vs
Side-by-side financial comparison of CIENA CORP (CIEN) and Diversified Energy Co (DEC). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $666.5M, roughly 1.8× Diversified Energy Co). Diversified Energy Co runs the higher net margin — 29.3% vs 4.1%, a 25.2% gap on every dollar of revenue. Diversified Energy Co produced more free cash flow last quarter ($280.0M vs $134.6M).
Ciena Corporation is an American optical networking systems and software company based in Hanover, Maryland. The company has been described as a vital player in optical connectivity. The company reported revenues of $4.8 billion and more than 9,000 employees, as of November 2025. Gary Smith serves as president and chief executive officer (CEO).
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan.
CIEN vs DEC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $666.5M |
| Net Profit | $50.3M | $195.5M |
| Gross Margin | 41.3% | — |
| Operating Margin | 6.0% | 37.6% |
| Net Margin | 4.1% | 29.3% |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.35 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $666.5M | ||
| Q3 25 | $1.2B | $499.8M | ||
| Q2 25 | $1.1B | $600.3M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $942.3M | — | ||
| Q2 24 | $910.8M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | — | $195.5M | ||
| Q3 25 | $50.3M | $171.1M | ||
| Q2 25 | $9.0M | $297.7M | ||
| Q1 25 | $44.6M | — | ||
| Q4 24 | $37.0M | — | ||
| Q3 24 | $14.2M | — | ||
| Q2 24 | $-16.8M | — | ||
| Q1 24 | $49.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 40.2% | 44.7% | ||
| Q1 25 | 44.0% | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.9% | — | ||
| Q2 24 | 42.7% | — | ||
| Q1 24 | 45.0% | — |
| Q4 25 | — | 37.6% | ||
| Q3 25 | 6.0% | 36.2% | ||
| Q2 25 | 2.9% | 48.5% | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | -0.4% | — | ||
| Q1 24 | 8.2% | — |
| Q4 25 | — | 29.3% | ||
| Q3 25 | 4.1% | 34.2% | ||
| Q2 25 | 0.8% | 49.6% | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | -1.8% | — | ||
| Q1 24 | 4.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | $0.35 | $2.14 | ||
| Q2 25 | $0.06 | $3.67 | ||
| Q1 25 | $0.31 | — | ||
| Q4 24 | $0.26 | — | ||
| Q3 24 | $0.10 | — | ||
| Q2 24 | $-0.12 | — | ||
| Q1 24 | $0.34 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $29.7M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $2.8B | $984.1M |
| Total Assets | $5.7B | $6.2B |
| Debt / EquityLower = less leverage | — | 2.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $29.7M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | $23.7M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $984.1M | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.8B | $727.7M | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | — | $6.2B | ||
| Q3 25 | $5.7B | — | ||
| Q2 25 | $5.7B | $5.7B | ||
| Q1 25 | $5.6B | — | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.6B | — | ||
| Q2 24 | $5.6B | — | ||
| Q1 24 | $5.6B | — |
| Q4 25 | — | 2.76× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $174.3M | $464.6M |
| Free Cash FlowOCF − Capex | $134.6M | $280.0M |
| FCF MarginFCF / Revenue | 11.0% | 42.0% |
| Capex IntensityCapex / Revenue | 3.3% | 27.7% |
| Cash ConversionOCF / Net Profit | 3.47× | 2.38× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $464.6M | ||
| Q3 25 | $174.3M | — | ||
| Q2 25 | $156.9M | $264.1M | ||
| Q1 25 | $103.7M | — | ||
| Q4 24 | $349.4M | — | ||
| Q3 24 | $-159.4M | — | ||
| Q2 24 | $58.5M | — | ||
| Q1 24 | $266.1M | — |
| Q4 25 | — | $280.0M | ||
| Q3 25 | $134.6M | — | ||
| Q2 25 | $128.2M | — | ||
| Q1 25 | $76.8M | — | ||
| Q4 24 | $265.8M | — | ||
| Q3 24 | $-179.0M | — | ||
| Q2 24 | $41.6M | — | ||
| Q1 24 | $249.5M | — |
| Q4 25 | — | 42.0% | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 23.6% | — | ||
| Q3 24 | -19.0% | — | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 24.0% | — |
| Q4 25 | — | 27.7% | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 1.6% | — |
| Q4 25 | — | 2.38× | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 17.50× | 0.89× | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | -11.20× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.37× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIEN
| Optical Networking | $815.5M | 67% |
| Routing And Switching | $125.9M | 10% |
| Platform Softwareand Services Segment | $90.0M | 7% |
| Maintenance Support And Training | $80.7M | 7% |
| Installation And Deployment | $65.9M | 5% |
| Blue Planet Automation Softwareand Services Segment | $27.8M | 2% |
| Consulting And Network Design | $13.6M | 1% |
DEC
Segment breakdown not available.
