Intrinsic value of Corning - GLW

Previous Close

$34.85

  Intrinsic Value

$11.96

stock screener

  Rating & Target

str. sell

-66%

Previous close

$34.85

 
Intrinsic value

$11.96

 
Up/down potential

-66%

 
Rating

str. sell

We calculate the intrinsic value of GLW stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  3.06
  4.00
  4.10
  4.19
  4.27
  4.34
  4.41
  4.47
  4.52
  4.57
  4.61
  4.65
  4.69
  4.72
  4.75
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
Revenue, $m
  9,390
  9,766
  10,166
  10,592
  11,044
  11,524
  12,032
  12,570
  13,138
  13,739
  14,372
  15,041
  15,746
  16,489
  17,271
  18,095
  18,963
  19,876
  20,836
  21,847
  22,910
  24,027
  25,202
  26,438
  27,736
  29,101
  30,535
  32,042
  33,625
  35,289
  37,037
Variable operating expenses, $m
 
  7,347
  7,642
  7,956
  8,289
  8,642
  9,016
  9,412
  9,830
  10,272
  10,739
  11,073
  11,592
  12,139
  12,715
  13,322
  13,960
  14,632
  15,340
  16,084
  16,866
  17,689
  18,554
  19,463
  20,419
  21,424
  22,480
  23,589
  24,755
  25,980
  27,267
Fixed operating expenses, $m
 
  978
  1,002
  1,027
  1,053
  1,079
  1,106
  1,134
  1,162
  1,191
  1,221
  1,252
  1,283
  1,315
  1,348
  1,382
  1,416
  1,452
  1,488
  1,525
  1,563
  1,602
  1,642
  1,683
  1,726
  1,769
  1,813
  1,858
  1,905
  1,952
  2,001
Total operating expenses, $m
  7,999
  8,325
  8,644
  8,983
  9,342
  9,721
  10,122
  10,546
  10,992
  11,463
  11,960
  12,325
  12,875
  13,454
  14,063
  14,704
  15,376
  16,084
  16,828
  17,609
  18,429
  19,291
  20,196
  21,146
  22,145
  23,193
  24,293
  25,447
  26,660
  27,932
  29,268
Operating income, $m
  1,391
  1,441
  1,522
  1,609
  1,703
  1,803
  1,910
  2,024
  2,146
  2,275
  2,412
  2,716
  2,871
  3,034
  3,208
  3,392
  3,586
  3,791
  4,009
  4,238
  4,480
  4,736
  5,006
  5,291
  5,591
  5,908
  6,242
  6,594
  6,965
  7,357
  7,769
EBITDA, $m
  2,586
  2,718
  2,845
  2,981
  3,127
  3,282
  3,448
  3,623
  3,810
  4,008
  4,218
  4,441
  4,676
  4,925
  5,189
  5,467
  5,761
  6,071
  6,398
  6,743
  7,107
  7,491
  7,896
  8,322
  8,772
  9,245
  9,744
  10,269
  10,822
  11,404
  12,016
Interest expense (income), $m
  184
  160
  178
  196
  215
  236
  258
  281
  306
  332
  359
  388
  419
  451
  485
  521
  558
  598
  640
  684
  730
  778
  829
  883
  940
  999
  1,061
  1,127
  1,196
  1,268
  1,344
Earnings before tax, $m
  3,692
  1,280
  1,344
  1,413
  1,487
  1,567
  1,652
  1,743
  1,840
  1,943
  2,053
  2,328
  2,452
  2,584
  2,723
  2,871
  3,028
  3,193
  3,369
  3,554
  3,750
  3,958
  4,176
  4,408
  4,652
  4,909
  5,181
  5,467
  5,770
  6,089
  6,425
Tax expense, $m
  -3
  346
  363
  382
  402
  423
  446
  471
  497
  525
  554
  628
  662
  698
  735
  775
  817
  862
  910
  960
  1,013
  1,069
  1,128
  1,190
  1,256
  1,325
  1,399
  1,476
  1,558
  1,644
  1,735
Net income, $m
  3,695
  935
  981
  1,032
  1,086
  1,144
  1,206
  1,272
  1,343
  1,419
  1,499
  1,699
  1,790
  1,886
  1,988
  2,096
  2,210
  2,331
  2,459
  2,595
  2,738
  2,889
  3,049
  3,218
  3,396
  3,584
  3,782
  3,991
  4,212
  4,445
  4,690

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  5,291
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  27,899
  23,532
  24,496
  25,523
  26,613
  27,769
  28,993
  30,289
  31,659
  33,105
  34,632
  36,243
  37,941
  39,731
  41,617
  43,603
  45,693
  47,893
  50,208
  52,643
  55,204
  57,897
  60,728
  63,705
  66,834
  70,122
  73,578
  77,209
  81,025
  85,034
  89,245
Adjusted assets (=assets-cash), $m
  22,608
  23,532
  24,496
  25,523
  26,613
  27,769
  28,993
  30,289
  31,659
  33,105
  34,632
  36,243
  37,941
  39,731
  41,617
  43,603
  45,693
  47,893
  50,208
  52,643
  55,204
  57,897
  60,728
  63,705
  66,834
  70,122
  73,578
  77,209
  81,025
  85,034
  89,245
Revenue / Adjusted assets
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
  0.415
Average production assets, $m
  13,348
  13,887
  14,456
  15,062
  15,705
  16,387
  17,110
  17,874
  18,683
  19,536
  20,437
  21,388
  22,390
  23,447
  24,559
  25,731
  26,965
  28,263
  29,629
  31,066
  32,577
  34,167
  35,838
  37,594
  39,441
  41,381
  43,420
  45,563
  47,815
  50,181
  52,666
Working capital, $m
  6,297
  1,309
  1,362
  1,419
  1,480
  1,544
  1,612
  1,684
  1,761
  1,841
  1,926
  2,015
  2,110
  2,209
  2,314
  2,425
  2,541
  2,663
  2,792
  2,927
  3,070
  3,220
  3,377
  3,543
  3,717
  3,899
  4,092
  4,294
  4,506
  4,729
  4,963
Total debt, $m
  3,902
  4,038
  4,454
  4,896
  5,366
  5,864
  6,392
  6,951
  7,541
  8,164
  8,822
  9,517
  10,249
  11,020
  11,833
  12,689
  13,590
  14,538
  15,535
  16,585
  17,689
  18,850
  20,070
  21,353
  22,701
  24,119
  25,608
  27,173
  28,818
  30,545
  32,361
Total liabilities, $m
  10,006
  10,142
  10,558
  11,000
  11,470
  11,968
  12,496
  13,055
  13,645
  14,268
  14,926
  15,621
  16,353
  17,124
  17,937
  18,793
  19,694
  20,642
  21,639
  22,689
  23,793
  24,954
  26,174
  27,457
  28,805
  30,223
  31,712
  33,277
  34,922
  36,649
  38,465
Total equity, $m
  17,893
  13,389
  13,938
  14,522
  15,143
  15,800
  16,497
  17,234
  18,014
  18,837
  19,706
  20,622
  21,589
  22,607
  23,680
  24,810
  25,999
  27,251
  28,568
  29,954
  31,411
  32,943
  34,554
  36,248
  38,028
  39,899
  41,866
  43,932
  46,103
  48,384
  50,780
Total liabilities and equity, $m
  27,899
  23,531
  24,496
  25,522
  26,613
  27,768
  28,993
  30,289
  31,659
  33,105
  34,632
  36,243
  37,942
  39,731
  41,617
  43,603
  45,693
  47,893
  50,207
  52,643
  55,204
  57,897
  60,728
  63,705
  66,833
  70,122
  73,578
  77,209
  81,025
  85,033
  89,245
Debt-to-equity ratio
  0.218
  0.300
  0.320
  0.340
  0.350
  0.370
  0.390
  0.400
  0.420
  0.430
  0.450
  0.460
  0.470
  0.490
  0.500
  0.510
  0.520
  0.530
  0.540
  0.550
  0.560
  0.570
  0.580
  0.590
  0.600
  0.600
  0.610
  0.620
  0.630
  0.630
  0.640
Adjusted equity ratio
  0.557
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  3,695
  935
  981
  1,032
  1,086
  1,144
  1,206
  1,272
  1,343
  1,419
  1,499
  1,699
  1,790
  1,886
  1,988
  2,096
  2,210
  2,331
  2,459
  2,595
  2,738
  2,889
  3,049
  3,218
  3,396
  3,584
  3,782
  3,991
  4,212
  4,445
  4,690
Depreciation, amort., depletion, $m
  1,195
  1,278
  1,324
  1,372
  1,424
  1,479
  1,538
  1,599
  1,664
  1,733
  1,806
  1,725
  1,806
  1,891
  1,981
  2,075
  2,175
  2,279
  2,389
  2,505
  2,627
  2,755
  2,890
  3,032
  3,181
  3,337
  3,502
  3,674
  3,856
  4,047
  4,247
Funds from operations, $m
  2,771
  2,212
  2,305
  2,404
  2,510
  2,623
  2,743
  2,872
  3,008
  3,152
  3,305
  3,424
  3,596
  3,777
  3,968
  4,171
  4,385
  4,611
  4,849
  5,100
  5,365
  5,644
  5,939
  6,249
  6,576
  6,921
  7,284
  7,666
  8,068
  8,492
  8,938
Change in working capital, $m
  250
  50
  54
  57
  61
  64
  68
  72
  76
  80
  85
  90
  94
  100
  105
  110
  116
  122
  129
  135
  142
  150
  157
  166
  174
  183
  192
  202
  212
  223
  234
Cash from operations, $m
  2,521
  2,162
  2,251
  2,347
  2,449
  2,559
  2,675
  2,799
  2,931
  3,071
  3,220
  3,335
  3,501
  3,677
  3,864
  4,061
  4,269
  4,488
  4,720
  4,965
  5,223
  5,495
  5,781
  6,084
  6,402
  6,738
  7,091
  7,464
  7,856
  8,269
  8,703
Maintenance CAPEX, $m
  0
  -1,076
  -1,120
  -1,166
  -1,215
  -1,267
  -1,322
  -1,380
  -1,441
  -1,507
  -1,576
  -1,648
  -1,725
  -1,806
  -1,891
  -1,981
  -2,075
  -2,175
  -2,279
  -2,389
  -2,505
  -2,627
  -2,755
  -2,890
  -3,032
  -3,181
  -3,337
  -3,502
  -3,674
  -3,856
  -4,047
New CAPEX, $m
  -1,130
  -539
  -569
  -606
  -643
  -682
  -723
  -765
  -808
  -854
  -901
  -951
  -1,002
  -1,056
  -1,113
  -1,172
  -1,234
  -1,298
  -1,366
  -1,437
  -1,511
  -1,589
  -1,671
  -1,757
  -1,846
  -1,941
  -2,039
  -2,143
  -2,252
  -2,366
  -2,485
Cash from investing activities, $m
  3,662
  -1,615
  -1,689
  -1,772
  -1,858
  -1,949
  -2,045
  -2,145
  -2,249
  -2,361
  -2,477
  -2,599
  -2,727
  -2,862
  -3,004
  -3,153
  -3,309
  -3,473
  -3,645
  -3,826
  -4,016
  -4,216
  -4,426
  -4,647
  -4,878
  -5,122
  -5,376
  -5,645
  -5,926
  -6,222
  -6,532
Free cash flow, $m
  6,183
  547
  562
  575
  591
  610
  631
  655
  682
  711
  743
  736
  774
  815
  860
  908
  960
  1,015
  1,075
  1,138
  1,206
  1,278
  1,355
  1,437
  1,524
  1,617
  1,715
  1,819
  1,930
  2,047
  2,171
Issuance/(repayment) of debt, $m
  -573
  392
  416
  442
  470
  498
  528
  558
  590
  624
  658
  694
  732
  771
  813
  856
  901
  948
  998
  1,049
  1,104
  1,161
  1,220
  1,283
  1,349
  1,417
  1,489
  1,565
  1,645
  1,728
  1,815
Issuance/(repurchase) of shares, $m
  -4,089
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -4,661
  392
  416
  442
  470
  498
  528
  558
  590
  624
  658
  694
  732
  771
  813
  856
  901
  948
  998
  1,049
  1,104
  1,161
  1,220
  1,283
  1,349
  1,417
  1,489
  1,565
  1,645
  1,728
  1,815
Total cash flow (excl. dividends), $m
  1,436
  939
  978
  1,018
  1,061
  1,108
  1,159
  1,213
  1,272
  1,334
  1,401
  1,430
  1,506
  1,587
  1,673
  1,764
  1,861
  1,964
  2,072
  2,188
  2,310
  2,439
  2,576
  2,720
  2,873
  3,034
  3,204
  3,384
  3,574
  3,775
  3,986
Retained Cash Flow (-), $m
  895
  -531
  -549
  -584
  -620
  -658
  -697
  -737
  -779
  -823
  -869
  -917
  -966
  -1,018
  -1,073
  -1,130
  -1,189
  -1,252
  -1,317
  -1,386
  -1,457
  -1,532
  -1,611
  -1,694
  -1,780
  -1,871
  -1,966
  -2,066
  -2,171
  -2,281
  -2,396
Prev. year cash balance distribution, $m
 
  5,035
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  5,442
  429
  434
  441
  450
  462
  476
  493
  511
  532
  513
  540
  568
  600
  634
  671
  712
  755
  802
  853
  907
  964
  1,026
  1,092
  1,163
  1,238
  1,318
  1,403
  1,494
  1,590
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  5,218
  392
  377
  363
  349
  335
  322
  308
  294
  279
  244
  230
  216
  201
  186
  171
  155
  139
  124
  108
  94
  80
  67
  56
  45
  36
  28
  22
  16
  12
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs). The Optical Communications segment manufactures carrier and enterprise network components for the telecommunications industry. The Environmental Technologies segment manufactures ceramic substrates and filters for automotive and diesel emission control applications. As of December 31, 2016, the Specialty Materials segment manufactured products, which provided more than 150 material formulations for glass, glass ceramics and fluoride crystals. The Life Sciences segment manufactures glass and plastic labware, equipment, media and reagents. The All Other segment consists of its Pharmaceutical Technologies business and non-LCD glass business, and among others.

FINANCIAL RATIOS  of  Corning (GLW)

Valuation Ratios
P/E Ratio 8.7
Price to Sales 3.4
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 12.8
Price to Free Cash Flow 23.2
Growth Rates
Sales Growth Rate 3.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -9.6%
Cap. Spend. - 3 Yr. Gr. Rate 2.1%
Financial Strength
Quick Ratio 21
Current Ratio 0.3
LT Debt to Equity 20.4%
Total Debt to Equity 21.8%
Interest Coverage 21
Management Effectiveness
Return On Assets 13.7%
Ret/ On Assets - 3 Yr. Avg. 9.2%
Return On Total Capital 16.4%
Ret/ On T. Cap. - 3 Yr. Avg. 10.7%
Return On Equity 20.1%
Return On Equity - 3 Yr. Avg. 12.8%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 39.9%
Gross Margin - 3 Yr. Avg. 40.6%
EBITDA Margin 54%
EBITDA Margin - 3 Yr. Avg. 45.4%
Operating Margin 14.8%
Oper. Margin - 3 Yr. Avg. 16.7%
Pre-Tax Margin 39.3%
Pre-Tax Margin - 3 Yr. Avg. 30.8%
Net Profit Margin 39.4%
Net Profit Margin - 3 Yr. Avg. 26.5%
Effective Tax Rate -0.1%
Eff/ Tax Rate - 3 Yr. Avg. 13.5%
Payout Ratio 17.5%

GLW stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GLW stock intrinsic value calculation we used $9390 million for the last fiscal year's total revenue generated by Corning. The default revenue input number comes from 2016 income statement of Corning. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GLW stock valuation model: a) initial revenue growth rate of 4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for GLW is calculated based on our internal credit rating of Corning, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Corning.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GLW stock the variable cost ratio is equal to 75.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $954 million in the base year in the intrinsic value calculation for GLW stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.4% for Corning.

Corporate tax rate of 27% is the nominal tax rate for Corning. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GLW stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GLW are equal to 142.2%.

Life of production assets of 12.4 years is the average useful life of capital assets used in Corning operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GLW is equal to 13.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $17893 million for Corning - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 877.462 million for Corning is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Corning at the current share price and the inputted number of shares is $30.6 billion.

RELATED COMPANIES Price Int.Val. Rating
TMO Thermo Fisher 212.41 70.89  str.sell
PPG PPG Industries 118.41 97.29  hold
PKI PerkinElmer 79.54 56.62  sell
COMM CommScope Hold 38.50 22.19  sell
IIVI II-VI 52.05 44.32  hold
CLFD Clearfield 12.20 7.46  sell
OCC Optical Cable 2.46 0.82  str.sell

COMPANY NEWS

▶ Is Corning Incorporated (GLW) a Buy?   [Jan-18-18 10:34AM  Motley Fool]
▶ Is Corning Stock a Buy in 2018?   [Jan-13-18 01:31PM  Motley Fool]
▶ 3 Rock-Solid Cheap Stocks with P/Es Under 15   [Jan-10-18 11:41AM  Motley Fool]
▶ 3 Dividend Stocks for In-the-Know Investors   [Jan-05-18 01:33PM  Motley Fool]
▶ ETFs with exposure to Corning, Inc. : January 1, 2018   [Jan-01-18 11:38AM  Capital Cube]
▶ Why 2017 Was a Year to Remember for Corning Inc.   [Dec-22-17 11:45AM  Motley Fool]
▶ ETFs with exposure to Corning, Inc. : December 19, 2017   [Dec-19-17 01:08PM  Capital Cube]
▶ Here's How Corning Incorporated Crushed It in 2017   [Dec-18-17 12:00PM  Motley Fool]
▶ Corning's Optical Business Just Got a Huge Boost   [Dec-13-17 07:08PM  Motley Fool]
▶ Corning picks Durham, Edgecombe counties for 428-job expansion   [03:30PM  American City Business Journals]
▶ Deals of the day-Mergers and acquisitions   [Dec-11-17 04:01PM  Reuters]
▶ 3M selling off optical cable division to Corning Inc. for $900 million   [12:15PM  American City Business Journals]
▶ Better Buy: Corning Incorporated vs. Universal Display   [Dec-07-17 02:06PM  Motley Fool]
▶ ETFs with exposure to Corning, Inc. : November 30, 2017   [Nov-30-17 01:52PM  Capital Cube]
▶ Better Buy: Corning Incorporated vs. Cirrus Logic   [Nov-21-17 05:28PM  Motley Fool]
▶ ETFs with exposure to Corning, Inc. : November 20, 2017   [Nov-20-17 12:32PM  Capital Cube]
▶ Better Buy: Corning Incorporated vs. Apple   [Nov-09-17 06:17PM  Motley Fool]
▶ Corning Builds a Moat of Fiber Optic Cable   [Nov-07-17 07:34PM  Motley Fool]
▶ 3 Stocks to Hold for the Next 50 Years   [Oct-31-17 05:39PM  Motley Fool]
▶ ETFs with exposure to Corning, Inc. : October 30, 2017   [Oct-30-17 11:53AM  Capital Cube]
▶ Trade of the Week: Corning   [09:00AM  TheStreet.com]
▶ [$$] Pittsburgh Corning Trust Agrees to Settle Asbestos Claims   [Oct-26-17 12:20PM  The Wall Street Journal]
▶ [$$] Corning Gains on Demand for Its Glass for Smartphones   [01:17PM  The Wall Street Journal]
▶ Corning tops Street 3Q forecasts   [07:23AM  Associated Press]
▶ Corning Reports Third-Quarter 2017 Results   [07:16AM  GlobeNewswire]
▶ Corning Inc to Host Earnings Call   [07:03AM  ACCESSWIRE]
▶ 3 High-Yield Tech Stocks   [Oct-05-17 09:44PM  Motley Fool]
▶ Spiros Segalas Picks Up 5 New Stocks in 3rd Quarter   [Oct-02-17 02:00PM  GuruFocus.com]
▶ 3 Stocks You Can Buy and Hold Forever   [Oct-01-17 08:37AM  Motley Fool]
▶ Sunnyvale CEO charged with insider trading in sale to Corning   [Sep-21-17 03:59PM  American City Business Journals]
▶ [$$] Trump and jobs: the tweets and the facts   [Aug-28-17 11:21PM  Financial Times]
Financial statements of GLW
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.