Ciena Corporation

NYSE:CIEN Stock Report

Market Cap: US$22.5b

Ciena Valuation

Is CIEN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CIEN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$79.25
Fair Value
101.5% overvalued intrinsic discount
16
Number of Analysts

Below Fair Value: CIEN ($159.66) is trading above our estimate of fair value ($79.25)

Significantly Below Fair Value: CIEN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CIEN?

Key metric: As CIEN is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CIEN. This is calculated by dividing CIEN's market cap by their current revenue.
What is CIEN's PS Ratio?
PS Ratio5.1x
SalesUS$4.54b
Market CapUS$22.52b

Price to Sales Ratio vs Peers

How does CIEN's PS Ratio compare to its peers?

The above table shows the PS ratio for CIEN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average9.2x
FFIV F5
6.5x5.40%US$19.7b
UI Ubiquiti
16.4xn/aUS$41.3b
LITE Lumentum Holdings
6.9x20.84%US$11.6b
MSI Motorola Solutions
6.9x6.84%US$77.0b
CIEN Ciena
5x11.68%US$21.4b

Price-To-Sales vs Peers: CIEN is good value based on its Price-To-Sales Ratio (5x) compared to the peer average (9.1x).

Price to Sales Ratio vs Industry

How does CIEN's PS Ratio compare vs other companies in the US Communications Industry?

11 CompaniesPrice / SalesEstimated GrowthMarket Cap
CMTL Comtech Telecommunications
0.2x-2.61%US$85.54m
TESS TESSCO Technologies
0.2xn/aUS$83.30m
EMKR Emcore
0.3xn/aUS$28.11m
CMBM Cambium Networks
0.1x15.14%US$24.21m
CIEN 5.1xIndustry Avg. 2.2xNo. of Companies11PS01.63.24.86.48+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CIEN is expensive based on its Price-To-Sales Ratio (5x) compared to the US Communications industry average (2.2x).

Price to Sales Ratio vs Fair Ratio

What is CIEN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CIEN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.1x
Fair PS Ratio4.3x

Price-To-Sales vs Fair Ratio: CIEN is expensive based on its Price-To-Sales Ratio (5x) compared to the estimated Fair Price-To-Sales Ratio (4.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CIEN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$163.61
US$132.69
-18.90%
19.84%US$190.00US$79.00n/a16
Oct ’26US$151.72
US$132.69
-12.54%
19.84%US$190.00US$79.00n/a16
Sep ’26US$93.97
US$88.88
-5.42%
13.98%US$105.00US$66.00n/a16
Aug ’26US$88.63
US$86.25
-2.69%
14.52%US$105.00US$66.00n/a16
Jul ’26US$80.11
US$82.80
+3.36%
12.96%US$102.00US$66.00n/a16
Jun ’26US$80.06
US$79.14
-1.15%
18.64%US$100.00US$44.00n/a15
May ’26US$71.43
US$77.54
+8.55%
19.14%US$100.00US$44.00n/a15
Apr ’26US$61.54
US$83.14
+35.10%
13.60%US$100.00US$65.00n/a14
Mar ’26US$79.57
US$89.00
+11.85%
10.87%US$98.00US$60.00n/a14
Feb ’26US$87.14
US$90.07
+3.36%
11.28%US$105.00US$60.00n/a15
Jan ’26US$84.81
US$87.93
+3.68%
14.92%US$105.00US$57.00n/a15
Dec ’25US$69.72
US$65.73
-5.72%
12.09%US$80.00US$46.00n/a15
Nov ’25US$63.97
US$65.00
+1.61%
12.35%US$80.00US$46.00n/a15
Oct ’25US$61.45
US$62.13
+1.11%
9.10%US$68.00US$46.00US$151.7215
Sep ’25US$57.65
US$56.77
-1.53%
10.79%US$66.00US$44.00US$93.9715
Aug ’25US$51.29
US$56.43
+10.03%
10.27%US$66.00US$44.00US$88.6315
Jul ’25US$47.74
US$56.43
+18.21%
10.27%US$66.00US$44.00US$80.1115
Jun ’25US$48.17
US$57.30
+18.95%
12.27%US$68.00US$42.50US$80.0615
May ’25US$46.63
US$58.96
+26.45%
12.51%US$68.00US$42.50US$71.4316
Apr ’25US$49.19
US$60.17
+22.32%
11.08%US$68.00US$42.50US$61.5414
Mar ’25US$60.84
US$59.10
-2.86%
10.63%US$68.00US$42.50US$79.5714
Feb ’25US$54.09
US$59.43
+9.87%
11.15%US$70.00US$42.50US$87.1415
Jan ’25US$45.01
US$58.89
+30.84%
11.34%US$70.00US$42.50US$84.8115
Dec ’24US$46.75
US$59.19
+26.62%
10.34%US$70.00US$46.00US$69.7215
Nov ’24US$42.33
US$59.19
+39.84%
10.34%US$70.00US$46.00US$63.9715
Oct ’24US$47.26
US$59.19
+25.25%
10.34%US$70.00US$46.00US$61.4515
US$132.69
Fair Value
20.3% overvalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/09 21:39
End of Day Share Price 2025/10/09 00:00
Earnings2025/08/02
Annual Earnings2024/11/02

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ciena Corporation is covered by 48 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Edward ZabitskyACI Research
James KelleherArgus Research Company
Blair KingAvondale Partners