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CIENA CORP（CIEN）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是CIENA CORP的1.2倍（$1.5B vs $1.2B），CIENA CORP净利率更高（4.1% vs -3.1%，领先7.3%），CIENA CORP自由现金流更多（$134.6M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
CIEN vs RXO — 直观对比
营收规模更大
RXO
是对方的1.2倍
$1.2B
净利率更高
CIEN
高出7.3%
-3.1%
自由现金流更多
CIEN
多$143.6M
$-9.0M
两年增速更快
RXO
近两年复合增速
3.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $50.3M | $-46.0M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 6.0% | -2.9% |
| 净利率 | 4.1% | -3.1% |
| 营收同比 | — | -11.9% |
| 净利润同比 | — | -84.0% |
| 每股收益（稀释后） | $0.35 | $-0.28 |
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CIENRXO
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $942.3M | $1.0B | ||
| Q2 24 | $910.8M | $930.0M | ||
| Q1 24 | $1.0B | $913.0M |
净利润CIENRXO
| Q4 25 | — | $-46.0M | ||
| Q3 25 | $50.3M | $-14.0M | ||
| Q2 25 | $9.0M | $-9.0M | ||
| Q1 25 | $44.6M | $-31.0M | ||
| Q4 24 | $37.0M | $-25.0M | ||
| Q3 24 | $14.2M | $-243.0M | ||
| Q2 24 | $-16.8M | $-7.0M | ||
| Q1 24 | $49.5M | $-15.0M |
毛利率CIENRXO
| Q4 25 | — | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 40.2% | — | ||
| Q1 25 | 44.0% | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.9% | — | ||
| Q2 24 | 42.7% | — | ||
| Q1 24 | 45.0% | — |
营业利润率CIENRXO
| Q4 25 | — | -2.9% | ||
| Q3 25 | 6.0% | -0.5% | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 7.5% | -2.1% | ||
| Q4 24 | 5.3% | -1.4% | ||
| Q3 24 | 2.8% | -1.9% | ||
| Q2 24 | -0.4% | — | ||
| Q1 24 | 8.2% | -1.3% |
净利率CIENRXO
| Q4 25 | — | -3.1% | ||
| Q3 25 | 4.1% | -1.0% | ||
| Q2 25 | 0.8% | -0.6% | ||
| Q1 25 | 4.2% | -2.2% | ||
| Q4 24 | 3.3% | -1.5% | ||
| Q3 24 | 1.5% | -23.4% | ||
| Q2 24 | -1.8% | -0.8% | ||
| Q1 24 | 4.8% | -1.6% |
每股收益（稀释后）CIENRXO
| Q4 25 | — | $-0.28 | ||
| Q3 25 | $0.35 | $-0.08 | ||
| Q2 25 | $0.06 | $-0.05 | ||
| Q1 25 | $0.31 | $-0.18 | ||
| Q4 24 | $0.26 | $-0.17 | ||
| Q3 24 | $0.10 | $-1.81 | ||
| Q2 24 | $-0.12 | $-0.06 | ||
| Q1 24 | $0.34 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | — | $387.0M |
| 股东权益账面价值 | $2.8B | $1.5B |
| 总资产 | $5.7B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资CIENRXO
| Q4 25 | — | $17.0M | ||
| Q3 25 | $1.3B | $25.0M | ||
| Q2 25 | $1.3B | $18.0M | ||
| Q1 25 | $1.2B | $16.0M | ||
| Q4 24 | $1.3B | $35.0M | ||
| Q3 24 | $1.1B | $55.0M | ||
| Q2 24 | $1.3B | $7.0M | ||
| Q1 24 | $1.4B | $7.0M |
总债务CIENRXO
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益CIENRXO
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.8B | $1.6B | ||
| Q2 25 | $2.8B | $1.6B | ||
| Q1 25 | $2.8B | $1.6B | ||
| Q4 24 | $2.8B | $1.6B | ||
| Q3 24 | $2.9B | $1.7B | ||
| Q2 24 | $2.9B | $579.0M | ||
| Q1 24 | $2.9B | $582.0M |
总资产CIENRXO
| Q4 25 | — | $3.3B | ||
| Q3 25 | $5.7B | $3.2B | ||
| Q2 25 | $5.7B | $3.2B | ||
| Q1 25 | $5.6B | $3.3B | ||
| Q4 24 | $5.6B | $3.4B | ||
| Q3 24 | $5.6B | $3.4B | ||
| Q2 24 | $5.6B | $1.8B | ||
| Q1 24 | $5.6B | $1.8B |
负债/权益比CIENRXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $134.6M | $-9.0M |
| 自由现金流率自由现金流/营收 | 11.0% | -0.6% |
| 资本支出强度资本支出/营收 | 3.3% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流CIENRXO
| Q4 25 | — | $7.0M | ||
| Q3 25 | $174.3M | $23.0M | ||
| Q2 25 | $156.9M | $23.0M | ||
| Q1 25 | $103.7M | $-2.0M | ||
| Q4 24 | $349.4M | $-7.0M | ||
| Q3 24 | $-159.4M | $-7.0M | ||
| Q2 24 | $58.5M | $-5.0M | ||
| Q1 24 | $266.1M | $7.0M |
自由现金流CIENRXO
| Q4 25 | — | $-9.0M | ||
| Q3 25 | $134.6M | $9.0M | ||
| Q2 25 | $128.2M | $9.0M | ||
| Q1 25 | $76.8M | $-17.0M | ||
| Q4 24 | $265.8M | $-19.0M | ||
| Q3 24 | $-179.0M | $-18.0M | ||
| Q2 24 | $41.6M | $-16.0M | ||
| Q1 24 | $249.5M | $-4.0M |
自由现金流率CIENRXO
| Q4 25 | — | -0.6% | ||
| Q3 25 | 11.0% | 0.6% | ||
| Q2 25 | 11.4% | 0.6% | ||
| Q1 25 | 7.2% | -1.2% | ||
| Q4 24 | 23.6% | -1.1% | ||
| Q3 24 | -19.0% | -1.7% | ||
| Q2 24 | 4.6% | -1.7% | ||
| Q1 24 | 24.0% | -0.4% |
资本支出强度CIENRXO
| Q4 25 | — | 1.1% | ||
| Q3 25 | 3.3% | 1.0% | ||
| Q2 25 | 2.6% | 1.0% | ||
| Q1 25 | 2.5% | 1.0% | ||
| Q4 24 | 7.4% | 0.7% | ||
| Q3 24 | 2.1% | 1.1% | ||
| Q2 24 | 1.9% | 1.2% | ||
| Q1 24 | 1.6% | 1.2% |
现金转化率CIENRXO
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
