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Side-by-side financial comparison of CIENA CORP (CIEN) and ENTEGRIS INC (ENTG). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $823.9M, roughly 1.5× ENTEGRIS INC). ENTEGRIS INC runs the higher net margin — 6.0% vs 4.1%, a 1.9% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $134.0M). Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% CAGR vs 3.4%).
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).
Entegris, Inc. is a supplier of materials for the semiconductor and other high-tech industries. Entegris has approximately 8,000 employees throughout its global operations. It has manufacturing, customer service and/or research facilities in the United States, Canada, China, Germany, Israel, Japan, Malaysia, Singapore, South Korea, and Taiwan. The company’s corporate headquarters are in Billerica, Massachusetts.
CIEN vs ENTG — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $823.9M |
| Net Profit | $50.3M | $49.4M |
| Gross Margin | 41.3% | 43.8% |
| Operating Margin | 6.0% | 12.7% |
| Net Margin | 4.1% | 6.0% |
| Revenue YoY | — | -3.1% |
| Net Profit YoY | — | -51.7% |
| EPS (diluted) | $0.35 | $0.33 |
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 | — | $823.9M | ||
| Q3 25 | $1.2B | $807.1M | ||
| Q2 25 | $1.1B | $792.4M | ||
| Q1 25 | $1.1B | $773.2M | ||
| Q4 24 | $1.1B | $849.8M | ||
| Q3 24 | $942.3M | $807.7M | ||
| Q2 24 | $910.8M | $812.7M | ||
| Q1 24 | $1.0B | $771.0M |
| Q4 25 | — | $49.4M | ||
| Q3 25 | $50.3M | $70.5M | ||
| Q2 25 | $9.0M | $52.8M | ||
| Q1 25 | $44.6M | $62.9M | ||
| Q4 24 | $37.0M | $102.2M | ||
| Q3 24 | $14.2M | $77.6M | ||
| Q2 24 | $-16.8M | $67.7M | ||
| Q1 24 | $49.5M | $45.3M |
| Q4 25 | — | 43.8% | ||
| Q3 25 | 41.3% | 43.5% | ||
| Q2 25 | 40.2% | 44.4% | ||
| Q1 25 | 44.0% | 46.1% | ||
| Q4 24 | 40.9% | 45.6% | ||
| Q3 24 | 42.9% | 46.0% | ||
| Q2 24 | 42.7% | 46.2% | ||
| Q1 24 | 45.0% | 45.6% |
| Q4 25 | — | 12.7% | ||
| Q3 25 | 6.0% | 15.2% | ||
| Q2 25 | 2.9% | 13.4% | ||
| Q1 25 | 7.5% | 15.8% | ||
| Q4 24 | 5.3% | 17.6% | ||
| Q3 24 | 2.8% | 16.9% | ||
| Q2 24 | -0.4% | 16.0% | ||
| Q1 24 | 8.2% | 15.3% |
| Q4 25 | — | 6.0% | ||
| Q3 25 | 4.1% | 8.7% | ||
| Q2 25 | 0.8% | 6.7% | ||
| Q1 25 | 4.2% | 8.1% | ||
| Q4 24 | 3.3% | 12.0% | ||
| Q3 24 | 1.5% | 9.6% | ||
| Q2 24 | -1.8% | 8.3% | ||
| Q1 24 | 4.8% | 5.9% |
| Q4 25 | — | $0.33 | ||
| Q3 25 | $0.35 | $0.46 | ||
| Q2 25 | $0.06 | $0.35 | ||
| Q1 25 | $0.31 | $0.41 | ||
| Q4 24 | $0.26 | $0.67 | ||
| Q3 24 | $0.10 | $0.51 | ||
| Q2 24 | $-0.12 | $0.45 | ||
| Q1 24 | $0.34 | $0.30 |
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 | $360.4M |
| Total DebtLower is stronger | — | $3.7B |
| Stockholders' EquityBook value | $2.8B | $4.0B |
| Total Assets | $5.7B | $8.4B |
| Debt / EquityLower = less leverage | — | 0.94× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $360.4M | ||
| Q3 25 | $1.3B | $399.8M | ||
| Q2 25 | $1.3B | $376.8M | ||
| Q1 25 | $1.2B | $340.9M | ||
| Q4 24 | $1.3B | $329.2M | ||
| Q3 24 | $1.1B | $432.1M | ||
| Q2 24 | $1.3B | $320.0M | ||
| Q1 24 | $1.4B | $340.7M |
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.2B |
| Q4 25 | — | $4.0B | ||
| Q3 25 | $2.8B | $3.9B | ||
| Q2 25 | $2.8B | $3.8B | ||
| Q1 25 | $2.8B | $3.7B | ||
| Q4 24 | $2.8B | $3.7B | ||
| Q3 24 | $2.9B | $3.6B | ||
| Q2 24 | $2.9B | $3.5B | ||
| Q1 24 | $2.9B | $3.4B |
| Q4 25 | — | $8.4B | ||
| Q3 25 | $5.7B | $8.4B | ||
| Q2 25 | $5.7B | $8.4B | ||
| Q1 25 | $5.6B | $8.4B | ||
| Q4 24 | $5.6B | $8.4B | ||
| Q3 24 | $5.6B | $8.5B | ||
| Q2 24 | $5.6B | $8.3B | ||
| Q1 24 | $5.6B | $8.4B |
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.06× | ||
| Q4 24 | — | 1.08× | ||
| Q3 24 | — | 1.15× | ||
| Q2 24 | — | 1.18× | ||
| Q1 24 | — | 1.22× |
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 | $192.0M |
| Free Cash FlowOCF − Capex | $134.6M | $134.0M |
| FCF MarginFCF / Revenue | 11.0% | 16.3% |
| Capex IntensityCapex / Revenue | 3.3% | 7.0% |
| Cash ConversionOCF / Net Profit | 3.47× | 3.89× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $396.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $192.0M | ||
| Q3 25 | $174.3M | $249.5M | ||
| Q2 25 | $156.9M | $113.5M | ||
| Q1 25 | $103.7M | $140.4M | ||
| Q4 24 | $349.4M | $176.1M | ||
| Q3 24 | $-159.4M | $197.2M | ||
| Q2 24 | $58.5M | $111.2M | ||
| Q1 24 | $266.1M | $147.2M |
| Q4 25 | — | $134.0M | ||
| Q3 25 | $134.6M | $182.8M | ||
| Q2 25 | $128.2M | $47.0M | ||
| Q1 25 | $76.8M | $32.4M | ||
| Q4 24 | $265.8M | $68.6M | ||
| Q3 24 | $-179.0M | $115.0M | ||
| Q2 24 | $41.6M | $51.9M | ||
| Q1 24 | $249.5M | $80.6M |
| Q4 25 | — | 16.3% | ||
| Q3 25 | 11.0% | 22.6% | ||
| Q2 25 | 11.4% | 5.9% | ||
| Q1 25 | 7.2% | 4.2% | ||
| Q4 24 | 23.6% | 8.1% | ||
| Q3 24 | -19.0% | 14.2% | ||
| Q2 24 | 4.6% | 6.4% | ||
| Q1 24 | 24.0% | 10.4% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | 3.3% | 8.3% | ||
| Q2 25 | 2.6% | 8.4% | ||
| Q1 25 | 2.5% | 14.0% | ||
| Q4 24 | 7.4% | 12.7% | ||
| Q3 24 | 2.1% | 10.2% | ||
| Q2 24 | 1.9% | 7.3% | ||
| Q1 24 | 1.6% | 8.6% |
| Q4 25 | — | 3.89× | ||
| Q3 25 | 3.47× | 3.54× | ||
| Q2 25 | 17.50× | 2.15× | ||
| Q1 25 | 2.33× | 2.23× | ||
| Q4 24 | 9.44× | 1.72× | ||
| Q3 24 | -11.20× | 2.54× | ||
| Q2 24 | — | 1.64× | ||
| Q1 24 | 5.37× | 3.25× |
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% |
ENTG
| Fabs | $516.3M | 63% |
| Equipment And Engineering | $121.8M | 15% |
| Chemical And Materials | $83.8M | 10% |
| Other | $61.7M | 7% |
| Non Semi | $40.3M | 5% |
