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CIENA CORP（CIEN）与凯撒娱乐（CZR）财务数据对比。点击上方公司名可切换其他公司
凯撒娱乐的季度营收约是CIENA CORP的2.4倍（$2.9B vs $1.2B）。CIENA CORP净利率更高（4.1% vs -8.6%，领先12.7%）。凯撒娱乐自由现金流更多（$147.0M vs $134.6M）。过去两年CIENA CORP的营收复合增速更高（3.9% vs 3.1%）
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。
凯撒娱乐前身为埃尔拉多度假村公司，是总部位于美国内华达州里诺的酒店博彩娱乐集团。2020年7月20日公司收购原凯撒娱乐集团后更为现名，目前运营超过50处物业，业务覆盖酒店、博彩、休闲娱乐等多个领域。
CIEN vs CZR — 直观对比
营收规模更大
CZR
是对方的2.4倍
$1.2B
净利率更高
CIEN
高出12.7%
-8.6%
自由现金流更多
CZR
多$12.4M
$134.6M
两年增速更快
CIEN
近两年复合增速
3.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.9B |
| 净利润 | $50.3M | $-250.0M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 6.0% | 11.4% |
| 净利率 | 4.1% | -8.6% |
| 营收同比 | — | 4.2% |
| 净利润同比 | — | -2372.7% |
| 每股收益（稀释后） | $0.35 | $-1.22 |
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CIENCZR
| Q4 25 | — | $2.9B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.1B | $2.9B | ||
| Q1 25 | $1.1B | $2.8B | ||
| Q4 24 | $1.1B | $2.8B | ||
| Q3 24 | $942.3M | $2.9B | ||
| Q2 24 | $910.8M | $2.8B | ||
| Q1 24 | $1.0B | $2.7B |
净利润CIENCZR
| Q4 25 | — | $-250.0M | ||
| Q3 25 | $50.3M | $-55.0M | ||
| Q2 25 | $9.0M | $-82.0M | ||
| Q1 25 | $44.6M | $-115.0M | ||
| Q4 24 | $37.0M | $11.0M | ||
| Q3 24 | $14.2M | $-9.0M | ||
| Q2 24 | $-16.8M | $-122.0M | ||
| Q1 24 | $49.5M | $-158.0M |
毛利率CIENCZR
| 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% | — |
营业利润率CIENCZR
| Q4 25 | — | 11.4% | ||
| Q3 25 | 6.0% | 17.9% | ||
| Q2 25 | 2.9% | 18.1% | ||
| Q1 25 | 7.5% | 17.5% | ||
| Q4 24 | 5.3% | 23.9% | ||
| Q3 24 | 2.8% | 22.4% | ||
| Q2 24 | -0.4% | 17.9% | ||
| Q1 24 | 8.2% | 17.7% |
净利率CIENCZR
| Q4 25 | — | -8.6% | ||
| Q3 25 | 4.1% | -1.9% | ||
| Q2 25 | 0.8% | -2.8% | ||
| Q1 25 | 4.2% | -4.1% | ||
| Q4 24 | 3.3% | 0.4% | ||
| Q3 24 | 1.5% | -0.3% | ||
| Q2 24 | -1.8% | -4.3% | ||
| Q1 24 | 4.8% | -5.8% |
每股收益（稀释后）CIENCZR
| Q4 25 | — | $-1.22 | ||
| Q3 25 | $0.35 | $-0.27 | ||
| Q2 25 | $0.06 | $-0.39 | ||
| Q1 25 | $0.31 | $-0.54 | ||
| Q4 24 | $0.26 | $0.04 | ||
| Q3 24 | $0.10 | $-0.04 | ||
| Q2 24 | $-0.12 | $-0.56 | ||
| Q1 24 | $0.34 | $-0.73 |
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 | $887.0M |
| 总债务越低越好 | — | $11.9B |
| 股东权益账面价值 | $2.8B | $3.5B |
| 总资产 | $5.7B | $31.6B |
| 负债/权益比越低杠杆越低 | — | 3.40× |
8季度趋势，按日历期对齐
现金及短期投资CIENCZR
| Q4 25 | — | $887.0M | ||
| Q3 25 | $1.3B | $836.0M | ||
| Q2 25 | $1.3B | $982.0M | ||
| Q1 25 | $1.2B | $884.0M | ||
| Q4 24 | $1.3B | $866.0M | ||
| Q3 24 | $1.1B | $802.0M | ||
| Q2 24 | $1.3B | $830.0M | ||
| Q1 24 | $1.4B | $726.0M |
总债务CIENCZR
| Q4 25 | — | $11.9B | ||
| Q3 25 | — | $11.9B | ||
| Q2 25 | — | $12.3B | ||
| Q1 25 | — | $12.3B | ||
| Q4 24 | — | $12.3B | ||
| Q3 24 | — | $12.7B | ||
| Q2 24 | — | $12.4B | ||
| Q1 24 | — | $12.4B |
股东权益CIENCZR
| Q4 25 | — | $3.5B | ||
| Q3 25 | $2.8B | $3.8B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.8B | $4.1B | ||
| Q4 24 | $2.8B | $4.2B | ||
| Q3 24 | $2.9B | $4.2B | ||
| Q2 24 | $2.9B | $4.3B | ||
| Q1 24 | $2.9B | $4.4B |
总资产CIENCZR
| Q4 25 | — | $31.6B | ||
| Q3 25 | $5.7B | $31.9B | ||
| Q2 25 | $5.7B | $32.5B | ||
| Q1 25 | $5.6B | $32.4B | ||
| Q4 24 | $5.6B | $32.6B | ||
| Q3 24 | $5.6B | $33.0B | ||
| Q2 24 | $5.6B | $33.1B | ||
| Q1 24 | $5.6B | $33.1B |
负债/权益比CIENCZR
| Q4 25 | — | 3.40× | ||
| Q3 25 | — | 3.15× | ||
| Q2 25 | — | 3.15× | ||
| Q1 25 | — | 3.04× | ||
| Q4 24 | — | 2.96× | ||
| Q3 24 | — | 3.04× | ||
| Q2 24 | — | 2.89× | ||
| Q1 24 | — | 2.82× |
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 | $304.0M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $147.0M |
| 自由现金流率自由现金流/营收 | 11.0% | 5.0% |
| 资本支出强度资本支出/营收 | 3.3% | 5.4% |
| 现金转化率经营现金流/净利润 | 3.47× | — |
| 过去12个月自由现金流最近4个季度 | $605.5M | $497.0M |
8季度趋势，按日历期对齐
经营现金流CIENCZR
| Q4 25 | — | $304.0M | ||
| Q3 25 | $174.3M | $318.0M | ||
| Q2 25 | $156.9M | $462.0M | ||
| Q1 25 | $103.7M | $218.0M | ||
| Q4 24 | $349.4M | $309.0M | ||
| Q3 24 | $-159.4M | $232.0M | ||
| Q2 24 | $58.5M | $454.0M | ||
| Q1 24 | $266.1M | $80.0M |
自由现金流CIENCZR
| Q4 25 | — | $147.0M | ||
| Q3 25 | $134.6M | $123.0M | ||
| Q2 25 | $128.2M | $232.0M | ||
| Q1 25 | $76.8M | $-5.0M | ||
| Q4 24 | $265.8M | $30.0M | ||
| Q3 24 | $-179.0M | $-192.0M | ||
| Q2 24 | $41.6M | $125.0M | ||
| Q1 24 | $249.5M | $-184.0M |
自由现金流率CIENCZR
| Q4 25 | — | 5.0% | ||
| Q3 25 | 11.0% | 4.3% | ||
| Q2 25 | 11.4% | 8.0% | ||
| Q1 25 | 7.2% | -0.2% | ||
| Q4 24 | 23.6% | 1.1% | ||
| Q3 24 | -19.0% | -6.7% | ||
| Q2 24 | 4.6% | 4.4% | ||
| Q1 24 | 24.0% | -6.7% |
资本支出强度CIENCZR
| Q4 25 | — | 5.4% | ||
| Q3 25 | 3.3% | 6.8% | ||
| Q2 25 | 2.6% | 7.9% | ||
| Q1 25 | 2.5% | 8.0% | ||
| Q4 24 | 7.4% | 10.0% | ||
| Q3 24 | 2.1% | 14.8% | ||
| Q2 24 | 1.9% | 11.6% | ||
| Q1 24 | 1.6% | 9.6% |
现金转化率CIENCZR
| Q4 25 | — | — | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 17.50× | — | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | 28.09× | ||
| Q3 24 | -11.20× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.37× | — |
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% |
CZR
暂无分部数据
