Is the business good?
How good a business is GLW?
Corning Inc. earns 10% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
10%
Return on invested capital · cost of capital 9.0% · 1.3 points above what the capital costs: growth creates value
- Operating margin
- 15%
Operating margin · Electronic Components median 9.6% · 12 months to Q1 2026
- Cash conversion
- 0.83×
Cash conversion · 2.36× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +0.58%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 4.5% |
| FY2021 | 15% |
| FY2022 | 10% |
| FY2023 | 7.1% |
| FY2024 | 8.6% |
| FY2025 | 15% |
Details›
- Gross margin12 months to Q1 2026
- 36%
- Operating margin12 months to Q1 2026
- 15%
- Net margin12 months to Q1 2026
- 11%
- Free cash flow margin
- 9.2%
- Revenue, trailing twelve months
- $16.3B
- Free cash flow, trailing twelve months
- $1.50B
- Net income, trailing twelve months
- $1.81B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 10%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electronic Components
Ranks #6 of 23 by Smart Score