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GLWCorning Inc.

Technology · Wire & Cable · NYSE
GLW quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 19.1%

XBRL, from each 10-K
RevenueStatements ↓
$15.6B
from $13.1B in FY2024
FY2016FY2025
Net incomeStatements ↓
$1.6B
from $506.0M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$1.83
from $0.58 in FY2024
FY2016FY2025
Operating marginStatements ↓
14.6%
from 8.7% in FY2024
FY2016FY2025
Total debtStatements ↓
$8.4B
from $7.2B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (40, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)2.47Sales (ttm)17.7BNet income (ttm)2.1BSales growth+19.1%EPS growth+216%Sales Q/Q+18.4%
Free cash flow-Gross margin36.5%Oper. margin16.5%Net margin12.1%FCF margin-ROE15.7%
ROA6.3%R&D / sales5.1%Dividend1.12Debt/Eq0.60Curr. ratio1.72Cash2.5B
Op. cash flow (ttm)4.2BEBITDA3.5BEBITDA margin22.5%Net debt5.7BQuick ratio1.26Interest cover6.78
ROIC8.8%Payout ratio61.2%Tax rate15.1%Stock pay / sales1.8%Shares out.861.4MShares Y/Y+0.2%
Book / share15.87Cash / share2.95Sales / share20.57Asset turnover0.52Inventory turns3.25Days sales out.65
Sales 3Y CAGR+3.3%Sales 5Y CAGR+6.7%EPS 3Y CAGR+5.9%EPS 5Y CAGR+27.7%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth sped up to +19.1%+4.2% → +19.1% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Operating margin widened to 14.6%8.7% → 14.6% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

GLW against Technology peers

Ten years, side by side → · All 75 →
GrowthProfitBalanceCleanInsiders
GLWPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 75 companies, the better end on the right. Hover a dot for the company.

Sales growth
+19.1%26th of 75 · median +14.1%
Net margin
12.1%51st of 75 · median 19.1%
Return on equity
15.7%47th of 69 · median 23.9%
Debt / equity (less is better)
0.6040th of 61 · median 0.46
GLW and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
GLW Corning Inc.$17.7B +19.1%36.5%12.1%15.7%-0.60
TXN Texas Instruments$20.8B +13.0%60.2%34.3%37.1%35.2%0.71
TEL TE Connectivity$19.9B +15.2%36.2%16.4%24.0%17.1%0.42
NOW ServiceNow$15.4B +20.9%73.1%9.4%11.0%30.8%0.58
KLAC KLA Corporation$14.5B +11.7%61.5%36.2%80.6%27.8%0.88
WDC Western Digital$14.5B +35.7%52.6%69.2%107.2%29.6%0.11
Where each dollar goes

From $14.1B of sales to $1.9B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $5.1BRevenue to Cost of revenue: $9.0BGross profit to Operating profit: $2.1BGross profit to Operating expenses: $3.0BOperating profit to Net profit: $1.6BOperating profit to Tax: $491.0MOther income to Net profit: $285.0MOperating expenses to R&D: $800.0MOperating expenses to Sales, admin & other: $2.2B Revenue: $14.1B Revenue$14.1B +25% Y/Y Gross profit: $5.1B · 36% margin Gross profit$5.1B36% margin +43% Y/Y Cost of revenue: $9.0B · 64% of revenue Cost of revenue$9.0B64% of revenue Operating profit: $2.1B · 15% margin Operating profit$2.1B15% margin +315% Y/Y Other income: $285.0M · 2% of revenue Other income$285.0M2% of revenue Operating expenses: $3.0B · 21% of revenue Operating expenses$3.0B21% of revenue Net profit: $1.9B · 14% margin Net profit$1.9B14% margin +272% Y/Y Tax: $491.0M · 3% of revenue Tax$491.0M3% of revenue R&D: $800.0M · 6% of revenue R&D$800.0M6% of revenue Sales, admin & other: $2.2B · 15% of revenue Sales, admin & other$2.2B15% of revenue

Swipe sideways for the whole flow →

From $14.2B of sales to $1.3B of profit

FY2022, from the 10-K income statement and revenue by product
Display products to Revenue: $2.8BLife science products to Revenue: $1.2BTelecommunication products to Revenue: $5.0BSpecialty glass products to Revenue: $2.0BEnvironmental substrate and filter products to Revenue: $1.5BOther to Revenue: $1.7BRevenue to Gross profit: $4.5BRevenue to Cost of revenue: $9.7BGross profit to Operating profit: $1.4BGross profit to Operating expenses: $3.1BOperating profit to Net profit: $1.0BOperating profit to Tax: $411.0MOther income to Net profit: $289.0MOperating expenses to R&D: $900.0MOperating expenses to Sales, admin & other: $2.2B Display products: $2.8B · 20% Display products$2.8B20% Life science products: $1.2B · 8% Life science products$1.2B8% Telecommunication products: $5.0B · 35% Telecommunication produ…$5.0B35% Specialty glass products: $2.0B · 14% Specialty glass products$2.0B14% Environmental substrate and filter products: $1.5B · 11% Environmental substrate…$1.5B11% Other: $1.7B · 12% Other$1.7B12% Revenue: $14.2B Revenue$14.2B +1% Y/Y Gross profit: $4.5B · 32% margin Gross profit$4.5B32% margin −11% Y/Y Cost of revenue: $9.7B · 68% of revenue Cost of revenue$9.7B68% of revenue Operating profit: $1.4B · 10% margin Operating profit$1.4B10% margin −32% Y/Y Other income: $289.0M · 2% of revenue Other income$289.0M2% of revenue Operating expenses: $3.1B · 22% of revenue Operating expenses$3.1B22% of revenue Net profit: $1.3B · 9% margin Net profit$1.3B9% margin −31% Y/Y Tax: $411.0M · 3% of revenue Tax$411.0M3% of revenue R&D: $900.0M · 6% of revenue R&D$900.0M6% of revenue Sales, admin & other: $2.2B · 15% of revenue Sales, admin & other$2.2B15% of revenue

Swipe sideways for the whole flow →

From $12.6B of sales to $581.0M of profit

FY2023, from the 10-K income statement and revenue by product
Display products to Revenue: $2.7BSpecialty material products to Revenue: $1.9BAutomotive products to Revenue: $1.8BLife science products to Revenue: $922.0MSpecialty glass products to Revenue: $1.9BOther to Revenue: $3.1BRevenue to Gross profit: $3.9BRevenue to Cost of revenue: $8.7BGross profit to Operating profit: $890.0MGross profit to Operating expenses: $3.0BOperating profit to Net profit: $581.0MOperating profit to Tax & other: $309.0MOperating expenses to R&D: $900.0MOperating expenses to Sales, admin & other: $2.1B Display products: $2.7B · 22% Display products$2.7B22% Specialty material products: $1.9B · 15% Specialty material prod…$1.9B15% Automotive products: $1.8B · 15% Automotive products$1.8B15% Life science products: $922.0M · 8% Life science products$922.0M8% Specialty glass products: $1.9B · 15% Specialty glass products$1.9B15% Other: $3.1B · 25% Other$3.1B25% Revenue: $12.6B Revenue$12.6B −11% Y/Y Gross profit: $3.9B · 31% margin Gross profit$3.9B31% margin −13% Y/Y Cost of revenue: $8.7B · 69% of revenue Cost of revenue$8.7B69% of revenue Operating profit: $890.0M · 7% margin Operating profit$890.0M7% margin −38% Y/Y Operating expenses: $3.0B · 24% of revenue Operating expenses$3.0B24% of revenue Net profit: $581.0M · 5% margin Net profit$581.0M5% margin −56% Y/Y Tax & other: $309.0M · 2% of revenue Tax & other$309.0M2% of revenue R&D: $900.0M · 7% of revenue R&D$900.0M7% of revenue Sales, admin & other: $2.1B · 17% of revenue Sales, admin & other$2.1B17% of revenue

Swipe sideways for the whole flow →

From $13.1B of sales to $506.0M of profit

FY2024, from the 10-K income statement
Revenue to Gross profit: $4.3BRevenue to Cost of revenue: $8.8BGross profit to Operating profit: $1.1BGross profit to Operating expenses: $3.1BOperating profit to Net profit: $506.0MOperating profit to Tax & other: $629.0MOperating expenses to R&D: $800.0MOperating expenses to Sales, admin & other: $2.3B Revenue: $13.1B Revenue$13.1B +4% Y/Y Gross profit: $4.3B · 33% margin Gross profit$4.3B33% margin +9% Y/Y Cost of revenue: $8.8B · 67% of revenue Cost of revenue$8.8B67% of revenue Operating profit: $1.1B · 9% margin Operating profit$1.1B9% margin +28% Y/Y Operating expenses: $3.1B · 24% of revenue Operating expenses$3.1B24% of revenue Net profit: $506.0M · 4% margin Net profit$506.0M4% margin −13% Y/Y Tax & other: $629.0M · 5% of revenue Tax & other$629.0M5% of revenue R&D: $800.0M · 6% of revenue R&D$800.0M6% of revenue Sales, admin & other: $2.3B · 18% of revenue Sales, admin & other$2.3B18% of revenue

Swipe sideways for the whole flow →

From $15.6B of sales to $1.6B of profit

FY2025, from the 10-K income statement and revenue by product
Optical Communications to Revenue: $6.3BDisplay products to Revenue: $3.0BSpecialty material products to Revenue: $2.2BAutomotive products to Revenue: $1.8BLife science products to Revenue: $959.0MOther to Revenue: $1.5BRevenue to Gross profit: $5.6BRevenue to Cost of revenue: $10.0BGross profit to Operating profit: $2.3BGross profit to Operating expenses: $3.3BOperating profit to Net profit: $1.6BOperating profit to Tax & other: $683.0MOperating expenses to R&D: $800.0MOperating expenses to Sales, admin & other: $2.5B Optical Communications: $6.3B · 40% Optical Communications$6.3B40% Display products: $3.0B · 19% Display products$3.0B19% Specialty material products: $2.2B · 14% Specialty material prod…$2.2B14% Automotive products: $1.8B · 11% Automotive products$1.8B11% Life science products: $959.0M · 6% Life science products$959.0M6% Other: $1.5B · 9% Other$1.5B9% Revenue: $15.6B Revenue$15.6B +19% Y/Y Gross profit: $5.6B · 36% margin Gross profit$5.6B36% margin +31% Y/Y Cost of revenue: $10.0B · 64% of revenue Cost of revenue$10.0B64% of revenue Operating profit: $2.3B · 15% margin Operating profit$2.3B15% margin +101% Y/Y Operating expenses: $3.3B · 21% of revenue Operating expenses$3.3B21% of revenue Net profit: $1.6B · 10% margin Net profit$1.6B10% margin +215% Y/Y Tax & other: $683.0M · 4% of revenue Tax & other$683.0M4% of revenue R&D: $800.0M · 5% of revenue R&D$800.0M5% of revenue Sales, admin & other: $2.5B · 16% of revenue Sales, admin & other$2.5B16% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

2 of 4
  • !
    Net margin below the peer median12.1% vs 19.1%
  • ✓
    Gross margin up over 5 years31.2% → 36.0%
  • ✓
    Return on equity above 15%15.7%
  • !
    A profit in 9 of 10 years
Net margin, FY2016 to FY2025: 39.4% → 10.2%

Balance sheet

3 of 3
  • ✓
    Interest covered more than 5 timesOperating income is 6.8× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.60 on the latest balance sheet (peer median 0.46)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.72
Debt / equity at each year end, FY2016 to FY2025: 0.22 → 0.71
What the debt is made of ↓

Cash and shareholders

2 of 3
  • !
    Share count up over 5 years+12.8%
  • ✓
    Dividend per share up over 5 years$0.88 → $1.12
  • ✓
    Cash from operations above net income$2.7B vs $1.6B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$8.5B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 15.6B Net income 1.6B
FY2016 revenue 9.4B · Revenues, 0000024741-19-000016 FY2016 net income 3.7B · NetIncomeLoss, 0000024741-19-000016 9.4B FY2016 FY2017 revenue 10.1B · Revenues, 0000024741-20-000014 FY2017 net income -497.0M · NetIncomeLoss, 0000024741-20-000014 10.1B FY2017 FY2018 revenue 11.3B · Revenues, 0001562762-21-000023 FY2018 net income 1.1B · NetIncomeLoss, 0001562762-21-000023 11.3B FY2018 FY2019 revenue 11.5B · Revenues, 0001437749-22-003247 FY2019 net income 960.0M · NetIncomeLoss, 0001437749-22-003247 11.5B FY2019 FY2020 revenue 11.3B · Revenues, 0001437749-23-003123 FY2020 net income 512.0M · NetIncomeLoss, 0001437749-23-003123 11.3B FY2020 FY2021 revenue 14.1B · Revenues, 0001437749-24-003735 FY2021 net income 1.9B · NetIncomeLoss, 0001437749-24-003735 14.1B FY2021 FY2022 revenue 14.2B · Revenues, 0001628280-25-005347 FY2022 net income 1.3B · NetIncomeLoss, 0001628280-25-005347 14.2B FY2022 FY2023 revenue 12.6B · Revenues, 0000024741-26-000124 FY2023 net income 581.0M · NetIncomeLoss, 0000024741-26-000124 12.6B FY2023 FY2024 revenue 13.1B · Revenues, 0000024741-26-000124 FY2024 net income 506.0M · NetIncomeLoss, 0000024741-26-000124 13.1B FY2024 FY2025 revenue 15.6B · Revenues, 0000024741-26-000124 FY2025 net income 1.6B · NetIncomeLoss, 0000024741-26-000124 15.6B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

GLW's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue15.6B
FY2016: 9.4BFY2017: 10.1BFY2018: 11.3BFY2019: 11.5BFY2020: 11.3BFY2021: 14.1BFY2022: 14.2BFY2023: 12.6BFY2024: 13.1BFY2025: 15.6B FY2017FY2019FY2021FY2023FY2025
Net income1.6B
FY2016: 3.7BFY2017: -497.0MFY2018: 1.1BFY2019: 960.0MFY2020: 512.0MFY2021: 1.9BFY2022: 1.3BFY2023: 581.0MFY2024: 506.0MFY2025: 1.6B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)1.83
FY2016: 3.23FY2017: -0.66FY2018: 1.13FY2019: 1.07FY2020: 0.54FY2021: 1.28FY2022: 1.54FY2023: 0.68FY2024: 0.58FY2025: 1.83 FY2017FY2019FY2021FY2023FY2025
Dividend per share1.12
FY2016: 0.54FY2017: 0.62FY2018: 0.72FY2019: 0.80FY2020: 0.88FY2021: 0.96FY2022: 1.08FY2023: 1.12FY2024: 1.12FY2025: 1.12 FY2017FY2019FY2021FY2023FY2025
Diluted shares871.0M
FY2016: 1.1BFY2017: 895.0MFY2018: 941.0MFY2019: 899.0MFY2020: 772.0MFY2021: 844.0MFY2022: 857.0MFY2023: 859.0MFY2024: 869.0MFY2025: 871.0M FY2017FY2019FY2021FY2023FY2025

The segments changed

10-K filed 2026-02-12
Certain prior year amounts have been reclassified to conform to the current year presentation, including the recast of the Company’s segment related disclosures to align with the new reportable segments as of January 1, 2025. 10-K

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Optical Communications 6.3B40.1% +34.7%
Display products 3.0B19.0% +8.7%
Specialty material products 2.2B14.0% +9.7%
Automotive products 1.8B11.4% +4.3%
Life science products 959.0M6.1% +2.8%
Polycrystalline silicon products 955.0M6.1% +10.4%
All other products 505.0M3.2% +118%

10-K 0000024741-26-000124, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue9.4B10.1B11.3B11.5B11.3B14.1B14.2B12.6B13.1B15.6B
Cost of revenue5.6B6.1B6.8B7.5B7.8B9.0B9.7B8.7B8.8B10.0B
Gross profit3.8B4.0B4.5B4.0B3.5B5.1B4.5B3.9B4.3B5.6B
R&D637.0M689.0M807.0M800.0M1.0B800.0M900.0M900.0M800.0M800.0M
SG&A1.5B1.5B1.8B1.6B1.7B1.8B1.9B1.8B1.9B2.1B
Operating income1.4B1.6B1.6B1.3B509.0M2.1B1.4B890.0M1.1B2.3B
Interest expense184.0M178.0M205.0M248.0M298.0M287.0M292.0M329.0M329.0M336.0M
Pretax income3.7B1.7B1.5B1.2B634.0M2.4B1.8B816.0M813.0M2.1B
Income tax-3.0M2.2B437.0M256.0M111.0M491.0M411.0M168.0M221.0M310.0M
Net income3.7B-497.0M1.1B960.0M512.0M1.9B1.3B581.0M506.0M1.6B
EPS (diluted)3.23-0.661.131.070.541.281.540.680.581.83
Diluted shares1.1B895.0M941.0M899.0M772.0M844.0M857.0M859.0M869.0M871.0M
Depreciation & amortization1.1B1.1B1.2B1.4B1.4B1.4B1.3B1.2B1.2B1.2B
EBITDA2.6B2.7B2.8B2.7B1.9B3.5B2.8B2.1B2.4B3.5B
Gross margin40.1%39.7%39.5%35.1%31.2%36.0%31.8%31.2%32.6%36.0%
Operating margin15.2%15.9%14.0%11.4%4.5%15.0%10.1%7.1%8.7%14.6%
Net margin39.4%-4.9%9.4%8.3%4.5%13.5%9.3%4.6%3.9%10.2%
Revenue growth-+7.7%+11.6%+1.9%-1.7%+24.6%+0.8%-11.3%+4.2%+19.1%
EPS growth--120%--5.3%-49.5%+137%+20.3%-55.8%-14.7%+216%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash5.3B4.3B2.4B2.4B2.7B2.1B1.7B1.8B1.8B1.5B
Receivables1.5B1.8B1.9B1.8B2.1B2.0B1.7B1.6B2.1B2.8B
Inventory1.5B1.7B2.0B2.3B2.5B2.5B2.9B2.7B2.7B3.1B
Current assets9.0B8.8B7.0B7.5B8.0B7.7B7.5B7.2B8.0B8.9B
Property & equipment12.5B14.0B14.9B15.3B15.7B15.8B15.4B14.6B13.4B14.8B
Goodwill1.6B1.7B1.9B1.9B2.5B2.4B2.4B2.4B2.4B2.5B
Total assets27.9B27.5B27.5B28.9B30.8B30.2B29.5B28.5B27.7B31.0B
Accounts payable1.1B1.4B1.5B1.6B1.2B1.6B1.8B1.5B1.5B2.0B
Current liabilities2.8B3.2B3.3B3.5B3.8B4.8B5.2B4.3B4.9B5.6B
Total debt3.9B5.1B6.0B7.7B8.0B7.0B6.9B7.5B7.2B8.4B
Total liabilities9.9B11.7B13.6B15.9B17.3B17.6B17.2B16.6B16.7B18.7B
Shareholders' equity17.9B15.7B13.8B12.9B13.3B12.3B12.0B11.6B10.7B11.8B
Retained earnings16.9B15.9B16.3B16.4B16.1B16.4B16.8B16.4B15.9B16.6B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow2.5B2.0B2.9B2.0B2.2B3.4B2.6B2.0B1.9B2.7B
Stock-based pay (added back)42.0M46.0M51.0M56.0M207.0M190.0M175.0M218.0M273.0M286.0M
Buybacks4.2B2.5B2.2B940.0M105.0M274.0M221.0M-165.0M163.0M
Acquisitions333.0M171.0M842.0M--4.0M-----
Debt raised-----22.0M127.0M918.0M153.0M294.0M
Debt repaid---300.0M121.0M716.0M87.0M284.0M267.0M298.0M
Investing cash flow3.7B-1.7B-2.9B-1.9B-1.3B-1.4B-1.4B-1.0B-744.0M-1.2B
Financing cash flow-5.3B-1.6B-2.0B-47.0M-729.0M-2.5B-1.6B-883.0M-1.2B-1.7B
Dividend per share0.540.620.720.800.880.961.081.121.121.12

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)42.0M46.0M51.0M56.0M207.0M190.0M175.0M218.0M273.0M286.0M
Stock-based pay / revenue0.4%0.5%0.5%0.5%1.8%1.3%1.2%1.7%2.1%1.8%
Operating lease cost--156.0M110.0M133.0M139.0M147.0M171.0M170.0M165.0M
Operating lease cash paid---105.0M121.0M134.0M116.0M153.0M139.0M147.0M
Finance lease principal paid---6.0M10.0M13.0M-36.0M30.0M346.0M
Right-of-use assets---504.0M680.0M741.0M842.0M883.0M796.0M860.0M
Operating lease liabilities---512.0M729.0M785.0M906.0M958.0M880.0M943.0M
Finance lease liabilities---280.0M173.0M183.0M--174.0M1.2B

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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