CienaMEX:CIEN 68 Beneish M-Score is -2.66 as of Jul. 08, 2026. GuruFocus rates MEX:CIEN with a GF Score™ of 68/100 and a GF Value™ of MXN1,622.93 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,405 Hardware companies, Ciena ranks better than 66.07% on this metric.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.66 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ciena's Beneish M-Score or its related term are showing as below:
MEX:CIEN'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.02 Med: -2.55 Max: -0.57
Current: -2.66
During the past 13 years, the highest Beneish M-Score of Ciena was -0.57. The lowest was -3.02. And the median was -2.55.
Ciena Beneish M-Score Related Terms
Ciena Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Ciena's Beneish M-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.
MEX:CIEN vs MSI, LITE, HPE: Beneish M-Score Comparison
For the Communication Equipment subindustry, Ciena's Beneish M-Score, along with its competitors' market caps and Beneish M-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 Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Ciena's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ciena's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Ciena for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.8501
+
0.528 * 0.9754
+
0.404 * 1.0912
+
0.892 * 1.1905
+
0.115 * 1.0075
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8602
+
4.679 * -0.083577
-
0.327 * 1.0265
=
-2.80
* 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.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(2643.162 / (2643.162 + 7601.542))
/
(2915.388 / (2915.388 + 8469.753))
=
0.258003
/
0.25607
=
1.0075
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(7736.76 - -2079.667
-
18657.828)
/
105787.593
=
-0.083577
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Ciena has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.
Ciena (MEX:CIEN) has a Beneish M-Score of -2.66 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ciena and its competitors. According to the industry distribution chart, Ciena ranks #816 out of 2405 companies in the Hardware industry, placing it in the top 33.9%.
Is Ciena's Beneish M-Score too high?
Ciena's current Beneish M-Score is -2.66. Based on the distribution chart, Ciena ranks #816 out of 2405 companies in the Hardware industry, which is above the industry midpoint. Overall, Ciena has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ciena's Beneish M-Score compare to MSI and LITE?
According to the Hardware industry distribution chart, Ciena ranks #816 out of 2405 companies for Beneish M-Score. This puts Ciena in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Hardware company?
A good Beneish M-Score depends on the Hardware industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ciena and its competitors. Ciena's current Beneish M-Score is -2.66. 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 (MEX:CIEN) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN1,622.93, compared to a current price of MXN7,586.00 — trading 367.4% above its estimated fair value. The current Beneish M-Score is -2.66. Ciena's overall GF Score™ is 68/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Ciena (MEX:CIEN), the current Beneish M-Score is -2.66 as of Jul. 08, 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 (MEX:CIEN) Overvalued in 2026?
Based on GuruFocus' analysis, Ciena stock appears to be overvalued.
The current stock price of MXN7,586.00 is trading 367.4% above its estimated GF Value™ of MXN1,622.93.
GuruFocus considers Ciena to be Significantly Overvalued.
Key valuation signals for MEX:CIEN:
Beneish M-Score: -2.66
GF Value™: MXN1,622.93 vs. price of MXN7,586.00 (367.4% above fair value)
No single metric tells the full story. See the MEX:CIEN 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.
68GF Score
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