Ciena Corporation
CIEN Technology Communication Equipment
Ciena Corporation’s revenue for fiscal 2025 (year ended October 2025) was $4.8 billion, up 18.8% from fiscal 2024. In the quarter to July 2026, revenue grew 37.1%, EPS grew 437.1%, free cash flow fell 13.6% and total debt rose 110.0%, each against the same quarter a year earlier. Member of the S&P 500; operating cash flow growth for three consecutive years.
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Ciena Corporation (CIEN) Gross margin
Ciena Corporation's gross margin over the twelve months to 31 July 2026 was 44.1%, up 2.0 percentage points from fiscal 2025 (42.0%). Over the past ten years it has ranged from 42.0% (fiscal 2025) to 47.6% (fiscal 2021) — the current reading is the lowest in ten years. That is above the Communication Equipment industry median of 39.5% and below the Technology sector median of 47.2%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 42.0% | (0.79) |
| FY2024 | 42.8% | 0.00 |
| FY2023 | 42.8% | (0.12) |
| FY2022 | 43.0% | (4.61) |
| FY2021 | 47.6% | 0.76 |
| FY2020 | 46.8% | 3.63 |
| FY2019 | 43.2% | 0.68 |
| FY2018 | 42.5% | (1.98) |
| FY2017 | 44.5% | (0.20) |
| FY2016 | 44.7% | 0.69 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jul 2026 | 45.4% | 1.40 |
| Apr 2026 | 44.0% | 0.20 |
| Jan 2026 | 43.8% | 1.14 |
| Oct 2025 | 42.7% | 1.43 |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| MSI Motorola Solutions, Inc. compare | 52.0% |
| ZBRA Zebra Technologies Corporation compare | 49.6% |
| ERIC Ericsson compare | 47.0% |
| UI Ubiquiti Inc. compare | 46.2% |
| NOK Nokia Corporation compare | 44.4% |
| CIEN Ciena Corporation | 44.1% |
| LITE Lumentum Holdings Inc. compare | 41.7% |
| ASTS AST SpaceMobile, Inc. compare | 38.9% |
| HPE Hewlett Packard Enterprise Company compare | 36.7% |
| Communication Equipment industry median | 39.5% |
| Technology sector median | 47.2% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement