Ciena Corporation (CIEN) Balance Sheet
CIEN balance sheet, FY2025
October 31, 2025 · U.S. dollars$5.86B assets = $3.14B liabilities + $2.73B equity
Both columns are drawn to the same scale: what CIEN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CIEN financial health
Current ratio2.73
Comfortable · current assets cover current liabilities 2.73×
Debt / equity0.58
Moderate leverage · $0.58 of debt for each $1 of equity
Equity / assets46.5%
Equity-funded · of assets funded by shareholders
Cash / debt82.7%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles12.7%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
CIEN balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.88BFY2016 | $5.86BFY2025 | +8.2%/yr | |
| Total liabilities | $2.12BFY2016 | $3.14BFY2025 | +4.5%/yr | |
| Shareholders’ equity | $766.3MFY2016 | $2.73BFY2025 | +15.2%/yr | |
| Cash & short-term investments | $1.05BFY2016 | $1.31BFY2025 | +2.4%/yr | |
| Total debt | $1.29BFY2016 | $1.58BFY2025 | +2.3%/yr | |
| Net cash (debt) | −$236.0MFY2016 | −$274.1MFY2025 | −$38.1M | |
| Working capital | $1.10BFY2016 | $2.26BFY2025 | +$1.2B | |
| Book value per share | $5.09FY2016 | $18.79FY2025 | +15.6%/yr | |
| Current ratio | 2.24FY2016 | 2.73FY2025 | +0.49 | |
| Debt / equity | 1.68FY2016 | 0.58FY2025 | −1.10 | |
| Shares outstanding | 150.7MFY2016 | 145.2MFY2025 | −0.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CIEN assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
CIEN liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
CIEN debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CIEN balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.31B | $1.25B | $1.12B | $1.15B | $1.60B | $1.24B | $1.01B | $894.4M | $919.6M | $1.05B |
| Cash & equivalents | $1.09B | $934.9M | $1.01B | $994.4M | $1.42B | $1.09B | $904.0M | $745.4M | $640.5M | $777.6M |
| Short-term investments | $216.1M | $316.3M | $104.8M | $154.0M | $181.5M | $150.7M | $109.9M | $149.0M | $279.1M | $275.2M |
| Receivables | $1.20B | $1.25B | $1.19B | $1.10B | $1.00B | $827.2M | $837.0M | $812.8M | $633.9M | $584.4M |
| Inventory | $826.2M | $820.4M | $1.05B | $946.7M | $374.3M | $344.4M | $345.0M | $262.8M | $267.1M | $211.3M |
| Other current assets | $234.4M | $202.1M | $197.5M | $190.0M | $183.9M | $188.4M | $173.9M | $153.3M | $158.7M | $145.6M |
| Total current assets | $3.57B | $3.52B | $3.55B | $3.39B | $3.17B | $2.60B | $2.37B | $2.12B | $1.98B | $1.99B |
| Property, plant & equipment (net) | $38.6M | $365.1M | $315.3M | $312.9M | $329.3M | $329.4M | $286.9M | $292.1M | $308.5M | $288.4M |
| Goodwill & intangible assets | $745.4M | $609.7M | $650.4M | $397.8M | $377.0M | $407.5M | $410.7M | $446.2M | $368.5M | $413.7M |
| Long-term investments | $78.9M | $102.7M | $134.3M | $35.4M | $70.0M | $82.2M | $10.0M | $59.0M | $49.8M | $90.2M |
| Other non-current assets | $1.44B | $1.04B | $950.3M | $937.6M | $922.1M | $762.5M | $815.7M | $836.0M | $1.25B | $96.1M |
| Total assets | $5.86B | $5.64B | $5.60B | $5.07B | $4.87B | $4.18B | $3.89B | $3.76B | $3.95B | $2.88B |
| Liabilities | ||||||||||
| Accounts payable | $542.8M | $423.4M | $317.8M | $516.0M | $356.2M | $291.9M | $344.8M | $340.6M | $260.1M | $235.9M |
| Short-term debt | $30.3M | $30.6M | $32.3M | $29.6M | $29.2M | $28.8M | $9.8M | $10.5M | $356.1M | $238.6M |
| Deferred revenue | $208.9M | $156.4M | $154.4M | $137.9M | $118.0M | $108.7M | $111.4M | $111.1M | $102.4M | $109.0M |
| Total current liabilities | $1.31B | $999.8M | $932.0M | $1.04B | $909.0M | $760.7M | $845.9M | $963.0M | $1.04B | $891.9M |
| Long-term debt | $1.52B | $1.53B | $1.54B | $1.06B | $670.4M | $676.4M | $680.4M | $686.5M | $583.7M | $1.03B |
| Lease obligations | $89.8M | $87.5M | $49.9M | $61.3M | $60.2M | $80.5M | $68.0M | $71.8M | $77.2M | $26.6M |
| Other long-term liabilities | $302.8M | $292.3M | $277.7M | $255.1M | $265.8M | $234.3M | $194.2M | $177.7M | $193.9M | $198.2M |
| Total liabilities | $3.14B | $2.83B | $2.75B | $2.36B | $1.85B | $1.67B | $1.72B | $1.83B | $1.82B | $2.12B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.4M | $1.4M | $1.4M | $1.5M | $1.5M | $1.5M | $1.5M | $6.88B | $6.81B | $6.72B |
| Retained earnings (deficit) | −$3.17B | −$3.29B | −$3.38B | −$3.63B | −$3.79B | −$4.28B | −$4.64B | −$4.95B | −$4.66B | −$5.93B |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | −$55.0M | −$46.7M | −$37.8M | −$46.6M | $439,000 | −$35.4M | −$22.1M | −$5.8M | −$11.0M | −$24.3M |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $2.73B | $2.82B | $2.85B | $2.71B | $3.02B | $2.51B | $2.17B | $1.93B | $2.14B | $766.3M |
| Key figures | ||||||||||
| Total debt | $1.58B | $1.63B | $1.66B | $1.19B | $803.7M | $828.1M | $755.5M | $693.5M | $936.0M | $1.29B |
| Net cash (debt) | −$274.1M | −$381.0M | −$541.8M | −$38.0M | $800.3M | $411.2M | $258.5M | $201.0M | −$16.3M | −$236.0M |
| Working capital | $2.26B | $2.52B | $2.62B | $2.35B | $2.26B | $1.84B | $1.52B | $1.16B | $941.6M | $1.10B |
| Tangible book value | $1.98B | $2.21B | $2.20B | $2.32B | $2.64B | $2.10B | $1.76B | $1.48B | $1.77B | $352.7M |
| Book value per share | $18.79 | $19.29 | $19.07 | $17.83 | $19.27 | $16.09 | $13.79 | $13.42 | $12.57 | $5.09 |
| Shares outstanding | 145.2M | 146.0M | 149.4M | 152.2M | 156.7M | 156.0M | 157.6M | 143.7M | 169.9M | 150.7M |
| Current ratio | 2.73 | 3.52 | 3.81 | 3.25 | 3.48 | 3.42 | 2.80 | 2.20 | 1.91 | 2.24 |
| Quick ratio | 1.91 | 2.50 | 2.47 | 2.16 | 2.87 | 2.72 | 2.19 | 1.77 | 1.50 | 1.84 |
| Debt / equity | 0.58 | 0.58 | 0.58 | 0.44 | 0.27 | 0.33 | 0.35 | 0.36 | 0.44 | 1.68 |
| Equity / assets | 46.5% | 49.9% | 50.9% | 53.5% | 62.1% | 60.0% | 55.8% | 51.4% | 54.1% | 26.6% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.63B | $1.20B | $1.30B | $1.31B | $1.33B | $1.25B | $1.21B | $1.25B | $1.10B | $1.26B | $1.37B | $1.12B |
| Cash & equivalents | $2.45B | $1.05B | $1.12B | $1.09B | $1.06B | $949.8M | $874.7M | $934.9M | $883.4M | $1.09B | $1.26B | $1.01B |
| Short-term investments | $184.3M | $157.7M | $176.3M | $216.1M | $270.4M | $304.2M | $337.3M | $316.3M | $217.8M | $165.6M | $106.7M | $104.8M |
| Receivables | $1.23B | $1.22B | $1.11B | $1.20B | $1.19B | $1.08B | $938.7M | $1.25B | $1.09B | $1.03B | $1.04B | $1.19B |
| Inventory | $872.0M | $808.4M | $845.8M | $826.2M | $860.4M | $874.3M | $845.1M | $820.4M | $937.4M | $1.02B | $984.9M | $1.05B |
| Other current assets | $527.0M | $340.7M | $281.7M | $234.4M | $309.6M | $354.5M | $495.8M | $202.1M | $394.9M | $210.8M | $191.8M | $197.5M |
| Total current assets | $5.26B | $3.57B | $3.54B | $3.57B | $3.69B | $3.56B | $3.49B | $3.52B | $3.52B | $3.52B | $3.59B | $3.55B |
| Property, plant & equipment (net) | $45.7M | $38.5M | $40.5M | $38.6M | $40.3M | $388.0M | $25.1M | $365.1M | $327.9M | $304.6M | $316.0M | $315.3M |
| Goodwill & intangible assets | $702.2M | $722.6M | $734.4M | $745.4M | $583.5M | $592.3M | $600.5M | $609.7M | $619.8M | $629.9M | $640.8M | $650.4M |
| Long-term investments | $213.6M | $200.1M | $69.9M | $78.9M | $64.4M | $92.1M | $105.0M | $102.7M | $133.6M | $182.3M | $103.9M | $134.3M |
| Other non-current assets | $1.77B | $1.51B | $1.51B | $1.44B | $1.37B | $1.02B | $1.35B | $1.04B | $975.3M | $976.8M | $946.7M | $950.3M |
| Total assets | $8.00B | $6.04B | $5.89B | $5.86B | $5.75B | $5.66B | $5.57B | $5.64B | $5.58B | $5.61B | $5.59B | $5.60B |
| Liabilities | ||||||||||||
| Accounts payable | $654.1M | $606.6M | $547.2M | $542.8M | $464.7M | $419.1M | $395.8M | $423.4M | $316.6M | $332.1M | $316.1M | $317.8M |
| Short-term debt | $12.3M | $29.0M | $29.8M | $30.3M | $26.3M | $24.8M | $24.6M | $30.6M | $31.6M | $32.1M | $32.8M | $32.3M |
| Deferred revenue | $211.5M | $238.4M | $290.4M | $208.9M | $196.2M | $221.8M | $174.2M | $156.4M | $179.5M | $197.0M | $166.7M | $154.4M |
| Total current liabilities | $1.39B | $1.31B | $1.26B | $1.31B | $1.12B | $1.05B | $956.5M | $999.8M | $870.6M | $912.2M | $841.3M | $932.0M |
| Long-term debt | $3.23B | $1.52B | $1.52B | $1.52B | $1.53B | $1.53B | $1.53B | $1.53B | $1.54B | $1.54B | $1.54B | $1.54B |
| Lease obligations | $56.0M | $49.5M | $52.3M | $89.8M | $49.2M | $48.3M | $35.8M | $87.5M | $46.6M | $48.9M | $53.5M | $49.9M |
| Other long-term liabilities | $324.7M | $319.1M | $316.9M | $302.8M | $311.5M | $307.2M | $291.9M | $292.3M | $275.4M | $281.7M | $285.3M | $277.7M |
| Total liabilities | $4.94B | $3.15B | $3.10B | $3.14B | $2.96B | $2.88B | $2.78B | $2.83B | $2.68B | $2.73B | $2.67B | $2.75B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M |
| Retained earnings (deficit) | −$2.54B | −$2.80B | −$3.02B | −$3.17B | −$3.19B | −$3.24B | −$3.25B | −$3.29B | −$3.33B | −$3.34B | −$3.33B | −$3.38B |
| Accumulated other comprehensive income | −$65.0M | −$40.1M | −$38.7M | −$55.0M | −$44.8M | −$39.6M | −$67.3M | −$46.7M | −$40.2M | −$21.7M | −$24.9M | −$37.8M |
| Total shareholders' equity | $3.06B | $2.89B | $2.79B | $2.73B | $2.79B | $2.78B | $2.79B | $2.82B | $2.89B | $2.88B | $2.92B | $2.85B |
| Key figures | ||||||||||||
| Total debt | $237.2M | $1.58B | $1.59B | $1.58B | $1.59B | $1.59B | $1.58B | $1.63B | $1.60B | $1.60B | $1.61B | $1.66B |
| Net cash (debt) | $2.39B | −$377.7M | −$288.9M | −$274.1M | −$260.9M | −$334.7M | −$366.4M | −$381.0M | −$495.5M | −$344.3M | −$236.9M | −$541.8M |
| Working capital | $3.88B | $2.26B | $2.28B | $2.26B | $2.56B | $2.52B | $2.54B | $2.52B | $2.65B | $2.61B | $2.74B | $2.62B |
| Tangible book value | $2.35B | $2.17B | $2.06B | $1.98B | $2.20B | $2.18B | $2.19B | $2.21B | $2.27B | $2.25B | $2.28B | $2.20B |
| Book value per share | $20.94 | $19.77 | $19.15 | $18.76 | $19.29 | $19.15 | $19.14 | $19.29 | $19.89 | $19.88 | $20.04 | $19.26 |
| Shares outstanding | 146.0M | 146.3M | 145.8M | 145.5M | 144.5M | 145.0M | 145.9M | 146.0M | 145.4M | 144.9M | 145.8M | 147.9M |
| Current ratio | 3.80 | 2.73 | 2.81 | 2.73 | 3.28 | 3.40 | 3.65 | 3.52 | 4.04 | 3.86 | 4.26 | 3.81 |
| Quick ratio | 2.79 | 1.85 | 1.92 | 1.91 | 2.24 | 2.23 | 2.25 | 2.50 | 2.51 | 2.51 | 2.86 | 2.47 |
| Debt / equity | 0.08 | 0.55 | 0.57 | 0.58 | 0.57 | 0.57 | 0.57 | 0.58 | 0.55 | 0.56 | 0.55 | 0.58 |
| Equity / assets | 38.2% | 47.9% | 47.4% | 46.5% | 48.5% | 49.1% | 50.1% | 49.9% | 51.9% | 51.3% | 52.3% | 50.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 12, 2025); data from EODHD.
CIEN financial position
At the end of fiscal 2025 (October 31, 2025), Ciena had total assets of $5.9 billion (up 4.0% from a year earlier), total liabilities of $3.1 billion and shareholders' equity of $2.7 billion. It held $1.3 billion in cash and short-term investments against $1.6 billion of debt, net debt of $274.1 million. Its current ratio was 2.73. In the latest quarter (ended July 31, 2026) total assets were $8.0 billion and equity $3.1 billion.
Related: CIEN income statement, CIEN cash flow statement, CIEN key metrics. See the CIEN stock overview for the latest quote and news.
CIEN balance sheet FAQ
What are Ciena's total assets?
Ciena reported total assets of $5.9 billion at the end of fiscal 2025 (October 31, 2025), compared with $5.6 billion a year earlier.
How much debt does Ciena have?
Ciena had $1.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.58.
How much cash does Ciena have?
Ciena held $1.3 billion in cash and short-term investments at the end of fiscal 2025; with $1.6 billion of debt that is net debt of $274.1 million.
What is Ciena's book value?
Ciena's shareholders' equity (book value) was $2.7 billion at the end of fiscal 2025, or $18.79 per share.
What is Ciena's current ratio?
Ciena had current assets of $3.6 billion and current liabilities of $1.3 billion, a current ratio of 2.73 (it can cover its short-term obligations).
How much goodwill does Ciena have?
Ciena carried $745.4 million of goodwill and intangible assets, 12.7% of total assets, at the end of fiscal 2025.