Ciena CorpCiena Corp
Ciena Corp

Ciena Corp

CIEN
Information Technology·Communications Equipment

Ciena Corp. is a network technology company, which engages in the provision of hardware, software, and services to network operators, as well as enabling enhanced network capacity, service delivery, and automation. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of converged packet optical and packet networking portfolios. The Platform Software and Services segment provides analytics, data, and planning tools to assist customers in managing its networking platforms products. The Blue Planet Automation Software and Services segment enables customers to implement large-scale software and IT-led OSS transformations by transforming legacy networks into service ready networks. The Global Services segment offers a broad suite of value-added services. The company was founded by Patrick H. Nettles and Kevin Brian Kimberlin in 1992 and is headquartered in Hanover, MD.

Maryland; U.S.A
Market cap
No dataNo data
Revenue
$4.8B+18.8% YoY
Net income
$123.3M+46.9% YoY
Free cash flow
$665.3M+76.1% YoY

Market

Listed stock
Tokenized stocks
CIENPriceNYSE
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Financial performance

Revenue
$4.8B+18.8% YoY
Operating income
$197.5M+18.6% YoY
Net income
$123.3M+46.9% YoY
Free cash flow
$665.3M+76.1% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $3.6B, 2022 $3.6B, 2023 $4.4B, 2024 $4B, 2025 $4.8B. Operating income: 2021 $495.4M, 2022 $222.8M, 2023 $357.5M, 2024 $166.6M, 2025 $197.5M. Net income: 2021 $500.2M, 2022 $152.9M, 2023 $254.8M, 2024 $84M, 2025 $123.3M. Free cash flow: 2021 $462.1M, 2022 $-258.6M, 2023 $62.1M, 2024 $377.9M, 2025 $665.3M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
18.8%+2726 bps YoY
Gross margin
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Operating margin
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FCF margin
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Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-10-30 $495.4M, 2022-10-29 $222.8M, 2023-10-28 $357.5M, 2024-11-02 $166.6M, 2025-11-01 $197.5M. Net income: 2021-10-30 $500.2M, 2022-10-29 $152.9M, 2023-10-28 $254.8M, 2024-11-02 $84M, 2025-11-01 $123.3M. Free cash flow: 2021-10-30 $462.1M, 2022-10-29 $-258.6M, 2023-10-28 $62.1M, 2024-11-02 $377.9M, 2025-11-01 $665.3M

Growth heatmap

2022202320242025CAGR
Revenue
+0.3%
+20.8%
-8.5%
+18.8%
+7.1%
Gross profit
-9.4%
+20.4%
-8.5%
+16.6%
+3.9%
Operating income
-55.0%
+60.5%
-53.4%
+18.6%
-20.5%
Free cash flow
-156.0%
+124.0%
+508.2%
+76.1%
+9.5%

Earnings quality

Operating cash flow
$806.1M+56.7% YoY
Net income
$123.3M+46.9% YoY
Free cash flow
$665.3M+76.1% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-11-01 654%, 2024-11-02 613%, 2023-10-28 66%, 2022-10-29 -110%, 2021-10-30 108%. Free cash flow: 2025-11-01 539%, 2024-11-02 450%, 2023-10-28 24%, 2022-10-29 -169%, 2021-10-30 92%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
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FCF / share
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Diluted shares
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
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Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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