CIENA CORP CIEN

Technology SIC 3661 - Telephone & Telegraph Apparatus NAICS Manufacturing › Computer and Electronic Product Manufacturing › Communications Equipment Manufacturing › Telephone Apparatus Manufacturing derived NYSE

We are a network technology company, providing hardware, software, and services to a wide range of network operators and enabling enhanced network capacity, service delivery, and automation. Our solutions support network traffic across a wide range of applications, including cloud, voice, video, data, and artificial intelligence ("AI"). Our network solutions are used globally by cloud providers, service providers, and other network operators across multiple industry verticals.

Our Networking Platforms, including our Optical Networking portfolio and Routing and Switching portfolio, are solutions applied from the network core to end user access points and allow network operators to scale capacity, increase transmission speeds, allocate traffic efficiently, and adapt dynamically to changing end-user service demands. Complementing our Networking Platforms, we offer Platform Software, which delivers multi-layer domain control and operations for network operators, and Blue Planet® Automation Software, which enables service lifecycle management automation with productized operational support systems ("OSS") across domains and vendors. In addition to our hardware and software, we offer a broad range of complementary services that help our customers build, operate, and transform their networks and associated operational environments.

Last close 320.26 2026-10-23
Market cap $45.42B 2026-08-01 share count
52-week range 168.22 - 637.51

Valuation FY2025 figures against the last close

P/S9.5x
P/E376.8x
P/FCF68.3x
EV/EBITDA151.3x
Dividend yield—
Diluted EPS0.85

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Americas
  • Emea
  • Apac
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 Americas, FY2025: 3.6B (75.6%) 76% Americas Emea, FY2025: 731.9M (15.3%) 15% Emea Apac, FY2025: 431.2M (9.0%) 9% Apac FY2024 Americas, FY2024: 3B (73.5%) 74% Emea, FY2024: 648.9M (16.2%) 16% Apac, FY2024: 414.2M (10.3%) 10% FY2023 Americas, FY2023: 3.1B (70.9%) 71% Emea, FY2023: 643.1M (14.7%) 15% Apac, FY2023: 633.1M (14.4%) 14%
Region FY2025FY2024FY2023
Americas $3.61B $2.95B $3.11B
Emea $731.9M $648.9M $643.1M
Apac $431.2M $414.2M $633.1M

As the company reported it, from the “REVENUE - Schedule of Geographical Distribution of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.77B$4.01B$4.39B$3.63B$3.62B$3.53B$3.57B$3.09B$2.80B$2.60B
Cost of revenue $2.76B$2.30B$2.51B$2.07B$1.90B$1.88B$2.03B$1.78B$1.56B$1.44B
Gross profit $2.00B$1.72B$1.88B$1.56B$1.72B$1.65B$1.54B$1.31B$1.25B$1.16B
R&D $848.3M$767.5M$750.6M$624.7M$536.7M$529.9M$548.1M$491.6M$475.3M$451.8M
SG&A $238.7M$220.6M$215.3M$179.4M$181.9M$169.5M$174.4M$160.1M$142.6M$132.8M
Total operating expenses $1.81B$1.55B$1.52B$1.34B$1.23B$1.17B$1.20B$1.08B$1.03B$1.01B
Operating income $197.5M$166.6M$357.5M$222.8M$495.4M$487.0M$346.8M$229.9M$214.7M$156.2M
Interest expense $89.4M$97.0M$88.0M$47.0M$30.8M$31.3M$37.5M$55.2M$55.9M$56.7M
Pre-tax income $156.3M$119.8M$323.7M$182.5M$462.8M$456.0M$313.2M$148.8M$156.1M$86.7M
Income tax $32.9M$35.9M$68.8M$29.6M$37.4M$94.7M$59.8M$493.5M$1.11B$14.1M
Net income $123.3M$84.0M$254.8M$152.9M$500.2M$361.3M$253.4M-$344.7M$1.26B$72.6M
EPS, basic 0.870.581.711.013.222.341.63-2.408.890.52
EPS, diluted 0.850.581.711.003.192.321.61-2.497.530.51
Shares, diluted (wtd. avg.) 145.2M146.0M149.4M152.2M156.7M156.0M157.6M143.7M169.9M150.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.09B$934.9M$1.01B$994.4M$1.42B$1.09B$904.2M$745.4M$640.6M$777.7M
Short-term investments $216.1M$316.3M$104.8M$154.0M$181.5M$150.7M$109.9M$149.0M$279.1M$275.2M
Receivables $975.9M$908.6M$1.00B$920.8M$885.0M$719.4M$724.9M$786.5M$622.2M$576.2M
Inventory $826.2M$820.4M$1.05B$946.7M$374.3M$344.4M$345.0M$262.8M$267.1M$211.3M
Total current assets $3.57B$3.54B$3.58B$3.39B$3.19B$2.61B$2.38B$2.14B$2.01B$2.01B
Property, plant and equipment ——————$286.9M$292.1M$308.5M$288.4M
Goodwill $521.2M$444.7M$444.8M$328.3M$311.6M$310.8M$297.9M$298.0M$267.5M$267.0M
Other intangibles $224.2M$165.0M$205.6M$69.5M$65.3M$96.6M$112.8M$148.2M$101.0M$146.7M
Total assets $5.86B$5.64B$5.60B$5.07B$4.87B$4.18B$3.89B$3.76B$3.95B$2.87B
Accounts payable $542.8M$423.4M$317.8M$516.0M$356.2M$291.9M$344.8M$340.6M$260.1M$235.9M
Short-term debt $11.6M$11.7M$11.7M$6.9M$6.9M$6.9M$7.0M———
Total current liabilities $1.31B$999.8M$932.0M$1.04B$909.0M$760.7M$845.9M$963.0M$1.04B$891.5M
Long-term debt $1.52B$1.53B$1.54B$1.06B$670.4M$676.4M$680.4M$686.5M$583.7M$1.02B
Total liabilities $3.14B$2.83B$2.75B$2.36B$1.85B$1.67B$1.72B$1.83B$1.82B$2.11B
Retained earnings -$3.17B-$3.29B-$3.38B-$3.63B-$3.79B-$4.28B-$4.64B-$4.95B-$4.66B-$5.93B
Total equity $2.73B$2.82B$2.85B$2.71B$3.02B$2.51B$2.17B$1.93B$2.14B$766.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $806.1M$514.5M$168.3M-$167.8M$541.6M$493.7M$413.1M$229.3M$234.9M$289.5M
Depreciation and amortisation $104.1M$92.8M$92.6M$95.9M$96.2M$93.9M$87.6M$84.2M$77.2M$63.4M
Stock-based compensation $184.5M$156.4M$130.5M$105.1M$84.3M$67.8M$59.7M$53.0M$48.4M$52.0M
Capital expenditure $140.8M$136.6M$106.2M$90.8M$79.5M$82.7M$62.6M$67.6M$94.6M$107.2M
Investing cash flow -$241.5M-$306.5M-$383.5M-$101.2M-$90.7M-$220.2M$24.1M-$19.4M-$61.4M-$296.3M
Financing cash flow -$405.9M-$285.1M$229.4M-$133.1M-$116.8M-$87.2M-$279.0M-$99.2M-$311.1M-$4.2M
Buybacks $334.5M$254.5M$242.2M$500.8M$91.3M$74.5M$150.1M$111.0M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-25-056698.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 2.6B Gross profit, FY2016: 1.2B Net income, FY2016: 72.6M Revenue, FY2017: 2.8B Gross profit, FY2017: 1.2B Net income, FY2017: 1.3B Revenue, FY2018: 3.1B Gross profit, FY2018: 1.3B Net income, FY2018: -344.7M Revenue, FY2019: 3.6B Gross profit, FY2019: 1.5B Net income, FY2019: 253.4M Revenue, FY2020: 3.5B Gross profit, FY2020: 1.7B Net income, FY2020: 361.3M Revenue, FY2021: 3.6B Gross profit, FY2021: 1.7B Net income, FY2021: 500.2M Revenue, FY2022: 3.6B Gross profit, FY2022: 1.6B Net income, FY2022: 152.9M Revenue, FY2023: 4.4B Gross profit, FY2023: 1.9B Net income, FY2023: 254.8M Revenue, FY2024: 4B Gross profit, FY2024: 1.7B Net income, FY2024: 84M Revenue, FY2025: 4.8B Gross profit, FY2025: 2B Net income, FY2025: 123.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.60B $2.80B $3.09B $3.57B $3.53B $3.62B $3.63B $4.39B $4.01B $4.77B
Gross profit $1.16B $1.25B $1.31B $1.54B $1.65B $1.72B $1.56B $1.88B $1.72B $2.00B
Net income $72.6M $1.26B -$344.7M $253.4M $361.3M $500.2M $152.9M $254.8M $84.0M $123.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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