---
title: Corning (GLW) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/glw
ticker: GLW
as_of: 2026-10-17
sector: Technology
industry: Hardware, Equipment & Parts
---
# Corning (GLW)

Corning (GLW) closed at $132.06 on Oct 16, 2026, overvalued by 257% vs its model value of $37.00 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $132.06 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $37.00 |
| Price vs model | overvalued by 257% vs model |
| Range of that model | $20.42 – $91.42 |
| Market value | $113.8B |
| P/E (fiscal 2025) | 71.4 |
| Net margin (fiscal 2025) | 10.2% |
| Free cash flow (fiscal 2025) | $1.4B |
| Dividend yield (trailing twelve months) | 0.85% |
| Beta | 1.12 |
| Cost of capital (WACC) | 9.14% |
| Business classification | Profitable Growth (Moderate growth (~11% recent), Moderate margins (10% net margin), Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Best performing this year | #42 | +50.8% | https://sweetvaluelab.com/lists/best-performing-this-year |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.85% |
| Dividends per share, last 12 months | $1.12 |
| Dividends / free cash flow (fiscal 2025) | 70.7% |
| Raised | — |
| Growth over 5 years | 3.6% a year |
| Latest payment | $0.28, ex-date Aug 31, 2026, paid Sep 29, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Aug 30, 2021 | $0.94 |
| To Aug 30, 2022 | $1.05 |
| To Aug 30, 2023 | $1.11 |
| To Aug 30, 2024 | $1.12 |
| To Aug 29, 2025 | $1.12 |
| Trailing twelve months (to Aug 31, 2026) | $1.12 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $37.00 | $20.42 | $91.42 |
| DCF · Perpetuity growth · 10y | cross check | $59.89 | $34.61 | $142.77 |
| DCF · EBITDA exit · 5y | cross check | $181.85 | $143.29 | $226.77 |
| DCF · EBITDA exit · 10y | cross check | $221.34 | $160.85 | $300.34 |
| P/E · peers | cross check | $89.16 | $85.56 | $92.75 |
| P/E · own history | cross check | $141.26 | $65.47 | $210.14 |
| PEG | sanity check | $82.24 | $82.24 | $82.24 |
| EV/EBITDA · peers | cross check | $136.29 | $107.14 | $278.99 |
| EV/Revenue · peers | cross check | $162.80 | $91.89 | $306.69 |
| Earnings power value | cross check | $5.54 | $3.34 | $8.62 |
| Dividend discount | cross check | $30.81 | $21.12 | $46.63 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 2 open-market sales ($3.5M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 30, 2026 | Martin Kevin J | Director | Grant / award | 228 | $35,057.3 |
| Sep 30, 2026 | Ferguson Roger W. Jr. | Director | Grant / award | 268 | $41,207.7 |
| Sep 30, 2026 | CUMMINGS ROBERT F JR | Director | Grant / award | 268 | $41,207.7 |
| Sep 30, 2026 | BURNS STEPHANIE | Director | Grant / award | 268 | $41,207.7 |
| Sep 4, 2026 | Gullo Michelle L | Senior Vice President & CHRO | Open-market sell | 9,874 | $1.5M |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 11, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/24741/000119312526389321/d154232d8k.htm |
| Sep 11, 2026 | 424B5 | Prospectus supplement | https://www.sec.gov/Archives/edgar/data/24741/000119312526389313/d34258d424b5.htm |
| Sep 4, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/24741/000120677426000517/glw4684541-8k.htm |
| Jul 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/24741/000002474126000255/glw-20260630.htm |
| Jul 28, 2026 | 8-K | 2.02 Results of Operations (Earnings) | https://www.sec.gov/Archives/edgar/data/24741/000002474126000253/glw-20260728.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Stephen Mandel | 2026-06-30 | 2,728,058 | $696.8M |
| Mairs & Power | 2026-06-30 | 85,447 | $21.8M |
| Dodge & Cox | 2026-06-30 | 34,665 | $8.9M |
| Lee Ainslie | 2026-06-30 | 4,774 | $1.2M |

6 tracked managers in all.

## About

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 metrolog…

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Source: https://sweetvaluelab.com/stocks/glw (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.