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Side-by-side financial comparison of CIENA CORP (CIEN) and EnerSys (ENS). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $919.1M, roughly 1.3× EnerSys). EnerSys runs the higher net margin — 9.8% vs 4.1%, a 5.7% gap on every dollar of revenue. EnerSys produced more free cash flow last quarter ($171.3M vs $134.6M). Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% CAGR vs 0.5%).
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).
EnerSys is a stored energy systems and technology provider for industrial applications. The company manufactures reserve-power and motive-power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosures.
CIEN vs ENS — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $919.1M |
| Net Profit | $50.3M | $90.4M |
| Gross Margin | 41.3% | 30.1% |
| Operating Margin | 6.0% | 13.5% |
| Net Margin | 4.1% | 9.8% |
| Revenue YoY | — | 1.4% |
| Net Profit YoY | — | -21.3% |
| EPS (diluted) | $0.35 | $2.40 |
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 | — | $919.1M | ||
| Q3 25 | $1.2B | $951.3M | ||
| Q2 25 | $1.1B | $893.0M | ||
| Q1 25 | $1.1B | $974.8M | ||
| Q4 24 | $1.1B | $906.2M | ||
| Q3 24 | $942.3M | $883.7M | ||
| Q2 24 | $910.8M | $852.9M | ||
| Q1 24 | $1.0B | $910.7M |
| Q4 25 | — | $90.4M | ||
| Q3 25 | $50.3M | $68.4M | ||
| Q2 25 | $9.0M | $57.5M | ||
| Q1 25 | $44.6M | $96.5M | ||
| Q4 24 | $37.0M | $114.8M | ||
| Q3 24 | $14.2M | $82.3M | ||
| Q2 24 | $-16.8M | $70.1M | ||
| Q1 24 | $49.5M | $60.9M |
| Q4 25 | — | 30.1% | ||
| Q3 25 | 41.3% | 29.1% | ||
| Q2 25 | 40.2% | 28.4% | ||
| Q1 25 | 44.0% | 31.2% | ||
| Q4 24 | 40.9% | 32.9% | ||
| Q3 24 | 42.9% | 28.5% | ||
| Q2 24 | 42.7% | 27.9% | ||
| Q1 24 | 45.0% | 27.9% |
| Q4 25 | — | 13.5% | ||
| Q3 25 | 6.0% | 9.7% | ||
| Q2 25 | 2.9% | 9.7% | ||
| Q1 25 | 7.5% | 13.5% | ||
| Q4 24 | 5.3% | 15.7% | ||
| Q3 24 | 2.8% | 11.2% | ||
| Q2 24 | -0.4% | 10.7% | ||
| Q1 24 | 8.2% | 8.9% |
| Q4 25 | — | 9.8% | ||
| Q3 25 | 4.1% | 7.2% | ||
| Q2 25 | 0.8% | 6.4% | ||
| Q1 25 | 4.2% | 9.9% | ||
| Q4 24 | 3.3% | 12.7% | ||
| Q3 24 | 1.5% | 9.3% | ||
| Q2 24 | -1.8% | 8.2% | ||
| Q1 24 | 4.8% | 6.7% |
| Q4 25 | — | $2.40 | ||
| Q3 25 | $0.35 | $1.80 | ||
| Q2 25 | $0.06 | $1.46 | ||
| Q1 25 | $0.31 | $2.39 | ||
| Q4 24 | $0.26 | $2.88 | ||
| Q3 24 | $0.10 | $2.01 | ||
| Q2 24 | $-0.12 | $1.71 | ||
| Q1 24 | $0.34 | $1.48 |
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 | $450.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8B | $1.9B |
| Total Assets | $5.7B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $450.1M | ||
| Q3 25 | $1.3B | $388.6M | ||
| Q2 25 | $1.3B | $346.7M | ||
| Q1 25 | $1.2B | $343.1M | ||
| Q4 24 | $1.3B | $463.2M | ||
| Q3 24 | $1.1B | $407.9M | ||
| Q2 24 | $1.3B | $344.1M | ||
| Q1 24 | $1.4B | $333.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $802.0M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | $2.8B | $1.9B | ||
| Q2 25 | $2.8B | $1.9B | ||
| Q1 25 | $2.8B | $1.9B | ||
| Q4 24 | $2.8B | $1.8B | ||
| Q3 24 | $2.9B | $1.8B | ||
| Q2 24 | $2.9B | $1.8B | ||
| Q1 24 | $2.9B | $1.8B |
| Q4 25 | — | $4.0B | ||
| Q3 25 | $5.7B | $4.1B | ||
| Q2 25 | $5.7B | $4.1B | ||
| Q1 25 | $5.6B | $4.0B | ||
| Q4 24 | $5.6B | $4.0B | ||
| Q3 24 | $5.6B | $4.0B | ||
| Q2 24 | $5.6B | $3.6B | ||
| Q1 24 | $5.6B | $3.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.46× |
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 | $184.6M |
| Free Cash FlowOCF − Capex | $134.6M | $171.3M |
| FCF MarginFCF / Revenue | 11.0% | 18.6% |
| Capex IntensityCapex / Revenue | 3.3% | 1.4% |
| Cash ConversionOCF / Net Profit | 3.47× | 2.04× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $441.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $184.6M | ||
| Q3 25 | $174.3M | $218.0M | ||
| Q2 25 | $156.9M | $968.0K | ||
| Q1 25 | $103.7M | $135.2M | ||
| Q4 24 | $349.4M | $81.1M | ||
| Q3 24 | $-159.4M | $33.6M | ||
| Q2 24 | $58.5M | $10.4M | ||
| Q1 24 | $266.1M | — |
| Q4 25 | — | $171.3M | ||
| Q3 25 | $134.6M | $197.1M | ||
| Q2 25 | $128.2M | $-32.1M | ||
| Q1 25 | $76.8M | $104.9M | ||
| Q4 24 | $265.8M | $56.8M | ||
| Q3 24 | $-179.0M | $3.3M | ||
| Q2 24 | $41.6M | $-25.7M | ||
| Q1 24 | $249.5M | — |
| Q4 25 | — | 18.6% | ||
| Q3 25 | 11.0% | 20.7% | ||
| Q2 25 | 11.4% | -3.6% | ||
| Q1 25 | 7.2% | 10.8% | ||
| Q4 24 | 23.6% | 6.3% | ||
| Q3 24 | -19.0% | 0.4% | ||
| Q2 24 | 4.6% | -3.0% | ||
| Q1 24 | 24.0% | — |
| Q4 25 | — | 1.4% | ||
| Q3 25 | 3.3% | 2.2% | ||
| Q2 25 | 2.6% | 3.7% | ||
| Q1 25 | 2.5% | 3.1% | ||
| Q4 24 | 7.4% | 2.7% | ||
| Q3 24 | 2.1% | 3.4% | ||
| Q2 24 | 1.9% | 4.2% | ||
| Q1 24 | 1.6% | — |
| Q4 25 | — | 2.04× | ||
| Q3 25 | 3.47× | 3.19× | ||
| Q2 25 | 17.50× | 0.02× | ||
| Q1 25 | 2.33× | 1.40× | ||
| Q4 24 | 9.44× | 0.71× | ||
| Q3 24 | -11.20× | 0.41× | ||
| Q2 24 | — | 0.15× | ||
| 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% |
ENS
| Energy Systems | $399.5M | 43% |
| Motive Power | $352.0M | 38% |
| Services | $92.6M | 10% |
| Transferred Over Time | $38.2M | 4% |
| Other | $36.8M | 4% |
