Ciena (CIEN) Stock Analysis

June 13, 2026

Here is a fundamental analysis of Ciena (CIEN), benchmarking its profitability, financial strength, dividend and valuation against its industry group peers.

Performance

Cumulative Growth

CIEN

GSPC

Ciena (CIEN) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Ciena (CIEN) and S&P 500 (GSPC). Returns over one year are annualized.

Performance at a Glance

Ciena (CIEN) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: CIEN	Industry group median
1-Year Return	501.62%	69.29%

Risk

Drawdown

CIEN

GSPC

Ciena (CIEN) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

Ciena (CIEN) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: CIEN	Industry group median
1-Year Volatility	66.85%	53.66%
Beta	1.30	1.32

Company Profile

Company profile fields for Ciena (CIEN)
Profile Item	CIEN
Name	Ciena Corporation
Country/Region	United States
GICS Sector	Information Technology
GICS Industry Group	Technology Hardware & Equipment
GICS Industry	Communications Equipment
GICS Sub-Industry	Communications Equipment
Market Capitalization	63.13 billion USD
Currency	USD
Exchange	NYSE
Listing Date	February 7, 1997
Security Type	Common Stock

Valuation

Price-to-Earnings Ratio (TTM)

Ciena (CIEN) trades at P/E ratio of 149.16, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

CIEN

Technology Hardware & Equipment industry group

149.16

Group distribution

Max: 171.43
CIEN: 149.16
Q3: 83.19
Median: 39.13
Q1: 23.68
Min: 9.35

Largest peers

CIEN: 149.16
STX: 88.50
SNDK: 67.56
ANET: 56.10
CSCO: 40.37
AAPL: 35.20
DELL: 31.54

Where Ciena (CIEN) stands on P/E ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Sales Ratio (TTM)

Ciena (CIEN) trades at 11.34 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.

CIEN

Technology Hardware & Equipment industry group

11.34

Group distribution

Max: 19.39
CIEN: 11.34
Q3: 9.05
Median: 4.10
Q1: 1.42
Min: 0.00

Largest peers

SNDK: 22.24
ANET: 21.17
STX: 19.13
CIEN: 11.34
AAPL: 9.47
CSCO: 7.86
DELL: 1.91

Where Ciena (CIEN) stands on P/S ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Book Ratio (MRQ)

Ciena (CIEN) trades at 21.83 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

CIEN

Technology Hardware & Equipment industry group

21.83

Group distribution

CIEN: 21.83
Max: 17.76
Q3: 9.32
Median: 4.56
Q1: 2.09
Min: -3.27

Largest peers

STX: 190.79
AAPL: 40.10
CIEN: 21.83
SNDK: 21.27
ANET: 15.24
CSCO: 9.77
DELL: -182.88

Where Ciena (CIEN) stands on P/B ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Valuation at a Glance

Ciena (CIEN) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: CIEN	Industry group median
Price-to-Earnings Ratio (TTM)	149.16	39.13
Price-to-Sales Ratio (TTM)	11.34	4.10
Price-to-Book Ratio (MRQ)	21.83	4.56
Free Cash Flow Yield	1.11%	1.95%

Profitability

Return on Equity (TTM)

Ciena (CIEN) posts ROE of 15.46%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

CIEN

Technology Hardware & Equipment industry group

15.46%

Group distribution

Max: 44.16%
Q3: 19.25%
CIEN: 15.46%
Median: 10.96%
Q1: 0.71%
Min: -25.92%

Largest peers

STX: 1,787.97%
AAPL: 141.47%
SNDK: 39.30%
ANET: 31.52%
CSCO: 25.23%
CIEN: 15.46%
DELL: --

Where Ciena (CIEN) stands on ROE within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Net Profit Margin (TTM)

Ciena (CIEN) keeps 7.87% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

CIEN

Technology Hardware & Equipment industry group

7.87%

Group distribution

Max: 30.43%
Q3: 12.35%
CIEN: 7.87%
Median: 4.45%
Q1: 0.00%
Min: -14.09%

Largest peers

ANET: 38.32%
SNDK: 34.19%
AAPL: 27.15%
STX: 21.60%
CSCO: 19.69%
CIEN: 7.87%
DELL: 6.28%

Where Ciena (CIEN) stands on net margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Operating Profit Margin (TTM)

Ciena (CIEN) turns 15.20% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

CIEN

Technology Hardware & Equipment industry group

15.20%

Group distribution

Max: 35.67%
Q3: 15.55%
CIEN: 15.20%
Median: 6.62%
Q1: 1.55%
Min: -18.45%

Largest peers

SNDK: 69.98%
ANET: 42.74%
STX: 35.67%
AAPL: 32.28%
CSCO: 24.99%
CIEN: 15.20%
DELL: 8.86%

Where Ciena (CIEN) stands on operating margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Profitability at a Glance

Ciena (CIEN) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: CIEN	Industry group median
Return on Equity (TTM)	15.46%	10.96%
Return on Assets (TTM)	6.66%	4.31%
Net Profit Margin (TTM)	7.87%	4.45%
Operating Profit Margin (TTM)	15.20%	6.62%
Gross Profit Margin (TTM)	43.05%	38.82%

Financial Strength

Current Ratio (MRQ)

Ciena (CIEN) has current ratio of 2.73, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

CIEN

Technology Hardware & Equipment industry group

2.73

Group distribution

Max: 5.80
Q3: 3.18
CIEN: 2.73
Median: 1.90
Q1: 1.28
Min: 0.40

Largest peers

SNDK: 4.78
ANET: 2.83
CIEN: 2.73
STX: 1.33
AAPL: 1.07
DELL: 0.95
CSCO: 0.93

Where Ciena (CIEN) stands on current ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Debt-to-Equity Ratio (MRQ)

Ciena (CIEN) has debt-to-equity ratio of 0.55, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

CIEN

Technology Hardware & Equipment industry group

0.55

Group distribution

Max: 2.02
Q3: 0.88
CIEN: 0.55
Median: 0.31
Q1: 0.05
Min: 0.00

Largest peers

STX: 3.82
AAPL: 0.80
CSCO: 0.68
CIEN: 0.55
SNDK: 0.02
DELL: --
ANET: --

Where Ciena (CIEN) stands on debt-to-equity ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength at a Glance

Ciena (CIEN) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: CIEN	Industry group median
Current Ratio (MRQ)	2.73	1.90
Debt-to-Equity Ratio (MRQ)	0.55	0.31
Net Debt / EBITDA	0.48	0.91

Dividends

Dividend Yield (TTM)

Ciena (CIEN) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

CIEN

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 1.30%
Q3: 0.54%
CIEN: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 1.39%
DELL: 0.64%
AAPL: 0.37%
STX: 0.32%
CIEN: 0.00%
SNDK: 0.00%
ANET: 0.00%

Where Ciena (CIEN) stands on dividend yield within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Ciena (CIEN) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

CIEN

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 37.10%
Q3: 15.46%
CIEN: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 55.00%
STX: 27.70%
DELL: 17.57%
AAPL: 12.59%
CIEN: 0.00%
SNDK: 0.00%
ANET: 0.00%

Where Ciena (CIEN) stands on payout ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividends at a Glance

Ciena (CIEN) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: CIEN	Industry group median
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%