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CIENA CORP（CIEN）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是CIENA CORP的1.1倍（$1.3B vs $1.2B），CIENA CORP净利率更高（4.1% vs -63.1%，领先67.2%），CIENA CORP自由现金流更多（$134.6M vs $-1.1B），过去两年CIENA CORP的营收复合增速更高（3.9% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
CIEN vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.1倍
$1.2B
净利率更高
CIEN
高出67.2%
-63.1%
自由现金流更多
CIEN
多$1.3B
$-1.1B
两年增速更快
CIEN
近两年复合增速
3.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.3B |
| 净利润 | $50.3M | $-811.0M |
| 毛利率 | 41.3% | 9.3% |
| 营业利润率 | 6.0% | -64.8% |
| 净利率 | 4.1% | -63.1% |
| 营收同比 | — | -25.8% |
| 净利润同比 | — | -9.0% |
| 每股收益（稀释后） | $0.35 | $-0.66 |
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CIENRIVN
| Q4 25 | — | $1.3B | ||
| Q3 25 | $1.2B | $1.6B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.1B | $1.2B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $942.3M | $874.0M | ||
| Q2 24 | $910.8M | $1.2B | ||
| Q1 24 | $1.0B | $1.2B |
净利润CIENRIVN
| Q4 25 | — | $-811.0M | ||
| Q3 25 | $50.3M | $-1.2B | ||
| Q2 25 | $9.0M | $-1.1B | ||
| Q1 25 | $44.6M | $-545.0M | ||
| Q4 24 | $37.0M | $-744.0M | ||
| Q3 24 | $14.2M | $-1.1B | ||
| Q2 24 | $-16.8M | $-1.5B | ||
| Q1 24 | $49.5M | $-1.4B |
毛利率CIENRIVN
| Q4 25 | — | 9.3% | ||
| Q3 25 | 41.3% | 1.5% | ||
| Q2 25 | 40.2% | -15.8% | ||
| Q1 25 | 44.0% | 16.6% | ||
| Q4 24 | 40.9% | 9.8% | ||
| Q3 24 | 42.9% | -44.9% | ||
| Q2 24 | 42.7% | -38.9% | ||
| Q1 24 | 45.0% | -43.8% |
营业利润率CIENRIVN
| Q4 25 | — | -64.8% | ||
| Q3 25 | 6.0% | -63.1% | ||
| Q2 25 | 2.9% | -85.5% | ||
| Q1 25 | 7.5% | -52.8% | ||
| Q4 24 | 5.3% | -38.1% | ||
| Q3 24 | 2.8% | -133.8% | ||
| Q2 24 | -0.4% | -118.7% | ||
| Q1 24 | 8.2% | -123.3% |
净利率CIENRIVN
| Q4 25 | — | -63.1% | ||
| Q3 25 | 4.1% | -75.3% | ||
| Q2 25 | 0.8% | -85.7% | ||
| Q1 25 | 4.2% | -44.0% | ||
| Q4 24 | 3.3% | -42.9% | ||
| Q3 24 | 1.5% | -125.9% | ||
| Q2 24 | -1.8% | -125.8% | ||
| Q1 24 | 4.8% | -120.1% |
每股收益（稀释后）CIENRIVN
| Q4 25 | — | $-0.66 | ||
| Q3 25 | $0.35 | $-0.96 | ||
| Q2 25 | $0.06 | $-0.97 | ||
| Q1 25 | $0.31 | $-0.48 | ||
| Q4 24 | $0.26 | $-0.67 | ||
| Q3 24 | $0.10 | $-1.08 | ||
| Q2 24 | $-0.12 | $-1.46 | ||
| Q1 24 | $0.34 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.8B | $4.6B |
| 总资产 | $5.7B | $14.9B |
| 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CIENRIVN
| Q4 25 | — | $6.1B | ||
| Q3 25 | $1.3B | $7.1B | ||
| Q2 25 | $1.3B | $7.5B | ||
| Q1 25 | $1.2B | $7.2B | ||
| Q4 24 | $1.3B | $7.7B | ||
| Q3 24 | $1.1B | $6.7B | ||
| Q2 24 | $1.3B | $7.9B | ||
| Q1 24 | $1.4B | $7.9B |
总债务CIENRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益CIENRIVN
| Q4 25 | — | $4.6B | ||
| Q3 25 | $2.8B | $5.1B | ||
| Q2 25 | $2.8B | $6.1B | ||
| Q1 25 | $2.8B | $6.2B | ||
| Q4 24 | $2.8B | $6.6B | ||
| Q3 24 | $2.9B | $5.9B | ||
| Q2 24 | $2.9B | $6.8B | ||
| Q1 24 | $2.9B | $8.1B |
总资产CIENRIVN
| Q4 25 | — | $14.9B | ||
| Q3 25 | $5.7B | $15.2B | ||
| Q2 25 | $5.7B | $15.6B | ||
| Q1 25 | $5.6B | $15.5B | ||
| Q4 24 | $5.6B | $15.4B | ||
| Q3 24 | $5.6B | $14.3B | ||
| Q2 24 | $5.6B | $15.4B | ||
| Q1 24 | $5.6B | $15.7B |
负债/权益比CIENRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $-1.1B |
| 自由现金流率自由现金流/营收 | 11.0% | -89.0% |
| 资本支出强度资本支出/营收 | 3.3% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流CIENRIVN
| Q4 25 | — | $-681.0M | ||
| Q3 25 | $174.3M | $26.0M | ||
| Q2 25 | $156.9M | $64.0M | ||
| Q1 25 | $103.7M | $-188.0M | ||
| Q4 24 | $349.4M | $1.2B | ||
| Q3 24 | $-159.4M | $-876.0M | ||
| Q2 24 | $58.5M | $-754.0M | ||
| Q1 24 | $266.1M | $-1.3B |
自由现金流CIENRIVN
| Q4 25 | — | $-1.1B | ||
| Q3 25 | $134.6M | $-421.0M | ||
| Q2 25 | $128.2M | $-398.0M | ||
| Q1 25 | $76.8M | $-526.0M | ||
| Q4 24 | $265.8M | $856.0M | ||
| Q3 24 | $-179.0M | $-1.2B | ||
| Q2 24 | $41.6M | $-1.0B | ||
| Q1 24 | $249.5M | $-1.5B |
自由现金流率CIENRIVN
| Q4 25 | — | -89.0% | ||
| Q3 25 | 11.0% | -27.0% | ||
| Q2 25 | 11.4% | -30.5% | ||
| Q1 25 | 7.2% | -42.4% | ||
| Q4 24 | 23.6% | 49.4% | ||
| Q3 24 | -19.0% | -131.9% | ||
| Q2 24 | 4.6% | -89.6% | ||
| Q1 24 | 24.0% | -126.5% |
资本支出强度CIENRIVN
| Q4 25 | — | 36.0% | ||
| Q3 25 | 3.3% | 28.7% | ||
| Q2 25 | 2.6% | 35.5% | ||
| Q1 25 | 2.5% | 27.3% | ||
| Q4 24 | 7.4% | 18.9% | ||
| Q3 24 | 2.1% | 31.7% | ||
| Q2 24 | 1.9% | 24.4% | ||
| Q1 24 | 1.6% | 21.1% |
现金转化率CIENRIVN
| Q4 25 | — | — | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 17.50× | — | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | -11.20× | — | ||
| 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
