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CIEN

Ciena Corporation

CIEN

Ciena Corporation • NYSE
$204.21 ▲ 1.96% (+3.92)
Market Cap $28.86 B
52w High $214.17
52w Low $49.21
Dividend Yield 0%
P/E 208.38
Volume 1.26M
Outstanding Shares 141.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.219B ▲ $429.544M ▲ $50.308M ▲ 4.126% ▲ $0.35 ▲ $122.509M ▲
Q2-2025 $1.126B ▲ $386.411M ▲ $8.969M ▼ 0.797% ▼ $0.063 ▼ $74.582M ▼
Q1-2025 $1.072B ▼ $358.39M ▼ $44.572M ▲ 4.157% ▲ $0.31 ▲ $124.969M ▲
Q4-2024 $1.124B ▲ $367.173M ▲ $37.028M ▲ 3.294% ▲ $0.26 ▲ $106.809M ▲
Q3-2024 $942.308M $345.675M $14.23M 1.51% $0.099 $73.686M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.326B ▲ $5.749B ▲ $2.961B ▲ $2.787B ▲
Q2-2025 $1.254B ▲ $5.659B ▲ $2.883B ▲ $2.776B ▼
Q1-2025 $1.212B ▼ $5.573B ▼ $2.78B ▼ $2.793B ▼
Q4-2024 $1.251B ▲ $5.641B ▲ $2.825B ▲ $2.816B ▼
Q3-2024 $1.101B $5.575B $2.684B $2.891B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $50.308M ▲ $174.347M ▲ $19.714M ▲ $-84.902M ▲ $106.282M ▲ $229.969M ▲
Q2-2025 $8.969M ▼ $156.946M ▲ $19.644M ▲ $-107.786M ▼ $75.03M ▲ $128.208M ▲
Q1-2025 $44.572M ▲ $103.723M ▼ $-67.09M ▲ $-93.457M ▲ $-60.113M ▼ $76.839M ▼
Q4-2024 $37.028M ▲ $349.36M ▲ $-148.931M ▼ $-148.679M ▼ $51.497M ▲ $265.817M ▲
Q3-2024 $14.23M $-159.377M $-18.844M $-28.545M $-207.926M $-178.975M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Blue Planet Automation Software and Services Segment
Blue Planet Automation Software and Services Segment
 $20.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Global Services
Global Services
 $140.00M ▲$130.00M ▼$150.00M ▲$160.00M ▲
Networking Platforms Segment
Networking Platforms Segment
 $860.00M ▲$820.00M ▼$870.00M ▲$940.00M ▲
Platform Software and Services Segment
Platform Software and Services Segment
 $100.00M ▲$100.00M ▲$90.00M ▼$90.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Ciena’s revenue has grown modestly over the period but dipped in the most recent year, suggesting some slowdown after prior strength. Profitability has narrowed: operating and net income are noticeably weaker than a few years ago, with earnings per share well below earlier levels. This points to a business still generating gross profit at a healthy level, but facing pressure from costs, pricing, or mix that squeezes margins. Overall, the income statement shows a solid revenue base but a clear trend of thinner profits and more earnings volatility.

Balance Sheet

Balance Sheet The balance sheet looks generally sound but more leveraged than before. Total assets have edged up over time, and equity has held fairly steady, which is reassuring. However, cash has drifted down from earlier highs, while debt has climbed meaningfully and then stayed elevated. That shift means the company is now relying more on borrowing than it did a few years ago, which adds some financial risk but remains manageable as long as cash generation holds up.

Cash Flow

Cash Flow Cash generation has been choppy but directionally improving. Operating cash flow swung from strong, to weak, to negative, and then back to healthy in the latest year, which reflects the ups and downs in earnings and working capital. Free cash flow followed a similar path, turning negative at one point but returning to solidly positive more recently. Capital spending has been relatively modest and stable, indicating disciplined investment rather than aggressive expansion. Overall, the recent rebound in cash flow is a positive sign, but the historical volatility is worth noting.

Competitive Edge

Competitive Edge Ciena operates in a demanding, global communications equipment market but benefits from a strong position in optical networking. It serves many of the world’s largest service providers and cloud players, which gives it scale, deep relationships, and good visibility into future needs. Its technology—especially in coherent optics and software automation—helps it stand out against both traditional networking vendors and newer specialists. At the same time, competition is intense, customers are powerful and price‑sensitive, and demand tends to follow big carrier and cloud spending cycles, so its strong moat coexists with cyclical and competitive pressure.

Innovation and R&D

Innovation and R&D Innovation is a core strength. Ciena continues to push the envelope in coherent optical technology, with its WaveLogic family and new Coherent‑Lite approach aimed at data center and AI‑driven traffic. It is also moving up the stack with automation software like Blue Planet and expanding into IP‑optical convergence with products such as WaveRouter. The company is clearly reallocating R&D toward higher‑growth areas linked to cloud, high‑speed interconnect, and AI workloads, while de‑emphasizing slower segments. This focus supports its technological leadership but also requires sustained investment and careful execution to convert innovation into durable profits.

Summary

Ciena looks like a technology leader with a solid franchise in optical networking, but its recent financial picture is more mixed. Revenue is respectable yet no longer on a straight upward path, and margins have come under pressure, leading to softer earnings than a few years ago. The balance sheet remains reasonably healthy, though leverage has risen as debt increased and cash eased from prior peaks. Cash flow has recovered after a weak spell, which helps support ongoing R&D and product development. Strategically, the company is well aligned with long‑term themes such as cloud growth, data center traffic, and AI, and it enjoys meaningful competitive advantages. The key questions going forward are whether it can translate that innovation and strong market position into more stable growth and a sustained improvement in profitability, while managing higher leverage and the cyclical nature of its end markets.

NEWS

November 13, 2025 · 9:00 AM UTC

Ciena Announces Reporting Date and Web Broadcast for Fiscal Fourth Quarter and Year End 2025 Results

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November 7, 2025 · 5:07 PM UTC

Fidium and Ciena Supercharge Connectivity in Texas Triangle Megaregion

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October 28, 2025 · 5:00 AM UTC

Global content providers choose Colt and Ciena to meet growth in demand for AI content, gaming and streaming

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October 21, 2025 · 3:00 AM UTC

Trans Americas Fiber System Deploys Ciena High-Capacity Optical Technology on TAM-1 Submarine Cable

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October 14, 2025 · 9:00 AM UTC

EXA Infrastructure Turns Up New Ashburn-Atlanta Route With Ciena

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