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CIENA CORP（CIEN）与Martin Marietta Materials（MLM）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Martin Marietta Materials的1.1倍（$1.2B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 4.1%，领先20.3%），Martin Marietta Materials自由现金流更多（$424.0M vs $134.6M），过去两年CIENA CORP的营收复合增速更高（3.9% vs -4.5%）
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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
CIEN vs MLM — 直观对比
营收规模更大
CIEN
是对方的1.1倍
$1.1B
净利率更高
MLM
高出20.3%
4.1%
自由现金流更多
MLM
多$289.4M
$134.6M
两年增速更快
CIEN
近两年复合增速
-4.5%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.1B |
| 净利润 | $50.3M | $279.0M |
| 毛利率 | 41.3% | 35.0% |
| 营业利润率 | 6.0% | 24.6% |
| 净利率 | 4.1% | 24.5% |
| 营收同比 | — | -30.1% |
| 净利润同比 | — | -4.8% |
| 每股收益（稀释后） | $0.35 | $4.59 |
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CIENMLM
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $942.3M | $1.9B | ||
| Q2 24 | $910.8M | $1.8B | ||
| Q1 24 | $1.0B | $1.3B |
净利润CIENMLM
| Q4 25 | — | $279.0M | ||
| Q3 25 | $50.3M | $414.0M | ||
| Q2 25 | $9.0M | $328.0M | ||
| Q1 25 | $44.6M | $116.0M | ||
| Q4 24 | $37.0M | $293.0M | ||
| Q3 24 | $14.2M | $363.0M | ||
| Q2 24 | $-16.8M | $294.0M | ||
| Q1 24 | $49.5M | $1.0B |
毛利率CIENMLM
| Q4 25 | — | 35.0% | ||
| Q3 25 | 41.3% | 33.1% | ||
| Q2 25 | 40.2% | 30.0% | ||
| Q1 25 | 44.0% | 24.8% | ||
| Q4 24 | 40.9% | 30.0% | ||
| Q3 24 | 42.9% | 31.7% | ||
| Q2 24 | 42.7% | 29.3% | ||
| Q1 24 | 45.0% | 21.7% |
营业利润率CIENMLM
| Q4 25 | — | 24.6% | ||
| Q3 25 | 6.0% | 27.4% | ||
| Q2 25 | 2.9% | 25.3% | ||
| Q1 25 | 7.5% | 14.3% | ||
| Q4 24 | 5.3% | 24.4% | ||
| Q3 24 | 2.8% | 25.9% | ||
| Q2 24 | -0.4% | 22.6% | ||
| Q1 24 | 8.2% | — |
净利率CIENMLM
| Q4 25 | — | 24.5% | ||
| Q3 25 | 4.1% | 22.4% | ||
| Q2 25 | 0.8% | 18.1% | ||
| Q1 25 | 4.2% | 8.6% | ||
| Q4 24 | 3.3% | 18.0% | ||
| Q3 24 | 1.5% | 19.2% | ||
| Q2 24 | -1.8% | 16.7% | ||
| Q1 24 | 4.8% | 83.5% |
每股收益（稀释后）CIENMLM
| Q4 25 | — | $4.59 | ||
| Q3 25 | $0.35 | $6.85 | ||
| Q2 25 | $0.06 | $5.43 | ||
| Q1 25 | $0.31 | $1.90 | ||
| Q4 24 | $0.26 | $4.87 | ||
| Q3 24 | $0.10 | $5.91 | ||
| Q2 24 | $-0.12 | $4.76 | ||
| Q1 24 | $0.34 | $16.87 |
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 | $67.0M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $2.8B | $10.0B |
| 总资产 | $5.7B | $18.7B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资CIENMLM
| Q4 25 | — | $67.0M | ||
| Q3 25 | $1.3B | $57.0M | ||
| Q2 25 | $1.3B | $225.0M | ||
| Q1 25 | $1.2B | $101.0M | ||
| Q4 24 | $1.3B | $670.0M | ||
| Q3 24 | $1.1B | $52.0M | ||
| Q2 24 | $1.3B | $109.0M | ||
| Q1 24 | $1.4B | $2.6B |
总债务CIENMLM
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
股东权益CIENMLM
| Q4 25 | — | $10.0B | ||
| Q3 25 | $2.8B | $9.7B | ||
| Q2 25 | $2.8B | $9.4B | ||
| Q1 25 | $2.8B | $9.1B | ||
| Q4 24 | $2.8B | $9.5B | ||
| Q3 24 | $2.9B | $9.2B | ||
| Q2 24 | $2.9B | $8.8B | ||
| Q1 24 | $2.9B | $8.9B |
总资产CIENMLM
| Q4 25 | — | $18.7B | ||
| Q3 25 | $5.7B | $18.7B | ||
| Q2 25 | $5.7B | $18.1B | ||
| Q1 25 | $5.6B | $17.7B | ||
| Q4 24 | $5.6B | $18.2B | ||
| Q3 24 | $5.6B | $16.5B | ||
| Q2 24 | $5.6B | $16.3B | ||
| Q1 24 | $5.6B | $16.2B |
负债/权益比CIENMLM
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.49× |
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 | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $424.0M |
| 自由现金流率自由现金流/营收 | 11.0% | 37.2% |
| 资本支出强度资本支出/营收 | 3.3% | 18.0% |
| 现金转化率经营现金流/净利润 | 3.47× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $605.5M | $978.0M |
8季度趋势，按日历期对齐
经营现金流CIENMLM
| Q4 25 | — | $629.0M | ||
| Q3 25 | $174.3M | $551.0M | ||
| Q2 25 | $156.9M | $387.0M | ||
| Q1 25 | $103.7M | $218.0M | ||
| Q4 24 | $349.4M | $686.0M | ||
| Q3 24 | $-159.4M | $600.0M | ||
| Q2 24 | $58.5M | $1.0M | ||
| Q1 24 | $266.1M | $172.0M |
自由现金流CIENMLM
| Q4 25 | — | $424.0M | ||
| Q3 25 | $134.6M | $361.0M | ||
| Q2 25 | $128.2M | $208.0M | ||
| Q1 25 | $76.8M | $-15.0M | ||
| Q4 24 | $265.8M | $453.0M | ||
| Q3 24 | $-179.0M | $317.0M | ||
| Q2 24 | $41.6M | $-138.0M | ||
| Q1 24 | $249.5M | $-28.0M |
自由现金流率CIENMLM
| Q4 25 | — | 37.2% | ||
| Q3 25 | 11.0% | 19.6% | ||
| Q2 25 | 11.4% | 11.5% | ||
| Q1 25 | 7.2% | -1.1% | ||
| Q4 24 | 23.6% | 27.8% | ||
| Q3 24 | -19.0% | 16.8% | ||
| Q2 24 | 4.6% | -7.8% | ||
| Q1 24 | 24.0% | -2.2% |
资本支出强度CIENMLM
| Q4 25 | — | 18.0% | ||
| Q3 25 | 3.3% | 10.3% | ||
| Q2 25 | 2.6% | 9.9% | ||
| Q1 25 | 2.5% | 17.2% | ||
| Q4 24 | 7.4% | 14.3% | ||
| Q3 24 | 2.1% | 15.0% | ||
| Q2 24 | 1.9% | 7.9% | ||
| Q1 24 | 1.6% | 16.0% |
现金转化率CIENMLM
| Q4 25 | — | 2.25× | ||
| Q3 25 | 3.47× | 1.33× | ||
| Q2 25 | 17.50× | 1.18× | ||
| Q1 25 | 2.33× | 1.88× | ||
| Q4 24 | 9.44× | 2.34× | ||
| Q3 24 | -11.20× | 1.65× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | 5.37× | 0.16× |
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% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
