,468 7,772 9,019 9,683 8,657 8,842
Operating Cost of Revenue		 5,663 5,458 5,627 6,096 6,829 7,468 7,772 9,019 9,683 8,657 8,842
Total Operating Expenses		 2,121 2,331 2,339 2,412 2,886 2,729 3,022 2,951 3,068 3,041 3,141
Selling, General & Admin Expense		 1,202 1,508 1,462 1,473 1,799 1,585 1,747 1,827 1,898 1,843 1,931
Research & Development Expense		 815 769 736 864 993 1,031 1,154 995 1,047 1,076 1,089
Amortization Expense		 33 54 64 75 94 113 121 129 123 122 121
Total Other Income / (Expense), net		 1,637 164 2,268 49 -72 -90 125 314 359 -74 -322
Interest Expense		 123 140 159 155 191 221 276 300 292 329 329
Interest & Investment Income		 292 320 2,992 406 428 38 15 11 15 38 47
Other Income / (Expense), net		 1,468 -16 -565 -202 -309 93 386 603 636 217 -40
Income Tax Expense		 1,096 147 -3.00 2,154 437 256 111 491 411 168 221
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - - 11 29 70 67 86
Basic Earnings per Share		 $1.82 $1.02 $3.53 ($0.66) $1.19 $1.11 $0.54 $1.30 $1.56 $0.69 $0.59
Weighted Average Basic Shares Outstanding		 1.31B 1.31B 1.02B 753M 895.80M 763.63M 768.37M 845.85M 846.56M 853.47M 856.56M
Diluted Earnings per Share		 $1.73 $1.00 $3.23 ($0.66) $1.13 $1.07 $0.54 $1.28 $1.54 $0.68 $0.58
Weighted Average Diluted Shares Outstanding		 1.31B 1.31B 1.02B 753M 895.80M 763.63M 768.37M 845.85M 846.56M 853.47M 856.56M
Weighted Average Basic & Diluted Shares Outstanding		 1.31B 1.31B 1.02B 753M 895.80M 763.63M 768.37M 845.85M 846.56M 853.47M 856.56M
Cash Dividends to Common per Share		 $0.52 $0.36 $0.54 $0.62 $0.72 $0.80 $0.88 $0.96 $1.08 $1.12 $1.12

Quarterly Income Statements for Corning

This table shows Corning's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 -36 176 281 164 -40 209 104 -117 310 157 469
Consolidated Net Income / (Loss)		 -27 191 303 182 -28 225 122 -95 340 185 500
Net Income / (Loss) Continuing Operations		 -27 191 303 182 -28 225 122 -95 340 185 500
Total Pre-Tax Income 		4.00 228 409 217 -38 296 172 -92 437 240 584
Total Operating Income		 86 297 279 236 78 254 186 302 393 445 573
Total Gross Profit		 915 1,003 1,013 1,004 911 993 949 1,137 1,197 1,214 1,392
Total Revenue		 3,406 3,178 3,243 3,173 2,994 2,975 3,251 3,391 3,501 3,452 3,862
Operating Revenue		 3,406 3,178 3,243 3,173 2,994 2,975 3,251 3,391 3,501 3,452 3,862
Total Cost of Revenue		 2,491 2,175 2,230 2,169 2,083 1,982 2,302 2,254 2,304 2,238 2,470
Operating Cost of Revenue		 2,491 2,175 2,230 2,169 2,083 1,982 2,302 2,254 2,304 2,238 2,470
Total Operating Expenses		 829 706 734 768 833 739 763 835 804 769 819
Selling, General & Admin Expense		 517 421 440 468 514 451 471 510 499 471 515
Research & Development Expense		 281 254 263 270 289 258 262 294 275 270 276
Amortization Expense		 31 31 31 30 30 30 30 31 30 28 28
Total Other Income / (Expense), net		 -82 -69 130 -19 -116 42 -14 -394 44 -205 11
Interest Expense		 76 76 81 82 90 83 84 83 79 82 83
Interest & Investment Income		 6.00 7.00 8.00 10 13 12 10 12 13 12 5.00
Other Income / (Expense), net		 -12 0.00 203 53 -39 113 60 -323 110 -135 89
Income Tax Expense		 31 37 106 35 -10 71 50 3.00 97 55 84
Net Income / (Loss) Attributable to Noncontrolling Interest		 9.00 15 22 18 12 16 18 22 30 28 31
Basic Earnings per Share		 ($0.05) $0.21 $0.33 $0.19 ($0.04) $0.25 $0.12 ($0.14) $0.36 $0.18 $0.55
Weighted Average Basic Shares Outstanding		 846.56M 850.13M 852.98M 853.17M 853.47M 856.62M 855.70M 856.21M 856.56M 856.47M 856.62M
Diluted Earnings per Share		 ($0.04) $0.20 $0.33 $0.19 ($0.04) $0.24 $0.12 ($0.14) $0.36 $0.18 $0.54
Weighted Average Diluted Shares Outstanding		 846.56M 850.13M 852.98M 853.17M 853.47M 856.62M 855.70M 856.21M 856.56M 856.47M 856.62M
Weighted Average Basic & Diluted Shares Outstanding		 846.56M 850.13M 852.98M 853.17M 853.47M 856.62M 855.70M 856.21M 856.56M 856.47M 856.62M
Cash Dividends to Common per Share		 - $0.28 $0.56 - - $0.28 $0.56 - - $0.28 $0.56

Annual Cash Flow Statements for Corning

This table details how cash moves in and out of Corning's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 605 -809 791 -974 -1,963 79 238 -524 -477 108 -11
Net Cash From Operating Activities		 4,709 2,829 2,537 2,004 2,919 2,031 2,180 3,412 2,615 2,005 1,939
Net Cash From Continuing Operating Activities		 4,709 2,829 2,537 2,004 2,919 1,944 2,180 3,412 2,615 2,005 1,939
Net Income / (Loss) Continuing Operations		 2,472 1,339 3,695 -497 1,066 960 523 1,935 1,386 648 592
Consolidated Net Income / (Loss)		 2,472 1,339 3,695 -497 1,066 960 523 1,935 1,386 648 592
Depreciation Expense		 1,167 1,130 1,131 1,083 1,199 1,390 1,399 1,352 1,329 1,247 1,229
Amortization Expense		 33 54 64 75 94 113 121 129 123 122 121
Non-Cash Adjustments To Reconcile Net Income		 577 229 -2,164 -128 654 41 24 -221 -68 169 368
Changes in Operating Assets and Liabilities, net		 460 77 -189 1,471 -94 -560 113 217 -155 -181 -371
Net Cash From Investing Activities		 -962 -685 3,662 -1,710 -2,887 -1,891 -1,310 -1,419 -1,355 -1,000 -744
Net Cash From Continuing Investing Activities		 -962 -685 3,662 -1,710 -2,887 -1,969 -1,310 -1,419 -1,355 -1,000 -744
Purchase of Property, Plant & Equipment		 -1,076 -1,250 -1,130 -1,804 -2,310 -1,978 -1,377 -1,637 -1,604 -1,390 -965
Purchase of Investments		 -1,398 -969 -20 - - - -9.00 -48 -75 -9.00 -98
Sale of Property, Plant & Equipment		 - - - - - 0.00 37 0.00 0.00 67 0.00
Divestitures		 0.00 12 0.00 - 0.00 0.00 0.00 103 76 0.00 0.00
Sale and/or Maturity of Investments		 1,528 2,282 322 270 108 55 12 67 300 326 279
Other Investing Activities, net		 27 -28 4,823 -5.00 157 -46 27 96 -52 6.00 40
Net Cash From Financing Activities		 -2,586 -2,623 -5,322 -1,624 -1,995 -47 -729 -2,452 -1,649 -883 -1,164
Net Cash From Continuing Financing Activities		 -2,586 -2,623 -5,322 -1,624 -1,995 -47 -729 -2,452 -1,649 -883 -1,164
Repayment of Debt		 -58 -18 -572 -275 -649 -300 -193 -858 -109 -323 -295
Repurchase of Preferred Equity		 - - - - - 0.00 0.00 -507 -507 -507 0.00
Repurchase of Common Equity		 -2,483 -3,228 -4,227 -2,452 -2,227 -940 -105 -274 -221 0.00 -165
Payment of Dividends		 -591 -679 -645 -651 -685 -742 -787 -871 -932 -989 -986
Issuance of Debt		 30 1,230 0.00 1,445 1,485 1,894 243 22 127 1,000 153
Other Financing Activities, net		 116 72 122 309 81 41 113 36 -7.00 -64 129
Effect of Exchange Rate Changes		 -556 -330 -86 - - - 97 -65 -88 -14 -42

Quarterly Cash Flow Statements for Corning

This table details how cash moves in and out of Corning's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 41 -525 392 101 140 -414 54 194 155 -409 132
Net Cash From Operating Activities		 617 -49 619 722 713 96 521 699 623 151 708
Net Cash From Continuing Operating Activities		 617 -49 619 722 713 96 521 699 623 151 708
Net Income / (Loss) Continuing Operations		 -27 191 303 182 -28 225 122 -95 340 185 500
Consolidated Net Income / (Loss)		 -27 191 303 182 -28 225 122 -95 340 185 500
Depreciation Expense		 315 310 312 310 315 307 307 310 305 291 312
Amortization Expense		 31 31 31 30 30 30 30 31 30 28 28
Non-Cash Adjustments To Reconcile Net Income		 21 5.00 -13 40 137 -85 159 477 -142 182 23
Changes in Operating Assets and Liabilities, net		 277 -586 -14 160 259 -381 -97 -24 90 -535 -155
Net Cash From Investing Activities		 -386 -228 -287 -255 -230 -184 -154 -199 -207 -165 -301
Net Cash From Continuing Investing Activities		 -386 -228 -287 -255 -230 -184 -154 -199 -207 -165 -301
Purchase of Property, Plant & Equipment		 -403 -382 -388 -341 -279 -252 -242 -217 -254 -208 -308
Sale and/or Maturity of Investments		 91 81 96 93 56 94 74 71 40 56 51
Other Investing Activities, net		 2.00 6.00 5.00 -7.00 2.00 -26 14 -53 105 -13 -44
Net Cash From Financing Activities		 -219 -248 84 -356 -363 -308 -304 -332 -220 -403 -293
Net Cash From Continuing Financing Activities		 -219 -248 84 -356 -363 -308 -304 -332 -220 -403 -293
Repayment of Debt		 -5.00 -63 -27 -170 -63 -44 -12 -218 -21 -67 -244
Repurchase of Common Equity		 - - - - - 0.00 - -30 -30 -100 -33
Payment of Dividends		 -236 -239 -256 -246 -248 -243 -252 -242 -249 -242 -261
Other Financing Activities, net		 2.00 0.00 -64 - - -21 65 5.00 80 6.00 -40

Annual Balance Sheets for Corning

This table presents Corning's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 30,063 28,527 27,899 27,494 27,505 28,898 30,775 30,154 29,499 28,500 27,735
Total Current Assets		 10,238 8,269 9,048 8,827 7,034 7,463 8,004 7,659 7,453 7,212 7,992
Cash & Equivalents		 5,309 4,500 5,291 4,317 2,355 2,434 2,672 2,148 1,671 1,779 1,768
Accounts Receivable		 1,501 1,372 1,481 1,807 1,940 1,836 2,133 2,004 1,721 1,572 2,053
Inventories, net		 1,322 1,385 1,471 1,712 2,037 2,320 2,438 2,481 2,904 2,666 2,724
Other Current Assets		 1,099 912 805 991 702 873 761 1,026 1,157 1,195 1,447
Plant, Property, & Equipment, net		 12,766 12,648 12,546 14,017 14,895 15,337 15,742 15,804 15,371 14,630 13,359
Total Noncurrent Assets		 7,059 7,610 6,305 4,650 5,576 6,098 7,029 6,691 6,675 6,658 6,384
Goodwill		 1,150 1,380 1,577 1,694 1,936 1,935 2,460 2,421 2,394 2,380 2,363
Intangible Assets		 497 706 796 869 1,292 1,185 1,308 1,148 1,029 905 752
Noncurrent Deferred & Refundable Income Taxes		 1,889 2,056 2,325 813 951 1,157 1,121 1,066 1,073 1,153 1,130
Other Noncurrent Operating Assets		 1,722 1,493 1,271 934 1,021 1,821 2,140 2,056 2,179 2,220 2,139
Total Liabilities & Shareholders' Equity		 30,063 28,527 27,899 27,494 27,505 28,898 30,775 30,154 29,499 28,500 27,735
Total Liabilities		 8,411 9,664 9,939 11,724 13,619 15,901 17,327 17,609 17,224 16,632 16,665
Total Current Liabilities		 2,324 2,814 2,751 3,209 3,311 3,521 3,767 4,806 5,175 4,319 4,919
Short-Term Debt		 36 572 256 379 4.00 11 156 55 224 320 326
Accounts Payable		 997 934 1,079 1,439 1,456 1,587 1,174 1,612 1,804 1,466 1,472
Accrued Expenses		 1,291 1,308 1,416 1,391 1,851 1,923 2,437 3,139 3,147 2,533 3,121
Total Noncurrent Liabilities		 6,087 6,850 7,188 8,515 10,308 12,380 13,560 12,803 12,049 12,313 11,746
Long-Term Debt		 3,227 3,890 3,646 4,749 5,994 7,729 7,816 6,989 6,687 7,206 6,885
Noncurrent Employee Benefit Liabilities		 814 718 737 749 662 671 727 622 407 398 336
Other Noncurrent Operating Liabilities		 2,046 2,242 2,805 3,017 3,652 3,980 5,017 5,192 4,955 4,709 4,525
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 21,652 18,863 17,960 15,770 13,886 12,997 13,448 12,545 12,275 11,868 11,070
Total Preferred & Common Equity		 21,579 18,788 17,893 15,698 13,792 12,907 13,257 12,333 12,008 11,551 10,686
Total Common Equity		 19,279 16,488 15,593 13,398 11,492 10,607 10,957 12,333 12,008 11,551 10,686
Common Stock		 14,292 14,192 14,541 14,943 15,069 15,182 15,505 17,382 17,592 17,845 18,185
Retained Earnings		 13,021 13,832 16,880 15,930 16,303 16,408 16,120 16,389 16,778 16,391 15,926
Treasury Stock		 -6,727 -9,725 -14,152 -16,633 -18,870 -19,812 -19,928 -20,263 -20,532 -20,637 -20,882
Accumulated Other Comprehensive Income / (Loss)		 -1,307 -1,811 -1,676 -842 -1,010 -1,171 -740 -1,175 -1,830 -2,048 -2,543
Noncontrolling Interest		 73 75 67 72 94 90 191 212 267 317 384

Quarterly Balance Sheets for Corning

This table presents Corning's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 29,499 28,822 28,645 28,278 28,500 27,618 27,179 28,322 27,735 27,394 28,745
Total Current Assets		 7,453 6,877 7,293 7,298 7,212 6,971 7,121 7,676 7,992 7,644 8,196
Cash & Equivalents		 1,671 1,146 1,538 1,639 1,779 1,365 1,419 1,613 1,768 1,359 1,491
Accounts Receivable		 1,721 1,688 1,674 1,725 1,572 1,621 1,721 1,986 2,053 2,045 2,298
Inventories, net		 2,904 2,863 2,757 2,655 2,666 2,713 2,682 2,793 2,724 2,896 3,084
Other Current Assets		 1,157 1,180 1,324 1,279 1,195 1,272 1,299 1,284 1,447 1,344 1,323
Plant, Property, & Equipment, net		 15,371 15,137 14,681 14,407 14,630 14,199 13,742 14,059 13,359 13,360 13,881
Total Noncurrent Assets		 6,675 6,808 6,671 6,573 6,658 6,448 6,316 6,587 6,384 6,390 6,668
Goodwill		 2,394 2,394 2,382 2,372 2,380 2,370 2,365 2,390 2,363 2,371 2,492
Intangible Assets		 1,029 1,002 972 938 905 871 836 814 752 732 711
Noncurrent Deferred & Refundable Income Taxes		 1,073 1,106 1,083 1,037 1,153 1,132 1,134 1,211 1,130 1,183 1,187
Other Noncurrent Operating Assets		 2,179 2,306 2,234 2,226 2,220 2,075 1,981 2,172 2,139 2,104 2,278
Total Liabilities & Shareholders' Equity		 29,499 28,822 28,645 28,278 28,500 27,618 27,179 28,322 27,735 27,394 28,745
Total Liabilities		 17,224 16,615 16,935 16,534 16,632 16,059 16,252 16,855 16,665 16,266 17,200
Total Current Liabilities		 5,175 4,773 4,411 4,285 4,319 4,175 4,526 4,637 4,919 4,523 5,475
Short-Term Debt		 224 197 187 297 320 318 376 335 326 283 786
Accounts Payable		 1,804 1,662 1,519 1,459 1,466 1,476 1,466 1,565 1,472 1,737 1,931
Accrued Expenses		 3,147 2,914 2,705 2,529 2,533 2,381 2,684 2,737 3,121 2,503 2,758
Total Noncurrent Liabilities		 12,049 11,842 12,524 12,249 12,313 11,884 11,726 12,218 11,746 11,743 11,725
Long-Term Debt		 6,687 6,654 7,437 7,210 7,206 7,050 6,908 7,073 6,885 6,954 6,714
Noncurrent Employee Benefit Liabilities		 407 405 407 406 398 399 360 357 336 333 302
Other Noncurrent Operating Liabilities		 4,955 4,783 4,680 4,633 4,709 4,435 4,458 4,788 4,525 4,456 4,709
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 12,275 12,207 11,710 11,744 11,868 11,559 10,927 11,467 11,070 11,128 11,545
Total Preferred & Common Equity		 12,008 11,925 11,412 11,430 11,551 11,226 10,585 11,103 10,686 10,716 11,116
Total Common Equity		 12,008 11,925 11,412 11,430 11,551 11,226 10,585 11,103 10,686 10,716 11,116
Common Stock		 17,592 17,657 17,732 17,792 17,845 17,915 18,000 18,097 18,185 18,249 18,312
Retained Earnings		 16,778 16,713 16,509 16,673 16,391 16,358 15,976 15,859 15,926 15,839 15,823
Treasury Stock		 -20,532 - - -20,633 -20,637 -20,672 -20,799 -20,845 -20,882 -21,012 -21,085
Accumulated Other Comprehensive Income / (Loss)		 -1,830 -1,897 -2,199 -2,402 -2,048 -2,375 -2,592 -2,008 -2,543 -2,360 -1,934
Noncontrolling Interest		 267 282 298 314 317 333 342 364 384 412 429

Annual Metrics And Ratios for Corning

This table displays calculated financial ratios and metrics derived from Corning's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 24.25% -6.22% 3.06% 7.73% 11.61% 1.89% -1.74% 24.59% 0.76% -11.28% 4.21%
EBITDA Growth		 51.28% -45.86% -17.51% 24.83% -0.20% 13.40% -16.78% 73.75% -15.97% -29.78% -1.25%
EBIT Growth		 66.78% -61.58% -34.23% 63.68% -9.96% 10.51% -36.03% 203.35% -23.61% -46.62% -1.08%
NOPAT Growth		 23.06% -10.96% 19.64% -133.84% 331.61% -7.70% -59.28% 301.19% -34.16% -36.28% 16.94%
Net Income Growth		 26.06% -45.83% 175.95% -113.45% 314.49% -9.94% -45.52% 269.98% -28.37% -53.25% -8.64%
EPS Growth		 29.10% -42.20% 223.00% -120.43% 271.21% -5.31% -49.53% 137.04% 20.31% -55.84% -14.71%
Operating Cash Flow Growth		 72.18% -39.92% -10.32% -21.01% 45.66% -30.42% 7.34% 56.51% -23.36% -23.33% -3.29%
Free Cash Flow Firm Growth		 -253.53% 175.26% 30.46% -125.17% 142.00% -158.00% 78.89% 12,011.34% -65.40% -41.38% 217.83%
Invested Capital Growth		 24.13% -1.74% -3.07% 0.04% 5.62% 6.70% 2.43% -6.97% 0.42% 0.57% -6.26%
Revenue Q/Q Growth		 4.83% -1.86% 2.68% 1.62% 3.65% -1.86% 4.95% 2.37% -1.87% -3.17% 4.02%
EBITDA Q/Q Growth		 24.36% -33.21% -19.80% 45.02% -9.22% 3.50% 13.86% 5.03% -14.60% -1.43% 22.80%
EBIT Q/Q Growth		 31.74% -48.74% -37.25% 130.11% -18.32% 2.64% 48.92% 8.56% -21.56% -3.06% 73.53%
NOPAT Q/Q Growth		 24.44% -15.11% -15.42% -139.75% 303.97% -19.55% 147.65% 2.62% -24.72% 4.05% 52.08%
Net Income Q/Q Growth		 29.76% -36.33% 57.44% -119.98% 267.08% -21.31% 79.11% 13.82% -27.47% -0.15% 164.29%
EPS Q/Q Growth		 30.08% -33.33% 63.96% -128.21% 239.51% -24.65% 125.00% 24.27% -29.36% 0.00% 222.22%
Operating Cash Flow Q/Q Growth		 13.83% -4.33% 21.21% -21.23% 1.85% 3.94% -10.07% 7.87% -13.44% 5.03% -4.44%
Free Cash Flow Firm Q/Q Growth		 14.86% -6.07% -18.99% -1,098.51% 12.46% -942.69% -105.50% 19.83% -49.12% 315.36% 115.85%
Invested Capital Q/Q Growth		 -2.19% -2.88% -1.83% -8.71% 0.54% -0.28% 3.77% 1.33% 5.19% 0.02% -4.34%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 41.71% 40.09% 40.07% 39.74% 39.51% 35.08% 31.24% 35.95% 31.76% 31.23% 32.60%
EBITDA Margin		 47.34% 27.33% 21.87% 25.35% 22.67% 25.23% 21.37% 29.80% 24.85% 19.67% 18.64%
Operating Margin		 19.88% 14.51% 15.17% 15.90% 13.95% 11.35% 4.50% 15.00% 10.13% 7.07% 8.65%
EBIT Margin		 34.99% 14.33% 9.15% 13.90% 11.21% 12.16% 7.92% 19.28% 14.62% 8.79% 8.35%
Profit (Net Income) Margin		 25.45% 14.70% 39.35% -4.91% 9.44% 8.35% 4.63% 13.74% 9.77% 5.15% 4.51%
Tax Burden Percent		 69.28% 90.11% 100.08% -29.99% 70.92% 78.95% 82.49% 79.76% 77.13% 79.41% 72.82%
Interest Burden Percent		 104.97% 113.78% 429.80% 117.85% 118.72% 86.92% 70.84% 89.36% 86.64% 73.71% 74.25%
Effective Tax Rate		 30.72% 9.89% -0.08% 129.99% 29.08% 21.05% 17.51% 20.24% 22.87% 20.59% 27.18%
Return on Invested Capital (ROIC)		 8.69% 7.05% 8.64% -2.97% 6.69% 5.82% 2.27% 9.31% 6.35% 4.02% 4.84%
ROIC Less NNEP Spread (ROIC-NNEP)		 -10.08% 2.65% -109.64% -0.63% 3.96% 4.16% 4.21% 14.22% 11.81% 2.95% 0.65%
Return on Net Nonoperating Assets (RNNOA)		 2.84% -0.44% 11.43% 0.02% 0.50% 1.33% 1.69% 5.58% 4.82% 1.34% 0.32%
Return on Equity (ROE)		 11.53% 6.61% 20.07% -2.95% 7.19% 7.14% 3.96% 14.89% 11.17% 5.37% 5.16%
Cash Return on Invested Capital (CROIC)		 -12.84% 8.80% 11.76% -3.01% 1.23% -0.67% -0.14% 16.53% 5.92% 3.45% 11.30%
Operating Return on Assets (OROA)		 11.61% 4.46% 3.04% 5.08% 4.60% 4.96% 3.00% 8.91% 6.95% 3.82% 3.89%
Return on Assets (ROA)		 8.45% 4.57% 13.10% -1.79% 3.88% 3.40% 1.75% 6.35% 4.65% 2.23% 2.11%
Return on Common Equity (ROCE)		 10.88% 5.84% 17.48% -2.53% 6.03% 5.87% 3.23% 13.34% 10.95% 5.24% 5.00%
Return on Equity Simple (ROE_SIMPLE)		 11.46% 7.13% 20.65% -3.17% 7.73% 7.44% 3.95% 15.69% 11.54% 5.61% 5.54%
Net Operating Profit after Tax (NOPAT)		 1,338 1,191 1,425 -482 1,117 1,031 420 1,685 1,109 707 826
NOPAT Margin		 13.77% 13.07% 15.18% -4.77% 9.89% 8.96% 3.71% 11.96% 7.82% 5.61% 6.30%
Net Nonoperating Expense Percent (NNEP)		 18.77% 4.40% 118.28% -2.34% 2.73% 1.66% -1.94% -4.91% -5.46% 1.07% 4.19%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 5.78% 3.64% 4.52%
Cost of Revenue to Revenue		 58.29% 59.91% 59.93% 60.26% 60.49% 64.92% 68.76% 64.05% 68.24% 68.77% 67.40%
SG&A Expenses to Revenue		 12.37% 16.55% 15.57% 14.56% 15.93% 13.78% 15.46% 12.97% 13.38% 14.64% 14.72%
R&D to Revenue		 8.39% 8.44% 7.84% 8.54% 8.80% 8.96% 10.21% 7.07% 7.38% 8.55% 8.30%
Operating Expenses to Revenue		 21.83% 25.58% 24.91% 23.84% 25.56% 23.72% 26.74% 20.96% 21.62% 24.16% 23.94%
Earnings before Interest and Taxes (EBIT)		 3,399 1,306 859 1,406 1,266 1,399 895 2,715 2,074 1,107 1,095
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 4,599 2,490 2,054 2,564 2,559 2,902 2,415 4,196 3,526 2,476 2,445
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.18 1.04 1.20 1.72 1.79 1.84 2.26 2.37 2.11 2.18 3.81
Price to Tangible Book Value (P/TBV)		 1.29 1.19 1.42 2.13 2.48 2.61 3.44 3.34 2.95 3.05 5.37
Price to Revenue (P/Rev)		 2.34 1.88 2.00 2.28 1.82 1.70 2.19 2.08 1.79 2.00 3.10
Price to Earnings (P/E)		 9.18 12.77 5.07 0.00 19.25 22.65 59.76 27.13 19.25 43.44 80.41
Dividend Yield		 2.26% 3.32% 2.74% 2.34% 2.81% 3.15% 2.72% 2.80% 3.61% 3.79% 2.36%
Earnings Yield		 10.90% 7.83% 19.72% 0.00% 5.19% 4.42% 1.67% 3.69% 5.20% 2.30% 1.24%
Enterprise Value to Invested Capital (EV/IC)		 1.20 1.04 1.19 1.59 1.53 1.49 1.74 1.97 1.76 1.78 2.82
Enterprise Value to Revenue (EV/Rev)		 2.11 1.91 2.06 2.56 2.32 2.37 2.88 2.44 2.17 2.49 3.55
Enterprise Value to EBITDA (EV/EBITDA)		 4.45 6.97 9.43 10.10 10.23 9.38 13.47 8.19 8.75 12.64 19.02
Enterprise Value to EBIT (EV/EBIT)		 6.02 13.30 22.56 18.41 20.68 19.45 36.35 12.66 14.87 28.28 42.48
Enterprise Value to NOPAT (EV/NOPAT)		 15.29 14.58 13.60 0.00 23.44 26.40 77.47 20.41 27.81 44.29 56.28
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.34 6.14 7.64 12.92 8.97 13.40 14.92 10.08 11.79 15.61 23.99
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 11.68 9.99 0.00 127.70 0.00 0.00 11.49 29.79 51.59 24.12
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.15 0.24 0.22 0.33 0.43 0.60 0.59 0.56 0.56 0.63 0.65
Long-Term Debt to Equity		 0.15 0.21 0.20 0.30 0.43 0.59 0.58 0.56 0.54 0.61 0.62
Financial Leverage		 -0.28 -0.17 -0.10 -0.04 0.13 0.32 0.40 0.39 0.41 0.46 0.49
Leverage Ratio		 1.37 1.45 1.53 1.64 1.85 2.10 2.26 2.34 2.40 2.40 2.45
Compound Leverage Factor		 1.43 1.65 6.59 1.94 2.20 1.82 1.60 2.09 2.08 1.77 1.82
Debt to Total Capital		 13.10% 19.13% 17.85% 24.54% 30.17% 37.32% 37.22% 35.96% 36.02% 38.81% 39.45%
Short-Term Debt to Total Capital		 0.14% 2.45% 1.17% 1.81% 0.02% 0.05% 0.73% 0.28% 1.17% 1.65% 1.78%
Long-Term Debt to Total Capital		 12.95% 16.68% 16.68% 22.72% 30.14% 37.27% 36.49% 35.68% 34.85% 37.16% 37.66%
Preferred Equity to Total Capital		 9.23% 9.86% 10.52% 11.01% 11.57% 11.09% 10.74% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.29% 0.32% 0.31% 0.34% 0.47% 0.43% 0.89% 1.08% 1.39% 1.63% 2.10%
Common Equity to Total Capital		 77.38% 70.69% 71.32% 64.11% 57.80% 51.15% 51.15% 62.96% 62.59% 59.56% 58.45%
Debt to EBITDA		 0.71 1.79 1.90 2.00 2.34 2.67 3.30 1.68 1.96 3.04 2.95
Net Debt to EBITDA		 -1.00 -0.85 -0.84 0.18 1.28 1.83 2.19 1.17 1.49 2.32 2.23
Long-Term Debt to EBITDA		 0.70 1.56 1.78 1.85 2.34 2.66 3.24 1.67 1.90 2.91 2.82
Debt to NOPAT		 2.44 3.75 2.74 -10.63 5.37 7.51 18.99 4.18 6.23 10.65 8.73
Net Debt to NOPAT		 -3.44 -1.77 -1.21 -0.98 2.92 5.15 12.62 2.91 4.72 8.13 6.59
Long-Term Debt to NOPAT		 2.41 3.27 2.56 -9.85 5.37 7.50 18.61 4.15 6.03 10.20 8.33
Altman Z-Score		 3.24 2.44 2.69 2.77 2.46 2.25 2.22 2.64 2.48 2.41 3.01
Noncontrolling Interest Sharing Ratio		 5.65% 11.72% 12.88% 14.05% 16.07% 17.80% 18.46% 10.40% 1.93% 2.42% 3.06%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.41 2.94 3.29 2.75 2.12 2.12 2.12 1.59 1.44 1.67 1.62
Quick Ratio		 3.26 2.12 2.46 1.91 1.30 1.21 1.28 0.86 0.66 0.78 0.78
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,976 1,487 1,940 -488 205 -119 -25 2,992 1,035 607 1,928
Operating Cash Flow to CapEx		 437.64% 226.32% 224.51% 111.09% 126.36% 102.68% 162.69% 208.43% 163.03% 151.55% 200.93%
Free Cash Flow to Firm to Interest Expense		 -16.07 10.62 12.20 -3.15 1.07 -0.54 -0.09 9.97 3.54 1.84 5.86
Operating Cash Flow to Interest Expense		 38.28 20.21 15.96 12.93 15.28 9.19 7.90 11.37 8.96 6.09 5.89
Operating Cash Flow Less CapEx to Interest Expense		 29.54 11.28 8.85 1.29 3.19 0.24 3.04 5.92 3.46 2.07 2.96
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.33 0.31 0.33 0.37 0.41 0.41 0.38 0.46 0.48 0.43 0.47
Accounts Receivable Turnover		 7.06 6.34 6.58 6.15 6.03 6.09 5.70 6.81 7.62 7.65 7.24
Inventory Turnover		 4.37 4.03 3.94 3.83 3.64 3.43 3.27 3.67 3.60 3.11 3.28
Fixed Asset Turnover		 0.86 0.72 0.75 0.76 0.78 0.76 0.73 0.89 0.91 0.84 0.94
Accounts Payable Turnover		 6.41 5.65 5.59 4.84 4.72 4.91 5.63 6.47 5.67 5.29 6.02
Days Sales Outstanding (DSO)		 51.73 57.55 55.45 59.32 60.57 59.91 64.08 53.61 47.91 47.74 50.43
Days Inventory Outstanding (DIO)		 83.53 90.51 92.63 95.29 100.19 106.47 111.73 99.54 101.49 117.42 111.25
Days Payable Outstanding (DPO)		 56.98 64.57 65.29 75.38 77.37 74.36 64.83 56.37 64.38 68.94 60.64
Cash Conversion Cycle (CCC)		 78.29 83.50 82.79 79.23 83.39 92.02 110.98 96.78 85.02 96.23 101.04
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 17,046 16,750 16,235 16,241 17,153 18,303 18,748 17,441 17,515 17,615 16,513
Invested Capital Turnover		 0.63 0.54 0.57 0.62 0.68 0.65 0.61 0.78 0.81 0.72 0.77
Increase / (Decrease) in Invested Capital		 3,314 -296 -515 6.00 912 1,150 445 -1,307 74 100 -1,102
Enterprise Value (EV)		 20,455 17,364 19,376 25,886 26,187 27,217 32,530 34,378 30,839 31,302 46,514
Market Capitalization		 22,688 17,102 18,734 23,043 20,526 19,521 24,739 29,270 25,332 25,238 40,687
Book Value per Share		 $15.04 $13.94 $16.39 $15.42 $14.36 $13.79 $14.34 $14.45 $14.20 $13.54 $12.48
Tangible Book Value per Share		 $13.76 $12.17 $13.90 $12.47 $10.32 $9.73 $9.41 $10.27 $10.15 $9.69 $8.84
Total Capital		 24,915 23,325 21,862 20,898 19,884 20,737 21,420 19,589 19,186 19,394 18,281
Total Debt		 3,263 4,462 3,902 5,128 5,998 7,740 7,972 7,044 6,911 7,526 7,211
Total Long-Term Debt		 3,227 3,890 3,646 4,749 5,994 7,729 7,816 6,989 6,687 7,206 6,885
Net Debt		 -4,606 -2,113 -1,725 471 3,267 5,306 5,300 4,896 5,240 5,747 5,443
Capital Expenditures (CapEx)		 1,076 1,250 1,130 1,804 2,310 1,978 1,340 1,637 1,604 1,323 965
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,882 1,427 1,262 1,680 1,372 1,519 1,721 760 831 1,434 1,631
Debt-free Net Working Capital (DFNWC)		 7,950 6,027 6,553 5,997 3,727 3,953 4,393 2,908 2,502 3,213 3,399
Net Working Capital (NWC)		 7,914 5,455 6,297 5,618 3,723 3,942 4,237 2,853 2,278 2,893 3,073
Net Nonoperating Expense (NNE)		 -1,134 -148 -2,270 15 51 71 -103 -250 -277 59 234
Net Nonoperating Obligations (NNO)		 -4,606 -2,113 -1,725 471 3,267 5,306 5,300 4,896 5,240 5,747 5,443
Total Depreciation and Amortization (D&A)		 1,200 1,184 1,195 1,158 1,293 1,503 1,520 1,481 1,452 1,369 1,350
Debt-free, Cash-free Net Working Capital to Revenue		 19.37% 15.66% 13.44% 16.61% 12.15% 13.21% 15.23% 5.40% 5.86% 11.39% 12.43%
Debt-free Net Working Capital to Revenue		 81.83% 66.15% 69.79% 59.28% 33.01% 34.36% 38.87% 20.65% 17.63% 25.52% 25.91%
Net Working Capital to Revenue		 81.46% 59.87% 67.06% 55.54% 32.98% 34.27% 37.49% 20.26% 16.05% 22.98% 23.43%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $1.02 $3.53 ($0.66) $1.19 $1.11 $0.54 $1.30 $1.56 $0.69 $0.59
Adjusted Weighted Average Basic Shares Outstanding		 0.00 1.11B 928.09M 857.45M 786.76M 763.63M 768.37M 845.85M 846.56M 853.47M 856.56M
Adjusted Diluted Earnings per Share		 $0.00 $1.00 $3.23 ($0.66) $1.13 $1.07 $0.54 $1.28 $1.54 $0.68 $0.58
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 1.11B 928.09M 857.45M 786.76M 763.63M 768.37M 845.85M 846.56M 853.47M 856.56M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 1.11B 928.09M 857.45M 786.76M 763.63M 768.37M 845.85M 846.56M 853.47M 856.56M
Normalized Net Operating Profit after Tax (NOPAT)		 1,387 1,191 1,051 1,126 1,117 1,031 420 1,685 1,109 707 826
Normalized NOPAT Margin		 14.28% 13.07% 11.19% 11.13% 9.89% 8.96% 3.71% 11.96% 7.82% 5.61% 6.30%
Pre Tax Income Margin		 36.73% 16.31% 39.32% 16.38% 13.31% 10.57% 5.61% 17.23% 12.66% 6.48% 6.20%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 27.63 9.33 5.40 9.07 6.63 6.33 3.24 9.05 7.10 3.36 3.33
NOPAT to Interest Expense		 10.88 8.51 8.96 -3.11 5.85 4.67 1.52 5.62 3.80 2.15 2.51
EBIT Less CapEx to Interest Expense		 18.89 0.40 -1.70 -2.57 -5.47 -2.62 -1.61 3.59 1.61 -0.66 0.40
NOPAT Less CapEx to Interest Expense		 2.13 -0.42 1.86 -14.75 -6.25 -4.28 -3.33 0.16 -1.69 -1.87 -0.42
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 23.91% 50.71% 17.46% -130.99% 64.26% 77.29% 150.48% 45.01% 67.24% 152.62% 166.55%
Augmented Payout Ratio		 124.35% 291.78% 131.85% -624.35% 273.17% 175.21% 170.55% 59.17% 83.19% 152.62% 194.43%

Quarterly Metrics And Ratios for Corning

This table displays calculated financial ratios and metrics derived from Corning's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -7.34% -13.64% -10.29% -9.03% -12.10% -6.39% 0.25% 6.87% 16.93% 16.03% 18.79%
EBITDA Growth		 -58.94% -47.88% -30.90% -8.58% -8.57% 10.34% -29.33% -49.13% 118.23% -10.65% 71.87%
EBIT Growth		 -88.51% -65.10% -41.15% -12.42% -47.30% 23.57% -48.96% -107.27% 1,189.74% -15.53% 169.11%
NOPAT Growth		 -241.67% -43.32% -45.83% -22.02% 109.41% -22.40% -36.17% 6.80% 460.01% 77.66% 271.85%
Net Income Growth		 -105.42% -68.33% -48.12% -19.47% -3.70% 17.80% -59.74% -152.20% 1,314.29% -17.78% 309.84%
EPS Growth		 -106.67% -70.59% -50.00% -20.83% 0.00% 20.00% -63.64% -173.68% 1,000.00% -25.00% 350.00%
Operating Cash Flow Growth		 -39.69% -109.18% -18.34% 2.27% 15.56% 295.92% -15.83% -3.19% -12.62% 57.29% 35.89%
Free Cash Flow Firm Growth		 -138.12% -106.70% -201.80% -193.65% 93.06% 695.49% 359.16% 173.57% 3,200.81% 65.54% -123.89%
Invested Capital Growth		 0.42% 1.93% 3.76% 5.77% 0.57% -1.95% -5.64% -1.99% -6.26% -3.17% 4.54%
Revenue Q/Q Growth		 -2.35% -6.69% 2.05% -2.16% -5.64% -0.63% 9.28% 4.31% 3.24% -1.40% 11.88%
EBITDA Q/Q Growth		 -38.95% 51.90% 29.31% -23.76% -38.95% 83.33% -17.19% -45.11% 161.88% -24.94% 59.30%
EBIT Q/Q Growth		 -77.58% 301.35% 62.29% -40.04% -86.51% 841.03% -32.97% -108.54% 2,495.24% -38.37% 113.55%
NOPAT Q/Q Growth		 -328.71% 142.86% -16.93% -4.24% -72.42% 253.62% -31.67% 60.24% 44.64% 12.18% 43.02%
Net Income Q/Q Growth		 -111.95% 807.41% 58.64% -39.93% -115.38% 903.57% -45.78% -177.87% 457.89% -45.59% 170.27%
EPS Q/Q Growth		 -116.67% 600.00% 65.00% -42.42% -121.05% 700.00% -50.00% -216.67% 357.14% -50.00% 200.00%
Operating Cash Flow Q/Q Growth		 -12.61% -107.94% 1,363.27% 16.64% -1.25% -86.54% 442.71% 34.17% -10.87% -75.76% 368.87%
Free Cash Flow Firm Q/Q Growth		 -180.32% 86.07% -380.61% -74.09% 94.05% 1,296.20% 109.17% -50.58% 150.76% -36.14% -130.19%
Invested Capital Q/Q Growth		 5.19% 2.27% -0.65% -1.03% 0.02% -0.30% -4.38% 2.80% -4.34% 2.99% 3.22%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 26.86% 31.56% 31.24% 31.64% 30.43% 33.38% 29.19% 33.53% 34.19% 35.17% 36.04%
EBITDA Margin		 12.33% 20.08% 25.44% 19.82% 12.83% 23.66% 17.93% 9.44% 23.94% 18.22% 25.95%
Operating Margin		 2.53% 9.35% 8.60% 7.44% 2.61% 8.54% 5.72% 8.91% 11.23% 12.89% 14.84%
EBIT Margin		 2.17% 9.35% 14.86% 9.11% 1.30% 12.34% 7.57% -0.62% 14.37% 8.98% 17.14%
Profit (Net Income) Margin		 -0.79% 6.01% 9.34% 5.74% -0.94% 7.56% 3.75% -2.80% 9.71% 5.36% 12.95%
Tax Burden Percent		 -675.00% 83.77% 74.08% 83.87% 73.68% 76.01% 70.93% 103.26% 77.80% 77.08% 85.62%
Interest Burden Percent		 5.41% 76.77% 84.85% 75.09% -97.44% 80.65% 69.92% 438.10% 86.88% 77.42% 88.22%
Effective Tax Rate		 775.00% 16.23% 25.92% 16.13% 0.00% 23.99% 29.07% 0.00% 22.20% 22.92% 14.38%
Return on Invested Capital (ROIC)		 -13.84% 6.04% 4.86% 4.73% 1.31% 4.53% 2.91% 4.51% 6.71% 7.82% 10.51%
ROIC Less NNEP Spread (ROIC-NNEP)		 -2.91% 4.95% 6.57% 4.44% -0.20% 5.08% 2.74% -0.75% 7.33% 5.16% 10.67%
Return on Net Nonoperating Assets (RNNOA)		 -1.19% 2.12% 3.12% 2.09% -0.09% 2.50% 1.45% -0.37% 3.57% 2.70% 5.64%
Return on Equity (ROE)		 -15.03% 8.16% 7.98% 6.83% 1.22% 7.03% 4.36% 4.13% 10.29% 10.52% 16.14%
Cash Return on Invested Capital (CROIC)		 5.92% 3.23% 0.51% -1.64% 3.45% 5.66% 9.18% 5.12% 11.30% 8.81% 3.50%
Operating Return on Assets (OROA)		 1.03% 4.33% 6.78% 4.15% 0.57% 5.41% 3.36% -0.28% 6.70% 4.44% 8.71%
Return on Assets (ROA)		 -0.38% 2.78% 4.26% 2.62% -0.41% 3.32% 1.67% -1.25% 4.53% 2.65% 6.58%
Return on Common Equity (ROCE)		 -14.74% 7.99% 7.79% 6.66% 1.19% 6.85% 4.23% 4.01% 9.97% 10.17% 15.59%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 8.17% 6.07% 5.68% 0.00% 6.08% 4.73% 2.02% 0.00% 5.15% 0.00%
Net Operating Profit after Tax (NOPAT)		 -581 249 207 198 55 193 132 211 306 343 491
NOPAT Margin		 -17.04% 7.83% 6.37% 6.24% 1.82% 6.49% 4.06% 6.23% 8.73% 9.94% 12.70%
Net Nonoperating Expense Percent (NNEP)		 -10.92% 1.09% -1.71% 0.29% 1.50% -0.55% 0.17% 5.25% -0.61% 2.66% -0.16%
Return On Investment Capital (ROIC_SIMPLE)		 -3.03% - - - 0.28% - - - 1.67% 1.87% 2.58%
Cost of Revenue to Revenue		 73.14% 68.44% 68.76% 68.36% 69.57% 66.62% 70.81% 66.47% 65.81% 64.83% 63.96%
SG&A Expenses to Revenue		 15.18% 13.25% 13.57% 14.75% 17.17% 15.16% 14.49% 15.04% 14.25% 13.64% 13.34%
R&D to Revenue		 8.25% 7.99% 8.11% 8.51% 9.65% 8.67% 8.06% 8.67% 7.85% 7.82% 7.15%
Operating Expenses to Revenue		 24.34% 22.22% 22.63% 24.20% 27.82% 24.84% 23.47% 24.62% 22.96% 22.28% 21.21%
Earnings before Interest and Taxes (EBIT)		 74 297 482 289 39 367 246 -21 503 310 662
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 420 638 825 629 384 704 583 320 838 629 1,002
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.11 2.40 2.52 2.20 2.18 2.49 3.14 3.48 3.81 3.66 4.05
Price to Tangible Book Value (P/TBV)		 2.95 3.35 3.57 3.10 3.05 3.50 4.51 4.89 5.37 5.15 5.69
Price to Revenue (P/Rev)		 1.79 2.09 2.16 1.93 2.00 2.25 2.69 3.06 3.10 2.88 3.17
Price to Earnings (P/E)		 19.25 31.39 45.75 43.00 43.44 45.45 76.15 247.66 80.41 86.37 55.00
Dividend Yield		 3.61% 3.23% 3.25% 3.76% 3.79% 3.42% 2.88% 2.48% 2.36% 2.45% 2.13%
Earnings Yield		 5.20% 3.19% 2.19% 2.33% 2.30% 2.20% 1.31% 0.40% 1.24% 1.16% 1.82%
Enterprise Value to Invested Capital (EV/IC)		 1.76 1.93 1.98 1.78 1.78 1.95 2.35 2.59 2.82 2.68 2.93
Enterprise Value to Revenue (EV/Rev)		 2.17 2.53 2.64 2.41 2.49 2.76 3.19 3.55 3.55 3.35 3.62
Enterprise Value to EBITDA (EV/EBITDA)		 8.75 11.76 13.68 12.47 12.64 13.47 17.17 22.50 19.02 19.20 18.46
Enterprise Value to EBIT (EV/EBIT)		 14.87 22.75 29.72 27.44 28.28 29.09 41.96 70.99 42.48 43.84 35.41
Enterprise Value to NOPAT (EV/NOPAT)		 27.81 37.85 47.92 46.13 44.29 52.40 67.63 82.43 56.28 47.06 37.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.79 17.02 18.57 16.41 15.61 15.93 19.24 22.08 23.99 22.82 23.60
Enterprise Value to Free Cash Flow (EV/FCFF)		 29.79 60.29 396.12 0.00 51.59 34.13 24.87 50.14 24.12 29.88 85.69
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.56 0.56 0.65 0.64 0.63 0.64 0.67 0.65 0.65 0.65 0.65
Long-Term Debt to Equity		 0.54 0.55 0.64 0.61 0.61 0.61 0.63 0.62 0.62 0.62 0.58
Financial Leverage		 0.41 0.43 0.48 0.47 0.46 0.49 0.53 0.50 0.49 0.52 0.53
Leverage Ratio		 2.40 2.38 2.46 2.45 2.40 2.37 2.47 2.44 2.45 2.42 2.49
Compound Leverage Factor		 0.13 1.83 2.09 1.84 -2.34 1.92 1.72 10.68 2.13 1.88 2.20
Debt to Total Capital		 36.02% 35.95% 39.43% 39.00% 38.81% 38.93% 40.00% 39.25% 39.45% 39.41% 39.38%
Short-Term Debt to Total Capital		 1.17% 1.03% 0.97% 1.54% 1.65% 1.68% 2.06% 1.77% 1.78% 1.54% 4.13%
Long-Term Debt to Total Capital		 34.85% 34.91% 38.47% 37.45% 37.16% 37.25% 37.93% 37.47% 37.66% 37.87% 35.25%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.39% 1.48% 1.54% 1.63% 1.63% 1.76% 1.88% 1.93% 2.10% 2.24% 2.25%
Common Equity to Total Capital		 62.59% 62.57% 59.03% 59.37% 59.56% 59.31% 58.12% 58.82% 58.45% 58.35% 58.37%
Debt to EBITDA		 1.96 2.33 2.97 2.99 3.04 2.90 3.17 3.72 2.95 3.05 2.69
Net Debt to EBITDA		 1.49 1.94 2.37 2.34 2.32 2.36 2.55 2.91 2.23 2.48 2.15
Long-Term Debt to EBITDA		 1.90 2.26 2.89 2.87 2.91 2.77 3.00 3.55 2.82 2.93 2.41
Debt to NOPAT		 6.23 7.50 10.39 11.05 10.65 11.28 12.48 13.63 8.73 7.48 5.50
Net Debt to NOPAT		 4.72 6.24 8.29 8.64 8.13 9.19 10.05 10.66 6.59 6.08 4.41
Long-Term Debt to NOPAT		 6.03 7.28 10.14 10.61 10.20 10.79 11.83 13.02 8.33 7.19 4.93
Altman Z-Score		 2.26 2.44 2.47 2.36 2.28 2.49 2.65 2.73 2.93 2.93 3.03
Noncontrolling Interest Sharing Ratio		 1.93% 2.08% 2.30% 2.48% 2.42% 2.59% 2.83% 2.92% 3.06% 3.28% 3.43%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.44 1.44 1.65 1.70 1.67 1.67 1.57 1.66 1.62 1.69 1.50
Quick Ratio		 0.66 0.59 0.73 0.79 0.78 0.72 0.69 0.78 0.78 0.75 0.69
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -655 -91 -438 -763 -45 543 1,136 561 1,408 899 -271
Operating Cash Flow to CapEx		 153.10% -15.56% 159.54% 211.73% 255.56% 38.10% 215.29% 322.12% 245.28% 72.60% 229.87%
Free Cash Flow to Firm to Interest Expense		 -8.61 -1.20 -5.41 -9.31 -0.50 6.54 13.52 6.76 17.82 10.96 -3.27
Operating Cash Flow to Interest Expense		 8.12 -0.64 7.64 8.80 7.92 1.16 6.20 8.42 7.89 1.84 8.53
Operating Cash Flow Less CapEx to Interest Expense		 2.82 -4.79 2.85 4.65 4.82 -1.88 3.32 5.81 4.67 -0.70 4.82
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.48 0.46 0.46 0.46 0.43 0.44 0.44 0.45 0.47 0.49 0.51
Accounts Receivable Turnover		 7.62 7.61 7.70 7.77 7.65 7.49 7.30 6.80 7.24 7.42 7.07
Inventory Turnover		 3.60 3.45 3.33 3.23 3.11 3.04 3.14 3.16 3.28 3.24 3.21
Fixed Asset Turnover		 0.91 0.89 0.89 0.89 0.84 0.84 0.87 0.89 0.94 0.99 1.03
Accounts Payable Turnover		 5.67 5.39 5.40 5.55 5.29 5.39 5.72 5.70 6.02 5.66 5.46
Days Sales Outstanding (DSO)		 47.91 47.98 47.42 46.96 47.74 48.76 50.00 53.70 50.43 49.21 51.63
Days Inventory Outstanding (DIO)		 101.49 105.73 109.48 112.86 117.42 120.23 116.29 115.33 111.25 112.51 113.57
Days Payable Outstanding (DPO)		 64.38 67.73 67.60 65.77 68.94 67.66 63.82 64.02 60.64 64.45 66.91
Cash Conversion Cycle (CCC)		 85.02 85.98 89.30 94.05 96.23 101.33 102.46 105.02 101.04 97.27 98.29
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 17,515 17,912 17,796 17,612 17,615 17,562 16,792 17,262 16,513 17,006 17,554
Invested Capital Turnover		 0.81 0.77 0.76 0.76 0.72 0.70 0.72 0.72 0.77 0.79 0.83
Increase / (Decrease) in Invested Capital		 74 340 645 961 100 -350 -1,004 -350 -1,102 -556 762
Enterprise Value (EV)		 30,839 34,583 35,161 31,336 31,302 34,244 39,487 44,794 46,514 45,503 51,480
Market Capitalization		 25,332 28,596 28,777 25,154 25,238 27,908 33,280 38,635 40,687 39,213 45,042
Book Value per Share		 $14.20 $14.09 $13.42 $13.40 $13.54 $13.11 $12.36 $12.98 $12.48 $12.51 $12.98
Tangible Book Value per Share		 $10.15 $10.07 $9.48 $9.52 $9.69 $9.32 $8.62 $9.23 $8.84 $8.89 $9.24
Total Capital		 19,186 19,058 19,334 19,251 19,394 18,927 18,211 18,875 18,281 18,365 19,045
Total Debt		 6,911 6,851 7,624 7,507 7,526 7,368 7,284 7,408 7,211 7,237 7,500
Total Long-Term Debt		 6,687 6,654 7,437 7,210 7,206 7,050 6,908 7,073 6,885 6,954 6,714
Net Debt		 5,240 5,705 6,086 5,868 5,747 6,003 5,865 5,795 5,443 5,878 6,009
Capital Expenditures (CapEx)		 403 315 388 341 279 252 242 217 254 208 308
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 831 1,155 1,531 1,671 1,434 1,749 1,552 1,761 1,631 2,045 2,016
Debt-free Net Working Capital (DFNWC)		 2,502 2,301 3,069 3,310 3,213 3,114 2,971 3,374 3,399 3,404 3,507
Net Working Capital (NWC)		 2,278 2,104 2,882 3,013 2,893 2,796 2,595 3,039 3,073 3,121 2,721
Net Nonoperating Expense (NNE)		 -554 58 -96 16 83 -32 9.93 306 -34 158 -9.42
Net Nonoperating Obligations (NNO)		 5,240 5,705 6,086 5,868 5,747 6,003 5,865 5,795 5,443 5,878 6,009
Total Depreciation and Amortization (D&A)		 346 341 343 340 345 337 337 341 335 319 340
Debt-free, Cash-free Net Working Capital to Revenue		 5.86% 8.44% 11.50% 12.85% 11.39% 14.12% 12.52% 13.96% 12.43% 15.04% 14.19%
Debt-free Net Working Capital to Revenue		 17.63% 16.81% 23.05% 25.46% 25.52% 25.14% 23.97% 26.75% 25.91% 25.04% 24.69%
Net Working Capital to Revenue		 16.05% 15.37% 21.64% 23.18% 22.98% 22.58% 20.94% 24.10% 23.43% 22.96% 19.15%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.05) $0.21 $0.33 $0.19 ($0.04) $0.25 $0.12 ($0.14) $0.36 $0.18 $0.55
Adjusted Weighted Average Basic Shares Outstanding		 846.56M 850.13M 852.98M 853.17M 853.47M 856.62M 855.70M 856.21M 856.56M 856.47M 856.62M
Adjusted Diluted Earnings per Share		 ($0.04) $0.20 $0.33 $0.19 ($0.04) $0.24 $0.12 ($0.14) $0.36 $0.18 $0.54
Adjusted Weighted Average Diluted Shares Outstanding		 846.56M 850.13M 852.98M 853.17M 853.47M 856.62M 855.70M 856.21M 856.56M 856.47M 856.62M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 846.56M 850.13M 852.98M 853.17M 853.47M 856.62M 855.70M 856.21M 856.56M 856.47M 856.62M
Normalized Net Operating Profit after Tax (NOPAT)		 60 249 207 198 55 193 132 211 306 343 491
Normalized NOPAT Margin		 1.77% 7.83% 6.37% 6.24% 1.82% 6.49% 4.06% 6.23% 8.73% 9.94% 12.70%
Pre Tax Income Margin		 0.12% 7.17% 12.61% 6.84% -1.27% 9.95% 5.29% -2.71% 12.48% 6.95% 15.12%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.97 3.91 5.95 3.52 0.43 4.42 2.93 -0.25 6.37 3.78 7.98
NOPAT to Interest Expense		 -7.64 3.27 2.55 2.41 0.61 2.33 1.57 2.55 3.87 4.18 5.91
EBIT Less CapEx to Interest Expense		 -4.33 -0.24 1.16 -0.63 -2.67 1.39 0.05 -2.87 3.15 1.24 4.27
NOPAT Less CapEx to Interest Expense		 -12.94 -0.87 -2.24 -1.74 -2.49 -0.71 -1.31 -0.07 0.66 1.65 2.20
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 67.24% 96.82% 139.25% 150.54% 152.62% 145.60% 197.41% 439.73% 166.55% 178.44% 106.88%
Augmented Payout Ratio		 83.19% 96.82% 142.14% 150.54% 152.62% 145.60% 218.36% 500.00% 194.43% 226.45% 127.63%

Key Financial Trends

Corning Inc. (NYSE: GLW) has shown notable improvement and growth across its financial statements over the past four years, with quarterly data revealing trends in revenue, profitability, cash flow, and balance sheet strength.

Positive Trends and Highlights:

  • Operating revenue has generally increased over the four-year period, with Q2 2025 revenue at $3.86 billion compared to $3.24 billion in Q2 2023, demonstrating top-line growth.
  • Net income has improved significantly, with Q2 2025 net income at $500 million, up from $122 million in Q2 2024 and showing strong recovery from losses in some quarters of 2023.
  • Gross profit margins have improved, supported by controlled operating costs and effective cost of revenue management.
  • Operating cash flow has strengthened, with Q2 2025 net cash from operating activities at $708 million, up from $521 million in Q2 2024, indicating better cash generation from core operations.
  • Capital expenditures have increased, reflecting investments in property, plant, and equipment ($308 million in Q2 2025), which signals growth initiatives and asset modernization.
  • Dividends remain consistently paid and have increased over time, with a cash dividend per share of $0.56 in Q2 2025 compared to $0.12 in 2024 Q2 and lower in prior years, supporting shareholder returns.
  • Total assets have been stable to growing, with Q2 2025 assets at approximately $28.7 billion, showing a solid asset base to support operations.
  • Common equity has improved slightly to $11.1 billion in Q2 2025 from $10.5 billion in Q2 2024, reflecting retained earnings growth and shareholder value enhancement.
  • Corning has executed ongoing debt repayments (e.g., $244 million in Q2 2025), improving its leverage profile.

Neutral Observations:

  • The company has notable repurchases of common equity (e.g., $33 million in Q2 2025), which can be positive for shareholders but increases cash outflows.
  • Interest expense remains consistent around $80-$90 million per quarter, showing stable borrowing costs but a meaningful expense line.
  • Changes in operating assets and liabilities show fluctuations, affecting working capital and cash flow timing.

Challenges and Risks:

  • The company experienced net losses in several quarters of 2023, including Q3 and Q4, which indicates operational or market challenges during that period.
  • Accumulated other comprehensive loss remains negative on the balance sheet, reflecting exposure to currency or other market factors.
  • Total liabilities have slightly increased to $17.2 billion in Q2 2025 from $16.2 billion in Q2 2024, mainly driven by long-term debt of around $6.7 billion, which represents leverage risks.
  • There were some quarters with negative net change in cash and cash equivalents, including in early 2023, which could indicate cash management pressures at those times.

Summary:

Corning appears to be on a recovery and growth trajectory after some weaker quarters in 2023. Revenue and profitability are strengthening, supported by good cash flow generation and capital investment. The company maintains a strong asset base and manageable debt levels, although liabilities have increased slightly. Consistent dividend payments and share repurchases indicate commitment to shareholder returns. Investors should monitor quarterly performance for sustained profit improvements and leverage management.

08/28/25 04:14 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Corning's Financials

When does Corning's fiscal year end?

According to the most recent income statement we have on file, Corning's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Corning's net income changed over the last 10 years?

Corning's net income appears to be on a downward trend, with a most recent value of $592 million in 2024, falling from $2.47 billion in 2014. The previous period was $648 million in 2023. Find out what analysts predict for Corning in the coming months.

What is Corning's operating income?
Corning's total operating income in 2024 was $1.14 billion, based on the following breakdown:
  • Total Gross Profit: $4.28 billion
  • Total Operating Expenses: $3.14 billion
How has Corning's revenue changed over the last 10 years?

Over the last 10 years, Corning's total revenue changed from $9.72 billion in 2014 to $13.12 billion in 2024, a change of 35.0%.

How much debt does Corning have?

Corning's total liabilities were at $16.67 billion at the end of 2024, a 0.2% increase from 2023, and a 98.1% increase since 2014.

How much cash does Corning have?

In the past 10 years, Corning's cash and equivalents has ranged from $1.67 billion in 2022 to $5.31 billion in 2014, and is currently $1.77 billion as of their latest financial filing in 2024.

How has Corning's book value per share changed over the last 10 years?

Over the last 10 years, Corning's book value per share changed from 15.04 in 2014 to 12.48 in 2024, a change of -17.0%.


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This page (NYSE:GLW) was last updated on 8/28/2025 by MarketBeat.com Staff
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