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. 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $15.6B | $3.7B | $1.6B | $1.4B | 13.5% | 19.1% | 215.4% |
| 2024 | $13.1B | $2.5B | $506M | $974M | 4.7% | 4.2% | -12.9% |
| 2023 | $12.6B | $2.5B | $581M | $615M | 5.0% | -11.3% | -55.9% |
| 2022 | $14.2B | $3.5B | $1.3B | $1.0B | 11.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 14,189 | 12,588 | 13,118 | 15,629 |
| Operating Revenue | - | 14,189 | 12,588 | 13,118 | 15,629 |
| Cost Of Revenue | - | 9,683 | 8,657 | 8,842 | 10,008 |
| Gross Profit | - | 4,506 | 3,931 | 4,276 | 5,621 |
| Operating Expense | - | 3,068 | 3,041 | 3,141 | 3,342 |
| Research And Development | - | 1,047 | 1,076 | 1,089 | 1,110 |
| Selling General And Administration | - | 1,898 | 1,843 | 1,931 | 2,122 |
| Total Expenses | - | 12,751 | 11,698 | 11,983 | 13,350 |
| Operating Income | - | 1,438 | 890 | 1,135 | 2,279 |
| Total Operating Income As Reported | - | 1,438 | 890 | 1,135 | 2,279 |
| EBITDA | - | 3,541 | 2,514 | 2,492 | 3,735 |
| Normalized EBITDA | - | 3,190 | 2,353 | 2,409 | 3,585 |
| EBIT | - | 2,089 | 1,145 | 1,142 | 2,388 |
| Interest Income | - | 15 | 38 | 47 | 38 |
| Interest Expense | - | 292 | 329 | 329 | 336 |
| Net Interest Income | - | -277 | -291 | -282 | -298 |
| Other Non Operating Income Expenses | - | 285 | 56 | -123 | -79 |
| Other Income Expense | - | 636 | 217 | -40 | 71 |
| Interest Income Non Operating | - | 15 | 38 | 47 | 38 |
| Interest Expense Non Operating | - | 292 | 329 | 329 | 336 |
| Net Non Operating Interest Income Expense | - | -277 | -291 | -282 | -298 |
| Pretax Income | - | 1,797 | 816 | 813 | 2,052 |
| Tax Provision | - | 411 | 168 | 221 | 310 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 80.28 | 33.17 | 22.56 | 22.66 |
| Net Income Continuous Operations | - | 1,386 | 648 | 592 | 1,742 |
| Net Income From Continuing And Discontinued Operation | - | 1,316 | 581 | 506 | 1,596 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,316 | 581 | 506 | 1,596 |
| Net Income | - | 1,316 | 581 | 506 | 1,596 |
| Net Income Common Stockholders | - | 1,316 | 581 | 506 | 1,596 |
| Net Income Including Noncontrolling Interests | - | 1,386 | 648 | 592 | 1,742 |
| Normalized Income | - | 1,045.28 | 453.17 | 445.56 | 1,468.66 |
| Diluted NI Availto Com Stockholders | - | 1,316 | 581 | 506 | 1,596 |
| Basic Average Shares | - | 843 | 848 | 853 | 855 |
| Diluted Average Shares | - | 857 | 859 | 869 | 871 |
| Reconciled Depreciation | - | 1,452 | 1,369 | 1,350 | 1,347 |
| Reconciled Cost Of Revenue | - | 8,354 | 7,410 | 7,613 | 8,771 |
| Total Unusual Items | - | 351 | 161 | 83 | 150 |
| Total Unusual Items Excluding Goodwill | - | 351 | 161 | 83 | 150 |
| Preferred Stock Dividends | 24 | - | - | - | - |
| Minority Interests | - | -70 | -67 | -86 | -146 |
| Gain On Sale Of Security | - | 351 | 161 | 83 | 150 |
| Depreciation Amortization Depletion Income Statement | - | 123 | 122 | 121 | 110 |
| Depreciation And Amortization In Income Statement | - | 123 | 122 | 121 | 110 |
| Otherunder Preferred Stock Dividend | 803 | - | - | - | - |
| Earnings From Equity Interest | 35 | - | - | - | - |
| Amortization | - | 123 | 122 | 121 | 110 |
| Amortization Of Intangibles Income Statement | - | 123 | 122 | 121 | 110 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Corning Incorporatedthis co. | GLW | $170.1B | 106.61β premium | 14.41 | 13.5% | 47.66 |
| Arista Networks, Inc. | ANET | $209.0B | 59.53 | 16.90 | 28.4% | 50.48 |
| Analog Devices, Inc. | ADI | $208.8B | 92.11 | 6.18 | 6.7% | 42.76 |
| Western Digital Corporation | WDC | $198.4B | 107.81 | 35.81 | 33.2% | 103.70 |
| CrowdStrike Holdings, Inc. | CRWD | $183.1B |
| - |
| - |
| - |
| - |
| - |
| -1126.48 |
| 41.34 |
| -3.7% |
| 978.97 |
| Amphenol Corporation | APH | $180.6B | 42.28 | 13.46 | 31.8% | 26.84 |
| Salesforce, Inc. | CRM | $154.6B | 20.73 | 2.61 | 12.6% | 13.10 |
| Shopify Inc. | SHOP | $150.6B | 122.32 | 11.18 | 9.1% | 77.89 |
| Uber Technologies, Inc. | UBER | $147.0B | 14.62 | 5.44 | 37.2% | 21.75 |
| Peer Median | - | 50.91 | 12.32 | 20.5% | 46.62 | |