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Side-by-side financial comparison of CIENA CORP (CIEN) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $1.1B, roughly 1.1× M/I HOMES, INC.). M/I HOMES, INC. runs the higher net margin — 5.6% vs 4.1%, a 1.5% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $-13.0M). Over the past eight quarters, M/I HOMES, INC.'s revenue compounded faster (4.7% 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).
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
CIEN vs MHO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.1B |
| Net Profit | $50.3M | $64.0M |
| Gross Margin | 41.3% | 17.4% |
| Operating Margin | 6.0% | 6.5% |
| Net Margin | 4.1% | 5.6% |
| Revenue YoY | — | -4.8% |
| Net Profit YoY | — | -52.1% |
| EPS (diluted) | $0.35 | $2.42 |
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 | — | $1.1B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $976.1M | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $942.3M | $1.1B | ||
| Q2 24 | $910.8M | $1.1B | ||
| Q1 24 | $1.0B | $1.0B |
| Q4 25 | — | $64.0M | ||
| Q3 25 | $50.3M | $106.5M | ||
| Q2 25 | $9.0M | $121.2M | ||
| Q1 25 | $44.6M | $111.2M | ||
| Q4 24 | $37.0M | $133.5M | ||
| Q3 24 | $14.2M | $145.4M | ||
| Q2 24 | $-16.8M | $146.7M | ||
| Q1 24 | $49.5M | $138.1M |
| Q4 25 | — | 17.4% | ||
| Q3 25 | 41.3% | 24.5% | ||
| Q2 25 | 40.2% | 24.7% | ||
| Q1 25 | 44.0% | 25.9% | ||
| Q4 24 | 40.9% | 24.6% | ||
| Q3 24 | 42.9% | 27.1% | ||
| Q2 24 | 42.7% | 27.9% | ||
| Q1 24 | 45.0% | 27.1% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | 6.0% | 12.0% | ||
| Q2 25 | 2.9% | 13.4% | ||
| Q1 25 | 7.5% | 14.4% | ||
| Q4 24 | 5.3% | 13.6% | ||
| Q3 24 | 2.8% | 15.9% | ||
| Q2 24 | -0.4% | 16.8% | ||
| Q1 24 | 8.2% | 16.6% |
| Q4 25 | — | 5.6% | ||
| Q3 25 | 4.1% | 9.4% | ||
| Q2 25 | 0.8% | 10.4% | ||
| Q1 25 | 4.2% | 11.4% | ||
| Q4 24 | 3.3% | 11.1% | ||
| Q3 24 | 1.5% | 12.7% | ||
| Q2 24 | -1.8% | 13.2% | ||
| Q1 24 | 4.8% | 13.2% |
| Q4 25 | — | $2.42 | ||
| Q3 25 | $0.35 | $3.92 | ||
| Q2 25 | $0.06 | $4.42 | ||
| Q1 25 | $0.31 | $3.98 | ||
| Q4 24 | $0.26 | $4.71 | ||
| Q3 24 | $0.10 | $5.10 | ||
| Q2 24 | $-0.12 | $5.12 | ||
| Q1 24 | $0.34 | $4.78 |
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 | $3.2B |
| Total Assets | $5.7B | $4.8B |
| 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 | — | $3.2B | ||
| Q3 25 | $2.8B | $3.1B | ||
| Q2 25 | $2.8B | $3.1B | ||
| Q1 25 | $2.8B | $3.0B | ||
| Q4 24 | $2.8B | $2.9B | ||
| Q3 24 | $2.9B | $2.8B | ||
| Q2 24 | $2.9B | $2.7B | ||
| Q1 24 | $2.9B | $2.6B |
| Q4 25 | — | $4.8B | ||
| Q3 25 | $5.7B | $4.8B | ||
| Q2 25 | $5.7B | $4.7B | ||
| Q1 25 | $5.6B | $4.6B | ||
| Q4 24 | $5.6B | $4.5B | ||
| Q3 24 | $5.6B | $4.5B | ||
| Q2 24 | $5.6B | $4.3B | ||
| Q1 24 | $5.6B | $4.2B |
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 | $-8.7M |
| Free Cash FlowOCF − Capex | $134.6M | $-13.0M |
| FCF MarginFCF / Revenue | 11.0% | -1.1% |
| Capex IntensityCapex / Revenue | 3.3% | 0.4% |
| Cash ConversionOCF / Net Profit | 3.47× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.7M | ||
| Q3 25 | $174.3M | $43.4M | ||
| Q2 25 | $156.9M | $37.8M | ||
| Q1 25 | $103.7M | $64.9M | ||
| Q4 24 | $349.4M | $104.4M | ||
| Q3 24 | $-159.4M | $-67.9M | ||
| Q2 24 | $58.5M | $27.5M | ||
| Q1 24 | $266.1M | $115.8M |
| Q4 25 | — | $-13.0M | ||
| Q3 25 | $134.6M | $42.0M | ||
| Q2 25 | $128.2M | $35.1M | ||
| Q1 25 | $76.8M | $63.5M | ||
| Q4 24 | $265.8M | $102.3M | ||
| Q3 24 | $-179.0M | $-68.5M | ||
| Q2 24 | $41.6M | $22.0M | ||
| Q1 24 | $249.5M | $115.5M |
| Q4 25 | — | -1.1% | ||
| Q3 25 | 11.0% | 3.7% | ||
| Q2 25 | 11.4% | 3.0% | ||
| Q1 25 | 7.2% | 6.5% | ||
| Q4 24 | 23.6% | 8.5% | ||
| Q3 24 | -19.0% | -6.0% | ||
| Q2 24 | 4.6% | 2.0% | ||
| Q1 24 | 24.0% | 11.0% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | 3.3% | 0.1% | ||
| Q2 25 | 2.6% | 0.2% | ||
| Q1 25 | 2.5% | 0.1% | ||
| Q4 24 | 7.4% | 0.2% | ||
| Q3 24 | 2.1% | 0.1% | ||
| Q2 24 | 1.9% | 0.5% | ||
| Q1 24 | 1.6% | 0.0% |
| Q4 25 | — | -0.14× | ||
| Q3 25 | 3.47× | 0.41× | ||
| Q2 25 | 17.50× | 0.31× | ||
| Q1 25 | 2.33× | 0.58× | ||
| Q4 24 | 9.44× | 0.78× | ||
| Q3 24 | -11.20× | -0.47× | ||
| Q2 24 | — | 0.19× | ||
| Q1 24 | 5.37× | 0.84× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
