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Side-by-side financial comparison of CIENA CORP (CIEN) and F&G Annuities & Life, Inc. (FG). Click either name above to swap in a different company.
F&G Annuities & Life, Inc. is the larger business by last-quarter revenue ($1.8B vs $1.2B, roughly 1.4× CIENA CORP). F&G Annuities & Life, Inc. runs the higher net margin — 7.3% vs 4.1%, a 3.1% gap on every dollar of revenue. Over the past eight quarters, F&G Annuities & Life, Inc.'s revenue compounded faster (6.1% CAGR vs 3.9%).
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).
F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.
CIEN vs FG — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.8B |
| Net Profit | $50.3M | $128.0M |
| Gross Margin | 41.3% | — |
| Operating Margin | 6.0% | — |
| Net Margin | 4.1% | 7.3% |
| Revenue YoY | — | 13.2% |
| Net Profit YoY | — | -60.9% |
| EPS (diluted) | $0.35 | $0.97 |
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 | — | $1.8B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $908.0M | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $942.3M | $1.4B | ||
| Q2 24 | $910.8M | $1.2B | ||
| Q1 24 | $1.0B | $1.6B |
| Q4 25 | — | $128.0M | ||
| Q3 25 | $50.3M | $118.0M | ||
| Q2 25 | $9.0M | $40.0M | ||
| Q1 25 | $44.6M | $-21.0M | ||
| Q4 24 | $37.0M | $327.0M | ||
| Q3 24 | $14.2M | $-6.0M | ||
| Q2 24 | $-16.8M | $203.0M | ||
| Q1 24 | $49.5M | $115.0M |
| Q4 25 | — | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 40.2% | — | ||
| Q1 25 | 44.0% | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.9% | — | ||
| Q2 24 | 42.7% | — | ||
| Q1 24 | 45.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | 6.0% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | -0.4% | — | ||
| Q1 24 | 8.2% | — |
| Q4 25 | — | 7.3% | ||
| Q3 25 | 4.1% | 7.0% | ||
| Q2 25 | 0.8% | 2.9% | ||
| Q1 25 | 4.2% | -2.3% | ||
| Q4 24 | 3.3% | 21.0% | ||
| Q3 24 | 1.5% | -0.4% | ||
| Q2 24 | -1.8% | 17.3% | ||
| Q1 24 | 4.8% | 7.3% |
| Q4 25 | — | $0.97 | ||
| Q3 25 | $0.35 | $0.85 | ||
| Q2 25 | $0.06 | $0.26 | ||
| Q1 25 | $0.31 | $-0.20 | ||
| Q4 24 | $0.26 | $2.53 | ||
| Q3 24 | $0.10 | $-0.08 | ||
| Q2 24 | $-0.12 | $1.55 | ||
| Q1 24 | $0.34 | $0.88 |
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 | $1.5B |
| Total DebtLower is stronger | — | $2.2B |
| Stockholders' EquityBook value | $2.8B | $4.8B |
| Total Assets | $5.7B | $98.4B |
| Debt / EquityLower = less leverage | — | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $1.2B | $3.3B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.1B | $3.5B | ||
| Q2 24 | $1.3B | $3.5B | ||
| Q1 24 | $1.4B | $2.4B |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.7B |
| Q4 25 | — | $4.8B | ||
| Q3 25 | $2.8B | $4.8B | ||
| Q2 25 | $2.8B | $4.4B | ||
| Q1 25 | $2.8B | $4.4B | ||
| Q4 24 | $2.8B | $4.0B | ||
| Q3 24 | $2.9B | $4.3B | ||
| Q2 24 | $2.9B | $3.7B | ||
| Q1 24 | $2.9B | $3.5B |
| Q4 25 | — | $98.4B | ||
| Q3 25 | $5.7B | $96.1B | ||
| Q2 25 | $5.7B | $91.8B | ||
| Q1 25 | $5.6B | $88.0B | ||
| Q4 24 | $5.6B | $85.0B | ||
| Q3 24 | $5.6B | $84.1B | ||
| Q2 24 | $5.6B | $78.5B | ||
| Q1 24 | $5.6B | $74.4B |
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.46× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.49× |
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 | $1.2B |
| Free Cash FlowOCF − Capex | $134.6M | — |
| FCF MarginFCF / Revenue | 11.0% | — |
| Capex IntensityCapex / Revenue | 3.3% | — |
| Cash ConversionOCF / Net Profit | 3.47× | 9.13× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.2B | ||
| Q3 25 | $174.3M | $937.0M | ||
| Q2 25 | $156.9M | $1.6B | ||
| Q1 25 | $103.7M | $956.0M | ||
| Q4 24 | $349.4M | $1.3B | ||
| Q3 24 | $-159.4M | $2.1B | ||
| Q2 24 | $58.5M | $1.1B | ||
| Q1 24 | $266.1M | $1.5B |
| Q4 25 | — | — | ||
| 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 | — | — | ||
| 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 | — | — | ||
| 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 | — | 9.13× | ||
| Q3 25 | 3.47× | 7.94× | ||
| Q2 25 | 17.50× | 40.50× | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | 4.04× | ||
| Q3 24 | -11.20× | — | ||
| Q2 24 | — | 5.20× | ||
| Q1 24 | 5.37× | 13.34× |
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% |
FG
Segment breakdown not available.
