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GLW - Corning Incorporated

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Corning Incorporated

GLW

NYSE

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. 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.

45.76 USD

0.98 (2.14%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

11.3B

14.08B

14.19B

12.59B

13.12B

13.72B

14.34B

15B

15.68B

16.4B

Revenue %

-

24.59

0.76

-11.28

4.21

4.57

4.57

4.57

4.57

Ebitda

2.87B

3.77B

3.36B

2.51B

2.49B

3.15B

3.29B

3.44B

3.6B

3.76B

Ebitda %

25.35

26.8

23.66

19.97

19

22.95

22.95

22.95

22.95

Ebit

1.34B

2.29B

1.91B

1.15B

1.14B

1.63B

1.7B

1.78B

1.86B

1.95B

Ebit %

11.9

16.28

13.43

9.1

8.71

11.88

11.88

11.88

11.88

Depreciation

1.52B

1.48B

1.45B

1.37B

1.35B

1.52B

1.59B

1.66B

1.74B

1.82B

Depreciation %

13.45

10.52

10.23

10.88

10.29

11.07

11.07

11.07

11.07

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

2.67B

2.15B

1.67B

1.78B

1.77B

2.15B

2.25B

2.35B

2.46B

2.57B

Total Cash %

23.64

15.25

11.78

14.13

13.48

15.66

15.66

15.66

15.66

Receivables

2.13B

2B

1.72B

1.57B

2.05B

2.01B

2.1B

2.2B

2.3B

2.41B

Receivables %

18.87

14.23

12.13

12.49

15.65

14.67

14.67

14.67

14.67

Inventories

2.44B

2.48B

2.9B

2.67B

2.72B

2.79B

2.91B

3.05B

3.19B

3.33B

Inventories %

21.57

17.62

20.47

21.18

20.77

20.32

20.32

20.32

20.32

Payable

1.17B

1.61B

1.8B

1.47B

1.47B

1.58B

1.65B

1.72B

1.8B

1.88B

Payable %

10.39

11.45

12.71

11.65

11.22

11.48

11.48

11.48

11.48

Cap Ex

-1.38B

-1.64B

-1.6B

-1.39B

-965M

-1.47B

-1.54B

-1.61B

-1.68B

-1.76B

Cap Ex %

-12.18

-11.62

-11.3

-11.04

-7.36

-10.7

-10.7

-10.7

-10.7

Weighted Average Cost Of Capital

Price

45.76

Beta

Diluted Shares Outstanding

869M

Costof Debt

4.07

Tax Rate

After Tax Cost Of Debt

2.53

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

8.09B

Total Equity

39.77B

Total Capital

47.86B

Debt Weighting

16.91

Equity Weighting

83.09

Wacc

7.77

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

11.3B

14.08B

14.19B

12.59B

13.12B

13.72B

14.34B

15B

15.68B

16.4B

Ebitda

2.87B

3.77B

3.36B

2.51B

2.49B

3.15B

3.29B

3.44B

3.6B

3.76B

Ebit

1.34B

2.29B

1.91B

1.15B

1.14B

1.63B

1.7B

1.78B

1.86B

1.95B

Tax Rate

37.76

37.76

37.76

37.76

37.76

37.76

37.76

37.76

37.76

37.76

Ebiat

1.11B

1.82B

1.4B

815.25M

710.77M

1.2B

1.26B

1.31B

1.37B

1.44B

Depreciation

1.52B

1.48B

1.45B

1.37B

1.35B

1.52B

1.59B

1.66B

1.74B

1.82B

Receivables

2.13B

2B

1.72B

1.57B

2.05B

2.01B

2.1B

2.2B

2.3B

2.41B

Inventories

2.44B

2.48B

2.9B

2.67B

2.72B

2.79B

2.91B

3.05B

3.19B

3.33B

Payable

1.17B

1.61B

1.8B

1.47B

1.47B

1.58B

1.65B

1.72B

1.8B

1.88B

Cap Ex

-1.38B

-1.64B

-1.6B

-1.39B

-965M

-1.47B

-1.54B

-1.61B

-1.68B

-1.76B

Ufcf

-2.15B

2.19B

1.3B

843.25M

562.77M

1.33B

1.16B

1.21B

1.27B

1.33B

Wacc

7.77

7.77

7.77

7.77

7.77

Pv Ufcf

1.24B

1B

970.37M

941.54M

913.57M

Sum Pv Ufcf

5.06B

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

7.77

Free Cash Flow T1

1.38B

Terminal Value

36.66B

Present Terminal Value

25.22B

Intrinsic Value

Enterprise Value

30.28B

Net Debt

6.32B

Equity Value

23.96B

Diluted Shares Outstanding

869M

Equity Value Per Share

27.57

Projected DCF

27.57 -0.66%

DCF Levered

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