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CienaMEX:CIEN -8.78%68 Net-Net Working Capital is MXN-92.87 as of Apr. 2026. GuruFocus rates MEX:CIEN with a GF Score™ of 68/100 and a GF Value™ of MXN1,640.12 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,213 Hardware companies, Ciena ranks worse than 82440.15% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Ciena's Net-Net Working Capital for the quarter that ended in Apr. 2026 was MXN-92.87.
The industry rank for Ciena's Net-Net Working Capital or its related term are showing as below:
MEX:CIEN's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 8.44 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Ciena (MEX:CIEN) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Ciena Net-Net Working Capital Related Terms
Ciena Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Ciena's Net-Net Working Capital 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 LITE, HPE, MSI: Net-Net Working Capital Comparison
For the Communication Equipment subindustry, Ciena's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Ciena's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ciena's Price-to-Net-Net-Working-Capital 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of MXN-92.87 mean?
Ciena (MEX:CIEN) has a Net-Net Working Capital of MXN-92.87 as of Apr. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Ciena According to the industry distribution chart, Ciena ranks #999999 out of 1213 companies in the Hardware industry.
Is Ciena's Net-Net Working Capital too high?
Ciena's current Net-Net Working Capital is MXN-92.87. Based on the distribution chart, Ciena ranks #999999 out of 1213 companies in the Hardware industry, which is in the bottom quartile relative to peers. 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 Net-Net Working Capital compare to LITE and HPE?
According to the Hardware industry distribution chart, Ciena ranks #999999 out of 1213 companies for Net-Net Working Capital. This places Ciena in the lower half of its industry. The industry median Net-Net Working Capital is 8.44. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Hardware company?
The median Net-Net Working Capital among Hardware companies is 8.44, based on 1,213 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital 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 Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Ciena For the Hardware industry, the median Net-Net Working Capital is 8.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ciena's current Net-Net Working Capital is MXN-92.87. 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 MXN1,640.12, compared to a current price of MXN5,975.00 — trading 264.3% above its estimated fair value. The current Net-Net Working Capital is MXN-92.87. 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 Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Ciena (MEX:CIEN), the current Net-Net Working Capital is MXN-92.87 as of Apr. 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 MXN5,975.00 is trading 264.3% above its estimated GF Value™ of MXN1,640.12.
GuruFocus considers Ciena to be Significantly Overvalued.
Key valuation signals for MEX:CIEN:
Net-Net Working Capital: MXN-92.87
GF Value™: MXN1,640.12 vs. price of MXN5,975.00 (264.3% 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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