olivLaw · US equity research
Ciena Corporation CIEN
Telephone & Telegraph Apparatus · SIC 3661 · Vertical: Telephone & Telegraph Apparatus (SIC 3661)
Ciena Corporation is a network technology company that supplies optical equipment, software and services to network operators, especially cloud providers. In fiscal 2025 revenue rose 19% to 4.8 billion USD, and in the third quarter of fiscal 2026 it rose 37% to 1.67 billion USD. Guidance for fiscal 2026 points to 6.42 billion USD.
At the close of 04 Nov 2026, Ciena Corporation (CIEN) stock was 272.24 USD (−9.28% on the day), with market capitalisation 38.6 bn USD, P/E 60.7 on diluted EPS of 4.48 USD over the last 12 months, beta 2.17, 52-week range 176.45–627.00 USD. Latest reported quarter (Q3 2026): revenue of 1.7 bn USD (+37.0% YoY), net income of 266.4 m USD (+429.6% YoY), diluted EPS 1.83 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 35.1
- weak (30–45)
- Bollinger (20, 2)
- 263.09 – 436.66
- in the lower half of the band · %B 0.05 · band width 49.6%
- SMA 50 / 200
- 357.47 / 405.62
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -20.46 / -12.48
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −30.1% | −1.1% | −29.0 pp | — |
| 3 months | −33.4% | −0.5% | −33.0 pp | — |
| 6 months | −52.8% | +4.4% | −57.2 pp | — |
| Year to date | +16.4% | +12.3% | +4.1 pp | — |
| 1 year | +48.9% | +13.5% | +35.3 pp | −25.6% |
| 3 years | +520.1% | +76.4% | +443.7 pp | −26.6% |
| 5 years | +350.0% | +63.7% | +286.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 01 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.1 bn | 1.1 bn | 1.2 bn | 1.4 bn | 1.4 bn | 1.6 bn | 1.7 bn |
| Cost of revenue | 664.1 m | 600.4 m | 673.0 m | 716.3 m | 774.8 m | 801.5 m | 879.2 m | 911.9 m |
| Gross profit | 460.0 m | 471.8 m | 452.8 m | 503.1 m | 577.2 m | 625.5 m | 691.6 m | 759.3 m |
| Research & development | 196.0 m | 192.7 m | 214.9 m | 211.9 m | 228.9 m | 221.5 m | 237.9 m | 236.7 m |
| Operating income | 59.2 m | 80.7 m | 32.8 m | 73.5 m | 10.5 m | 189.4 m | 237.9 m | 301.2 m |
| Interest expense | 25.0 m | 22.9 m | 21.7 m | 22.8 m | 22.0 m | 21.3 m | 20.9 m | 5.8 m |
| Pre-tax income | 48.0 m | 68.6 m | 19.0 m | 65.8 m | 2.9 m | 181.1 m | 231.1 m | 310.6 m |
| Income tax | 11.0 m | 24.0 m | 10.0 m | 15.5 m | -16.6 m | 30.8 m | 12.8 m | 44.2 m |
| Net income | 37.0 m | 44.6 m | 9.0 m | 50.3 m | 19.5 m | 150.3 m | 218.2 m | 266.4 m |
| Diluted EPS | 0.25 ≈ | 0.31 | 0.06 | 0.35 | 0.13 ≈ | 1.03 | 1.49 | 1.83 |
| Operating cash flow | 349.4 m | 103.7 m | 156.9 m ≈ | 174.3 m ≈ | 371.1 m | 227.6 m | 259.7 m ≈ | 196.3 m ≈ |
| Capex | 83.5 m | 26.9 m | 28.7 m ≈ | 39.8 m ≈ | 45.4 m | 73.9 m | 41.0 m ≈ | 80.0 m ≈ |
| Share repurchases | 128.7 m | 81.2 m | 87.0 m ≈ | 81.8 m ≈ | 84.5 m | 80.5 m | 84.4 m ≈ | 173.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 74 percentile of its own 42-quarter history (min 3.1, median 32.9, max 222.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.1 bn | 3.6 bn | 3.5 bn | 3.6 bn | 3.6 bn | 4.4 bn | 4.0 bn | 4.8 bn |
| Revenue YoY | +10.4% | +15.4% | −1.1% | +2.5% | +0.3% | +20.8% | −8.5% | +18.8% |
| Net income | -344.7 m | 253.4 m | 361.3 m | 500.2 m | 152.9 m | 254.8 m | 84.0 m | 123.3 m |
| Net income YoY | −127.3% | unavailable | +42.6% | +38.4% | −69.4% | +66.7% | −67.1% | +46.9% |
| Diluted EPS | -2.49 | 1.61 | 2.32 | 3.19 | 1.00 | 1.71 | 0.58 | 0.85 |
| Diluted EPS YoY | −133.1% | unavailable | +44.1% | +37.5% | −68.7% | +71.0% | −66.1% | +46.6% |
| net % | -11.1% | 7.1% | 10.2% | 13.8% | 4.2% | 5.8% | 2.1% | 2.6% |
| Free cash flow | 161.6 m | 350.6 m | 411.0 m | 462.1 m | -258.6 m | 62.1 m | 377.9 m | 665.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 01 Nov 2025
- Cash
- 1.1 bn USD
- Financial debt
- 1.5 bn USD
- Net debt
- 443.8 m USD
- Equity
- 2.7 bn USD
- Total assets
- 5.9 bn USD
- Debt / equity
- 0.56x
- Current ratio
- 2.73x
- ROE
- 4.4%
- ROA
- 2.1%
- FCF margin
- 13.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.5 bn | 3.6 bn | 3.6 bn | 4.4 bn | 4.0 bn | 4.8 bn | SEC (XBRL)· 12 Dec 2025verified |
| Cost of revenue | 1.9 bn | 1.9 bn | 2.1 bn | 2.5 bn | 2.3 bn | 2.8 bn | SEC (XBRL)· 12 Dec 2025verified |
| Gross profit | 1.7 bn | 1.7 bn | 1.6 bn | 1.9 bn | 1.7 bn | 2.0 bn | SEC (XBRL)· 12 Dec 2025verified |
| Research & development | 529.9 m | 536.7 m | 624.7 m | 750.6 m | 767.5 m | 848.3 m | SEC (XBRL)· 12 Dec 2025verified |
| Operating income | 487.0 m | 495.4 m | 222.8 m | 357.5 m | 166.6 m | 197.5 m | SEC (XBRL)· 12 Dec 2025verified |
| Interest expense | 31.3 m | 30.8 m | 47.1 m | 88.0 m | 97.0 m | 89.4 m | SEC (XBRL)· 12 Dec 2025verified |
| Pre-tax income | 456.0 m | 462.8 m | 182.5 m | 323.7 m | 119.9 m | 156.3 m | SEC (XBRL)· 12 Dec 2025verified |
| Income tax | 94.7 m | -37.4 m | 29.6 m | 68.8 m | 35.9 m | 32.9 m | SEC (XBRL)· 12 Dec 2025verified |
| Net income | 361.3 m | 500.2 m | 152.9 m | 254.8 m | 84.0 m | 123.3 m | SEC (XBRL)· 12 Dec 2025verified |
| Diluted EPS | 2.32 | 3.19 | 1.00 | 1.71 | 0.58 | 0.85 | SEC (XBRL)· 12 Dec 2025verified |
| Weighted average diluted shares | 156.0 m | 156.7 m | 152.2 m | 149.4 m | 146.0 m | 145.2 m | SEC (XBRL)· 12 Dec 2025verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.1 bn | 1.4 bn | 994.4 m | 1.0 bn | 934.9 m | 1.1 bn | SEC (XBRL)· 12 Dec 2025verified |
| Receivables | 719.4 m | 885.0 m | 920.8 m | 1.0 bn | 908.6 m | 975.9 m | SEC (XBRL)· 12 Dec 2025verified |
| Inventories | 344.4 m | 374.3 m | 946.7 m | 1.1 bn | 820.4 m | 826.2 m | SEC (XBRL)· 12 Dec 2025verified |
| Current assets | 2.6 bn | 3.2 bn | 3.4 bn | 3.6 bn | 3.5 bn | 3.6 bn | SEC (XBRL)· 12 Dec 2025verified |
| Property, plant & equipment, net | — | — | — | — | — | 386.8 m | SEC (XBRL)· 03 Sept 2026verified |
| Goodwill | 310.8 m | 311.6 m | 328.3 m | 444.8 m | 444.7 m | 521.2 m | SEC (XBRL)· 12 Dec 2025verified |
| Intangibles (excl. goodwill) | 96.6 m | 65.3 m | 69.5 m | 205.6 m | 165.0 m | 224.2 m | SEC (XBRL)· 12 Dec 2025verified |
| Total assets | 4.2 bn | 4.9 bn | 5.1 bn | 5.6 bn | 5.6 bn | 5.9 bn | SEC (XBRL)· 12 Dec 2025verified |
| Accounts payable | 291.9 m | 356.2 m | 516.0 m | 317.8 m | 423.4 m | 542.8 m | SEC (XBRL)· 12 Dec 2025verified |
| Short-term debt | 6.9 m | 6.9 m | 6.9 m | 11.7 m | 11.7 m | 11.6 m | SEC (XBRL)· 12 Dec 2025verified |
| Long-term debt | 676.4 m | 670.4 m | 1.1 bn | 1.5 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 12 Dec 2025verified |
| Current liabilities | 760.7 m | 909.0 m | 1.0 bn | 932.0 m | 999.8 m | 1.3 bn | SEC (XBRL)· 12 Dec 2025verified |
| Total liabilities | 1.7 bn | 1.8 bn | 2.4 bn | 2.8 bn | 2.8 bn | 3.1 bn | SEC (XBRL)· 12 Dec 2025verified |
| Equity | 2.5 bn † | 3.0 bn † | 2.7 bn † | 2.8 bn † | 2.8 bn † | 2.7 bn † | SEC (XBRL)· 12 Dec 2025verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 493.7 m | 541.6 m | -167.8 m | 168.3 m | 514.5 m | 806.1 m | SEC (XBRL)· 12 Dec 2025verified |
| Capex | 82.7 m | 79.6 m | 90.8 m | 106.2 m | 136.6 m | 140.8 m | SEC (XBRL)· 12 Dec 2025verified |
| Free cash flow | 411.0 m ≈ | 462.1 m ≈ | -258.6 m ≈ | 62.1 m ≈ | 377.9 m ≈ | 665.3 m ≈ | SEC (XBRL)· 12 Dec 2025derived |
| Investing cash flow | -220.2 m | -90.7 m | -101.2 m | -383.5 m | -306.5 m | -241.5 m | SEC (XBRL)· 12 Dec 2025verified |
| Financing cash flow | -87.2 m | -116.8 m | -133.1 m | 229.4 m | -285.1 m | -405.9 m | SEC (XBRL)· 12 Dec 2025verified |
| Share repurchases | 74.5 m | 91.3 m | 500.8 m | 242.2 m | 254.5 m | 334.5 m | SEC (XBRL)· 12 Dec 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 38.6 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet100
- Valuation49
- Quality51
- Growth48
- Returns52
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 88.59 – 140.65 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)88.59 – 140.65 (Mid 108.65)WACC 9.0% · starting FCFF 877.5 m USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/Salesunavailable · not enough peers
- Peers: EV/EBITDAunavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 44.1% | 10 (on a fixed band) | 11% |
| EBIT margin · Quality | 12.3% | 100 (vs peers) | 9% |
| FCF margin · Quality | 13.5% | 54 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 9.5% | 38 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | 18.8% | 67 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.8x | 100 (on a fixed band) | 7% |
| EV/Sales · Valuation | 6.5x | 55 (on a fixed band) | 18% |
| FCF yield · Valuation | 2.1% | 42 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 1.1% | 52 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth48/100 · 2/2 factors with a value
- Quality51/100 · 3/3 factors with a value
- Returns52/100 · 1/1 factors with a value
- Valuation49/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Ciena Corp (CIEN). Latest full fiscal year: 2025; data up to 2026-08-01.
Figures computed from the financial statements: revenue 4.8 bn USD in 2025; YoY growth 18.8%; net margin 10.9%; ROE 22.4%.
The estimated value range is 88.59–140.65 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 108.65 USD, the price of 272.24 USD leaves a potential of -60.1% (value / price − 1) and a margin of safety of -150.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EBIT margin: 12.3%
- Current ratio: 3.8x
What contradicts it
- Gross margin: 44.1%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA.
Versus the vertical median
Telephone & Telegraph Apparatus (SIC 3661) · same industry (4-digit SIC) · compared with 7 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CIENCiena Corp | 38.6 bn | 60.7 | 22.4% | 10.9% | +18.8% | +49% / +520% |
| FNFabrinet | 12.2 bn | 25.8 | 21.0% | 9.4% | +35.7% | −26% / +111% |
| CLFDClearfield, Inc. | 446.6 m | — | -2.8% | -4.7% | +19.6% | +12% / +29% |
| ADTNADTRAN Holdings, Inc. | 385.4 m | — | -17.4% | -2.3% | +17.5% | −40% / −10% |
| AUDCAudiocodes Ltd. | 219.2 m | 26.1 | 4.9% | 3.6% | +1.4% | −10% / −29% |
| FKWLFranklin Wireless Corp. | 25.0 m | — | -14.9% | -13.0% | −20.8% | −52% / −27% |
| CLROClearone Inc | 13.4 m | — | -275.7% | — | unavailable | −5% / −59% |
| SONMDNA X, Inc. | 3.8 m | — | — | -14.5% | −37.7% | −55% / −98% |
1- and 3-year price returns: for CIEN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 173.94 Total return -36% · Per year -36% | 306.80 Total return 13% · Per year 13% | 461.16 Total return 69% · Per year 69% |
| 3 years | 186.20 Total return -32% · Per year -12% | 367.87 Total return 35% · Per year 11% | 604.60 Total return 122% · Per year 30% |
| 5 years | 199.33 Total return -27% · Per year -6% | 441.08 Total return 62% · Per year 10% | 792.66 Total return 191% · Per year 24% |
- Exit P/E± 91.97
- Net margin± 64.38
- Annual revenue growth± 50.43
- Annual dilution± 5.41
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Ciena Corporation is a network technology company that supplies optical equipment, software and services to network operators, especially cloud providers. In fiscal 2025 revenue rose 19% to 4.8 billion USD 1, and in the third quarter of fiscal 2026 it rose 37% to 1.67 billion USD 3. Guidance for fiscal 2026 points to 6.42 billion USD 3.
SWOT
Strengths
- Ciena holds a leading position in optical networking and states that it is the only pure-play provider of optical systems and interconnects 13. Its research investment is substantial 1.
- The company has grown revenue and orders steadily, with gross margin rising in the latest quarter 23.
- The balance sheet was strengthened through a convertible note offering and repayment of the term loan, and operating cash flow increased 2.
Weaknesses
- Dependence on a small number of customers, particularly cloud providers, makes revenue sensitive to changes in their spending 13.
- The supply chain relies on third-party manufacturers and constrained capacity, which can delay deliveries 1.
- Some lines, such as Blue Planet, saw revenue declines in the third quarter of fiscal 2026 2.
Opportunities
- Demand tied to AI and data center interconnection could open new markets for Ciena's products 1.
- Expansion into metro and edge networks by combining IP routing with optical technology could increase the addressable market 1.
- A higher share of software and services could improve margins if the strategy succeeds 1.
Risks
- Customer concentrationhigh
The largest customers generate a major share of revenue, and losing an important customer could have serious effects 13.
- Supply chain riskhigh
Delays or capacity limits at suppliers and third-party manufacturers can affect deliveries and revenue recognition 12.
- Competitive pressuremedium
Larger competitors and new entrants could pressure prices and reduce market share 1.
- Technology and development riskmedium
Investments in new technologies may not pay off if markets develop differently from expectations 1.
- Trade and currency policylow
Tariffs, regulatory changes and currency fluctuations can affect costs and results 23.
Investment thesis
What would need to be true (bull case)
- If demand tied to artificial intelligence continues, growth in revenue and orders could support near-term performance 13.
- Improving gross margin together with controlled operating expenses could raise profitability 23.
- Leadership in optical networking and expansion into data centers could open new revenue sources 1.
What would break the thesis
What to watch
- Delivery against fourth-quarter fiscal 2026 revenue guidanceQ4 2026
- Trend in gross margin and operating expense against guidanceQ4 2026
- Status of production capacity and inventory relative to demand2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Ciena describes itself as a network technology company offering hardware, software and services that increase network capacity, service delivery and automation 1. Its Networking Platforms portfolio includes optical solutions built on WaveLogic technology and routing and switching products, from the network core to the access point 1. The company also supplies Platform Software, Blue Planet Automation Software and a broad range of global services 1.
Main customers are cloud providers, meaning internet content and service providers, and communications service providers including regional, national and international carriers, submarine operators and access providers 1. The company sells directly and through indirect channels, and sales are highly concentrated 1.
Among recent deals, Ciena acquired Nubis Communications in the fourth quarter of fiscal 2025 to extend its interconnect portfolio for AI networks and data centers 1. The strategy aims to lead in optical networking and expand toward data centers and metro and edge networks 1.
Market context
Bandwidth demand is rising because of AI-driven traffic, network densification, cloud services and video streaming 1. The company describes its markets as dynamic and fast-changing 1. Third-quarter fiscal 2026 revenue was 1.67 billion USD, and guidance for the fourth quarter points to 1.75 billion USD 3.
Supply chain capacity limits and long lead times shape the pace of growth 12. The company has entered multi-year supply agreements to secure the capacity it needs 2.
Trends
- AI infrastructure investmenttailwind
Training AI models requires very fast, energy-efficient links, and inference moves demand toward networks close to users 1. If this trend continues, demand for Ciena's solutions could stay high 1. If investment slows, demand could fall 1.
- Customer concentrationheadwind
A small number of cloud and service provider customers account for a large share of sales 13. If one major customer reduces spending, results could be significantly affected 1.
- Supply chain pressuremixed
Constrained capacity and long-term purchase commitments can help deliveries but raise the risk of excess inventory if demand falls 12.
- Margin improvementtailwind
Gross margin rose in the third quarter of fiscal 2026 compared with a year earlier, helped by cost reduction and pricing optimization 23. If this continues, profitability could improve 3.
Competitive position
Ciena faces larger competitors with greater resources and longer customer relationships, especially for the largest operators' network purchases 1. Competition is based on price, features, existing relationships and the ability to offer preferred consumption models 1.
As the company expands into adjacent markets, it expects to compete with a wider range of suppliers, including existing partners in its own supply chain 1. The sources do not name specific competitors.
- Larger network equipment vendors
Rivals with greater resources and broader portfolios that may appear better suited to large operators 1.
- Smaller specialist vendors
Smaller companies that compete on specific products, applications or geographic markets 1.
- Supply chain partners
Existing suppliers that could become competitors as Ciena extends into adjacent markets 1.
- Integrated solution providers
Vendors offering integrated hardware, software and services that compete with disaggregated models 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report03 Sept 2026
- Current report03 Sept 2026Results of operations · Financial statements and exhibits
- Current report11 Jun 2026Material agreement · Creation of a direct financial obligation · Item 3.02 · Other events · Financial statements and exhibits
- Current report08 Jun 2026Other events · Financial statements and exhibits
- Quarterly report04 Jun 2026
- Current report04 Jun 2026Results of operations · Financial statements and exhibits
- Current report31 Mar 2026Shareholder vote
- Quarterly report05 Mar 2026
- Current report05 Mar 2026Results of operations · Financial statements and exhibits
- Proxy statement12 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-11-01 · SEC / Ciena Corporation · 12 Dec 2025
- [2] Form 10-Q, quarter ended 2026-08-01 · SEC / Ciena Corporation · 03 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Ciena Corporation · 03 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.