Corning Incorporated
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.63B | $13.12B | $12.59B | $14.19B | $14.08B | $11.30B | $11.50B | $11.29B |
| Cost of Revenue | $10.01B | $8.84B | $8.66B | $9.68B | $9.02B | $7.77B | $7.47B | $6.83B |
| Gross Profit | $5.62B | $4.28B | $3.93B | $4.51B | $5.06B | $3.53B | $4.04B | $4.46B |
| Gross Margin | 36.0% | 32.6% | 31.2% | 31.8% | 36.0% | 31.2% | 35.1% | 39.5% |
| Operating Expenses | ||||||||
| Research & Development | $800.0M | $800.0M | $900.0M | $900.0M | $800.0M | $1.00B | $800.0M | $807.0M |
| SG&A Expense | $2.12B | $1.93B | $1.84B | $1.90B | $1.83B | $1.75B | $1.59B | $1.80B |
| Operating Income | $2.28B | $1.14B | $890.0M | $1.44B | $2.11B | $509.0M | $1.31B | $1.58B |
| Operating Margin | 14.6% | 8.7% | 7.1% | 10.1% | 15.0% | 4.5% | 11.4% | 14.0% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $2.05B | $813.0M | $816.0M | $1.80B | $2.43B | $634.0M | $1.22B | $1.50B |
| Income Tax Expense | $310.0M | $221.0M | $168.0M | $411.0M | $491.0M | $111.0M | $256.0M | $437.0M |
| Net Income | $1.60B | $506.0M | $581.0M | $1.32B | $1.91B | $512.0M | $960.0M | $1.07B |
| Net Margin | 10.2% | 3.9% | 4.6% | 9.3% | 13.5% | 4.5% | 8.3% | 9.4% |
| EPS (Basic) | $1.87 | $0.59 | $0.69 | $1.56 | $1.30 | $0.54 | $1.11 | $1.19 |
| EPS (Diluted) | $1.83 | $0.58 | $0.68 | $1.54 | $1.28 | $0.54 | $1.07 | $1.13 |
| Shares Outstanding (Basic) | 855.0M | 853.0M | 848.0M | 843.0M | 828.0M | 761.0M | 776.0M | 816.0M |
| Shares Outstanding (Diluted) | 871.0M | 869.0M | 859.0M | 857.0M | 844.0M | 772.0M | 899.0M | 941.0M |
| Dividends Per Share | $1.12 | $1.12 | $1.12 | $1.08 | $0.96 | $0.88 | $0.80 | $0.72 |