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Corning Inc (GLW) operating KPIs

GLWNYSEDrawing & Insulating of Nonferrous WireFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 16/3073% above fair value
$123.31−5.57 (-4.32%)

Close on Oct 30, 2026Market cap $106.22BP/E 49.9Yield 0.91%

KPIs

Operating metrics that drive Corning's business · fiscal year ends December 31

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Add to chartMetric
Q4 '26
2026-12-31
Q3 '26
2026-09-30
Q2 '26
2026-06-30
Q1 '26
2026-03-31
Q4 '25
2025-12-31
Q3 '25
2025-09-30
Q2 '25
2025-06-30
Q1 '25
2025-03-31
Q4 '24
2024-12-31
Q3 '24
2024-09-30
Q2 '24
2024-06-30
Q1 '24
2024-03-31
Optical Communications — Segment Net Sales($M)7
2,3792,0721,8461,7011,6521,5661,3551,3681,2461,113930
Enterprise Network — Net Sales (Data Center & Gen AI Optical Interconnect)($M)
1,5251,269962890831769705686525426342
Carrier Network — Net Sales (Telecom, FTTH & Data Center Interconnect / DCI)($M)
854803884811821797650682721687588
Optical Communications — Segment Net Income($M)
532438387305295247201194175143100
Optical Communications — Segment RD&E Expenses($M)
92858075767772716665
Optical Communications — Segment Depreciation($M)
77727166696566696666
Optical Communications — Segment Income Tax Expense($M)
1271108985725856494128
Optical Communications — Other Segment Items($M)
1,3381,1921,1561,1311,102954980882797671
Glass Innovations — Segment Net Sales (Display + Specialty Materials)($M)7
1,5061,4631,4201,4991,5601,4431,4061,4861,5631,5151,326
Glass Innovations — Segment Net Income($M)
328354324356363324317343357321245
Glass Innovations — Segment RD&E Expenses($M)
92849694929294988586
Glass Innovations — Segment Depreciation($M)
150150154142147137148149150152
Glass Innovations — Segment Income Tax Expense($M)
93859395858488958564
Glass Innovations — Other Segment Items($M)
774777800866795776813864874779
Display Technologies — Segment Net Sales (legacy standalone through Q4 '25)($M)4
9559398989059711,0151,014872
Specialty Materials — Segment Net Sales (Gorilla Glass & Advanced Optics, legacy through Q4 '25)($M)4
544621545501515548501454
Automotive — Segment Net Sales (Substrates, GPF, Heavy-Duty Diesel & Auto Glass)($M)7
470471437440454460440446430479491
Auto, Glass and Other — Sub-Segment Net Sales (Light-Duty Substrates, GPF & Automotive Glass Solutions)($M)
310318301323327311305325312318324
Heavy-Duty Diesel — Sub-Segment Net Sales (Commercial Truck & Off-Road Emission Control)($M)
160153136117127149135121118161167
Automotive — Segment Net Income($M)
6782706368796861517178
Automotive — Segment RD&E Expenses($M)
36363838353541434138
Automotive — Segment Depreciation($M)
39404140414143444443
Automotive — Segment Income Tax Expense($M)
22181718211816141921
Automotive — Other Segment Items($M)
292273281290284278285278304311
Solar — Segment Net Sales (Hemlock Semiconductor Polysilicon & U.S. Solar Wafers / Modules)($M)5
436438370475319231206256194199216
Solar — Segment Net Income (Loss)($M)
-7-77303022746313436
Solar — Segment RD&E Expenses($M)
3222422522
Solar — Segment Depreciation($M)
77443029261716171616
Solar — Segment Income Tax Expense (Benefit)($M)
26131431117121213
Solar — Other Segment Items($M)
363311400244196149175129135149
Life Sciences and Emerging Growth Businesses — Segment Net Sales($M)7
290294272297287345272318300298295
Life Sciences and Emerging Growth Businesses — Segment Net Income (Loss)($M)
-28-21-24-15-156-30-18-4-14-6
Life Sciences and Emerging Growth Businesses — Segment RD&E Expenses($M)
27282724263032312825
Life Sciences and Emerging Growth Businesses — Segment Depreciation($M)
23262627272928292928
Life Sciences and Emerging Growth Businesses — Segment Income Tax Benefit($M)
-6-7-5-51-9-5-3-5-1
Life Sciences and Emerging Growth Businesses — Other Segment Items($M)
271249264256285252281247260249
Life Sciences (Standalone) — Segment Net Sales (legacy through Q4 '25)($M)1
246242250234250244249236
Hemlock and Emerging Growth Businesses — Segment Net Sales (legacy through Q4 '25)($M)1
526364326244324250248275
Core Net Sales (Non-GAAP Constant-Currency / Hedged-Rate Revenue)($M)9
5,0814,7384,3454,4124,2724,0453,6793,8743,7333,6043,258
Core Gross Margin ($M)($M)1
2,0591,8741,7001,6821,6641,5521,3951,4941,4631,3661,200
Core Gross Margin (% of Core Net Sales)(%)
40.5%39.6%39.1%38.1%39.0%38.4%37.9%38.6%39.2%37.9%36.8%
Core SG&A Expenses ($M)($M)1
592590546507550508463501496477441
Core SG&A (% of Core Net Sales)(%)
11.7%12.5%12.6%11.5%12.9%12.6%12.6%12.9%13.3%13.2%14.0%
Core RD&E Expenses ($M)($M)1
315295278284276274271276285262255
Core RD&E (% of Core Net Sales)(%)
6.2%6.2%6.4%6.4%6.5%6.8%7.4%7.1%7.6%7.3%8.0%
Core Operating Income ($M)($M)1
1,152989876891838770661717682627504
Core Operating Margin (% of Core Net Sales)(%)
22.7%20.9%20.2%20.2%19.6%19.0%18.0%18.5%18.3%17.4%15.5%
Core Gross Equity Earnings ($M)($M)
3-348332117139
Core Profit Before Taxes ($M)($M)
1,057898797819779689616660602548436
Core Effective Tax Rate (%)(%)
18.5%18.5%18.5%18.1%19.5%19.5%19.5%20.1%19.1%22.0%20.2%
Core Net Income Attributable to Corning Incorporated ($M)($M)
795680612624585523467497465407330
Core Diluted Earnings Per Share ($)($)1
0.910.780.700.720.670.600.540.570.540.470.38
Core Weighted-Average Diluted Shares Outstanding (M)(M)
871875871868868865866866865864862
Adjusted Free Cash Flow ($M)($M)2
6611,423188732535451-1409553353-62
Adjusted Cash Flows from Operating Activities ($M)($M)
1,2061,8455121,164869759207663770595190
Realized Gains on Translated Earnings Contracts & Other ($M)($M)
14512815011285515640717494
Core Return on Invested Capital — Core ROIC (%)(%)2
16.7%14.9%13.5%14.2%13.4%13.1%11.6%12.7%11.8%11.0%8.6%
Annualized Tax-Adjusted Core Operating Return ($M, Numerator = Qtr × 4)($M)3
3,7643,2162,8682,9442,7082,4882,1362,3282,2281,9961,636
Core Operating Income — Tax Adjusted ($M)($M)
941804717736677622534582557499409
Core EBIT (Core Operating Income + Core Equity Earnings, $M)($M)
1,155986880899841773663728689640513
Tax on Core EBIT ($M)($M)
214182163163164151129146132141104
Total Invested Capital ($M, Denominator = Equity + Debt)($M)2
22,48821,55121,32220,74120,22419,04518,36518,28118,87518,21118,927
Invested Capital: Total Stockholders' Equity ($M)($M)
14,28813,12712,34912,30712,00511,54511,12811,07011,46710,92711,559
Invested Capital: Total Short- and Long-Term Debt ($M)($M)
8,2008,4248,9738,4348,2197,5007,2377,2117,4087,2847,368
Next-Quarter Core Net Sales Guidance — Low / Point ($M)($M)3
5,2004,9004,6004,2004,3504,2003,8503,6003,7503,7003,4003,100
Next-Quarter Core Net Sales Guidance — High End ($M)($M)
5,3005,0004,6004,3004,3504,2003,8503,6003,7503,7003,4003,100
Next-Quarter Core Diluted EPS Guidance — Low End ($)($)
0.960.850.730.660.680.630.550.480.530.500.420.32
Next-Quarter Core Diluted EPS Guidance — High End ($)($)
10.890.770.700.720.670.590.520.570.540.460.38
Japanese Yen (JPY per USD) — Core / Hedge Rate Applied to Segment Results(×)7
120.00120.00120.00120.00120.00120.00120.00107.00107.00107.00107.00
South Korean Won (KRW per USD) — Core / Hedge Rate(×)
1,266.001,269.001,250.001,250.001,250.001,250.001,250.001,175.001,175.001,175.001,175.00
Chinese Yuan (CNY per USD) — Core / Hedge Rate(×)
6.806.806.906.906.906.906.906.706.706.706.70
New Taiwan Dollar (TWD per USD) — Core / Hedge Rate(×)
31.0031.0031.0031.0031.0031.0031.0031.0031.0031.0031.00
Mexican Peso (MXN per USD) — Core / Hedge Rate(×)
21.0020.0021.0021.0021.0021.0021.0020.0020.0020.0020.00
Euro (EUR per USD) — Core / Hedge Rate(×)
0.870.880.880.880.880.880.880.810.810.810.81
Translated Earnings & FX Derivative Contracts — Total Gross Notional ($M)($M)1
19,55218,47817,06315,86417,89716,26613,52311,9868,3378,406
Translated Earnings Contracts — Gross Notional ($M)($M)
14,26113,10410,81610,90212,33111,3369,8178,6605,4375,390
Translated Earnings Contract Net Pre-Tax Gain (Loss) ($M)($M)
13890-1633131-101
Customer Deposits and Government Incentives — Operating Cash Flow Inflow ($M)($M)1
-70880-171317-9259-16-54667-25
Customer Deposits & Contract Liabilities (Deferred Revenue) — Total Balance Sheet Liability ($M)($M)3
2,7001,3002,3001,1001,1001,1001,1001,2001,2001,100
Customer Deposits & Contract Liabilities — Current ($M)($M)
465183386177169170127179178164
Customer Deposits & Contract Liabilities — Noncurrent ($M)($M)
2,2441,1361,8848878968859831,009986977
Deferred Income — Operating Cash Flow Inflow (Outflow) ($M)($M)
-43-64-3850-38-41-29-50
Total Inventories, Net ($M)($M)4
3,6463,4263,2793,0773,1043,0842,8962,7242,7932,6822,713
Finished Goods Inventory ($M)($M)
1,4781,4201,3831,4211,4791,4191,3231,3541,3031,287
Work in Process (WIP) Inventory ($M)($M)
688697618564550552547566546555
Raw Materials and Accessories Inventory ($M)($M)
703627564605564461413457426446
Supplies and Accessories Inventory (Precious Metals & Spare Parts, $M)($M)
557535512514491464441416407425
Property, Plant and Equipment — Gross ($M, including Precious Metals Pool)2
Accumulated Depreciation — PP&E ($M)($M)
-15,460-15,162-15,229-15,171-15,020-14,523-14,492-15,140-14,562-14,439
Property, Plant and Equipment — Net ($M)($M)
14,92714,78514,82514,39713,88113,36013,35914,05913,74214,199
Pollution Control Facilities — Capital Expenditures ($M)2
Active Superfund / Hazardous Waste Remediation Sites (Count)
21202020202020191919
Undiscounted Environmental Remediation Reserve ($M)($M)
85878991929478818386
U.S. Industrial Production: Communications Equipment Index (FRED IPG3342S, 2017=100)(×)3
232.79228.57223.70215.58202.36212.80218.25212.74210.92199.55197.44
U.S. Light Weight Vehicle Sales — Seasonally Adjusted Annual Rate (FRED ALTSALES, Millions)(M)
16.216.515.515.816.516.216.516.515.615.715.6
U.S. Heavy Weight Truck Sales — Seasonally Adjusted Annual Rate (FRED HTRUCKSSAAR, Millions)(M)
0.410.420.380.360.400.450.460.480.490.470.49
Henry Hub Natural Gas Spot Price (FRED MHHNGSP, $/MMBtu — Glass Melting Energy Input)($)
2.872.954.793.753.033.194.152.442.112.092.13
Platinum Benchmark Price ($/oz, NYMEX PL=F — Glass Melting Refractory Metal)($)3
1,7271,9162,1991,6911,3931,068979966964982908
Palladium Benchmark Price ($/oz, NYMEX PA=F — Catalytic Emission Control Metal)($)
1,3031,4111,7171,4941,1839889641,006961968974
Copper Benchmark Price ($/lb, COMEX HG=F — Data Center & Telecom Interconnect Metal)($)
6.486.165.805.154.834.724.574.224.234.553.86
VanEck Steel & Industrial Metals ETF Benchmark (SLX, $/share)($)
10510493.8179.4270.5161.7261.8067.7566.5769.8370.17
Consolidated GAAP Net Sales ($M, by Geographic Region & Country)($M)
4,5054,1444,2154,1003,8623,4523,5013,3913,2512,975
Consolidated GAAP Gross Profit ($M)($M)8
1,6281,5281,4951,5201,3921,2141,1971,137949993
Cost of Sales ($M)($M)
2,8772,6162,7202,5802,4702,2382,3042,2542,3021,982
Selling, General and Administrative Expenses ($M)($M)
608588512624515471499510471451
Research, Development and Engineering Expenses ($M)($M)
314299278284280276270275294262258
Consolidated GAAP Operating Income ($M)($M)
698639672589573445393302186254
Interest Expense ($M)($M)
94929378838279838483
Consolidated GAAP Income Before Income Taxes ($M)($M)
649529678550584240437-92172296
Provision for Income Taxes ($M)($M)
40121918084559735071
GAAP Net Income Attributable to Corning Incorporated ($M)($M)
559371540430469157310-117104209
GAAP Cash Flows from Operating Activities ($M)($M)3
1,7173621,05278470815162369952196
Consolidated Depreciation ($M)($M)
371368334324310312291305310307307
Consolidated Capital Expenditures ($M)($M)
545422332432334308208254217242252
Common and Preferred Dividends Paid ($M)($M)
262492242227241485244234242486242
Total Consolidated Assets ($M)($M)7
32,95631,25330,97629,91628,74527,39427,73528,32227,17927,618
Cash and Cash Equivalents ($M)($M)
2,5041,7551,5261,6481,4911,3591,7681,6131,4191,365
Trade Accounts Receivable, Net ($M)($M)
2,9322,6762,7792,5092,2982,0452,0531,9861,7211,621
Goodwill ($M)($M)
2,4762,4792,4892,4892,4922,3712,3632,3902,3652,370
Other Intangible Assets, Net ($M)($M)
610632657684711732752814836871
Current Portion of Long-Term Debt and Short-Term Borrowings ($M)($M)
6681,255804812786283326335376318
Long-Term Debt ($M)($M)
7,7567,7187,6307,4076,7146,9546,8857,0736,9087,050
Total Corning Incorporated Stockholders' Equity ($M)($M)
12,56011,81211,80711,53611,11610,71610,68611,10310,58511,226

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics
  • Fiscal calendar: Corning Incorporated's fiscal year is the calendar year ending December 31 (Q1 = Jan–Mar, Q2 = Apr–Jun, Q3 = Jul–Sep, Q4 = Oct–Dec). Latest reported quarter: Q3 '26 (ended September 30, 2026; Form 8-K and Q3 '26 Investor Presentation filed October 27, 2026). Latest filed Form 10-Q: Q2 '26 (filed August 4, 2026); latest filed Form 10-K: FY2025 (filed February 17, 2026).
  • Q1 2025 & Q1 2026 Segment Realignments: Effective Q1 2025, Corning moved Automotive Glass Solutions ($181M in FY24) out of Hemlock and Emerging Growth Businesses into Environmental Technologies to form the Automotive segment. Effective Q1 2026, Corning combined Display ($3,697M in FY25) and Specialty Materials ($2,211M in FY25) into Glass Innovations ($5,908M in FY25), elevated Solar ($1,231M in FY25; Hemlock Semiconductor polysilicon + U.S. solar wafers/modules) into a standalone reportable segment, and combined Life Sciences ($972M in FY25) with Emerging Growth Businesses ($229M in FY25) into Life Sciences and Emerging Growth Businesses ($1,201M in FY25). Full quarterly recasts from Q1 '23 through Q4 '25 were filed on Form 8-K on April 22, 2025 and April 21, 2026.
  • Sub-Segment Primary Keys (23 consecutive quarters, Q1 '21–Q3 '26): Optical Communications is decomposed into Enterprise Network ($1,525M in Q3 '26, +84% YoY on Gen AI data center optical interconnect demand) and Carrier Network ($854M in Q3 '26). Automotive is decomposed into Auto, Glass and Other ($310M in Q3 '26) and Heavy-Duty Diesel ($160M in Q3 '26).
  • Non-GAAP Core Performance & FX Hedging: Corning reports Core Net Sales, Core Operating Income, Core Net Income, Core EPS, Adjusted Free Cash Flow, and Core ROIC (16.7% in Q3 '26 vs. 8.8% in Q4 '23). Effective January 1, 2025, Corning reset its JPY Core Rate from ¥107/USD to ¥120/USD; effective April 1, 2026 (Q2 '26), Corning prospectively replaced constant-currency reporting with an Adjustment for Hedged Exposures.
  • Consolidated vs. Standalone Assessment (Step 3 & Step 4): Under U.S. GAAP, Corning omits parent-only Schedule I financial statements in Form 10-K (restricted net assets of subsidiaries are below the 25% threshold), and its 80.5%-owned subsidiary Hemlock Semiconductor Group is consolidated directly within the Solar segment (with standalone revenue of $723M in FY23, $865M in FY24, $1,231M in FY25, and $1,244M in 9M '26). Therefore, no consolidated − parent subtraction is performed; only the 2 permitted period-split derivations (`Q4 = full year (10-K) − nine months (10-Q)` and `quarter = year-to-date − previous year-to-date (cash flow statement)`) are displayed in italic.

Not shown because recent periods are missing (11)

  • 6. Geographic Revenue, Long-Lived Assets by Country & Consolidated GAAP Financial Context (DB + SEC XBRL) › Consolidated GAAP Gross Profit ($M) › Restructuring, Impairment and Other Charges and Credits ($M)
  • 6. Geographic Revenue, Long-Lived Assets by Country & Consolidated GAAP Financial Context (DB + SEC XBRL) › Consolidated GAAP Gross Profit ($M) › Equity in Earnings (Losses) of Affiliated Companies ($M)
  • 6. Geographic Revenue, Long-Lived Assets by Country & Consolidated GAAP Financial Context (DB + SEC XBRL) › Consolidated GAAP Gross Profit ($M) › GAAP Diluted Earnings Per Share ($)
  • 6. Geographic Revenue, Long-Lived Assets by Country & Consolidated GAAP Financial Context (DB + SEC XBRL) › Consolidated GAAP Gross Profit ($M) › GAAP Diluted Weighted-Average Shares (M)
  • 6. Geographic Revenue, Long-Lived Assets by Country & Consolidated GAAP Financial Context (DB + SEC XBRL) › GAAP Cash Flows from Operating Activities ($M) › Cash Dividends Declared per Common Share ($)
  • 6. Geographic Revenue, Long-Lived Assets by Country & Consolidated GAAP Financial Context (DB + SEC XBRL) › GAAP Cash Flows from Operating Activities ($M) › Repurchases of Common Stock for Treasury ($M)
  • FX Exposure Hedged % by Currency (JPY, MXN, CNY, KRW, EUR, TWD) — introduced in Q2 2026 Form 8-K alongside the new Adjustment for Hedged Exposures (only 2 consecutive quarters disclosed: Q2 '26 and Q3 '26; <3 quarters required by Step 5)
  • Patent Portfolio — Total Unexpired Patents & Patent Applications prior to FY2018 — narrative format changed in FY2018/FY2022 10-K
  • Workforce Unionization % ('more than 66% of employees in the U.S. are covered by collective bargaining agreements') — disclosed only as a one-sided lower bound ('more than 66%'), excluded per Step 5 bound rule
  • Springboard Multiyear Agreement with Meta ('up to $6 billion through 2030') — disclosed as an upper bound ('up to $6B'), excluded from cell values per Step 5 bound rule
  • Customer Concentration >=10% of Consolidated Revenue (Form 10-K Note 18) — only 1 unnamed Optical customer reached 10% in FY2025 and 1 Display customer in FY2024; replaced on table by the 9-year continuous Segment Customer Concentration table from Item 1A (FY2017–FY2025)

Data updated 2026-10-28.

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