CIEN

NYSE

CIENA CORP

Information Technology, Communications Equipment

$412.39

close 7 Aug 2026

+341.63%

52-week change

$58.39B

market cap

$84.41

$637.51

52-week range

Expected price

$130.19 – $159.13

Current price

$412.39

Signal

Could be overvalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)137.46x

P/S (TTM)10.49x

P/B20.19x

EV/EBITDA (TTM)94.93x

FCF yield (TTM)1.43%

PEG (TTM, GAAP)—

Context

P/E, own 5-year average94.29x

P/E, sector median37.34x*

Price at 5-year median P/E$136.59*

Forward — analyst consensus

Forward P/E (FY2026)63.06x*

Forward P/E (FY2027)42.79x

Forward PEG1.33*

Consensus EPS FY2026 (19 analysts)$6.54

EPS growth (FY2026→FY2027)47.38%

Revenue growth (FY2026)32.68%

Street view

Price target (mean)$565.71*

Target upside37.18%

Ratings (buy / hold / sell)13 / 6 / 1

FY2026 EPS revisions, 30d (up / down)18 / 1

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

period to 2 May 2026, filed 4 Jun 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR +10.11%10Y CAGR +12.77%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$412.39

Cash & equivalents$1.05B

Total debt$1.53B

Shares outstanding141.60M

Result

DCF price per share$195.06

Current price$412.39

Margin of safety-52.70%

PV of years 1–10$9.28B

PV of terminal value$18.83B

Equity value$27.62B

Market-implied growth+19.74%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$916.84M	$1.01B	$1.11B	$1.22B	$1.35B	$1.48B	$1.63B	$1.80B	$1.98B	$2.18B	$40.65B
PV	$848.93M	$865.51M	$882.42M	$899.66M	$917.24M	$935.16M	$953.43M	$972.06M	$991.05M	$1.01B	$18.83B

period to 2 May 2026, filed 4 Jun 2026, close 7 Aug 2026