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Side-by-side financial comparison of CIENA CORP (CIEN) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $692.4M, roughly 1.8× OCEANEERING INTERNATIONAL INC). OCEANEERING INTERNATIONAL INC runs the higher net margin — 5.2% vs 4.1%, a 1.1% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $-76.5M). 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).
Oceaneering International, Inc. is a subsea engineering and applied technology company based in Houston, Texas, U.S. that provides engineered services and hardware to customers who operate in marine, space, and other environments.
CIEN vs OII — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $692.4M |
| Net Profit | $50.3M | $36.1M |
| Gross Margin | 41.3% | — |
| Operating Margin | 6.0% | — |
| Net Margin | 4.1% | 5.2% |
| Revenue YoY | — | 3.6% |
| Net Profit YoY | — | -28.3% |
| EPS (diluted) | $0.35 | $0.36 |
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.
| Q1 26 | — | $692.4M | ||
| Q4 25 | — | $668.6M | ||
| Q3 25 | $1.2B | $742.9M | ||
| Q2 25 | $1.1B | $698.2M | ||
| Q1 25 | $1.1B | $674.5M | ||
| Q4 24 | $1.1B | $713.5M | ||
| Q3 24 | $942.3M | $679.8M | ||
| Q2 24 | $910.8M | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | — | $177.7M | ||
| Q3 25 | $50.3M | $71.3M | ||
| Q2 25 | $9.0M | $54.4M | ||
| Q1 25 | $44.6M | $50.4M | ||
| Q4 24 | $37.0M | $56.1M | ||
| Q3 24 | $14.2M | $41.2M | ||
| Q2 24 | $-16.8M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | 41.3% | 20.6% | ||
| Q2 25 | 40.2% | 21.3% | ||
| Q1 25 | 44.0% | 20.0% | ||
| Q4 24 | 40.9% | 19.9% | ||
| Q3 24 | 42.9% | 19.3% | ||
| Q2 24 | 42.7% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.8% | ||
| Q3 25 | 6.0% | 11.6% | ||
| Q2 25 | 2.9% | 11.3% | ||
| Q1 25 | 7.5% | 10.9% | ||
| Q4 24 | 5.3% | 10.9% | ||
| Q3 24 | 2.8% | 10.5% | ||
| Q2 24 | -0.4% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | — | 26.6% | ||
| Q3 25 | 4.1% | 9.6% | ||
| Q2 25 | 0.8% | 7.8% | ||
| Q1 25 | 4.2% | 7.5% | ||
| Q4 24 | 3.3% | 7.9% | ||
| Q3 24 | 1.5% | 6.1% | ||
| Q2 24 | -1.8% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | — | $1.75 | ||
| Q3 25 | $0.35 | $0.71 | ||
| Q2 25 | $0.06 | $0.54 | ||
| Q1 25 | $0.31 | $0.49 | ||
| Q4 24 | $0.26 | $0.55 | ||
| Q3 24 | $0.10 | $0.40 | ||
| Q2 24 | $-0.12 | $0.34 |
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 | — | $488.8M |
| Stockholders' EquityBook value | $2.8B | $1.1B |
| Total Assets | $5.7B | $2.6B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $695.9M | ||
| Q3 25 | $1.3B | $7.0M | ||
| Q2 25 | $1.3B | $7.0M | ||
| Q1 25 | $1.2B | $7.0M | ||
| Q4 24 | $1.3B | $504.5M | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | — | $487.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $482.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $2.8B | $907.7M | ||
| Q2 25 | $2.8B | $842.1M | ||
| Q1 25 | $2.8B | $773.1M | ||
| Q4 24 | $2.8B | $714.3M | ||
| Q3 24 | $2.9B | $698.0M | ||
| Q2 24 | $2.9B | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $5.7B | $2.5B | ||
| Q2 25 | $5.7B | $2.3B | ||
| Q1 25 | $5.6B | $2.3B | ||
| Q4 24 | $5.6B | $2.3B | ||
| Q3 24 | $5.6B | $2.4B | ||
| Q2 24 | $5.6B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| Free Cash FlowOCF − Capex | $134.6M | $-76.5M |
| FCF MarginFCF / Revenue | 11.0% | -11.1% |
| Capex IntensityCapex / Revenue | 3.3% | 2.5% |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $221.1M | ||
| Q3 25 | $174.3M | $101.3M | ||
| Q2 25 | $156.9M | $77.2M | ||
| Q1 25 | $103.7M | $-80.7M | ||
| Q4 24 | $349.4M | $128.4M | ||
| Q3 24 | $-159.4M | $91.9M | ||
| Q2 24 | $58.5M | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | — | $190.7M | ||
| Q3 25 | $134.6M | $77.0M | ||
| Q2 25 | $128.2M | $46.9M | ||
| Q1 25 | $76.8M | $-106.8M | ||
| Q4 24 | $265.8M | $94.5M | ||
| Q3 24 | $-179.0M | $67.0M | ||
| Q2 24 | $41.6M | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | 11.0% | 10.4% | ||
| Q2 25 | 11.4% | 6.7% | ||
| Q1 25 | 7.2% | -15.8% | ||
| Q4 24 | 23.6% | 13.2% | ||
| Q3 24 | -19.0% | 9.9% | ||
| Q2 24 | 4.6% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | — | 4.6% | ||
| Q3 25 | 3.3% | 3.3% | ||
| Q2 25 | 2.6% | 4.3% | ||
| Q1 25 | 2.5% | 3.9% | ||
| Q4 24 | 7.4% | 4.7% | ||
| Q3 24 | 2.1% | 3.7% | ||
| Q2 24 | 1.9% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.24× | ||
| Q3 25 | 3.47× | 1.42× | ||
| Q2 25 | 17.50× | 1.42× | ||
| Q1 25 | 2.33× | -1.60× | ||
| Q4 24 | 9.44× | 2.29× | ||
| Q3 24 | -11.20× | 2.23× | ||
| Q2 24 | — | 1.50× |
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% |
OII
Segment breakdown not available.
