CIEN
CienaPrevious close
320.72
Change
−28.73 / −8.22%
P/E (TTM) ?
75.7
Market Cap
$44.9B
1M
−8.84%
S&P 500 −0.91% over same period
Volume / Avg Volume
3.1M / 2.8M
1.11× average
Latest earnings analysisFY2026 Q3Reported 2026-09-03
Ciena FY26 Q3: revenue $1.67 billion, up 37.0%; non-GAAP EPS $2.11
Ciena's fiscal Q3 2026 was a breakout: revenue rose 37.0% to $1.67 billion and non-GAAP EPS more than tripled to $2.11. The read is Bullish because growth arrived with wider margins, not discounting. Read it in three pieces: the top line, the profit conversion, and the Q4 guide, which is solid but only modestly above the current run rate.
Read the full analysis →Revenue$1.67BYoY +37.00%
EPS (non-GAAP)$2.11
Next-quarter revenue guidance$1.75B ±2.86%Below estimatesest. $1.79B
Next-day move+1.12%
Recent Earnings
Click to read the FinDog analysis| Period | Reported | Revenue | Analysis |
|---|---|---|---|
| FY2026 Q3 Quarter ended 2026-08 | 2026-09-03 | $1.7B | Read analysis → |
| FY2026 Q2 Quarter ended 2026-05 | 2026-06-04 | $1.6B | Pending |
| FY2026 Q1 Quarter ended 2026-01 | 2026-03-05 | $1.4B | Pending |
| FY2025 Q4 Quarter ended 2025-11 | 2025-12-11 | $4.8B | Pending |
| FY2025 Q3 Quarter ended 2025-08 | 2025-09-04 | $1.2B | Pending |
| FY2025 Q2 Quarter ended 2025-05 | 2025-06-05 | $1.1B | Pending |
Decision Panel
Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market dataValuation
P/E is at percentile 40 of its 5-year rangeMid-range
5-year range 29.1 – 347.0 · Median 112.7
Last 4 quarters: $422M in buybacks + $0 in dividends, 0.94% of market cap combined
P/E (TTM)
75.7
P/B
16.2
P/S
8.2
PEG
0.22
Earnings Reaction
Over the last 6 reports, the stock moved ±3.7% on average on the first trading day after, rising 1 times
Most recent +1.12%
Guidance Credibility
Of the last 3 next-quarter revenue guides, 3 were met; actual results averaged 3.4% above guidance
Volatility & Correlation
1-year beta 2.79 · Correlation with S&P 500 0.46High beta
Annualized volatility 77% vs. 13% for the S&P 500
Insider Trading
View all →Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions
Buy 0 · $0.00MSell 22 · $18.0MNet selling $18.0M
- 10-15Rothenstein David MEVP & Chief Strategy OfficerSell$0.87M2,500 shares · Avg price 348.06
- 10-15SMITH GARY BPresident & CEOSell$1.0M2,952 shares · Avg price 348.02
- 10-15DiPerna DinoEVP & Chief R&D OfficerSell$0.31M890 shares · 2 trades · Avg price 347.04
- 10-15Gage BrodieEVP & Chief Product & TechSell$0.41M1,200 shares · Avg price 344.08
- 10-01SMITH GARY BPresident & CEOSell$1.1M2,952 shares · Avg price 369.66
- 10-01Phipps JasonEVP & Chief Customer OfficerSell$0.93M2,629 shares · Avg price 355.19
- 10-01Kosaraju SheelaEVP & Chief Legal OfficerSell$0.75M2,101 shares · Avg price 355.19
- 10-01Graff Marc D.EVP & Chief Financial OfficerSell$0.03M97 shares · Avg price 355.19
Multi-Quarter Financial Trends
View all quarters →Last 12 quarters · As reported by the company
| Quarter | Revenue ($B) | YoY | Gross Margin | Net Income ($B) | EPS |
|---|---|---|---|---|---|
| FY2026 Q3 | 1.67 | +37.0% | 45.4% | 0.27 | 1.83 |
| FY2026 Q2 | 1.57 | +39.5% | 44.0% | 0.22 | 1.49 |
| FY2026 Q1 | 1.43 | +33.1% | 43.8% | 0.15 | 1.03 |
| FY2025 Q4 | 1.35 | +20.3% | 42.7% | 0.02 | 0.13 |
| FY2025 Q3 | 1.22 | +29.4% | 41.3% | 0.05 | 0.35 |
| FY2025 Q2 | 1.13 | +23.6% | 40.2% | 0.01 | 0.06 |
| FY2025 Q1 | 1.07 | +3.3% | 44.0% | 0.04 | 0.31 |
| FY2024 Q4 | 1.12 | −0.5% | 40.9% | 0.04 | 0.26 |
| FY2024 Q3 | 0.94 | −11.8% | 42.9% | 0.01 | 0.10 |
| FY2024 Q2 | 0.91 | −19.6% | 42.7% | -0.02 | -0.12 |
| FY2024 Q1 | 1.04 | −1.8% | 45.0% | 0.05 | 0.34 |
| FY2023 Q4 | 1.13 | +16.3% | 43.1% | 0.09 | 0.62 |
| Ticker | P/E | Revenue YoY | Gross Margin | 1M | View |
|---|---|---|---|---|---|
| CIEN | 75.7 | +37.0% | 45.4% | −8.84% | Bullish |
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| AVGO | 40.4 | +85.5% | 69.1% | −7.15% | Bullish |
| MU | 11.8 | +379.3% | 86.8% | −16.93% | Bullish |
| AMD | 143.0 | +50.1% | 53.8% | −17.48% | Bullish |
| INTC | — | +20.9% | 43.0% | −45.30% | Bullish |
| PLTR | 156.5 | +92.8% | 84.7% | −1.57% | Bullish |