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Ciena (CIEN) Cyclically Adjusted FCF per Share : $1.67 (As of Apr. 2024)


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What is Ciena Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Ciena's adjusted free cash flow per share for the three months ended in Apr. 2024 was $0.287. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is $1.67 for the trailing ten years ended in Apr. 2024.

During the past 12 months, Ciena's average Cyclically Adjusted FCF Growth Rate was 31.50% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 15.60% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 135.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Ciena was 421.70% per year. The lowest was -1.20% per year. And the median was 22.85% per year.

As of today (2024-07-24), Ciena's current stock price is $51.03. Ciena's Cyclically Adjusted FCF per Share for the quarter that ended in Apr. 2024 was $1.67. Ciena's Cyclically Adjusted Price-to-FCF of today is 30.56.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Ciena was 3996.00. The lowest was 27.23. And the median was 45.81.


Ciena Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Ciena's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Ciena Cyclically Adjusted FCF per Share Chart

Ciena Annual Data
Trend Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.25 0.88 1.42 1.28 1.36

Ciena Quarterly Data
Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.27 1.23 1.36 1.60 1.67

Competitive Comparison of Ciena's Cyclically Adjusted FCF per Share

For the Communication Equipment subindustry, Ciena's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ciena's Cyclically Adjusted Price-to-FCF Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Ciena's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Ciena's Cyclically Adjusted Price-to-FCF falls into.



Ciena Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Ciena's adjusted Free Cash Flow per Share data for the three months ended in Apr. 2024 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Apr. 2024 (Change)*Current CPI (Apr. 2024)
=0.287/132.2892*132.2892
=0.287

Current CPI (Apr. 2024) = 132.2892.

Ciena Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201407 0.345 100.520 0.454
201410 0.576 100.176 0.761
201501 0.102 98.604 0.137
201504 0.212 99.824 0.281
201507 0.748 100.691 0.983
201510 0.455 100.346 0.600
201601 -0.102 99.957 -0.135
201604 0.263 100.947 0.345
201607 0.289 101.524 0.377
201610 0.596 101.988 0.773
201701 -0.365 102.456 -0.471
201704 0.226 103.167 0.290
201707 0.203 103.278 0.260
201710 0.644 104.070 0.819
201801 0.070 104.578 0.089
201804 0.210 105.708 0.263
201807 0.435 106.324 0.541
201810 0.354 106.695 0.439
201901 -0.186 106.200 -0.232
201904 0.532 107.818 0.653
201907 0.440 108.250 0.538
201910 1.446 108.577 1.762
202001 0.083 108.841 0.101
202004 0.467 108.173 0.571
202007 1.021 109.318 1.236
202010 1.060 109.861 1.276
202101 -0.180 110.364 -0.216
202104 1.238 112.673 1.454
202107 0.341 115.183 0.392
202110 1.548 116.696 1.755
202201 -0.515 118.619 -0.574
202204 0.568 121.978 0.616
202207 -1.509 125.002 -1.597
202210 -0.258 125.734 -0.271
202301 -1.977 126.223 -2.072
202304 1.344 127.992 1.389
202307 -0.111 128.974 -0.114
202310 1.168 129.810 1.190
202401 1.711 130.124 1.739
202404 0.287 132.289 0.287

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Ciena  (NYSE:CIEN) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Ciena's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=51.03/1.67
=30.56

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Ciena was 3996.00. The lowest was 27.23. And the median was 45.81.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Ciena Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Ciena's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Ciena (CIEN) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Ciena Corp (NYSE:CIEN) » Definitions » Cyclically Adjusted FCF per Share
Address
7035 Ridge Road, Hanover, MD, USA, 21076
Ciena Corp is a network and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks. It serves various industries such as communication services providers, web-scale providers, cable operators, government, and large enterprises world-wide. The business activities function through Networking Platforms; Platform Software and Services; Blue Planet Automation Software, and Global Services segments. Geographically, its presence is seen in the markets of the United States, Canada, the Caribbean, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Japan, and India. The maximum revenue is generated from Americas.
Executives
David M Rothenstein officer: Sr. VP, General Counsel 7035 RIDGE ROAD, HANOVER MD 21076
Gary B Smith director, officer: President, CEO C/O CIENA CORPORATION, 7035 RIDGE ROAD, HANOVER MD 21076
Brodie Gage officer: SVP Global Products & Supply 2351 ALFRED-NOBEL BLVD, SUITE N-300, SAINT LAURENT A8 H4S 2A9
Dino Diperna officer: SVP Global R&D 385 TERRY FOX DR, OTTAWA A6 K2K OL1
Jason Phipps officer: SVP Global Sales and Marketing 7410 RIDGE RD, HANOVER MD 21076
Joseph Cumello officer: SVP, General Mgr. Blue Planet 7035 RIDGE RD, HANOVER MD 21076
Scott Mcfeely officer: SVP, Networking Platforms 7035 RIDGE RD, HANOVER MD 21076
Mary G Puma director AXCELIS TECHNOLOGIES INC., 108 CHERRY HILL DRIVE, BEVERLY MA 01915
Andrew C Petrik officer: VP, CONTROLLER 7035 RIDGE ROAD, HANOVER MD 21076
Sheela Kosaraju officer: SVP, General Counsel 43-51 WORSHIP ST, LONDON X0 EC2A 2DX
Stephen B Alexander officer: SVP, Chief Technology Officer C/O CIENA CORPORATION, 7035 RIDGE ROAD, HANOVER MD 21076
Rick Hamilton officer: SVP, Software and Services 9500 AMBERGIEN, AUSTIN TX 78729
Moylan James E Jr officer: SVP Finance, CFO CIENA CORPORATION, 7035 RIDGE ROAD, HANOVER MD 21076
Judith M Obrien director 855 MAUDE AVENUE, MOUNTAIN VIEW CA 94043
Thomas Michael Nevens director C/O BORLAND SOFTWARE CORPORATION, 20450 STEVENS CREEK BLVD, SUITE 800, CUPERTINO CA 95014