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Side-by-side financial comparison of CIENA CORP (CIEN) and OPEN TEXT CORP (OTEX). Click either name above to swap in a different company.
OPEN TEXT CORP is the larger business by last-quarter revenue ($1.3B vs $1.2B, roughly 1.1× CIENA CORP). OPEN TEXT CORP runs the higher net margin — 12.7% vs 4.1%, a 8.5% gap on every dollar of revenue. OPEN TEXT CORP produced more free cash flow last quarter ($279.4M vs $134.6M). Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% CAGR vs -4.3%).
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).
Open Text Corporation is a global software company that develops and sells information management software.
CIEN vs OTEX — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.3B |
| Net Profit | $50.3M | $168.1M |
| Gross Margin | 41.3% | 74.0% |
| Operating Margin | 6.0% | 22.0% |
| Net Margin | 4.1% | 12.7% |
| Revenue YoY | — | -0.6% |
| Net Profit YoY | — | -26.9% |
| EPS (diluted) | $0.35 | $0.66 |
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 | — | $1.3B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $942.3M | $1.3B | ||
| Q2 24 | $910.8M | $1.4B | ||
| Q1 24 | $1.0B | $1.4B |
| Q4 25 | — | $168.1M | ||
| Q3 25 | $50.3M | $146.6M | ||
| Q2 25 | $9.0M | $28.8M | ||
| Q1 25 | $44.6M | $92.8M | ||
| Q4 24 | $37.0M | $229.9M | ||
| Q3 24 | $14.2M | $84.4M | ||
| Q2 24 | $-16.8M | $248.2M | ||
| Q1 24 | $49.5M | $98.3M |
| Q4 25 | — | 74.0% | ||
| Q3 25 | 41.3% | 72.8% | ||
| Q2 25 | 40.2% | 72.3% | ||
| Q1 25 | 44.0% | 71.6% | ||
| Q4 24 | 40.9% | 73.3% | ||
| Q3 24 | 42.9% | 71.7% | ||
| Q2 24 | 42.7% | 72.5% | ||
| Q1 24 | 45.0% | 73.0% |
| Q4 25 | — | 22.0% | ||
| Q3 25 | 6.0% | 21.0% | ||
| Q2 25 | 2.9% | 13.9% | ||
| Q1 25 | 7.5% | 16.7% | ||
| Q4 24 | 5.3% | 22.2% | ||
| Q3 24 | 2.8% | 16.3% | ||
| Q2 24 | -0.4% | 14.2% | ||
| Q1 24 | 8.2% | 15.7% |
| Q4 25 | — | 12.7% | ||
| Q3 25 | 4.1% | 11.4% | ||
| Q2 25 | 0.8% | 2.2% | ||
| Q1 25 | 4.2% | 7.4% | ||
| Q4 24 | 3.3% | 17.2% | ||
| Q3 24 | 1.5% | 6.6% | ||
| Q2 24 | -1.8% | 18.2% | ||
| Q1 24 | 4.8% | 6.8% |
| Q4 25 | — | $0.66 | ||
| Q3 25 | $0.35 | $0.58 | ||
| Q2 25 | $0.06 | $0.11 | ||
| Q1 25 | $0.31 | $0.35 | ||
| Q4 24 | $0.26 | $0.87 | ||
| Q3 24 | $0.10 | $0.32 | ||
| Q2 24 | $-0.12 | $0.91 | ||
| Q1 24 | $0.34 | $0.36 |
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 | $1.3B |
| Total DebtLower is stronger | — | $6.4B |
| Stockholders' EquityBook value | $2.8B | $4.0B |
| Total Assets | $5.7B | $13.6B |
| Debt / EquityLower = less leverage | — | 1.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.3B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $1.4B | $1.1B |
| Q4 25 | — | $6.4B | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | — | $8.4B |
| Q4 25 | — | $4.0B | ||
| Q3 25 | $2.8B | $4.0B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.8B | $4.1B | ||
| Q4 24 | $2.8B | $4.2B | ||
| Q3 24 | $2.9B | $4.1B | ||
| Q2 24 | $2.9B | $4.2B | ||
| Q1 24 | $2.9B | $4.1B |
| Q4 25 | — | $13.6B | ||
| Q3 25 | $5.7B | $13.5B | ||
| Q2 25 | $5.7B | $13.8B | ||
| Q1 25 | $5.6B | $13.8B | ||
| Q4 24 | $5.6B | $13.7B | ||
| Q3 24 | $5.6B | $13.8B | ||
| Q2 24 | $5.6B | $14.2B | ||
| Q1 24 | $5.6B | $16.4B |
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 2.02× |
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 | $318.7M |
| Free Cash FlowOCF − Capex | $134.6M | $279.4M |
| FCF MarginFCF / Revenue | 11.0% | 21.1% |
| Capex IntensityCapex / Revenue | 3.3% | 3.0% |
| Cash ConversionOCF / Net Profit | 3.47× | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $878.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $318.7M | ||
| Q3 25 | $174.3M | $147.8M | ||
| Q2 25 | $156.9M | $158.2M | ||
| Q1 25 | $103.7M | $402.2M | ||
| Q4 24 | $349.4M | $348.0M | ||
| Q3 24 | $-159.4M | $-77.8M | ||
| Q2 24 | $58.5M | $185.2M | ||
| Q1 24 | $266.1M | $384.7M |
| Q4 25 | — | $279.4M | ||
| Q3 25 | $134.6M | $101.2M | ||
| Q2 25 | $128.2M | $124.0M | ||
| Q1 25 | $76.8M | $373.8M | ||
| Q4 24 | $265.8M | $306.7M | ||
| Q3 24 | $-179.0M | $-117.1M | ||
| Q2 24 | $41.6M | $145.2M | ||
| Q1 24 | $249.5M | $348.2M |
| Q4 25 | — | 21.1% | ||
| Q3 25 | 11.0% | 7.9% | ||
| Q2 25 | 11.4% | 9.5% | ||
| Q1 25 | 7.2% | 29.8% | ||
| Q4 24 | 23.6% | 23.0% | ||
| Q3 24 | -19.0% | -9.2% | ||
| Q2 24 | 4.6% | 10.7% | ||
| Q1 24 | 24.0% | 24.1% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | 3.3% | 3.6% | ||
| Q2 25 | 2.6% | 2.6% | ||
| Q1 25 | 2.5% | 2.3% | ||
| Q4 24 | 7.4% | 3.1% | ||
| Q3 24 | 2.1% | 3.1% | ||
| Q2 24 | 1.9% | 2.9% | ||
| Q1 24 | 1.6% | 2.5% |
| Q4 25 | — | 1.90× | ||
| Q3 25 | 3.47× | 1.01× | ||
| Q2 25 | 17.50× | 5.49× | ||
| Q1 25 | 2.33× | 4.33× | ||
| Q4 24 | 9.44× | 1.51× | ||
| Q3 24 | -11.20× | -0.92× | ||
| Q2 24 | — | 0.75× | ||
| Q1 24 | 5.37× | 3.91× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
