Corning Incorporated — Earnings Quality Grade F
GLW · Technology
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 65 days, change +8 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 19.1%, CFFO 39.0%. Cash follows revenue
Expense Quality
Inventory 13.0% vs COGS 13.2%. Normal
CapEx growth 32.8% vs revenue 19.1%. Normal
SG&A/Gross Profit = 37.8%. Normal
Gross margin 36.0%, change +3.4pp. Stable
Cash Flow Quality
CFFO/NI = 1.69. Profits backed by cash
FCF $1.4B, FCF/NI = 0.89
Accruals ratio = -3.5%. Low accruals
Cash $1.5B covers only 16% of debt $9.4B
Balance Sheet Health
Goodwill+Intangibles $3.1B = 27% of equity. Manageable
Debt/EBITDA = 2.5x. Healthy
Other assets 9.6% vs revenue 19.1%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 1% YoY. Normal
Manipulation Score
M-Score = -2.37 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10