GLW
Corning Incorporated
GLW's fundamentals are strong: revenue grew 19% and its operating margin rose 3 points to 16%. At 49x earnings, it's trading right at its usual valuation. Analysts expect that strong growth to continue.
GLW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
GLW's revenue, profitability, cash flow and balance sheet are all currently healthy.
GLW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $59.79 | -50% |
| Forward | 29x | $120 | — |
| Fair | 48x | $119 | -0.6% |
| Current | 49x | $120 | — |
| Expensive | 91x | $223 | +87% |
Historical ranges are pointers, not guarantees.
GLW's PE is in its fair range at 49x. If earnings grow as analysts expect, today's price would be 29x next year's earnings, in its cheap range.
GLW Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for GLW, with profitability improving.
GLW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.18 | +70% |
| Q3 2026 | $2.46 | +56% |
| Q2 2026 | $2.18 | +132% |
| Q1 2026 | $2.08 | +300% |
| Q4 2025 | $1.83 | +216% |
| Q3 2025 | $1.58 | +778% |
| Q2 2025 | $0.94 | +84% |
| Q1 2025 | $0.52 | -28% |
| Q4 2024 | $0.58 | -15% |
GLW earned $2.46 per share over the past year, up 56% from the year before.
GLW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.9B | +18% |
| Q2 2026 | $4.5B | +17% |
| Q1 2026 | $4.1B | +20% |
| Q4 2025 | $4.2B | +20% |
| Q3 2025 | $4.1B | +21% |
| Q2 2025 | $3.9B | +19% |
| Q1 2025 | $3.5B | +16% |
| Q4 2024 | $3.5B | +17% |
GLW's revenue has grown year over year for 10 quarters in a row: $4.9B last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +4.4 points |
| Q2 2026 | 15% | +0.7 points |
| Q1 2026 | 15% | +2.5 points |
| Q4 2025 | 16% | +4.7 points |
| Q3 2025 | 14% | +5.5 points |
| Q2 2025 | 15% | +9.1 points |
| Q1 2025 | 13% | +4.4 points |
| Q4 2024 | 11% | +8.6 points |
GLW's operating margin was 19% last quarter, up 4.4 points from the same quarter a year ago, near the top of its range since 2019.
GLW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $516M | +15% |
| Q2 2026 | $1.3B | +224% |
| Q1 2026 | $30M | +$87M |
| Q4 2025 | $620M | +68% |
| Q3 2025 | $450M | -6.6% |
| Q2 2025 | $400M | +43% |
| Q1 2025 | -$57M | +$99M |
| Q4 2024 | $369M | -15% |
GLW generated $2.5B in free cash flow over the past year, up 112% from the year before.
GLW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -4M shares |
| 1 year | +0.3% | +3M shares |
| 3 years | +1.4% | +12M shares |
| 5 years | +0.6% | +5M shares |
| Available history | -3.1% | -28M shares |
GLW has 871M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $5M |
| Q3 2025 | $25M |
| Q2 2025 | $33M |
| Q1 2025 | $100M |
| Q4 2024 | $30M |
| Q3 2024 | $30M |
| Q4 2022 | — |
| Q3 2022 | $20M |
GLW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.9x | Healthy |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 2.0x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.2x | Moderate |
| Q4 2024 | 2.2x | Moderate |
GLW's net debt is about 1.3 years of its operating earnings (EBITDA), down from 2.0 years a year ago.
GLW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.1 | Neutral |
| Stochastic | 14.4 | Oversold |
GLW's weekly RSI is 41 (neutral) and its Stochastic is 14 (oversold).
GLW PE vs Technology Sector
| Metric | GLW | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 28x | 74% above |
| PE % | 50 | 35 | 15 pts above |
GLW is trading at 49x earnings, a 74% premium to the Technology sector's median of 28x.
GLW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $135.3 | 12% below |
| 20 week MA | $150.5 | 21% below |
| 50 week MA | $144.7 | 17% below |
| 100 week MA | $101.8 | 17% above |
| 200 week MA | $68.7 | 74% above |
GLW has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 74% above its 200-week average.
GLW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.8 | $36.3 | +26% |
| 2021 | $36.3 | $36.8 | +1.3% |
| 2022 | $36.8 | $31.8 | -14% |
| 2023 | $31.8 | $30.5 | -4.1% |
| 2024 | $30.5 | $47.8 | +57% |
| 2025 | $47.8 | $89.6 | +87% |
| 2026 YTD | $89.6 | $119.5 | +33% |
GLW has finished higher in four of the last six years, two of them by more than 50%. It's up 33% so far in 2026.