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Ciena CIEN Operating margin

Operating margin at other companies

Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
23.4%+3.1pp
Keysight Technologies logo
Keysight TechnologiesKEYS
18.2%+1.3pp
Celestica logo
CelesticaCLS
8.6%+2.6pp
Credo Technology Group Holding Ltd logo
Credo Technology Group Holding LtdCRDO
33.3%+24.8pp
Astera Labs, Inc. logo
Astera Labs, Inc.ALAB
22.4%+19.2pp
GLW
CorningGLW
15.2%+5.4pp

Other financials

Income statement

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Revenue$1.6B+39.5%
Gross profit$691.6M+52.7%
Operating income$237.9M+624%
Net income$218.2M+2,333%
EPS (diluted)$1.49+2,383%

Balance sheet

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Cash & equivalents$1.0B+10.0%
Total debt$1.6B-0.8%
Total equity$2.9B+4.2%
Total assets$6.0B+6.7%

Cash flow

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Operating cash flow$259.7M+65.5%
CapEx$41.0M+42.8%
Free cash flow$218.7M+70.6%

Valuation

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Market cap$61.82B+716%
Enterprise value$62.35B+668%
P/E141×+68.8×
P/S11.1×+9.3×

Profitability

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Gross margin43%+1.1pp
Net margin7.9%+5.4pp

Returns & leverage

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Return on equity15.5%+11.8pp
Debt / equity0.5×0.0×
Current ratio2.7×-0.7×

Where this comes from

Calculated from Ciena’s reported figures.

Based on trailing twelve months.

The official record: Ciena’s 10-Q, filed June 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ciena's operating margin?
Ciena (CIEN) reported operating margin of 9.2% in Q1 2026.
How has Ciena's operating margin changed year-over-year?
Ciena's operating margin increased by 96.3% year-over-year, from 4.7% to 9.2%.
What is the long-term trend for Ciena's operating margin?
Over 4 years (2021 to 2025), Ciena's operating margin has grown at a -24.2% compound annual growth rate (CAGR), from 55.4% to 18.3%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.