Corning Incorporated

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to Dec 2025, Optical Communications was 40% and Display products was 19% of revenue; Optical Communications rose from 32% in the fiscal year to Dec 2023.

Quarters: Corning Incorporated's SEC filings, named by the month they end. Fiscal years: Corning Incorporated's annual reports to the SEC.

How it makes money

Of every $100 in revenue, $10.2 ends up as net income. Net margin was roughly flat over the past 3 years.

Circled: Sep 2024 (net −3.5%, operating 8.9%). Net margin is usually about 3 points below operating margin; in that quarter something below operating income (a tax charge or benefit, a gain or loss on investments, a write-down) moved it, not the business itself.

Each margin is that line of the income statement divided by revenue. Fiscal year: Corning Incorporated's annual reports to the SEC; quarters: SEC filings.

Customers and suppliers

 

GLWCorning

Customers

T1 Energy TE

Their customers

RWE Investco EPC MGMTfrom T1 Energy

Trina Groupfrom T1 Energy

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Partners

SSDCinvested in Corning · Holds Corning common shares22 million common shares eligible for repurchase in 2024–2027

Apple AAPLCollaborates on durable glass for iPhones

Named in other companies’ filings

Xanadu Quantum Technologies XNDUco-develops with it · Develops ultra-low-loss fiber interconnects

Only the companies Corning names in its 10-K filed Feb 12, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names Corning. The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

P/E of 48.4x, above the peer median of 26.7x, so it needs earnings to keep growing to hold up.

Priced 81% above the peer median of 26.7x.

At 48.4× trailing earnings GLW is inside the middle of its five-year range; the five-year median is 48.5×.

Closing price over diluted earnings per share of the last four reported quarters, as known on each day (a quarter counts 35 days after it ends). From SEC filings; earnings per share adjusted for splits.

What analysts expect

The average analyst price target is $177, 48% above the current price; 78% of 18 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.

Buy or Strong Buy: 14 analysts (78%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $92.11 to $183.64 (+99%), while GLW went from $82.36 to $119.50 (+45%). In the past three months targets were raised 3 times and cut 6 times. 1 upgrade and 1 downgrade over the year; the latest: Truist Securities moved it to Buy from Hold on Aug 3, 2026.

The day after each of these reports the stock moved −6.1% (Dec 2025, beat); −9.6% (Mar 2026, beat); −13.5% (Jun 2026, beat); +2.7% (Sep 2026, beat).

For the quarter ending Dec 2026 (Corning reports on Jan 26, 2027), analysts expect adjusted earnings of $0.97 a share, 35% more than the $0.72 of a year earlier, and revenue of $5.3B. For the fiscal year ending Dec 2027, they expect adjusted earnings of $4.53 a share, 34% more than the year before's estimate of $3.37, and revenue of $23.5B, up 21% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $2.5B in free cash flow over the year, of which $1.0B went back to shareholders (dividends plus buybacks), leaving $1.4B in the company.

Corning had 871M diluted shares in the quarter ended Sep 2026, 0.3% more than a year earlier, and 2.2% more each year on average since Jun 2020. Over the last four quarters its earnings per share rose 57.3% and its net income rose 57.4%: more shares took about 0 points off.

Free cash flow: operating cash flow minus capital spending. Last 4 quarters: Yahoo Finance, buybacks from SEC filings where they have the quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 1.6, no pressure to repay short-term debt; debt-to-equity 0.7, debt is moderate.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 1 member of Congress and 11 funds whose copy leaves GLW out (on the exchange, not in the app yet): Whale Rock Capital Management, Nan Shan Life Insurance, UNICOM Systems, Norges Bank, Canada Pension Plan Investment Board, Swiss National Bank and 6 more.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 16 held GLW at the end of their latest quarter (for most, Q2 2026). Over that quarter 6 added shares, 7 cut, 2 bought new, 3 sold all and 1 held the same. The largest of them is Norges Bank, 10.24M shares worth $2.6B at Jun 30, 2026, 2.7% fewer than at Dec 31, 2025.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of GLW at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors sold $93.4M of GLW on the open market in the 12 months to Nov 12, 2026; none bought. The largest was Wendell P Weeks (Chairman, CEO and President; director), who sold $40.0M in 2 sales.

From the Form 4s filed with the SEC about Corning Incorporated (124 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 152 other transactions (grants, option exercises, shares withheld for tax, gifts and other transfers). Also not counted: 2 trades by holders of more than 10% who are neither officers nor directors.