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CIENA CORP（CIEN）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
CIENA CORP的季度营收约是美泰的1.4倍（$1.2B vs $862.2M），美泰净利率更高（7.1% vs 4.1%，领先2.9%），CIENA CORP自由现金流更多（$134.6M vs $-88.1M），过去两年CIENA CORP的营收复合增速更高（3.9% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
CIEN vs MAT — 直观对比
营收规模更大
CIEN
是对方的1.4倍
$862.2M
净利率更高
MAT
高出2.9%
4.1%
自由现金流更多
CIEN
多$222.7M
$-88.1M
两年增速更快
CIEN
近两年复合增速
-10.6%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $862.2M |
| 净利润 | $50.3M | $61.0M |
| 毛利率 | 41.3% | 44.9% |
| 营业利润率 | 6.0% | — |
| 净利率 | 4.1% | 7.1% |
| 营收同比 | — | 4.3% |
| 净利润同比 | — | 251.4% |
| 每股收益（稀释后） | $0.35 | $0.20 |
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CIENMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $1.1B | $826.6M | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $942.3M | $1.8B | ||
| Q2 24 | $910.8M | $1.1B |
净利润CIENMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | — | $106.2M | ||
| Q3 25 | $50.3M | $278.4M | ||
| Q2 25 | $9.0M | $53.4M | ||
| Q1 25 | $44.6M | $-40.3M | ||
| Q4 24 | $37.0M | $140.9M | ||
| Q3 24 | $14.2M | $372.4M | ||
| Q2 24 | $-16.8M | $56.9M |
毛利率CIENMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | 41.3% | 50.0% | ||
| Q2 25 | 40.2% | 50.9% | ||
| Q1 25 | 44.0% | 49.4% | ||
| Q4 24 | 40.9% | 50.7% | ||
| Q3 24 | 42.9% | 53.1% | ||
| Q2 24 | 42.7% | 49.2% |
营业利润率CIENMAT
| Q1 26 | — | — | ||
| Q4 25 | — | 8.0% | ||
| Q3 25 | 6.0% | 21.9% | ||
| Q2 25 | 2.9% | 7.7% | ||
| Q1 25 | 7.5% | -6.4% | ||
| Q4 24 | 5.3% | 9.6% | ||
| Q3 24 | 2.8% | 26.5% | ||
| Q2 24 | -0.4% | 7.7% |
净利率CIENMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | — | 6.0% | ||
| Q3 25 | 4.1% | 16.0% | ||
| Q2 25 | 0.8% | 5.2% | ||
| Q1 25 | 4.2% | -4.9% | ||
| Q4 24 | 3.3% | 8.6% | ||
| Q3 24 | 1.5% | 20.2% | ||
| Q2 24 | -1.8% | 5.3% |
每股收益（稀释后）CIENMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | — | $0.32 | ||
| Q3 25 | $0.35 | $0.88 | ||
| Q2 25 | $0.06 | $0.16 | ||
| Q1 25 | $0.31 | $-0.12 | ||
| Q4 24 | $0.26 | $0.40 | ||
| Q3 24 | $0.10 | $1.09 | ||
| Q2 24 | $-0.12 | $0.17 |
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 | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $2.8B | $2.1B |
| 总资产 | $5.7B | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资CIENMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.3B | $691.9M | ||
| Q2 25 | $1.3B | $870.5M | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.1B | $723.5M | ||
| Q2 24 | $1.3B | $722.4M |
总债务CIENMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
股东权益CIENMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | $2.8B | $2.3B | ||
| Q2 25 | $2.8B | $2.2B | ||
| Q1 25 | $2.8B | $2.1B | ||
| Q4 24 | $2.8B | $2.3B | ||
| Q3 24 | $2.9B | $2.3B | ||
| Q2 24 | $2.9B | $2.0B |
总资产CIENMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | — | $6.6B | ||
| Q3 25 | $5.7B | $6.6B | ||
| Q2 25 | $5.7B | $6.2B | ||
| Q1 25 | $5.6B | $6.2B | ||
| Q4 24 | $5.6B | $6.5B | ||
| Q3 24 | $5.6B | $6.5B | ||
| Q2 24 | $5.6B | $5.9B |
负债/权益比CIENMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.18× |
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 | $-88.1M |
| 自由现金流率自由现金流/营收 | 11.0% | -10.2% |
| 资本支出强度资本支出/营收 | 3.3% | 7.6% |
| 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CIENMAT
| Q1 26 | — | — | ||
| Q4 25 | — | $796.6M | ||
| Q3 25 | $174.3M | $72.0M | ||
| Q2 25 | $156.9M | $-300.1M | ||
| Q1 25 | $103.7M | $24.8M | ||
| Q4 24 | $349.4M | $862.1M | ||
| Q3 24 | $-159.4M | $155.8M | ||
| Q2 24 | $58.5M | $-252.9M |
自由现金流CIENMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | — | — | ||
| Q3 25 | $134.6M | — | ||
| Q2 25 | $128.2M | — | ||
| Q1 25 | $76.8M | — | ||
| Q4 24 | $265.8M | — | ||
| Q3 24 | $-179.0M | — | ||
| Q2 24 | $41.6M | — |
自由现金流率CIENMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | — | — | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 23.6% | — | ||
| Q3 24 | -19.0% | — | ||
| Q2 24 | 4.6% | — |
资本支出强度CIENMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 1.9% | — |
现金转化率CIENMAT
| Q1 26 | — | — | ||
| Q4 25 | — | 7.50× | ||
| Q3 25 | 3.47× | 0.26× | ||
| Q2 25 | 17.50× | -5.62× | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | 6.12× | ||
| Q3 24 | -11.20× | 0.42× | ||
| Q2 24 | — | -4.45× |
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% |
MAT
暂无分部数据
