Security Analysis

Security Analysis

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Security Analysis
Security Analysis
Corning (GLW)
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Corning (GLW)

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Value Stock Geek
Apr 21, 2024
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Security Analysis
Security Analysis
Corning (GLW)
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a cell phone on a couch
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Key Statistics

EV/EBIT = 30.5x

ROE = 4.93%

Debt/Equity = 73%

FCF Yield = 2.05%

Dividend Yield = 3.5%

Market Cap = $25.64 billion

The Company

Corning (GLW), a materials science company, has built a reputation for its toughened glass, such as Gorilla Glass in smartphones, and other specialty glass types, like Lotus Glass for displays.

While the company is well-known for its consumer goods, such as Pyrex kitchen glassware and Corningware, Corning divested them in 1998. Corelle purchased these consumer brands.

They are currently a major supplier for Apple, providing the tough glass that protects iPhones.

Corning played a crucial role in the development of the iPhone. In 2006, Steve Jobs challenged Corning to create a scratch-resistant glass cover for the upcoming iPhone. Developing solid scratch-resistant glass was one of the vital engineering challenges in making the iPhone.

A phone with a constantly exposed screen that users frequently touch requires incredible durability and scratch resistance.

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