# Ciena Corporation (CIEN) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Technology / Networking & Communications Equipment. Price $300.08, market value $42.6 billion.

## Valuation
- **P/E (trailing): 67.1×** (5-yr avg 84.6×, 3-yr avg 119.2×). Ciena Corporation trades at 67.1× trailing earnings, well below its own five-year average of 84.6×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×. Forward P/E is 25.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.54**. A PEG of 0.54 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 7.1×**. Each dollar of revenue is priced at 7.1×.
- **Price / book: 13.9×**. The shares trade at 13.9× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 1.9%** (5-yr avg 1.9%). Free cash flow equals 1.9% of the market value, in line with its five-year average of 1.9%.
- **Earnings yield: 1.5%**. The inverse of the P/E: 1.5% of the price is earned each year.

## Profitability
- **Gross margin: 44.1%**. Ciena Corporation keeps 44.1% of revenue after the direct cost of what it sells.
- **Operating margin: 12.3%**. 12.3% of revenue is left after running the business.
- **Net margin: 2.6%**. 2.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.5%**. 4.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 18.4%**. Return on all capital, debt included, is 18.4%: comfortably above what that capital costs.
- **Return on assets: 11.2%**. Each dollar of assets produces 11.2% of profit.

## Growth
- **Revenue growth (1 yr): 18.8%** (3-yr 9.5%/yr, 5-yr 6.2%/yr). Revenue grew 18.8% over the last year, against 6.2% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 46.6%** (3-yr -5.3%/yr, 5-yr -18.2%/yr). Earnings per share rose 46.6%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.56**. Debt is 0.56 times equity, moderate leverage.
- **Current ratio: 2.73** (quick 2.73). Current assets cover the next year's liabilities 2.73 times.
- **Altman Z-score: 10.18**. A Z-score of 10.18 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. Ciena Corporation does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (20 analysts). 20 analysts cover Ciena Corporation; the consensus is buy, with an average price target of $512.99 (+71% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 49.7%** (YTD 21.6%, 3-mo -27.2%). The shares are up 49.7% over twelve months including dividends.
- **From 52-week high: -52.9%** (78.4% above the low). Trading 53% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 35**. An RSI of 35 is neutral.
- **Beta (1 yr): 2.76** (volatility 78%). Beta of 2.76 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CIEN · Page: https://foliofundamentals.com/stocks/cien

Not investment advice.