CORNING INC /NY
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GLW FY 2025 request
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| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Revenue | 15,629 | 13,118 | +19.1% |
Show Product Lines breakouts |
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| Automotive products | 1,777 | 1,704 | +4.3% |
| Display products | 2,965 | 2,727 | +8.7% |
| Life science products | 959 | 933 | +2.8% |
| Optical Communications | 6,274 | 4,657 | +34.7% |
| Polycrystalline silicon products | 955 | 865 | +10.4% |
| Product And Service Other | 505 | 232 | +117.7% |
| Specialty material products | 2,194 | 2,000 | +9.7% |
Show Related Party Transactions By Related Party breakouts |
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| Equity Method Investee | 239 | 224 | +6.7% |
| Cost of Revenue | 10,008 | 8,842 | +13.2% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -5 | 47 | -110.6% |
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| Reclassification Out Of Accumulated Other Comprehensive Income | -5 | 47 | -110.6% |
| Gross Profit | 5,621 | 4,276 | +31.5% |
| Selling, General & Administrative | 2,122 | 1,931 | +9.9% |
| Research Development And Engineering Expenses | 1,110 | 1,089 | +1.9% |
Show Business Segments breakouts |
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| Automotive · Operating Segments | 146 | 163 | -10.4% |
| Display · Operating Segments | 97 | 110 | -11.8% |
| Hemlock and Emerging Growth Businesses · Operating Segments | 92 | 105 | -12.4% |
| Life Sciences · Operating Segments | 25 | 22 | +13.6% |
| Optical Communications · Operating Segments | 308 | 274 | +12.4% |
| Specialty Materials · Operating Segments | 277 | 253 | +9.5% |
Show Consolidation Items breakouts |
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| Material Reconciling Items | 159 | 151 | +5.3% |
| Operating Segments | 945 | 927 | +1.9% |
| Amortization Of Intangible Assets | 110 | 121 | -9.1% |
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| Material Reconciling Items | 110 | 121 | -9.1% |
| Operating Income | 2,279 | 1,135 | +100.8% |
| Interest Income | 38 | 47 | -19.1% |
| Interest Expense | -336 | -329 | -2.1% |
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| Material Reconciling Items | -260 | -248 | -4.8% |
| Translated Earnings Contract Gain Net | 150 | 83 | +80.7% |
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| Material Reconciling Items | 150 | 83 | +80.7% |
| Other Non-Operating Income (Expense) | -79 | -123 | +35.8% |
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| Accumulated Defined Benefit Plans Adjustment Net Prior Service Cost Credit · Reclassification Out Of Accumulated Other Comprehensive Income | 38 | 48 | -20.8% |
| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | 3 | -38 | +107.9% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | 13 | -1 | +1400.0% |
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| Reclassification Out Of Accumulated Other Comprehensive Income | 13 | -1 | +1400.0% |
| Income Before Taxes | 2,052 | 813 | +152.4% |
| Income Tax Expense (Benefit) | -310 | -221 | -40.3% |
Show Business Segments breakouts |
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| Automotive · Operating Segments | -74 | -70 | -5.7% |
| Display · Operating Segments | -259 | -263 | +1.5% |
| Hemlock and Emerging Growth Businesses · Operating Segments | -7 | -23 | +69.6% |
| Life Sciences · Operating Segments | -16 | -17 | +5.9% |
| Optical Communications · Operating Segments | -304 | -174 | -74.7% |
| Specialty Materials · Operating Segments | -98 | -69 | -42.0% |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -10 | -2 | -400.0% |
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| Material Reconciling Items | 448 | 395 | +13.4% |
| Operating Segments | -758 | -616 | -23.1% |
| Net Income | 1,742 | 592 | +194.3% |
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| Noncontrolling Interest | 146 | 86 | +69.8% |
| Parent | 1,596 | 506 | +215.4% |
| Retained Earnings | 1,596 | 506 | +215.4% |
| Net Income Loss Attributable To Noncontrolling Interest | -146 | -86 | -69.8% |
| Net Income | 1,596 | 506 | +215.4% |
Show Business Segments breakouts |
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| Automotive · Operating Segments | 278 | 261 | +6.5% |
| Display · Operating Segments | 993 | 1,006 | -1.3% |
| Hemlock and Emerging Growth Businesses · Operating Segments | -26 | 42 | -161.9% |
| Life Sciences · Operating Segments | 61 | 63 | -3.2% |
| Optical Communications · Operating Segments | 1,048 | 612 | +71.2% |
| Reportable Segments · Operating Segments | 2,747 | 2,202 | +24.8% |
| Specialty Materials · Operating Segments | 367 | 260 | +41.2% |
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| Operating Segments | 2,721 | 2,244 | +21.3% |
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts |
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| Reclassification Out Of Accumulated Other Comprehensive Income | 8 | 46 | -82.6% |
| EPS (Basic) | 1.87 | 0.59 | +216.9% |
| EPS (Diluted) | 1.83 | 0.58 | +215.5% |
| Research & Development | 0.8 | 0.8 | 0.0% |
| Comprehensive Income | 2,034 | 11 | +18390.9% |
| Other Comprehensive Income | 438 | -495 | +188.5% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -49 | 184 | -126.6% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | 104 | -91 | +214.3% |
| Accumulated Translation Adjustment | 383 | -588 | +165.1% |
| Aoci Including Portion Attributable To Noncontrolling Interest | 438 | -495 | +188.5% |
| Wtd Avg Shares (Basic) | 855 | 853 | +0.2% |
| Wtd Avg Shares (Diluted) | 871 | 869 | +0.2% |
| Foreign Currency Transaction Gain Loss Before Tax (FY) | — | — | — |
Show Derivative Instruments Gain Loss By Hedging Relationship breakouts |
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| Net Investment Hedging | -104 | 55 | -289.1% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 1,526 | 1,768 | -13.7% |
| Accounts Receivable | 2,779 | 2,053 | +35.4% |
| Inventory | 3,077 | 2,724 | +13.0% |
| Other Assets Current | 1,554 | 1,447 | +7.4% |
Show Government Assistance Type breakouts |
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| Government Incentives | 163 | 83 | +96.4% |
| Government Incentives, Cash Incentives | 83 | — | — |
| Total Current Assets | 8,936 | 7,992 | +11.8% |
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| Material Reconciling Items | 3,060 | 2,881 | +6.2% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 14,825 | 13,359 | +11.0% |
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| Material Reconciling Items | 1,139 | 1,133 | +0.5% |
| Goodwill | 2,489 | 2,363 | +5.3% |
Show Business Segments breakouts |
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| Display | 123 | 121 | +1.7% |
| Hemlock and Emerging Growth Businesses | 713 | 609 | +17.1% |
| Life Sciences | 609 | 606 | +0.5% |
| Optical Communications | 907 | 890 | +1.9% |
| Specialty Materials | 137 | 137 | 0.0% |
| Deferred Tax Assets | 1,515 | 1,130 | +34.1% |
| Other Non-Current Assets | 2,554 | 2,139 | +19.4% |
Show Consolidation Items breakouts |
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| Material Reconciling Items | 6,703 | 5,991 | +11.9% |
| Total Assets | 30,976 | 27,735 | +11.7% |
Show Business Segments breakouts |
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| Hemlock and Emerging Growth Businesses · Operating Segments | 3,409 | 1,869 | +82.4% |
| Reportable Segments · Operating Segments | 16,455 | 15,757 | +4.4% |
| Operating Lease Right-of-Use Assets | 860 | 796 | +8.0% |
| Intangible Assets | 657 | 752 | -12.6% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Customer lists and other | 527 | 611 | -13.7% |
| Patents, trademarks & trade names | 130 | 141 | -7.8% |
| Other Assets | |||
| Intangible Assets Net Excluding Goodwill | 657 | 752 | -12.6% |
| Current Liabilities | |||
| Debt Current | 804 | 326 | +146.6% |
| Accounts Payable | 1,979 | 1,472 | +34.4% |
| Accrued Liabilities | 2,845 | 3,121 | -8.8% |
| Total Current Liabilities | 5,628 | 4,919 | +14.4% |
| Deferred Revenue (Current) | 160 | 127 | +26.0% |
| Non-Current Liabilities | |||
| Other Postretirement Defined Benefit Plan Liabilities Noncurrent | 314 | 336 | -6.5% |
| Other Non-Current Liabilities | 5,097 | 4,525 | +12.6% |
| Total Liabilities | 18,669 | 16,665 | +12.0% |
| Long-Term Debt (Q) | — | — | — |
Show Debt Instrument breakouts |
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| Debentures, 3.90%, due 2049 | 396 | 396 | 0.0% |
| Debentures, 4.375%, due 2057 | 744 | 743 | +0.1% |
| Debentures, 4.70%, due 2037 | 297 | 297 | 0.0% |
| Debentures, 4.75%, due 2042 | 497 | 497 | 0.0% |
| Debentures, 5.35%, due 2048 | 545 | 545 | 0.0% |
| Debentures, 5.45%, due 2079 | 1,087 | 1,087 | 0.0% |
| Debentures, 5.75%, due 2040 | 401 | 397 | +1.0% |
| Debentures, 5.85%, due 2068 | 297 | 297 | 0.0% |
| Debentures, 6.85%, due 2029 | 150 | 156 | -3.8% |
| Debentures, 7.25%, due 2036 | 249 | 249 | 0.0% |
| Euro-denominated notes, 3.875%, due 2026 | 352 | 311 | +13.2% |
| Euro-denominated notes, 4.125%, due 2031 | 642 | 568 | +13.0% |
| Financing Leases, average discount rate 5.86%, due through 2045 (Note 8) | 1,232 | 174 | +608.0% |
| Other, average rate 3.86%, due through 2042 | 677 | 574 | +17.9% |
| Yen-denominated debentures, 0.992%, due 2027 | 237 | 236 | +0.4% |
| Yen-denominated debentures, 1.043%, due 2028 | 163 | 163 | 0.0% |
| Yen-denominated debentures, 1.153%, due 2031 | 199 | 198 | +0.5% |
| Yen-denominated debentures, 1.219%, due 2030 | 159 | 159 | 0.0% |
| Yen-denominated debentures, 1.513%, due 2039 | 38 | 37 | +2.7% |
| Yen-denominated debentures, 1.583%, due 2037 | 63 | 63 | 0.0% |
| Operating Lease Liabilities | 846 | 785 | +7.8% |
| Deferred Tax Liabilities | 149 | 137 | +8.8% |
| Contract With Customer Liability Noncurrent | 1,335 | 983 | +35.8% |
| Other Liabilities | |||
| Long Term Debt And Capital Lease Obligations | 7,630 | 6,885 | +10.8% |
| Stockholders' Equity | |||
| Common Stock | 924 | 921 | +0.3% |
| Additional Paid In Capital Common Stock | 17,580 | 17,264 | +1.8% |
| Retained Earnings | 16,551 | 15,926 | +3.9% |
| Treasury Stock Common Value | -21,143 | -20,882 | -1.2% |
| Accumulated Other Comprehensive Income | -2,105 | -2,543 | +17.2% |
| Total Stockholders' Equity | 11,807 | 10,686 | +10.5% |
| Minority Interest | 500 | 384 | +30.2% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 12,307 | 11,070 | +11.2% |
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| Accumulated Defined Benefit Plans Adjustment | -7 | 42 | -116.7% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | 52 | -52 | +200.0% |
| Accumulated Net Unrealized Investment Gain Loss | -3 | -3 | 0.0% |
| Accumulated Other Comprehensive Income | -2,105 | -2,543 | +17.2% |
| Accumulated Translation Adjustment | -2,147 | -2,530 | +15.1% |
| Additional Paid In Capital | 17,580 | 17,264 | +1.8% |
| Aoci Including Portion Attributable To Noncontrolling Interest | -2,105 | -2,543 | +17.2% |
| Common Stock | 924 | 921 | +0.3% |
| Noncontrolling Interest | 500 | 384 | +30.2% |
| Parent | 11,807 | 10,686 | +10.5% |
| Retained Earnings | 16,551 | 15,926 | +3.9% |
| Treasury Stock Common | -21,143 | -20,882 | -1.2% |
| Total Liabilities & Equity | 30,976 | 27,735 | +11.7% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation | 1,237 | 1,229 | +0.7% |
Show Business Segments breakouts |
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| Automotive · Operating Segments | 163 | 174 | -6.3% |
| Display · Operating Segments | 421 | 446 | -5.6% |
| Hemlock and Emerging Growth Businesses · Operating Segments | 150 | 112 | +33.9% |
| Life Sciences · Operating Segments | 61 | 67 | -9.0% |
| Optical Communications · Operating Segments | 271 | 267 | +1.5% |
| Specialty Materials · Operating Segments | 159 | 153 | +3.9% |
Show Consolidation Items breakouts |
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| Operating Segments | 1,225 | 1,219 | +0.5% |
| Gain Loss On Disposition Of Assets1 | 27 | 143 | -81.1% |
| Stock-Based Compensation | 286 | 273 | +4.8% |
| Translation Gain Loss On Japanese Yen Denominated Debt | 52 | -104 | +150.0% |
| Deferred Income Taxes | -355 | -33 | -975.8% |
| Translated Earnings Contract Gain Loss Net | -150 | -83 | -80.7% |
| Pension Contributions | -68 | -9 | -655.6% |
| Change in Accounts Receivable | -749 | -717 | -4.5% |
| Change in Inventory | -243 | -171 | -42.1% |
| Increase Decrease In Other Current Assets | -262 | -107 | -144.9% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | 584 | 470 | +24.3% |
| Increase Decrease In Customer Deposits And Incentives | 268 | -6 | +4566.7% |
| Increase Decrease In Deferred Revenue | -58 | -27 | -114.8% |
| Increase Decrease In Other Operating Capital Net | 274 | 223 | +22.9% |
| Net Cash from Operations | 2,695 | 1,939 | +39.0% |
| Change in Deferred Revenue | 142 | 195 | -27.2% |
| Investing Activities | |||
| Payments For Capital Improvements | -1,282 | -965 | -32.8% |
| Proceeds From Sale Of Property Plant And Equipment (FY) | — | — | — |
Show Related Party Transactions By Related Party breakouts |
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| Nonrelated Party | 11 | 80 | -86.2% |
| Payments To Acquire Interest In Subsidiaries And Affiliates | -134 | -7 | -1814.3% |
| Proceeds From Derivative Instrument Investing Activities | 304 | 279 | +9.0% |
| Payments For Hedge Investing Activities | -122 | -98 | -24.5% |
| Other Investing Activities | -20 | -33 | +39.4% |
| Net Cash from Investing | -1,243 | -744 | -67.1% |
| Financing Activities | |||
| Debt Repayments | -298 | -267 | -11.6% |
| Proceeds From Issuance Of Debt | 294 | 153 | +92.2% |
| Repayments Of Other Short Term Debt | -75 | — | — |
| Proceeds From Derivative Instrument Financing Activities | 24 | 134 | -82.1% |
| Finance Lease Principal Payments | -346 | -30 | -1053.3% |
Show Lease Contractual Term breakouts |
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| Facility Lease | -315 | — | — |
| Tax Withholding for Share Compensation | -98 | -81 | -21.0% |
| Proceeds From Stock Options Exercised | 41 | 76 | -46.1% |
| Share Repurchases | -163 | -165 | +1.2% |
Show Share Repurchase Program breakouts |
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| The 2019 Repurchase Program | -163 | -165 | +1.2% |
| Payments Of Ordinary Dividends | -999 | -986 | -1.3% |
| Proceeds From Payments For Other Financing Activities | -52 | 2 | -2700.0% |
| Net Cash from Financing | -1,672 | -1,164 | -43.6% |
| Supplemental | |||
| Income Taxes Paid | 283 | 263 | +7.6% |
| Unpaid Capital Expenditures | 241 | 149 | +61.7% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 18 | -42 | +142.9% |
| Net Change in Cash | -202 | -11 | -1736.4% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 1,566 | 1,768 | -11.4% |
| Restricted Cash Current | 40 | — | — |
Values in millions USD. Source: SEC EDGAR 10-K filing.