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.

Enterprise Value to EBITDA (EV/EBITDA) 

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Corning Inc., EBITDA calculation

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 581 1,316 1,906 512 960
Add: Net income attributable to noncontrolling interest 67 70 29 11 19
Add: Income tax expense 168 411 491 111 256
Earnings before tax (EBT) 816 1,797 2,426 634 1,235
Add: Interest expense 329 292 300 276 221
Earnings before interest and tax (EBIT) 1,145 2,089 2,726 910 1,456
Add: Depreciation 1,247 1,329 1,352 1,399 1,390
Add: Amortization of purchased intangibles 122 123 129 121 113
Earnings before interest, tax, depreciation and amortization (EBITDA) 2,514 3,541 4,207 2,430 2,959

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Corning Inc. EBITDA decreased from 2021 to 2022 and from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

Corning Inc., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 34,821
Earnings before interest, tax, depreciation and amortization (EBITDA) 2,514
Valuation Ratio
EV/EBITDA 13.85
Benchmarks
EV/EBITDA, Competitors1
Apple Inc. 25.97
Arista Networks Inc. 46.22
Cisco Systems Inc. 15.38
Super Micro Computer Inc. 18.79
EV/EBITDA, Sector
Technology Hardware & Equipment 25.70
EV/EBITDA, Industry
Information Technology 36.30

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Corning Inc., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 33,529 35,704 40,033 36,128 29,055
Earnings before interest, tax, depreciation and amortization (EBITDA)2 2,514 3,541 4,207 2,430 2,959
Valuation Ratio
EV/EBITDA3 13.34 10.08 9.52 14.87 9.82
Benchmarks
EV/EBITDA, Competitors4
Apple Inc. 21.66 19.15 20.47 23.12 13.59
Arista Networks Inc. 31.29 24.52 37.28 26.95 16.05
Cisco Systems Inc. 12.16 10.52 15.05 9.69 11.36
Super Micro Computer Inc. 16.77 10.50 11.19 10.65 7.75
EV/EBITDA, Sector
Technology Hardware & Equipment 20.69 18.24 19.98 20.90 13.22
EV/EBITDA, Industry
Information Technology 23.65 18.58 20.64 19.71 14.59

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).

1 See details »

2 See details »

3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 33,529 ÷ 2,514 = 13.34

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Corning Inc. EV/EBITDA ratio increased from 2021 to 2022 and from 2022 to 2023.