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CIENA CORP（CIEN）与网件（NTGR）财务数据对比。点击上方公司名可切换其他公司
CIENA CORP的季度营收约是网件的6.7倍（$1.2B vs $182.5M）。CIENA CORP自由现金流更多（$134.6M vs $13.6M）。过去两年网件的营收复合增速更高（5.3% 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。
网件是总部位于美国加利福尼亚州圣何塞的计算机网络设备企业，在全球约22个国家设有分支机构，面向个人消费者、企业及服务提供商研发生产各类网络硬件，业务分为零售、商业客户、服务供应商三大板块。
CIEN vs NTGR — 直观对比
营收规模更大
CIEN
是对方的6.7倍
$182.5M
自由现金流更多
CIEN
多$121.0M
$13.6M
两年增速更快
NTGR
近两年复合增速
3.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $182.5M |
| 净利润 | $50.3M | — |
| 毛利率 | 41.3% | 40.4% |
| 营业利润率 | 6.0% | -2.6% |
| 净利率 | 4.1% | — |
| 营收同比 | — | 0.0% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.35 | $-0.03 |
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CIENNTGR
| Q4 25 | — | $182.5M | ||
| Q3 25 | $1.2B | $184.6M | ||
| Q2 25 | $1.1B | $170.5M | ||
| Q1 25 | $1.1B | $162.1M | ||
| Q4 24 | $1.1B | $182.4M | ||
| Q3 24 | $942.3M | $182.9M | ||
| Q2 24 | $910.8M | $143.9M | ||
| Q1 24 | $1.0B | $164.6M |
净利润CIENNTGR
| Q4 25 | — | — | ||
| Q3 25 | $50.3M | $-4.8M | ||
| Q2 25 | $9.0M | $-6.4M | ||
| Q1 25 | $44.6M | $-6.0M | ||
| Q4 24 | $37.0M | $-8.9M | ||
| Q3 24 | $14.2M | $85.1M | ||
| Q2 24 | $-16.8M | $-45.2M | ||
| Q1 24 | $49.5M | $-18.6M |
毛利率CIENNTGR
| Q4 25 | — | 40.4% | ||
| Q3 25 | 41.3% | 39.1% | ||
| Q2 25 | 40.2% | 37.5% | ||
| Q1 25 | 44.0% | 34.8% | ||
| Q4 24 | 40.9% | 32.6% | ||
| Q3 24 | 42.9% | 30.9% | ||
| Q2 24 | 42.7% | 22.1% | ||
| Q1 24 | 45.0% | 29.3% |
营业利润率CIENNTGR
| Q4 25 | — | -2.6% | ||
| Q3 25 | 6.0% | -3.8% | ||
| Q2 25 | 2.9% | -5.6% | ||
| Q1 25 | 7.5% | -7.9% | ||
| Q4 24 | 5.3% | -8.3% | ||
| Q3 24 | 2.8% | 52.4% | ||
| Q2 24 | -0.4% | -32.6% | ||
| Q1 24 | 8.2% | -13.2% |
净利率CIENNTGR
| Q4 25 | — | — | ||
| Q3 25 | 4.1% | -2.6% | ||
| Q2 25 | 0.8% | -3.8% | ||
| Q1 25 | 4.2% | -3.7% | ||
| Q4 24 | 3.3% | -4.9% | ||
| Q3 24 | 1.5% | 46.5% | ||
| Q2 24 | -1.8% | -31.4% | ||
| Q1 24 | 4.8% | -11.3% |
每股收益（稀释后）CIENNTGR
| Q4 25 | — | $-0.03 | ||
| Q3 25 | $0.35 | $-0.17 | ||
| Q2 25 | $0.06 | $-0.22 | ||
| Q1 25 | $0.31 | $-0.21 | ||
| Q4 24 | $0.26 | $-0.29 | ||
| Q3 24 | $0.10 | $2.90 | ||
| Q2 24 | $-0.12 | $-1.56 | ||
| Q1 24 | $0.34 | $-0.63 |
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 | $323.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.8B | $497.8M |
| 总资产 | $5.7B | $836.3M |
| 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CIENNTGR
| Q4 25 | — | $323.0M | ||
| Q3 25 | $1.3B | $326.4M | ||
| Q2 25 | $1.3B | $363.5M | ||
| Q1 25 | $1.2B | $391.9M | ||
| Q4 24 | $1.3B | $408.7M | ||
| Q3 24 | $1.1B | $395.7M | ||
| Q2 24 | $1.3B | $294.3M | ||
| Q1 24 | $1.4B | $289.4M |
股东权益CIENNTGR
| Q4 25 | — | $497.8M | ||
| Q3 25 | $2.8B | $506.8M | ||
| Q2 25 | $2.8B | $523.2M | ||
| Q1 25 | $2.8B | $534.2M | ||
| Q4 24 | $2.8B | $541.1M | ||
| Q3 24 | $2.9B | $550.3M | ||
| Q2 24 | $2.9B | $459.4M | ||
| Q1 24 | $2.9B | $511.4M |
总资产CIENNTGR
| Q4 25 | — | $836.3M | ||
| Q3 25 | $5.7B | $810.8M | ||
| Q2 25 | $5.7B | $803.5M | ||
| Q1 25 | $5.6B | $814.2M | ||
| Q4 24 | $5.6B | $850.2M | ||
| Q3 24 | $5.6B | $862.6M | ||
| Q2 24 | $5.6B | $754.1M | ||
| Q1 24 | $5.6B | $801.3M |
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 | $19.5M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $13.6M |
| 自由现金流率自由现金流/营收 | 11.0% | 7.5% |
| 资本支出强度资本支出/营收 | 3.3% | 3.2% |
| 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 | $-18.9M |
8季度趋势，按日历期对齐
经营现金流CIENNTGR
| Q4 25 | — | $19.5M | ||
| Q3 25 | $174.3M | $-7.4M | ||
| Q2 25 | $156.9M | $-1.8M | ||
| Q1 25 | $103.7M | $-8.7M | ||
| Q4 24 | $349.4M | $21.5M | ||
| Q3 24 | $-159.4M | $107.7M | ||
| Q2 24 | $58.5M | $18.4M | ||
| Q1 24 | $266.1M | $17.2M |
自由现金流CIENNTGR
| Q4 25 | — | $13.6M | ||
| Q3 25 | $134.6M | $-17.1M | ||
| Q2 25 | $128.2M | $-5.3M | ||
| Q1 25 | $76.8M | $-10.1M | ||
| Q4 24 | $265.8M | $19.0M | ||
| Q3 24 | $-179.0M | $106.0M | ||
| Q2 24 | $41.6M | $16.1M | ||
| Q1 24 | $249.5M | $14.7M |
自由现金流率CIENNTGR
| Q4 25 | — | 7.5% | ||
| Q3 25 | 11.0% | -9.3% | ||
| Q2 25 | 11.4% | -3.1% | ||
| Q1 25 | 7.2% | -6.3% | ||
| Q4 24 | 23.6% | 10.4% | ||
| Q3 24 | -19.0% | 58.0% | ||
| Q2 24 | 4.6% | 11.2% | ||
| Q1 24 | 24.0% | 8.9% |
资本支出强度CIENNTGR
| Q4 25 | — | 3.2% | ||
| Q3 25 | 3.3% | 5.3% | ||
| Q2 25 | 2.6% | 2.1% | ||
| Q1 25 | 2.5% | 0.9% | ||
| Q4 24 | 7.4% | 1.4% | ||
| Q3 24 | 2.1% | 0.9% | ||
| Q2 24 | 1.9% | 1.6% | ||
| Q1 24 | 1.6% | 1.5% |
现金转化率CIENNTGR
| Q4 25 | — | — | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 17.50× | — | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | -11.20× | 1.27× | ||
| 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% |
NTGR
暂无分部数据
