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Side-by-side financial comparison of CIENA CORP (CIEN) and PERRIGO Co plc (PRGO). 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× PERRIGO Co plc). CIENA CORP runs the higher net margin — 4.1% vs -127.8%, a 131.9% gap on every dollar of revenue. PERRIGO Co plc produced more free cash flow last quarter ($148.6M vs $134.6M). Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% CAGR vs 1.3%).
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).
Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters ...
CIEN vs PRGO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.1B |
| Net Profit | $50.3M | $-1.4B |
| Gross Margin | 41.3% | 32.6% |
| Operating Margin | 6.0% | -116.0% |
| Net Margin | 4.1% | -127.8% |
| Revenue YoY | — | -2.5% |
| Net Profit YoY | — | -3093.9% |
| EPS (diluted) | $0.35 | $-10.23 |
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 | $1.0B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $942.3M | $1.1B | ||
| Q2 24 | $910.8M | $1.1B | ||
| Q1 24 | $1.0B | $1.1B |
| Q4 25 | — | $-1.4B | ||
| Q3 25 | $50.3M | $7.5M | ||
| Q2 25 | $9.0M | $-8.4M | ||
| Q1 25 | $44.6M | $-6.4M | ||
| Q4 24 | $37.0M | $-44.4M | ||
| Q3 24 | $14.2M | $-21.0M | ||
| Q2 24 | $-16.8M | $-108.4M | ||
| Q1 24 | $49.5M | $2.0M |
| Q4 25 | — | 32.6% | ||
| Q3 25 | 41.3% | 36.1% | ||
| Q2 25 | 40.2% | 34.4% | ||
| Q1 25 | 44.0% | 37.6% | ||
| Q4 24 | 40.9% | 33.9% | ||
| Q3 24 | 42.9% | 37.2% | ||
| Q2 24 | 42.7% | 37.0% | ||
| Q1 24 | 45.0% | 33.1% |
| Q4 25 | — | -116.0% | ||
| Q3 25 | 6.0% | 7.0% | ||
| Q2 25 | 2.9% | 4.3% | ||
| Q1 25 | 7.5% | 4.5% | ||
| Q4 24 | 5.3% | 10.0% | ||
| Q3 24 | 2.8% | 7.4% | ||
| Q2 24 | -0.4% | -2.5% | ||
| Q1 24 | 8.2% | -5.1% |
| Q4 25 | — | -127.8% | ||
| Q3 25 | 4.1% | 0.7% | ||
| Q2 25 | 0.8% | -0.8% | ||
| Q1 25 | 4.2% | -0.6% | ||
| Q4 24 | 3.3% | -3.9% | ||
| Q3 24 | 1.5% | -1.9% | ||
| Q2 24 | -1.8% | -10.2% | ||
| Q1 24 | 4.8% | 0.2% |
| Q4 25 | — | $-10.23 | ||
| Q3 25 | $0.35 | $0.05 | ||
| Q2 25 | $0.06 | $-0.06 | ||
| Q1 25 | $0.31 | $-0.05 | ||
| Q4 24 | $0.26 | $-0.32 | ||
| Q3 24 | $0.10 | $-0.15 | ||
| Q2 24 | $-0.12 | $-0.79 | ||
| Q1 24 | $0.34 | $0.01 |
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 | $2.9B |
| Total Assets | $5.7B | $8.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $1.3B | $432.1M | ||
| Q2 25 | $1.3B | $454.2M | ||
| Q1 25 | $1.2B | $409.9M | ||
| Q4 24 | $1.3B | $558.8M | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.3B | $542.8M | ||
| Q1 24 | $1.4B | $658.5M |
| Q4 25 | — | $2.9B | ||
| Q3 25 | $2.8B | $4.4B | ||
| Q2 25 | $2.8B | $4.5B | ||
| Q1 25 | $2.8B | $4.4B | ||
| Q4 24 | $2.8B | $4.3B | ||
| Q3 24 | $2.9B | $4.6B | ||
| Q2 24 | $2.9B | $4.5B | ||
| Q1 24 | $2.9B | $4.7B |
| Q4 25 | — | $8.5B | ||
| Q3 25 | $5.7B | $10.1B | ||
| Q2 25 | $5.7B | $10.1B | ||
| Q1 25 | $5.6B | $9.8B | ||
| Q4 24 | $5.6B | $9.6B | ||
| Q3 24 | $5.6B | $11.2B | ||
| Q2 24 | $5.6B | $10.4B | ||
| Q1 24 | $5.6B | $10.6B |
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 | $175.4M |
| Free Cash FlowOCF − Capex | $134.6M | $148.6M |
| FCF MarginFCF / Revenue | 11.0% | 13.4% |
| Capex IntensityCapex / Revenue | 3.3% | 2.4% |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $145.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $175.4M | ||
| Q3 25 | $174.3M | $51.7M | ||
| Q2 25 | $156.9M | $75.9M | ||
| Q1 25 | $103.7M | $-64.5M | ||
| Q4 24 | $349.4M | $312.6M | ||
| Q3 24 | $-159.4M | $42.2M | ||
| Q2 24 | $58.5M | $9.5M | ||
| Q1 24 | $266.1M | $-1.4M |
| Q4 25 | — | $148.6M | ||
| Q3 25 | $134.6M | $29.8M | ||
| Q2 25 | $128.2M | $56.7M | ||
| Q1 25 | $76.8M | $-90.0M | ||
| Q4 24 | $265.8M | $274.9M | ||
| Q3 24 | $-179.0M | $15.1M | ||
| Q2 24 | $41.6M | $-18.9M | ||
| Q1 24 | $249.5M | $-26.5M |
| Q4 25 | — | 13.4% | ||
| Q3 25 | 11.0% | 2.9% | ||
| Q2 25 | 11.4% | 5.4% | ||
| Q1 25 | 7.2% | -8.6% | ||
| Q4 24 | 23.6% | 24.2% | ||
| Q3 24 | -19.0% | 1.4% | ||
| Q2 24 | 4.6% | -1.8% | ||
| Q1 24 | 24.0% | -2.4% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | 3.3% | 2.1% | ||
| Q2 25 | 2.6% | 1.8% | ||
| Q1 25 | 2.5% | 2.4% | ||
| Q4 24 | 7.4% | 3.3% | ||
| Q3 24 | 2.1% | 2.5% | ||
| Q2 24 | 1.9% | 2.7% | ||
| Q1 24 | 1.6% | 2.3% |
| Q4 25 | — | — | ||
| Q3 25 | 3.47× | 6.89× | ||
| Q2 25 | 17.50× | — | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | -11.20× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.37× | -0.70× |
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% |
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
