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Side-by-side financial comparison of CIENA CORP (CIEN) and Primoris Services Corp (PRIM). Click either name above to swap in a different company.
Primoris Services Corp is the larger business by last-quarter revenue ($1.9B vs $1.2B, roughly 1.5× CIENA CORP). CIENA CORP runs the higher net margin — 4.1% vs 2.8%, a 1.3% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $121.1M). Over the past eight quarters, Primoris Services Corp's revenue compounded faster (14.7% 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).
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
CIEN vs PRIM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.9B |
| Net Profit | $50.3M | $51.7M |
| Gross Margin | 41.3% | 9.4% |
| Operating Margin | 6.0% | 4.2% |
| Net Margin | 4.1% | 2.8% |
| Revenue YoY | — | 6.7% |
| Net Profit YoY | — | -4.2% |
| EPS (diluted) | $0.35 | $0.94 |
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 | — | $1.9B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $942.3M | $1.6B | ||
| Q2 24 | $910.8M | $1.6B | ||
| Q1 24 | $1.0B | $1.4B |
| Q4 25 | — | $51.7M | ||
| Q3 25 | $50.3M | $94.6M | ||
| Q2 25 | $9.0M | $84.3M | ||
| Q1 25 | $44.6M | $44.2M | ||
| Q4 24 | $37.0M | $54.0M | ||
| Q3 24 | $14.2M | $58.4M | ||
| Q2 24 | $-16.8M | $49.5M | ||
| Q1 24 | $49.5M | $18.9M |
| Q4 25 | — | 9.4% | ||
| Q3 25 | 41.3% | 10.8% | ||
| Q2 25 | 40.2% | 12.3% | ||
| Q1 25 | 44.0% | 10.4% | ||
| Q4 24 | 40.9% | 10.6% | ||
| Q3 24 | 42.9% | 12.0% | ||
| Q2 24 | 42.7% | 11.9% | ||
| Q1 24 | 45.0% | 9.4% |
| Q4 25 | — | 4.2% | ||
| Q3 25 | 6.0% | 6.3% | ||
| Q2 25 | 2.9% | 6.7% | ||
| Q1 25 | 7.5% | 4.3% | ||
| Q4 24 | 5.3% | 5.0% | ||
| Q3 24 | 2.8% | 6.0% | ||
| Q2 24 | -0.4% | 5.5% | ||
| Q1 24 | 8.2% | 3.1% |
| Q4 25 | — | 2.8% | ||
| Q3 25 | 4.1% | 4.3% | ||
| Q2 25 | 0.8% | 4.5% | ||
| Q1 25 | 4.2% | 2.7% | ||
| Q4 24 | 3.3% | 3.1% | ||
| Q3 24 | 1.5% | 3.5% | ||
| Q2 24 | -1.8% | 3.2% | ||
| Q1 24 | 4.8% | 1.3% |
| Q4 25 | — | $0.94 | ||
| Q3 25 | $0.35 | $1.73 | ||
| Q2 25 | $0.06 | $1.54 | ||
| Q1 25 | $0.31 | $0.81 | ||
| Q4 24 | $0.26 | $0.98 | ||
| Q3 24 | $0.10 | $1.07 | ||
| Q2 24 | $-0.12 | $0.91 | ||
| Q1 24 | $0.34 | $0.35 |
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 | $535.5M |
| Total DebtLower is stronger | — | $469.9M |
| Stockholders' EquityBook value | $2.8B | $1.7B |
| Total Assets | $5.7B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $535.5M | ||
| Q3 25 | $1.3B | $431.4M | ||
| Q2 25 | $1.3B | $390.3M | ||
| Q1 25 | $1.2B | $351.6M | ||
| Q4 24 | $1.3B | $455.8M | ||
| Q3 24 | $1.1B | $352.7M | ||
| Q2 24 | $1.3B | $207.4M | ||
| Q1 24 | $1.4B | $177.6M |
| Q4 25 | — | $469.9M | ||
| Q3 25 | — | $486.0M | ||
| Q2 25 | — | $603.1M | ||
| Q1 25 | — | $612.0M | ||
| Q4 24 | — | $734.8M | ||
| Q3 24 | — | $903.7M | ||
| Q2 24 | — | $933.0M | ||
| Q1 24 | — | $951.7M |
| Q4 25 | — | $1.7B | ||
| Q3 25 | $2.8B | $1.6B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.8B | $1.4B | ||
| Q4 24 | $2.8B | $1.4B | ||
| Q3 24 | $2.9B | $1.4B | ||
| Q2 24 | $2.9B | $1.3B | ||
| Q1 24 | $2.9B | $1.2B |
| Q4 25 | — | $4.4B | ||
| Q3 25 | $5.7B | $4.6B | ||
| Q2 25 | $5.7B | $4.5B | ||
| Q1 25 | $5.6B | $4.2B | ||
| Q4 24 | $5.6B | $4.2B | ||
| Q3 24 | $5.6B | $4.2B | ||
| Q2 24 | $5.6B | $4.0B | ||
| Q1 24 | $5.6B | $4.0B |
| Q4 25 | — | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.76× |
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 | $142.9M |
| Free Cash FlowOCF − Capex | $134.6M | $121.1M |
| FCF MarginFCF / Revenue | 11.0% | 6.5% |
| Capex IntensityCapex / Revenue | 3.3% | 1.2% |
| Cash ConversionOCF / Net Profit | 3.47× | 2.76× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $340.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $142.9M | ||
| Q3 25 | $174.3M | $182.9M | ||
| Q2 25 | $156.9M | $78.5M | ||
| Q1 25 | $103.7M | $66.2M | ||
| Q4 24 | $349.4M | $298.3M | ||
| Q3 24 | $-159.4M | $222.5M | ||
| Q2 24 | $58.5M | $16.1M | ||
| Q1 24 | $266.1M | $-28.5M |
| Q4 25 | — | $121.1M | ||
| Q3 25 | $134.6M | $148.4M | ||
| Q2 25 | $128.2M | $45.3M | ||
| Q1 25 | $76.8M | $25.6M | ||
| Q4 24 | $265.8M | $270.0M | ||
| Q3 24 | $-179.0M | $158.8M | ||
| Q2 24 | $41.6M | $-8.1M | ||
| Q1 24 | $249.5M | $-38.9M |
| Q4 25 | — | 6.5% | ||
| Q3 25 | 11.0% | 6.8% | ||
| Q2 25 | 11.4% | 2.4% | ||
| Q1 25 | 7.2% | 1.6% | ||
| Q4 24 | 23.6% | 15.5% | ||
| Q3 24 | -19.0% | 9.6% | ||
| Q2 24 | 4.6% | -0.5% | ||
| Q1 24 | 24.0% | -2.8% |
| Q4 25 | — | 1.2% | ||
| Q3 25 | 3.3% | 1.6% | ||
| Q2 25 | 2.6% | 1.8% | ||
| Q1 25 | 2.5% | 2.5% | ||
| Q4 24 | 7.4% | 1.6% | ||
| Q3 24 | 2.1% | 3.9% | ||
| Q2 24 | 1.9% | 1.5% | ||
| Q1 24 | 1.6% | 0.7% |
| Q4 25 | — | 2.76× | ||
| Q3 25 | 3.47× | 1.93× | ||
| Q2 25 | 17.50× | 0.93× | ||
| Q1 25 | 2.33× | 1.50× | ||
| Q4 24 | 9.44× | 5.53× | ||
| Q3 24 | -11.20× | 3.81× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | 5.37× | -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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
