# Corning (GLW) Forecast Calculator

Interactive five-year financial forecast and DCF for Corning. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/corning/forecast
- Industry: Technology
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 11503000000 | 1439000000 | 2696000000 | 960000000 |
| 2022 | 11303000000 | 1949000000 | 1908000000 | 512000000 |
| 2023 | 14082000000 | 3055000000 | 3464000000 | 1906000000 |
| 2024 | 14189000000 | 2201000000 | 2767000000 | 1316000000 |
| 2025 | 12588000000 | 1788000000 | 2137000000 | 581000000 |

## Frequently asked questions

### What does Corning Inc. (GLW) do, and what are its main business segments?

Corning Incorporated is a global leader in materials science, specializing in specialty glass, ceramics, and optical physics. The company manufactures high-technology components for consumer electronics, mobile emissions control, optical communications, and life sciences, with key segments including Optical Communications, Display Technologies, and Specialty Materials.

### What are the primary revenue drivers for Corning's Optical Communications segment?

The Optical Communications segment's revenue is primarily driven by carrier network miles deployed and enterprise/data center ports, along with their respective pricing. Key levers for growth include Generative AI data center buildouts, broadband infrastructure funding, and 5G deployment.

### What is Corning's historical capital expenditure as a percentage of revenue, and what drives it?

Historically, Corning's capital expenditure has ranged from 10% to 13% of revenue. This significant investment is split between approximately 40% for maintenance, such as glass melting tank rebuilds, and 60% for growth, including new optical fiber plants and Gen AI capacity expansion.

### What are the key assumptions used in the Corning financial model for forecasting purposes?

The financial model for Corning uses key assumptions such as revenue growth, COGS as a percentage of revenue, R&D as a percentage of revenue, and SGA as a percentage of revenue. Other important inputs include depreciation and amortization, tax rate, capital expenditure, and net working capital, all expressed as percentages of revenue.

### Can I download an Excel financial model for Corning Inc. (GLW)?

Yes, an Excel financial model for Corning Inc. (GLW) is available for download. This model evaluates Corning's equity valuation and cash flow generation capacity, with a forecast horizon from FY2026 to FY2030.

### How does Corning's "Springboard" growth plan impact its financial outlook?

Corning's "Springboard" plan targets $11 billion in incremental annualised sales by 2028. This strategy is expected to impact consolidated margins and capital expenditure requirements, particularly due to surging demand for Generative AI optical connectivity.