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Ciena (CIEN) Financials

Ciena logo
$179.53 +6.95 (+4.03%)
Closing price 03:59 PM Eastern
Extended Trading
$178.75 -0.78 (-0.43%)
As of 04:10 PM Eastern
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Annual Income Statements for Ciena

Annual Income Statements for Ciena

This table shows Ciena's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 11/3/2018 11/2/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Net Income / (Loss) Attributable to Common Shareholders		 -41 12 73 1,262 -345 278 361 500 153 255 84
Consolidated Net Income / (Loss)		 -41 12 73 1,262 -345 253 361 500 153 255 84
Net Income / (Loss) Continuing Operations		 -41 12 73 1,262 -345 278 361 500 153 255 84
Total Pre-Tax Income 		-27 24 87 156 149 338 456 463 183 324 120
Total Operating Income		 46 100 156 215 230 347 487 495 223 358 167
Total Gross Profit		 948 1,076 2,601 1,246 1,315 1,542 1,653 1,722 1,560 1,879 1,720
Total Revenue		 2,288 2,446 2,601 2,802 3,094 3,572 3,532 3,621 3,633 4,387 4,015
Operating Revenue		 2,288 2,446 2,601 2,802 3,094 3,572 3,532 3,621 3,633 4,387 4,015
Total Cost of Revenue		 1,340 1,370 0.00 1,556 1,780 2,030 1,879 1,899 2,072 2,508 2,295
Operating Cost of Revenue		 1,340 1,370 - 1,556 1,780 2,030 1,879 1,899 2,072 2,508 2,295
Total Operating Expenses		 903 975 2,444 1,031 1,085 1,171 1,166 1,227 1,338 1,521 1,553
Selling, General & Admin Expense		 127 123 133 143 160 174 170 182 179 215 221
Marketing Expense		 328 334 350 356 394 423 416 452 467 491 511
Research & Development Expense		 401 414 452 475 492 548 530 537 625 751 767
Amortization Expense		 46 70 62 33 16 22 23 24 33 37 30
Restructuring Charge		 0.35 34 9.55 24 23 3.37 27 32 34 27 25
Total Other Income / (Expense), net		 -72 -77 -69 -59 -81 -34 -31 -33 -40 -34 -47
Interest Expense		 47 51 57 60 69 37 32 31 47 96 97
Interest & Investment Income		 - - - 0.91 -12 3.88 0.96 -1.77 6.75 62 50
Income Tax Expense		 14 12 14 -1,106 493 60 95 -37 30 69 36
Basic Earnings per Share		 ($0.38) $0.10 $0.52 $8.89 ($2.40) $1.63 $2.34 $3.22 $1.01 $1.71 $0.58
Weighted Average Basic Shares Outstanding		 105.78M 118.42M 138.31M 142.00M 143.74M 155.72M 154.29M 155.28M 151.21M 148.97M 144.72M
Diluted Earnings per Share		 ($0.38) $0.10 $0.51 $7.53 ($2.49) $1.61 $2.32 $3.19 $1.00 $1.71 $0.58
Weighted Average Diluted Shares Outstanding		 105.78M 120.10M 150.70M 169.92M 143.74M 157.61M 155.96M 156.74M 152.19M 149.38M 145.96M
Weighted Average Basic & Diluted Shares Outstanding		 106.90M 116.70M 139.60M 142M 143.60M 155.50M 154.56M 154.88M 148.42M 144.83M 142.12M

Quarterly Income Statements for Ciena

This table shows Ciena's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/28/2023 4/29/2023 7/29/2023 10/28/2023 1/27/2024 4/27/2024 7/27/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025
Net Income / (Loss) Attributable to Common Shareholders		 76 58 30 91 50 -17 14 37 45 8.97 50
Consolidated Net Income / (Loss)		 76 58 30 91 50 -17 14 37 45 8.97 50
Net Income / (Loss) Continuing Operations		 76 58 30 91 50 -17 14 37 45 8.97 50
Total Pre-Tax Income 		101 87 64 71 72 -16 16 48 69 19 66
Total Operating Income		 85 103 78 91 85 -3.97 27 59 81 33 74
Total Gross Profit		 456 488 449 486 467 389 404 460 472 453 503
Total Revenue		 1,057 1,133 1,068 1,129 1,038 911 942 1,124 1,072 1,126 1,219
Operating Revenue		 1,057 1,133 1,068 1,129 1,038 911 942 1,124 1,072 1,126 1,219
Total Cost of Revenue		 601 645 619 643 571 522 538 664 600 673 716
Operating Cost of Revenue		 601 645 619 643 571 522 538 664 600 673 716
Total Operating Expenses		 371 385 371 395 382 393 377 401 391 420 430
Selling, General & Admin Expense		 51 51 49 64 55 50 58 58 54 57 61
Marketing Expense		 124 125 118 124 128 124 122 137 137 140 149
Research & Development Expense		 182 190 189 189 187 195 189 196 193 215 212
Amortization Expense		 7.44 9.85 9.49 11 7.25 7.95 7.19 7.19 6.55 6.55 6.56
Restructuring Charge		 6.86 9.01 4.23 7.21 4.97 16 1.36 2.61 1.54 1.95 1.77
Total Other Income / (Expense), net		 16 -15 -14 -21 -13 -12 -10 -11 -12 -14 -7.72
Interest Expense		 16 24 24 32 24 24 24 25 24 22 23
Interest & Investment Income		 32 8.55 10 11 11 12 14 14 12 7.87 15
Income Tax Expense		 25 30 35 -21 22 0.82 2.13 11 24 10 16
Basic Earnings per Share		 $0.51 $0.39 $0.20 $0.61 $0.34 ($0.12) $0.10 $0.26 $0.31 $0.06 $0.35
Weighted Average Basic Shares Outstanding		 149.08M 149.62M 149.69M 148.97M 145.29M 144.91M 144.39M 144.72M 142.88M 142.50M 141.85M
Diluted Earnings per Share		 $0.51 $0.38 $0.20 $0.62 $0.34 ($0.12) $0.10 $0.26 $0.31 $0.06 $0.35
Weighted Average Diluted Shares Outstanding		 149.55M 150.15M 149.98M 149.38M 145.85M 144.91M 145.36M 145.96M 145.94M 144.97M 144.50M
Weighted Average Basic & Diluted Shares Outstanding		 149.16M 149.50M 147.84M 144.83M 144.60M 143.71M 144.43M 142.12M 142.15M 141.37M 141.06M

Annual Cash Flow Statements for Ciena

This table details how cash moves in and out of Ciena's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 11/3/2018 11/2/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Net Change in Cash & Equivalents		 240 204 -13 -137 105 270 185 334 -428 16 -76
Net Cash From Operating Activities		 90 262 290 235 229 413 494 542 -168 168 515
Net Cash From Continuing Operating Activities		 90 262 290 235 229 413 494 542 -168 168 515
Net Income / (Loss) Continuing Operations		 -41 12 73 1,262 -345 253 361 500 153 255 84
Consolidated Net Income / (Loss)		 -41 12 73 1,262 -345 253 361 500 153 255 84
Depreciation Expense		 56 56 63 77 84 88 94 96 96 93 93
Amortization Expense		 57 80 78 46 26 35 39 36 44 50 41
Non-Cash Adjustments To Reconcile Net Income		 123 127 128 132 151 117 152 150 155 197 283
Changes in Operating Assets and Liabilities, net		 -105 -13 -53 -1,282 313 -80 -152 -241 -616 -426 14
Net Cash From Investing Activities		 -106 -43 -296 -61 -19 24 -220 -91 -101 -383 -306
Net Cash From Continuing Investing Activities		 -106 -43 -296 -61 -19 24 -220 -91 -101 -383 -306
Purchase of Property, Plant & Equipment		 -48 -62 -107 -95 -68 -63 -83 -80 -91 -106 -137
Acquisitions		 - - -32 0.00 -83 0.00 -28 0.00 -62 -230 0.00
Purchase of Investments		 -255 -247 -388 -302 -289 -162 -220 -166 -651 -255 -311
Sale and/or Maturity of Investments		 195 229 231 335 419 249 110 150 702 208 141
Net Cash From Financing Activities		 259 -8.05 -4.23 -311 -99 -279 -87 -117 -133 229 -285
Net Cash From Continuing Financing Activities		 259 -8.05 -4.23 -311 -99 -168 -87 -117 -133 229 -285
Repayment of Debt		 -7.89 -38 -276 -331 -312 -8.19 -5.58 -6.93 -11 -16 -14
Repurchase of Common Equity		 - - 0.00 0.00 -111 -150 -75 -91 -501 -242 -255
Issuance of Debt		 249 0.00 249 0.00 305 - 0.00 0.00 400 498 0.00
Issuance of Common Equity		 18 30 23 20 23 23 28 28 30 31 34
Other Financing Activities, net		 - - 0.00 0.00 -4.76 -32 -35 -47 -52 -41 -51
Effect of Exchange Rate Changes		 -1.72 -6.68 -2.39 0.49 -5.86 0.48 -1.64 -0.20 -26 2.15 1.25
Cash Interest Paid		 36 41 47 47 45 40 33 30 43 84 93
Cash Income Taxes Paid		 11 11 15 22 27 34 53 73 35 78 55

Quarterly Cash Flow Statements for Ciena

This table details how cash moves in and out of Ciena's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/28/2023 4/29/2023 7/29/2023 10/28/2023 1/27/2024 4/27/2024 7/27/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025
Net Change in Cash & Equivalents		 60 113 -50 -107 254 -173 -208 51 -60 75 106
Net Cash From Operating Activities		 -266 230 8.69 195 266 58 -159 349 104 157 174
Net Cash From Continuing Operating Activities		 -266 230 8.69 195 266 58 -159 349 104 157 174
Net Income / (Loss) Continuing Operations		 76 58 30 91 50 -17 14 37 45 8.97 50
Consolidated Net Income / (Loss)		 76 58 30 91 50 -17 14 37 45 8.97 50
Depreciation Expense		 22 24 23 23 23 23 23 24 25 25 27
Amortization Expense		 10 13 13 13 10 11 9.95 9.95 8.78 8.78 8.79
Non-Cash Adjustments To Reconcile Net Income		 20 61 50 66 61 66 46 110 54 68 59
Changes in Operating Assets and Liabilities, net		 -394 74 -107 1.82 123 -25 -252 169 -28 46 29
Net Cash From Investing Activities		 -176 -101 -8.07 -98 18 -157 -19 -149 -67 20 20
Net Cash From Continuing Investing Activities		 -176 -101 -8.07 -98 18 -157 -19 -149 -67 20 20
Purchase of Property, Plant & Equipment		 -30 -28 -25 -23 -17 -17 -20 -84 -27 -29 -40
Purchase of Investments		 -39 -73 -10 -133 -19 -169 -31 -91 -95 -61 -37
Sale and/or Maturity of Investments		 123 0.00 27 57 54 29 32 26 55 110 97
Net Cash From Financing Activities		 492 -13 -53 -197 -35 -73 -29 -149 -93 -108 -85
Net Cash From Continuing Financing Activities		 492 -13 -53 -197 -35 -73 -29 -149 -93 -108 -85
Repayment of Debt		 -5.73 -2.97 -3.18 -3.94 -2.40 -3.08 -2.93 -5.85 -22 -2.90 -2.90
Repurchase of Common Equity		 0.00 - -58 -184 -38 -57 -31 -129 -81 -87 -82
Issuance of Common Equity		 14 0.34 17 0.08 17 -0.06 17 -0.00 17 -0.00 19
Other Financing Activities, net		 -14 -9.99 -8.74 -8.84 -11 -13 -12 -14 -27 -18 -19
Cash Interest Paid		 11 27 19 28 19 27 19 28 26 18 25
Cash Income Taxes Paid		 8.38 16 44 10 8.26 21 13 13 10 45 29

Annual Balance Sheets for Ciena

This table presents Ciena's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 10/31/2018 10/31/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Total Assets		 2,073 2,695 2,874 3,952 3,757 3,893 4,181 4,865 5,070 5,601 5,641
Total Current Assets		 1,693 1,864 2,013 2,006 2,143 2,382 2,611 3,189 3,386 3,576 3,544
Cash & Equivalents		 587 791 778 641 745 904 1,089 1,423 994 1,011 935
Short-Term Investments		 140 135 275 279 149 110 151 181 154 105 316
Accounts Receivable		 519 551 576 622 787 725 719 885 921 1,004 909
Inventories, net		 255 191 211 267 263 345 344 374 947 1,051 820
Prepaid Expenses		 193 196 173 197 199 298 308 326 370 406 564
Plant, Property, & Equipment, net		 127 192 288 308 292 287 0.00 285 268 280 338
Total Noncurrent Assets		 253 639 572 1,637 1,322 1,225 1,570 1,391 1,416 1,746 1,759
Long-Term Investments		 50 95 90 50 59 10 82 70 35 134 81
Goodwill		 0.00 256 267 267 298 298 311 312 328 445 445
Intangible Assets		 129 203 147 101 148 113 97 65 70 206 165
Noncurrent Deferred & Refundable Income Taxes		 - - 1.12 1,155 745 715 648 800 824 809 886
Other Noncurrent Operating Assets		 74 85 67 64 72 89 432 144 159 152 182
Total Liabilities & Shareholders' Equity		 2,073 2,695 2,874 3,952 3,757 3,893 4,181 4,865 5,070 5,601 5,641
Total Liabilities		 2,142 2,074 2,107 1,815 1,827 1,721 1,671 1,845 2,357 2,753 2,825
Total Current Liabilities		 781 667 892 1,038 963 846 761 909 1,041 932 1,000
Short-Term Debt		 190 2.50 236 352 7.00 7.00 6.93 6.93 6.93 12 12
Accounts Payable		 210 222 236 260 341 345 292 356 516 318 423
Accrued Expenses		 277 316 310 323 340 383 334 409 361 431 394
Current Deferred Revenue		 105 126 109 102 111 111 109 118 138 154 156
Other Current Liabilities		 - - - 0.00 164 - 19 19 19 17 14
Total Noncurrent Liabilities		 1,361 1,407 1,216 778 864 875 911 936 1,316 1,821 1,825
Long-Term Debt		 1,275 1,272 1,017 584 686 680 676 670 1,061 1,543 1,533
Noncurrent Deferred Revenue		 41 63 74 83 58 45 50 57 62 74 81
Other Noncurrent Operating Liabilities		 45 73 124 111 119 149 185 208 193 204 211
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -70 621 766 2,136 1,929 2,173 2,510 3,020 2,713 2,848 2,816
Total Preferred & Common Equity		 -70 621 766 2,136 1,929 2,173 2,510 3,020 2,713 2,848 2,816
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -70 621 766 2,136 1,929 2,173 2,510 3,020 2,713 2,848 2,816
Common Stock		 5,956 6,642 6,717 6,812 6,883 6,839 6,828 6,805 6,392 6,264 6,156
Retained Earnings		 -6,010 -5,999 -5,926 -4,664 -4,948 -4,644 -4,283 -3,785 -3,632 -3,377 -3,293
Accumulated Other Comprehensive Income / (Loss)		 -15 -22 -24 -11 -5.78 -22 -35 0.44 -47 -38 -47

Quarterly Balance Sheets for Ciena

This table presents Ciena's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/30/2022 1/28/2023 4/29/2023 7/29/2023 1/27/2024 4/27/2024 7/27/2024 2/1/2025 5/3/2025 8/2/2025
Total Assets		 4,901 5,672 5,776 5,723 5,593 5,615 5,575 5,573 5,659 5,749
Total Current Assets		 3,188 3,763 3,869 3,811 3,609 3,541 3,538 3,492 3,564 3,686
Cash & Equivalents		 860 1,055 1,168 1,118 1,265 1,091 883 875 950 1,056
Short-Term Investments		 322 100 150 142 107 166 218 337 304 270
Accounts Receivable		 802 1,055 1,037 997 865 840 900 939 930 1,026
Inventories, net		 827 1,178 1,098 1,193 985 1,023 937 845 874 860
Prepaid Expenses		 378 375 416 362 387 422 600 496 506 474
Plant, Property, & Equipment, net		 0.00 279 278 287 280 274 299 320 349 368
Total Noncurrent Assets		 1,712 1,631 1,629 1,624 1,704 1,799 1,738 1,761 1,746 1,694
Long-Term Investments		 78 3.24 25 21 104 166 112 105 92 64
Goodwill		 329 447 446 447 445 445 445 444 445 445
Intangible Assets		 77 245 231 219 196 185 175 156 147 139
Noncurrent Deferred & Refundable Income Taxes		 798 797 795 792 814 822 832 868 864 852
Other Noncurrent Operating Assets		 431 139 131 145 145 181 174 187 198 194
Total Liabilities & Shareholders' Equity		 4,901 5,672 5,776 5,723 5,593 5,615 5,575 5,573 5,659 5,749
Total Liabilities		 2,233 2,834 2,867 2,776 2,670 2,735 2,684 2,780 2,883 2,961
Total Current Liabilities		 915 1,018 1,058 966 841 912 871 957 1,047 1,123
Short-Term Debt		 6.93 12 12 12 12 12 12 12 12 12
Accounts Payable		 439 478 445 393 316 332 317 396 419 465
Accrued Expenses		 - 344 381 356 330 355 347 362 381 436
Current Deferred Revenue		 148 165 203 188 167 197 179 174 222 196
Other Current Liabilities		 321 19 17 17 17 16 16 13 13 15
Total Noncurrent Liabilities		 1,318 1,816 1,809 1,810 1,828 1,822 1,814 1,823 1,836 1,838
Long-Term Debt		 1,062 1,547 1,546 1,544 1,543 1,541 1,538 1,531 1,529 1,526
Noncurrent Deferred Revenue		 62 67 68 72 77 80 78 83 83 81
Other Noncurrent Operating Liabilities		 193 202 195 195 209 201 198 209 224 230
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,668 2,838 2,909 2,947 2,923 2,880 2,891 2,793 2,776 2,787
Total Preferred & Common Equity		 2,668 2,838 2,909 2,947 2,923 2,880 2,891 2,793 2,776 2,787
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,668 2,838 2,909 2,947 2,923 2,880 2,891 2,793 2,776 2,787
Common Stock		 6,379 6,424 6,447 6,427 6,276 6,247 6,262 6,110 6,056 6,022
Retained Earnings		 -3,690 -3,556 -3,498 -3,469 -3,328 -3,345 -3,330 -3,249 -3,240 -3,190
Accumulated Other Comprehensive Income / (Loss)		 -22 -29 -40 -12 -25 -22 -40 -67 -40 -45

Annual Metrics And Ratios for Ciena

This table displays calculated financial ratios and metrics derived from Ciena's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 11/3/2018 11/2/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.88% 6.88% 6.33% 7.73% 10.44% 15.44% -1.12% 2.51% 0.33% 20.75% -8.47%
EBITDA Growth		 11.48% 58.18% 35.40% 18.34% 0.69% 38.10% 31.95% 1.31% -42.16% 37.66% -39.95%
EBIT Growth		 371.87% 266.61% 91.61% 49.53% 7.09% 50.80% 40.43% 1.72% -55.02% 60.47% -53.40%
NOPAT Growth		 2,674.87% 54.14% 165.06% 1,227.76% -130.69% 153.58% 35.19% 38.77% -65.14% 50.81% -58.54%
Net Income Growth		 52.43% 128.71% 522.13% 1,638.61% -127.31% 173.53% 42.56% 38.45% -69.43% 66.66% -67.05%
EPS Growth		 54.22% 126.32% 410.00% 1,376.47% -133.07% 164.66% 44.10% 37.50% -68.65% 71.00% -66.08%
Operating Cash Flow Growth		 101.03% 191.83% 10.46% -18.87% -2.39% 80.21% 19.49% 9.72% -130.97% 200.34% 205.67%
Free Cash Flow Firm Growth		 243.84% -464.54% 161.84% 299.56% -119.47% 219.55% 195.53% 9.39% -200.97% 28.96% 187.87%
Invested Capital Growth		 -3.82% 41.34% 0.36% 139.79% -20.61% 9.99% 1.92% 8.12% 28.37% 21.43% -3.96%
Revenue Q/Q Growth		 0.33% 4.31% 0.94% 1.02% 5.27% 1.96% -3.80% 6.25% -1.90% 3.75% -0.13%
EBITDA Q/Q Growth		 -18.48% 6.50% 14.67% -3.49% 13.90% -0.08% 0.38% 7.50% -13.72% 3.16% -10.44%
EBIT Q/Q Growth		 -56.60% -16.00% 62.76% -1.77% 21.10% -0.76% 0.06% 9.73% -21.26% 4.09% -16.15%
NOPAT Q/Q Growth		 -2.97% 172.88% 90.72% 797.62% -151.36% -2.14% -5.61% 7.70% -18.20% 17.97% -39.47%
Net Income Q/Q Growth		 -105.96% 324.19% 227.47% 811.26% -145.87% 6.90% -4.06% 8.33% -23.07% 15.16% -39.22%
EPS Q/Q Growth		 -111.11% 211.11% 218.75% 709.68% -162.25% 10.27% -4.13% 8.14% -21.26% 15.54% -38.30%
Operating Cash Flow Q/Q Growth		 360.17% 4.29% 21.94% 0.78% -23.52% 71.32% -9.65% 14.26% -265.05% 504.19% 42.67%
Free Cash Flow Firm Q/Q Growth		 269.48% -299.38% 137.65% 385.41% -130.24% 95.32% -17.43% 21.01% -222.71% 45.57% 29.34%
Invested Capital Q/Q Growth		 -11.79% 64.94% -6.41% 105.07% -3.75% -6.58% -4.01% -5.00% 4.81% -2.12% -6.17%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 41.44% 43.98% 100.00% 44.47% 42.49% 43.17% 46.80% 47.56% 42.95% 42.83% 42.83%
EBITDA Margin		 5.82% 8.62% 10.97% 12.05% 10.99% 13.14% 17.54% 17.33% 9.99% 11.39% 7.47%
Operating Margin		 2.00% 4.11% 6.01% 7.66% 7.43% 9.71% 13.79% 13.68% 6.13% 8.15% 4.15%
EBIT Margin		 0.89% 3.06% 5.52% 7.66% 7.43% 9.71% 13.79% 13.68% 6.13% 8.15% 4.15%
Profit (Net Income) Margin		 -1.78% 0.48% 2.79% 45.04% -11.14% 7.09% 10.23% 13.82% 4.21% 5.81% 2.09%
Tax Burden Percent		 152.35% 49.10% 83.70% 808.29% -231.68% 75.04% 79.24% 108.09% 83.78% 78.73% 70.05%
Interest Burden Percent		 -130.48% 31.71% 60.39% 72.71% 64.70% 97.39% 93.63% 93.42% 81.91% 90.52% 71.93%
Effective Tax Rate		 0.00% 50.90% 16.30% -708.29% 331.68% 17.69% 20.76% -8.09% 16.22% 21.27% 29.95%
Return on Invested Capital (ROIC)		 5.07% 6.61% 14.93% 116.49% -28.24% 16.28% 20.81% 27.50% 8.08% 9.79% 3.78%
ROIC Less NNEP Spread (ROIC-NNEP)		 -5.20% -1.39% -17.04% -1,110.54% -156.44% 27.00% 25.85% 31.81% 14.15% -18.33% -8.87%
Return on Net Nonoperating Assets (RNNOA)		 48.29% -2.38% -4.47% -29.54% 11.29% -3.93% -5.38% -9.41% -2.75% -0.63% -0.81%
Return on Equity (ROE)		 53.37% 4.23% 10.46% 86.95% -16.96% 12.36% 15.43% 18.09% 5.33% 9.16% 2.96%
Cash Return on Invested Capital (CROIC)		 8.97% -27.65% 14.57% 34.21% -5.26% 6.77% 18.92% 19.70% -16.76% -9.57% 7.82%
Operating Return on Assets (OROA)		 1.06% 3.14% 5.16% 6.29% 5.97% 9.07% 12.06% 10.95% 4.49% 6.70% 2.96%
Return on Assets (ROA)		 -2.10% 0.49% 2.61% 36.98% -8.94% 6.63% 8.95% 11.06% 3.08% 4.78% 1.49%
Return on Common Equity (ROCE)		 53.37% 4.23% 10.46% 86.95% -16.96% 12.36% 15.43% 18.09% 5.33% 9.16% 2.96%
Return on Equity Simple (ROE_SIMPLE)		 58.37% 1.88% 9.47% 59.07% -17.87% 11.66% 14.40% 16.56% 5.64% 8.95% 2.98%
Net Operating Profit after Tax (NOPAT)		 32 49 131 1,736 -533 285 386 535 187 282 117
NOPAT Margin		 1.40% 2.02% 5.03% 61.95% -17.22% 7.99% 10.92% 14.79% 5.14% 6.42% 2.91%
Net Nonoperating Expense Percent (NNEP)		 10.28% 8.00% 31.98% 1,227.03% 128.19% -10.72% -5.04% -4.31% -6.07% 28.12% 12.65%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 4.94% 6.39% 2.68%
Cost of Revenue to Revenue		 58.56% 56.02% 0.00% 55.53% 57.51% 56.83% 53.20% 52.44% 57.05% 57.17% 57.17%
SG&A Expenses to Revenue		 5.54% 5.05% 5.11% 5.09% 5.18% 4.88% 4.80% 5.02% 4.94% 4.91% 5.50%
R&D to Revenue		 17.53% 16.94% 17.37% 16.97% 15.89% 15.34% 15.00% 14.82% 17.20% 17.11% 19.12%
Operating Expenses to Revenue		 39.45% 39.87% 93.99% 36.80% 35.06% 32.77% 33.01% 33.88% 36.82% 34.68% 38.68%
Earnings before Interest and Taxes (EBIT)		 20 75 144 215 230 347 487 495 223 358 167
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 133 211 285 338 340 469 619 628 363 500 300
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 5.24 3.52 1.42 2.37 2.59 2.42 2.79 2.63 2.13 3.28
Price to Tangible Book Value (P/TBV)		 0.00 20.11 7.66 1.72 3.08 3.20 2.89 3.18 3.09 2.76 4.19
Price to Revenue (P/Rev)		 0.78 1.33 1.04 1.08 1.48 1.58 1.72 2.32 1.97 1.38 2.30
Price to Earnings (P/E)		 0.00 278.82 37.20 2.41 0.00 20.27 16.82 16.82 46.75 23.80 110.05
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.36% 2.69% 41.58% 0.00% 4.93% 5.94% 5.95% 2.14% 4.20% 0.91%
Enterprise Value to Invested Capital (EV/IC)		 4.00 4.01 3.21 1.43 2.58 2.89 2.91 3.66 2.71 2.02 3.12
Enterprise Value to Revenue (EV/Rev)		 1.08 1.43 1.08 1.07 1.39 1.48 1.54 2.05 1.94 1.45 2.35
Enterprise Value to EBITDA (EV/EBITDA)		 18.57 16.64 9.85 8.89 12.67 11.29 8.78 11.81 19.37 12.75 31.50
Enterprise Value to EBIT (EV/EBIT)		 121.02 46.78 19.58 13.98 18.73 15.28 11.17 14.97 31.56 17.82 56.73
Enterprise Value to NOPAT (EV/NOPAT)		 77.33 71.09 21.51 1.73 0.00 18.57 14.10 13.85 37.67 22.63 80.98
Enterprise Value to Operating Cash Flow (EV/OCF)		 27.54 13.38 9.71 12.78 18.78 12.83 11.02 13.69 0.00 37.84 18.37
Enterprise Value to Free Cash Flow (EV/FCFF)		 43.72 0.00 22.04 5.89 0.00 44.66 15.51 19.33 0.00 0.00 39.10
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -21.04 2.05 1.64 0.44 0.36 0.32 0.27 0.22 0.39 0.55 0.55
Long-Term Debt to Equity		 -18.31 2.05 1.33 0.27 0.36 0.31 0.27 0.22 0.39 0.54 0.54
Financial Leverage		 -9.28 1.71 0.26 0.03 -0.07 -0.15 -0.21 -0.30 -0.19 0.03 0.09
Leverage Ratio		 -25.45 8.65 4.01 2.35 1.90 1.86 1.72 1.64 1.73 1.92 1.98
Compound Leverage Factor		 33.20 2.74 2.42 1.71 1.23 1.82 1.61 1.53 1.42 1.74 1.43
Debt to Total Capital		 104.99% 67.24% 62.06% 30.46% 26.44% 24.03% 21.40% 18.32% 28.25% 35.32% 35.42%
Short-Term Debt to Total Capital		 13.62% 0.13% 11.70% 11.47% 0.27% 0.24% 0.22% 0.19% 0.18% 0.27% 0.27%
Long-Term Debt to Total Capital		 91.37% 67.10% 50.37% 19.00% 26.17% 23.79% 21.18% 18.13% 28.07% 35.05% 35.15%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -4.99% 32.76% 37.94% 69.54% 73.56% 75.97% 78.60% 81.68% 71.75% 64.68% 64.58%
Debt to EBITDA		 11.00 6.05 4.39 2.77 2.04 1.46 1.10 1.08 2.94 3.11 5.15
Net Debt to EBITDA		 5.16 1.20 0.39 -0.10 -0.76 -0.72 -1.03 -1.59 -0.32 0.61 0.71
Long-Term Debt to EBITDA		 9.57 6.04 3.57 1.73 2.02 1.45 1.09 1.07 2.92 3.09 5.11
Debt to NOPAT		 45.79 25.84 9.59 0.54 -1.30 2.41 1.77 1.26 5.72 5.52 13.24
Net Debt to NOPAT		 21.50 5.13 0.85 -0.02 0.49 -1.18 -1.65 -1.86 -0.62 1.09 1.82
Long-Term Debt to NOPAT		 39.85 25.79 7.78 0.34 -1.29 2.38 1.75 1.25 5.68 5.48 13.14
Altman Z-Score		 -1.90 -0.64 -0.58 0.53 1.06 1.98 2.51 3.29 2.23 2.04 2.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.17 2.79 2.26 1.93 2.22 2.82 3.43 3.51 3.25 3.84 3.55
Quick Ratio		 1.60 2.21 1.83 1.49 1.75 2.06 2.57 2.74 1.99 2.27 2.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 57 -206 128 510 -99 119 351 384 -387 -275 242
Operating Cash Flow to CapEx		 186.28% 422.02% 270.11% 248.29% 339.06% 660.19% 597.16% 680.89% -184.72% 158.51% 376.56%
Free Cash Flow to Firm to Interest Expense		 1.20 -4.03 2.24 8.56 -1.44 3.17 10.97 12.44 -8.23 -2.87 2.49
Operating Cash Flow to Interest Expense		 1.91 5.12 5.09 3.95 3.32 11.03 15.44 17.56 -3.57 1.76 5.30
Operating Cash Flow Less CapEx to Interest Expense		 0.88 3.91 3.21 2.36 2.34 9.36 12.86 14.99 -5.50 0.65 3.89
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.18 1.03 0.93 0.82 0.80 0.93 0.87 0.80 0.73 0.82 0.71
Accounts Receivable Turnover		 4.54 4.57 4.61 4.68 4.39 4.73 4.89 4.51 4.02 4.56 4.20
Inventory Turnover		 5.32 6.15 0.00 6.50 6.72 6.68 5.45 5.28 3.14 2.51 2.45
Fixed Asset Turnover		 18.58 15.35 10.83 9.39 10.31 12.34 0.00 0.00 13.14 16.01 13.00
Accounts Payable Turnover		 5.77 6.34 0.00 6.27 5.93 5.92 5.90 5.86 4.75 6.01 6.19
Days Sales Outstanding (DSO)		 80.36 79.83 79.09 78.06 83.08 77.22 74.62 80.87 90.72 80.07 86.93
Days Inventory Outstanding (DIO)		 68.61 59.38 0.00 56.11 54.34 54.64 66.95 69.07 116.33 145.37 148.78
Days Payable Outstanding (DPO)		 63.28 57.53 0.00 58.18 61.60 61.62 61.83 62.29 76.81 60.69 58.93
Cash Conversion Cycle (CCC)		 85.69 81.68 79.09 75.99 75.82 70.24 79.74 87.65 130.24 164.76 176.78
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 618 874 877 2,103 1,669 1,836 1,871 2,023 2,597 3,154 3,029
Invested Capital Turnover		 3.63 3.28 2.97 1.88 1.64 2.04 1.91 1.86 1.57 1.53 1.30
Increase / (Decrease) in Invested Capital		 -25 256 3.16 1,226 -433 167 35 152 574 557 -125
Enterprise Value (EV)		 2,474 3,506 2,811 3,002 4,306 5,299 5,440 7,414 7,032 6,370 9,452
Market Capitalization		 1,786 3,253 2,700 3,035 4,566 5,636 6,079 8,411 7,148 6,064 9,239
Book Value per Share		 ($0.65) $4.61 $5.50 $14.97 $13.53 $14.05 $16.26 $19.49 $18.31 $19.27 $19.50
Tangible Book Value per Share		 ($1.86) $1.20 $2.53 $12.39 $10.40 $11.39 $13.62 $17.06 $15.63 $14.87 $15.28
Total Capital		 1,395 1,895 2,020 3,072 2,623 2,860 3,193 3,697 3,781 4,403 4,361
Total Debt		 1,465 1,274 1,254 936 693 687 683 677 1,068 1,555 1,545
Total Long-Term Debt		 1,275 1,272 1,017 584 686 680 676 670 1,061 1,543 1,533
Net Debt		 688 253 111 -33 -260 -337 -638 -997 -116 305 213
Capital Expenditures (CapEx)		 48 62 107 95 68 63 83 80 91 106 137
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 375 274 305 401 292 529 618 683 1,204 1,540 1,305
Debt-free Net Working Capital (DFNWC)		 1,102 1,200 1,358 1,321 1,187 1,543 1,857 2,287 2,352 2,655 2,556
Net Working Capital (NWC)		 912 1,197 1,122 969 1,180 1,536 1,850 2,280 2,345 2,644 2,545
Net Nonoperating Expense (NNE)		 73 38 58 474 -188 32 25 35 34 27 33
Net Nonoperating Obligations (NNO)		 688 253 111 -33 -260 -337 -638 -997 -116 305 213
Total Depreciation and Amortization (D&A)		 113 136 142 123 110 123 133 132 140 142 133
Debt-free, Cash-free Net Working Capital to Revenue		 16.40% 11.19% 11.73% 14.32% 9.44% 14.81% 17.50% 18.86% 33.14% 35.11% 32.51%
Debt-free Net Working Capital to Revenue		 48.16% 49.05% 52.22% 47.15% 38.35% 43.19% 52.59% 63.16% 64.75% 60.54% 63.67%
Net Working Capital to Revenue		 39.86% 48.95% 43.13% 34.57% 38.12% 43.00% 52.39% 62.97% 64.56% 60.27% 63.38%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.38) $0.10 $0.52 $8.89 ($2.40) $1.63 $2.34 $3.22 $1.01 $1.71 $0.58
Adjusted Weighted Average Basic Shares Outstanding		 105.78M 118.42M 138.31M 142.00M 143.74M 155.72M 154.29M 155.28M 151.21M 148.97M 144.72M
Adjusted Diluted Earnings per Share		 ($0.38) $0.10 $0.51 $7.53 ($2.49) $1.61 $2.32 $3.19 $1.00 $1.71 $0.58
Adjusted Weighted Average Diluted Shares Outstanding		 105.78M 120.10M 150.70M 169.92M 143.74M 157.61M 155.96M 156.74M 152.19M 149.38M 145.96M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $1.63 $0.00 $3.22 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 106.99M 135.79M 140.38M 143.68M 156.48M 154.05M 154.56M 154.88M 148.42M 144.83M 142.12M
Normalized Net Operating Profit after Tax (NOPAT)		 32 94 139 167 177 288 407 369 216 303 134
Normalized NOPAT Margin		 1.41% 3.85% 5.33% 5.96% 5.73% 8.07% 11.52% 10.20% 5.93% 6.91% 3.34%
Pre Tax Income Margin		 -1.17% 0.97% 3.33% 5.57% 4.81% 9.45% 12.91% 12.78% 5.02% 7.38% 2.99%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.43 1.46 2.52 3.61 3.33 9.26 15.23 16.06 4.74 3.73 1.72
NOPAT to Interest Expense		 0.68 0.96 2.30 29.17 -7.71 7.62 12.07 17.36 3.97 2.94 1.20
EBIT Less CapEx to Interest Expense		 -0.59 0.25 0.64 2.02 2.35 7.59 12.65 13.48 2.81 2.62 0.31
NOPAT Less CapEx to Interest Expense		 -0.34 -0.25 0.41 27.58 -8.68 5.95 9.48 14.78 2.04 1.83 -0.21
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% -32.20% 59.22% 20.63% 18.25% 327.53% 95.05% 303.14%

Quarterly Metrics And Ratios for Ciena

This table displays calculated financial ratios and metrics derived from Ciena's official financial filings.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/28/2023 4/29/2023 7/29/2023 10/28/2023 1/27/2024 4/27/2024 7/27/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 25.11% 19.32% 23.03% 16.32% -1.78% -19.58% -11.76% -0.48% 3.33% 23.61% 29.40%
EBITDA Growth		 22.80% 50.24% 85.94% 13.60% -0.25% -78.57% -47.75% -27.33% -2.84% 122.72% 82.98%
EBIT Growth		 42.02% 75.96% 188.54% 18.16% -0.69% -103.86% -65.81% -35.15% -4.69% 928.30% 174.97%
NOPAT Growth		 28.37% 40.80% 88.12% 73.32% -8.55% -104.10% -35.62% -61.33% -10.62% 658.10% 141.55%
Net Income Growth		 66.38% 48.13% 182.85% 58.21% -35.01% -129.22% -52.14% -59.40% -10.04% 153.23% 253.53%
EPS Growth		 75.86% 52.00% 185.71% 58.97% -33.33% -131.58% -50.00% -58.06% -8.82% 150.00% 250.00%
Operating Cash Flow Growth		 -388.21% 115.68% 104.23% 1,447.43% 200.16% -74.56% -1,934.45% 78.73% -61.02% 168.41% 209.39%
Free Cash Flow Firm Growth		 -419.25% -250.64% -115.19% 13.30% 130.87% 113.21% 102.45% 138.92% -87.63% -50.89% 1,912.81%
Invested Capital Growth		 45.97% 41.02% 30.03% 21.43% -7.30% -3.65% 0.18% -3.96% 0.53% -1.30% -9.09%
Revenue Q/Q Growth		 8.81% 7.21% -5.72% 5.77% -8.13% -12.23% 3.46% 19.29% -4.61% 5.00% 8.31%
EBITDA Q/Q Growth		 4.51% 18.71% -18.30% 12.08% -8.24% -74.50% 99.22% 55.86% 22.70% -41.54% 63.67%
EBIT Q/Q Growth		 10.29% 20.65% -23.93% 16.73% -7.31% -104.69% 774.48% 121.40% 36.23% -59.28% 123.91%
NOPAT Q/Q Growth		 -5.88% 5.68% -46.66% 226.69% -50.34% -104.73% 938.35% 96.21% 14.80% -70.45% 262.85%
Net Income Q/Q Growth		 32.26% -24.38% -48.43% 206.73% -45.67% -134.01% 184.46% 160.21% 20.37% -79.88% 460.91%
EPS Q/Q Growth		 30.77% -25.49% -47.37% 210.00% -45.16% -135.29% 183.33% 160.00% 19.23% -80.65% 483.33%
Operating Cash Flow Q/Q Growth		 -1,731.11% 186.51% -96.22% 2,149.91% 36.12% -78.02% -372.57% 319.20% -70.31% 51.31% 11.09%
Free Cash Flow Firm Q/Q Growth		 -89.01% 12.05% 15.81% 38.05% 167.29% -62.36% -84.37% 883.04% -78.62% 49.45% 540.68%
Invested Capital Q/Q Growth		 24.73% -3.58% 3.15% -2.12% -4.78% 0.22% 7.25% -6.17% -0.33% -1.60% -1.21%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 43.16% 43.06% 42.04% 43.05% 45.00% 42.67% 42.87% 40.92% 44.00% 40.22% 41.26%
EBITDA Margin		 11.15% 12.34% 10.69% 11.33% 11.32% 3.29% 6.33% 8.27% 10.64% 5.93% 8.95%
Operating Margin		 8.07% 9.08% 7.32% 8.08% 8.16% -0.44% 2.84% 5.27% 7.52% 2.92% 6.03%
EBIT Margin		 8.07% 9.08% 7.32% 8.08% 8.16% -0.44% 2.84% 5.27% 7.52% 2.92% 6.03%
Profit (Net Income) Margin		 7.22% 5.09% 2.78% 8.07% 4.77% -1.85% 1.51% 3.29% 4.16% 0.80% 4.13%
Tax Burden Percent		 75.25% 65.91% 46.21% 129.33% 69.29% 105.12% 87.01% 77.11% 64.98% 47.17% 76.43%
Interest Burden Percent		 118.90% 85.08% 82.26% 77.24% 84.49% 404.26% 61.16% 81.10% 85.04% 57.90% 89.51%
Effective Tax Rate		 24.75% 34.09% 53.79% -29.33% 30.71% 0.00% 12.99% 22.89% 35.02% 52.83% 23.57%
Return on Invested Capital (ROIC)		 8.55% 9.03% 5.02% 15.95% 7.91% -0.41% 3.08% 5.28% 6.57% 1.96% 6.79%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.93% 14.76% -10.04% -12.38% 4.12% -8.58% 0.12% 1.94% 1.43% -2.07% 4.36%
Return on Net Nonoperating Assets (RNNOA)		 0.13% -0.91% -0.15% -0.42% 0.34% -0.51% 0.01% 0.18% 0.08% -0.12% 0.37%
Return on Equity (ROE)		 8.68% 8.11% 4.87% 15.53% 8.25% -0.92% 3.09% 5.45% 6.65% 1.84% 7.17%
Cash Return on Invested Capital (CROIC)		 -30.10% -25.81% -17.74% -9.57% 16.46% 10.30% 5.80% 7.82% 3.12% 5.91% 15.11%
Operating Return on Assets (OROA)		 5.87% 6.81% 5.83% 6.65% 6.32% -0.32% 2.02% 3.76% 5.46% 2.21% 4.84%
Return on Assets (ROA)		 5.25% 3.82% 2.22% 6.64% 3.70% -1.35% 1.07% 2.35% 3.02% 0.60% 3.31%
Return on Common Equity (ROCE)		 8.68% 8.11% 4.87% 15.53% 8.25% -0.92% 3.09% 5.45% 6.65% 1.84% 7.17%
Return on Equity Simple (ROE_SIMPLE)		 6.46% 6.95% 7.51% 0.00% 7.80% 5.33% 4.78% 0.00% 2.83% 3.77% 0.00%
Net Operating Profit after Tax (NOPAT)		 64 68 36 118 59 -2.78 23 46 52 15 56
NOPAT Margin		 6.07% 5.98% 3.38% 10.45% 5.65% -0.30% 2.47% 4.06% 4.89% 1.38% 4.61%
Net Nonoperating Expense Percent (NNEP)		 12.48% -5.74% 15.06% 28.33% 3.78% 8.17% 2.95% 3.33% 5.14% 4.03% 2.44%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 2.68% 1.31% - - 1.05% 1.21% 0.36% 1.30%
Cost of Revenue to Revenue		 56.84% 56.94% 57.96% 56.95% 55.00% 57.33% 57.13% 59.08% 56.00% 59.78% 58.74%
SG&A Expenses to Revenue		 4.82% 4.50% 4.62% 5.68% 5.27% 5.44% 6.18% 5.17% 5.03% 5.06% 4.97%
R&D to Revenue		 17.20% 16.77% 17.74% 16.77% 18.05% 21.45% 20.05% 17.43% 17.97% 19.08% 17.38%
Operating Expenses to Revenue		 35.09% 33.98% 34.72% 34.97% 36.84% 43.11% 40.03% 35.66% 36.48% 37.30% 35.23%
Earnings before Interest and Taxes (EBIT)		 85 103 78 91 85 -3.97 27 59 81 33 74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 118 140 114 128 117 30 60 93 114 67 109
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.67 2.36 2.11 2.13 2.60 2.34 2.49 3.28 4.43 3.73 4.50
Price to Tangible Book Value (P/TBV)		 3.53 3.08 2.72 2.76 3.33 3.00 3.17 4.19 5.65 4.74 5.69
Price to Revenue (P/Rev)		 1.97 1.70 1.47 1.38 1.74 1.63 1.79 2.30 3.06 2.43 2.76
Price to Earnings (P/E)		 41.31 33.99 28.09 23.80 33.32 43.87 52.19 110.05 156.80 98.81 88.94
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 2.42% 2.94% 3.56% 4.20% 3.00% 2.28% 1.92% 0.91% 0.64% 1.01% 1.12%
Enterprise Value to Invested Capital (EV/IC)		 2.46 2.27 2.01 2.02 2.56 2.28 2.34 3.12 4.18 3.55 4.32
Enterprise Value to Revenue (EV/Rev)		 2.07 1.76 1.54 1.45 1.76 1.66 1.88 2.35 3.11 2.47 2.79
Enterprise Value to EBITDA (EV/EBITDA)		 20.72 16.41 13.40 12.75 15.38 17.63 22.52 31.50 42.49 31.63 33.10
Enterprise Value to EBIT (EV/EBIT)		 32.15 24.22 18.90 17.82 21.52 27.46 37.97 56.73 77.53 52.89 51.48
Enterprise Value to NOPAT (EV/NOPAT)		 40.13 32.25 27.20 22.63 27.72 34.02 39.13 80.98 114.79 76.71 73.61
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 37.84 10.97 12.99 20.92 18.37 35.80 23.41 16.16
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 14.96 21.75 40.37 39.10 134.23 59.74 27.23
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.55 0.54 0.53 0.55 0.53 0.54 0.54 0.55 0.55 0.55 0.55
Long-Term Debt to Equity		 0.55 0.53 0.52 0.54 0.53 0.53 0.53 0.54 0.55 0.55 0.55
Financial Leverage		 -0.03 -0.06 0.02 0.03 0.08 0.06 0.10 0.09 0.05 0.06 0.09
Leverage Ratio		 1.87 1.89 1.89 1.92 1.96 1.97 1.94 1.98 1.95 1.99 1.99
Compound Leverage Factor		 2.22 1.61 1.56 1.48 1.65 7.95 1.18 1.61 1.66 1.15 1.79
Debt to Total Capital		 35.46% 34.89% 34.55% 35.32% 34.72% 35.02% 34.90% 35.42% 35.58% 35.68% 35.56%
Short-Term Debt to Total Capital		 0.27% 0.27% 0.26% 0.27% 0.26% 0.26% 0.26% 0.27% 0.27% 0.27% 0.27%
Long-Term Debt to Total Capital		 35.19% 34.62% 34.29% 35.05% 34.46% 34.76% 34.64% 35.15% 35.31% 35.42% 35.29%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 64.54% 65.11% 65.45% 64.68% 65.28% 64.98% 65.10% 64.58% 64.42% 64.32% 64.44%
Debt to EBITDA		 4.05 3.61 3.21 3.11 3.11 3.98 4.63 5.15 5.20 4.62 4.02
Net Debt to EBITDA		 1.04 0.50 0.57 0.61 0.16 0.33 1.01 0.71 0.76 0.58 0.38
Long-Term Debt to EBITDA		 4.02 3.58 3.19 3.09 3.09 3.95 4.59 5.11 5.16 4.58 3.99
Debt to NOPAT		 7.85 7.10 6.52 5.52 5.61 7.69 8.04 13.24 14.04 11.20 8.93
Net Debt to NOPAT		 2.02 0.98 1.15 1.09 0.29 0.64 1.75 1.82 2.05 1.41 0.86
Long-Term Debt to NOPAT		 7.79 7.04 6.47 5.48 5.57 7.63 7.98 13.14 13.94 11.12 8.86
Altman Z-Score		 2.03 1.93 1.88 1.88 2.30 1.94 2.09 2.43 3.18 2.66 3.13
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.70 3.66 3.95 3.84 4.29 3.88 4.06 3.55 3.65 3.40 3.28
Quick Ratio		 2.17 2.23 2.34 2.27 2.66 2.30 2.30 2.16 2.25 2.09 2.09
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -956 -841 -708 -439 295 111 17 171 37 55 349
Operating Cash Flow to CapEx		 -884.58% 820.64% 34.22% 858.27% 1,602.96% 345.97% -813.23% 418.18% 385.82% 546.13% 438.60%
Free Cash Flow to Firm to Interest Expense		 -60.24 -35.20 -29.42 -13.67 12.41 4.66 0.71 6.83 1.54 2.51 15.32
Operating Cash Flow to Interest Expense		 -16.74 9.62 0.36 6.09 11.19 2.45 -6.53 13.98 4.39 7.23 7.64
Operating Cash Flow Less CapEx to Interest Expense		 -18.63 8.45 -0.69 5.38 10.49 1.74 -7.33 10.64 3.25 5.91 5.90
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.73 0.75 0.80 0.82 0.78 0.73 0.71 0.71 0.73 0.76 0.80
Accounts Receivable Turnover		 4.16 4.45 4.70 4.56 4.55 4.42 4.24 4.20 4.49 4.82 4.72
Inventory Turnover		 2.71 2.83 2.38 2.51 2.29 2.22 2.14 2.45 2.54 2.61 2.95
Fixed Asset Turnover		 0.00 0.00 0.00 16.01 15.62 15.00 13.71 13.00 13.48 13.68 13.61
Accounts Payable Turnover		 5.61 5.79 5.77 6.01 6.24 6.06 6.41 6.19 6.53 6.59 6.79
Days Sales Outstanding (DSO)		 87.82 82.08 77.69 80.07 80.23 82.62 86.12 86.93 81.30 75.74 77.37
Days Inventory Outstanding (DIO)		 134.91 129.16 153.42 145.37 159.31 164.34 170.90 148.78 143.64 139.82 123.63
Days Payable Outstanding (DPO)		 65.04 63.02 63.24 60.69 58.52 60.20 56.95 58.93 55.88 55.37 53.73
Cash Conversion Cycle (CCC)		 157.69 148.21 167.87 164.76 181.02 186.75 200.08 176.78 169.07 160.20 147.27
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,240 3,124 3,222 3,154 3,003 3,010 3,228 3,029 3,019 2,971 2,935
Invested Capital Turnover		 1.41 1.51 1.48 1.53 1.40 1.35 1.25 1.30 1.34 1.43 1.47
Increase / (Decrease) in Invested Capital		 1,020 909 744 557 -236 -114 5.91 -125 16 -39 -293
Enterprise Value (EV)		 7,975 7,082 6,491 6,370 7,682 6,869 7,545 9,452 12,610 10,550 12,677
Market Capitalization		 7,574 6,867 6,216 6,064 7,602 6,740 7,208 9,239 12,384 10,355 12,529
Book Value per Share		 $19.12 $19.50 $19.71 $19.27 $20.12 $19.92 $20.12 $19.50 $19.66 $19.53 $19.72
Tangible Book Value per Share		 $14.47 $14.96 $15.26 $14.87 $15.71 $15.56 $15.80 $15.28 $15.43 $15.37 $15.59
Total Capital		 4,398 4,467 4,503 4,403 4,478 4,433 4,441 4,361 4,336 4,317 4,325
Total Debt		 1,559 1,558 1,556 1,555 1,555 1,552 1,550 1,545 1,543 1,540 1,538
Total Long-Term Debt		 1,547 1,546 1,544 1,543 1,543 1,541 1,538 1,533 1,531 1,529 1,526
Net Debt		 401 215 275 305 80 129 337 213 226 194 147
Capital Expenditures (CapEx)		 30 28 25 23 17 17 20 84 27 29 40
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,601 1,504 1,598 1,540 1,408 1,384 1,578 1,305 1,335 1,275 1,248
Debt-free Net Working Capital (DFNWC)		 2,756 2,823 2,858 2,655 2,779 2,641 2,680 2,556 2,547 2,529 2,574
Net Working Capital (NWC)		 2,744 2,811 2,846 2,644 2,767 2,629 2,668 2,545 2,535 2,517 2,563
Net Nonoperating Expense (NNE)		 -12 10 6.41 27 9.10 14 9.04 8.63 7.84 6.52 5.90
Net Nonoperating Obligations (NNO)		 401 215 275 305 80 129 337 213 226 194 147
Total Depreciation and Amortization (D&A)		 33 37 36 37 33 34 33 34 33 34 36
Debt-free, Cash-free Net Working Capital to Revenue		 41.65% 37.35% 37.79% 35.11% 32.23% 33.38% 39.26% 32.51% 32.96% 29.90% 27.48%
Debt-free Net Working Capital to Revenue		 71.69% 70.07% 67.59% 60.54% 63.63% 63.70% 66.65% 63.67% 62.89% 59.30% 56.68%
Net Working Capital to Revenue		 71.38% 69.78% 67.30% 60.27% 63.36% 63.42% 66.36% 63.38% 62.61% 59.03% 56.43%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.51 $0.39 $0.20 $0.61 $0.34 ($0.12) $0.10 $0.26 $0.31 $0.06 $0.35
Adjusted Weighted Average Basic Shares Outstanding		 149.08M 149.62M 149.69M 148.97M 145.29M 144.91M 144.39M 144.72M 142.88M 142.50M 141.85M
Adjusted Diluted Earnings per Share		 $0.51 $0.38 $0.20 $0.62 $0.34 ($0.12) $0.10 $0.26 $0.31 $0.06 $0.35
Adjusted Weighted Average Diluted Shares Outstanding		 149.55M 150.15M 149.98M 149.38M 145.85M 144.91M 145.36M 145.96M 145.94M 144.97M 144.50M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 149.16M 149.50M 147.84M 144.83M 144.60M 143.71M 144.43M 142.12M 142.15M 141.37M 141.06M
Normalized Net Operating Profit after Tax (NOPAT)		 69 74 58 69 62 8.18 24 48 53 24 58
Normalized NOPAT Margin		 6.56% 6.51% 5.40% 6.11% 5.98% 0.90% 2.60% 4.24% 4.98% 2.16% 4.72%
Pre Tax Income Margin		 9.59% 7.72% 6.03% 6.24% 6.89% -1.76% 1.74% 4.27% 6.40% 1.69% 5.40%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.37 4.30 3.25 2.85 3.56 -0.17 1.10 2.37 3.41 1.51 3.22
NOPAT to Interest Expense		 4.04 2.84 1.50 3.68 2.47 -0.12 0.95 1.83 2.22 0.71 2.46
EBIT Less CapEx to Interest Expense		 3.48 3.13 2.20 2.14 2.86 -0.87 0.29 -0.97 2.27 0.19 1.48
NOPAT Less CapEx to Interest Expense		 2.15 1.66 0.45 2.97 1.77 -0.82 0.15 -1.52 1.08 -0.61 0.72
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 136.81% 83.15% 31.97% 95.05% 122.91% 219.37% 224.63% 303.14% 376.65% 312.87% 268.83%

Financials Breakdown Chart

Key Financial Trends

Over the past four years, Ciena Corp (NYSE: CIEN) has shown variable financial performance with a general trend of revenue growth accompanied by fluctuations in profitability and cash flows.

Revenue and Profitability Trends:

  • Revenue increased from $867.98 million in Q3 2022 to $1.07 billion in Q1 2025, indicating steady growth in operating revenue.
  • Gross profit improved from $340.8 million in Q3 2022 to $471.8 million in Q1 2025, reflecting better cost management or higher-margin business.
  • Operating expenses rose overall as the company increased investments in R&D (now around $192.7 million in Q1 2025) potentially supporting future product development.
  • Net income showed volatility with notable strength in Q4 2023 ($91.2 million) and Q1 2025 ($44.6 million), but also quarters of losses such as Q2 2024 (-$16.8 million).
  • Basic and diluted EPS increased from $0.07 in Q3 2022 to $0.31 in Q1 2025, reflecting improving earnings generation per share.

Cash Flow and Liquidity:

  • Operating cash flow recovered robustly from negative $159 million in Q3 2024 to positive $103.7 million in Q1 2025, indicating improved cash generation ability.
  • Investing cash flows remain consistently negative due to heavy purchases of property, plant, equipment, and investments, highlighting substantial capital expenditure (e.g., -$95.3 million in Q1 2025).
  • Financing cash flow is mostly negative due to repurchase of common equity and debt repayments, offset partly by issuance of debt and equity, suggesting active capital management.
  • Cash & equivalents stayed strong, with approximately $875 million on hand at Q1 2025, supporting liquidity.

Balance Sheet Highlights:

  • Total assets remained stable around $5.5 billion, showing consistent asset base.
  • Inventories and accounts receivable are significant components of current assets ($845 million and $939 million respectively in Q1 2025), reflecting operational scale but also potential working capital needs.
  • Retained earnings are negative at -$3.25 billion, indicating accumulated losses or high dividends/repurchases over time, which could pressure equity levels in the long term.
  • Long-term debt is sizable above $1.5 billion, signifying leverage but manageable with improving earnings.

Summary: Ciena has demonstrated revenue growth and improved earnings per share over four years, though with some periods of losses, reflecting industry cyclicality or investment phases. The company invests heavily in R&D and capital assets to sustain growth. Positive operating cash flow in recent quarters and strong cash reserves provide a solid liquidity position. However, elevated debt and negative retained earnings warrant monitoring as they reflect accumulated financial pressures. Investors may view Ciena’s improving profitability and cash generation positively, balanced against the need to manage expenses and debt levels carefully.

10/24/25 04:12 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Ciena's Financials

When does Ciena's fiscal year end?

According to the most recent income statement we have on file, Ciena's financial year ends in November. Their financial year 2024 ended on November 2, 2024.

How has Ciena's net income changed over the last 10 years?

Ciena's net income appears to be on an upward trend, with a most recent value of $83.96 million in 2024, falling from -$40.64 million in 2014. The previous period was $254.83 million in 2023. Find out what analysts predict for Ciena in the coming months.

What is Ciena's operating income?
Ciena's total operating income in 2024 was $166.62 million, based on the following breakdown:
  • Total Gross Profit: $1.72 billion
  • Total Operating Expenses: $1.55 billion
How has Ciena's revenue changed over the last 10 years?

Over the last 10 years, Ciena's total revenue changed from $2.29 billion in 2014 to $4.01 billion in 2024, a change of 75.5%.

How much debt does Ciena have?

Ciena's total liabilities were at $2.83 billion at the end of 2024, a 2.6% increase from 2023, and a 31.9% increase since 2014.

How much cash does Ciena have?

In the past 10 years, Ciena's cash and equivalents has ranged from $586.72 million in 2014 to $1.42 billion in 2021, and is currently $934.86 million as of their latest financial filing in 2024.

How has Ciena's book value per share changed over the last 10 years?

Over the last 10 years, Ciena's book value per share changed from -0.65 in 2014 to 19.50 in 2024, a change of -3,084.6%.


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This page (NYSE:CIEN) was last updated on 10/24/2025 by MarketBeat.com Staff
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