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Side-by-side financial comparison of CIENA CORP (CIEN) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
MARRIOTT VACATIONS WORLDWIDE Corp is the larger business by last-quarter revenue ($1.2B vs $1.2B, roughly 1.0× CIENA CORP). CIENA CORP runs the higher net margin — 4.1% vs -35.0%, a 39.1% gap on every dollar of revenue. CIENA CORP produced more free cash flow last quarter ($134.6M vs $-6.0M). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% 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).
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
CIEN vs VAC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.2B |
| Net Profit | $50.3M | $-431.0M |
| Gross Margin | 41.3% | — |
| Operating Margin | 6.0% | — |
| Net Margin | 4.1% | -35.0% |
| Revenue YoY | — | -0.7% |
| Net Profit YoY | — | -962.0% |
| EPS (diluted) | $0.35 | $-12.00 |
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 | — | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $942.3M | $1.2B | ||
| Q2 24 | $910.8M | $1.1B | ||
| Q1 24 | $1.0B | $1.1B |
| Q4 25 | — | $-431.0M | ||
| Q3 25 | $50.3M | $-2.0M | ||
| Q2 25 | $9.0M | $69.0M | ||
| Q1 25 | $44.6M | $56.0M | ||
| Q4 24 | $37.0M | $50.0M | ||
| Q3 24 | $14.2M | $84.0M | ||
| Q2 24 | $-16.8M | $37.0M | ||
| Q1 24 | $49.5M | $47.0M |
| Q4 25 | — | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 40.2% | — | ||
| Q1 25 | 44.0% | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.9% | — | ||
| Q2 24 | 42.7% | — | ||
| Q1 24 | 45.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | 6.0% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | -0.4% | — | ||
| Q1 24 | 8.2% | — |
| Q4 25 | — | -35.0% | ||
| Q3 25 | 4.1% | -0.2% | ||
| Q2 25 | 0.8% | 6.0% | ||
| Q1 25 | 4.2% | 5.0% | ||
| Q4 24 | 3.3% | 4.0% | ||
| Q3 24 | 1.5% | 6.9% | ||
| Q2 24 | -1.8% | 3.5% | ||
| Q1 24 | 4.8% | 4.2% |
| Q4 25 | — | $-12.00 | ||
| Q3 25 | $0.35 | $-0.07 | ||
| Q2 25 | $0.06 | $1.77 | ||
| Q1 25 | $0.31 | $1.46 | ||
| Q4 24 | $0.26 | $1.29 | ||
| Q3 24 | $0.10 | $2.12 | ||
| Q2 24 | $-0.12 | $0.98 | ||
| Q1 24 | $0.34 | $1.22 |
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 | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8B | $2.0B |
| Total Assets | $5.7B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $406.0M | ||
| Q3 25 | $1.3B | $474.0M | ||
| Q2 25 | $1.3B | $205.0M | ||
| Q1 25 | $1.2B | $196.0M | ||
| Q4 24 | $1.3B | $197.0M | ||
| Q3 24 | $1.1B | $197.0M | ||
| Q2 24 | $1.3B | $206.0M | ||
| Q1 24 | $1.4B | $237.0M |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $2.8B | $2.5B | ||
| Q2 25 | $2.8B | $2.5B | ||
| Q1 25 | $2.8B | $2.4B | ||
| Q4 24 | $2.8B | $2.4B | ||
| Q3 24 | $2.9B | $2.4B | ||
| Q2 24 | $2.9B | $2.4B | ||
| Q1 24 | $2.9B | $2.4B |
| Q4 25 | — | $9.8B | ||
| Q3 25 | $5.7B | $10.1B | ||
| Q2 25 | $5.7B | $9.9B | ||
| Q1 25 | $5.6B | $9.9B | ||
| Q4 24 | $5.6B | $9.8B | ||
| Q3 24 | $5.6B | $9.7B | ||
| Q2 24 | $5.6B | $9.6B | ||
| Q1 24 | $5.6B | $9.9B |
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 | $6.0M |
| Free Cash FlowOCF − Capex | $134.6M | $-6.0M |
| FCF MarginFCF / Revenue | 11.0% | -0.5% |
| Capex IntensityCapex / Revenue | 3.3% | 1.0% |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.0M | ||
| Q3 25 | $174.3M | $62.0M | ||
| Q2 25 | $156.9M | $-48.0M | ||
| Q1 25 | $103.7M | $8.0M | ||
| Q4 24 | $349.4M | $100.0M | ||
| Q3 24 | $-159.4M | $72.0M | ||
| Q2 24 | $58.5M | $30.0M | ||
| Q1 24 | $266.1M | $3.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | $134.6M | $51.0M | ||
| Q2 25 | $128.2M | $-68.0M | ||
| Q1 25 | $76.8M | $-6.0M | ||
| Q4 24 | $265.8M | $86.0M | ||
| Q3 24 | $-179.0M | $58.0M | ||
| Q2 24 | $41.6M | $17.0M | ||
| Q1 24 | $249.5M | $-13.0M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | 11.0% | 4.3% | ||
| Q2 25 | 11.4% | -5.9% | ||
| Q1 25 | 7.2% | -0.5% | ||
| Q4 24 | 23.6% | 6.9% | ||
| Q3 24 | -19.0% | 4.8% | ||
| Q2 24 | 4.6% | 1.6% | ||
| Q1 24 | 24.0% | -1.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 3.3% | 0.9% | ||
| Q2 25 | 2.6% | 1.7% | ||
| Q1 25 | 2.5% | 1.3% | ||
| Q4 24 | 7.4% | 1.1% | ||
| Q3 24 | 2.1% | 1.1% | ||
| Q2 24 | 1.9% | 1.2% | ||
| Q1 24 | 1.6% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 17.50× | -0.70× | ||
| Q1 25 | 2.33× | 0.14× | ||
| Q4 24 | 9.44× | 2.00× | ||
| Q3 24 | -11.20× | 0.86× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | 5.37× | 0.06× |
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% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
