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CIENA CORP（CIEN）与CoStar Group（CSGP）财务数据对比。点击上方公司名可切换其他公司
CIENA CORP的季度营收约是CoStar Group的1.4倍（$1.2B vs $899.9M），CoStar Group净利率更高（5.2% vs 4.1%，领先1.0%），CIENA CORP自由现金流更多（$134.6M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs 3.9%）
Ciena是总部位于美国马里兰州汉诺威的光网络系统及软件提供商，是光连接领域的核心参与者。截至2025年11月，公司营收达48亿美元，全球员工超9000人，由加里·史密斯担任总裁兼首席执行官。
CoStar Group是1987年成立的美国商业地产服务商，总部位于弗吉尼亚州阿灵顿，业务覆盖北美、欧洲地区，为商业地产行业提供信息、分析及营销解决方案，旗下运营CoStar线上数据库、新闻网站及Apartments.com、Homes.com等多个线上平台。
CIEN vs CSGP — 直观对比
营收规模更大
CIEN
是对方的1.4倍
$899.9M
净利率更高
CSGP
高出1.0%
4.1%
自由现金流更多
CIEN
多$33.3M
$101.3M
两年增速更快
CSGP
近两年复合增速
3.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $899.9M |
| 净利润 | $50.3M | $46.5M |
| 毛利率 | 41.3% | 78.6% |
| 营业利润率 | 6.0% | 5.5% |
| 净利率 | 4.1% | 5.2% |
| 营收同比 | — | 26.9% |
| 净利润同比 | — | -22.2% |
| 每股收益（稀释后） | $0.35 | $0.12 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CIENCSGP
| Q4 25 | — | $899.9M | ||
| Q3 25 | $1.2B | $833.6M | ||
| Q2 25 | $1.1B | $781.3M | ||
| Q1 25 | $1.1B | $732.2M | ||
| Q4 24 | $1.1B | $709.4M | ||
| Q3 24 | $942.3M | $692.6M | ||
| Q2 24 | $910.8M | $677.8M | ||
| Q1 24 | $1.0B | $656.4M |
净利润CIENCSGP
| Q4 25 | — | $46.5M | ||
| Q3 25 | $50.3M | $-30.9M | ||
| Q2 25 | $9.0M | $6.2M | ||
| Q1 25 | $44.6M | $-14.8M | ||
| Q4 24 | $37.0M | $59.8M | ||
| Q3 24 | $14.2M | $53.0M | ||
| Q2 24 | $-16.8M | $19.2M | ||
| Q1 24 | $49.5M | $6.7M |
毛利率CIENCSGP
| Q4 25 | — | 78.6% | ||
| Q3 25 | 41.3% | 79.3% | ||
| Q2 25 | 40.2% | 78.5% | ||
| Q1 25 | 44.0% | 79.1% | ||
| Q4 24 | 40.9% | 80.1% | ||
| Q3 24 | 42.9% | 79.7% | ||
| Q2 24 | 42.7% | 80.0% | ||
| Q1 24 | 45.0% | 78.5% |
营业利润率CIENCSGP
| Q4 25 | — | 5.5% | ||
| Q3 25 | 6.0% | -6.1% | ||
| Q2 25 | 2.9% | -3.5% | ||
| Q1 25 | 7.5% | -5.8% | ||
| Q4 24 | 5.3% | 5.6% | ||
| Q3 24 | 2.8% | 3.4% | ||
| Q2 24 | -0.4% | -2.4% | ||
| Q1 24 | 8.2% | -6.5% |
净利率CIENCSGP
| Q4 25 | — | 5.2% | ||
| Q3 25 | 4.1% | -3.7% | ||
| Q2 25 | 0.8% | 0.8% | ||
| Q1 25 | 4.2% | -2.0% | ||
| Q4 24 | 3.3% | 8.4% | ||
| Q3 24 | 1.5% | 7.7% | ||
| Q2 24 | -1.8% | 2.8% | ||
| Q1 24 | 4.8% | 1.0% |
每股收益（稀释后）CIENCSGP
| Q4 25 | — | $0.12 | ||
| Q3 25 | $0.35 | $-0.07 | ||
| Q2 25 | $0.06 | $0.01 | ||
| Q1 25 | $0.31 | $-0.04 | ||
| Q4 24 | $0.26 | $0.14 | ||
| Q3 24 | $0.10 | $0.13 | ||
| Q2 24 | $-0.12 | $0.05 | ||
| Q1 24 | $0.34 | $0.02 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.3B | $1.6B |
| 总债务越低越好 | — | $140.0M |
| 股东权益账面价值 | $2.8B | $8.3B |
| 总资产 | $5.7B | $10.5B |
| 负债/权益比越低杠杆越低 | — | 0.02× |
8季度趋势，按日历期对齐
现金及短期投资CIENCSGP
| Q4 25 | — | $1.6B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.3B | $3.6B | ||
| Q1 25 | $1.2B | $3.7B | ||
| Q4 24 | $1.3B | $4.7B | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.4B | — |
总债务CIENCSGP
| Q4 25 | — | $140.0M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.0B |
股东权益CIENCSGP
| Q4 25 | — | $8.3B | ||
| Q3 25 | $2.8B | $8.6B | ||
| Q2 25 | $2.8B | $8.6B | ||
| Q1 25 | $2.8B | $8.6B | ||
| Q4 24 | $2.8B | $7.6B | ||
| Q3 24 | $2.9B | $7.5B | ||
| Q2 24 | $2.9B | $7.4B | ||
| Q1 24 | $2.9B | $7.3B |
总资产CIENCSGP
| Q4 25 | — | $10.5B | ||
| Q3 25 | $5.7B | $10.8B | ||
| Q2 25 | $5.7B | $10.5B | ||
| Q1 25 | $5.6B | $10.4B | ||
| Q4 24 | $5.6B | $9.3B | ||
| Q3 24 | $5.6B | $9.1B | ||
| Q2 24 | $5.6B | $9.1B | ||
| Q1 24 | $5.6B | $9.0B |
负债/权益比CIENCSGP
| Q4 25 | — | 0.02× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $174.3M | $162.1M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $101.3M |
| 自由现金流率自由现金流/营收 | 11.0% | 11.3% |
| 资本支出强度资本支出/营收 | 3.3% | 6.8% |
| 现金转化率经营现金流/净利润 | 3.47× | 3.49× |
| 过去12个月自由现金流最近4个季度 | $605.5M | $123.0M |
8季度趋势，按日历期对齐
经营现金流CIENCSGP
| Q4 25 | — | $162.1M | ||
| Q3 25 | $174.3M | $68.2M | ||
| Q2 25 | $156.9M | $146.5M | ||
| Q1 25 | $103.7M | $53.2M | ||
| Q4 24 | $349.4M | $94.6M | ||
| Q3 24 | $-159.4M | $100.3M | ||
| Q2 24 | $58.5M | $58.1M | ||
| Q1 24 | $266.1M | $139.6M |
自由现金流CIENCSGP
| Q4 25 | — | $101.3M | ||
| Q3 25 | $134.6M | $-5.5M | ||
| Q2 25 | $128.2M | $27.7M | ||
| Q1 25 | $76.8M | $-500.0K | ||
| Q4 24 | $265.8M | $25.2M | ||
| Q3 24 | $-179.0M | $40.2M | ||
| Q2 24 | $41.6M | $-14.7M | ||
| Q1 24 | $249.5M | $-237.1M |
自由现金流率CIENCSGP
| Q4 25 | — | 11.3% | ||
| Q3 25 | 11.0% | -0.7% | ||
| Q2 25 | 11.4% | 3.5% | ||
| Q1 25 | 7.2% | -0.1% | ||
| Q4 24 | 23.6% | 3.6% | ||
| Q3 24 | -19.0% | 5.8% | ||
| Q2 24 | 4.6% | -2.2% | ||
| Q1 24 | 24.0% | -36.1% |
资本支出强度CIENCSGP
| Q4 25 | — | 6.8% | ||
| Q3 25 | 3.3% | 8.8% | ||
| Q2 25 | 2.6% | 15.2% | ||
| Q1 25 | 2.5% | 7.3% | ||
| Q4 24 | 7.4% | 9.8% | ||
| Q3 24 | 2.1% | 8.7% | ||
| Q2 24 | 1.9% | 10.7% | ||
| Q1 24 | 1.6% | 57.4% |
现金转化率CIENCSGP
| Q4 25 | — | 3.49× | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 17.50× | 23.63× | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | 1.58× | ||
| Q3 24 | -11.20× | 1.89× | ||
| Q2 24 | — | 3.03× | ||
| Q1 24 | 5.37× | 20.84× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
CSGP
| Co Star | $503.8M | 56% |
| Other | $283.0M | 31% |
| Loop Net | $94.7M | 11% |
