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Side-by-side financial comparison of CIENA CORP (CIEN) and FIRST HORIZON CORP (FHN). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $888.0M, roughly 1.4× FIRST HORIZON CORP). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 4.1%, a 25.3% gap on every dollar of revenue. FIRST HORIZON CORP produced more free cash flow last quarter ($389.0M vs $134.6M). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% 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).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
CIEN vs FHN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $888.0M |
| Net Profit | $50.3M | $261.0M |
| Gross Margin | 41.3% | — |
| Operating Margin | 6.0% | 38.5% |
| Net Margin | 4.1% | 29.4% |
| Revenue YoY | — | 21.8% |
| Net Profit YoY | — | 57.2% |
| EPS (diluted) | $0.35 | $0.51 |
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 | — | $888.0M | ||
| Q3 25 | $1.2B | $889.0M | ||
| Q2 25 | $1.1B | $830.0M | ||
| Q1 25 | $1.1B | $812.0M | ||
| Q4 24 | $1.1B | $729.0M | ||
| Q3 24 | $942.3M | $827.0M | ||
| Q2 24 | $910.8M | — | ||
| Q1 24 | $1.0B | $819.0M |
| Q4 25 | — | $261.0M | ||
| Q3 25 | $50.3M | $262.0M | ||
| Q2 25 | $9.0M | $241.0M | ||
| Q1 25 | $44.6M | $218.0M | ||
| Q4 24 | $37.0M | $166.0M | ||
| Q3 24 | $14.2M | $218.0M | ||
| Q2 24 | $-16.8M | — | ||
| Q1 24 | $49.5M | $192.0M |
| 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 | — | 38.5% | ||
| Q3 25 | 6.0% | 38.7% | ||
| Q2 25 | 2.9% | 37.2% | ||
| Q1 25 | 7.5% | 35.1% | ||
| Q4 24 | 5.3% | 28.8% | ||
| Q3 24 | 2.8% | 34.0% | ||
| Q2 24 | -0.4% | — | ||
| Q1 24 | 8.2% | 31.0% |
| Q4 25 | — | 29.4% | ||
| Q3 25 | 4.1% | 29.5% | ||
| Q2 25 | 0.8% | 29.0% | ||
| Q1 25 | 4.2% | 26.8% | ||
| Q4 24 | 3.3% | 22.8% | ||
| Q3 24 | 1.5% | 26.4% | ||
| Q2 24 | -1.8% | — | ||
| Q1 24 | 4.8% | 23.4% |
| Q4 25 | — | $0.51 | ||
| Q3 25 | $0.35 | $0.50 | ||
| Q2 25 | $0.06 | $0.45 | ||
| Q1 25 | $0.31 | $0.41 | ||
| Q4 24 | $0.26 | $0.29 | ||
| Q3 24 | $0.10 | $0.40 | ||
| Q2 24 | $-0.12 | — | ||
| Q1 24 | $0.34 | $0.33 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8B | $8.8B |
| Total Assets | $5.7B | $83.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | — | $8.8B | ||
| Q3 25 | $2.8B | $8.9B | ||
| Q2 25 | $2.8B | $9.0B | ||
| Q1 25 | $2.8B | $8.7B | ||
| Q4 24 | $2.8B | $8.8B | ||
| Q3 24 | $2.9B | $9.0B | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.9B | $8.9B |
| Q4 25 | — | $83.9B | ||
| Q3 25 | $5.7B | $83.2B | ||
| Q2 25 | $5.7B | $82.1B | ||
| Q1 25 | $5.6B | $81.5B | ||
| Q4 24 | $5.6B | $82.2B | ||
| Q3 24 | $5.6B | $82.6B | ||
| Q2 24 | $5.6B | — | ||
| Q1 24 | $5.6B | $81.8B |
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 | $396.0M |
| Free Cash FlowOCF − Capex | $134.6M | $389.0M |
| FCF MarginFCF / Revenue | 11.0% | 43.8% |
| Capex IntensityCapex / Revenue | 3.3% | 0.8% |
| Cash ConversionOCF / Net Profit | 3.47× | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $595.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $396.0M | ||
| Q3 25 | $174.3M | $-200.0M | ||
| Q2 25 | $156.9M | $83.0M | ||
| Q1 25 | $103.7M | $349.0M | ||
| Q4 24 | $349.4M | $191.0M | ||
| Q3 24 | $-159.4M | $389.0M | ||
| Q2 24 | $58.5M | — | ||
| Q1 24 | $266.1M | $838.0M |
| Q4 25 | — | $389.0M | ||
| Q3 25 | $134.6M | $-208.0M | ||
| Q2 25 | $128.2M | $74.0M | ||
| Q1 25 | $76.8M | $340.0M | ||
| Q4 24 | $265.8M | $174.0M | ||
| Q3 24 | $-179.0M | $383.0M | ||
| Q2 24 | $41.6M | — | ||
| Q1 24 | $249.5M | $828.0M |
| Q4 25 | — | 43.8% | ||
| Q3 25 | 11.0% | -23.4% | ||
| Q2 25 | 11.4% | 8.9% | ||
| Q1 25 | 7.2% | 41.9% | ||
| Q4 24 | 23.6% | 23.9% | ||
| Q3 24 | -19.0% | 46.3% | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 24.0% | 101.1% |
| Q4 25 | — | 0.8% | ||
| Q3 25 | 3.3% | 0.9% | ||
| Q2 25 | 2.6% | 1.1% | ||
| Q1 25 | 2.5% | 1.1% | ||
| Q4 24 | 7.4% | 2.3% | ||
| Q3 24 | 2.1% | 0.7% | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 1.6% | 1.2% |
| Q4 25 | — | 1.52× | ||
| Q3 25 | 3.47× | -0.76× | ||
| Q2 25 | 17.50× | 0.34× | ||
| Q1 25 | 2.33× | 1.60× | ||
| Q4 24 | 9.44× | 1.15× | ||
| Q3 24 | -11.20× | 1.78× | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.37× | 4.36× |
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% |
FHN
| Commercial Consumer And Wealth Segment | $776.0M | 87% |
| Other | $88.0M | 10% |
| Corporate | $24.0M | 3% |
