CienaHAM:CIE1 +2.18%72 Piotroski F-Score is 7 as of Jun. 29, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates HAM:CIE1 with a GF Score™ of 72/100 and a GF Value™ of €82.97 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,432 Hardware companies, Ciena ranks better than 91.12% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ciena has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Ciena's Piotroski F-Score or its related term are showing as below:
HAM:CIE1'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Ciena was 8. The lowest was 2. And the median was 6.
Ciena (HAM:CIE1) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Ciena Piotroski F-Score Related Terms
Ciena Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Ciena's Piotroski F-Score 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.
HAM:CIE1 vs MSI, LITE, HPE: Piotroski F-Score Comparison
For the Communication Equipment subindustry, Ciena's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Ciena's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Ciena's Piotroski F-Score falls into.
* 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.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Ciena's current Net Income (TTM) was 374.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Ciena's current ratio of this year was 2.72674214. Ciena's current ratio of last year was 3.40412799.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Ciena's number of shares in issue this year was 146.314. Ciena's number of shares in issue last year was 144.972.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Ciena's gross margin of this year was 0.43044405. Ciena's gross margin of last year was 0.41983234.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Ciena's asset turnover of this year was 0.94578462. Ciena's asset turnover of last year was 0.75264285.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ciena has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Ciena (HAM:CIE1) has a Piotroski F-Score of 7 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ciena and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Ciena's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Ciena ranks #216 out of 2432 companies in the Hardware industry, placing it in the top 8.9%.
Is Ciena's Piotroski F-Score too high?
Ciena's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Hardware industry median Piotroski F-Score is 5.00. Ciena's value of 7 is 40% above this industry median. Based on the distribution chart, Ciena ranks #216 out of 2432 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Ciena has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ciena's Piotroski F-Score compare to MSI and LITE?
According to the Hardware industry distribution chart, Ciena ranks #216 out of 2432 companies for Piotroski F-Score. This places Ciena in the top 9% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Ciena's value of 7 is 40% above this benchmark. Historically, Ciena's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Ciena has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,432 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ciena's current Piotroski F-Score of 7 is 40% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ciena and its competitors. For the Hardware industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ciena's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ciena stock overvalued right now?
Based on GuruFocus' analysis, Ciena (HAM:CIE1) is currently considered Significantly Overvalued. The stock's GF Value™ is €82.97, compared to a current price of €421.40 — trading 407.9% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Hardware industry median of 5.00. Ciena's overall GF Score™ is 72/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Ciena (HAM:CIE1), the current Piotroski F-Score is 7 as of Jun. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ciena (HAM:CIE1) Overvalued in 2026?
Based on GuruFocus' analysis, Ciena stock appears to be overvalued.
The current stock price of €421.40 is trading 407.9% above its estimated GF Value™ of €82.97.
GuruFocus considers Ciena to be Significantly Overvalued.
Key valuation signals for HAM:CIE1:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: €82.97 vs. price of €421.40 (407.9% above fair value)
Industry Position: 40% above the Hardware median (#216 of 2432)
No single metric tells the full story. See the HAM:CIE1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ciena is a leader in high-speed optical connectivity, providing systems, components, and automation software for telecom providers and enterprises, such as data centers, to enable long-distance connectivity. The company operates through four primary business segments: networking platforms, platform software and services, Blue Planet automation software, and global services. While telecom carriers remain important customers, cloud providers and hyperscalers now drive a significant portion of the business. To meet the demands of AI data centers, customers are adopting Ciena's WaveLogic 6 platform, the first to support 1.6 terabits-per-second capacity.
72GF Score
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