CienaMIL:1CIEN +1.45%53 PB Ratio is 22.06 as of Jul. 07, 2026, which is 633% above its 10-year median of 3.01. GuruFocus rates MIL:1CIEN with a GF Score™ of 53/100 and a GF Value™ of €80.24 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,415 Hardware companies, Ciena ranks worse than 96.15% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-07), Ciena's share price is €385.20. Ciena's Book Value per Share for the quarter that ended in Apr. 2026 was €17.46. Hence, Ciena's PB Ratio of today is 22.06.
The historical rank and industry rank for Ciena's PB Ratio or its related term are showing as below:
MIL:1CIEN'
s PB Ratio Range Over the Past 10 Years
Min: 1.34 Med: 3.01 Max: 28.58
Current: 21.24
During the past 13 years, Ciena's highest PB Ratio was 28.58. The lowest was 1.34. And the median was 3.01.
MIL:1CIEN's PB Ratio is ranked worse than 96.15% of 2415
companies
in the Hardware industry
Industry Median: 2.41
vs MIL:1CIEN: 21.24
During the past 12 months, Ciena's average Book Value Per Share Growth Rate was 4.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 1.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 2.90% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 13.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Ciena was 39.80% per year. The lowest was -76.30% per year. And the median was 2.35% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Ciena PB Ratio Related Terms
Ciena PB Ratio Historical Data
* Premium members only.
The historical data trend for Ciena's PB Ratio 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.
For the Communication Equipment subindustry, Ciena's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Hardware Industry
For the Hardware industry and Technology sector, Ciena's PB Ratio distribution charts can be found below:
* The bar in red indicates where Ciena's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Ciena's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Ciena (MIL:1CIEN) has a PB Ratio of 22.06 as of Jul. 07, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Ciena and its competitors. This is 633% above median its historical median of 3.01. Over the past decade, Ciena's PB Ratio has ranged from 1.34 to 28.58. According to the industry distribution chart, Ciena ranks #2322 out of 2415 companies in the Hardware industry, placing it in the top 96.1%.
Is Ciena's PB Ratio too high?
Ciena's current PB Ratio of 22.06 is 633% above median its 10-year median of 3.01. Over the past 10 years, this metric has ranged from a low of 1.34 to a high of 28.58. The Hardware industry median PB Ratio is 2.41. Ciena's value of 22.06 is 815.4% above this industry median. Based on the distribution chart, Ciena ranks #2322 out of 2415 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Ciena has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ciena's PB Ratio compare to MSI and LITE?
According to the Hardware industry distribution chart, Ciena ranks #2322 out of 2415 companies for PB Ratio. This places Ciena in the lower half of its industry. The industry median PB Ratio is 2.41. Ciena's value of 22.06 is 815.4% above this benchmark. Historically, Ciena's own PB Ratio has ranged from 1.34 to 28.58 over the past decade. While the company's 10-year median is 3.01 vs. the industry median of 2.41, 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 PB Ratio for a Hardware company?
The median PB Ratio among Hardware companies is 2.41, based on 2,415 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ciena's current PB Ratio of 22.06 is 815.4% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Ciena and its competitors. For the Hardware industry, the median PB Ratio is 2.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ciena's current PB Ratio is 22.06, which is 633% above median its own 10-year median of 3.01. 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 (MIL:1CIEN) is currently considered Significantly Overvalued. The stock's GF Value™ is €80.24, compared to a current price of €385.20 — trading 380.1% above its estimated fair value. The current PB Ratio is 22.06, which is 633% above median its 10-year median of 3.01 and 815.4% above the Hardware industry median of 2.41. Ciena's overall GF Score™ is 53/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Ciena (MIL:1CIEN), the current PB Ratio is 22.06 as of Jul. 07, 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 (MIL:1CIEN) Overvalued in 2026?
Based on GuruFocus' analysis, Ciena stock appears to be overvalued.
The current stock price of €385.20 is trading 380.1% above its estimated GF Value™ of €80.24.
GuruFocus considers Ciena to be Significantly Overvalued.
Key valuation signals for MIL:1CIEN:
PB Ratio: 22.06 (633% above median its 10-year median of 3.01)
GF Value™: €80.24 vs. price of €385.20 (380.1% above fair value)
Industry Position: 815.4% above the Hardware median (#2322 of 2415)
No single metric tells the full story. See the MIL:1CIEN 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.
53GF Score
Get the complete analysis for MIL:1CIEN
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MIL:1CIEN has been successfully added to your 
