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Side-by-side financial comparison of CIENA CORP (CIEN) and LCI INDUSTRIES (LCII). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $932.7M, roughly 1.3× LCI INDUSTRIES). CIENA CORP runs the higher net margin — 4.1% vs 2.0%, a 2.1% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $64.3M). Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% CAGR vs -1.8%).
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).
Lucky Core Industries Limited, formerly known as ICI Pakistan, is a Pakistani conglomerate company headquartered in Karachi. It manufactures polyester, pharmaceutical, agrochemical, soda ash, and veterinary medicine.
CIEN vs LCII — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $932.7M |
| Net Profit | $50.3M | $18.7M |
| Gross Margin | 41.3% | 22.1% |
| Operating Margin | 6.0% | 3.8% |
| Net Margin | 4.1% | 2.0% |
| Revenue YoY | — | 16.1% |
| Net Profit YoY | — | 95.7% |
| EPS (diluted) | $0.35 | $0.79 |
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 | — | $932.7M | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.1B | $803.1M | ||
| Q3 24 | $942.3M | $915.5M | ||
| Q2 24 | $910.8M | $1.1B | ||
| Q1 24 | $1.0B | $968.0M |
| Q4 25 | — | $18.7M | ||
| Q3 25 | $50.3M | $62.5M | ||
| Q2 25 | $9.0M | $57.6M | ||
| Q1 25 | $44.6M | $49.4M | ||
| Q4 24 | $37.0M | $9.5M | ||
| Q3 24 | $14.2M | $35.6M | ||
| Q2 24 | $-16.8M | $61.2M | ||
| Q1 24 | $49.5M | $36.5M |
| Q4 25 | — | 22.1% | ||
| Q3 25 | 41.3% | 24.4% | ||
| Q2 25 | 40.2% | 24.4% | ||
| Q1 25 | 44.0% | 24.1% | ||
| Q4 24 | 40.9% | 21.1% | ||
| Q3 24 | 42.9% | 24.0% | ||
| Q2 24 | 42.7% | 25.3% | ||
| Q1 24 | 45.0% | 23.1% |
| Q4 25 | — | 3.8% | ||
| Q3 25 | 6.0% | 7.3% | ||
| Q2 25 | 2.9% | 7.9% | ||
| Q1 25 | 7.5% | 7.8% | ||
| Q4 24 | 5.3% | 2.0% | ||
| Q3 24 | 2.8% | 5.9% | ||
| Q2 24 | -0.4% | 8.6% | ||
| Q1 24 | 8.2% | 6.0% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | 4.1% | 6.0% | ||
| Q2 25 | 0.8% | 5.2% | ||
| Q1 25 | 4.2% | 4.7% | ||
| Q4 24 | 3.3% | 1.2% | ||
| Q3 24 | 1.5% | 3.9% | ||
| Q2 24 | -1.8% | 5.8% | ||
| Q1 24 | 4.8% | 3.8% |
| Q4 25 | — | $0.79 | ||
| Q3 25 | $0.35 | $2.55 | ||
| Q2 25 | $0.06 | $2.29 | ||
| Q1 25 | $0.31 | $1.94 | ||
| Q4 24 | $0.26 | $0.37 | ||
| Q3 24 | $0.10 | $1.39 | ||
| Q2 24 | $-0.12 | $2.40 | ||
| Q1 24 | $0.34 | $1.44 |
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 | $222.6M |
| Total DebtLower is stronger | — | $945.2M |
| Stockholders' EquityBook value | $2.8B | $1.4B |
| Total Assets | $5.7B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $222.6M | ||
| Q3 25 | $1.3B | $199.7M | ||
| Q2 25 | $1.3B | $191.9M | ||
| Q1 25 | $1.2B | $231.2M | ||
| Q4 24 | $1.3B | $165.8M | ||
| Q3 24 | $1.1B | $161.2M | ||
| Q2 24 | $1.3B | $130.4M | ||
| Q1 24 | $1.4B | $22.6M |
| Q4 25 | — | $945.2M | ||
| Q3 25 | — | $947.8M | ||
| Q2 25 | — | $948.0M | ||
| Q1 25 | — | $938.3M | ||
| Q4 24 | — | $757.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | — | $829.7M | ||
| Q1 24 | — | $855.3M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $2.8B | $1.4B | ||
| Q2 25 | $2.8B | $1.4B | ||
| Q1 25 | $2.8B | $1.4B | ||
| Q4 24 | $2.8B | $1.4B | ||
| Q3 24 | $2.9B | $1.4B | ||
| Q2 24 | $2.9B | $1.4B | ||
| Q1 24 | $2.9B | $1.4B |
| Q4 25 | — | $3.2B | ||
| Q3 25 | $5.7B | $3.2B | ||
| Q2 25 | $5.7B | $3.2B | ||
| Q1 25 | $5.6B | $3.1B | ||
| Q4 24 | $5.6B | $2.9B | ||
| Q3 24 | $5.6B | $3.0B | ||
| Q2 24 | $5.6B | $3.0B | ||
| Q1 24 | $5.6B | $3.0B |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | — | 0.63× |
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 | $78.9M |
| Free Cash FlowOCF − Capex | $134.6M | $64.3M |
| FCF MarginFCF / Revenue | 11.0% | 6.9% |
| Capex IntensityCapex / Revenue | 3.3% | 1.6% |
| Cash ConversionOCF / Net Profit | 3.47× | 4.22× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $278.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $78.9M | ||
| Q3 25 | $174.3M | $97.2M | ||
| Q2 25 | $156.9M | $112.2M | ||
| Q1 25 | $103.7M | $42.7M | ||
| Q4 24 | $349.4M | $106.6M | ||
| Q3 24 | $-159.4M | $78.4M | ||
| Q2 24 | $58.5M | $192.9M | ||
| Q1 24 | $266.1M | $-7.7M |
| Q4 25 | — | $64.3M | ||
| Q3 25 | $134.6M | $80.9M | ||
| Q2 25 | $128.2M | $99.5M | ||
| Q1 25 | $76.8M | $33.7M | ||
| Q4 24 | $265.8M | $95.7M | ||
| Q3 24 | $-179.0M | $68.3M | ||
| Q2 24 | $41.6M | $180.2M | ||
| Q1 24 | $249.5M | $-16.3M |
| Q4 25 | — | 6.9% | ||
| Q3 25 | 11.0% | 7.8% | ||
| Q2 25 | 11.4% | 9.0% | ||
| Q1 25 | 7.2% | 3.2% | ||
| Q4 24 | 23.6% | 11.9% | ||
| Q3 24 | -19.0% | 7.5% | ||
| Q2 24 | 4.6% | 17.1% | ||
| Q1 24 | 24.0% | -1.7% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | 3.3% | 1.6% | ||
| Q2 25 | 2.6% | 1.2% | ||
| Q1 25 | 2.5% | 0.9% | ||
| Q4 24 | 7.4% | 1.4% | ||
| Q3 24 | 2.1% | 1.1% | ||
| Q2 24 | 1.9% | 1.2% | ||
| Q1 24 | 1.6% | 0.9% |
| Q4 25 | — | 4.22× | ||
| Q3 25 | 3.47× | 1.55× | ||
| Q2 25 | 17.50× | 1.95× | ||
| Q1 25 | 2.33× | 0.86× | ||
| Q4 24 | 9.44× | 11.17× | ||
| Q3 24 | -11.20× | 2.20× | ||
| Q2 24 | — | 3.15× | ||
| Q1 24 | 5.37× | -0.21× |
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% |
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
