Stock Analysis on Net
Stock Analysis on Net

Corning Inc. (NYSE:GLW)

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Analysis of Investments

Microsoft Excel

Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

Corning Inc., adjustment to net income attributable to Corning Incorporated

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income attributable to Corning Incorporated (as reported) 581 1,316 1,906 512 960
Add: Net unrealized gains (losses) on investments — — — — 1
Net income attributable to Corning Incorporated (adjusted) 581 1,316 1,906 512 961

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

Corning Inc., adjusted profitability ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net Profit Margin
Reported net profit margin 4.62% 9.27% 13.54% 4.53% 8.35%
Adjusted net profit margin 4.62% 9.27% 13.54% 4.53% 8.35%
Return on Equity (ROE)
Reported ROE 5.03% 10.96% 15.45% 3.86% 7.44%
Adjusted ROE 5.03% 10.96% 15.45% 3.86% 7.45%
Return on Assets (ROA)
Reported ROA 2.04% 4.46% 6.32% 1.66% 3.32%
Adjusted ROA 2.04% 4.46% 6.32% 1.66% 3.33%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Corning Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Corning Inc. adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Corning Inc. adjusted ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Corning Inc., Profitability Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Corning Incorporated 581 1,316 1,906 512 960
Net sales 12,588 14,189 14,082 11,303 11,503
Profitability Ratio
Net profit margin1 4.62% 9.27% 13.54% 4.53% 8.35%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Corning Incorporated 581 1,316 1,906 512 961
Net sales 12,588 14,189 14,082 11,303 11,503
Profitability Ratio
Adjusted net profit margin2 4.62% 9.27% 13.54% 4.53% 8.35%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Net profit margin = 100 × Net income attributable to Corning Incorporated ÷ Net sales
= 100 × 581 ÷ 12,588 = 4.62%

2 Adjusted net profit margin = 100 × Adjusted net income attributable to Corning Incorporated ÷ Net sales
= 100 × 581 ÷ 12,588 = 4.62%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Corning Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Corning Incorporated 581 1,316 1,906 512 960
Total Corning Incorporated shareholders’ equity 11,551 12,008 12,333 13,257 12,907
Profitability Ratio
ROE1 5.03% 10.96% 15.45% 3.86% 7.44%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Corning Incorporated 581 1,316 1,906 512 961
Total Corning Incorporated shareholders’ equity 11,551 12,008 12,333 13,257 12,907
Profitability Ratio
Adjusted ROE2 5.03% 10.96% 15.45% 3.86% 7.45%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 ROE = 100 × Net income attributable to Corning Incorporated ÷ Total Corning Incorporated shareholders’ equity
= 100 × 581 ÷ 11,551 = 5.03%

2 Adjusted ROE = 100 × Adjusted net income attributable to Corning Incorporated ÷ Total Corning Incorporated shareholders’ equity
= 100 × 581 ÷ 11,551 = 5.03%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Corning Inc. adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Corning Incorporated 581 1,316 1,906 512 960
Total assets 28,500 29,499 30,154 30,775 28,898
Profitability Ratio
ROA1 2.04% 4.46% 6.32% 1.66% 3.32%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Corning Incorporated 581 1,316 1,906 512 961
Total assets 28,500 29,499 30,154 30,775 28,898
Profitability Ratio
Adjusted ROA2 2.04% 4.46% 6.32% 1.66% 3.33%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 ROA = 100 × Net income attributable to Corning Incorporated ÷ Total assets
= 100 × 581 ÷ 28,500 = 2.04%

2 Adjusted ROA = 100 × Adjusted net income attributable to Corning Incorporated ÷ Total assets
= 100 × 581 ÷ 28,500 = 2.04%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Corning Inc. adjusted ROA deteriorated from 2021 to 2022 and from 2022 to 2023.