Fabrinet (FN) is undervalued and Corning Inc (GLW) is overvalued.
Against our estimates of intrinsic value, FN trades at the wider discount: a margin of safety of +65%, against -206% for GLW.
Values as of the 22 Sept 2026 close.
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $1164.03; the price of $403.80 is 65% below that value.
Leak Score 100/100 on 2 of 12 signals
Discounting its cash flows at 10.3% (average of 3 methods) values the shares at $52.22; the price of $159.69 is 206% above that value, and 72% of that value comes from beyond year five.
Leak Score 56/100 on 10 of 12 signals
| Metric | FN | GLW |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $403.80 | $159.69 |
| Intrinsic value | $1164.03 | $52.22 |
| Margin of safety | +65% | -206% |
| Leak Score | 100/100 (2/12) | 56/100 (10/12) |
| Market cap | $14.5B | $137.6B |
| Revenue growth, 5 years | 19.8% | 6.7% |
| Operating margin | 10.1% | 16.5% |
| Net margin | 10.2% | 11.2% |
| Return on equity | 21.3% | 16.1% |
| Debt to equity | 0.00 | 0.75 |
| P/E | 31.0x | 73.3x |
| Forward P/E | 18.6x | 36.7x |
| P/B | 5.9x | 11.5x |
| Dividend yield | — | 0.7% |