Stock CIEN CIENA CORPORATION
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Financials Ciena Corporation

Equities

CIEN

US1717793095

Communications & Networking

Market Closed - Nyse
Other stock markets
 21:00:02 26/04/2024 BST 		5-day change 1st Jan Change
46.61 USD +2.04% Intraday chart for Ciena Corporation +7.00% +3.55%
04-11 BNP Paribas Exane Starts Ciena With Outperform Rating, $57 Price Target MT
03-11 SEA-ME-WE 4 Enables Global Digitalization with Enhanced Connectivity Powered by Ciena Corporation CI

Valuation

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,745 5,932 8,419 7,148 6,064 6,740 - -
Enterprise Value (EV) 1 5,419 5,376 7,492 7,068 6,504 6,922 6,651 6,331
P/E ratio 23.1 x 16.6 x 17 x 48.3 x 24 x 38.3 x 21.5 x 15.1 x
Yield - - - - - - - -
Capitalization / Revenue 1.61 x 1.68 x 2.33 x 1.97 x 1.38 x 1.63 x 1.51 x 1.42 x
EV / Revenue 1.52 x 1.52 x 2.07 x 1.95 x 1.48 x 1.68 x 1.49 x 1.33 x
EV / EBITDA 9.72 x 7.53 x 10.7 x 14.1 x 9.77 x 12 x 9.17 x 7.95 x
EV / FCF 15.5 x 13.1 x 16.2 x -27.3 x 105 x 13.7 x 11.9 x 26.9 x
FCF Yield 6.47% 7.64% 6.17% -3.66% 0.96% 7.28% 8.39% 3.72%
Price to Book 2.69 x 2.36 x 2.79 x 2.64 x 2.09 x 2.26 x 2.08 x 1.9 x
Nbr of stocks (in thousands) 154,696 154,320 154,929 148,142 147,842 144,603 - -
Reference price 2 37.14 38.44 54.34 48.25 41.02 46.61 46.61 46.61
Announcement Date 12/12/19 10/12/20 09/12/21 08/12/22 07/12/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,572 3,532 3,621 3,633 4,387 4,125 4,472 4,757
EBITDA 1 557.3 713.9 702.8 502.4 665.8 579.2 725.1 796.2
EBIT 1 469.6 619.9 606.7 406.5 573.3 472.8 616.4 669.6
Operating Margin 13.15% 17.55% 16.76% 11.19% 13.07% 11.46% 13.78% 14.07%
Earnings before Tax (EBT) 1 313.2 456 462.8 182.5 323.7 226.9 405.8 499
Net income 1 253.4 361.3 500.2 152.9 254.8 195.9 345.4 442.5
Net margin 7.09% 10.23% 13.81% 4.21% 5.81% 4.75% 7.72% 9.3%
EPS 2 1.610 2.320 3.190 1.000 1.710 1.216 2.164 3.087
Free Cash Flow 1 350.6 411 462.1 -258.6 62.14 504 558.2 235.5
FCF margin 9.81% 11.64% 12.76% -7.12% 1.42% 12.22% 12.48% 4.95%
FCF Conversion (EBITDA) 62.91% 57.57% 65.75% - 9.33% 87.01% 76.97% 29.58%
FCF Conversion (Net income) 138.32% 113.76% 92.38% - 24.38% 257.33% 161.62% 53.22%
Dividend per Share 2 - - - - - - - -
Announcement Date 12/12/19 10/12/20 09/12/21 08/12/22 07/12/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: October 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 1,041 844.4 949.2 868 971 1,057 1,133 1,068 1,129 1,038 895.8 1,020 1,170 1,051 1,068
EBITDA 1 199.2 123.7 129.3 96 153.5 155.1 180.6 151.3 178.8 160 66.6 139.7 213.8 152.7 179.9
EBIT 1 175 100 107 73.72 125.8 132.9 156.9 128 155.5 137.2 40.68 111.8 183.2 129.2 144.7
Operating Margin 16.8% 11.84% 11.27% 8.49% 12.96% 12.58% 13.85% 11.99% 13.77% 13.22% 4.54% 10.97% 15.67% 12.3% 13.55%
Earnings before Tax (EBT) 1 129.3 55.04 47.25 14.83 65.38 101.3 87.48 64.34 70.52 71.5 -17.5 50.05 126.8 71.7 99.5
Net income 1 103.5 45.82 38.92 10.51 57.64 76.24 57.65 29.73 91.2 49.55 -14.02 43.04 97.96 59.63 73.64
Net margin 9.94% 5.43% 4.1% 1.21% 5.94% 7.22% 5.09% 2.78% 8.07% 4.77% -1.56% 4.22% 8.37% 5.68% 6.89%
EPS 2 0.6600 0.2900 0.2500 0.0700 0.3900 0.5100 0.3800 0.2000 0.6200 0.3400 -0.0952 0.2970 0.6764 0.4105 0.5081
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 09/12/21 07/03/22 02/06/22 01/09/22 08/12/22 06/03/23 06/06/23 31/08/23 07/12/23 07/03/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - 440 183 - -
Net Cash position 1 327 556 927 80.3 - - 88.7 409
Leverage (Debt/EBITDA) - - - - 0.6604 x 0.3151 x - -
Free Cash Flow 1 351 411 462 -259 62.1 504 558 236
ROE (net income / shareholders' equity) 16.2% 19.7% 16.5% 10.1% 14.6% 11.2% 14% 15%
ROA (Net income/ Total Assets) 8.68% 11.4% 10.1% 5.82% 7.61% 5.91% 7.52% -
Assets 1 2,921 3,170 4,956 2,629 3,347 3,317 4,594 -
Book Value Per Share 2 13.80 16.30 19.50 18.30 19.70 20.70 22.40 24.50
Cash Flow per Share 2 2.620 3.170 3.460 -1.100 1.130 2.860 3.320 4.950
Capex 1 62.6 82.7 79.6 90.8 106 81.4 95.6 97.5
Capex / Sales 1.75% 2.34% 2.2% 2.5% 2.42% 1.97% 2.14% 2.05%
Announcement Date 12/12/19 10/12/20 09/12/21 08/12/22 07/12/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Ciena Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
46.61 USD
Average target price
58.96 USD
Spread / Average Target
+26.50%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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