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CIENA CORP（CIEN）与Hilton Grand Vacations Inc.（HGV）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Hilton Grand Vacations Inc.的1.0倍（$1.2B vs $1.2B），CIENA CORP净利率更高（4.1% vs 4.0%，领先0.1%），Hilton Grand Vacations Inc.自由现金流更多（$147.0M vs $134.6M），过去两年Hilton Grand Vacations Inc.的营收复合增速更高（7.4% 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。
希尔顿度假大酒店公司（Hilton Grand Vacations Inc.）总部位于美国佛罗里达州奥兰多，是一家跨国企业。该公司通过与希尔顿全球的独家授权协议，运营管理希尔顿旗下的分时度假和度假所有权品牌。其原为希尔顿全球的全资子公司，2017年分拆为独立上市公司。
CIEN vs HGV — 直观对比
营收规模更大
CIEN
是对方的1.0倍
$1.2B
净利率更高
CIEN
高出0.1%
4.0%
自由现金流更多
HGV
多$12.4M
$134.6M
两年增速更快
HGV
近两年复合增速
3.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $50.3M | $48.0M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 6.0% | 7.8% |
| 净利率 | 4.1% | 4.0% |
| 营收同比 | — | 3.7% |
| 净利润同比 | — | 140.0% |
| 每股收益（稀释后） | $0.35 | $0.53 |
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CIENHGV
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $942.3M | $1.2B | ||
| Q2 24 | $910.8M | $1.1B | ||
| Q1 24 | $1.0B | $1.0B |
净利润CIENHGV
| Q4 25 | — | $48.0M | ||
| Q3 25 | $50.3M | $25.0M | ||
| Q2 25 | $9.0M | $25.0M | ||
| Q1 25 | $44.6M | $-17.0M | ||
| Q4 24 | $37.0M | $20.0M | ||
| Q3 24 | $14.2M | $29.0M | ||
| Q2 24 | $-16.8M | $2.0M | ||
| Q1 24 | $49.5M | $-4.0M |
毛利率CIENHGV
| 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CIENHGV
| Q4 25 | — | 7.8% | ||
| Q3 25 | 6.0% | 3.9% | ||
| Q2 25 | 2.9% | 3.8% | ||
| Q1 25 | 7.5% | -0.6% | ||
| Q4 24 | 5.3% | 4.3% | ||
| Q3 24 | 2.8% | 7.9% | ||
| Q2 24 | -0.4% | 0.6% | ||
| Q1 24 | 8.2% | -1.3% |
净利率CIENHGV
| Q4 25 | — | 4.0% | ||
| Q3 25 | 4.1% | 2.1% | ||
| Q2 25 | 0.8% | 2.2% | ||
| Q1 25 | 4.2% | -1.7% | ||
| Q4 24 | 3.3% | 1.7% | ||
| Q3 24 | 1.5% | 2.5% | ||
| Q2 24 | -1.8% | 0.2% | ||
| Q1 24 | 4.8% | -0.4% |
每股收益（稀释后）CIENHGV
| Q4 25 | — | $0.53 | ||
| Q3 25 | $0.35 | $0.28 | ||
| Q2 25 | $0.06 | $0.25 | ||
| Q1 25 | $0.31 | $-0.17 | ||
| Q4 24 | $0.26 | $0.19 | ||
| Q3 24 | $0.10 | $0.28 | ||
| Q2 24 | $-0.12 | $0.02 | ||
| Q1 24 | $0.34 | $-0.04 |
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 | $239.0M |
| 总债务越低越好 | — | $4.5B |
| 股东权益账面价值 | $2.8B | $1.3B |
| 总资产 | $5.7B | $11.5B |
| 负债/权益比越低杠杆越低 | — | 3.53× |
8季度趋势，按日历期对齐
现金及短期投资CIENHGV
| Q4 25 | — | $239.0M | ||
| Q3 25 | $1.3B | $215.0M | ||
| Q2 25 | $1.3B | $269.0M | ||
| Q1 25 | $1.2B | $259.0M | ||
| Q4 24 | $1.3B | $328.0M | ||
| Q3 24 | $1.1B | $297.0M | ||
| Q2 24 | $1.3B | $328.0M | ||
| Q1 24 | $1.4B | $355.0M |
总债务CIENHGV
| Q4 25 | — | $4.5B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $5.1B |
股东权益CIENHGV
| Q4 25 | — | $1.3B | ||
| Q3 25 | $2.8B | $1.4B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.8B | $1.6B | ||
| Q4 24 | $2.8B | $1.8B | ||
| Q3 24 | $2.9B | $1.8B | ||
| Q2 24 | $2.9B | $1.9B | ||
| Q1 24 | $2.9B | $2.0B |
总资产CIENHGV
| Q4 25 | — | $11.5B | ||
| Q3 25 | $5.7B | $11.7B | ||
| Q2 25 | $5.7B | $11.7B | ||
| Q1 25 | $5.6B | $11.8B | ||
| Q4 24 | $5.6B | $11.4B | ||
| Q3 24 | $5.6B | $11.2B | ||
| Q2 24 | $5.6B | $11.5B | ||
| Q1 24 | $5.6B | $11.7B |
负债/权益比CIENHGV
| Q4 25 | — | 3.53× | ||
| Q3 25 | — | 3.41× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | — | 2.83× | ||
| Q4 24 | — | 2.63× | ||
| Q3 24 | — | 2.73× | ||
| Q2 24 | — | 2.55× | ||
| Q1 24 | — | 2.57× |
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 | $167.0M |
| 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% | 12.3% |
| 资本支出强度资本支出/营收 | 3.3% | 1.7% |
| 现金转化率经营现金流/净利润 | 3.47× | 3.48× |
| 过去12个月自由现金流最近4个季度 | $605.5M | $230.0M |
8季度趋势，按日历期对齐
经营现金流CIENHGV
| Q4 25 | — | $167.0M | ||
| Q3 25 | $174.3M | $34.0M | ||
| Q2 25 | $156.9M | $61.0M | ||
| Q1 25 | $103.7M | $38.0M | ||
| Q4 24 | $349.4M | $105.0M | ||
| Q3 24 | $-159.4M | $91.0M | ||
| Q2 24 | $58.5M | $113.0M | ||
| Q1 24 | $266.1M | $0 |
自由现金流CIENHGV
| Q4 25 | — | $147.0M | ||
| Q3 25 | $134.6M | $13.0M | ||
| Q2 25 | $128.2M | $46.0M | ||
| Q1 25 | $76.8M | $24.0M | ||
| Q4 24 | $265.8M | $90.0M | ||
| Q3 24 | $-179.0M | $81.0M | ||
| Q2 24 | $41.6M | $106.0M | ||
| Q1 24 | $249.5M | — |
自由现金流率CIENHGV
| Q4 25 | — | 12.3% | ||
| Q3 25 | 11.0% | 1.1% | ||
| Q2 25 | 11.4% | 4.0% | ||
| Q1 25 | 7.2% | 2.4% | ||
| Q4 24 | 23.6% | 7.8% | ||
| Q3 24 | -19.0% | 6.9% | ||
| Q2 24 | 4.6% | 9.6% | ||
| Q1 24 | 24.0% | — |
资本支出强度CIENHGV
| Q4 25 | — | 1.7% | ||
| Q3 25 | 3.3% | 1.8% | ||
| Q2 25 | 2.6% | 1.3% | ||
| Q1 25 | 2.5% | 1.4% | ||
| Q4 24 | 7.4% | 1.3% | ||
| Q3 24 | 2.1% | 0.9% | ||
| Q2 24 | 1.9% | 0.6% | ||
| Q1 24 | 1.6% | 1.0% |
现金转化率CIENHGV
| Q4 25 | — | 3.48× | ||
| Q3 25 | 3.47× | 1.36× | ||
| Q2 25 | 17.50× | 2.44× | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | 5.25× | ||
| Q3 24 | -11.20× | 3.14× | ||
| Q2 24 | — | 56.50× | ||
| 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% |
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Resort Management | $118.0M | 10% |
| Other | $116.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
