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Side-by-side financial comparison of CIENA CORP (CIEN) and LOGITECH INTERNATIONAL S.A. (LOGI). Click either name above to swap in a different company.
LOGITECH INTERNATIONAL S.A. is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.2× CIENA CORP). LOGITECH INTERNATIONAL S.A. runs the higher net margin — 17.7% vs 4.1%, a 13.5% gap on every dollar of revenue. LOGITECH INTERNATIONAL S.A. produced more free cash flow last quarter ($465.6M vs $134.6M). Over the past eight quarters, LOGITECH INTERNATIONAL S.A.'s revenue compounded faster (18.5% 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).
Logitech International S.A. is a Swiss multinational manufacturer of computer peripherals and software. Headquartered in Lausanne, Switzerland, the company has offices throughout Europe, Asia, Oceania, and the Americas. It is a component of the Swiss Market Index, and is listed on the Nasdaq.
CIEN vs LOGI — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.4B |
| Net Profit | $50.3M | $251.0M |
| Gross Margin | 41.3% | 43.2% |
| Operating Margin | 6.0% | 20.1% |
| Net Margin | 4.1% | 17.7% |
| Revenue YoY | — | 6.1% |
| Net Profit YoY | — | 25.4% |
| EPS (diluted) | $0.35 | $1.69 |
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 | — | $1.4B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $942.3M | $1.1B | ||
| Q2 24 | $910.8M | $1.1B | ||
| Q1 24 | $1.0B | $1.0B |
| Q4 25 | — | $251.0M | ||
| Q3 25 | $50.3M | $170.7M | ||
| Q2 25 | $9.0M | $146.0M | ||
| Q1 25 | $44.6M | $144.1M | ||
| Q4 24 | $37.0M | $200.1M | ||
| Q3 24 | $14.2M | $145.5M | ||
| Q2 24 | $-16.8M | $141.8M | ||
| Q1 24 | $49.5M | $167.6M |
| Q4 25 | — | 43.2% | ||
| Q3 25 | 41.3% | 43.4% | ||
| Q2 25 | 40.2% | 41.7% | ||
| Q1 25 | 44.0% | 43.1% | ||
| Q4 24 | 40.9% | 42.9% | ||
| Q3 24 | 42.9% | 43.6% | ||
| Q2 24 | 42.7% | 42.8% | ||
| Q1 24 | 45.0% | 43.2% |
| Q4 25 | — | 20.1% | ||
| Q3 25 | 6.0% | 16.1% | ||
| Q2 25 | 2.9% | 14.1% | ||
| Q1 25 | 7.5% | 10.5% | ||
| Q4 24 | 5.3% | 17.5% | ||
| Q3 24 | 2.8% | 14.4% | ||
| Q2 24 | -0.4% | 14.1% | ||
| Q1 24 | 8.2% | 12.9% |
| Q4 25 | — | 17.7% | ||
| Q3 25 | 4.1% | 14.4% | ||
| Q2 25 | 0.8% | 12.7% | ||
| Q1 25 | 4.2% | 14.3% | ||
| Q4 24 | 3.3% | 14.9% | ||
| Q3 24 | 1.5% | 13.0% | ||
| Q2 24 | -1.8% | 13.0% | ||
| Q1 24 | 4.8% | 16.6% |
| Q4 25 | — | $1.69 | ||
| Q3 25 | $0.35 | $1.15 | ||
| Q2 25 | $0.06 | $0.98 | ||
| Q1 25 | $0.31 | $0.94 | ||
| Q4 24 | $0.26 | $1.32 | ||
| Q3 24 | $0.10 | $0.95 | ||
| Q2 24 | $-0.12 | $0.92 | ||
| Q1 24 | $0.34 | $1.07 |
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 | $1.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8B | $2.3B |
| Total Assets | $5.7B | $4.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.8B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $1.4B | $1.5B |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $2.8B | $2.1B | ||
| Q2 25 | $2.8B | $2.2B | ||
| Q1 25 | $2.8B | $2.1B | ||
| Q4 24 | $2.8B | $2.1B | ||
| Q3 24 | $2.9B | $2.1B | ||
| Q2 24 | $2.9B | $2.2B | ||
| Q1 24 | $2.9B | $2.2B |
| Q4 25 | — | $4.1B | ||
| Q3 25 | $5.7B | $3.7B | ||
| Q2 25 | $5.7B | $3.7B | ||
| Q1 25 | $5.6B | $3.5B | ||
| Q4 24 | $5.6B | $3.7B | ||
| Q3 24 | $5.6B | $3.6B | ||
| Q2 24 | $5.6B | $3.7B | ||
| Q1 24 | $5.6B | $3.6B |
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 | $480.5M |
| Free Cash FlowOCF − Capex | $134.6M | $465.6M |
| FCF MarginFCF / Revenue | 11.0% | 32.8% |
| Capex IntensityCapex / Revenue | 3.3% | 1.0% |
| Cash ConversionOCF / Net Profit | 3.47× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $903.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $480.5M | ||
| Q3 25 | $174.3M | $228.8M | ||
| Q2 25 | $156.9M | $125.0M | ||
| Q1 25 | $103.7M | $129.7M | ||
| Q4 24 | $349.4M | $370.9M | ||
| Q3 24 | $-159.4M | $166.0M | ||
| Q2 24 | $58.5M | $176.0M | ||
| Q1 24 | $266.1M | $239.1M |
| Q4 25 | — | $465.6M | ||
| Q3 25 | $134.6M | $212.3M | ||
| Q2 25 | $128.2M | $108.8M | ||
| Q1 25 | $76.8M | $116.9M | ||
| Q4 24 | $265.8M | $356.6M | ||
| Q3 24 | $-179.0M | $151.5M | ||
| Q2 24 | $41.6M | $161.4M | ||
| Q1 24 | $249.5M | $228.8M |
| Q4 25 | — | 32.8% | ||
| Q3 25 | 11.0% | 17.9% | ||
| Q2 25 | 11.4% | 9.5% | ||
| Q1 25 | 7.2% | 11.6% | ||
| Q4 24 | 23.6% | 26.6% | ||
| Q3 24 | -19.0% | 13.6% | ||
| Q2 24 | 4.6% | 14.8% | ||
| Q1 24 | 24.0% | 22.6% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 3.3% | 1.4% | ||
| Q2 25 | 2.6% | 1.4% | ||
| Q1 25 | 2.5% | 1.3% | ||
| Q4 24 | 7.4% | 1.1% | ||
| Q3 24 | 2.1% | 1.3% | ||
| Q2 24 | 1.9% | 1.3% | ||
| Q1 24 | 1.6% | 1.0% |
| Q4 25 | — | 1.91× | ||
| Q3 25 | 3.47× | 1.34× | ||
| Q2 25 | 17.50× | 0.86× | ||
| Q1 25 | 2.33× | 0.90× | ||
| Q4 24 | 9.44× | 1.85× | ||
| Q3 24 | -11.20× | 1.14× | ||
| Q2 24 | — | 1.24× | ||
| Q1 24 | 5.37× | 1.43× |
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% |
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
