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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash-to-Debt 0.98
CIEN's Cash-to-Debt is ranked lower than
67% of the 562 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.24 vs. CIEN: 0.98 )
Ranked among companies with meaningful Cash-to-Debt only.
CIEN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.38  Med: 1.28 Max: No Debt
Current: 0.98
Equity-to-Asset 0.54
CIEN's Equity-to-Asset is ranked lower than
79% of the 553 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.58 vs. CIEN: 0.54 )
Ranked among companies with meaningful Equity-to-Asset only.
CIEN' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.05  Med: 0.44 Max: 0.83
Current: 0.54
-0.05
0.83
Debt-to-Equity 0.44
CIEN's Debt-to-Equity is ranked lower than
83% of the 407 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.29 vs. CIEN: 0.44 )
Ranked among companies with meaningful Debt-to-Equity only.
CIEN' s Debt-to-Equity Range Over the Past 10 Years
Min: -21.22  Med: 0.6 Max: 103.97
Current: 0.44
-21.22
103.97
Debt-to-EBITDA 2.80
CIEN's Debt-to-EBITDA is ranked lower than
62% of the 334 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.96 vs. CIEN: 2.80 )
Ranked among companies with meaningful Debt-to-EBITDA only.
CIEN' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -10.08  Med: 6.67 Max: 234.19
Current: 2.8
-10.08
234.19
Interest Coverage 3.84
CIEN's Interest Coverage is ranked lower than
86% of the 413 Companies
in the Global Communication Equipment industry.

( Industry Median: 67.88 vs. CIEN: 3.84 )
Ranked among companies with meaningful Interest Coverage only.
CIEN' s Interest Coverage Range Over the Past 10 Years
Min: 0.97  Med: 1.96 Max: 3.84
Current: 3.84
0.97
3.84
Piotroski F-Score: 6
Altman Z-Score: 0.53
Beneish M-Score: -0.60
WACC vs ROIC
15.37%
129.51%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry
vs
history
Operating Margin % 7.66
CIEN's Operating Margin % is ranked higher than
68% of the 555 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.53 vs. CIEN: 7.66 )
Ranked among companies with meaningful Operating Margin % only.
CIEN' s Operating Margin % Range Over the Past 10 Years
Min: -88.75  Med: 0.96 Max: 7.66
Current: 7.66
-88.75
7.66
Net Margin % 45.04
CIEN's Net Margin % is ranked higher than
62% of the 557 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.66 vs. CIEN: 45.04 )
Ranked among companies with meaningful Net Margin % only.
CIEN' s Net Margin % Range Over the Past 10 Years
Min: -89.05  Med: -2.94 Max: 45.04
Current: 45.04
-89.05
45.04
ROE % 114.88
CIEN's ROE % is ranked higher than
81% of the 544 Companies
in the Global Communication Equipment industry.

( Industry Median: 4.75 vs. CIEN: 114.88 )
Ranked among companies with meaningful ROE % only.
CIEN' s ROE % Range Over the Past 10 Years
Min: -225.82  Med: 4.21 Max: 114.88
Current: 114.88
-225.82
114.88
ROA % 41.49
CIEN's ROA % is ranked higher than
65% of the 563 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.16 vs. CIEN: 41.49 )
Ranked among companies with meaningful ROA % only.
CIEN' s ROA % Range Over the Past 10 Years
Min: -32.94  Med: -3.37 Max: 41.49
Current: 41.49
-32.94
41.49
ROC (Joel Greenblatt) % 30.10
CIEN's ROC (Joel Greenblatt) % is ranked higher than
74% of the 559 Companies
in the Global Communication Equipment industry.

( Industry Median: 10.80 vs. CIEN: 30.10 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
CIEN' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -428.64  Med: -2.29 Max: 41.66
Current: 30.1
-428.64
41.66
3-Year Revenue Growth Rate -8.70
CIEN's 3-Year Revenue Growth Rate is ranked lower than
69% of the 505 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.10 vs. CIEN: -8.70 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
CIEN' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -51.9  Med: 9.4 Max: 37.3
Current: -8.7
-51.9
37.3
3-Year EBITDA Growth Rate 16.10
CIEN's 3-Year EBITDA Growth Rate is ranked higher than
78% of the 390 Companies
in the Global Communication Equipment industry.

( Industry Median: 8.70 vs. CIEN: 16.10 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
CIEN' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -60.1  Med: 22.4 Max: 169.9
Current: 16.1
-60.1
169.9
GuruFocus has detected 4 Warning Signs with Ciena Corp CIEN.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» CIEN's 30-Y Financials

Financials (Next Earnings Date: 2018-03-08)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

CIEN Guru Trades in Q4 2016

Paul Tudor Jones 63,284 sh (New)
Joel Greenblatt 188,573 sh (New)
Jim Simons 4,032,274 sh (+116.24%)
Chuck Royce 614,700 sh (+29.68%)
PRIMECAP Management 517,470 sh (-0.33%)
Jerome Dodson 800,000 sh (-46.67%)
» More
Q1 2017

CIEN Guru Trades in Q1 2017

Chuck Royce 729,200 sh (+18.63%)
Jerome Dodson 800,000 sh (unchged)
Joel Greenblatt Sold Out
PRIMECAP Management 512,641 sh (-0.93%)
Jim Simons 2,538,974 sh (-37.03%)
Paul Tudor Jones 18,692 sh (-70.46%)
» More
Q2 2017

CIEN Guru Trades in Q2 2017

Chuck Royce 844,917 sh (+15.87%)
Jerome Dodson Sold Out
Paul Tudor Jones Sold Out
PRIMECAP Management 508,127 sh (-0.88%)
Jim Simons 688,474 sh (-72.88%)
» More
Q3 2017

CIEN Guru Trades in Q3 2017

Joel Greenblatt 38,328 sh (New)
Alan Fournier 137,400 sh (New)
Chuck Royce 904,917 sh (+7.10%)
Jim Simons Sold Out
PRIMECAP Management Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with NYSE:CIEN

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2017-09-30 New Buy0.01%$21.11 - $26.8 $ 21.33-11%38,328
Joel Greenblatt 2017-03-31 Sold Out 0.06%$22.85 - $26.41 $ 21.33-13%0
Joel Greenblatt 2016-12-31 New Buy0.06%$19.21 - $24.91 $ 21.33-2%188,573
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Business Description

Industry: Communication Equipment » Communication Equipment    NAICS: 334210    SIC: 3661
Compare:SZSE:300628, TSE:6756, ISX:TOWR, SHSE:600745, SHSE:600260, HKSE:06869, XAMS:TWEKA, TSE:5803, SZSE:002465, HKSE:02038, TSX:MAXR, SZSE:002151, HKSE:00303, SGX:CJLU, NAS:FNSR, SZSE:300038, NAS:LITE, SHSE:600621, SZSE:300098, NAS:VIAV » details
Traded in other countries:CIE1.Germany,
Headquarter Location:USA
Ciena Corp provides telecommunication equipment. Its products include equipment that supports voice, video and data traffic on communications networks.

Ciena is a telecommunications equipment provider focused on optical transport technologies, with clients in a number of industries such as communication services providers, web-scale providers, cable operators, government, and large enterprises worldwide. The company provides equipment, software, and services that support transport, switching, aggregation, service delivery, and data traffic management. Ciena has four reporting segments: converged packet optical, packet networking, optical transport, and software and services.

Guru Investment Theses on Ciena Corp

Jerome Dodson Comments on Ciena - Nov 01, 2016

Ciena (NYSE:CIEN), a leading manufacturer of optical equipment used in telecommunications networks, saw its stock climb 16.3% from $18.75 to $21.80, contributing 75 basis points to the Fund’s return. The company delivered strong revenue growth and gained market share, driven by higher spending from telecom companies. Ciena’s gross margin also exceeded expectations, reaching its highest level since 2010. We believe Ciena is well-positioned for future gains because of its expanding presence in data centers and international markets, as well as increased spending by telecom carriers.



From Jerome Dodson (Trades, Portfolio)'s Parnassus Fund third-quarter 2016 commentary.

Check out Jerome Dodson latest stock trades

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Lumentum to Leverage Ciena’s WaveLogic Coherent Optical Technology

Companies Establish Interoperability Ecosystem for Network Operators MILPITAS, Calif. and LOS ANGELES, March 20, 2017 (GLOBE NEWSWIRE) -- Lumentum Holdings Inc. (“Lumentum”) announced today at the Optical Fiber Conference OFC 2017  it has established with Ciena (:CIEN) the opportunity to leverage Ciena’s WaveLogic coherent technology for Lumentum’s optical module products, establishing a new coherent ecosystem enabling system interoperability with other solutions based on this technology. “Lumentum is excited to partner with Ciena to help create an ecosystem for high-speed coherent transmission technology,” said Doug Alteen, vice president, product line management, Telecom.  â€œWhen we combine Ciena’s leading coherent digital signal processing (DSP) technology with our broad optical component portfolio, and ultimately our photonic integration capability, we believe we can deliver to customers compelling value while still offering interoperability with competing solutions.”     The initial engagement is for development of a 400G transponder capable of up to 400Gb/s on a single wavelength, with operating modes suitable for submarine, long-haul, metro, and data center interconnect applications. This module design leverages the new Ciena WaveLogic Ai coherent digital signal processor device in conjunction with the Lumentum industry-leading portfolio of coherent optical components. Following the initial 400G transponder, Lumentum intends to leverage the WaveLogic roadmap to develop future module solutions, including 400G pluggable modules. About Lumentum Lumentum (NASDAQ:LITE) is a market-leading manufacturer of innovative optical and photonic products enabling optical networking and commercial laser customers worldwide. Lumentum’s optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum’s commercial lasers enable advanced manufacturing techniques and diverse applications including next-generation 3D sensing capabilities. Lumentum is headquartered in Milpitas, California with R&D, manufacturing, and sales offices worldwide.  For more information, visit www.lumentum.com.
Contact
Investors: Chris Coldren, 408-404-0606; [email protected]
Media: Greg Kaufman, 408-546-4593; [email protected]

Read more...

Ratios

vs
industry
vs
history
PE Ratio 2.67
CIEN's PE Ratio is ranked higher than
54% of the 363 Companies
in the Global Communication Equipment industry.

( Industry Median: 25.97 vs. CIEN: 2.67 )
Ranked among companies with meaningful PE Ratio only.
CIEN' s PE Ratio Range Over the Past 10 Years
Min: 2.5  Med: 43.14 Max: 421.67
Current: 2.67
2.5
421.67
Forward PE Ratio 15.58
CIEN's Forward PE Ratio is ranked higher than
80% of the 59 Companies
in the Global Communication Equipment industry.

( Industry Median: 16.45 vs. CIEN: 15.58 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 2.67
CIEN's PE Ratio without NRI is ranked higher than
54% of the 365 Companies
in the Global Communication Equipment industry.

( Industry Median: 25.75 vs. CIEN: 2.67 )
Ranked among companies with meaningful PE Ratio without NRI only.
CIEN' s PE Ratio without NRI Range Over the Past 10 Years
Min: 2.5  Med: 43.14 Max: 421.67
Current: 2.67
2.5
421.67
Price-to-Owner-Earnings 2.90
CIEN's Price-to-Owner-Earnings is ranked lower than
84% of the 236 Companies
in the Global Communication Equipment industry.

( Industry Median: 22.68 vs. CIEN: 2.90 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
CIEN' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 2.9  Med: 55.97 Max: 447.87
Current: 2.9
2.9
447.87
PB Ratio 1.59
CIEN's PB Ratio is ranked lower than
69% of the 540 Companies
in the Global Communication Equipment industry.

( Industry Median: 9999.00 vs. CIEN: 1.59 )
Ranked among companies with meaningful PB Ratio only.
CIEN' s PB Ratio Range Over the Past 10 Years
Min: 0.49  Med: 3.93 Max: 94.01
Current: 1.59
0.49
94.01
PS Ratio 1.21
CIEN's PS Ratio is ranked higher than
51% of the 543 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.31 vs. CIEN: 1.21 )
Ranked among companies with meaningful PS Ratio only.
CIEN' s PS Ratio Range Over the Past 10 Years
Min: 0.59  Med: 1.19 Max: 5.99
Current: 1.21
0.59
5.99
Price-to-Free-Cash-Flow 26.04
CIEN's Price-to-Free-Cash-Flow is ranked lower than
69% of the 212 Companies
in the Global Communication Equipment industry.

( Industry Median: 20.00 vs. CIEN: 26.04 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
CIEN' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 7.31  Med: 24.46 Max: 99999999.99
Current: 26.04
7.31
99999999.99
Price-to-Operating-Cash-Flow 15.05
CIEN's Price-to-Operating-Cash-Flow is ranked lower than
58% of the 275 Companies
in the Global Communication Equipment industry.

( Industry Median: 13.33 vs. CIEN: 15.05 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
CIEN' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 5.44  Med: 17.74 Max: 890.56
Current: 15.05
5.44
890.56
EV-to-EBIT 14.44
CIEN's EV-to-EBIT is ranked higher than
61% of the 371 Companies
in the Global Communication Equipment industry.

( Industry Median: 19.58 vs. CIEN: 14.44 )
Ranked among companies with meaningful EV-to-EBIT only.
CIEN' s EV-to-EBIT Range Over the Past 10 Years
Min: -781.9  Med: 13.3 Max: 224
Current: 14.44
-781.9
224
EV-to-EBITDA 9.14
CIEN's EV-to-EBITDA is ranked higher than
66% of the 401 Companies
in the Global Communication Equipment industry.

( Industry Median: 13.98 vs. CIEN: 9.14 )
Ranked among companies with meaningful EV-to-EBITDA only.
CIEN' s EV-to-EBITDA Range Over the Past 10 Years
Min: -86.9  Med: 16.45 Max: 364.4
Current: 9.14
-86.9
364.4
EV-to-Revenue 1.09
CIEN's EV-to-Revenue is ranked higher than
54% of the 547 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.38 vs. CIEN: 1.09 )
Ranked among companies with meaningful EV-to-Revenue only.
CIEN' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.4  Med: 1.4 Max: 6.1
Current: 1.09
0.4
6.1
PEG Ratio 0.09
CIEN's PEG Ratio is ranked higher than
95% of the 156 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.78 vs. CIEN: 0.09 )
Ranked among companies with meaningful PEG Ratio only.
CIEN' s PEG Ratio Range Over the Past 10 Years
Min: 0.09  Med: 0.89 Max: 1.11
Current: 0.09
0.09
1.11
Current Ratio 1.93
CIEN's Current Ratio is ranked higher than
70% of the 543 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.05 vs. CIEN: 1.93 )
Ranked among companies with meaningful Current Ratio only.
CIEN' s Current Ratio Range Over the Past 10 Years
Min: 1.93  Med: 5.05 Max: 8.61
Current: 1.93
1.93
8.61
Quick Ratio 1.68
CIEN's Quick Ratio is ranked higher than
72% of the 543 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.53 vs. CIEN: 1.68 )
Ranked among companies with meaningful Quick Ratio only.
CIEN' s Quick Ratio Range Over the Past 10 Years
Min: 1.68  Med: 4.3 Max: 7.61
Current: 1.68
1.68
7.61
Days Inventory 62.24
CIEN's Days Inventory is ranked higher than
60% of the 531 Companies
in the Global Communication Equipment industry.

( Industry Median: 76.05 vs. CIEN: 62.24 )
Ranked among companies with meaningful Days Inventory only.
CIEN' s Days Inventory Range Over the Past 10 Years
Min: 51.04  Med: 77.8 Max: 90.08
Current: 62.24
51.04
90.08
Days Sales Outstanding 81.06
CIEN's Days Sales Outstanding is ranked lower than
65% of the 502 Companies
in the Global Communication Equipment industry.

( Industry Median: 69.36 vs. CIEN: 81.06 )
Ranked among companies with meaningful Days Sales Outstanding only.
CIEN' s Days Sales Outstanding Range Over the Past 10 Years
Min: 55.99  Med: 81.63 Max: 101.41
Current: 81.06
55.99
101.41
Days Payable 61.02
CIEN's Days Payable is ranked lower than
51% of the 453 Companies
in the Global Communication Equipment industry.

( Industry Median: 62.71 vs. CIEN: 61.02 )
Ranked among companies with meaningful Days Payable only.
CIEN' s Days Payable Range Over the Past 10 Years
Min: 36.18  Med: 59.15 Max: 99.07
Current: 61.02
36.18
99.07

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -16.70
CIEN's 3-Year Average Share Buyback Ratio is ranked lower than
76% of the 374 Companies
in the Global Communication Equipment industry.

( Industry Median: -3.10 vs. CIEN: -16.70 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
CIEN' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -20.3  Med: -8.8 Max: -1.3
Current: -16.7
-20.3
-1.3

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 1.92
CIEN's Price-to-Tangible-Book is ranked lower than
74% of the 508 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.37 vs. CIEN: 1.92 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
CIEN' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 1.27  Med: 3.66 Max: 37.62
Current: 1.92
1.27
37.62
Earnings Yield (Greenblatt) % 6.93
CIEN's Earnings Yield (Greenblatt) % is ranked higher than
74% of the 559 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.56 vs. CIEN: 6.93 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
CIEN' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -97.8  Med: 0.5 Max: 11.5
Current: 6.93
-97.8
11.5
Forward Rate of Return (Yacktman) % 32.88
CIEN's Forward Rate of Return (Yacktman) % is ranked higher than
88% of the 260 Companies
in the Global Communication Equipment industry.

( Industry Median: 9.56 vs. CIEN: 32.88 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
CIEN' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -22.4  Med: -4.6 Max: 60.6
Current: 32.88
-22.4
60.6

More Statistics

Revenue (TTM) (Mil) $2,801.69
EPS (TTM) $ 7.99
Beta1.73
Short Percentage of Float15.10%
52-Week Range $19.40 - 27.98
Shares Outstanding (Mil)143.04

Analyst Estimate

Oct18 Oct19 Oct20
Revenue (Mil $) 2,935 3,084 3,229
EPS ($) 1.45 1.70 1.82
EPS without NRI ($) 1.45 1.70 1.82
EPS Growth Rate
(Future 3Y To 5Y Estimate)
12.96%
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 66
Positive ROAY
Positive CFROAY
Higher ROA yoyY
CFROA > ROAN
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyY
Higher Gross Margin yoyN
Higher Asset Turnover yoyY

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