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CIENA CORP（CIEN）与Healthpeak Properties（DOC）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Healthpeak Properties的1.7倍（$1.2B vs $702.9M），Healthpeak Properties净利率更高（51.6% vs 4.1%，领先47.5%），过去两年CIENA CORP的营收复合增速更高（3.9% vs 0.5%）
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。
Healthpeak Properties是美国医疗地产领域的房地产投资信托基金，核心投资范畴覆盖老年住宅、生命科学相关物业及医疗办公楼三类资产。公司2007年于马里兰州组建，总部设在科罗拉多州丹佛市，在尔湾、纳什维尔、旧金山均设有办事处，截至2019年12月31日共持有617处物业的权益。
CIEN vs DOC — 直观对比
营收规模更大
CIEN
是对方的1.7倍
$702.9M
净利率更高
DOC
高出47.5%
4.1%
两年增速更快
CIEN
近两年复合增速
0.5%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $702.9M |
| 净利润 | $50.3M | $363.0M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 6.0% | 0.7% |
| 净利率 | 4.1% | 51.6% |
| 营收同比 | — | -6.6% |
| 净利润同比 | — | 28.3% |
| 每股收益（稀释后） | $0.35 | $0.28 |
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CIENDOC
| Q1 26 | — | $702.9M | ||
| Q4 25 | — | $719.4M | ||
| Q3 25 | $1.2B | $705.9M | ||
| Q2 25 | $1.1B | $694.3M | ||
| Q1 25 | $1.1B | $702.9M | ||
| Q4 24 | $1.1B | $698.0M | ||
| Q3 24 | $942.3M | $700.4M | ||
| Q2 24 | $910.8M | $695.5M |
净利润CIENDOC
| Q1 26 | — | $363.0M | ||
| Q4 25 | — | $114.0M | ||
| Q3 25 | $50.3M | $-117.1M | ||
| Q2 25 | $9.0M | $31.7M | ||
| Q1 25 | $44.6M | $42.8M | ||
| Q4 24 | $37.0M | $4.5M | ||
| Q3 24 | $14.2M | $85.9M | ||
| Q2 24 | $-16.8M | $146.0M |
毛利率CIENDOC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 41.3% | 58.6% | ||
| Q2 25 | 40.2% | 60.2% | ||
| Q1 25 | 44.0% | 61.1% | ||
| Q4 24 | 40.9% | 60.3% | ||
| Q3 24 | 42.9% | 60.0% | ||
| Q2 24 | 42.7% | 60.6% |
营业利润率CIENDOC
| Q1 26 | — | 0.7% | ||
| Q4 25 | — | 17.4% | ||
| Q3 25 | 6.0% | 9.2% | ||
| Q2 25 | 2.9% | 5.7% | ||
| Q1 25 | 7.5% | 7.7% | ||
| Q4 24 | 5.3% | -2.2% | ||
| Q3 24 | 2.8% | 14.1% | ||
| Q2 24 | -0.4% | 22.3% |
净利率CIENDOC
| Q1 26 | — | 51.6% | ||
| Q4 25 | — | 73.2% | ||
| Q3 25 | 4.1% | -16.6% | ||
| Q2 25 | 0.8% | 4.6% | ||
| Q1 25 | 4.2% | 6.1% | ||
| Q4 24 | 3.3% | 0.7% | ||
| Q3 24 | 1.5% | 12.3% | ||
| Q2 24 | -1.8% | 21.0% |
每股收益（稀释后）CIENDOC
| Q1 26 | — | $0.28 | ||
| Q4 25 | — | $0.16 | ||
| Q3 25 | $0.35 | $-0.17 | ||
| Q2 25 | $0.06 | $0.05 | ||
| Q1 25 | $0.31 | $0.06 | ||
| Q4 24 | $0.26 | $0.02 | ||
| Q3 24 | $0.10 | $0.12 | ||
| Q2 24 | $-0.12 | $0.21 |
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 | $-1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.8B | $7.8B |
| 总资产 | $5.7B | $21.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CIENDOC
| Q1 26 | — | $-1.2B | ||
| Q4 25 | — | $467.5M | ||
| Q3 25 | $1.3B | $91.0M | ||
| Q2 25 | $1.3B | $89.4M | ||
| Q1 25 | $1.2B | $70.6M | ||
| Q4 24 | $1.3B | $119.8M | ||
| Q3 24 | $1.1B | $180.4M | ||
| Q2 24 | $1.3B | $106.9M |
总债务CIENDOC
| Q1 26 | — | — | ||
| Q4 25 | — | $9.8B | ||
| Q3 25 | — | $9.1B | ||
| Q2 25 | — | $9.0B | ||
| Q1 25 | — | $8.9B | ||
| Q4 24 | — | $8.7B | ||
| Q3 24 | — | $8.6B | ||
| Q2 24 | — | $8.6B |
股东权益CIENDOC
| Q1 26 | — | $7.8B | ||
| Q4 25 | — | $7.5B | ||
| Q3 25 | $2.8B | $7.6B | ||
| Q2 25 | $2.8B | $7.9B | ||
| Q1 25 | $2.8B | $8.2B | ||
| Q4 24 | $2.8B | $8.4B | ||
| Q3 24 | $2.9B | $8.6B | ||
| Q2 24 | $2.9B | $8.8B |
总资产CIENDOC
| Q1 26 | — | $21.6B | ||
| Q4 25 | — | $20.3B | ||
| Q3 25 | $5.7B | $19.6B | ||
| Q2 25 | $5.7B | $19.8B | ||
| Q1 25 | $5.6B | $19.8B | ||
| Q4 24 | $5.6B | $19.9B | ||
| Q3 24 | $5.6B | $20.0B | ||
| Q2 24 | $5.6B | $20.2B |
负债/权益比CIENDOC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.31× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 0.98× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $134.6M | — |
| 自由现金流率自由现金流/营收 | 11.0% | — |
| 资本支出强度资本支出/营收 | 3.3% | 3.4% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流CIENDOC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | $174.3M | $315.0M | ||
| Q2 25 | $156.9M | $363.5M | ||
| Q1 25 | $103.7M | $279.4M | ||
| Q4 24 | $349.4M | $1.1B | ||
| Q3 24 | $-159.4M | $318.2M | ||
| Q2 24 | $58.5M | $316.2M |
自由现金流CIENDOC
| Q1 26 | — | — | ||
| Q4 25 | — | $357.0M | ||
| Q3 25 | $134.6M | — | ||
| Q2 25 | $128.2M | — | ||
| Q1 25 | $76.8M | — | ||
| Q4 24 | $265.8M | $333.7M | ||
| Q3 24 | $-179.0M | — | ||
| Q2 24 | $41.6M | — |
自由现金流率CIENDOC
| Q1 26 | — | — | ||
| Q4 25 | — | 49.6% | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 23.6% | 47.8% | ||
| Q3 24 | -19.0% | — | ||
| Q2 24 | 4.6% | — |
资本支出强度CIENDOC
| Q1 26 | — | 3.4% | ||
| Q4 25 | — | 124.4% | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 7.4% | 105.6% | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 1.9% | — |
现金转化率CIENDOC
| Q1 26 | — | — | ||
| Q4 25 | — | 10.99× | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 17.50× | 11.48× | ||
| Q1 25 | 2.33× | 6.52× | ||
| Q4 24 | 9.44× | 235.43× | ||
| Q3 24 | -11.20× | 3.71× | ||
| Q2 24 | — | 2.17× |
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% |
DOC
| Outpatient Medical | $320.5M | 46% |
| Lab | $217.6M | 31% |
| Senior Housing | $148.9M | 21% |
| Other | $14.3M | 2% |
| Corporate Non-segment | $1.5M | 0% |
