Corning Inc.

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GLW : NYSE : Electronic Technology
$29.26 up 0.37 | 1.28%
Today's Range: 28.95 - 29.4
Avg. Daily Volume: 6759800.0
03/20/18 - 4:00 PM ET

Financial Analysis

CORNING INC's gross profit margin for the fourth quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. CORNING INC has strong liquidity. Currently, the Quick Ratio is 1.91 which shows the ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has decreased by 12.26% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.

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Income Statement Q4 FY17 Q4 FY16
Net Sales ($mil)2637.02476.0
EBITDA ($mil)702.0792.0
EBIT ($mil)396.0487.0
Net Income ($mil)-1412.01572.0

Balance Sheet Q4 FY17 Q4 FY16
Cash & Equiv. ($mil)4317.05291.0
Total Assets ($mil)27494.027899.0
Total Debt ($mil)5128.03902.0
Equity ($mil)15698.017893.0

Profitability Q4 FY17 Q4 FY16
Gross Profit Margin49.9853.39
EBITDA Margin26.6231.98
Operating Margin15.0219.67
Sales Turnover0.370.34
Return on Assets-1.813.24
Return on Equity-3.7920.1
Debt Q4 FY17 Q4 FY16
Current Ratio2.753.29
Interest Expense43.037.0
Interest Coverage9.2113.16

Share Data Q4 FY17 Q4 FY16
Shares outstanding (mil)858.0926.0
Div / share0.160.14
Book value / share18.319.32
Institutional Own % n/a n/a
Avg Daily Volume6957525.05377904.0


HOLD. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. For additional comparison, its price-to-book ratio of 1.61 indicates a significant discount versus the S&P 500 average of 3.28 and a significant discount versus the industry average of 4.02. The price-to-sales ratio is above the S&P 500 average, but well below the industry average. After reviewing these and other key valuation criteria, CORNING INC proves to trade at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
GLW NM Peers 55.81   GLW 12.64 Peers 20.59

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

GLW's P/E is negative making this valuation measure meaningless.


Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

GLW is trading at a significant discount to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
GLW 15.18 Peers 21.45   GLW NA Peers 1.42

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

GLW is trading at a discount to its peers.


Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
GLW 1.61 Peers 4.02   GLW -124.07 Peers -1.10

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

GLW is trading at a significant discount to its peers.


Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, GLW is expected to significantly trail its peers on the basis of its earnings growth rate.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
GLW 2.50 Peers 3.22   GLW 7.73 Peers 14.86

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

GLW is trading at a discount to its industry on this measurement.


Lower. A sales growth rate that trails the industry implies that a company is losing market share.

GLW significantly trails its peers on the basis of sales growth



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