Ciena Corporation (CIEN) Stock Analysis
Over the past 10 years, Ciena (CIEN) earnings per share (EPS) grew 24.2% a year, revenue grew 6.9% a year and free cash flow grew 12.8% a year, with an average return on invested capital (ROIC) of 4.6%. CIEN stock trades at $441.85, a P/E of 77.8, below its historical average of 126.9. Analysts' average 12-month price target is $500.38 (+13.2%).
Ciena Corporation is a global technology company focused on telecommunications infrastructure. It delivers integrated solutions – including specialized hardware, software applications, and professional services – designed to facilitate the efficient transmission, routing, switching, aggregation, delivery, and overall.
Exhibit A Growth Dossier
| Metric | 10yr | 5yr | 1yr | Grade |
|---|---|---|---|---|
| Book Value/Share GrowthBV/S | 13.8% | 3.1% | 8.6% | B |
| EPS GrowthEPS | 24.2% | -18.0% | 150.2% | B+ |
| Revenue GrowthRevenue | 6.9% | 6.2% | 32.6% | A- |
| Cash Flow GrowthCash Flow | 12.8% | 10.1% | 2.6% | B |
| ROICROIC | 4.6% | 6.5% | 5.3% | C+ |
Exhibit B Valuation Ledger
- Current EPS
- $5.68
- Historical Avg P/E
- 126.9
- Future P/E (used for sticker price)
- Projected EPS (10yr)
- Sticker Price (10yr)
- Price for 15% Annual Return
- Expected Annual Return
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Not investment advice — a structured read of historical fundamentals, not a forecast or recommendation. Always do your own research.
Exhibit C Raw Data (last 10 years)
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / ShareBV/S | $5.17 | $5.09 | $12.57 | $13.42 | $13.79 | $16.09 | $19.27 | $17.83 | $19.07 | $19.29 | $18.79 | $20.94 | |
| Basic EPSEPS | $0.10 | $0.52 | $8.89 | -$2.49 | $1.63 | $2.34 | $3.22 | $1.01 | $1.71 | $0.58 | $0.87 | $5.68 | |
| RevenueRevenue | $2,445,669,000 | $2,600,573,000 | $2,801,687,000 | $3,094,286,000 | $3,572,131,000 | $3,532,157,000 | $3,620,684,000 | $3,632,661,000 | $4,386,549,000 | $4,014,955,000 | $4,769,507,000 | $6,020,894,000 | |
| Free Cash FlowCash Flow | $200,003,000 | $182,335,000 | $140,282,000 | $161,645,000 | $350,561,000 | $410,987,000 | $462,096,000 | $-258,574,000 | $62,135,000 | $377,891,000 | $665,292,000 | $718,989,000 | |
| ROIC (%)ROIC | 2.5% | 5.9% | 6.6% | -19.1% | 9.2% | 11.2% | 12.5% | 5.3% | 6.5% | 2.9% | 5.3% | — |
The exact underlying data used to compute the growth rates and grades above. The highlighted TTM column is the trailing twelve months through the most recently reported quarter.
Ticker INVESTigator Price Target
Analyst Data
Price Target
Where the stock trades today vs. the range of 12-month price targets from covering analysts.
42 firms rate it — 33 buy, 9 hold · Most recent Sep 2026
CIEN Stock FAQ
What is CIEN's stock price target?
The average 12-month analyst price target for CIEN is $500.38, with a range of $347.00 to $615.00. That is +13.2% from the current price of $441.85.
Do analysts rate CIEN a buy?
Most rate it a buy. Of 42 firms covering Ciena, the ratings are 33 buy or strong buy, 9 hold and 0 sell or strong sell.
How fast is Ciena growing?
Annual growth rates for CIEN. EPS: 24.2% over 10 years, -18.0% over 5 years, 150.2% over 1 year. Revenue: 6.9% over 10 years, 6.2% over 5 years, 32.6% over 1 year. Free cash flow: 12.8% over 10 years, 10.1% over 5 years, 2.6% over 1 year. Book value per share: 13.8% over 10 years, 3.1% over 5 years, 8.6% over 1 year.
What is CIEN's ROIC?
Ciena's return on invested capital (ROIC) was 5.3% in fiscal 2025. Its 10-year average ROIC is 4.6%. ROIC above 10% is generally a sign of a business with a durable competitive advantage.
What is CIEN's P/E ratio?
CIEN's current P/E ratio is 77.8, compared with a historical average of 126.9. Trailing earnings per share are $5.68.
What is Ciena's market cap and stock price?
CIEN last traded at $441.85 as of October 8, 2026. Its 52-week range is $153.27 to $637.51. Ciena has a market cap of $62.55B.
Exhibit D Related Coverage
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Data as of October 8, 2026. Findings are derived from historical fundamentals — not a forecast, not advice. Cross-examine before you invest.
Grades are produced by Ticker INVESTigator's own model from public financial data and are for informational and educational purposes only. They are not investment advice or a recommendation to buy or sell any security. Do your own research.