Stock Analysis
Ciena CorporationCIEN
P/E 72.10×· 5Y range 15.24–340.73×· 62th percentile of history
Sector: Technology · Industry: Telephone & Telegraph Apparatus
AnalystsStrong Buy26 analystsP/E 72.1× sits at the 62nd percentile of its 5.089664613278576-year history.
Cash covers 85% of debt · Q1 2026.
PMP Verdict
High quality, fairly valued
Strengths
- Quality97
- Financial Health73
Risks
- Growth37
Strong fundamentals at a reasonable valuation.
Market context
-6.7% today· Z 1.5σ
Bull Case
- ✓Piotroski F-Score 7/9 — high earnings quality
- ✓Altman Z 9.4 — safe-zone balance sheet
- ✓ROE 23.4% — efficient capital deployment
What's happening with CIEN
Profile
Strong earnings quality; valuation, growth and moat lag behind.
How is each axis scored?
- Valuation22/100 · Weak
- P/E vs own history (62th pct)5/25
- FCF yield (1.7%)5/25
- P/S (7.7x)12/25
- EV/EBIT (63.4x)0/25
- Growth37/100 · Weak
- Revenue CAGR (7.1%)12/25
- Net income CAGR (-29.5%)0/25
- EPS CAGR 5Y (-28.2%)0/25
- Fwd implied growth (53.5%)25/25
- Profitability72/100 · Moderate
- ROIC (19.3%)20/25
- ROE (23.4%)20/25
- Net margin (10.9%)20/25
- Operating margin (12.3%)12/25
- Financial Health73/100 · Moderate
- Altman Z (9.38)25/25
- Current ratio (2.81)25/25
- Interest coverage (1.7x)3/25
- Net cash / debt (D/A 4%)20/25
- Quality97/100 · Strong
- Piotroski F (7/9)22/25
- Beneish M (-2.95)25/25
- FCF conversion (124%)25/25
- Margin stability (σ 3.6%)25/25
- Moat44/100 · Weak
- ROIC >12% years (4/10 yrs)6/25
- Median gross margin (43.1%)20/25
- FCF-positive years (9/10 yrs)18/25
- Worst-year net margin (worst -11.1%)0/25
Risk Flags
- ⚠Interest coverage 1.7× — thin debt cushion
About Ciena Corporation
Ciena is a leader in high-speed optical connectivity, providing systems, components, and automation software for telecom providers and enterprises, such as data centers, to enable long-distance connectivity. Show more
The company operates through four primary business segments: networking platforms, platform software and services, Blue Planet automation software, and global services. While telecom carriers remain important customers, cloud providers and hyperscalers now drive a significant portion of the business. To meet the demands of AI data centers, customers are adopting Ciena's WaveLogic 6 platform, the first to support 1.6 terabits-per-second capacity.
Headquarters: HANOVER, MD · Employees: 9,080 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
22EP/E (TTM)71.3xD
Grade D: ExpensivePrice / TTM EPS (own statements) — vs own 5Y history: 15.2x–340.7x · 62nd pct
P/FCF59.6xD
Grade D: ExpensivePrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative
FCF Yield1.7%C
Grade C: LowTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -7.0%–9.6% · 44th pct
P/S (TTM)7.75xC
Grade C: ExpensivePrice / TTM Revenue (own statements) — vs own 5Y history: 1.4x–16.4x · 86th pct
EV/EBIT63.4xD
Grade D: ExpensiveEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 17.1x–255.5x · 69th pct
EV/Sales8.2xC
Grade C: ExpensiveEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E46.4xD
Grade D: ExpensivePrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio16.71xD
Grade D: Very expensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio0.22A
Grade A: CheapFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield—
TTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio—
Dividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Profitability
72B+ROIC19.3%A
Grade A: MoatNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE23.4%A
Grade A: StrongReturn on Equity. Neg. equity = heavy buybacks
ROA10.2%A
Grade A: StrongReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin10.9%A
Grade A: HighNet Income / Revenue
Operating Margin12.3%C
Grade C: AverageTTM EBIT / TTM Revenue
Gross Margin44.1%C
Grade C: AverageGross Profit / Revenue
FCF Margin13.5%C
Grade C: AverageFCF / Revenue
True FCF Margin10.0%C
Grade C: AverageTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost
Growth
37DRevenue CAGR7.1%C
Grade C: OkCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR-29.5%D
Grade D: LowCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)-28.2%D
Grade D: LowCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth53.5%A
Grade A: HighAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)-9.5%A
Grade A: BuybacksShare count change over 5Y
SBC / Net Income32.4%D
Grade D: HighStock-based comp/Net income. >30% = dilution risk
SBC / Revenue3.5%C
Grade C: MedTTM stock-based comp / TTM Revenue
Financial Health
73B+Altman Z-Score9.38A
Grade A: SafeBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio2.81xA
Grade A: HighCurrent Assets/Liabilities
Quick Ratio2.79xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage1.7xD
Grade D: RiskyEBIT/Interest. >10 Strong
Debt Repayment0.3yA
Grade A: FastYears to repay net debt via FCF
Net Debt/EBIT0.3xA
Grade A: LowLeverage. <2x Low, >4x High
Debt/Equity0.55xA
Grade A: LowDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt0.85xC
Grade C: PartialCash covers how much of total debt. >1 = could repay all debt from cash
Quality
97A+Piotroski F-Score7/9A
Grade A: StrongFinancial strength 0–9. >7 Strong
Beneish M-Score-2.95A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion124.4%A
Grade A: StrongFCF / Net Income
Margin Stability3.6%A
Grade A: StableEBIT margin std deviation. Lower = stable
Capex / Revenue4.0%A
Grade A: Asset-lightTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.93xC
Grade C: AverageRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
SMITH GARY B Filed | SMITH GARY B | SellOpen market sale | -2952 | |
Graff Marc D. Filed | Graff Marc D. | SellOpen market sale | -97 | |
Kosaraju Sheela Filed | Kosaraju Sheela | SellOpen market sale | -2101 | |
Phipps Jason Filed | Phipps Jason | SellOpen market sale | -2629 | |
Cumello Joseph Filed | Cumello Joseph | SellOpen market sale | -1586 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Claflin Bruce L. Filed | Claflin Bruce L. | SellOpen market sale | -2857 | |
NEVENS THOMAS MICHAEL Filed | NEVENS THOMAS MICHAEL | Gift | -2797 | |
NEVENS THOMAS MICHAEL Filed | NEVENS THOMAS MICHAEL | SellOpen market sale | -3738 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
44D+ROIC >12% Years4/10 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)43.1%A
Grade A: DurableMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years9/10 yrsA
Grade A: DurableShare of completed fiscal years with positive free cash flow
Net Margin Floor-11.1%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$4.61
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$18.53
Cash & short-term investments per share (Finnhub)
Book Value / Share$21.54
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$1.52B
Total debt obligations (short + long term)
Cash & Equiv.$1.30B
Cash and short-term investments
Net Debt$225.02M
Total Debt minus Cash. Negative = Net Cash position
Total Equity$2.79B
Shareholders' equity (book value)
Asset / Liability1.90xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$46.66B
Current Market Capitalization
Beta1.34C
Grade C: VolatilePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Aug 2026 · Ratio snapshot Oct 17, 2026
Key Insights: Ciena Corporation (CIEN)
CIEN is down 6.67% at the last close. Ciena Corporation meets 7 of 9 Piotroski F-Score criteria, placing its fundamental strength in the top tier of US-listed stocks. Altman Z-Score of 9.38 sits comfortably in the safe zone (≥ 2.99), indicating low bankruptcy risk. Beneish M-Score of -2.95 suggests a low likelihood of earnings manipulation. Takes ~0.3 years to repay net debt from free cash flow.
- Interest coverage of 1.7× leaves little room for earnings shocks.
- Ciena Corporation posted a net loss in 1 of 10 available completed fiscal years (2016–2025).
- At a valuation score of 22/100, CIEN trades at a premium to its historical multiples (P/E 71.3).
- Return on equity of 23.4% is well above the market average.
See how CIEN ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all CIEN moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 14 | Regular | 359.14 | -10.30% | -2.40 |
| Oct 14 | After-hours | 353.30 | -11.76% | -2.74 |
| Oct 12 | Regular | 403.96 | -10.19% | -3.01 |
| Oct 12 | After-hours | 402.76 | -10.45% | -3.08 |
| Oct 6 | Regular | 440.28 | +12.98% | 3.20 |
Frequently Asked Questions about CIEN
What is the current Ciena Corporation (CIEN) stock price?
CIEN is trading at $332.73 at the last market close, down 6.67% on the session. PreMarketPrice tracks CIEN pre-market, intraday and after-hours prices.
Is CIEN stock a buy right now?
PreMarketPrice's quantitative model rates Ciena Corporation's financial health at 73/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is CIEN stock overvalued?
Ciena Corporation trades at a trailing P/E of 71.3 and our valuation score rates it 22/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Ciena Corporation report earnings?
No confirmed earnings date is currently scheduled for CIEN. The Earnings section lists recent reports and updates as dates are announced.
What sector does Ciena Corporation operate in?
Ciena Corporation operates in the Technology sector, within the Telephone & Telegraph Apparatus industry. The Related Stocks section lists sector peers for comparison.
What does Ciena Corporation do?
Ciena is a leader in high-speed optical connectivity, providing systems, components, and automation software for telecom providers and enterprises, such as data centers, to enable long-distance connectivity.
About Ciena Corporation (CIEN) Stock
Ciena Corporation (CIEN) is a US-listed stock operating in the Technology sector, specifically the Telephone & Telegraph Apparatus industry. As of the latest update, Ciena Corporation is trading at $332.73, down 6.67% on the day with a market capitalization of $46.7 billion. The financial health score for CIEN is 73/100, which indicates good financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for CIEN stock.
CIEN Stock Analysis & Key Metrics
On PreMarketPrice, you can track Ciena Corporation (CIEN) across multiple dimensions:
- Pre-market price & movement: Real-time CIEN stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for CIEN with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Ciena Corporation across multiple reporting periods.
- Financial health score: A composite score of 73/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for CIEN.
- Sector peers: Compare CIEN against 5 other technology stocks on key financial metrics.
Is CIEN a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Ciena Corporation (CIEN) as an investment. The financial health score of 73/100 suggests good financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Ciena Corporation (CIEN) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.