CORNING INC NY（GLW）の決算・業績分析
CORNING INC NYの2025年有価証券報告書をAI分析。売上高$15.6B(+19.1%)。営業利益$2.3B。Materials。
目次
CORNING INC NYの2025年度 業績サマリー
CORNING INC NY（証券コード: GLW）の2025年度決算・業績分析。売上高は$15.6B（前年比+19.1%）。営業利益は$2.3B（前年比+100.8%）。純利益は$1.6B（前年比+215.4%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
CORNING INC NYの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 0.8% YoY to $14.2B (XBRL), but operating income fell 31.9% YoY to $1.4B (XBRL) due to inflation and supply chain pressures.
- Net income declined 31.0% YoY to $1.3B (XBRL), with a 5-year CAGR of -11.4% (XBRL) for net income.
- Free cash flow of $1.3B (XBRL) supported $932M in dividends and $221M in share repurchases (XBRL).
- Debt-to-equity ratio of 1.44x (XBRL) and current ratio of 1.67x (XBRL) indicate moderate leverage and liquidity.
- Cash reserves of $1.8B (XBRL) and 86-day cash conversion cycle (XBRL) highlight working capital efficiency.
CORNING INC NYの売上高変化の要因
- •Revenue grew 0.8% YoY to $14.2B (XBRL), with a 5-year CAGR of +2.2% (XBRL). However, operating income fell 31.9% YoY to $1.4B (XBRL), reflecting a 5-year CAGR of -10.8% (XBRL). The decline in profitability aligns with inflationary pressures on raw materials and logistics (10-K). Revenue growth was driven by optical communications and display technologies, though the 2025 projection of $12.6B (XBRL) suggests potential market saturation or macroeconomic headwinds.
CORNING INC NYの営業利益変化の要因
- •Gross margin remained stable at 31.8% (XBRL), but operating margin fell to 10.1% (XBRL) (-31.9% YoY) and net margin to 9.3% (XBRL) (-31.0% YoY). EBITDA of $2.8B (XBRL) with a 19.5% margin (XBRL) highlights resilience in core operations despite declining net income. The 5-year CAGR for operating income (-10.8% YoY) and net income (-11.4% YoY) underscores long-term profitability challenges, likely tied to rising input costs and supply chain disruptions (10-K).
CORNING INC NYの事業リスクと対応
Inflationary pressures on commodities, raw materials, and logistics could increase costs and reduce profitability (10-K).
Supply chain disruptions, manufacturing delays, and material shortages may hinder production and customer demand fulfillment (10-K).
Inaccurate demand forecasting could lead to excess inventory, higher costs, or missed customer orders (10-K).
Health crises (e.g., pandemics) may disrupt operations, supply chains, and demand (10-K).
Geopolitical turmoil, trade restrictions, and natural disasters pose risks to global operations and stability (10-K).
CORNING INC NYの事業内容
Corning Inc. (GLW) is a global materials science and manufacturing company specializing in advanced products for optical communications, consumer electronics, life sciences, and environmental technologies (10-K). Its core business model revolves around selling high-performance materials, including optical fiber, precision glass, and ceramic solutions, leveraging its expertise in glass science and engineering (10-K). Key segments include Optical Communications (fiber and connectivity solutions), Display Technologies (precision glass for displays), Specialty Materials (ceramic and glass for electronics), Environmental Technologies (clean-air solutions), and Life Sciences (drug discovery tools) (10-K). Corning's competitive advantages include its deep manufacturing capabilities, R&D investment, and leadership in dynamic industries through proprietary technologies (10-K).
CORNING INC NYのAI業績分析レポート（2024年度）
Corning Inc. (GLW) FY2024 Annual Report Analysis
Highlights
Business Overview
Corning Inc. (GLW) is a global materials science and manufacturing company specializing in advanced products for optical communications, consumer electronics, life sciences, and environmental technologies (10-K). Its core business model revolves around selling high-performance materials, including optical fiber, precision glass, and ceramic solutions, leveraging its expertise in glass science and engineering (10-K). Key segments include Optical Communications (fiber and connectivity solutions), Display Technologies (precision glass for displays), Specialty Materials (ceramic and glass for electronics), Environmental Technologies (clean-air solutions), and Life Sciences (drug discovery tools) (10-K). Corning's competitive advantages include its deep manufacturing capabilities, R&D investment, and leadership in dynamic industries through proprietary technologies (10-K).
Revenue Analysis
Revenue grew 0.8% YoY to $14.2B (XBRL), with a 5-year CAGR of +2.2% (XBRL). However, operating income fell 31.9% YoY to $1.4B (XBRL), reflecting a 5-year CAGR of -10.8% (XBRL). The decline in profitability aligns with inflationary pressures on raw materials and logistics (10-K). Revenue growth was driven by optical communications and display technologies, though the 2025 projection of $12.6B (XBRL) suggests potential market saturation or macroeconomic headwinds.
Profitability Analysis
Gross margin remained stable at 31.8% (XBRL), but operating margin fell to 10.1% (XBRL) (-31.9% YoY) and net margin to 9.3% (XBRL) (-31.0% YoY). EBITDA of $2.8B (XBRL) with a 19.5% margin (XBRL) highlights resilience in core operations despite declining net income. The 5-year CAGR for operating income (-10.8% YoY) and net income (-11.4% YoY) underscores long-term profitability challenges, likely tied to rising input costs and supply chain disruptions (10-K).
Balance Sheet Analysis
Total assets declined from $30.8B (FY2022) to $29.5B (FY2024) (XBRL), with total equity falling from $12.9B (FY2020) to $11.6B (FY2024) (XBRL). The equity ratio of 39.2% (XBRL) and debt-to-equity ratio of 1.44x (XBRL) indicate moderate leverage. Cash reserves of $1.8B (XBRL) and a current ratio of 1.67x (XBRL) suggest strong liquidity. ROE of 11.4% (XBRL) and ROA of 4.5% (XBRL) reflect capital efficiency despite declining net income.
Cash Flow Analysis
Operating cash flow of $2.6B (XBRL) supported $1.3B in free cash flow (XBRL). Investing cash flow was -$1.4B (XBRL), likely reflecting capital expenditures, while financing cash flow was -$1.6B (XBRL), driven by $932M in dividends (XBRL) and $221M in share repurchases (XBRL). Depreciation and amortization totaled $1.3B (XBRL), aligning with the company's capital-intensive operations.
Working Capital Analysis
The cash conversion cycle (CCC) was 86 days (XBRL), with receivables days at 40 days (XBRL), inventory days at 100 days (XBRL), and payables days at 55 days (XBRL). The high inventory days suggest potential overstocking or slow-moving products, while payables days indicate strong supplier negotiation power.
Risks
Outlook
N/A
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