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CIENA CORP CIEN

NYSE · stock · Telephone & Telegraph Apparatus · website · IPO 1997-02-01 · LEI

CIENA CORP statistics & valuation

Market cap$67.9B
P / E550.3×
P / S14.2×
P / B24.9×
P / FCF102.0×
Net margin2.6%
Return on equity4.5%
FCF margin13.9%
Net debt$432.2M
Net debt / EBITDA1.4×
Enterprise value USD$68.3B
Earnings yield EBIT/EV0.3%
Return on capital4.3%
Graham number -95.6%$18.96

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($18.96); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
45.00% -11.10% 7.10% 7.10% 10.20% 13.80% 4.20% 5.80% 2.10% 2.60% 2017201820192019202020212022202320242025
Gross margin (%)
44.50% 42.50% 43.20% 43.20% 46.80% 47.60% 43.00% 42.80% 42.80% 42.00% 2017201820192019202020212022202320242025
Operating margin (%)
7.70% 7.40% 9.70% 9.70% 13.80% 13.70% 6.10% 8.20% 4.10% 4.10% 2017201820192019202020212022202320242025
Return on equity (%)
59.10% -17.90% 11.70% 11.70% 14.40% 16.60% 5.60% 8.90% 3.00% 4.50% 2017201820192019202020212022202320242025
Shares outstanding
169.9M 154.3M 157.6M 157.6M 156.0M 156.7M 152.2M 149.4M 146.0M 145.2M 2017201820192019202020212022202320242025
Net debt ($)
-$56.8M -$59.0M -$223.6M -$223.6M -$405.3M -$745.3M $66.8M $532.8M $598.2M $432.2M 2017201820192019202020212022202320242025
Share buybacks ($)
2017201820192019202020212022202320242025
Return on assets (%)
31.90% -9.20% 6.50% 6.50% 8.60% 10.30% 3.00% 4.50% 1.50% 2.10% 2017201820192019202020212022202320242025
Free cash flow margin (%)
5.00% 5.20% 9.80% 9.80% 11.60% 12.80% -7.10% 1.40% 9.40% 13.90% 2017201820192019202020212022202320242025
Debt / equity (×)
0.27× 0.36× 0.31× 0.31× 0.27× 0.22× 0.39× 0.54× 0.54× 0.56× 2017201820192019202020212022202320242025
EPS ($)
$7.53 -$2.49 $1.61 $1.61 $2.32 $3.19 $1.00 $1.71 $0.58 $0.85 2017201820192019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

CIENA CORP trades at about 508.3× earnings — above its 10-year norm (10-year range 2.9×–240.2×, median 26.8×).

2.9× 508.3×

Shaded band = 10-year range (2.9×–240.2×); dot = today's 508.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2019FY2018FY2017
Gross margin42.0%42.8%42.8%43.0%47.6%46.8%43.2%43.2%42.5%44.5%
Operating margin4.1%4.1%8.2%6.1%13.7%13.8%9.7%9.7%7.4%7.7%
Net margin2.6%2.1%5.8%4.2%13.8%10.2%7.1%7.1%-11.1%45.0%
FCF margin13.9%9.4%1.4%-7.1%12.8%11.6%9.8%9.8%5.2%5.0%
Return on assets2.1%1.5%4.5%3.0%10.3%8.6%6.5%6.5%-9.2%31.9%
Return on equity4.5%3.0%8.9%5.6%16.6%14.4%11.7%11.7%-17.9%59.1%
Debt / equity0.56×0.54×0.54×0.39×0.22×0.27×0.31×0.31×0.36×0.27×
Current ratio2.733.543.843.253.513.432.822.822.221.93

Computed from company filings · US · as of 2025-11-01. Facts plus Stocktoria's own computed scores — not investment advice.