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Side-by-side financial comparison of CIENA CORP (CIEN) and Insulet Corporation (PODD). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $783.7M, roughly 1.6× Insulet Corporation). Insulet Corporation runs the higher net margin — 13.0% vs 4.1%, a 8.8% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $48.2M). Over the past eight quarters, Insulet Corporation's revenue compounded faster (33.2% 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).
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy . The device configuration may vary depending on design. A traditional pump includes:the pump a disposable reservoir for insulin a disposable infusion set, including a cannula for subcutaneous insertion and a tubing system to connect the insulin reservoir to the cannula.
CIEN vs PODD — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $783.7M |
| Net Profit | $50.3M | $101.6M |
| Gross Margin | 41.3% | 72.6% |
| Operating Margin | 6.0% | 18.7% |
| Net Margin | 4.1% | 13.0% |
| Revenue YoY | — | 31.2% |
| Net Profit YoY | — | 0.9% |
| EPS (diluted) | $0.35 | $1.42 |
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 | — | $783.7M | ||
| Q3 25 | $1.2B | $706.3M | ||
| Q2 25 | $1.1B | $649.1M | ||
| Q1 25 | $1.1B | $569.0M | ||
| Q4 24 | $1.1B | $597.5M | ||
| Q3 24 | $942.3M | $543.9M | ||
| Q2 24 | $910.8M | $488.5M | ||
| Q1 24 | $1.0B | $441.7M |
| Q4 25 | — | $101.6M | ||
| Q3 25 | $50.3M | $87.6M | ||
| Q2 25 | $9.0M | $22.5M | ||
| Q1 25 | $44.6M | $35.4M | ||
| Q4 24 | $37.0M | $100.7M | ||
| Q3 24 | $14.2M | $77.5M | ||
| Q2 24 | $-16.8M | $188.6M | ||
| Q1 24 | $49.5M | $51.5M |
| Q4 25 | — | 72.6% | ||
| Q3 25 | 41.3% | 72.2% | ||
| Q2 25 | 40.2% | 69.7% | ||
| Q1 25 | 44.0% | 71.9% | ||
| Q4 24 | 40.9% | 72.1% | ||
| Q3 24 | 42.9% | 69.3% | ||
| Q2 24 | 42.7% | 67.7% | ||
| Q1 24 | 45.0% | 69.5% |
| Q4 25 | — | 18.7% | ||
| Q3 25 | 6.0% | 16.7% | ||
| Q2 25 | 2.9% | 18.7% | ||
| Q1 25 | 7.5% | 15.6% | ||
| Q4 24 | 5.3% | 18.3% | ||
| Q3 24 | 2.8% | 16.2% | ||
| Q2 24 | -0.4% | 11.2% | ||
| Q1 24 | 8.2% | 12.9% |
| Q4 25 | — | 13.0% | ||
| Q3 25 | 4.1% | 12.4% | ||
| Q2 25 | 0.8% | 3.5% | ||
| Q1 25 | 4.2% | 6.2% | ||
| Q4 24 | 3.3% | 16.9% | ||
| Q3 24 | 1.5% | 14.2% | ||
| Q2 24 | -1.8% | 38.6% | ||
| Q1 24 | 4.8% | 11.7% |
| Q4 25 | — | $1.42 | ||
| Q3 25 | $0.35 | $1.24 | ||
| Q2 25 | $0.06 | $0.32 | ||
| Q1 25 | $0.31 | $0.50 | ||
| Q4 24 | $0.26 | $1.38 | ||
| Q3 24 | $0.10 | $1.08 | ||
| Q2 24 | $-0.12 | $2.59 | ||
| Q1 24 | $0.34 | $0.73 |
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 | — | $930.8M |
| Stockholders' EquityBook value | $2.8B | $1.5B |
| Total Assets | $5.7B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.61× |
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 | — | $930.8M | ||
| Q3 25 | — | $934.9M | ||
| Q2 25 | — | $939.0M | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.8B | $1.4B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.8B | $1.3B | ||
| Q4 24 | $2.8B | $1.2B | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $2.9B | $998.4M | ||
| Q1 24 | $2.9B | $790.7M |
| Q4 25 | — | $3.2B | ||
| Q3 25 | $5.7B | $3.0B | ||
| Q2 25 | $5.7B | $3.5B | ||
| Q1 25 | $5.6B | $3.5B | ||
| Q4 24 | $5.6B | $3.1B | ||
| Q3 24 | $5.6B | $3.0B | ||
| Q2 24 | $5.6B | $2.9B | ||
| Q1 24 | $5.6B | $2.6B |
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.68× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.72× |
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 | $183.3M |
| Free Cash FlowOCF − Capex | $134.6M | $48.2M |
| FCF MarginFCF / Revenue | 11.0% | 6.2% |
| Capex IntensityCapex / Revenue | 3.3% | 17.2% |
| Cash ConversionOCF / Net Profit | 3.47× | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $377.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $183.3M | ||
| Q3 25 | $174.3M | $125.7M | ||
| Q2 25 | $156.9M | $196.5M | ||
| Q1 25 | $103.7M | $63.8M | ||
| Q4 24 | $349.4M | $147.7M | ||
| Q3 24 | $-159.4M | $98.5M | ||
| Q2 24 | $58.5M | $96.5M | ||
| Q1 24 | $266.1M | $87.6M |
| Q4 25 | — | $48.2M | ||
| Q3 25 | $134.6M | $100.1M | ||
| Q2 25 | $128.2M | $177.9M | ||
| Q1 25 | $76.8M | $51.5M | ||
| Q4 24 | $265.8M | $94.1M | ||
| Q3 24 | $-179.0M | $71.8M | ||
| Q2 24 | $41.6M | $74.0M | ||
| Q1 24 | $249.5M | $65.5M |
| Q4 25 | — | 6.2% | ||
| Q3 25 | 11.0% | 14.2% | ||
| Q2 25 | 11.4% | 27.4% | ||
| Q1 25 | 7.2% | 9.1% | ||
| Q4 24 | 23.6% | 15.7% | ||
| Q3 24 | -19.0% | 13.2% | ||
| Q2 24 | 4.6% | 15.1% | ||
| Q1 24 | 24.0% | 14.8% |
| Q4 25 | — | 17.2% | ||
| Q3 25 | 3.3% | 3.6% | ||
| Q2 25 | 2.6% | 2.9% | ||
| Q1 25 | 2.5% | 2.2% | ||
| Q4 24 | 7.4% | 9.0% | ||
| Q3 24 | 2.1% | 4.9% | ||
| Q2 24 | 1.9% | 4.6% | ||
| Q1 24 | 1.6% | 5.0% |
| Q4 25 | — | 1.80× | ||
| Q3 25 | 3.47× | 1.43× | ||
| Q2 25 | 17.50× | 8.73× | ||
| Q1 25 | 2.33× | 1.80× | ||
| Q4 24 | 9.44× | 1.47× | ||
| Q3 24 | -11.20× | 1.27× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | 5.37× | 1.70× |
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% |
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
