Corning Incorporated (GLW) Key Metrics
GLW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $113.70B
- Enterprise value
- $139.94B
- P/E (TTM)
- 60.6 10-yr median 27.3
- Forward P/E
- 38.5
- PEG ratio
- 0.95
- Price / sales
- 6.7 10-yr median 2.5
- Price / book
- 11.0 10-yr median 2.2
- EV / EBITDA
- 34.4 10-yr median 10.8
- Dividend yield
- 0.85% $1.12 a year
- Beta
- 1.12
GLW key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsGLW valuation Price multiples at each fiscal year-end price.
GLW returns How much profit the business earns on the capital it uses.
GLW per-share figures Results divided by the shares outstanding at year-end.
GLW financial health Debt, liquidity and how easily interest is covered.
GLW efficiency & capital use Working capital cycle and where the cash goes.
GLW valuation history
GLW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
GLW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
GLW cash returned to shareholders
GLW price vs earnings per share
GLW key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $75.30B | $41.29B | $26.16B | $27.37B | $31.42B | $27.79B | $26.17B | $28.43B | $28.63B | $27.76B |
| Enterprise value | $84.00B | $47.62B | $32.86B | $33.52B | $37.10B | $33.82B | $31.99B | $32.07B | $29.44B | $26.38B |
| P/E ratio | 47.2 | 81.6 | 45.0 | 20.8 | 16.5 | 54.3 | 27.3 | 26.7 | — | 7.5 |
| Price / sales | 4.8 | 3.1 | 2.1 | 1.9 | 2.2 | 2.5 | 2.3 | 2.5 | 2.8 | 3.0 |
| Price / book | 6.4 | 3.9 | 2.3 | 2.3 | 2.5 | 2.1 | 2.0 | 2.1 | 1.8 | 1.6 |
| Price / free cash flow | 53.3 | 42.4 | 42.5 | 27.1 | 17.7 | 34.6 | 594.8 | 42.0 | 143.2 | 20.0 |
| Price / operating cash flow | 27.9 | 21.3 | 13.0 | 10.5 | 9.2 | 12.7 | 12.9 | 9.7 | 14.3 | 11.1 |
| EV / sales | 5.4 | 3.6 | 2.6 | 2.4 | 2.6 | 3.0 | 2.8 | 2.8 | 2.9 | 2.8 |
| EV / EBITDA | 22.5 | 19.1 | 36.9 | 9.5 | 8.8 | 14.0 | 10.9 | 10.7 | 9.9 | 5.2 |
| EV / free cash flow | 59.4 | 48.9 | 53.4 | 33.2 | 20.9 | 42.1 | 727.0 | 47.4 | 147.2 | 19.0 |
| Earnings yield | 2.1% | 1.2% | 2.2% | 4.8% | 6.1% | 1.8% | 3.7% | 3.7% | −1.7% | 13.3% |
| Free cash flow yield | 1.9% | 2.4% | 2.4% | 3.7% | 5.6% | 2.9% | 0.2% | 2.4% | 0.7% | 5.0% |
| Dividend yield | 1.3% | 2.4% | 3.8% | 3.4% | 2.8% | 2.8% | 2.8% | 2.4% | 2.3% | 2.3% |
| Shareholder yield (dividends + buybacks) | 1.5% | 3.0% | 4.2% | 6.1% | 5.3% | 3.2% | 6.4% | 10.2% | 10.8% | 17.6% |
| Share price at fiscal year-end | $87.56 | $47.52 | $30.45 | $31.94 | $37.23 | $36.00 | $29.11 | $30.21 | $31.99 | $24.27 |
| Per share | ||||||||||
| Revenue per share | $18.17 | $15.10 | $14.65 | $16.56 | $16.68 | $14.64 | $12.80 | $12.00 | $11.30 | $8.21 |
| Earnings per share | $1.86 | $0.58 | $0.68 | $1.54 | $2.26 | $0.66 | $1.07 | $1.13 | −$0.56 | $3.23 |
| Operating cash flow per share | $3.13 | $2.23 | $2.33 | $3.05 | $4.04 | $2.82 | $2.26 | $3.10 | $2.24 | $2.19 |
| Free cash flow per share | $1.64 | $1.12 | $0.72 | $1.18 | $2.10 | $1.04 | $0.05 | $0.72 | $0.22 | $1.22 |
| Cash per share | $1.77 | $2.03 | $2.07 | $1.95 | $2.55 | $3.46 | $2.71 | $2.50 | $4.82 | $4.62 |
| Book value per share | $13.73 | $12.30 | $13.45 | $14.01 | $14.61 | $17.17 | $14.36 | $14.66 | $17.57 | $15.64 |
| Tangible book value per share | $10.07 | $8.71 | $9.62 | $10.02 | $10.38 | $12.29 | $10.89 | $11.23 | $14.71 | $13.57 |
| Dividends per share | $1.16 | $1.13 | $1.15 | $1.09 | $1.03 | $1.02 | $0.83 | $0.73 | $0.73 | $0.56 |
| Capex per share | $1.49 | $1.11 | $1.62 | $1.87 | $1.94 | $1.78 | $2.21 | $2.38 | $2.02 | $0.97 |
| Debt per share | $11.89 | $9.31 | $9.88 | $9.12 | $9.28 | $11.27 | $9.18 | $6.37 | $5.73 | $3.41 |
| Shares outstanding | 860.0M | 869.0M | 859.0M | 857.0M | 844.0M | 772.0M | 899.0M | 941.0M | 895.0M | 1.14B |
| Change in shares outstanding | −1.0% | +1.2% | +0.2% | +1.5% | +9.3% | −14.1% | −4.5% | +5.1% | −21.8% | −14.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.2% | 4.6% | 4.9% | 10.8% | 14.9% | 3.9% | 7.2% | 7.2% | −3.0% | 20.1% |
| Return on invested capital (ROIC) | 10.6% | 4.7% | 4.9% | 6.1% | 9.0% | 2.2% | 5.7% | 6.6% | 4.9% | 8.1% |
| Return on assets (ROA) | 5.4% | 1.8% | 2.0% | 4.4% | 6.3% | 1.7% | 3.4% | 3.9% | −1.8% | 13.1% |
| Return on tangible assets | 5.7% | 2.1% | 2.3% | 5.0% | 7.2% | 1.9% | 3.7% | 4.4% | −2.0% | 14.5% |
| Free cash flow margin | 9.0% | 7.4% | 4.9% | 7.1% | 12.6% | 7.1% | 0.4% | 6.0% | 2.0% | 14.8% |
| Income quality (OCF / net income) | 1.69 | 3.83 | 3.45 | 1.99 | 1.79 | 4.26 | 2.12 | 2.74 | — | 0.68 |
| Financial health | ||||||||||
| Total debt | $10.22B | $8.09B | $8.48B | $7.82B | $7.83B | $8.70B | $8.25B | $6.00B | $5.13B | $3.90B |
| Cash & short-term investments | $1.53B | $1.77B | $1.78B | $1.67B | $2.15B | $2.67B | $2.43B | $2.35B | $4.32B | $5.29B |
| Net debt | $8.70B | $6.32B | $6.71B | $6.15B | $5.68B | $6.03B | $5.82B | $3.64B | $811.0M | −$1.39B |
| Debt / equity | 0.87 | 0.76 | 0.73 | 0.65 | 0.63 | 0.66 | 0.64 | 0.43 | 0.33 | 0.22 |
| Debt / assets | 0.33 | 0.29 | 0.30 | 0.26 | 0.26 | 0.28 | 0.29 | 0.22 | 0.19 | 0.14 |
| Net debt / EBITDA | 2.33 | 2.54 | 7.53 | 1.74 | 1.35 | 2.49 | 1.98 | 1.22 | 0.27 | −0.28 |
| Current ratio | 1.59 | 1.62 | 1.67 | 1.44 | 1.59 | 2.12 | 2.12 | 2.12 | 2.75 | 3.29 |
| Quick ratio | 1.04 | 1.07 | 1.05 | 0.88 | 1.08 | 1.48 | 1.46 | 1.51 | 2.22 | 2.75 |
| Interest coverage | 6.9 | 3.4 | 2.7 | 4.9 | 7.0 | 1.8 | 5.9 | 8.2 | 10.5 | 9.0 |
| Working capital | $3.31B | $3.07B | $2.89B | $2.28B | $2.85B | $4.24B | $3.94B | $3.72B | $5.62B | $6.30B |
| Invested capital | $20.50B | $17.01B | $18.26B | $18.15B | $18.01B | $19.29B | $18.73B | $17.43B | $16.54B | $16.50B |
| Tangible asset value | $9.16B | $7.96B | $8.58B | $8.85B | $8.98B | $9.68B | $9.88B | $10.66B | $13.19B | $15.59B |
| Net current asset value | −$9.73B | −$8.67B | −$9.42B | −$9.77B | −$9.95B | −$9.32B | −$8.44B | −$6.58B | −$2.90B | −$891.0M |
| Graham number | $23.94 | $12.69 | $14.31 | $22.00 | $27.25 | $16.01 | $18.57 | $19.33 | — | $33.71 |
| Graham net-net per share | −$15.72 | −$13.80 | −$14.37 | −$14.95 | −$15.07 | −$15.33 | −$12.16 | −$9.34 | −$5.81 | −$2.45 |
| Capital allocation | ||||||||||
| Dividends paid | $999.0M | $986.0M | $989.0M | $932.0M | $871.0M | $787.0M | $742.0M | $685.0M | $651.0M | $645.0M |
| Share buybacks (net) | $163.0M | $246.0M | $106.0M | $728.0M | $781.0M | $105.0M | $940.0M | $2.23B | $2.45B | $4.24B |
| Dividend payout ratio | 62.6% | 194.9% | 170.2% | 70.8% | 45.7% | 153.7% | 77.3% | 64.3% | — | 17.5% |
| Dividends + buybacks / free cash flow | 82.2% | 126.5% | 178.0% | 164.2% | 93.1% | 111.1% | — | 430.1% | — | 351.4% |
| Capex / revenue | 8.2% | 7.4% | 11.0% | 11.3% | 11.6% | 12.2% | 17.3% | 19.9% | 17.8% | 11.8% |
| Capex / operating cash flow | 47.6% | 49.8% | 69.3% | 61.3% | 48.0% | 63.2% | 97.8% | 76.8% | 90.0% | 44.4% |
| Capex / depreciation | 0.95 | 0.71 | 1.02 | 1.10 | 1.11 | 0.91 | 1.32 | 1.73 | 1.56 | 0.93 |
| Stock-based compensation / revenue | 1.8% | 2.1% | 1.7% | 1.2% | 1.3% | 1.8% | 0.5% | 0.5% | 0.5% | 0.4% |
| R&D / revenue | 7.1% | 8.3% | 8.5% | 7.4% | 7.1% | 10.2% | 9.0% | 8.8% | 8.5% | 7.9% |
| SG&A / revenue | 13.6% | 14.7% | 14.6% | 13.4% | 13.0% | 15.5% | 13.8% | 15.9% | 14.5% | 15.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 56.4 | 50.4 | 47.7 | 47.9 | 53.6 | 64.1 | 59.9 | 60.6 | 59.3 | 55.4 |
| Days of inventory on hand | 104.7 | 111.3 | 117.4 | 101.5 | 99.5 | 111.7 | 106.5 | 100.2 | 95.3 | 92.6 |
| Days payables outstanding | 62.3 | 60.6 | 68.9 | 64.4 | 56.4 | 64.8 | 74.4 | 77.4 | 75.4 | 65.3 |
| Cash conversion cycle (days) | 98.8 | 101.0 | 96.2 | 85.0 | 96.8 | 111.0 | 92.0 | 83.4 | 79.2 | 82.8 |
| Receivables turnover | 6.47 | 7.24 | 7.65 | 7.62 | 6.81 | 5.70 | 6.09 | 6.03 | 6.15 | 6.58 |
| Payables turnover | 5.86 | 6.02 | 5.29 | 5.67 | 6.47 | 5.63 | 4.91 | 4.72 | 4.84 | 5.59 |
| Inventory turnover | 3.49 | 3.28 | 3.11 | 3.60 | 3.67 | 3.27 | 3.43 | 3.64 | 3.83 | 3.94 |
| Asset turnover | 0.53 | 0.47 | 0.43 | 0.48 | 0.46 | 0.38 | 0.41 | 0.41 | 0.37 | 0.33 |
| Average receivables | $2.42B | $1.81B | $1.65B | $1.86B | $2.07B | $1.98B | $1.89B | $1.87B | $1.64B | $1.43B |
| Average payables | $1.73B | $1.47B | $1.64B | $1.71B | $1.39B | $1.38B | $1.52B | $1.45B | $1.26B | $1.01B |
| Average inventory | $2.90B | $2.69B | $2.79B | $2.69B | $2.46B | $2.38B | $2.18B | $1.87B | $1.59B | $1.43B |
| Intangibles / total assets | 10.2% | 11.2% | 11.5% | 11.6% | 11.8% | 12.2% | 10.8% | 11.7% | 9.3% | 8.5% |
Computed from GLW's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
GLW valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Corning traded at 47.2 times earnings, against a 10-year median of 27.3. Based on the latest twelve months, the trailing P/E is 60.6 and the forward P/E is 38.5. Corning earned a return on equity of 14.2% and a return on invested capital of 10.6% in fiscal 2025. It ended the year with $10.2 billion of debt and $1.5 billion in cash and short-term investments, net debt of $8.7 billion. It returned $1.2 billion to shareholders: $999.0 million in dividends and $163.0 million in share buybacks, 82% of free cash flow. The share count fell 24.8% from 1.14B to 860.0M over 9 years.
See the GLW income statement, the GLW chart for price history, or the GLW stock overview for the latest quote and news.
GLW key metrics FAQ
What is Corning's P/E ratio?
Corning's trailing P/E ratio is 60.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 38.5. At the end of fiscal 2025 it was 47.2, compared with a 10-year median of 27.3.
What is Corning's EV/EBITDA?
Corning's enterprise value was 22.5 times EBITDA at the end of fiscal 2025 (enterprise value $84.0 billion, EBITDA $3.7 billion); the current EV/EBITDA is 34.4.
What is Corning's return on equity?
Corning's return on equity (ROE) was 14.2% in fiscal 2025: net income of $1.6 billion on average shareholders' equity of $11.2 billion.
What is Corning's ROIC?
Corning's return on invested capital was 10.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Corning have?
Corning had total debt of $10.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.87 and $8.7 billion of net debt (2.33 times EBITDA).
What is Corning's dividend yield?
Corning's forward dividend yield is 0.85%. Corning paid $999.0 million in dividends in fiscal 2025 ($1.16 per share), a payout ratio of 62.6%.
Does Corning buy back its shares?
Yes. Corning spent $163.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.0% over the year, to 860.0M..
What is Corning's free cash flow yield?
Corning generated $1.4 billion of free cash flow in fiscal 2025, a free cash flow yield of 1.9% on its market value at year-end ($75.3 billion).
What is Corning's current ratio?
Corning's current ratio was 1.59 at the end of fiscal 2025: current assets were 1.59 times current liabilities.