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.

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

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Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Historical Valuation Ratios (Summary)

Corning Inc., historical price multiples (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Price to earnings (P/E) 46.84 47.27 38.88 45.85 31.00 22.95 14.77 15.52 27.39 32.37 37.06 40.66 33.94 68.45 127.07 230.16 58.91 24.78 — — —
Price to operating profit (P/OP) 33.95 30.86 25.33 30.23 24.24 21.00 14.80 14.83 13.63 16.54 14.42 19.12 33.25 55.67 136.25 82.31 20.56 16.35 — — —
Price to sales (P/S) 2.32 2.18 1.75 2.17 2.06 2.13 1.88 2.13 2.05 2.48 2.21 2.63 3.08 2.51 2.28 2.21 1.42 1.86 — — —
Price to book value (P/BV) 2.56 2.38 1.99 2.53 2.37 2.51 2.41 2.65 2.40 2.83 2.50 2.89 2.82 2.14 1.94 1.97 1.29 1.65 1.79 1.79 1.84

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Corning Inc. P/E ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Corning Inc. P/OP ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Corning Inc. P/S ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Corning Inc. P/BV ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Price to Earnings (P/E)

Corning Inc., historical P/E calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 856,619,222 853,474,317 853,174,879 852,981,921 850,130,495 846,563,422 845,811,376 845,318,144 844,612,498 845,849,498 853,408,459 854,032,129 851,356,832 768,367,889 764,010,029 761,776,310 760,947,974 763,628,266 769,109,777 780,866,098 784,754,231
Selected Financial Data (US$)
Net income (loss) available to common shareholders (in millions) 209 (40) 164 281 176 (36) 208 563 581 487 371 (354) 575 227 403 (96) (120) 6 313 68 475
Earnings per share (EPS)2 0.72 0.68 0.69 0.74 1.07 1.55 2.17 2.37 1.28 1.28 0.96 1.00 1.30 0.54 0.25 0.14 0.35 1.13 0.00 0.00 0.00
Share price1, 3 33.57 32.18 26.66 33.81 33.22 35.67 32.11 36.76 35.19 41.29 35.57 40.52 44.21 36.88 32.10 31.12 20.67 27.97 30.39 30.75 31.99
Valuation Ratio
P/E ratio4 46.84 47.27 38.88 45.85 31.00 22.95 14.77 15.52 27.39 32.37 37.06 40.66 33.94 68.45 127.07 230.16 58.91 24.78 — — —
Benchmarks
P/E Ratio, Competitors5
Apple Inc. 28.44 28.33 30.03 28.94 25.69 24.82 26.21 25.03 27.64 25.96 27.61 29.19 36.00 32.24 31.11 21.90 24.67 20.00 17.29 16.94 13.11
Arista Networks Inc. 39.94 39.77 32.79 33.61 27.44 32.05 33.51 34.44 37.69 47.56 48.17 39.92 36.92 37.41 26.50 23.74 19.75 19.88 — — —
Cisco Systems Inc. 14.30 18.26 17.20 18.01 17.28 15.78 15.18 19.78 20.46 23.34 21.99 19.39 16.91 15.46 17.64 17.87 17.54 17.69 — — —
Super Micro Computer Inc. 22.19 21.09 12.27 7.82 9.13 12.71 14.49 15.76 21.49 16.16 19.93 18.25 17.13 17.04 14.87 16.73 15.64 15.77 — — —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
EPS = (Net income (loss) available to common shareholdersQ1 2024 + Net income (loss) available to common shareholdersQ4 2023 + Net income (loss) available to common shareholdersQ3 2023 + Net income (loss) available to common shareholdersQ2 2023) ÷ No. shares of common stock outstanding
= (209,000,000 + -40,000,000 + 164,000,000 + 281,000,000) ÷ 856,619,222 = 0.72

3 Closing price as at the filing date of Corning Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/E ratio = Share price ÷ EPS
= 33.57 ÷ 0.72 = 46.84

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Corning Inc. P/E ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024.

Price to Operating Profit (P/OP)

Corning Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 856,619,222 853,474,317 853,174,879 852,981,921 850,130,495 846,563,422 845,811,376 845,318,144 844,612,498 845,849,498 853,408,459 854,032,129 851,356,832 768,367,889 764,010,029 761,776,310 760,947,974 763,628,266 769,109,777 780,866,098 784,754,231
Selected Financial Data (US$)
Operating income (loss) (in millions) 254 78 236 279 297 86 292 490 570 483 552 575 502 476 257 (103) (121) 147 365 374 420
Operating profit per share2 0.99 1.04 1.05 1.12 1.37 1.70 2.17 2.48 2.58 2.50 2.47 2.12 1.33 0.66 0.24 0.38 1.01 1.71 0.00 0.00 0.00
Share price1, 3 33.57 32.18 26.66 33.81 33.22 35.67 32.11 36.76 35.19 41.29 35.57 40.52 44.21 36.88 32.10 31.12 20.67 27.97 30.39 30.75 31.99
Valuation Ratio
P/OP ratio4 33.95 30.86 25.33 30.23 24.24 21.00 14.80 14.83 13.63 16.54 14.42 19.12 33.25 55.67 136.25 82.31 20.56 16.35 — — —
Benchmarks
P/OP Ratio, Competitors5
Apple Inc. 24.19 24.04 25.35 24.31 21.45 20.74 22.07 21.37 23.78 22.56 23.98 25.06 31.00 27.92 27.07 19.10 21.45 17.29 14.94 14.79 11.46
Arista Networks Inc. 37.57 36.77 29.88 30.23 24.00 28.38 29.48 31.27 35.28 43.25 44.27 35.97 33.03 33.92 27.72 24.78 20.69 21.21 — — —
Cisco Systems Inc. 12.32 15.32 13.88 14.67 14.12 13.35 12.91 16.75 17.02 19.26 17.97 15.77 14.03 12.73 13.53 13.95 13.79 14.46 — — —
Super Micro Computer Inc. 19.05 17.74 10.30 6.55 7.71 10.82 12.72 14.45 19.40 14.58 19.27 17.42 17.40 16.77 12.52 13.62 12.15 11.67 — — —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Operating profit per share = (Operating income (loss)Q1 2024 + Operating income (loss)Q4 2023 + Operating income (loss)Q3 2023 + Operating income (loss)Q2 2023) ÷ No. shares of common stock outstanding
= (254,000,000 + 78,000,000 + 236,000,000 + 279,000,000) ÷ 856,619,222 = 0.99

3 Closing price as at the filing date of Corning Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 33.57 ÷ 0.99 = 33.95

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Corning Inc. P/OP ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Price to Sales (P/S)

Corning Inc., historical P/S calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 856,619,222 853,474,317 853,174,879 852,981,921 850,130,495 846,563,422 845,811,376 845,318,144 844,612,498 845,849,498 853,408,459 854,032,129 851,356,832 768,367,889 764,010,029 761,776,310 760,947,974 763,628,266 769,109,777 780,866,098 784,754,231
Selected Financial Data (US$)
Net sales (in millions) 2,975 2,994 3,173 3,243 3,178 3,406 3,488 3,615 3,680 3,676 3,615 3,501 3,290 3,350 3,001 2,561 2,391 2,817 2,934 2,940 2,812
Sales per share2 14.46 14.75 15.24 15.61 16.10 16.76 17.09 17.26 17.13 16.65 16.12 15.39 14.33 14.71 14.10 14.05 14.56 15.06 0.00 0.00 0.00
Share price1, 3 33.57 32.18 26.66 33.81 33.22 35.67 32.11 36.76 35.19 41.29 35.57 40.52 44.21 36.88 32.10 31.12 20.67 27.97 30.39 30.75 31.99
Valuation Ratio
P/S ratio4 2.32 2.18 1.75 2.17 2.06 2.13 1.88 2.13 2.05 2.48 2.21 2.63 3.08 2.51 2.28 2.21 1.42 1.86 — — —
Benchmarks
P/S Ratio, Competitors5
Apple Inc. 7.44 7.17 7.41 7.09 6.31 6.28 6.74 6.61 7.35 6.72 6.90 6.85 7.82 6.74 6.64 4.68 5.30 4.25 3.72 3.75 2.98
Arista Networks Inc. 15.03 14.16 11.14 10.92 8.57 9.89 9.93 10.18 11.13 13.57 13.63 11.07 10.15 10.24 8.50 7.87 6.73 7.09 — — —
Cisco Systems Inc. 3.35 4.04 3.59 3.83 3.80 3.62 3.53 4.54 4.59 4.96 4.60 4.09 3.68 3.52 3.76 3.83 3.71 3.96 — — —
Super Micro Computer Inc. 1.84 1.90 1.10 0.68 0.67 0.70 0.57 0.47 0.62 0.51 0.54 0.50 0.44 0.43 0.40 0.43 0.37 0.32 — — —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Sales per share = (Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023 + Net salesQ2 2023) ÷ No. shares of common stock outstanding
= (2,975,000,000 + 2,994,000,000 + 3,173,000,000 + 3,243,000,000) ÷ 856,619,222 = 14.46

3 Closing price as at the filing date of Corning Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 33.57 ÷ 14.46 = 2.32

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Corning Inc. P/S ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Price to Book Value (P/BV)

Corning Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 856,619,222 853,474,317 853,174,879 852,981,921 850,130,495 846,563,422 845,811,376 845,318,144 844,612,498 845,849,498 853,408,459 854,032,129 851,356,832 768,367,889 764,010,029 761,776,310 760,947,974 763,628,266 769,109,777 780,866,098 784,754,231
Selected Financial Data (US$)
Total Corning Incorporated shareholders’ equity (in millions) 11,226 11,551 11,430 11,412 11,925 12,008 11,284 11,734 12,395 12,333 12,145 11,960 13,369 13,257 12,660 12,049 12,198 12,907 13,034 13,425 13,607
Book value per share (BVPS)2 13.11 13.53 13.40 13.38 14.03 14.18 13.34 13.88 14.68 14.58 14.23 14.00 15.70 17.25 16.57 15.82 16.03 16.90 16.95 17.19 17.34
Share price1, 3 33.57 32.18 26.66 33.81 33.22 35.67 32.11 36.76 35.19 41.29 35.57 40.52 44.21 36.88 32.10 31.12 20.67 27.97 30.39 30.75 31.99
Valuation Ratio
P/BV ratio4 2.56 2.38 1.99 2.53 2.37 2.51 2.41 2.65 2.40 2.83 2.50 2.89 2.82 2.14 1.94 1.97 1.29 1.65 1.79 1.79 1.84
Benchmarks
P/BV Ratio, Competitors5
Apple Inc. 38.73 44.21 47.21 43.92 43.09 48.89 44.95 37.86 38.64 38.96 37.28 32.20 34.75 28.33 25.14 15.98 15.85 12.21 9.98 9.15 6.61
Arista Networks Inc. 11.62 11.50 9.58 9.81 7.81 8.87 8.90 8.90 8.46 10.05 9.78 7.87 7.24 7.15 6.12 5.89 5.53 5.90 5.33 7.41 8.72
Cisco Systems Inc. 4.30 5.19 4.66 4.91 4.94 4.69 4.51 5.92 5.46 5.99 5.59 5.02 4.64 4.57 5.33 5.56 5.60 6.12 6.57 5.36 4.56
Super Micro Computer Inc. 6.28 6.85 4.07 2.49 2.50 2.54 2.09 1.66 2.10 1.65 1.72 1.52 1.35 1.35 1.28 1.41 1.27 1.21 1.24 1.26 1.30

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
BVPS = Total Corning Incorporated shareholders’ equity ÷ No. shares of common stock outstanding
= 11,226,000,000 ÷ 856,619,222 = 13.11

3 Closing price as at the filing date of Corning Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 33.57 ÷ 13.11 = 2.56

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Corning Inc. P/BV ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.