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Side-by-side financial comparison of CIENA CORP (CIEN) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
Workday, Inc. is the larger business by last-quarter revenue ($2.4B vs $1.2B, roughly 2.0× CIENA CORP). Workday, Inc. runs the higher net margin — 10.4% vs 4.1%, a 6.2% gap on every dollar of revenue. Workday, Inc. produced more free cash flow last quarter ($550.0M vs $134.6M). Over the past eight quarters, Workday, Inc.'s revenue compounded faster (12.5% 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).
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
CIEN vs WDAY — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $2.4B |
| Net Profit | $50.3M | $252.0M |
| Gross Margin | 41.3% | — |
| Operating Margin | 6.0% | 10.6% |
| Net Margin | 4.1% | 10.4% |
| Revenue YoY | — | 12.6% |
| Net Profit YoY | — | 30.6% |
| 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 | — | $2.4B | ||
| Q3 25 | $1.2B | $2.3B | ||
| Q2 25 | $1.1B | $2.2B | ||
| Q1 25 | $1.1B | $2.2B | ||
| Q4 24 | $1.1B | $2.2B | ||
| Q3 24 | $942.3M | $2.1B | ||
| Q2 24 | $910.8M | $2.0B | ||
| Q1 24 | $1.0B | $1.9B |
| Q4 25 | — | $252.0M | ||
| Q3 25 | $50.3M | $228.0M | ||
| Q2 25 | $9.0M | $68.0M | ||
| Q1 25 | $44.6M | $94.0M | ||
| Q4 24 | $37.0M | $193.0M | ||
| Q3 24 | $14.2M | $132.0M | ||
| Q2 24 | $-16.8M | $107.0M | ||
| Q1 24 | $49.5M | $1.2B |
| 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 | — | 10.6% | ||
| Q3 25 | 6.0% | 10.6% | ||
| Q2 25 | 2.9% | 1.7% | ||
| Q1 25 | 7.5% | 3.4% | ||
| Q4 24 | 5.3% | 7.6% | ||
| Q3 24 | 2.8% | 5.3% | ||
| Q2 24 | -0.4% | 3.2% | ||
| Q1 24 | 8.2% | 4.1% |
| Q4 25 | — | 10.4% | ||
| Q3 25 | 4.1% | 9.7% | ||
| Q2 25 | 0.8% | 3.0% | ||
| Q1 25 | 4.2% | 4.3% | ||
| Q4 24 | 3.3% | 8.9% | ||
| Q3 24 | 1.5% | 6.3% | ||
| Q2 24 | -1.8% | 5.4% | ||
| Q1 24 | 4.8% | 61.8% |
| Q4 25 | — | $0.94 | ||
| Q3 25 | $0.35 | $0.84 | ||
| Q2 25 | $0.06 | $0.25 | ||
| Q1 25 | $0.31 | $0.34 | ||
| Q4 24 | $0.26 | $0.72 | ||
| Q3 24 | $0.10 | $0.49 | ||
| Q2 24 | $-0.12 | $0.40 | ||
| Q1 24 | $0.34 | $4.48 |
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 | $6.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8B | $8.9B |
| Total Assets | $5.7B | $17.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.8B | ||
| Q3 25 | $1.3B | $8.2B | ||
| Q2 25 | $1.3B | $8.0B | ||
| Q1 25 | $1.2B | $8.0B | ||
| Q4 24 | $1.3B | $7.2B | ||
| Q3 24 | $1.1B | $7.4B | ||
| Q2 24 | $1.3B | $7.2B | ||
| Q1 24 | $1.4B | $7.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
| Q4 25 | — | $8.9B | ||
| Q3 25 | $2.8B | $9.2B | ||
| Q2 25 | $2.8B | $8.9B | ||
| Q1 25 | $2.8B | $9.0B | ||
| Q4 24 | $2.8B | $8.6B | ||
| Q3 24 | $2.9B | $8.3B | ||
| Q2 24 | $2.9B | $8.2B | ||
| Q1 24 | $2.9B | $8.1B |
| Q4 25 | — | $17.8B | ||
| Q3 25 | $5.7B | $18.0B | ||
| Q2 25 | $5.7B | $17.2B | ||
| Q1 25 | $5.6B | $18.0B | ||
| Q4 24 | $5.6B | $16.4B | ||
| Q3 24 | $5.6B | $16.2B | ||
| Q2 24 | $5.6B | $15.9B | ||
| Q1 24 | $5.6B | $16.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.37× |
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 | $588.0M |
| Free Cash FlowOCF − Capex | $134.6M | $550.0M |
| FCF MarginFCF / Revenue | 11.0% | 22.6% |
| Capex IntensityCapex / Revenue | 3.3% | 1.6% |
| Cash ConversionOCF / Net Profit | 3.47× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $588.0M | ||
| Q3 25 | $174.3M | $616.0M | ||
| Q2 25 | $156.9M | $457.0M | ||
| Q1 25 | $103.7M | $1.1B | ||
| Q4 24 | $349.4M | $406.0M | ||
| Q3 24 | $-159.4M | $571.0M | ||
| Q2 24 | $58.5M | $372.0M | ||
| Q1 24 | $266.1M | $995.6M |
| Q4 25 | — | $550.0M | ||
| Q3 25 | $134.6M | $588.0M | ||
| Q2 25 | $128.2M | $421.0M | ||
| Q1 25 | $76.8M | $1.0B | ||
| Q4 24 | $265.8M | $359.0M | ||
| Q3 24 | $-179.0M | $516.0M | ||
| Q2 24 | $41.6M | $291.0M | ||
| Q1 24 | $249.5M | $947.6M |
| Q4 25 | — | 22.6% | ||
| Q3 25 | 11.0% | 25.0% | ||
| Q2 25 | 11.4% | 18.8% | ||
| Q1 25 | 7.2% | 46.4% | ||
| Q4 24 | 23.6% | 16.6% | ||
| Q3 24 | -19.0% | 24.7% | ||
| Q2 24 | 4.6% | 14.6% | ||
| Q1 24 | 24.0% | 49.3% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | 3.3% | 1.2% | ||
| Q2 25 | 2.6% | 1.6% | ||
| Q1 25 | 2.5% | 3.9% | ||
| Q4 24 | 7.4% | 2.2% | ||
| Q3 24 | 2.1% | 2.6% | ||
| Q2 24 | 1.9% | 4.1% | ||
| Q1 24 | 1.6% | 2.5% |
| Q4 25 | — | 2.33× | ||
| Q3 25 | 3.47× | 2.70× | ||
| Q2 25 | 17.50× | 6.72× | ||
| Q1 25 | 2.33× | 11.83× | ||
| Q4 24 | 9.44× | 2.10× | ||
| Q3 24 | -11.20× | 4.33× | ||
| Q2 24 | — | 3.48× | ||
| Q1 24 | 5.37× | 0.84× |
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
