Corning (GLW) Financials

$208.07 +1.56 (+0.75%)

Closing price 05/14/2026 03:59 PM Eastern

Extended Trading

$199.02 -9.04 (-4.35%)

As of 04:36 AM Eastern

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1,339	3,695	-497	1,066	862	414	1,079	1,316	581	506	1,596
Consolidated Net Income / (Loss)	1,339	3,695	-497	1,066	960	523	1,935	1,386	648	592	1,742
Net Income / (Loss) Continuing Operations	1,339	3,695	-497	1,066	960	523	1,935	1,386	648	592	1,742
Total Pre-Tax Income	1,486	3,692	1,657	1,503	1,216	634	2,426	1,797	816	813	2,052
Total Operating Income	1,322	1,424	1,608	1,575	1,306	509	2,112	1,438	890	1,135	2,279
Total Gross Profit	3,653	3,763	4,020	4,461	4,035	3,531	5,063	4,506	3,931	4,276	5,621
Total Revenue	9,111	9,390	10,116	11,290	11,503	11,303	14,082	14,189	12,588	13,118	15,629
Operating Revenue	9,111	9,390	10,116	11,290	11,503	11,303	14,082	14,189	12,588	13,118	15,629
Total Cost of Revenue	5,458	5,627	6,096	6,829	7,468	7,772	9,019	9,683	8,657	8,842	10,008
Operating Cost of Revenue	5,458	5,627	6,096	6,829	7,468	7,772	9,019	9,683	8,657	8,842	10,008
Total Operating Expenses	2,331	2,339	2,412	2,886	2,729	3,022	2,951	3,068	3,041	3,141	3,342
Selling, General & Admin Expense	1,508	1,462	1,473	1,799	1,585	1,747	1,827	1,898	1,843	1,931	2,122
Research & Development Expense	769	736	864	993	1,031	1,154	995	1,047	1,076	1,089	1,110
Amortization Expense	54	64	75	94	113	121	129	123	122	121	110
Total Other Income / (Expense), net	164	2,268	49	-72	-90	125	314	359	-74	-322	-227
Interest Expense	140	159	155	191	221	276	300	292	329	329	336
Interest & Investment Income	320	2,992	406	428	38	15	11	15	199	47	38
Other Income / (Expense), net	-16	-565	-202	-309	93	386	603	636	56	-40	71
Income Tax Expense	147	-3.00	2,154	437	256	111	491	411	168	221	310
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	11	29	70	67	86	146
Basic Earnings per Share	$1.02	$3.53	($0.66)	$1.19	$1.11	$0.54	$1.30	$1.56	$0.69	$0.59	$1.87
Weighted Average Basic Shares Outstanding	1.31B	1.02B	753M	895.80M	763.63M	768.37M	845.85M	846.56M	853.47M	856.56M	857.95M
Diluted Earnings per Share	$1.00	$3.23	($0.66)	$1.13	$1.07	$0.54	$1.28	$1.54	$0.68	$0.58	$1.83
Weighted Average Diluted Shares Outstanding	1.31B	1.02B	753M	895.80M	763.63M	768.37M	845.85M	846.56M	853.47M	856.56M	857.95M
Weighted Average Basic & Diluted Shares Outstanding	1.31B	1.02B	753M	895.80M	763.63M	768.37M	845.85M	846.56M	853.47M	856.56M	857.95M
Cash Dividends to Common per Share	$0.36	$0.54	$0.62	$0.72	$0.80	$0.88	$0.96	$1.08	$1.12	$1.12	$1.12

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	164	-40	209	104	-117	310	157	469	430	540	371
Consolidated Net Income / (Loss)	182	-28	225	122	-95	340	185	500	470	587	408
Net Income / (Loss) Continuing Operations	182	-28	225	122	-95	340	185	500	470	587	408
Total Pre-Tax Income	217	-38	296	172	-92	437	240	584	550	678	529
Total Operating Income	236	78	254	186	302	393	445	573	589	672	639
Total Gross Profit	1,004	911	993	949	1,137	1,197	1,214	1,392	1,520	1,495	1,528
Total Revenue	3,173	2,994	2,975	3,251	3,391	3,501	3,452	3,862	4,100	4,215	4,144
Operating Revenue	3,173	2,994	2,975	3,251	3,391	3,501	3,452	3,862	4,100	4,215	4,144
Total Cost of Revenue	2,169	2,083	1,982	2,302	2,254	2,304	2,238	2,470	2,580	2,720	2,616
Operating Cost of Revenue	2,169	2,083	1,982	2,302	2,254	2,304	2,238	2,470	2,580	2,720	2,616
Total Operating Expenses	768	833	739	763	835	804	769	819	931	823	889
Selling, General & Admin Expense	468	514	451	471	510	499	471	515	624	512	588
Research & Development Expense	270	289	258	262	294	275	270	276	280	284	278
Amortization Expense	30	30	30	30	31	30	28	28	27	27	23
Total Other Income / (Expense), net	-19	-116	42	-14	-394	44	-205	11	-39	6.00	-110
Interest Expense	82	90	83	84	83	79	82	83	78	93	92
Interest & Investment Income	10	13	12	10	12	13	12	5.00	10	11	9.00
Other Income / (Expense), net	53	-39	113	60	-323	110	-135	89	29	88	-27
Income Tax Expense	35	-10	71	50	3.00	97	55	84	80	91	121
Net Income / (Loss) Attributable to Noncontrolling Interest	18	12	16	18	22	30	28	31	40	47	37
Basic Earnings per Share	$0.19	($0.04)	$0.25	$0.12	($0.14)	$0.36	$0.18	$0.55	$0.50	$0.64	$0.43
Weighted Average Basic Shares Outstanding	853.17M	853.47M	856.62M	855.70M	856.21M	856.56M	856.47M	856.62M	857.36M	857.95M	860.64M
Diluted Earnings per Share	$0.19	($0.04)	$0.24	$0.12	($0.14)	$0.36	$0.18	$0.54	$0.50	$0.61	$0.43
Weighted Average Diluted Shares Outstanding	853.17M	853.47M	856.62M	855.70M	856.21M	856.56M	856.47M	856.62M	857.36M	857.95M	860.64M
Weighted Average Basic & Diluted Shares Outstanding	853.17M	853.47M	856.62M	855.70M	856.21M	856.56M	856.47M	856.62M	857.36M	857.95M	860.64M
Cash Dividends to Common per Share	-	-	$0.28	$0.56	-	-	$0.28	$0.56	-	-	$0.28

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	-809	791	-974	-1,963	79	238	-524	-477	108	-11	-202
Net Cash From Operating Activities	2,829	2,537	2,004	2,919	2,031	2,180	3,412	2,615	2,005	1,939	2,695
Net Cash From Continuing Operating Activities	2,829	2,537	2,004	2,919	1,944	2,180	3,412	2,615	2,005	1,939	2,695
Net Income / (Loss) Continuing Operations	1,339	3,695	-497	1,066	960	523	1,935	1,386	648	592	1,742
Consolidated Net Income / (Loss)	1,339	3,695	-497	1,066	960	523	1,935	1,386	648	592	1,742
Depreciation Expense	1,130	1,131	1,083	1,199	1,390	1,399	1,352	1,329	1,247	1,229	1,237
Amortization Expense	54	64	75	94	113	121	129	123	122	121	110
Non-Cash Adjustments To Reconcile Net Income	229	-2,164	-128	654	41	24	-221	-68	169	368	483
Changes in Operating Assets and Liabilities, net	77	-189	1,471	-94	-560	113	217	-155	-181	-371	-877
Net Cash From Investing Activities	-685	3,662	-1,710	-2,887	-1,891	-1,310	-1,419	-1,355	-1,000	-744	-1,243
Net Cash From Continuing Investing Activities	-685	3,662	-1,710	-2,887	-1,969	-1,310	-1,419	-1,355	-1,000	-744	-1,243
Purchase of Property, Plant & Equipment	-1,250	-1,130	-1,804	-2,310	-1,978	-1,377	-1,637	-1,604	-1,390	-965	-1,282
Purchase of Investments	-969	-20	-	-	-	-9.00	-48	-75	-26	-105	-256
Sale of Property, Plant & Equipment	-	-	-	-	0.00	37	0.00	0.00	89	80	11
Sale and/or Maturity of Investments	2,282	322	270	108	55	12	67	300	326	279	304
Other Investing Activities, net	-28	4,823	-5.00	157	-46	27	96	-52	1.00	-33	-20
Net Cash From Financing Activities	-2,623	-5,322	-1,624	-1,995	-47	-729	-2,452	-1,649	-883	-1,164	-1,672
Net Cash From Continuing Financing Activities	-2,623	-5,322	-1,624	-1,995	-47	-729	-2,452	-1,649	-883	-1,164	-1,672
Repayment of Debt	-18	-572	-275	-649	-300	-193	-858	-109	-287	-265	-425
Repurchase of Preferred Equity	-	-	-	-	0.00	0.00	-507	-507	-507	0.00	0.00
Repurchase of Common Equity	-3,228	-4,227	-2,452	-2,227	-940	-105	-274	-221	0.00	-165	-163
Payment of Dividends	-679	-645	-651	-685	-742	-787	-871	-932	-989	-986	-999
Issuance of Debt	1,230	0.00	1,445	1,485	1,894	243	22	127	1,000	153	294
Other Financing Activities, net	72	122	309	81	41	113	36	-7.00	-100	99	-379
Other Net Changes in Cash	-	-	356	-	-14	-	-	-	-14	-42	18

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	101	140	-414	54	194	155	-409	132	157	-82	213
Net Cash From Operating Activities	722	713	96	521	699	623	151	708	784	1,052	362
Net Cash From Continuing Operating Activities	722	713	96	521	699	623	151	708	784	1,052	362
Net Income / (Loss) Continuing Operations	182	-28	225	122	-95	340	185	500	470	587	408
Consolidated Net Income / (Loss)	182	-28	225	122	-95	340	185	500	470	587	408
Depreciation Expense	310	315	307	307	310	305	291	312	310	324	334
Amortization Expense	30	30	30	30	31	30	28	28	27	27	23
Non-Cash Adjustments To Reconcile Net Income	40	137	-85	159	477	-142	182	23	-15	293	-46
Changes in Operating Assets and Liabilities, net	160	259	-381	-97	-24	90	-535	-155	-8.00	-179	-357
Net Cash From Investing Activities	-255	-230	-184	-154	-199	-207	-165	-301	-299	-478	-203
Net Cash From Continuing Investing Activities	-255	-230	-184	-154	-199	-207	-165	-301	-299	-478	-203
Purchase of Property, Plant & Equipment	-341	-279	-252	-242	-217	-254	-208	-308	-334	-432	-332
Sale and/or Maturity of Investments	93	56	94	74	71	40	56	51	85	112	150
Other Investing Activities, net	-7.00	2.00	-26	14	-53	105	-13	-44	-50	87	-21
Net Cash From Financing Activities	-356	-363	-308	-304	-332	-220	-403	-293	-324	-652	59
Net Cash From Continuing Financing Activities	-356	-363	-308	-304	-332	-220	-403	-293	-324	-652	59
Repayment of Debt	-170	-63	-44	-12	-218	-21	-67	-244	-60	-54	-75
Repurchase of Common Equity	-	-	0.00	-	-30	-30	-100	-33	-25	-5.00	0.00
Payment of Dividends	-246	-248	-243	-252	-242	-249	-242	-261	-241	-255	-244
Issuance of Debt	60	-52	-	-	153	-	0.00	-	-	9.00	427
Other Financing Activities, net	-	-	-21	65	5.00	80	6.00	-40	2.00	-347	-49
Effect of Exchange Rate Changes	-10	20	-18	-9.00	26	-41	8.00	-	-	-	-5.00

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	28,527	27,899	27,494	27,505	28,898	30,775	30,154	29,499	28,500	27,735	30,976
Total Current Assets	8,269	9,048	8,827	7,034	7,463	8,004	7,659	7,453	7,212	7,992	8,936
Cash & Equivalents	4,500	5,291	4,317	2,355	2,434	2,672	2,148	1,671	1,779	1,768	1,526
Accounts Receivable	1,372	1,481	1,807	1,940	1,836	2,133	2,004	1,721	1,572	2,053	2,779
Inventories, net	1,385	1,471	1,712	2,037	2,320	2,438	2,481	2,904	2,666	2,724	3,077
Other Current Assets	912	805	991	702	873	761	1,026	1,157	1,195	1,447	1,554
Plant, Property, & Equipment, net	12,648	12,546	14,017	14,895	15,337	15,742	15,804	15,371	14,630	13,359	14,825
Total Noncurrent Assets	7,610	6,305	4,650	5,576	6,098	7,029	6,691	6,675	6,658	6,384	7,215
Goodwill	1,380	1,577	1,694	1,936	1,935	2,460	2,421	2,394	2,380	2,363	2,489
Intangible Assets	706	796	869	1,292	1,185	1,308	1,148	1,029	905	752	657
Noncurrent Deferred & Refundable Income Taxes	2,056	2,325	813	951	1,157	1,121	1,066	1,073	1,153	1,130	1,515
Other Noncurrent Operating Assets	1,493	1,271	934	1,021	1,821	2,140	2,056	2,179	2,220	2,139	2,554
Total Liabilities & Shareholders' Equity	28,527	27,899	27,494	27,505	28,898	30,775	30,154	29,499	28,500	27,735	30,976
Total Liabilities	9,664	9,939	11,724	13,619	15,901	17,327	17,609	17,224	16,632	16,665	18,669
Total Current Liabilities	2,814	2,751	3,209	3,311	3,521	3,767	4,806	5,175	4,319	4,919	5,628
Short-Term Debt	572	256	379	4.00	11	156	55	224	320	326	804
Accounts Payable	934	1,079	1,439	1,456	1,587	1,174	1,612	1,804	1,466	1,472	1,979
Accrued Expenses	1,308	1,416	1,391	1,851	1,923	2,437	3,139	3,147	2,533	3,121	2,845
Total Noncurrent Liabilities	6,850	7,188	8,515	10,308	12,380	13,560	12,803	12,049	12,313	11,746	13,041
Long-Term Debt	3,890	3,646	4,749	5,994	7,729	7,816	6,989	6,687	7,206	6,885	7,630
Noncurrent Employee Benefit Liabilities	718	737	749	662	671	727	622	407	398	336	314
Other Noncurrent Operating Liabilities	2,242	2,805	3,017	3,652	3,980	5,017	5,192	4,955	4,709	4,525	5,097
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	18,863	17,960	15,770	13,886	12,997	13,448	12,545	12,275	11,868	11,070	12,307
Total Preferred & Common Equity	18,788	17,893	15,698	13,792	12,907	13,257	12,333	12,008	11,551	10,686	11,807
Total Common Equity	16,488	15,593	13,398	11,492	10,607	10,957	12,333	12,008	11,551	10,686	11,807
Common Stock	14,192	14,541	14,943	15,069	15,182	15,505	17,382	17,592	17,845	18,185	18,504
Retained Earnings	13,832	16,880	15,930	16,303	16,408	16,120	16,389	16,778	16,391	15,926	16,551
Accumulated Other Comprehensive Income / (Loss)	-1,811	-1,676	-842	-1,010	-1,171	-740	-1,175	-1,830	-2,048	-2,543	-2,105
Other Equity Adjustments	-	-	-	-	-	-	-	-	-	-	-21,143
Noncontrolling Interest	75	67	72	94	90	191	212	267	317	384	500

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	28,645	28,278	28,500	27,618	27,179	28,322	27,735	27,394	28,745	29,916	31,253
Total Current Assets	7,293	7,298	7,212	6,971	7,121	7,676	7,992	7,644	8,196	8,677	9,526
Cash & Equivalents	1,538	1,639	1,779	1,365	1,419	1,613	1,768	1,359	1,491	1,648	1,755
Accounts Receivable	1,674	1,725	1,572	1,621	1,721	1,986	2,053	2,045	2,298	2,509	2,676
Inventories, net	2,757	2,655	2,666	2,713	2,682	2,793	2,724	2,896	3,084	3,104	3,279
Other Current Assets	1,324	1,279	1,195	1,272	1,299	1,284	1,447	1,344	1,323	1,416	1,816
Plant, Property, & Equipment, net	14,681	14,407	14,630	14,199	13,742	14,059	13,359	13,360	13,881	14,397	14,785
Total Noncurrent Assets	6,671	6,573	6,658	6,448	6,316	6,587	6,384	6,390	6,668	6,842	6,942
Goodwill	2,382	2,372	2,380	2,370	2,365	2,390	2,363	2,371	2,492	2,489	2,479
Intangible Assets	972	938	905	871	836	814	752	732	711	684	632
Noncurrent Deferred & Refundable Income Taxes	1,083	1,037	1,153	1,132	1,134	1,211	1,130	1,183	1,187	1,296	1,569
Other Noncurrent Operating Assets	2,234	2,226	2,220	2,075	1,981	2,172	2,139	2,104	2,278	2,373	2,262
Total Liabilities & Shareholders' Equity	28,645	28,278	28,500	27,618	27,179	28,322	27,735	27,394	28,745	29,916	31,253
Total Liabilities	16,935	16,534	16,632	16,059	16,252	16,855	16,665	16,266	17,200	17,911	18,904
Total Current Liabilities	4,411	4,285	4,319	4,175	4,526	4,637	4,919	4,523	5,475	5,577	5,916
Short-Term Debt	187	297	320	318	376	335	326	283	786	812	1,255
Accounts Payable	1,519	1,459	1,466	1,476	1,466	1,565	1,472	1,737	1,931	2,029	2,251
Accrued Expenses	2,705	2,529	2,533	2,381	2,684	2,737	3,121	2,503	2,758	2,736	2,410
Total Noncurrent Liabilities	12,524	12,249	12,313	11,884	11,726	12,218	11,746	11,743	11,725	12,334	12,988
Long-Term Debt	7,437	7,210	7,206	7,050	6,908	7,073	6,885	6,954	6,714	7,407	7,718
Noncurrent Employee Benefit Liabilities	407	406	398	399	360	357	336	333	302	301	311
Other Noncurrent Operating Liabilities	4,680	4,633	4,709	4,435	4,458	4,788	4,525	4,456	4,709	4,626	4,959
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	11,710	11,744	11,868	11,559	10,927	11,467	11,070	11,128	11,545	12,005	12,349
Total Preferred & Common Equity	11,412	11,430	11,551	11,226	10,585	11,103	10,686	10,716	11,116	11,536	11,812
Total Common Equity	11,412	11,430	11,551	11,226	10,585	11,103	10,686	10,716	11,116	11,536	11,812
Common Stock	17,732	17,792	17,845	17,915	18,000	18,097	18,185	18,249	18,312	18,427	18,629
Retained Earnings	16,509	16,673	16,391	16,358	15,976	15,859	15,926	15,839	15,823	16,253	16,680
Accumulated Other Comprehensive Income / (Loss)	-2,199	-2,402	-2,048	-2,375	-2,592	-2,008	-2,543	-2,360	-1,934	-2,017	-2,291
Other Equity Adjustments	-20,630	-	-	-	0.00	-	-	-	-	-	-21,206
Noncontrolling Interest	298	314	317	333	342	364	384	412	429	469	537

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.22%	3.06%	7.73%	11.61%	1.89%	-1.74%	24.59%	0.76%	-11.28%	4.21%	19.14%
EBITDA Growth	-45.86%	-17.51%	24.83%	-0.20%	13.40%	-16.78%	73.75%	-15.97%	-29.78%	-1.25%	51.21%
EBIT Growth	-61.58%	-34.23%	63.68%	-9.96%	10.51%	-36.03%	203.35%	-23.61%	-46.62%	-1.08%	114.61%
NOPAT Growth	-10.96%	19.64%	-133.84%	331.61%	-7.70%	-59.28%	301.19%	-34.16%	-36.28%	16.94%	134.09%
Net Income Growth	-45.83%	175.95%	-113.45%	314.49%	-9.94%	-45.52%	269.98%	-28.37%	-53.25%	-8.64%	194.26%
EPS Growth	-42.20%	223.00%	-120.43%	271.21%	-5.31%	-49.53%	137.04%	20.31%	-55.84%	-14.71%	215.52%
Operating Cash Flow Growth	-39.92%	-10.32%	-21.01%	45.66%	-30.42%	7.34%	56.51%	-23.36%	-23.33%	-3.29%	38.99%
Free Cash Flow Firm Growth	175.26%	30.46%	-125.17%	142.00%	-158.00%	78.89%	12,011.34%	-65.40%	-41.38%	217.83%	-139.79%
Invested Capital Growth	-1.74%	-3.07%	0.04%	5.62%	6.70%	2.43%	-6.97%	0.42%	0.57%	-6.26%	16.36%
Revenue Q/Q Growth	-1.86%	2.68%	1.62%	3.65%	-1.86%	4.95%	2.37%	-1.87%	-3.17%	4.02%	4.79%
EBITDA Q/Q Growth	-33.21%	-19.80%	45.02%	-9.22%	3.50%	13.86%	5.03%	-14.60%	-1.43%	22.80%	7.97%
EBIT Q/Q Growth	-48.74%	-37.25%	130.11%	-18.32%	2.64%	48.92%	8.56%	-21.56%	-3.06%	73.53%	12.28%
NOPAT Q/Q Growth	-15.11%	-15.42%	-139.75%	303.97%	-19.55%	147.65%	2.62%	-24.72%	4.05%	52.08%	17.18%
Net Income Q/Q Growth	-36.33%	57.44%	-119.98%	267.08%	-21.31%	79.11%	13.82%	-27.47%	-0.15%	164.29%	16.52%
EPS Q/Q Growth	-33.33%	63.96%	-128.21%	239.51%	-24.65%	125.00%	24.27%	-29.36%	0.00%	222.22%	15.82%
Operating Cash Flow Q/Q Growth	-4.33%	21.21%	-21.23%	1.85%	3.94%	-10.07%	7.87%	-13.44%	5.03%	-4.44%	18.93%
Free Cash Flow Firm Q/Q Growth	-6.07%	-18.99%	-1,098.51%	12.46%	-942.69%	-105.50%	19.83%	-49.12%	315.36%	115.85%	-327.67%
Invested Capital Q/Q Growth	-2.88%	-1.83%	-8.71%	0.54%	-0.28%	3.77%	1.33%	5.19%	0.02%	-4.34%	3.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.09%	40.07%	39.74%	39.51%	35.08%	31.24%	35.95%	31.76%	31.23%	32.60%	35.97%
EBITDA Margin	27.33%	21.87%	25.35%	22.67%	25.23%	21.37%	29.80%	24.85%	19.67%	18.64%	23.65%
Operating Margin	14.51%	15.17%	15.90%	13.95%	11.35%	4.50%	15.00%	10.13%	7.07%	8.65%	14.58%
EBIT Margin	14.33%	9.15%	13.90%	11.21%	12.16%	7.92%	19.28%	14.62%	8.79%	8.35%	15.04%
Profit (Net Income) Margin	14.70%	39.35%	-4.91%	9.44%	8.35%	4.63%	13.74%	9.77%	5.15%	4.51%	11.15%
Tax Burden Percent	90.11%	100.08%	-29.99%	70.92%	78.95%	82.49%	79.76%	77.13%	79.41%	72.82%	84.89%
Interest Burden Percent	113.78%	429.80%	117.85%	118.72%	86.92%	70.84%	89.36%	86.64%	73.71%	74.25%	87.32%
Effective Tax Rate	9.89%	-0.08%	129.99%	29.08%	21.05%	17.51%	20.24%	22.87%	20.59%	27.18%	15.11%
Return on Invested Capital (ROIC)	7.05%	8.64%	-2.97%	6.69%	5.82%	2.27%	9.31%	6.35%	4.02%	4.84%	10.83%
ROIC Less NNEP Spread (ROIC-NNEP)	2.65%	-109.64%	-0.63%	3.96%	4.16%	4.21%	14.22%	11.81%	2.95%	0.65%	7.71%
Return on Net Nonoperating Assets (RNNOA)	-0.44%	11.43%	0.02%	0.50%	1.33%	1.69%	5.58%	4.82%	1.34%	0.32%	4.07%
Return on Equity (ROE)	6.61%	20.07%	-2.95%	7.19%	7.14%	3.96%	14.89%	11.17%	5.37%	5.16%	14.90%
Cash Return on Invested Capital (CROIC)	8.80%	11.76%	-3.01%	1.23%	-0.67%	-0.14%	16.53%	5.92%	3.45%	11.30%	-4.30%
Operating Return on Assets (OROA)	4.46%	3.04%	5.08%	4.60%	4.96%	3.00%	8.91%	6.95%	3.82%	3.89%	8.01%
Return on Assets (ROA)	4.57%	13.10%	-1.79%	3.88%	3.40%	1.75%	6.35%	4.65%	2.23%	2.11%	5.93%
Return on Common Equity (ROCE)	5.84%	17.48%	-2.53%	6.03%	5.87%	3.23%	13.34%	10.95%	5.24%	5.00%	14.34%
Return on Equity Simple (ROE_SIMPLE)	7.13%	20.65%	-3.17%	7.73%	7.44%	3.95%	15.69%	11.54%	5.61%	5.54%	0.00%
Net Operating Profit after Tax (NOPAT)	1,191	1,425	-482	1,117	1,031	420	1,685	1,109	707	826	1,935
NOPAT Margin	13.07%	15.18%	-4.77%	9.89%	8.96%	3.71%	11.96%	7.82%	5.61%	6.30%	12.38%
Net Nonoperating Expense Percent (NNEP)	4.40%	118.28%	-2.34%	2.73%	1.66%	-1.94%	-4.91%	-5.46%	1.07%	4.19%	3.12%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.78%	3.64%	4.52%	9.33%
Cost of Revenue to Revenue	59.91%	59.93%	60.26%	60.49%	64.92%	68.76%	64.05%	68.24%	68.77%	67.40%	64.03%
SG&A Expenses to Revenue	16.55%	15.57%	14.56%	15.93%	13.78%	15.46%	12.97%	13.38%	14.64%	14.72%	13.58%
R&D to Revenue	8.44%	7.84%	8.54%	8.80%	8.96%	10.21%	7.07%	7.38%	8.55%	8.30%	7.10%
Operating Expenses to Revenue	25.58%	24.91%	23.84%	25.56%	23.72%	26.74%	20.96%	21.62%	24.16%	23.94%	21.38%
Earnings before Interest and Taxes (EBIT)	1,306	859	1,406	1,266	1,399	895	2,715	2,074	1,107	1,095	2,350
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,490	2,054	2,564	2,559	2,902	2,415	4,196	3,526	2,476	2,445	3,697
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.04	1.20	1.72	1.79	1.84	2.26	2.37	2.11	2.18	3.81	6.36
Price to Tangible Book Value (P/TBV)	1.19	1.42	2.13	2.48	2.61	3.44	3.34	2.95	3.05	5.37	8.67
Price to Revenue (P/Rev)	1.88	2.00	2.28	1.82	1.70	2.19	2.08	1.79	2.00	3.10	4.80
Price to Earnings (P/E)	12.77	5.07	0.00	19.25	22.65	59.76	27.13	19.25	43.44	80.41	47.04
Dividend Yield	3.32%	2.74%	2.34%	2.81%	3.15%	2.72%	2.80%	3.61%	3.79%	2.36%	1.28%
Earnings Yield	7.83%	19.72%	0.00%	5.19%	4.42%	1.67%	3.69%	5.20%	2.30%	1.24%	2.13%
Enterprise Value to Invested Capital (EV/IC)	1.04	1.19	1.59	1.53	1.49	1.74	1.97	1.76	1.78	2.82	4.29
Enterprise Value to Revenue (EV/Rev)	1.91	2.06	2.56	2.32	2.37	2.88	2.44	2.17	2.49	3.55	5.28
Enterprise Value to EBITDA (EV/EBITDA)	6.97	9.43	10.10	10.23	9.38	13.47	8.19	8.75	12.64	19.02	22.31
Enterprise Value to EBIT (EV/EBIT)	13.30	22.56	18.41	20.68	19.45	36.35	12.66	14.87	28.28	42.48	35.10
Enterprise Value to NOPAT (EV/NOPAT)	14.58	13.60	0.00	23.44	26.40	77.47	20.41	27.81	44.29	56.28	42.63
Enterprise Value to Operating Cash Flow (EV/OCF)	6.14	7.64	12.92	8.97	13.40	14.92	10.08	11.79	15.61	23.99	30.60
Enterprise Value to Free Cash Flow (EV/FCFF)	11.68	9.99	0.00	127.70	0.00	0.00	11.49	29.79	51.59	24.12	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.24	0.22	0.33	0.43	0.60	0.59	0.56	0.56	0.63	0.65	0.69
Long-Term Debt to Equity	0.21	0.20	0.30	0.43	0.59	0.58	0.56	0.54	0.61	0.62	0.62
Financial Leverage	-0.17	-0.10	-0.04	0.13	0.32	0.40	0.39	0.41	0.46	0.49	0.53
Leverage Ratio	1.45	1.53	1.64	1.85	2.10	2.26	2.34	2.40	2.40	2.45	2.51
Compound Leverage Factor	1.65	6.59	1.94	2.20	1.82	1.60	2.09	2.08	1.77	1.82	2.19
Debt to Total Capital	19.13%	17.85%	24.54%	30.17%	37.32%	37.22%	35.96%	36.02%	38.81%	39.45%	40.66%
Short-Term Debt to Total Capital	2.45%	1.17%	1.81%	0.02%	0.05%	0.73%	0.28%	1.17%	1.65%	1.78%	3.88%
Long-Term Debt to Total Capital	16.68%	16.68%	22.72%	30.14%	37.27%	36.49%	35.68%	34.85%	37.16%	37.66%	36.79%
Preferred Equity to Total Capital	9.86%	10.52%	11.01%	11.57%	11.09%	10.74%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.32%	0.31%	0.34%	0.47%	0.43%	0.89%	1.08%	1.39%	1.63%	2.10%	2.41%
Common Equity to Total Capital	70.69%	71.32%	64.11%	57.80%	51.15%	51.15%	62.96%	62.59%	59.56%	58.45%	56.93%
Debt to EBITDA	1.79	1.90	2.00	2.34	2.67	3.30	1.68	1.96	3.04	2.95	2.28
Net Debt to EBITDA	-0.85	-0.84	0.18	1.28	1.83	2.19	1.17	1.49	2.32	2.23	1.87
Long-Term Debt to EBITDA	1.56	1.78	1.85	2.34	2.66	3.24	1.67	1.90	2.91	2.82	2.06
Debt to NOPAT	3.75	2.74	-10.63	5.37	7.51	18.99	4.18	6.23	10.65	8.73	4.36
Net Debt to NOPAT	-1.77	-1.21	-0.98	2.92	5.15	12.62	2.91	4.72	8.13	6.59	3.57
Long-Term Debt to NOPAT	3.27	2.56	-9.85	5.37	7.50	18.61	4.15	6.03	10.20	8.33	3.94
Altman Z-Score	2.44	2.69	2.77	2.46	2.25	2.22	2.64	2.48	2.41	3.01	4.04
Noncontrolling Interest Sharing Ratio	11.72%	12.88%	14.05%	16.07%	17.80%	18.46%	10.40%	1.93%	2.42%	3.06%	3.78%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.94	3.29	2.75	2.12	2.12	2.12	1.59	1.44	1.67	1.62	1.59
Quick Ratio	2.12	2.46	1.91	1.30	1.21	1.28	0.86	0.66	0.78	0.78	0.76
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,487	1,940	-488	205	-119	-25	2,992	1,035	607	1,928	-767
Operating Cash Flow to CapEx	226.32%	224.51%	111.09%	126.36%	102.68%	162.69%	208.43%	163.03%	151.55%	200.93%	212.04%
Free Cash Flow to Firm to Interest Expense	10.62	12.20	-3.15	1.07	-0.54	-0.09	9.97	3.54	1.84	5.86	-2.28
Operating Cash Flow to Interest Expense	20.21	15.96	12.93	15.28	9.19	7.90	11.37	8.96	6.09	5.89	8.02
Operating Cash Flow Less CapEx to Interest Expense	11.28	8.85	1.29	3.19	0.24	3.04	5.92	3.46	2.07	2.96	4.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.31	0.33	0.37	0.41	0.41	0.38	0.46	0.48	0.43	0.47	0.53
Accounts Receivable Turnover	6.34	6.58	6.15	6.03	6.09	5.70	6.81	7.62	7.65	7.24	6.47
Inventory Turnover	4.03	3.94	3.83	3.64	3.43	3.27	3.67	3.60	3.11	3.28	3.45
Fixed Asset Turnover	0.72	0.75	0.76	0.78	0.76	0.73	0.89	0.91	0.84	0.94	1.11
Accounts Payable Turnover	5.65	5.59	4.84	4.72	4.91	5.63	6.47	5.67	5.29	6.02	5.80
Days Sales Outstanding (DSO)	57.55	55.45	59.32	60.57	59.91	64.08	53.61	47.91	47.74	50.43	56.42
Days Inventory Outstanding (DIO)	90.51	92.63	95.29	100.19	106.47	111.73	99.54	101.49	117.42	111.25	105.78
Days Payable Outstanding (DPO)	64.57	65.29	75.38	77.37	74.36	64.83	56.37	64.38	68.94	60.64	62.93
Cash Conversion Cycle (CCC)	83.50	82.79	79.23	83.39	92.02	110.98	96.78	85.02	96.23	101.04	99.28
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	16,750	16,235	16,241	17,153	18,303	18,748	17,441	17,515	17,615	16,513	19,215
Invested Capital Turnover	0.54	0.57	0.62	0.68	0.65	0.61	0.78	0.81	0.72	0.77	0.87
Increase / (Decrease) in Invested Capital	-296	-515	6.00	912	1,150	445	-1,307	74	100	-1,102	2,702
Enterprise Value (EV)	17,364	19,376	25,886	26,187	27,217	32,530	34,378	30,839	31,302	46,514	82,478
Market Capitalization	17,102	18,734	23,043	20,526	19,521	24,739	29,270	25,332	25,238	40,687	75,070
Book Value per Share	$13.94	$16.39	$15.42	$14.36	$13.79	$14.34	$14.45	$14.20	$13.54	$12.48	$13.77
Tangible Book Value per Share	$12.17	$13.90	$12.47	$10.32	$9.73	$9.41	$10.27	$10.15	$9.69	$8.84	$10.10
Total Capital	23,325	21,862	20,898	19,884	20,737	21,420	19,589	19,186	19,394	18,281	20,741
Total Debt	4,462	3,902	5,128	5,998	7,740	7,972	7,044	6,911	7,526	7,211	8,434
Total Long-Term Debt	3,890	3,646	4,749	5,994	7,729	7,816	6,989	6,687	7,206	6,885	7,630
Net Debt	-2,113	-1,725	471	3,267	5,306	5,300	4,896	5,240	5,747	5,443	6,908
Capital Expenditures (CapEx)	1,250	1,130	1,804	2,310	1,978	1,340	1,637	1,604	1,323	965	1,271
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,427	1,262	1,680	1,372	1,519	1,721	760	831	1,434	1,631	2,586
Debt-free Net Working Capital (DFNWC)	6,027	6,553	5,997	3,727	3,953	4,393	2,908	2,502	3,213	3,399	4,112
Net Working Capital (NWC)	5,455	6,297	5,618	3,723	3,942	4,237	2,853	2,278	2,893	3,073	3,308
Net Nonoperating Expense (NNE)	-148	-2,270	15	51	71	-103	-250	-277	59	234	193
Net Nonoperating Obligations (NNO)	-2,113	-1,725	471	3,267	5,306	5,300	4,896	5,240	5,747	5,443	6,908
Total Depreciation and Amortization (D&A)	1,184	1,195	1,158	1,293	1,503	1,520	1,481	1,452	1,369	1,350	1,347
Debt-free, Cash-free Net Working Capital to Revenue	15.66%	13.44%	16.61%	12.15%	13.21%	15.23%	5.40%	5.86%	11.39%	12.43%	16.55%
Debt-free Net Working Capital to Revenue	66.15%	69.79%	59.28%	33.01%	34.36%	38.87%	20.65%	17.63%	25.52%	25.91%	26.31%
Net Working Capital to Revenue	59.87%	67.06%	55.54%	32.98%	34.27%	37.49%	20.26%	16.05%	22.98%	23.43%	21.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.02	$3.53	($0.66)	$1.19	$1.11	$0.54	$1.30	$1.56	$0.69	$0.59	$1.87
Adjusted Weighted Average Basic Shares Outstanding	1.11B	928.09M	857.45M	786.76M	763.63M	768.37M	845.85M	846.56M	853.47M	856.56M	857.95M
Adjusted Diluted Earnings per Share	$1.00	$3.23	($0.66)	$1.13	$1.07	$0.54	$1.28	$1.54	$0.68	$0.58	$1.83
Adjusted Weighted Average Diluted Shares Outstanding	1.11B	928.09M	857.45M	786.76M	763.63M	768.37M	845.85M	846.56M	853.47M	856.56M	857.95M
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	1.11B	928.09M	857.45M	786.76M	763.63M	768.37M	845.85M	846.56M	853.47M	856.56M	857.95M
Normalized Net Operating Profit after Tax (NOPAT)	1,191	1,051	1,126	1,117	1,031	420	1,685	1,109	707	826	1,935
Normalized NOPAT Margin	13.07%	11.19%	11.13%	9.89%	8.96%	3.71%	11.96%	7.82%	5.61%	6.30%	12.38%
Pre Tax Income Margin	16.31%	39.32%	16.38%	13.31%	10.57%	5.61%	17.23%	12.66%	6.48%	6.20%	13.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.33	5.40	9.07	6.63	6.33	3.24	9.05	7.10	3.36	3.33	6.99
NOPAT to Interest Expense	8.51	8.96	-3.11	5.85	4.67	1.52	5.62	3.80	2.15	2.51	5.76
EBIT Less CapEx to Interest Expense	0.40	-1.70	-2.57	-5.47	-2.62	-1.61	3.59	1.61	-0.66	0.40	3.21
NOPAT Less CapEx to Interest Expense	-0.42	1.86	-14.75	-6.25	-4.28	-3.33	0.16	-1.69	-1.87	-0.42	1.98
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	50.71%	17.46%	-130.99%	64.26%	77.29%	150.48%	45.01%	67.24%	152.62%	166.55%	57.35%
Augmented Payout Ratio	291.78%	131.85%	-624.35%	273.17%	175.21%	170.55%	59.17%	83.19%	152.62%	194.43%	66.70%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	857,948,109.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	857,948,109.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.43
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-9.03%	-12.10%	-6.39%	0.25%	6.87%	16.93%	16.03%	18.79%	20.91%	20.39%	20.05%
EBITDA Growth	-8.58%	-8.57%	10.34%	-29.33%	-49.13%	118.23%	-10.65%	71.87%	198.44%	32.58%	54.05%
EBIT Growth	-12.42%	-47.30%	23.57%	-48.96%	-107.27%	1,189.74%	-15.53%	169.11%	3,042.86%	51.09%	97.42%
NOPAT Growth	-22.02%	109.41%	-22.40%	-36.17%	6.80%	460.01%	77.66%	271.85%	138.09%	90.28%	43.68%
Net Income Growth	-19.47%	-3.70%	17.80%	-59.74%	-152.20%	1,314.29%	-17.78%	309.84%	594.74%	72.65%	120.54%
EPS Growth	-20.83%	0.00%	20.00%	-63.64%	-173.68%	1,000.00%	-25.00%	350.00%	457.14%	69.44%	138.89%
Operating Cash Flow Growth	2.27%	15.56%	295.92%	-15.83%	-3.19%	-12.62%	57.29%	35.89%	12.16%	68.86%	139.74%
Free Cash Flow Firm Growth	-193.65%	93.06%	695.49%	359.16%	173.57%	3,200.81%	65.54%	-123.89%	-244.40%	-250.61%	-330.05%
Invested Capital Growth	5.77%	0.57%	-1.95%	-5.64%	-1.99%	-6.26%	-3.17%	4.54%	7.61%	16.36%	15.06%
Revenue Q/Q Growth	-2.16%	-5.64%	-0.63%	9.28%	4.31%	3.24%	-1.40%	11.88%	6.16%	2.80%	-1.68%
EBITDA Q/Q Growth	-23.76%	-38.95%	83.33%	-17.19%	-45.11%	161.88%	-24.94%	59.30%	-4.69%	16.34%	-12.78%
EBIT Q/Q Growth	-40.04%	-86.51%	841.03%	-32.97%	-108.54%	2,495.24%	-38.37%	113.55%	-6.65%	22.98%	-19.47%
NOPAT Q/Q Growth	-4.24%	-72.42%	253.62%	-31.67%	60.24%	44.64%	12.18%	43.02%	2.60%	15.59%	-15.29%
Net Income Q/Q Growth	-39.93%	-115.38%	903.57%	-45.78%	-177.87%	457.89%	-45.59%	170.27%	-6.00%	24.89%	-30.49%
EPS Q/Q Growth	-42.42%	-121.05%	700.00%	-50.00%	-216.67%	357.14%	-50.00%	200.00%	-7.41%	22.00%	-29.51%
Operating Cash Flow Q/Q Growth	16.64%	-1.25%	-86.54%	442.71%	34.17%	-10.87%	-75.76%	368.87%	10.73%	34.18%	-65.59%
Free Cash Flow Firm Q/Q Growth	-74.09%	94.05%	1,296.20%	109.17%	-50.58%	150.76%	-36.14%	-130.19%	-198.68%	-161.54%	2.45%
Invested Capital Q/Q Growth	-1.03%	0.02%	-0.30%	-4.38%	2.80%	-4.34%	2.99%	3.22%	5.82%	3.44%	1.83%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.64%	30.43%	33.38%	29.19%	33.53%	34.19%	35.17%	36.04%	37.07%	35.47%	36.87%
EBITDA Margin	19.82%	12.83%	23.66%	17.93%	9.44%	23.94%	18.22%	25.95%	23.29%	26.36%	23.38%
Operating Margin	7.44%	2.61%	8.54%	5.72%	8.91%	11.23%	12.89%	14.84%	14.37%	15.94%	15.42%
EBIT Margin	9.11%	1.30%	12.34%	7.57%	-0.62%	14.37%	8.98%	17.14%	15.07%	18.03%	14.77%
Profit (Net Income) Margin	5.74%	-0.94%	7.56%	3.75%	-2.80%	9.71%	5.36%	12.95%	11.46%	13.93%	9.85%
Tax Burden Percent	83.87%	73.68%	76.01%	70.93%	103.26%	77.80%	77.08%	85.62%	85.45%	86.58%	77.13%
Interest Burden Percent	75.09%	-97.44%	80.65%	69.92%	438.10%	86.88%	77.42%	88.22%	89.00%	89.21%	86.44%
Effective Tax Rate	16.13%	0.00%	23.99%	29.07%	0.00%	22.20%	22.92%	14.38%	14.55%	13.42%	22.87%
Return on Invested Capital (ROIC)	4.73%	1.31%	4.53%	2.91%	4.51%	6.71%	7.82%	10.51%	10.22%	12.08%	10.61%
ROIC Less NNEP Spread (ROIC-NNEP)	4.44%	-0.20%	5.08%	2.74%	-0.75%	7.33%	5.16%	10.67%	9.68%	12.16%	9.32%
Return on Net Nonoperating Assets (RNNOA)	2.09%	-0.09%	2.50%	1.45%	-0.37%	3.57%	2.70%	5.64%	5.10%	6.42%	5.20%
Return on Equity (ROE)	6.83%	1.22%	7.03%	4.36%	4.13%	10.29%	10.52%	16.14%	15.32%	18.50%	15.81%
Cash Return on Invested Capital (CROIC)	-1.64%	3.45%	5.66%	9.18%	5.12%	11.30%	8.81%	3.50%	1.88%	-4.30%	-2.65%
Operating Return on Assets (OROA)	4.15%	0.57%	5.41%	3.36%	-0.28%	6.70%	4.44%	8.71%	7.72%	9.60%	8.22%
Return on Assets (ROA)	2.62%	-0.41%	3.32%	1.67%	-1.25%	4.53%	2.65%	6.58%	5.87%	7.41%	5.48%
Return on Common Equity (ROCE)	6.66%	1.19%	6.85%	4.23%	4.01%	9.97%	10.17%	15.59%	14.77%	17.80%	15.17%
Return on Equity Simple (ROE_SIMPLE)	5.68%	0.00%	6.08%	4.73%	2.02%	0.00%	5.15%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	198	55	193	132	211	306	343	491	503	582	493
NOPAT Margin	6.24%	1.82%	6.49%	4.06%	6.23%	8.73%	9.94%	12.70%	12.28%	13.80%	11.89%
Net Nonoperating Expense Percent (NNEP)	0.29%	1.50%	-0.55%	0.17%	5.25%	-0.61%	2.66%	-0.16%	0.54%	-0.08%	1.30%
Return On Investment Capital (ROIC_SIMPLE)	-	0.28%	-	-	-	1.67%	1.87%	2.58%	2.49%	2.81%	2.31%
Cost of Revenue to Revenue	68.36%	69.57%	66.62%	70.81%	66.47%	65.81%	64.83%	63.96%	62.93%	64.53%	63.13%
SG&A Expenses to Revenue	14.75%	17.17%	15.16%	14.49%	15.04%	14.25%	13.64%	13.34%	15.22%	12.15%	14.19%
R&D to Revenue	8.51%	9.65%	8.67%	8.06%	8.67%	7.85%	7.82%	7.15%	6.83%	6.74%	6.71%
Operating Expenses to Revenue	24.20%	27.82%	24.84%	23.47%	24.62%	22.96%	22.28%	21.21%	22.71%	19.53%	21.45%
Earnings before Interest and Taxes (EBIT)	289	39	367	246	-21	503	310	662	618	760	612
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	629	384	704	583	320	838	629	1,002	955	1,111	969
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.20	2.18	2.49	3.14	3.48	3.81	3.66	4.05	6.09	6.36	9.88
Price to Tangible Book Value (P/TBV)	3.10	3.05	3.50	4.51	4.89	5.37	5.15	5.69	8.40	8.67	13.41
Price to Revenue (P/Rev)	1.93	2.00	2.25	2.69	3.06	3.10	2.88	3.17	4.71	4.80	7.15
Price to Earnings (P/E)	43.00	43.44	45.45	76.15	247.66	80.41	86.37	55.00	51.44	47.04	64.45
Dividend Yield	3.76%	3.79%	3.42%	2.88%	2.48%	2.36%	2.45%	2.13%	1.37%	1.28%	0.82%
Earnings Yield	2.33%	2.30%	2.20%	1.31%	0.40%	1.24%	1.16%	1.82%	1.94%	2.13%	1.55%
Enterprise Value to Invested Capital (EV/IC)	1.78	1.78	1.95	2.35	2.59	2.82	2.68	2.93	4.16	4.29	6.36
Enterprise Value to Revenue (EV/Rev)	2.41	2.49	2.76	3.19	3.55	3.55	3.35	3.62	5.18	5.28	7.62
Enterprise Value to EBITDA (EV/EBITDA)	12.47	12.64	13.47	17.17	22.50	19.02	19.20	18.46	22.58	22.31	30.82
Enterprise Value to EBIT (EV/EBIT)	27.44	28.28	29.09	41.96	70.99	42.48	43.84	35.41	36.94	35.10	46.91
Enterprise Value to NOPAT (EV/NOPAT)	46.13	44.29	52.40	67.63	82.43	56.28	47.06	37.78	46.82	42.63	59.93
Enterprise Value to Operating Cash Flow (EV/OCF)	16.41	15.61	15.93	19.24	22.08	23.99	22.82	23.60	34.12	30.60	42.81
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	51.59	34.13	24.87	50.14	24.12	29.88	85.69	229.39	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.64	0.63	0.64	0.67	0.65	0.65	0.65	0.65	0.68	0.69	0.73
Long-Term Debt to Equity	0.61	0.61	0.61	0.63	0.62	0.62	0.62	0.58	0.62	0.62	0.63
Financial Leverage	0.47	0.46	0.49	0.53	0.50	0.49	0.52	0.53	0.53	0.53	0.56
Leverage Ratio	2.45	2.40	2.37	2.47	2.44	2.45	2.42	2.49	2.48	2.51	2.50
Compound Leverage Factor	1.84	-2.34	1.92	1.72	10.68	2.13	1.88	2.20	2.21	2.24	2.16
Debt to Total Capital	39.00%	38.81%	38.93%	40.00%	39.25%	39.45%	39.41%	39.38%	40.64%	40.66%	42.08%
Short-Term Debt to Total Capital	1.54%	1.65%	1.68%	2.06%	1.77%	1.78%	1.54%	4.13%	4.02%	3.88%	5.89%
Long-Term Debt to Total Capital	37.45%	37.16%	37.25%	37.93%	37.47%	37.66%	37.87%	35.25%	36.62%	36.79%	36.20%
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	1.63%	1.63%	1.76%	1.88%	1.93%	2.10%	2.24%	2.25%	2.32%	2.41%	2.52%
Common Equity to Total Capital	59.37%	59.56%	59.31%	58.12%	58.82%	58.45%	58.35%	58.37%	57.04%	56.93%	55.40%
Debt to EBITDA	2.99	3.04	2.90	3.17	3.72	2.95	3.05	2.69	2.40	2.28	2.22
Net Debt to EBITDA	2.34	2.32	2.36	2.55	2.91	2.23	2.48	2.15	1.92	1.87	1.79
Long-Term Debt to EBITDA	2.87	2.91	2.77	3.00	3.55	2.82	2.93	2.41	2.16	2.06	1.91
Debt to NOPAT	11.05	10.65	11.28	12.48	13.63	8.73	7.48	5.50	4.98	4.36	4.32
Net Debt to NOPAT	8.64	8.13	9.19	10.05	10.66	6.59	6.08	4.41	3.98	3.57	3.48
Long-Term Debt to NOPAT	10.61	10.20	10.79	11.83	13.02	8.33	7.19	4.93	4.49	3.94	3.72
Altman Z-Score	2.36	2.28	2.49	2.65	2.73	2.93	2.93	3.03	3.81	3.87	5.18
Noncontrolling Interest Sharing Ratio	2.48%	2.42%	2.59%	2.83%	2.92%	3.06%	3.28%	3.43%	3.55%	3.78%	4.04%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.70	1.67	1.67	1.57	1.66	1.62	1.69	1.50	1.56	1.59	1.61
Quick Ratio	0.79	0.78	0.72	0.69	0.78	0.78	0.75	0.69	0.75	0.76	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-763	-45	543	1,136	561	1,408	899	-271	-811	-2,120	-2,068
Operating Cash Flow to CapEx	211.73%	255.56%	38.10%	215.29%	322.12%	245.28%	72.60%	229.87%	234.73%	243.52%	109.04%
Free Cash Flow to Firm to Interest Expense	-9.31	-0.50	6.54	13.52	6.76	17.82	10.96	-3.27	-10.39	-22.80	-22.48
Operating Cash Flow to Interest Expense	8.80	7.92	1.16	6.20	8.42	7.89	1.84	8.53	10.05	11.31	3.93
Operating Cash Flow Less CapEx to Interest Expense	4.65	4.82	-1.88	3.32	5.81	4.67	-0.70	4.82	5.77	6.67	0.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.43	0.44	0.44	0.45	0.47	0.49	0.51	0.51	0.53	0.56
Accounts Receivable Turnover	7.77	7.65	7.49	7.30	6.80	7.24	7.42	7.07	6.64	6.47	6.91
Inventory Turnover	3.23	3.11	3.04	3.14	3.16	3.28	3.24	3.21	3.25	3.45	3.36
Fixed Asset Turnover	0.89	0.84	0.84	0.87	0.89	0.94	0.99	1.03	1.05	1.11	1.16
Accounts Payable Turnover	5.55	5.29	5.39	5.72	5.70	6.02	5.66	5.46	5.34	5.80	5.21
Days Sales Outstanding (DSO)	46.96	47.74	48.76	50.00	53.70	50.43	49.21	51.63	55.00	56.42	52.79
Days Inventory Outstanding (DIO)	112.86	117.42	120.23	116.29	115.33	111.25	112.51	113.57	112.20	105.78	108.51
Days Payable Outstanding (DPO)	65.77	68.94	67.66	63.82	64.02	60.64	64.45	66.91	68.38	62.93	70.08
Cash Conversion Cycle (CCC)	94.05	96.23	101.33	102.46	105.02	101.04	97.27	98.29	98.82	99.28	91.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,612	17,615	17,562	16,792	17,262	16,513	17,006	17,554	18,576	19,215	19,567
Invested Capital Turnover	0.76	0.72	0.70	0.72	0.72	0.77	0.79	0.83	0.83	0.87	0.89
Increase / (Decrease) in Invested Capital	961	100	-350	-1,004	-350	-1,102	-556	762	1,314	2,702	2,561
Enterprise Value (EV)	31,336	31,302	34,244	39,487	44,794	46,514	45,503	51,480	77,308	82,478	124,410
Market Capitalization	25,154	25,238	27,908	33,280	38,635	40,687	39,213	45,042	70,268	75,070	116,655
Book Value per Share	$13.40	$13.54	$13.11	$12.36	$12.98	$12.48	$12.51	$12.98	$13.47	$13.77	$13.77
Tangible Book Value per Share	$9.52	$9.69	$9.32	$8.62	$9.23	$8.84	$8.89	$9.24	$9.76	$10.10	$10.14
Total Capital	19,251	19,394	18,927	18,211	18,875	18,281	18,365	19,045	20,224	20,741	21,322
Total Debt	7,507	7,526	7,368	7,284	7,408	7,211	7,237	7,500	8,219	8,434	8,973
Total Long-Term Debt	7,210	7,206	7,050	6,908	7,073	6,885	6,954	6,714	7,407	7,630	7,718
Net Debt	5,868	5,747	6,003	5,865	5,795	5,443	5,878	6,009	6,571	6,908	7,218
Capital Expenditures (CapEx)	341	279	252	242	217	254	208	308	334	432	332
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,671	1,434	1,749	1,552	1,761	1,631	2,045	2,016	2,264	2,586	3,110
Debt-free Net Working Capital (DFNWC)	3,310	3,213	3,114	2,971	3,374	3,399	3,404	3,507	3,912	4,112	4,865
Net Working Capital (NWC)	3,013	2,893	2,796	2,595	3,039	3,073	3,121	2,721	3,100	3,308	3,610
Net Nonoperating Expense (NNE)	16	83	-32	9.93	306	-34	158	-9.42	33	-5.19	85
Net Nonoperating Obligations (NNO)	5,868	5,747	6,003	5,865	5,795	5,443	5,878	6,009	6,571	6,908	7,218
Total Depreciation and Amortization (D&A)	340	345	337	337	341	335	319	340	337	351	357
Debt-free, Cash-free Net Working Capital to Revenue	12.85%	11.39%	14.12%	12.52%	13.96%	12.43%	15.04%	14.19%	15.18%	16.55%	19.06%
Debt-free Net Working Capital to Revenue	25.46%	25.52%	25.14%	23.97%	26.75%	25.91%	25.04%	24.69%	26.23%	26.31%	29.81%
Net Working Capital to Revenue	23.18%	22.98%	22.58%	20.94%	24.10%	23.43%	22.96%	19.15%	20.78%	21.17%	22.12%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.19	($0.04)	$0.25	$0.12	($0.14)	$0.36	$0.18	$0.55	$0.50	$0.64	$0.43
Adjusted Weighted Average Basic Shares Outstanding	853.17M	853.47M	856.62M	855.70M	856.21M	856.56M	856.47M	856.62M	857.36M	857.95M	860.64M
Adjusted Diluted Earnings per Share	$0.19	($0.04)	$0.24	$0.12	($0.14)	$0.36	$0.18	$0.54	$0.50	$0.61	$0.43
Adjusted Weighted Average Diluted Shares Outstanding	853.17M	853.47M	856.62M	855.70M	856.21M	856.56M	856.47M	856.62M	857.36M	857.95M	860.64M
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	853.17M	853.47M	856.62M	855.70M	856.21M	856.56M	856.47M	856.62M	857.36M	857.95M	860.64M
Normalized Net Operating Profit after Tax (NOPAT)	198	55	193	132	211	306	343	491	503	582	493
Normalized NOPAT Margin	6.24%	1.82%	6.49%	4.06%	6.23%	8.73%	9.94%	12.70%	12.28%	13.80%	11.89%
Pre Tax Income Margin	6.84%	-1.27%	9.95%	5.29%	-2.71%	12.48%	6.95%	15.12%	13.41%	16.09%	12.77%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.52	0.43	4.42	2.93	-0.25	6.37	3.78	7.98	7.92	8.17	6.65
NOPAT to Interest Expense	2.41	0.61	2.33	1.57	2.55	3.87	4.18	5.91	6.45	6.26	5.36
EBIT Less CapEx to Interest Expense	-0.63	-2.67	1.39	0.05	-2.87	3.15	1.24	4.27	3.64	3.53	3.04
NOPAT Less CapEx to Interest Expense	-1.74	-2.49	-0.71	-1.31	-0.07	0.66	1.65	2.20	2.17	1.61	1.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	150.54%	152.62%	145.60%	197.41%	439.73%	166.55%	178.44%	106.88%	66.42%	57.35%	50.94%
Augmented Payout Ratio	150.54%	152.62%	145.60%	218.36%	500.00%	194.43%	226.45%	127.63%	79.00%	66.70%	54.15%

Financials Breakdown Chart

Key Financial Trends

Here is a concise four-year look at Corning Inc. (NYSE: GLW) using quarterly income statements, balance sheets, and cash flow statements. The focus is on the most recent four years of data to help retail investors gauge trends in revenue, profitability, cash flow, and leverage.

Key takeaways you can watch for in future updates include a rebound in revenue and margin expansion in 2025, alongside rising debt and ongoing capital investments that affect cash flow. The company has shown improved profitability in the latest quarter, but financing and investing activities remain important to monitor for overall liquidity and leverage.

Revenue growth and margin improvement: Q4 2025 revenue rose to $4.215B, up from $3.501B in Q4 2024, with gross margin expanding to about 35.5% in Q4 2025 (versus about 28.4% in Q4 2024).
Profitability improving in the latest quarter: Net income from continuing operations increased to $587M in Q4 2025, up from $340M in Q4 2024.
Stronger operating cash flow: Net cash from continuing operating activities was $1.052B in Q4 2025, higher than the prior quarter’s level and a sign of improved cash generation.
Net income per share signals earnings strength: Net income attributable to common shareholders reached $540M in Q4 2025, up from $310M in Q4 2024 (EPS per share around the mid-$0.60s range, depending on share count).
Dividend policy remains steady: Dividends per share have remained around $0.56 in the recent quarters, providing a predictable income stream for investors.
Shares outstanding relatively stable: Weighted average shares outstanding stayed roughly flat around 857 million across recent quarters, indicating minimal dilution.
Cost discipline persists: R&D and SG&A expenses as a percentage of revenue have remained in the mid-single-digit range, suggesting ongoing cost management even as revenue grows.
Financing cash flows negative: Net cash from financing activities has been negative in multiple quarters (for example, -$324M in Q3 2025 and -$652M in Q4 2025), highlighting ongoing debt and capital structure activity.
Leverage rising: Long-term debt climbed from about $6.71B mid-2025 to roughly $7.41B by Q3 2025, indicating higher leverage that warrants watching.
Investing cash outflows continue: Net cash from investing activities remained negative (e.g., -$478M in Q4 2025) due to capex and investments, which can pressure overall free cash flow despite solid operating cash flow.

05/15/26 04:08 AM ETAI Generated. May Contain Errors.

Corning Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Corning's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Corning's net income appears to be on a downward trend, with a most recent value of $1.74 billion in 2025, rising from $1.34 billion in 2015. The previous period was $592 million in 2024. Check out Corning's forecast to explore projected trends and price targets.

Corning's total operating income in 2025 was $2.28 billion, based on the following breakdown:

Total Gross Profit: $5.62 billion
Total Operating Expenses: $3.34 billion

Over the last 10 years, Corning's total revenue changed from $9.11 billion in 2015 to $15.63 billion in 2025, a change of 71.5%.

Corning's total liabilities were at $18.67 billion at the end of 2025, a 12.0% increase from 2024, and a 93.2% increase since 2015.

In the past 10 years, Corning's cash and equivalents has ranged from $1.53 billion in 2025 to $5.29 billion in 2016, and is currently $1.53 billion as of their latest financial filing in 2025.

Over the last 10 years, Corning's book value per share changed from 13.94 in 2015 to 13.77 in 2025, a change of -1.2%.

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Financial statements for NYSE:GLW last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Corning (GLW) Financials

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Corning (GLW) Financials

Annual Income Statements for Corning

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Quarterly Cash Flow Statements for Corning

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Quarterly Balance Sheets for Corning

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Quarterly Metrics And Ratios for Corning

Financials Breakdown Chart

Key Financial Trends

Corning Financials - Frequently Asked Questions

When does Corning's financial year end?

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

What is Corning's operating income?

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

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

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