NYSE : CIEN
Ciena Corporation — Financial statements
Technology · Communication Equipment · United States
Last price 314.83 USD (Oct 30, 2026, 2:57 PM EDT) · Market cap 44.65B
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Financial statements
Ciena Corporation (CIEN) reported revenue of 6.02B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 6.02B | 4.77B | 4.01B | 4.39B | 3.63B | 3.62B |
| Cost of Revenue | 3.37B | 2.76B | 2.30B | 2.51B | 2.07B | 1.91B |
| Gross Profit | 2.65B | 2.00B | 1.72B | 1.88B | 1.56B | 1.72B |
| Selling, General & Admin | 859.86M | 820.04M | 731.32M | 706.09M | 645.95M | 638.90M |
| Research & Development | 924.94M | 848.33M | 767.50M | 750.56M | 624.66M | 566.18M |
| Amortization of Goodwill & Intangibles | 18.27M | 25.76M | 29.57M | 37.35M | 32.51M | 23.73M |
| Operating Expenses | 1.80B | 1.69B | 1.53B | 1.49B | 1.30B | 1.23B |
| Operating Income | 850.45M | 310.79M | 191.21M | 384.85M | 257.23M | 486.21M |
| Interest Expense | -69.96M | -89.40M | -97.03M | -88.03M | -47.05M | -30.84M |
| Interest & Investment Income | 61.38M | 55.02M | 62.12M | 45.01M | 10.06M | 2.05M |
| Currency Exchange Gain (Loss) | 160.00K | -3.77M | -10.28M | -4.32M | -1.52M | -3.45M |
| Other Non Operating Income (Expenses) | 2.26M | -2.36M | -1.58M | -5.05M | -5.92M | -533.00K |
| EBT Excluding Unusual Items | 844.29M | 270.28M | 144.44M | 332.47M | 212.81M | 453.44M |
| Merger & Restructuring Charges | -22.39M | -24.16M | -24.59M | -27.31M | -34.42M | -32.14M |
| Gain (Loss) on Sale of Investments | 26.37M | 4.12M | 164.00K | |||
| Other Unusual Items | -7.14M | -729.00K | -7.87M | 41.28M | ||
| Pretax Income | 725.65M | 156.29M | 119.85M | 323.65M | 182.50M | 462.75M |
| Income Tax Expense | 71.24M | 32.95M | 35.89M | 68.83M | 29.60M | -37.45M |
| Net Income | 654.41M | 123.34M | 83.96M | 254.83M | 152.90M | 500.20M |
| Net Income to Common | 654.41M | 123.34M | 83.96M | 254.83M | 152.90M | 500.20M |
| Shares Outstanding (Basic) | 142.06M | 142.22M | 144.72M | 148.97M | 151.21M | 155.28M |
| Shares Outstanding (Diluted) | 146.05M | 145.25M | 145.96M | 149.38M | 152.19M | 156.74M |
| EPS (Basic) | 4.61 | 0.87 | 0.58 | 1.71 | 1.01 | 3.22 |
| EPS (Diluted) | 4.47 | 0.85 | 0.58 | 1.71 | 1.00 | 3.19 |
| Free Cash Flow | 814.36M | 665.29M | 377.89M | 62.13M | -258.57M | 462.10M |
| Free Cash Flow Per Share | 5.58 | 4.58 | 2.59 | 0.42 | -1.70 | 2.95 |
| Gross Margin | 44.07% | 42.04% | 42.83% | 42.83% | 42.95% | 47.37% |
| Operating Margin | 14.12% | 6.52% | 4.76% | 8.77% | 7.08% | 13.43% |
| Profit Margin | 10.87% | 2.59% | 2.09% | 5.81% | 4.21% | 13.81% |
| Free Cash Flow Margin | 13.53% | 13.95% | 9.41% | 1.42% | -7.12% | 12.76% |
| EBITDA | 1.03B | 451.13M | 324.68M | 527.03M | 397.43M | 618.48M |
| EBITDA Margin | 17.03% | 9.46% | 8.09% | 12.02% | 10.94% | 17.08% |
| D&A For EBITDA | 175.09M | 140.34M | 133.47M | 142.18M | 140.20M | 132.27M |
| EBIT | 850.45M | 310.79M | 191.21M | 384.85M | 257.23M | 486.21M |
| EBIT Margin | 14.12% | 6.52% | 4.76% | 8.77% | 7.08% | 13.43% |
| Effective Tax Rate | 9.82% | 21.08% | 29.95% | 21.27% | 16.22% | |
| Revenue as Reported | 6.02B | 4.77B | 4.01B | 4.39B | 3.63B | 3.62B |
Balance sheet
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.45B | 1.09B | 934.86M | 1.01B | 994.35M | 1.42B |
| Short-Term Investments | 184.29M | 216.15M | 316.34M | 104.75M | 153.99M | 181.48M |
| Cash & Short-Term Investments | 2.63B | 1.31B | 1.25B | 1.12B | 1.15B | 1.60B |
| Accounts Receivable | 1.39B | 1.13B | 1.04B | 1.15B | 1.08B | 986.31M |
| Other Receivables | 63.05M | 45.94M | 33.41M | 24.03M | 18.41M | |
| Receivables | 1.39B | 1.20B | 1.08B | 1.19B | 1.10B | 1.00B |
| Inventory | 871.99M | 826.24M | 820.43M | 1.05B | 946.73M | 374.26M |
| Prepaid Expenses | 361.80M | 54.84M | 50.60M | 58.95M | 55.44M | 62.19M |
| Other Current Assets | 4.32M | 179.55M | 339.73M | 163.02M | 134.55M | 143.70M |
| Total Current Assets | 5.26B | 3.57B | 3.54B | 3.58B | 3.39B | 3.19B |
| Property, Plant & Equipment | 537.32M | 425.39M | 365.14M | 315.29M | 312.89M | 329.25M |
| Long-Term Investments | 213.55M | 78.88M | 114.43M | 159.28M | 68.39M | 78.62M |
| Goodwill | 513.34M | 521.20M | 444.71M | 444.76M | 328.32M | 311.64M |
| Other Intangible Assets | 188.82M | 226.74M | 170.66M | 214.22M | 75.57M | 65.31M |
| Long-Term Accounts Receivable | 28.61M | |||||
| Long-Term Deferred Tax Assets | 1.09B | 884.89M | 886.44M | 809.31M | 824.01M | 800.18M |
| Long-Term Deferred Charges | 9.13M | 9.84M | 8.84M | 6.93M | 19.96M | |
| Other Long-Term Assets | 188.86M | 124.31M | 105.70M | 74.03M | 67.63M | 71.35M |
| Total Assets | 8.00B | 5.86B | 5.64B | 5.60B | 5.07B | 4.87B |
| Accounts Payable | 654.07M | 542.84M | 423.40M | 317.83M | 516.05M | 356.18M |
| Accrued Expenses | 284.39M | 321.35M | 186.10M | 193.55M | 157.53M | 232.92M |
| Current Portion of Long-Term Debt | 11.58M | 11.70M | 11.70M | 6.93M | 6.93M | |
| Current Portion of Leases | 17.40M | 18.70M | 18.85M | 20.61M | 22.68M | 22.25M |
| Current Income Taxes Payable | 117.00K | 10.73M | 35.11M | 16.34M | 11.47M | 13.58M |
| Current Unearned Revenue | 211.45M | 208.94M | 156.38M | 154.42M | 137.90M | 118.01M |
| Other Current Liabilities | 218.50M | 194.26M | 168.30M | 217.58M | 188.03M | 159.17M |
| Total Current Liabilities | 1.39B | 1.31B | 999.84M | 932.02M | 1.04B | 909.03M |
| Long-Term Debt | 3.23B | 1.53B | 1.53B | 1.54B | 1.06B | 686.28M |
| Long-Term Leases | 38.63M | 71.12M | 68.63M | 81.45M | 95.57M | 104.15M |
| Long-Term Unearned Revenue | 99.83M | 94.85M | 81.24M | 74.04M | 62.34M | 57.46M |
| Other Long-Term Liabilities | 186.26M | 135.48M | 142.42M | 122.22M | 97.16M | 88.29M |
| Total Liabilities | 4.94B | 3.14B | 2.83B | 2.75B | 2.36B | 1.85B |
| Common Stock | 1.42M | 1.41M | 1.43M | 1.45M | 1.48M | 1.55M |
| Additional Paid-In Capital | 5.66B | 5.95B | 6.15B | 6.26B | 6.39B | 6.80B |
| Retained Earnings | -2.54B | -3.17B | -3.29B | -3.38B | -3.63B | -3.79B |
| Comprehensive Income & Other | -65.03M | -55.03M | -46.71M | -37.77M | -46.65M | 439.00K |
| Shareholders' Equity | 3.06B | 2.73B | 2.82B | 2.85B | 2.71B | 3.02B |
| Total Liabilities & Equity | 8.00B | 5.86B | 5.64B | 5.60B | 5.07B | 4.87B |
| Total Debt | 3.29B | 1.63B | 1.63B | 1.66B | 1.19B | 819.61M |
| Net Cash (Debt) | -442.32M | -261.66M | -300.13M | -407.52M | -2.58M | 854.46M |
| Net Cash Per Share | -3.03 | -1.80 | -2.06 | -2.73 | -0.02 | 5.45 |
| Filing Date Shares Outstanding | 141.81M | 140.85M | 142.12M | 144.83M | 148.42M | 154.88M |
| Total Common Shares Outstanding | 141.90M | 141.02M | 142.66M | 144.83M | 148.41M | 154.86M |
| Working Capital | 3.88B | 2.26B | 2.54B | 2.64B | 2.35B | 2.28B |
| Book Value Per Share | 21.54 | 19.35 | 19.74 | 19.67 | 18.28 | 19.50 |
| Tangible Book Value | 2.35B | 1.98B | 2.20B | 2.19B | 2.31B | 2.64B |
| Tangible Book Value Per Share | 16.59 | 14.05 | 15.43 | 15.12 | 15.56 | 17.07 |
| Machinery | 1.08B | 892.22M | 788.78M | 676.49M | 619.16M | 599.67M |
| Leasehold Improvements | 88.65M | 91.56M | 77.45M | 74.39M | 80.42M | 100.27M |
| Order Backlog | 5.00B | 2.10B |
Cash flow statement
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 654.41M | 123.34M | 83.96M | 254.83M | 152.90M | 500.20M |
| Depreciation & Amortization | 175.09M | 140.34M | 133.47M | 142.18M | 140.20M | 132.27M |
| Asset Writedown & Restructuring Costs | 89.10M | 89.10M | ||||
| Loss (Gain) From Sale of Investments | -26.37M | -4.12M | -164.00K | |||
| Stock-Based Compensation | 212.01M | 184.53M | 156.40M | 130.46M | 105.13M | 84.34M |
| Other Operating Activities | 180.18M | 48.96M | 37.94M | 63.99M | 10.24M | -106.84M |
| Change in Accounts Receivable | -233.39M | -98.74M | 80.31M | -94.56M | -47.07M | -174.38M |
| Change in Inventory | -98.44M | -53.60M | 153.02M | -132.50M | -589.11M | -47.57M |
| Change in Accounts Payable | 210.09M | 226.49M | 64.25M | -138.47M | 100.33M | 162.13M |
| Change in Unearned Revenue | 32.28M | 63.76M | 9.88M | 27.41M | 26.38M | 16.82M |
| Change in Other Net Operating Assets | -166.64M | 81.93M | -204.71M | -58.63M | -62.64M | -25.16M |
| Operating Cash Flow | 1.05B | 806.09M | 514.53M | 168.33M | -167.76M | 541.65M |
| Capital Expenditures | -240.32M | -140.80M | -136.64M | -106.20M | -90.82M | -79.55M |
| Cash Acquisitions | -231.10M | -231.10M | -230.05M | -62.04M | ||
| Investment in Securities | -58.39M | 134.42M | -168.38M | -44.23M | 46.67M | -15.85M |
| Other Investing Activities | 879.00K | -4.01M | -1.45M | -2.98M | 4.94M | 4.68M |
| Investing Cash Flow | -528.93M | -241.50M | -306.48M | -383.45M | -101.25M | -90.72M |
| Short-Term Debt Issued | 19.18M | 830.00K | ||||
| Long-Term Debt Issued | 497.50M | 400.00M | ||||
| Total Debt Issued | 2.88B | 19.18M | 498.33M | 400.00M | ||
| Short-Term Debt Repaid | -19.18M | |||||
| Long-Term Debt Repaid | -15.96M | -15.73M | -13.22M | -8.66M | -9.93M | |
| Total Debt Repaid | -1.15B | -35.13M | -15.73M | -13.22M | -8.66M | -9.93M |
| Net Debt Issued (Repaid) | 1.72B | -15.96M | -15.73M | 485.11M | 391.33M | -9.93M |
| Issuance of Common Stock | 38.03M | 35.88M | 34.29M | 31.36M | 30.35M | 28.46M |
| Repurchase of Common Stock | -732.00M | -425.82M | -301.07M | -280.71M | -549.25M | -135.36M |
| Other Financing Activities | -158.62M | -12.00K | -2.55M | -6.38M | -5.48M | |
| Financing Cash Flow | 868.09M | -405.92M | -285.06M | 229.38M | -133.06M | -116.83M |
| Foreign Exchange Rate Adjustments | -4.12M | -1.50M | 1.25M | 2.15M | -26.17M | -198.00K |
| Net Cash Flow | 1.39B | 157.17M | -75.76M | 16.41M | -428.23M | 333.90M |
| Free Cash Flow | 814.36M | 665.29M | 377.89M | 62.13M | -258.57M | 462.10M |
| Free Cash Flow Margin | 13.53% | 13.95% | 9.41% | 1.42% | -7.12% | 12.76% |
| Free Cash Flow Per Share | 5.58 | 4.58 | 2.59 | 0.42 | -1.70 | 2.95 |
| Levered Free Cash Flow | 633.37M | 667.26M | 448.82M | 17.43M | -235.81M | 356.67M |
| Unlevered Free Cash Flow | 677.09M | 723.14M | 509.46M | 72.45M | -206.41M | 375.95M |
| Cash Interest Paid | 29.86M | |||||
| Cash Income Tax Paid | 113.29M | 113.61M | 54.96M | 78.24M | 34.97M | 73.13M |
| Change in Working Capital | -256.11M | 219.84M | 102.76M | -396.75M | -572.11M | -68.15M |
Ratios
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 44.65B | 26.79B | 9.24B | 6.06B | 7.15B | 8.41B |
| Enterprise Value | 45.09B | 26.99B | 9.62B | 6.40B | 7.03B | 7.77B |
| Last Close Price | 349.45 | 189.92 | 63.97 | 41.02 | 48.25 | 54.29 |
| PE Ratio | 70.35 | 217.20 | 110.05 | 23.80 | 46.75 | 16.82 |
| Forward PE | 30.18 | 50.46 | 25.68 | 14.15 | 29.51 | 17.88 |
| PS Ratio | 7.64 | 5.62 | 2.30 | 1.38 | 1.97 | 2.32 |
| PB Ratio | 16.22 | 9.81 | 3.28 | 2.13 | 2.63 | 2.79 |
| P/TBV Ratio | 19.54 | 13.52 | 4.20 | 2.77 | 3.10 | 3.18 |
| P/FCF Ratio | 56.49 | 40.27 | 24.45 | 97.60 | 18.20 | |
| P/OCF Ratio | 43.62 | 33.23 | 17.96 | 36.03 | 15.53 | |
| PEG Ratio | 0.46 | 1.07 | 1.48 | 0.94 | 1.97 | 1.12 |
| EV/Sales Ratio | 7.71 | 5.66 | 2.40 | 1.46 | 1.94 | 2.15 |
| EV/EBITDA Ratio | 45.29 | 59.82 | 29.64 | 12.14 | 17.68 | 12.57 |
| EV/EBIT Ratio | 54.61 | 86.83 | 50.33 | 16.62 | 27.32 | 15.99 |
| EV/FCF Ratio | 57.03 | 40.56 | 25.46 | 102.97 | 16.82 | |
| Debt / Equity Ratio | 1.07 | 0.60 | 0.58 | 0.58 | 0.44 | 0.27 |
| Debt / EBITDA Ratio | 3.15 | 3.48 | 4.78 | 3.03 | 2.81 | 1.28 |
| Debt / FCF Ratio | 4.04 | 2.44 | 4.32 | 26.67 | 1.77 | |
| Net Debt / Equity Ratio | 0.14 | 0.10 | 0.11 | 0.14 | 0.00 | -0.28 |
| Net Debt / EBITDA Ratio | 0.43 | 0.58 | 0.92 | 0.77 | 0.01 | -1.38 |
| Net Debt / FCF Ratio | 0.54 | 0.39 | 0.79 | 6.56 | -0.01 | -1.85 |
| Asset Turnover | 0.88 | 0.83 | 0.71 | 0.82 | 0.73 | 0.80 |
| Inventory Turnover | 3.89 | 3.36 | 2.45 | 2.51 | 3.14 | 5.30 |
| Quick Ratio | 2.90 | 1.91 | 2.33 | 2.47 | 2.16 | 2.87 |
| Current Ratio | 3.80 | 2.73 | 3.54 | 3.84 | 3.25 | 3.51 |
| Return on Equity (ROE) | 22.40% | 4.45% | 2.96% | 9.16% | 5.33% | 18.09% |
| Return on Assets (ROA) | 7.73% | 3.38% | 2.13% | 4.51% | 3.24% | 6.72% |
| Return on Invested Capital (ROIC) | 21.97% | 7.85% | 4.07% | 9.87% | 8.64% | 22.29% |
| Return on Capital Employed (ROCE) | 12.90% | 6.80% | 4.10% | 8.20% | 6.40% | 12.30% |
| Earnings Yield | 1.42% | 0.46% | 0.91% | 4.20% | 2.14% | 5.95% |
| FCF Yield | 1.77% | 2.48% | 4.09% | 1.03% | -3.62% | 5.49% |
| Buyback Yield / Dilution | -0.39% | 0.49% | 2.29% | 1.85% | 2.90% | -0.51% |