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CIENA CORP（CIEN）与IES Holdings, Inc.（IESC）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IES Holdings, Inc.的1.4倍（$1.2B vs $871.0M），IES Holdings, Inc.净利率更高（10.5% vs 4.1%，领先6.4%），CIENA CORP自由现金流更多（$134.6M vs $-18.9M），过去两年IES Holdings, Inc.的营收复合增速更高（11.1% 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。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
CIEN vs IESC — 直观对比
营收规模更大
CIEN
是对方的1.4倍
$871.0M
净利率更高
IESC
高出6.4%
4.1%
自由现金流更多
CIEN
多$153.5M
$-18.9M
两年增速更快
IESC
近两年复合增速
3.9%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $871.0M |
| 净利润 | $50.3M | $91.8M |
| 毛利率 | 41.3% | 25.3% |
| 营业利润率 | 6.0% | 11.2% |
| 净利率 | 4.1% | 10.5% |
| 营收同比 | — | 16.2% |
| 净利润同比 | — | 59.1% |
| 每股收益（稀释后） | $0.35 | $4.51 |
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CIENIESC
| Q4 25 | — | $871.0M | ||
| Q3 25 | $1.2B | $897.8M | ||
| Q2 25 | $1.1B | $890.2M | ||
| Q1 25 | $1.1B | $834.0M | ||
| Q4 24 | $1.1B | $749.5M | ||
| Q3 24 | $942.3M | $775.8M | ||
| Q2 24 | $910.8M | $768.4M | ||
| Q1 24 | $1.0B | $705.7M |
净利润CIENIESC
| Q4 25 | — | $91.8M | ||
| Q3 25 | $50.3M | $102.3M | ||
| Q2 25 | $9.0M | $79.3M | ||
| Q1 25 | $44.6M | $72.6M | ||
| Q4 24 | $37.0M | $57.7M | ||
| Q3 24 | $14.2M | $65.5M | ||
| Q2 24 | $-16.8M | $66.6M | ||
| Q1 24 | $49.5M | $56.8M |
毛利率CIENIESC
| Q4 25 | — | 25.3% | ||
| Q3 25 | 41.3% | 26.0% | ||
| Q2 25 | 40.2% | 26.9% | ||
| Q1 25 | 44.0% | 25.0% | ||
| Q4 24 | 40.9% | 23.8% | ||
| Q3 24 | 42.9% | 24.0% | ||
| Q2 24 | 42.7% | 25.3% | ||
| Q1 24 | 45.0% | 24.3% |
营业利润率CIENIESC
| Q4 25 | — | 11.2% | ||
| Q3 25 | 6.0% | 11.6% | ||
| Q2 25 | 2.9% | 12.6% | ||
| Q1 25 | 7.5% | 11.1% | ||
| Q4 24 | 5.3% | 10.0% | ||
| Q3 24 | 2.8% | 9.7% | ||
| Q2 24 | -0.4% | 11.7% | ||
| Q1 24 | 8.2% | 11.0% |
净利率CIENIESC
| Q4 25 | — | 10.5% | ||
| Q3 25 | 4.1% | 11.4% | ||
| Q2 25 | 0.8% | 8.9% | ||
| Q1 25 | 4.2% | 8.7% | ||
| Q4 24 | 3.3% | 7.7% | ||
| Q3 24 | 1.5% | 8.4% | ||
| Q2 24 | -1.8% | 8.7% | ||
| Q1 24 | 4.8% | 8.0% |
每股收益（稀释后）CIENIESC
| Q4 25 | — | $4.51 | ||
| Q3 25 | $0.35 | $4.99 | ||
| Q2 25 | $0.06 | $3.81 | ||
| Q1 25 | $0.31 | $3.50 | ||
| Q4 24 | $0.26 | $2.72 | ||
| Q3 24 | $0.10 | $3.06 | ||
| Q2 24 | $-0.12 | $2.67 | ||
| Q1 24 | $0.34 | $2.29 |
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 | $258.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.8B | $961.1M |
| 总资产 | $5.7B | $1.7B |
| 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CIENIESC
| Q4 25 | — | $258.7M | ||
| Q3 25 | $1.3B | $231.8M | ||
| Q2 25 | $1.3B | $168.3M | ||
| Q1 25 | $1.2B | $88.3M | ||
| Q4 24 | $1.3B | $112.0M | ||
| Q3 24 | $1.1B | $135.8M | ||
| Q2 24 | $1.3B | $44.9M | ||
| Q1 24 | $1.4B | $106.0M |
股东权益CIENIESC
| Q4 25 | — | $961.1M | ||
| Q3 25 | $2.8B | $884.0M | ||
| Q2 25 | $2.8B | $781.4M | ||
| Q1 25 | $2.8B | $705.8M | ||
| Q4 24 | $2.8B | $652.4M | ||
| Q3 24 | $2.9B | $611.1M | ||
| Q2 24 | $2.9B | $567.5M | ||
| Q1 24 | $2.9B | $534.8M |
总资产CIENIESC
| Q4 25 | — | $1.7B | ||
| Q3 25 | $5.7B | $1.6B | ||
| Q2 25 | $5.7B | $1.5B | ||
| Q1 25 | $5.6B | $1.4B | ||
| Q4 24 | $5.6B | $1.3B | ||
| Q3 24 | $5.6B | $1.2B | ||
| Q2 24 | $5.6B | $1.2B | ||
| Q1 24 | $5.6B | $1.1B |
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 | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $-18.9M |
| 自由现金流率自由现金流/营收 | 11.0% | -2.2% |
| 资本支出强度资本支出/营收 | 3.3% | 5.3% |
| 现金转化率经营现金流/净利润 | 3.47× | 0.30× |
| 过去12个月自由现金流最近4个季度 | $605.5M | $175.9M |
8季度趋势，按日历期对齐
经营现金流CIENIESC
| Q4 25 | — | $27.7M | ||
| Q3 25 | $174.3M | $132.0M | ||
| Q2 25 | $156.9M | $92.0M | ||
| Q1 25 | $103.7M | $24.8M | ||
| Q4 24 | $349.4M | $37.3M | ||
| Q3 24 | $-159.4M | $92.8M | ||
| Q2 24 | $58.5M | $82.9M | ||
| Q1 24 | $266.1M | $33.7M |
自由现金流CIENIESC
| Q4 25 | — | $-18.9M | ||
| Q3 25 | $134.6M | $112.0M | ||
| Q2 25 | $128.2M | $74.8M | ||
| Q1 25 | $76.8M | $7.9M | ||
| Q4 24 | $265.8M | $24.1M | ||
| Q3 24 | $-179.0M | $78.5M | ||
| Q2 24 | $41.6M | $65.4M | ||
| Q1 24 | $249.5M | $26.9M |
自由现金流率CIENIESC
| Q4 25 | — | -2.2% | ||
| Q3 25 | 11.0% | 12.5% | ||
| Q2 25 | 11.4% | 8.4% | ||
| Q1 25 | 7.2% | 0.9% | ||
| Q4 24 | 23.6% | 3.2% | ||
| Q3 24 | -19.0% | 10.1% | ||
| Q2 24 | 4.6% | 8.5% | ||
| Q1 24 | 24.0% | 3.8% |
资本支出强度CIENIESC
| Q4 25 | — | 5.3% | ||
| Q3 25 | 3.3% | 2.2% | ||
| Q2 25 | 2.6% | 1.9% | ||
| Q1 25 | 2.5% | 2.0% | ||
| Q4 24 | 7.4% | 1.8% | ||
| Q3 24 | 2.1% | 1.8% | ||
| Q2 24 | 1.9% | 2.3% | ||
| Q1 24 | 1.6% | 1.0% |
现金转化率CIENIESC
| Q4 25 | — | 0.30× | ||
| Q3 25 | 3.47× | 1.29× | ||
| Q2 25 | 17.50× | 1.16× | ||
| Q1 25 | 2.33× | 0.34× | ||
| Q4 24 | 9.44× | 0.65× | ||
| Q3 24 | -11.20× | 1.42× | ||
| Q2 24 | — | 1.24× | ||
| Q1 24 | 5.37× | 0.59× |
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% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
