Last 47 quarters of trend data · Technology · Optical & Photonic Components
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 54.29 | 51.51 | 89.81 | 61.12 | 365.23 | 63.31 | 294.22 | 70.27 | 63.97 | 128.09 | 116.52 | 37.81 | 17.02 | 51.97 | 30.29 | 25.01 | 30.71 | 184.55 | 55.17 | 55.82 | 20.56 |
| — | -18.6% | -69.5% | -13.0% | +470.9% | -50.6% | +152.5% | +85.9% | +275.9% | +146.4% | +284.7% | +51.1% | -44.6% | -71.8% | -45.1% | -55.2% | +49.3% | +1829.9% | +188.6% | +46.4% | -12.3% | |
| P/S Ratio | 5.72 | 8.23 | 12.47 | 6.43 | 5.11 | 2.63 | 2.35 | 2.97 | 2.08 | 1.93 | 1.79 | 1.81 | 1.38 | 1.46 | 1.53 | 1.81 | 1.84 | 2.24 | 2.23 | 2.99 | 2.04 |
| — | +213.6% | +431.6% | +116.9% | +146.0% | +35.7% | +30.9% | +64.1% | +50.3% | +32.5% | +17.4% | +0.1% | -24.9% | -34.7% | -31.5% | -39.5% | -9.9% | -3.0% | -6.1% | +8.2% | +9.7% | |
| P/B Ratio | 12.95 | 18.01 | 27.08 | 13.15 | 10.12 | 4.59 | 3.80 | 4.55 | 3.32 | 2.52 | 2.35 | 2.57 | 2.19 | 2.12 | 2.38 | 2.69 | 2.63 | 2.91 | 3.04 | 3.58 | 2.82 |
| — | +291.9% | +611.9% | +188.8% | +205.3% | +82.2% | +62.2% | +77.5% | +51.3% | +19.2% | -1.3% | -4.6% | -16.8% | -27.3% | -21.8% | -25.0% | -6.5% | -6.6% | +3.4% | +10.9% | +14.6% | |
| P/FCF | 47.92 | 118.31 | 89.55 | 59.69 | 29.99 | 13.92 | 20.59 | 41.38 | 8.78 | — | 40.77 | 7.59 | 9.03 | — | 8.56 | — | — | — | 24.28 | — | 8.77 |
| — | +749.8% | +334.8% | +44.3% | +241.6% | — | -49.5% | +445.3% | -2.8% | — | +376.1% | — | — | — | -64.7% | — | — | — | +138.2% | — | -5.6% | |
| EV / EBITDA | 33.42 | 37.75 | 64.66 | 39.54 | 45.10 | 30.05 | 40.78 | 29.01 | 26.97 | 33.54 | 29.94 | 16.69 | 13.45 | 14.73 | 13.17 | 17.42 | 16.27 | 32.73 | 23.02 | 26.33 | 11.57 |
| — | +25.6% | +58.5% | +36.3% | +67.2% | -10.4% | +36.2% | +73.8% | +100.5% | +127.7% | +127.3% | -4.2% | -17.3% | -55.0% | -42.8% | -33.8% | +40.6% | +176.0% | +105.5% | +41.4% | -0.8% | |
| EV / EBIT | 112.43 | 41.74 | 85.32 | 45.93 | 283.29 | 37.61 | 65.77 | 36.47 | 34.16 | 48.19 | 43.73 | 20.58 | 18.18 | 19.03 | 16.53 | 17.50 | 23.16 | 73.16 | 36.16 | 39.65 | 14.37 |
| — | +11.0% | +29.7% | +26.0% | +729.4% | -21.9% | +50.4% | +77.2% | +87.9% | +153.2% | +164.5% | +17.6% | -21.5% | -74.0% | -54.3% | -55.9% | +61.2% | +406.2% | +156.4% | +46.4% | -9.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.0% | 45.4% | 44.0% | 43.8% | 42.7% | 41.3% | 40.2% | 44.0% | 40.9% | 42.9% | 42.9% | 45.0% | 43.1% | 42.0% | 43.1% | 43.2% | 44.7% | 39.3% | 42.3% | 45.5% | 45.8% |
| — | +10.1% | +9.5% | -0.4% | +4.3% | -3.8% | -6.2% | -2.2% | -4.9% | +2.0% | -0.4% | +4.3% | -3.6% | +7.1% | +1.7% | -5.1% | -2.5% | -18.2% | -14.4% | -3.8% | -6.1% | |
| Operating Margin | 6.5% | 18.0% | 15.1% | 13.4% | 8.8% | 6.2% | 3.1% | 7.7% | 5.3% | 2.8% | 2.8% | 8.2% | 8.1% | 7.3% | 9.1% | 8.1% | 8.0% | 3.1% | 6.2% | 7.1% | 13.2% |
| — | +191.8% | +390.1% | +74.8% | +66.4% | +117.6% | +8.9% | -6.0% | -34.8% | -61.3% | -68.7% | +1.1% | +1.6% | +134.5% | +47.5% | +13.5% | -39.7% | -79.2% | -61.6% | -29.0% | +16.9% | |
| Net Margin | 2.6% | 15.9% | 13.9% | 10.5% | 1.4% | 4.1% | 0.8% | 4.2% | 3.3% | 1.5% | 1.5% | 4.8% | 8.1% | 2.8% | 5.1% | 7.2% | 5.9% | 1.2% | 4.1% | 5.4% | 9.9% |
| — | +286.4% | +1644.0% | +153.3% | -56.2% | +173.2% | -47.2% | -12.9% | -59.2% | -45.8% | -70.3% | -33.8% | +36.0% | +129.9% | +24.1% | +33.0% | -40.3% | -95.0% | -66.8% | -25.8% | +26.6% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.4% | 9.0% | 7.7% | 5.4% | 0.7% | 1.8% | 0.3% | 1.6% | 1.3% | 0.5% | 0.5% | 1.7% | 3.1% | 1.0% | 2.0% | 2.7% | 2.1% | 0.4% | 1.4% | 1.6% | 3.5% |
| — | +395.3% | +2283.6% | +242.5% | -45.5% | +266.7% | -34.3% | -7.4% | -58.8% | -51.4% | -75.6% | -37.5% | +46.9% | +163.2% | +44.3% | +74.9% | -38.5% | -95.5% | -64.4% | -27.7% | +32.2% | |
| ROA | 2.1% | 3.8% | 3.7% | 2.6% | 0.3% | 0.9% | 0.2% | 0.8% | 0.7% | 0.3% | 0.3% | 0.9% | 1.6% | 0.5% | 1.0% | 1.4% | 1.2% | 0.2% | 0.8% | 0.9% | 2.2% |
| — | +330.4% | +2190.4% | +221.6% | -49.2% | +246.8% | -37.1% | -10.2% | -59.0% | -50.8% | -74.8% | -37.6% | +39.3% | +142.7% | +27.6% | +51.3% | -46.8% | -96.0% | -67.2% | -29.1% | +37.7% | |
| ROIC | 6.9% | 10.6% | 5.3% | 4.4% | 2.7% | 1.7% | 0.8% | 1.8% | 1.2% | 0.6% | 0.6% | 1.9% | 2.0% | 1.7% | 2.3% | 2.0% | 2.0% | 0.7% | 1.5% | 1.7% | 4.3% |
| — | +529.8% | +606.9% | +151.8% | +117.9% | +192.5% | +25.3% | -6.3% | -36.8% | -66.8% | -73.5% | -7.2% | -0.3% | +147.6% | +48.6% | +17.5% | -53.4% | -85.3% | -65.1% | -30.9% | +31.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.58 | 0.08 | 0.55 | 0.57 | 0.58 | 0.57 | 0.57 | 0.57 | 0.58 | 0.55 | 0.56 | 0.55 | 0.58 | 0.55 | 0.56 | 0.57 | 0.44 | 0.43 | 0.41 | 0.40 | 0.27 |
| — | -86.4% | -4.5% | +0.7% | +0.0% | +3.1% | +2.9% | +2.7% | -0.4% | +1.1% | -0.2% | -4.1% | +33.0% | +28.4% | +37.3% | +42.8% | +64.3% | +66.2% | +45.0% | +36.9% | -19.4% | |
| Debt / EBITDA | 3.51 | 0.68 | 5.18 | 6.76 | 10.15 | 14.30 | 23.14 | 13.65 | 17.55 | 26.76 | 26.40 | 13.69 | 12.95 | 14.10 | 11.59 | 13.82 | 10.53 | 18.49 | 12.13 | 11.79 | 4.72 |
| — | -95.3% | -77.6% | -50.5% | -42.2% | -46.5% | -12.3% | -0.3% | +35.5% | +89.7% | +127.8% | -0.9% | +23.0% | -23.7% | -4.5% | +17.3% | +123.3% | +349.2% | +168.3% | +68.8% | -27.9% | |
| Current Ratio | 2.73 | 3.80 | 2.73 | 2.81 | 2.73 | 3.28 | 3.40 | 3.65 | 3.52 | 4.04 | 3.86 | 4.26 | 3.81 | 3.92 | 3.66 | 3.70 | 3.25 | 3.48 | 3.72 | 4.16 | 3.48 |
| — | +15.7% | -19.9% | -22.9% | -22.7% | -18.8% | -11.8% | -14.4% | -7.5% | +3.1% | +5.6% | +15.3% | +17.1% | +12.6% | -1.6% | -11.2% | -6.6% | -3.5% | +4.1% | +10.2% | +2.0% | |
| Quick Ratio | 2.09 | 3.17 | 2.11 | 2.14 | 2.09 | 2.52 | 2.57 | 2.77 | 2.70 | 2.97 | 2.74 | 3.09 | 2.68 | 2.69 | 2.62 | 2.54 | 2.34 | 2.58 | 3.10 | 3.56 | 3.07 |
| — | +26.0% | -17.9% | -22.6% | -22.6% | -15.2% | -6.2% | -10.5% | +0.8% | +10.4% | +4.6% | +21.8% | +14.5% | +4.1% | -15.5% | -28.7% | -23.7% | -18.4% | +1.3% | +11.0% | +3.6% | |
| Interest Coverage | 2.70 | 54.53 | 11.04 | 9.52 | 1.13 | 3.88 | 1.81 | 3.93 | 2.89 | 1.65 | 1.65 | 4.01 | 3.91 | 3.67 | 4.66 | 7.38 | 5.75 | 2.17 | 4.94 | 7.36 | 17.34 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying CIEN stock.
Ciena Corporation's current P/E is 54.3x. The average P/E over the last 4 quarters is 141.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ciena Corporation's current operating margin is 6.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Ciena Corporation's business trajectory between earnings reports.