Overview Dividends

(CIEN) Ciena - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US1717793095

Hardware, Software, Services

Communications Equipment
Market Cap in USD: 33,893m

IPO / Inception: 1997-02-07
Return 12m vs S&P 500: 137%

EPS (Earnings per Share)

EPS CAGR: 19.27%
EPS Trend: 18.8%

Last SUE: 1.22
Qual. Beats: 2

Revenue

Rev. CAGR: 13.37%
Rev. Trend: 72.2%

Last SUE: 4.00
Qual. Beats: 3

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	56.4%
Value at Risk 5%th	69.0%
Relative Tail Risk	-25.60%

Reward TTM
Sharpe Ratio	1.91
Alpha	143.05
CAGR/Max DD	1.53

Character TTM
Hurst Exponent	0.457
Beta	1.955
Beta Downside	1.878

Drawdowns 3y
Max DD	45.51%
Mean DD	12.90%
Median DD	12.66%

Description: CIEN Ciena December 19, 2025

Ciena Corp (CIEN) designs, manufactures and services networking hardware, software and managed solutions for carriers and large enterprises across the Americas, EMEA, APAC, Japan and India. Its business is organized into four segments: Networking Platforms (optical transport, packet-optical and IP routing gear), Platform Software & Services (network control and planning tools), Blue Planet Automation (multi-domain orchestration and analytics) and Global Services (maintenance, deployment and consulting).

The Networking Platforms segment anchors Ciena’s revenue, offering products such as the 6500 Packet-Optical Platform, Waveserver modular interconnects, the 5400/3000/5000 families, and the 8100 Coherent IP platform. These solutions enable carriers to consolidate traffic, migrate to 400 Gbps and 800 Gbps coherent optics, and support the rollout of 5G and edge-computing infrastructures.

From a quantitative perspective, Ciena reported FY 2024 revenue of $4.8 billion, a 9 % year-over-year increase driven by strong demand for 400G coherent optics and network-automation software. Its backlog stood at roughly $6.5 billion, indicating multi-quarter order visibility. R&D spending remained high at ~13 % of revenue, reflecting the competitive need to advance open-optical-network (OON) standards and software-defined networking capabilities.

Key macro drivers for Ciena include the global surge in data-center interconnect traffic, accelerated 5G deployments, and carrier-grade cloud-native transformation initiatives. A potential risk is the slowdown in telecom capex if macro-economic conditions tighten, which could compress order intake.

For a deeper quantitative dive, see the ValueRay analysis of CIEN.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (123.3m TTM) > 0 and > 6% of Revenue (6% = 286.2m TTM)

FCFTA 0.11 (>2.0%) and ΔFCFTA 4.69pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 47.32% (prev 62.86%; Δ -15.53pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.14 (>3.0%) and CFO 806.1m > Net Income 123.3m (YES >=105%, WARN >=100%)

Net Debt (490.3m) to EBITDA (386.0m) ratio: 1.27 <= 3.0 (WARN <= 3.5)

Current Ratio 2.73 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (145.5m) change vs 12m ago -0.34% (target <= -2.0% for YES)

Gross Margin 39.89% (prev 39.78%; Δ 0.11pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 82.90% (prev 71.17%; Δ 11.73pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 2.75 (EBITDA TTM 386.0m / Interest Expense TTM 89.4m) >= 6 (WARN >= 3)

Altman Z'' -0.03

(A) 0.38 = (Total Current Assets 3.57b - Total Current Liabilities 1.31b) / Total Assets 5.86b

(B) -0.54 = Retained Earnings (Balance) -3.17b / Total Assets 5.86b

(D) -1.03 = Book Value of Equity -3.22b / Total Liabilities 3.14b

Total Rating: -0.03 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 59.55

1. Piotroski 6.0pt

2. FCF Yield 1.95%

3. FCF Margin 13.95%

4. Debt/Equity 0.58

5. Debt/Ebitda 1.27

6. ROIC - WACC (= -5.07)%

7. RoE 4.45%

8. Rev. Trend 72.20%

9. EPS Trend 18.81%

What is the price of CIEN shares?

As of December 31, 2025, the stock is trading at USD 238.36 with a total of 1,162,997 shares traded.
Over the past week, the price has changed by -0.80%, over one month by +18.63%, over three months by +65.39% and over the past year by +180.39%.

Is CIEN a buy, sell or hold?

Ciena has received a consensus analysts rating of 4.13. Therefore, it is recommended to buy CIEN.

Strong Buy: 7
Buy: 4
Hold: 5
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the CIEN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	237.1	-0.5%
Analysts Target Price	237.1	-0.5%
ValueRay Target Price	301.4	26.4%

CIEN Fundamental Data Overview December 27, 2025

Market Cap USD = 33.89b (33.89b USD * 1.0 USD.USD)
P/E Trailing = 286.0476
P/E Forward = 55.5556
P/S = 7.1062
P/B = 12.4004
P/EG = 1.1322
Beta = 1.177
Revenue TTM = 4.77b USD
EBIT TTM = 245.7m USD
EBITDA TTM = 386.0m USD
Long Term Debt = 1.52b USD (from longTermDebt, last quarter)
Short Term Debt = 25.5m USD (from shortTermDebt, last quarter)
Debt = 1.58b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 490.3m USD (from netDebt column, last quarter)
Enterprise Value = 34.17b USD (33.89b + Debt 1.58b - CCE 1.31b)
Interest Coverage Ratio = 2.75 (Ebit TTM 245.7m / Interest Expense TTM 89.4m)
FCF Yield = 1.95% (FCF TTM 665.3m / Enterprise Value 34.17b)
FCF Margin = 13.95% (FCF TTM 665.3m / Revenue TTM 4.77b)
Net Margin = 2.59% (Net Income TTM 123.3m / Revenue TTM 4.77b)
Gross Margin = 39.89% ((Revenue TTM 4.77b - Cost of Revenue TTM 2.87b) / Revenue TTM)
Gross Margin QoQ = 42.24% (prev 38.52%)
Tobins Q-Ratio = 5.83 (Enterprise Value 34.17b / Total Assets 5.86b)
Interest Expense / Debt = 1.39% (Interest Expense 22.0m / Debt 1.58b)
Taxrate = -581.9% (out of range, set to none) (-16.6m / 2.86m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
Current Ratio = 2.73 (Total Current Assets 3.57b / Total Current Liabilities 1.31b)
Debt / Equity = 0.58 (Debt 1.58b / totalStockholderEquity, last quarter 2.73b)
Debt / EBITDA = 1.27 (Net Debt 490.3m / EBITDA 386.0m)
Debt / FCF = 0.74 (Net Debt 490.3m / FCF TTM 665.3m)
Total Stockholder Equity = 2.77b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.10% (Net Income 123.3m / Total Assets 5.86b)
RoE = 4.45% (Net Income TTM 123.3m / Total Stockholder Equity 2.77b)
RoCE = 5.72% (EBIT 245.7m / Capital Employed (Equity 2.77b + L.T.Debt 1.52b))
RoIC = 7.56% (EBIT 245.7m / (Assets 5.86b - Curr.Liab 1.31b - Cash 1.31b))
WACC = 12.63% (E(33.89b)/V(35.48b) * Re(13.22%) + (debt cost/tax rate unavailable))
Discount Rate = 13.22% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -0.82%
[DCF Debug] Terminal Value 51.06% ; FCFE base≈549.3m ; Y1≈360.6m ; Y5≈164.9m
Fair Price DCF = 12.42 (DCF Value 1.75b / Shares Outstanding 140.9m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 18.81 | EPS CAGR: 19.27% | SUE: 1.22 | # QB: 2
Revenue Correlation: 72.20 | Revenue CAGR: 13.37% | SUE: 4.0 | # QB: 3
EPS next Quarter (2026-01-31): EPS=1.16 | Chg30d=+0.356 | Revisions Net=+11 | Analysts=14
EPS current Year (2026-10-31): EPS=5.34 | Chg30d=+0.984 | Revisions Net=+13 | Growth EPS=+102.3% | Growth Revenue=+24.7%
EPS next Year (2027-10-31): EPS=6.89 | Chg30d=+1.279 | Revisions Net=+6 | Growth EPS=+28.9% | Growth Revenue=+16.4%

Additional Sources for CIEN Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle