Corning Incorporated (GLW) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Corning Incorporated stock $33.72, price $103, that is 67.4% below the price, quality 67 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Our calculation puts a fair price 67% below what the stock costs today.
Quality 67/100
Healthy Growth(revenue 5y +6.7 %/yr in USD)
Solidly profitable · 12.1% net margin (TTM)
Generates free cash flow
0.3% dividend yield · Well covered
Wide moat70/100
Positive coverage
Broad data
Last quarter vs. a year ago: revenue +18%, profit +56%.
Moderate debt
Mixed vs. peers(7/15)
Insiders sold $54.8M (6M)
Fair value $33.72 · Strongly overvalued (−67.4%)
Risks from the AI analysis
🚩Price drop: Doubts over sustainability of AI capital spending and concentration-driven overvaluation🚩Dependence on few hyperscale customers🚩Trade barriers in China for fiber products
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $24.97 – $255.21 · fair‑value band $18.75 – $51.47 · the $103.43 price screens above the $33.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Corning Incorporated operates in optical communications, display, specialty materials, automotive, and life sciences businesses in the United States, Canada, Mexico, Japan, Taiwan, China, South Korea, Germany, and internationally.
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The company provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals.
It also offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.
In addition, it manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for markets, such as mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components.
Further, the company provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications, as well as technical glass and optic products and solutions for the interior and exterior of vehicles.
Additionally, it offers laboratory products, including plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Falcon, PYREX, and Axygen brands.
It also offers polysilicon products and pharmaceutical glass tubing and vials. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.
Stock analysis
Corning Incorporated (GLW) currently trades at $103.43, while our model-based Fair Value estimate is $33.72, 67% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $43.24 per share, and 0 of the 26 models we run sit above the $103.43 price.
Bear case: the Asset-Based group reads lowest at $6.74, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $18.75 (bear) to $51.47 (bull), the price of $103.43 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Corning Incorporated reported revenue of $15.6B in FY2025 versus $14.1B in FY2021, a compound +2.6%/yr. Reported net income was $1.6B in FY2025, compounding −4.3%/yr from FY2021.
Key figures
Market cap $89.1B Large · P/E ratio 41.9 · P/S ratio 5.03 · EPS (TTM) $2.47 · Dividend yield 0.3% · Net margin 12.1% · Return on equity 17.9% · Return on assets (EBIT) 5.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (medium confidence).
What moves the price
The share trades about 59% below its 52-week high and 33% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −24% fair-value upside, at −67%, GLW screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($6.74 to $66.76). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$18.75Fair Value $33.72Bull$51.47
Price $103.43 · Downside -67.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.86 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Plus 5 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+19.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
Start year 2020 (pandemic). Over 10 years: +5.5% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
−2.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.2%
Dividend (yield on the price)0.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.7% vs 0.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 15%
2025 sits 174% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+32.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+18.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +29.6% a year for the price and +16.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Specialty materials innovation supports a moderate moat and stable margins, yet cyclical exposure and average governance signals limit durability.
Main risk: A small number of large customers such as Meta and AT&T could negotiate lower prices or shift volumes, pressuring margins and revenue in the optical communications business.
Bull case: Corning could deepen long-term supply agreements with additional hyperscalers and expand capacity for advanced products to lock in demand and maintain pricing power despite customer concentration.
Bear case: If key customers consolidate purchasing power or face their own spending cuts, Corning might see reduced orders and margin compression in its largest growth segment while facing ongoing trade frictions abroad.
Corning's optical communications segment now drives nearly half its sales after jumping 44 percent year over year, fueled by generative AI products that more than doubled. This shift delivers strong margin expansion but ties future results tightly to continued hyperscaler spending on data centers. Our models see the shares as overvalued given the concentration. Will the business lock in durable AI-driven growth or suffer if capital spending slows?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electronic Components · 650 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside−67.4% · Bottom 25%
Profitability
Return on equity (12 months)17.9% · Top 25%
Return on assets5.2% · Above median
Net margin (12 months)12.1% · Above median
Operating margin (12 months)19.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)18.4% · Above median
Dividend yield (12 months)0.3% · Bottom 25%
Balance sheet
Debt / equity0.65× · Highest 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Corning Incorporated Fair Value". https://www.fairvalue-calculator.com/stock/GLW
Frequently asked questions
Is Corning Incorporated (GLW) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $33.72 versus a price of $103.43, about 67% lower (overvalued).
What is the fair value of GLW?
Our model-based fair value for Corning Incorporated is $33.72 (as of Nov 4, 2026), built from audited fundamentals. The current price: $103.43.
What is the quality score of GLW?
Corning Incorporated has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Corning Incorporated (GLW)?
Our model-based price target is the fair value of $33.72 (as of Nov 4, 2026) from 26 valuation models. Cautious scenario $18.75, optimistic scenario $51.47. It is a calculation from audited fundamentals, not an analyst target.
What is the Corning Incorporated stock forecast for 2026?
Our models put fair value at $33.72, about 67% lower versus a price of $103.43 (overvalued). Cautious scenario $18.75, optimistic scenario $51.47. The calculation is refreshed regularly with new filings.
What is the revenue of Corning Incorporated (GLW)?
Corning Incorporated reported trailing-twelve-month revenue of about $17.7B (latest available figure, as of Nov 4, 2026).
Does Corning Incorporated pay a dividend?
Corning Incorporated currently shows a dividend yield of 0.27% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Corning Incorporated (GLW)?
For today's price to be fair in a discounted-cash-flow model, Corning Incorporated would have to grow free cash flow by +32.7 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.7 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of GLW use?
Our models discount Corning Incorporated at 9.5 %: a base by market capitalisation (large), damped by beta 1.12, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Corning Incorporated that is +32.7 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Corning Incorporated (GLW) delivered so far?
Over the past 5 years revenue at Corning Incorporated grew +6.7 % a year. The price currently implies +32.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Corning Incorporated (GLW) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Corning Incorporated (+32.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Corning Incorporated (GLW)?
The free-cash-flow yield on the price is 1.56 %: that much free cash flow Corning Incorporated produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Corning Incorporated (GLW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Corning Incorporated it is $33.72 per share (as of Nov 4, 2026), against a price of $103.43. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Corning Incorporated stock overvalued or undervalued in 2026?
As of Nov 4, 2026, GLW trades above its calculated fair value: price $103.43, fair value $33.72, a gap of about −67% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GLW?
No. The price is what the market pays today ($103.43); the fair value is what the company's own numbers justify ($33.72). For Corning Incorporated the two are $69.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Corning Incorporated worth?
The market values Corning Incorporated at about $89.1B (market capitalisation, as of Nov 4, 2026). Per share that is $103.43; our models calculate a fair value of $33.72 per share.
What do the bullish and bearish scenarios say about GLW?
Our models span a range for Corning Incorporated: cautious scenario $18.75, base $33.72, optimistic $51.47 per share (as of Nov 4, 2026, price $103.43). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GLW?
Corning Incorporated trades at a price-to-earnings ratio of 41.9 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $33.72 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 27.3. Other multiples: PEG 0.8, P/B 7.6, P/S 5.0, EV/EBITDA 20.9.
What is the PEG ratio of GLW?
The PEG ratio of Corning Incorporated is 0.76 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Corning Incorporated (GLW)?
Balance-sheet figures for Corning Incorporated (as of Nov 4, 2026): return on equity 17.9%, debt of 0.65 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is GLW from its 52-week high?
Corning Incorporated trades at $103.43, about 59% below its 52-week high of $255.21 and 33% above the low of $77.62 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $33.72 is for.
Which stocks are comparable to Corning Incorporated?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Samsung Electro-Mechanics Co, TE Connectivity plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Corning Incorporated stock attractive at the current price?
The data as of Nov 4, 2026: price $103.43, calculated fair value $33.72 (−67%), Quality Score 67/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GLW calculated?
We run Corning Incorporated through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $33.72, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Corning Incorporated itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Corning Incorporated (GLW)?
The closing price on Nov 5, 2026 was $103.43. Our model-based fair value is $33.72, about 67% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Corning Incorporated right now?
The price sits above even our optimistic bull case ($51.47). The favourable scenario is already priced in. The model range is unusually wide ($18.75 to $51.47). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Corning Incorporated (GLW) come from?
Earnings per share at Corning Incorporated grew −6.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.2 %, EBIT margin −4.9 %, tax rate +0.3 %, residual (interest, one-offs) −10.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Corning Incorporated
How large is the market capitalisation of Corning Incorporated (GLW)?
The market capitalisation of Corning Incorporated is $89.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Corning Incorporated (GLW)?
The price-to-sales ratio of Corning Incorporated is 5.03 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Corning Incorporated (GLW)?
Earnings per share at Corning Incorporated are $2.47 (price ÷ EPS = P/E 41.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Corning Incorporated (GLW)?
The dividend yield of Corning Incorporated is 0.3% (payout 11.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Corning Incorporated (GLW)?
The net margin of Corning Incorporated is 12.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Corning Incorporated (GLW)?
The return on equity (ROE) of Corning Incorporated is 17.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Corning Incorporated (GLW)?
On an EBIT basis the return on assets of Corning Incorporated is 5.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Corning Incorporated (GLW)?
The operating margin of Corning Incorporated is 19.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Corning Incorporated (GLW)?
Revenue at Corning Incorporated is growing +18.4% versus a year earlier (3y avg +3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Corning Incorporated (GLW)?
Earnings per share at Corning Incorporated are growing +56.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Corning Incorporated (GLW) carry?
The net debt of Corning Incorporated is $8.7B (fiscal year 2025, ≈ 6.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 4, 2026