CIEN Financials Ciena

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Sep 6, 2026, 10:11 UTC Overview →

Growth & profitability

Revenue has grown 6.2% per year over the past 5 years.
Net income has grown slower than revenue (-19.3% vs 6.2% per year).
Operating margin has contracted, at 4.1% in the latest year.
Free cash flow has grown 10.1% per year over the past 5 years.

Financial health

Total debt ($1.5B) exceeds cash ($1.1B); net debt is $444M.
Total debt has grown faster than revenue (17.6% vs 6.2% per year).
Operating income covered interest expense 2.2× in the latest year.
Total debt is 7.8× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$4.8B	$123M	42.0%	4.1%	4.5%	2.1%	$665M	$1.5B	$1.1B
2024	$4.0B	$84M	42.8%	4.1%	3.0%	1.5%	$378M	$1.5B	$935M
2023	$4.4B	$255M	42.8%	8.2%	8.9%	4.5%	$62M	$1.6B	$1.0B
2022	$3.6B	$153M	43.0%	6.1%	5.6%	3.0%	-$259M	$1.1B	$994M
2021	$3.6B	$500M	47.6%	13.7%	16.6%	10.3%	$462M	$677M	$1.4B
2020	$3.5B	$361M	46.8%	13.8%	14.4%	8.6%	$411M	$683M	$1.1B
2019	$3.6B	$253M	43.2%	9.7%	11.7%	6.5%	$351M	$687M	$904M
2019	$3.6B	$253M	43.2%	9.7%	11.7%	6.5%	$351M	$680M	$904M
2018	$3.1B	-$345M	42.5%	7.4%	-17.9%	—	$162M	—	—
2018	$3.1B	-$345M	42.5%	7.4%	-17.9%	-9.2%	$162M	$686M	$745M
2017	$2.8B	$1.3B	44.5%	7.7%	59.1%	31.9%	$140M	$393M	$641M
2016	$2.6B	$73M	44.7%	6.0%	9.5%	2.5%	$182M	$486M	$778M
2015	—	$12M	—	—	1.9%	0.4%	$200M	$1.3B	$791M
2014	—	-$41M	—	—	58.4%	-2.0%	$42M	$1.3B	$587M
2013	—	-$85M	—	—	103.3%	-4.7%	$864000	$1.2B	$346M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Aug '26	$1.7B	$266M	45.4%	18.0%	8.7%	3.3%	$116M	$3.2B	$2.4B
May '26	$1.6B	$218M	44.0%	15.1%	7.5%	3.6%	$219M	$1.5B	$1.0B
Jan '26	$1.4B	$150M	43.8%	13.3%	5.4%	2.6%	$154M	$1.5B	$1.1B
Nov '25	$1.4B	$19M	42.7%	0.8%	0.7%	0.3%	$326M	$1.5B	$1.1B
Aug '25	$1.2B	$50M	41.3%	6.0%	1.8%	0.9%	$135M	$1.5B	$1.1B
May '25	$1.1B	$9M	40.2%	2.9%	0.3%	0.2%	$128M	$1.5B	$950M
Feb '25	$1.1B	$45M	44.0%	7.5%	1.6%	0.8%	$77M	$1.5B	$875M
Nov '24	$1.1B	$37M	40.9%	5.3%	1.3%	0.7%	$266M	$1.5B	$935M
Jul '24	$942M	$14M	42.9%	2.8%	0.5%	0.3%	-$179M	$1.6B	$883M
Apr '24	$911M	-$17M	42.7%	-0.4%	-0.6%	-0.3%	$42M	$1.6B	$1.1B
Jan '24	$1.0B	$50M	45.0%	8.2%	1.7%	0.9%	$249M	$1.6B	$1.3B
Oct '23	$1.1B	$91M	43.1%	8.1%	3.2%	1.6%	$173M	$1.6B	$1.0B
Jul '23	$1.1B	$30M	42.0%	7.3%	1.0%	0.5%	-$17M	$1.6B	$1.1B
Apr '23	$1.1B	$58M	43.1%	9.1%	2.0%	1.0%	$202M	$1.6B	$1.2B
Jan '23	$1.1B	$76M	43.2%	8.1%	2.7%	1.3%	-$296M	$1.6B	$1.1B
Oct '22	$971M	$58M	44.7%	8.0%	2.1%	1.1%	-$38M	$1.1B	$994M
Jul '22	$868M	$11M	39.3%	3.1%	0.4%	0.2%	-$227M	—	$860M
Apr '22	$949M	$39M	42.3%	6.2%	1.4%	0.8%	$87M	—	$1.0B
Jan '22	$844M	$46M	45.5%	7.1%	1.6%	0.9%	-$80M	—	$1.1B
Oct '21	$1.0B	$103M	45.8%	13.2%	3.4%	2.1%	$243M	$677M	$1.4B

Valuation over time

How the market has priced CIEN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 48.7× (Mar '23) to 330.8× (Nov '26).
The price-to-sales ratio has risen from 2.1× (Mar '23) to 8.6× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is CIEN growing its revenue and profit?

Over the past 5 years, Ciena's revenue has grown 6.2% per year, and net income declined 19.3% per year. These are computed facts, not advice.

How much debt does CIEN have?

As of FY2025, Ciena reported $1.5B of total debt against $1.1B of cash; operating income covered interest expense 2.2×.

What is CIEN's profit margin?

In FY2025, gross margin was 42.0%, operating margin 4.1%, and net margin 2.6%.

What is CIEN's P/E ratio?

Ciena's P/E (TTM) is 62.34 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the CIEN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 330.8× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.