NYSE · Financial Statements

Corning Incorporated (GLW) Financial Statements

$123.69 NYSE: GLW Market Cap $106.55B

Corning Incorporated most recently reported annual revenue of $15.6B, net profit of $1.6B. Revenue grew at an average annual rate of 6.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Corning Incorporated: Revenue rose from $9.4B in 2016 to $15.6B in 2025, a change of +66.4% over 9 years; net profit was positive in 9 of 10 reported years; operating margin was broadly flat at about 14.9%; the most recent year shows net profit of $1.6B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$9.4B$10.1B$11.3B$11.5B$11.3B$14.1B$14.2B$12.6B$13.1B$15.6B
Operating Expenses$8.0B$8.5B$9.7B$10.2B$10.8B$12.0B$12.8B$11.7B$12.0B$13.3B
Operating Profit$1.4B$1.6B$1.6B$1.3B$509.0M$2.1B$1.4B$890.0M$1.1B$2.3B
Operating Margin15.2%16.1%13.9%11.3%4.5%15.0%10.1%7.1%8.7%14.9%
Other Income$2.3B$49.0M$-72.0M$-90.0M$114.0M$314.0M$359.0M$-74.0M$-322.0M$-279.0M
Interest$159.0M$155.0M$191.0M$221.0M$276.0M$300.0M$292.0M$329.0M$329.0M$336.0M
Depreciation$1.2B$1.2B$1.3B$1.5B$1.5B$1.5B$1.5B$1.4B$1.4B$1.3B
Profit Before Tax$3.7B$1.7B$1.5B$1.2B$623.0M$2.4B$1.8B$816.0M$813.0M$2.1B
Tax$-80,000$130.0M$29.1M$21.1M$17.8M$20.2M$22.9M$20.6M$27.2M$15.1M
Net Profit$3.7B$-497.0M$1.1B$960.0M$512.0M$1.9B$1.3B$581.0M$506.0M$1.6B
EPS$3.23$-0.66$1.13$1.07$0.54$1.28$1.54$0.68$0.58$1.85
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$3.2B$3.0B$3.0B$3.3B$3.4B$3.5B$3.5B$3.9B$4.1B$4.2B$4.1B$4.5B
Operating Expenses$2.9B$2.9B$2.7B$3.1B$3.1B$3.1B$3.0B$3.3B$3.5B$3.5B$3.5B$3.8B
Operating Profit$236.0M$78.0M$254.0M$186.0M$302.0M$393.0M$445.0M$573.0M$589.0M$698.0M$639.0M$698.0M
Operating Margin7.4%2.6%8.5%5.7%8.9%11.2%12.9%14.8%14.4%16.6%15.4%15.5%
Interest$82.0M$90.0M$83.0M$84.0M$83.0M$79.0M$82.0M$83.0M$78.0M$93.0M$92.0M$94.0M
Profit Before Tax$217.0M$-38.0M$296.0M$172.0M$-92.0M$437.0M$240.0M$584.0M$550.0M$678.0M$529.0M$649.0M
Tax$16.1M$26.3M$24.0M$29.1M$-3.3M$22.2M$22.9M$14.4M$14.6M$13.4M$22.9M$6.2M
Net Profit$164.0M$-40.0M$209.0M$104.0M$-117.0M$310.0M$157.0M$469.0M$430.0M$540.0M$371.0M$559.0M
EPS$0.19$-0.05$0.24$0.12$-0.14$0.36$0.18$0.54$0.50$0.63$0.43$0.64

Over the 10 years reported for Corning Incorporated, borrowings increased from $3.9B in 2016 to $10.2B in 2025, cash stood at $1.5B in the latest year, shareholders' equity was $924.0M, current assets covered current liabilities 1.59 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$27.9B$27.5B$27.5B$28.9B$30.8B$30.2B$29.5B$28.5B$27.7B$31.0B
Current Assets$9.0B$8.8B$7.0B$7.5B$8.0B$7.7B$7.5B$7.2B$8.0B$8.9B
Cash$5.3B$4.3B$2.4B$2.4B$2.7B$2.1B$1.7B$1.8B$1.8B$1.5B
Inventory$1.5B$1.7B$2.0B$2.3B$2.4B$2.5B$2.9B$2.7B$2.7B$3.1B
Receivables$1.5B$1.8B$1.9B$1.8B$2.1B$2.0B$1.7B$1.6B$2.1B$2.8B
Fixed Assets$12.5B$14.0B$14.9B$15.3B$16.4B$16.5B$16.2B$15.5B$14.2B$15.7B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$336.0M$340.0M$376.0M$334.0M$435.0M$318.0M$360.0M$414.0M$394.0M$1.0B
Other Assets$1.6B$1.7B$1.9B$1.9B$2.5B$2.4B$2.4B$2.4B$2.4B$2.5B
Total Liabilities$9.9B$11.7B$13.6B$15.9B$17.3B$17.6B$17.2B$16.6B$16.7B$18.7B
Current Liabilities$2.8B$3.2B$3.3B$3.5B$3.8B$4.8B$5.2B$4.3B$4.9B$5.6B
Borrowings$3.9B$5.1B$6.0B$8.3B$8.7B$7.8B$7.8B$8.5B$8.1B$10.2B
Other Liabilities$6.0B$6.6B$7.6B$7.6B$8.6B$9.8B$9.4B$8.1B$8.6B$8.4B
Equity$846.0M$854.0M$857.0M$859.0M$863.0M$907.0M$910.0M$916.0M$921.0M$924.0M
Reserves$17.9B$15.7B$13.8B$12.9B$13.3B$12.3B$12.0B$11.6B$10.7B$11.8B

For Corning Incorporated, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $1.4B; free cash flow was positive in 10 of 10 years; financing activities used $248.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$2.5B$2.0B$2.9B$2.0B$2.2B$3.4B$2.6B$2.0B$1.9B$2.7B
Investing Cash Flow$2.6B$-3.5B$-5.1B$-3.9B$-2.7B$-3.1B$-3.0B$-2.4B$-1.7B$-2.5B
Financing Cash Flow$-4.6B$-2.2B$-2.2B$-836.0M$-64.0M$-743.0M$-757.0M$-610.0M$-64.0M$-248.0M
Net Cash Flow$791.0M$-974.0M$-2.0B$79.0M$238.0M$-524.0M$-477.0M$108.0M$-11.0M$-202.0M
Free Cash Flow$1.4B$200.0M$677.0M$44.0M$803.0M$1.8B$1.0B$615.0M$974.0M$1.4B

Valuation & Return Ratios

MetricValue
PEG Ratio0.54
EV / EBITDA36.83
FCF Yield1.75%
Quick Ratio1.24
Interest Coverage7.35
Return 1Y45.35%
Return 3Y390.33%
Return 5Y289.72%

Corning Incorporated (GLW) financials — frequently asked questions

What is Corning Incorporated's annual revenue?

Corning Incorporated (GLW) reported annual revenue of $15.6B in its most recent fiscal year.

What is Corning Incorporated's net profit?

Corning Incorporated (GLW) reported net profit of $1.6B in its most recent fiscal year.

What is GLW EV/EBITDA?

Corning Incorporated's enterprise value to EBITDA (EV/EBITDA) ratio is 36.83.

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