vs
Side-by-side financial comparison of CIENA CORP (CIEN) and SEALED AIR CORP (SEE). Click either name above to swap in a different company.
SEALED AIR CORP is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.1× CIENA CORP). CIENA CORP runs the higher net margin — 4.1% vs 3.1%, a 1.0% gap on every dollar of revenue. SEALED AIR CORP produced more free cash flow last quarter ($257.7M vs $134.6M). Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% CAGR vs 2.7%).
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).
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
CIEN vs SEE — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.4B |
| Net Profit | $50.3M | $43.8M |
| Gross Margin | 41.3% | 28.6% |
| Operating Margin | 6.0% | 11.4% |
| Net Margin | 4.1% | 3.1% |
| Revenue YoY | — | 2.6% |
| Net Profit YoY | — | 700.0% |
| EPS (diluted) | $0.35 | $0.30 |
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 | — | $1.4B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $942.3M | $1.3B | ||
| Q2 24 | $910.8M | $1.3B | ||
| Q1 24 | $1.0B | $1.3B |
| Q4 25 | — | $43.8M | ||
| Q3 25 | $50.3M | $255.1M | ||
| Q2 25 | $9.0M | $93.1M | ||
| Q1 25 | $44.6M | $113.5M | ||
| Q4 24 | $37.0M | $-7.3M | ||
| Q3 24 | $14.2M | $91.7M | ||
| Q2 24 | $-16.8M | $98.3M | ||
| Q1 24 | $49.5M | $82.0M |
| Q4 25 | — | 28.6% | ||
| Q3 25 | 41.3% | 29.8% | ||
| Q2 25 | 40.2% | 30.7% | ||
| Q1 25 | 44.0% | 30.9% | ||
| Q4 24 | 40.9% | 30.0% | ||
| Q3 24 | 42.9% | 30.1% | ||
| Q2 24 | 42.7% | 31.2% | ||
| Q1 24 | 45.0% | 30.3% |
| Q4 25 | — | 11.4% | ||
| Q3 25 | 6.0% | 13.8% | ||
| Q2 25 | 2.9% | 15.0% | ||
| Q1 25 | 7.5% | 14.5% | ||
| Q4 24 | 5.3% | 11.7% | ||
| Q3 24 | 2.8% | 13.9% | ||
| Q2 24 | -0.4% | 15.4% | ||
| Q1 24 | 8.2% | 14.0% |
| Q4 25 | — | 3.1% | ||
| Q3 25 | 4.1% | 19.0% | ||
| Q2 25 | 0.8% | 7.0% | ||
| Q1 25 | 4.2% | 9.0% | ||
| Q4 24 | 3.3% | -0.5% | ||
| Q3 24 | 1.5% | 6.9% | ||
| Q2 24 | -1.8% | 7.4% | ||
| Q1 24 | 4.8% | 6.2% |
| Q4 25 | — | $0.30 | ||
| Q3 25 | $0.35 | $1.73 | ||
| Q2 25 | $0.06 | $0.63 | ||
| Q1 25 | $0.31 | $0.77 | ||
| Q4 24 | $0.26 | $-0.05 | ||
| Q3 24 | $0.10 | $0.63 | ||
| Q2 24 | $-0.12 | $0.67 | ||
| Q1 24 | $0.34 | $0.56 |
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 | $344.0M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $2.8B | $1.2B |
| Total Assets | $5.7B | $7.0B |
| Debt / EquityLower = less leverage | — | 2.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $344.0M | ||
| Q3 25 | $1.3B | $282.5M | ||
| Q2 25 | $1.3B | $354.4M | ||
| Q1 25 | $1.2B | $335.2M | ||
| Q4 24 | $1.3B | $371.8M | ||
| Q3 24 | $1.1B | $386.0M | ||
| Q2 24 | $1.3B | $388.6M | ||
| Q1 24 | $1.4B | $352.8M |
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
| Q4 25 | — | $1.2B | ||
| Q3 25 | $2.8B | $1.2B | ||
| Q2 25 | $2.8B | $953.1M | ||
| Q1 25 | $2.8B | $797.9M | ||
| Q4 24 | $2.8B | $624.5M | ||
| Q3 24 | $2.9B | $771.2M | ||
| Q2 24 | $2.9B | $650.1M | ||
| Q1 24 | $2.9B | $598.3M |
| Q4 25 | — | $7.0B | ||
| Q3 25 | $5.7B | $7.1B | ||
| Q2 25 | $5.7B | $7.2B | ||
| Q1 25 | $5.6B | $7.0B | ||
| Q4 24 | $5.6B | $7.0B | ||
| Q3 24 | $5.6B | $7.3B | ||
| Q2 24 | $5.6B | $7.3B | ||
| Q1 24 | $5.6B | $7.2B |
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $293.6M |
| Free Cash FlowOCF − Capex | $134.6M | $257.7M |
| FCF MarginFCF / Revenue | 11.0% | 18.5% |
| Capex IntensityCapex / Revenue | 3.3% | 2.6% |
| Cash ConversionOCF / Net Profit | 3.47× | 6.70× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $458.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $293.6M | ||
| Q3 25 | $174.3M | $165.9M | ||
| Q2 25 | $156.9M | $136.6M | ||
| Q1 25 | $103.7M | $31.9M | ||
| Q4 24 | $349.4M | $244.2M | ||
| Q3 24 | $-159.4M | $170.5M | ||
| Q2 24 | $58.5M | $188.2M | ||
| Q1 24 | $266.1M | $125.1M |
| Q4 25 | — | $257.7M | ||
| Q3 25 | $134.6M | $119.6M | ||
| Q2 25 | $128.2M | $93.2M | ||
| Q1 25 | $76.8M | $-12.0M | ||
| Q4 24 | $265.8M | $185.1M | ||
| Q3 24 | $-179.0M | $115.2M | ||
| Q2 24 | $41.6M | $129.5M | ||
| Q1 24 | $249.5M | $78.0M |
| Q4 25 | — | 18.5% | ||
| Q3 25 | 11.0% | 8.9% | ||
| Q2 25 | 11.4% | 7.0% | ||
| Q1 25 | 7.2% | -0.9% | ||
| Q4 24 | 23.6% | 13.6% | ||
| Q3 24 | -19.0% | 8.6% | ||
| Q2 24 | 4.6% | 9.7% | ||
| Q1 24 | 24.0% | 5.9% |
| Q4 25 | — | 2.6% | ||
| Q3 25 | 3.3% | 3.4% | ||
| Q2 25 | 2.6% | 3.3% | ||
| Q1 25 | 2.5% | 3.5% | ||
| Q4 24 | 7.4% | 4.4% | ||
| Q3 24 | 2.1% | 4.1% | ||
| Q2 24 | 1.9% | 4.4% | ||
| Q1 24 | 1.6% | 3.6% |
| Q4 25 | — | 6.70× | ||
| Q3 25 | 3.47× | 0.65× | ||
| Q2 25 | 17.50× | 1.47× | ||
| Q1 25 | 2.33× | 0.28× | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | -11.20× | 1.86× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | 5.37× | 1.53× |
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
