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Stocks/Information Technology/Communications Equipment

CienaCIEN

Communications Equipment · Hanover, Maryland · In the S&P 500
Solid businessPricier than peers
$320.72−8.22%After hours: $323.86 (+0.98%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 69.5% over 1 year
Ciena over 1 yearDaily close, $, to 30 Oct 2026
$200$400$600Nov2026MarMayJulSep$320.72$200$400$600NovMarJul$320.72
Source: Nasdaq daily closes
Market value$45.48B
Price to earnings71.6x
Forward P/E30.8x
Dividend yield–
Year to date+37.1%
One year+69.5%
Next earningsNot scheduled
SectorInformation Technology
52-week range (closes)
$176.45$627.00

Quality and valuation

How Ciena compares with other information technology stocks. A description, not a recommendation.

Ciena and 5 communications equipment peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: pricier than most

An average business among information technology companies, priced above most of them.

Ciena trades at 30.8 times the next 12 months of expected earnings, against a median of 22.2x for the 99 information technology stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +32.6% vs +20.6%
  • Keeps less of each sale (gross margin): 44.1% vs 61.5%
  • Less profitable (operating margin): 12.3% vs 17.0%
  • Turns less of its sales into cash: 13.5% vs 21.7%
CIEN trades at 30.8x forward earnings, above the sector medianForward p/e, Communications Equipment peers
FFIV19.6xCSCO20.4xMSI27.1xCIEN30.8xANET36.4xLITE38.6xSector median 22.2xFFIV19.6xCSCO20.4xMSI27.1xCIEN30.8xANET36.4xLITE38.6xSector median 22.2x
Source: CNBC quotes; Mostly Markets
At 71.6x earnings, CIEN is cheaper than its average since Sep 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
200x300x400xAverage 162.6x2025202671.6x200x400xAverage 162.6x2025202671.6x
Source: Nasdaq prices; SEC filings

Financials

From Ciena's SEC filings, through the quarter ending 1 Aug 2026. Hover or tap a bar for its value.

Revenue grew 37.0% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0.0bn$0.5bn$1.0bn$1.5bnQ4 ’24Q2 ’25Q4 ’25$1.7bnQ3 ’26$0bn$1bnQ4 ’24Q2 ’25Q4 ’25$1.7bnQ3 ’26
Source: SEC filings
Growth slowed to +37.0% last quarterRevenue growth, year on year, %
0%10%20%30%Q4 ’24Q2 ’25Q4 ’2537.0%Q3 ’260%20%Q4 ’24Q2 ’25Q4 ’2537.0%Q3 ’26
Source: SEC filings
Operating margin was 18.0% last quarterOperating income as a share of revenue, %
0%5%10%15%Q4 ’24Q2 ’25Q4 ’2518.0%Q3 ’260%10%Q4 ’24Q2 ’25Q4 ’2518.0%Q3 ’26
Source: SEC filings
Free cash flow was $814 million over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
$0m$100m$200m$300mQ4 ’24Q2 ’25Q4 ’25$116mQ3 ’26$0m$200mQ4 ’24Q2 ’25Q4 ’25$116mQ3 ’26
Source: SEC filings
Last 12 monthsCIENSector median
Revenue growth+32.6%+20.6%
Gross margin44.1%61.5%
Operating margin12.3%17.0%
Free cash flow margin13.5%21.7%
Price to earnings71.6x33.1x

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Similar companies

Communications Equipment, by market value.

CompanyPriceTodayYTDValue
CSCOCisco$104.51−3.76%+35.7%$412B
ANETArista Networks$168.86−8.34%+28.9%$213B
MSIMotorola Solutions$491.53−0.11%+28.2%$81.34B
LITELumentum$840.70−8.57%+128.1%$76.15B
FFIVF5$338.34−6.91%+32.5%$19.22B