Corning Incorporated
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Corning Incorporated Financial Snapshot
Operating Performance
Fast Facts
The company reported revenue of US$6,632.00
Headquarters Address One Riverfront Plaza, Corning, 14831,Other
million during the fiscal year 2010 (2010). The
company's revenue grew at a CAGR of 6.40% during
Telephone + 16079749000
2006–2010, with an annual growth of 22.93% over
2009. In 2010, the company recorded an operating
Fax + 16079748091 margin of 26.67%, as against 7.21% in 2009.
Website www.corning.com
Revenue and Margins
Ticker Symbol, Stock Exchange GLW, New York Stock Exchange
Number of Employees 26,200
Fiscal Year End December
Revenue (in US$ million) 6,632.00
SWOT Analysis
Strengths Weaknesses Return on Equity
Diverse product portfolio Increased debt obligations The company recorded a return on equity (ROE) of
18.35% for 2010, as compared to its peers, 3M
Company (Ticker: MMM), Nippon Electric Glass Co.,
Strong financial performance Legal proceedings Ltd. (Ticker: 5214) and Fujikura Ltd. (Ticker: 5803),
which recorded ROEs of 26.08%, 13.65% and 1.41%
Strong research and development
Overdependence on limited customers respectively. The company reported a net profit
activities
margin of 26.67% in 2010.
Opportunities Threats
Return on Equity
Growth in LCD market Environmental regulations
Launch of new products Foreign exchange risks
Liquidity Position
The company reported a current ratio of 4.46 in 2010,
as compared to its peers, 3M Company, Nippon
Electric Glass Co., Ltd. and Fujikura Ltd., which
recorded current ratios of 2.01, 1.49 and 1.40
respectively. As of December 2010, the company
recorded cash and short-term investments of worth
US$6,350.00 million, against US$57.00 million current
debt. The company reported a debt to equity ratio of
0.12 in 2010 as compared to its peers, 3M Company,
Nippon Electric Glass Co., Ltd. and Fujikura Ltd.,
which recorded debt to equity ratios of 0.35, 0.24 and
0.84 respectively.
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Corning Incorporated - SWOT Profile Page 1
Corning Incorporated
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TABLE OF CONTENTS
1 Business Analysis ................................................................................................................................... 5
1.1 Company Overview ................................................................................................................................................5
1.2 Business Description ..............................................................................................................................................5
1.3 Major Products and Services .................................................................................................................................6
2 Analysis of Key Performance Indicators ............................................................................................... 7
2.1 Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
2.2 Key Financial Performance Indicators .................................................................................................................10
2.2.1 Revenue and Operating Profit .........................................................................................................................10
2.2.2 Asset, Liabilities and Capex .............................................................................................................................11
2.2.3 Operational Efficiency ......................................................................................................................................12
2.2.4 Solvency ..........................................................................................................................................................13
2.2.5 Valuation ..........................................................................................................................................................14
2.3 Competitive Benchmarking ..................................................................................................................................15
2.3.1 Market Capitalization .......................................................................................................................................15
2.3.2 Efficiency ..........................................................................................................................................................16
2.3.3 Capital Expenditure ..........................................................................................................................................17
2.3.4 Valuation ..........................................................................................................................................................18
2.3.5 Turnover – Inventory and Asset .......................................................................................................................19
2.3.6 Liquidity ............................................................................................................................................................20
3 Mergers & Acquisitions and Partnerships ........................................................................................... 21
3.1 M&A and Partnerships Strategy ...........................................................................................................................21
4 SWOT Analysis ...................................................................................................................................... 24
4.1 SWOT Analysis - Overview ..................................................................................................................................24
4.2 Strengths ..............................................................................................................................................................24
4.3 Weaknesses .........................................................................................................................................................24
4.4 Opportunities ............................................