Corning Incorporated (GLW) Financial Ratios
30 years of historical data (1996–2025) · Technology · Hardware, Equipment & Parts
EV/EBITDA
↑
47.91
↑+205% vs avg
5yr avg: 15.69
30Y Low6.7·High42.7
P/FCF
↑
118.55
↑+224% vs avg
5yr avg: 36.60
30Y Low9.0·High143.2
P/B Ratio
↑
13.63
↑+306% vs avg
5yr avg: 3.36
30Y Low0.7·High14.9
ROE
↓
13.7%
↓+42% vs avg
5yr avg: 9.6%
30Y Low-67%·High46%
Debt/EBITDA
↑
2.78
↓-5% vs avg
5yr avg: 2.93
30Y Low0.7·High4.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GLW Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Corning Incorporated trades at 105.4x earnings, 135% above its 5-year average of 44.8x, sitting at the 92nd percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 263%. On a free-cash-flow basis, the stock trades at 118.5x P/FCF, 224% above the 5-year average of 36.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $167.5B | $75.3B | $41.3B | $26.2B | $27.4B | $31.4B | $27.8B | $26.2B | $28.4B | $28.6B | $27.8B |
| Enterprise Value | $176.2B | $84.0B | $47.6B | $32.9B | $33.5B | $37.1B | $33.8B | $32.0B | $32.1B | $29.4B | $26.4B |
| P/E Ratio → | 105.41 | 47.33 | 81.93 | 44.78 | 20.74 | 29.09 | 66.67 | 27.21 | 26.73 | — | 7.51 |
| P/S Ratio | 10.72 | 4.82 | 3.15 | 2.08 | 1.93 | 2.23 | 2.46 | 2.28 | 2.52 | 2.83 | 2.96 |
| P/B Ratio | 13.63 | 6.12 | 3.73 | 2.20 | 2.23 | 2.50 | 2.07 | 2.01 | 2.05 | 1.81 | 1.55 |
| P/FCF | 118.55 | 53.29 | 42.40 | 42.53 | 27.07 | 17.70 | 34.61 | 594.77 | 41.99 | 143.16 | 19.96 |
| P/OCF | 62.16 | 27.94 | 21.30 | 13.05 | 10.47 | 9.21 | 12.75 | 12.89 | 9.74 | 14.29 | 11.11 |
P/E links to full P/E history page with 30-year chart
GLW EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Corning Incorporated's enterprise value stands at 47.9x EBITDA, 205% above its 5-year average of 15.7x. The Technology sector median is 16.7x, placing the stock at a 186% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.37 | 3.63 | 2.61 | 2.36 | 2.63 | 2.99 | 2.78 | 2.84 | 2.91 | 2.81 |
| EV / EBITDA | 47.91 | 22.84 | 19.16 | 14.55 | 11.60 | 10.33 | 16.67 | 11.39 | 11.18 | 10.56 | 10.07 |
| EV / EBIT | 75.59 | 35.18 | 41.70 | 28.70 | 16.05 | 13.61 | 37.62 | 22.26 | 18.93 | 16.25 | 6.85 |
| EV / FCF | — | 59.45 | 48.89 | 53.43 | 33.15 | 20.90 | 42.12 | 727.00 | 47.37 | 147.21 | 18.96 |
GLW Profitability
Margins and return-on-capital ratios measuring operating efficiency
Corning Incorporated earns an operating margin of 14.9%. Operating margins have expanded from 7.1% to 14.9% over the past 3 years, signaling improving operational efficiency. ROE of 13.7% is modest. ROIC of 9.1% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.3% | 35.3% | 32.6% | 31.2% | 31.8% | 36.0% | 31.2% | 35.1% | 39.5% | 39.7% | 40.1% |
| Operating Margin | 14.9% | 14.9% | 8.7% | 7.1% | 10.1% | 15.0% | 4.5% | 11.4% | 14.0% | 16.1% | 15.2% |
| Net Profit Margin | 10.2% | 10.2% | 3.9% | 4.6% | 9.3% | 13.5% | 4.5% | 8.3% | 9.4% | -4.9% | 39.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.7% | 13.7% | 4.4% | 4.8% | 10.6% | 14.7% | 3.9% | 7.1% | 7.2% | -2.9% | 20.1% |
| ROA | 5.4% | 5.4% | 1.8% | 2.0% | 4.4% | 6.3% | 1.7% | 3.4% | 3.9% | -1.8% | 13.1% |
| ROIC | 9.1% | 9.1% | 4.7% | 3.6% | 5.9% | 8.4% | 2.0% | 5.4% | 6.9% | 7.4% | 6.0% |
| ROCE | 9.7% | 9.7% | 4.8% | 3.7% | 5.8% | 8.1% | 1.9% | 5.3% | 6.5% | 6.6% | 5.6% |
GLW Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Corning Incorporated carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (6% below the sector average of 2.9x). Net debt stands at $8.7B ($10.2B total debt minus $1.5B cash). Interest coverage of 7.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.83 | 0.83 | 0.73 | 0.71 | 0.64 | 0.62 | 0.65 | 0.63 | 0.43 | 0.32 | 0.22 |
| Debt / EBITDA | 2.78 | 2.78 | 3.26 | 3.76 | 2.70 | 2.18 | 4.29 | 2.94 | 2.09 | 1.84 | 1.49 |
| Net Debt / Equity | — | 0.71 | 0.57 | 0.56 | 0.50 | 0.45 | 0.45 | 0.45 | 0.26 | 0.05 | -0.08 |
| Net Debt / EBITDA | 2.36 | 2.36 | 2.54 | 2.97 | 2.13 | 1.58 | 2.97 | 2.07 | 1.27 | 0.29 | -0.53 |
| Debt / FCF | — | 6.15 | 6.49 | 10.90 | 6.08 | 3.20 | 7.51 | 132.23 | 5.38 | 4.05 | -1.00 |
| Interest Coverage | 7.11 | 7.11 | 3.47 | 3.48 | 7.15 | 9.09 | 3.26 | 6.50 | 8.87 | 11.69 | 24.22 |
GLW Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.59x means Corning Incorporated can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.04x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.67x to 1.59x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.59 | 1.59 | 1.62 | 1.67 | 1.44 | 1.59 | 2.12 | 2.12 | 2.12 | 2.75 | 3.29 |
| Quick Ratio | 1.04 | 1.04 | 1.07 | 1.05 | 0.88 | 1.08 | 1.48 | 1.46 | 1.51 | 2.22 | 2.75 |
| Cash Ratio | 0.27 | 0.27 | 0.36 | 0.41 | 0.32 | 0.45 | 0.71 | 0.69 | 0.71 | 1.35 | 1.92 |
| Asset Turnover | — | 0.50 | 0.47 | 0.44 | 0.48 | 0.47 | 0.37 | 0.40 | 0.41 | 0.37 | 0.34 |
| Inventory Turnover | 3.29 | 3.29 | 3.25 | 3.25 | 3.33 | 3.64 | 3.19 | 3.22 | 3.35 | 3.56 | 3.83 |
| Days Sales Outstanding | — | 64.90 | 57.12 | 45.58 | 44.27 | 51.94 | 68.88 | 58.26 | 62.72 | 65.20 | 57.57 |
GLW Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Corning Incorporated returns 0.7% to shareholders annually — split between a 0.6% dividend yield and 0.1% buyback yield. A payout ratio of 62.6% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 0.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 1.3% | 2.4% | 3.8% | 3.4% | 2.8% | 2.8% | 2.8% | 2.4% | 2.3% | 2.3% |
| Payout Ratio | 62.6% | 62.6% | 194.9% | 170.2% | 70.8% | 45.7% | 153.7% | 77.3% | 64.3% | — | 17.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.9% | 2.1% | 1.2% | 2.2% | 4.8% | 3.4% | 1.5% | 3.7% | 3.7% | — | 13.3% |
| FCF Yield | 0.8% | 1.9% | 2.4% | 2.4% | 3.7% | 5.6% | 2.9% | 0.2% | 2.4% | 0.7% | 5.0% |
| Buyback Yield | 0.1% | 0.2% | 0.6% | 0.4% | 1.0% | 1.1% | 0.4% | 3.7% | 7.8% | 8.6% | 15.3% |
| Total Shareholder Yield | 0.7% | 1.5% | 3.0% | 4.2% | 4.4% | 3.8% | 3.2% | 6.5% | 10.2% | 10.8% | 17.6% |
| Shares Outstanding | — | $860M | $869M | $859M | $857M | $844M | $772M | $899M | $941M | $895M | $1.1B |
Peer Comparison
Compare GLW with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GLWYou | $168B | 105.4 | 47.9 | 118.5 | 35.3% | 14.9% | 13.7% | 9.1% | 2.8 |
 APH | $202B | 49.1 | 29.9 | 46.0 | 36.9% | 25.9% | 36.6% | 28.3% | 2.2 |
 TEL | $64B | 35.3 | 17.1 | 19.9 | 34.6% | 18.8% | 14.6% | 14.1% | 1.6 |
 EMR | $84B | 37.3 | 19.1 | 31.6 | 52.8% | 19.6% | 9.6% | 8.2% | 2.7 |
 ROG | $3B | -48.4 | 26.1 | 40.8 | 31.7% | 6.4% | -5.1% | 3.6% | 0.4 |
 CEVA | $1B | -113.0 | — | 2684.4 | 87.1% | -10.4% | -3.5% | -2.9% | — |
 VIAV | $11B | 314.5 | 83.7 | 176.0 | 56.8% | 6.5% | 4.8% | 5.5% | 5.2 |
 COHR | $62B | -749.2 | 58.7 | 320.5 | 35.4% | 9.4% | 0.6% | 3.6% | 3.5 |
 LITE | $61B | 2297.3 | 819.5 | — | 28.0% | -10.9% | 2.5% | -4.3% | 34.0 |
 OI | $1B | -11.0 | 5.0 | 8.4 | 17.3% | 9.9% | -9.7% | 8.4% | 4.5 |
 AMCR | $19B | 25.7 | 19.2 | 23.4 | 18.9% | 6.7% | 6.5% | 4.1% | 8.7 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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GLW — Frequently Asked Questions
Quick answers to the most common questions about buying GLW stock.
What is Corning Incorporated's P/E ratio?
Corning Incorporated's current P/E ratio is 105.4x. The historical average is 41.2x. This places it at the 92th percentile of its historical range.
What is Corning Incorporated's EV/EBITDA?
Corning Incorporated's current EV/EBITDA is 47.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.8x.
What is Corning Incorporated's ROE?
Corning Incorporated's return on equity (ROE) is 13.7%. The historical average is 7.2%.
Is GLW stock overvalued?
Based on historical data, Corning Incorporated is trading at a P/E of 105.4x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Corning Incorporated's dividend yield?
Corning Incorporated's current dividend yield is 0.60% with a payout ratio of 62.6%.
What are Corning Incorporated's profit margins?
Corning Incorporated has 35.3% gross margin and 14.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Corning Incorporated have?
Corning Incorporated's Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.