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CIENA CORP（CIEN）与DOCUSIGN, INC.（DOCU）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DOCUSIGN, INC.的1.5倍（$1.2B vs $818.4M），DOCUSIGN, INC.净利率更高（10.2% vs 4.1%，领先6.1%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $134.6M）
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。
DocuSign是总部位于美国加利福尼亚州旧金山的软件企业，为各类机构提供多设备支持的电子协议管理及电子签名相关产品。截至2025年，公司在180个国家拥有约170万客户，其处理的签名符合美国ESIGN法案、欧盟eIDAS法规要求，满足欧盟高级及合格签名标准。
CIEN vs DOCU — 直观对比
营收规模更大
CIEN
是对方的1.5倍
$818.4M
净利率更高
DOCU
高出6.1%
4.1%
自由现金流更多
DOCU
多$128.3M
$134.6M
损益表 — Q3 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $818.4M |
| 净利润 | $50.3M | $83.7M |
| 毛利率 | 41.3% | 79.2% |
| 营业利润率 | 6.0% | 10.4% |
| 净利率 | 4.1% | 10.2% |
| 营收同比 | — | 8.4% |
| 净利润同比 | — | 34.1% |
| 每股收益（稀释后） | $0.35 | $0.40 |
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CIENDOCU
| Q4 25 | — | $818.4M | ||
| Q3 25 | $1.2B | $800.6M | ||
| Q2 25 | $1.1B | $763.7M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $942.3M | — | ||
| Q2 24 | $910.8M | — | ||
| Q1 24 | $1.0B | — |
净利润CIENDOCU
| Q4 25 | — | $83.7M | ||
| Q3 25 | $50.3M | $63.0M | ||
| Q2 25 | $9.0M | $72.1M | ||
| Q1 25 | $44.6M | — | ||
| Q4 24 | $37.0M | — | ||
| Q3 24 | $14.2M | — | ||
| Q2 24 | $-16.8M | — | ||
| Q1 24 | $49.5M | — |
毛利率CIENDOCU
| Q4 25 | — | 79.2% | ||
| Q3 25 | 41.3% | 79.3% | ||
| Q2 25 | 40.2% | 79.4% | ||
| 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CIENDOCU
| Q4 25 | — | 10.4% | ||
| Q3 25 | 6.0% | 8.1% | ||
| Q2 25 | 2.9% | 7.9% | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | -0.4% | — | ||
| Q1 24 | 8.2% | — |
净利率CIENDOCU
| Q4 25 | — | 10.2% | ||
| Q3 25 | 4.1% | 7.9% | ||
| Q2 25 | 0.8% | 9.4% | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | -1.8% | — | ||
| Q1 24 | 4.8% | — |
每股收益（稀释后）CIENDOCU
| Q4 25 | — | $0.40 | ||
| Q3 25 | $0.35 | $0.30 | ||
| Q2 25 | $0.06 | $0.34 | ||
| Q1 25 | $0.31 | — | ||
| Q4 24 | $0.26 | — | ||
| Q3 24 | $0.10 | — | ||
| Q2 24 | $-0.12 | — | ||
| Q1 24 | $0.34 | — |
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 | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.8B | $2.0B |
| 总资产 | $5.7B | $4.0B |
| 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CIENDOCU
| Q4 25 | — | $583.3M | ||
| Q3 25 | $1.3B | $600.0M | ||
| Q2 25 | $1.3B | $657.4M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.4B | — |
股东权益CIENDOCU
| Q4 25 | — | $2.0B | ||
| Q3 25 | $2.8B | $2.0B | ||
| Q2 25 | $2.8B | $2.0B | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.9B | — |
总资产CIENDOCU
| Q4 25 | — | $4.0B | ||
| Q3 25 | $5.7B | $3.9B | ||
| Q2 25 | $5.7B | $3.9B | ||
| Q1 25 | $5.6B | — | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.6B | — | ||
| Q2 24 | $5.6B | — | ||
| Q1 24 | $5.6B | — |
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 | $290.3M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $262.9M |
| 自由现金流率自由现金流/营收 | 11.0% | 32.1% |
| 资本支出强度资本支出/营收 | 3.3% | 3.3% |
| 现金转化率经营现金流/净利润 | 3.47× | 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CIENDOCU
| Q4 25 | — | $290.3M | ||
| Q3 25 | $174.3M | $246.1M | ||
| Q2 25 | $156.9M | $251.4M | ||
| Q1 25 | $103.7M | — | ||
| Q4 24 | $349.4M | — | ||
| Q3 24 | $-159.4M | — | ||
| Q2 24 | $58.5M | — | ||
| Q1 24 | $266.1M | — |
自由现金流CIENDOCU
| Q4 25 | — | $262.9M | ||
| Q3 25 | $134.6M | $217.6M | ||
| Q2 25 | $128.2M | $227.8M | ||
| Q1 25 | $76.8M | — | ||
| Q4 24 | $265.8M | — | ||
| Q3 24 | $-179.0M | — | ||
| Q2 24 | $41.6M | — | ||
| Q1 24 | $249.5M | — |
自由现金流率CIENDOCU
| Q4 25 | — | 32.1% | ||
| Q3 25 | 11.0% | 27.2% | ||
| Q2 25 | 11.4% | 29.8% | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 23.6% | — | ||
| Q3 24 | -19.0% | — | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 24.0% | — |
资本支出强度CIENDOCU
| Q4 25 | — | 3.3% | ||
| Q3 25 | 3.3% | 3.6% | ||
| Q2 25 | 2.6% | 3.1% | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 1.6% | — |
现金转化率CIENDOCU
| Q4 25 | — | 3.47× | ||
| Q3 25 | 3.47× | 3.91× | ||
| Q2 25 | 17.50× | 3.49× | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | — | ||
| 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% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
