Ciena Corporation

CIENNYSETechnology● Active

$488.21

$-47.42(-8.85%)

Market Cap$69.1B

P/E Ratio—

52W High$637.51

52W Low$70.77

Avg Volume2.7M

Open$512.31

Beta1.24

Overview

Ciena Corporation (CIEN) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CIEN · free cash flow · updated Jun 8, 2026

Core FCF metrics

CIEN · FCF · TTM · margin & CAGR

Free cash flow was $665.3M for FY2025 (fiscal year ending 2025-11-01), up 76.1% year-over-year The FCF margin was 13.9%. Five-year CAGR stands at +10.1%.

FY2025 Free Cash Flow$665.3M▲ +76.1% YoY

Trailing 12M (TTM)$832.7Mtrailing 4 quarters sum

FCF Margin13.9%$665.3M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGR+10.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CIEN · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$806.1M(141M)$665.3M▲ +76.1%13.9%

FY2024$514.5M(137M)$377.9M▲ +508.2%9.4%

FY2023$168.3M(106M)$62.1M▲ +124.0%1.4%

FY2022−$167.8M(91M)−$258.6M▼ 156.0%-7.1%

FY2021$541.6M(80M)$462.1M▲ +12.4%12.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CIEN · P/FCF · FCF yield · FCF per share

Ciena Corporation (CIEN) trades at a FCF yield of 1.20% and a price-to-free-cash-flow ratio of 83.5x. FCF per share stands at $5.85, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.20%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$5.85

TTM FCF ÷ Shares Outstanding

Price / FCF

x83.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x83.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-11-01

Cash flow statement summary

CIEN · cash flow statement · operating / investing / financing

For FY2025, Ciena Corporation generated $806.1M in operating cash flow and spent 141M in capital expenditures, yielding $665.3M in free cash flow.

Operating Activities

+$806.1M

Cash from core business operations

2025-11-01

Investing Activities

−$241.5M

CapEx, acquisitions & investments

2025-11-01

Financing Activities

−$405.9M

Buybacks, dividends & debt

2025-11-01

FCF FormulaOperating CF ($806.1M) − |CapEx| (141M) = FCF ($665.3M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

CIEN vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Ciena CorporationYOU

CIEN

$665.3M+76.1%13.9%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Ciena Corporation (CIEN) reported free cash flow of $665.3M for FY2025 (fiscal year ending 2025-11-01), up 76.1% year-over-year. The FCF margin was 13.9%.

Based on available data, Ciena Corporation has maintained positive free cash flow for at least 13 fiscal year(s). FCF peaked at $665.3M in FY2025. The 5-year CAGR stands at +10.1%.

Ciena Corporation's FCF yield is 1.20% and price-to-FCF ratio is 83.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CIEN free cash flow · 8 questions

Ciena Corporation free cash flow was $665.3M for FY2025, up 76.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $832.7M.

CIEN free cash flowCIEN FCFCIEN FCF 2025CIEN free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Ciena Corporation · Ciena Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026