# Ciena Corporation (CIEN) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Technology / Communications Equipment. Price $321.00, market value $45.5 billion.

## Valuation
- **P/E (trailing): 72.0×** (5-yr avg 84.6×, 3-yr avg 119.2×). Ciena Corporation trades at 72.0× trailing earnings, close to its own five-year average of 84.6×. The Technology median in the September 2026 study was 32.1×. Forward P/E is 27.7×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.60**. A PEG of 0.60 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 7.6×**. Each dollar of revenue is priced at 7.6×.
- **Price / book: 14.9×**. The shares trade at 14.9× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 1.8%** (5-yr avg 1.9%). Free cash flow equals 1.8% of the market value, in line with its five-year average of 1.9%.
- **Earnings yield: 1.4%**. The inverse of the P/E: 1.4% 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.
- **Altman Z-score: 10.29**. A Z-score of 10.29 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** (19 analysts). 19 analysts cover Ciena Corporation; the consensus is buy, with an average price target of $557.29 (+74% 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): 174.5%** (YTD 37.3%, 3-mo -34.2%). The shares are up 174.5% over twelve months including dividends.
- **From 52-week high: -49.6%** (172.2% above the low). Trading 50% 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): 34**. An RSI of 34 is neutral.
- **Beta (1 yr): 2.60** (volatility 71%). Beta of 2.60 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.