Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Corning (GLW) delivered a strong FY2025, with revenue surging 19.1% to $15.6B and net income more than tripling to $1.6B, driven by significant operating leverage and margin expansion across the business.
Revenue
$15.63B
+19.14% YoY
EPS (Diluted)
$1.83
+215.52% YoY
Gross Margin
36.0%
+3.4 pts YoY
Operating Income
$2.28B
+100.79% YoY
Source: SEC XBRL
Corning (GLW) reported FY2025 revenue of $15.63B, up 19.1% year over year. Operating margin was 14.6%, up 5.9 points from 8.7% a year earlier. Operating cash flow was $2.69B, up 39.0% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.78 | 0.76 | Beat +2.2% |
| Mar 2026 | 0.70 | 0.70 | Beat +0.5% |
| Dec 2025This filing | 0.72 | 0.71 | Beat +1.1% |
| Sep 2025 | 0.67 | 0.67 | Miss -0.0% |
Reported EPS of $0.72 versus the $0.71 analyst consensus — a +1.1% beat for Dec 2025.
Compiled by AI from this SEC filing
Corning's revenue grew 19.1% year-over-year to $15.6B in FY2025 (from $13.1B in the prior year), reflecting robust demand across its core segments. This top-line acceleration is one of the strongest growth rates the company has posted in recent years.
Source: 10-K Income Statement (XBRL Financial Data)
Operating income doubled, rising 100.8% to $2.28B from $1.14B, while operating margin expanded approximately 590 basis points to 14.6%. This indicates that revenue growth significantly outpaced cost growth, demonstrating strong operating leverage.
Source: 10-K Income Statement (XBRL Financial Data)
Net income increased 215.4% to $1.60B from $506M, and diluted EPS jumped to $1.83 from $0.58, a gain of over 215%. This outsized bottom-line growth relative to revenue growth suggests meaningful improvement in profitability and/or reduced below-the-line charges.
Source: 10-K Income Statement (XBRL Financial Data)
Gross margin improved approximately 337 basis points to 36.0% from 32.6%, as gross profit grew 31.5% to $5.62B while cost of revenue grew at a slower pace of 13.2%. This reflects favorable product mix, pricing power, or improved manufacturing efficiency.
Source: 10-K Income Statement & Key Ratios (XBRL Financial Data)
Operating cash flow rose 39.0% to $2.70B from $1.94B, underscoring the quality of earnings. Investing outflows increased to -$1.24B, reflecting continued capital deployment, while financing outflows of -$1.67B included $163M in share buybacks.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Compiled by AI from this SEC filing · 1 high, 3 medium, 1 low
Corning's debt-to-equity ratio stands at approximately 1.58x, indicating that total liabilities of $18.7B significantly exceed stockholders' equity of $11.8B. In a rising interest rate environment, this leverage level could pressure interest expense and limit financial flexibility. Any deterioration in earnings could strain the company's ability to service its debt obligations.
Source: 10-K Balance Sheet (XBRL Financial Data)
Cash and equivalents fell 13.7% to $1.53B from $1.77B, even as operating cash flow improved strongly. With current liabilities of $5.63B and a current ratio of only 1.59x, the company's liquidity buffer, while adequate, leaves limited room for unexpected cash needs or economic downturns.
Source: 10-K Balance Sheet & Cash Flow Statement (XBRL Financial Data)
Net income tripled in FY2025, but it is unclear from available data whether this reflects sustainable operational improvement or one-time items. If a portion of the net income surge is non-recurring, future earnings could disappoint relative to elevated market expectations set by FY2025 results.
Source: 10-K Income Statement (XBRL Financial Data)
R&D expense remained flat at $800M year-over-year despite a 19.1% increase in revenue, meaning R&D as a percentage of revenue declined. For a technology-intensive company like Corning, sustained underinvestment in innovation could erode long-term competitive positioning in specialty glass and optical fiber markets.
Source: 10-K Income Statement (XBRL Financial Data)
SG&A expenses grew 9.9% to $2.12B, and total liabilities increased 12.0% to $18.7B, reflecting a growing cost and debt structure. If revenue growth moderates in future periods, the expanded fixed cost base could compress margins more rapidly than investors anticipate.
Source: 10-K Income Statement & Balance Sheet (XBRL Financial Data)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 15.63 $B | 13.12 $B | +19.14% |
Cost of Revenue $B | 10.01 $B | 8.84 $B | +13.19% |
Gross Profit $B | 5.62 $B | 4.28 $B | +31.45% |
Operating Income $B | 2.28 $B | 1.14 $B | +100.79% |
Net Income $B | 1.60 $B | 0.51 $B | +215.42% |
EPS (Basic) $ | 1.87 $ | 0.59 $ | +216.95% |
EPS (Diluted) $ | 1.83 $ | 0.58 $ | +215.52% |
R&D Expense $M | 800.00 $M | 800.00 $M | 0.00% |
SG&A Expense $B | 2.12 $B | 1.93 $B | +9.89% |
Answers draw on this SEC filing and the data on this page
Corning Incorporated delivered strong financial results in 2026-Q2 with GAAP net sales rising 17% YoY to $4.51B and Core EPS expanding 30% YoY to $0.78, driven by robust AI-related demand in Optical Communications.
Corning (GLW) delivered a strong Q1 2026 with revenue surging 20.0% YoY to $4.14B and net income more than doubling (+136.3%) to $371M, driven by broad-based demand and improved operating leverage.
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