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Side-by-side financial comparison of CIENA CORP (CIEN) and Installed Building Products, Inc. (IBP). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $747.5M, roughly 1.6× Installed Building Products, Inc.). Installed Building Products, Inc. runs the higher net margin — 10.2% vs 4.1%, a 6.1% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $49.3M). Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% 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).
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
CIEN vs IBP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $747.5M |
| Net Profit | $50.3M | $76.6M |
| Gross Margin | 41.3% | 35.0% |
| Operating Margin | 6.0% | 14.6% |
| Net Margin | 4.1% | 10.2% |
| Revenue YoY | — | -0.4% |
| Net Profit YoY | — | 14.5% |
| EPS (diluted) | $0.35 | $2.81 |
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 | — | $747.5M | ||
| Q3 25 | $1.2B | $778.2M | ||
| Q2 25 | $1.1B | $760.3M | ||
| Q1 25 | $1.1B | $684.8M | ||
| Q4 24 | $1.1B | $750.2M | ||
| Q3 24 | $942.3M | $760.6M | ||
| Q2 24 | $910.8M | $737.6M | ||
| Q1 24 | $1.0B | $692.9M |
| Q4 25 | — | $76.6M | ||
| Q3 25 | $50.3M | $74.4M | ||
| Q2 25 | $9.0M | $69.0M | ||
| Q1 25 | $44.6M | $45.4M | ||
| Q4 24 | $37.0M | $66.9M | ||
| Q3 24 | $14.2M | $68.6M | ||
| Q2 24 | $-16.8M | $65.2M | ||
| Q1 24 | $49.5M | $55.9M |
| Q4 25 | — | 35.0% | ||
| Q3 25 | 41.3% | 34.0% | ||
| Q2 25 | 40.2% | 34.2% | ||
| Q1 25 | 44.0% | 32.7% | ||
| Q4 24 | 40.9% | 33.6% | ||
| Q3 24 | 42.9% | 33.8% | ||
| Q2 24 | 42.7% | 34.1% | ||
| Q1 24 | 45.0% | 33.8% |
| Q4 25 | — | 14.6% | ||
| Q3 25 | 6.0% | 13.7% | ||
| Q2 25 | 2.9% | 13.3% | ||
| Q1 25 | 7.5% | 10.2% | ||
| Q4 24 | 5.3% | 13.1% | ||
| Q3 24 | 2.8% | 13.3% | ||
| Q2 24 | -0.4% | 12.9% | ||
| Q1 24 | 8.2% | 12.7% |
| Q4 25 | — | 10.2% | ||
| Q3 25 | 4.1% | 9.6% | ||
| Q2 25 | 0.8% | 9.1% | ||
| Q1 25 | 4.2% | 6.6% | ||
| Q4 24 | 3.3% | 8.9% | ||
| Q3 24 | 1.5% | 9.0% | ||
| Q2 24 | -1.8% | 8.8% | ||
| Q1 24 | 4.8% | 8.1% |
| Q4 25 | — | $2.81 | ||
| Q3 25 | $0.35 | $2.74 | ||
| Q2 25 | $0.06 | $2.52 | ||
| Q1 25 | $0.31 | $1.64 | ||
| Q4 24 | $0.26 | $2.39 | ||
| Q3 24 | $0.10 | $2.44 | ||
| Q2 24 | $-0.12 | $2.30 | ||
| Q1 24 | $0.34 | $1.97 |
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 | $321.9M |
| Total DebtLower is stronger | — | $886.6M |
| Stockholders' EquityBook value | $2.8B | $709.9M |
| Total Assets | $5.7B | $2.1B |
| Debt / EquityLower = less leverage | — | 1.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $321.9M | ||
| Q3 25 | $1.3B | $333.3M | ||
| Q2 25 | $1.3B | $305.2M | ||
| Q1 25 | $1.2B | $298.7M | ||
| Q4 24 | $1.3B | $327.6M | ||
| Q3 24 | $1.1B | $406.2M | ||
| Q2 24 | $1.3B | $380.3M | ||
| Q1 24 | $1.4B | $399.9M |
| Q4 25 | — | $886.6M | ||
| Q3 25 | — | $880.8M | ||
| Q2 25 | — | $876.1M | ||
| Q1 25 | — | $872.4M | ||
| Q4 24 | — | $874.8M | ||
| Q3 24 | — | $872.3M | ||
| Q2 24 | — | $875.8M | ||
| Q1 24 | — | $875.0M |
| Q4 25 | — | $709.9M | ||
| Q3 25 | $2.8B | $678.6M | ||
| Q2 25 | $2.8B | $664.5M | ||
| Q1 25 | $2.8B | $660.9M | ||
| Q4 24 | $2.8B | $705.3M | ||
| Q3 24 | $2.9B | $716.4M | ||
| Q2 24 | $2.9B | $685.3M | ||
| Q1 24 | $2.9B | $679.2M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | $5.7B | $2.1B | ||
| Q2 25 | $5.7B | $2.0B | ||
| Q1 25 | $5.6B | $2.0B | ||
| Q4 24 | $5.6B | $2.1B | ||
| Q3 24 | $5.6B | $2.1B | ||
| Q2 24 | $5.6B | $2.0B | ||
| Q1 24 | $5.6B | $2.0B |
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.24× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.29× |
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 | $64.9M |
| Free Cash FlowOCF − Capex | $134.6M | $49.3M |
| FCF MarginFCF / Revenue | 11.0% | 6.6% |
| Capex IntensityCapex / Revenue | 3.3% | 2.1% |
| Cash ConversionOCF / Net Profit | 3.47× | 0.85× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $300.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $64.9M | ||
| Q3 25 | $174.3M | $124.0M | ||
| Q2 25 | $156.9M | $90.4M | ||
| Q1 25 | $103.7M | $92.1M | ||
| Q4 24 | $349.4M | $74.8M | ||
| Q3 24 | $-159.4M | $101.4M | ||
| Q2 24 | $58.5M | $79.0M | ||
| Q1 24 | $266.1M | $84.8M |
| Q4 25 | — | $49.3M | ||
| Q3 25 | $134.6M | $104.8M | ||
| Q2 25 | $128.2M | $74.8M | ||
| Q1 25 | $76.8M | $71.9M | ||
| Q4 24 | $265.8M | $52.9M | ||
| Q3 24 | $-179.0M | $77.3M | ||
| Q2 24 | $41.6M | $58.2M | ||
| Q1 24 | $249.5M | $63.0M |
| Q4 25 | — | 6.6% | ||
| Q3 25 | 11.0% | 13.5% | ||
| Q2 25 | 11.4% | 9.8% | ||
| Q1 25 | 7.2% | 10.5% | ||
| Q4 24 | 23.6% | 7.1% | ||
| Q3 24 | -19.0% | 10.2% | ||
| Q2 24 | 4.6% | 7.9% | ||
| Q1 24 | 24.0% | 9.1% |
| Q4 25 | — | 2.1% | ||
| Q3 25 | 3.3% | 2.5% | ||
| Q2 25 | 2.6% | 2.1% | ||
| Q1 25 | 2.5% | 2.9% | ||
| Q4 24 | 7.4% | 2.9% | ||
| Q3 24 | 2.1% | 3.2% | ||
| Q2 24 | 1.9% | 2.8% | ||
| Q1 24 | 1.6% | 3.1% |
| Q4 25 | — | 0.85× | ||
| Q3 25 | 3.47× | 1.67× | ||
| Q2 25 | 17.50× | 1.31× | ||
| Q1 25 | 2.33× | 2.03× | ||
| Q4 24 | 9.44× | 1.12× | ||
| Q3 24 | -11.20× | 1.48× | ||
| Q2 24 | — | 1.21× | ||
| Q1 24 | 5.37× | 1.52× |
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% |
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
