Question 1

What is Ciena's EV/EBITDA ratio?

Accepted Answer

Ciena (CIEN) EV/EBITDA ratio is 80.0× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Ciena?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Ciena specifically, the relevant sector benchmark is the current sector median of 20.3×.

Question 5

Is Ciena's EV/EBITDA ratio high or low?

Accepted Answer

Ciena's EV/EBITDA ratio of 80.0× is above its own 5-year average of 28.2× and above the sector median of 20.3×. That places the current reading at the 88th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Ciena's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Ciena (CIEN) EV/EBITDA ratio has ranged from a low of 9.1× in 2017 to a high of 354.3× in 2011. The 5-year average is 28.2× and the 5-year median is 18.5×.

Question 7

What was Ciena's EV/EBITDA ratio in 2025?

Accepted Answer

Ciena (CIEN) EV/EBITDA ratio at the end of 2025 was 69.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Ciena's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$26.9B	$388M	69.9×	+44.8×	Nov 1, 2025
2024	$9.26B	$384M	25.1×	+12.9×	Nov 2, 2024
2023	$6.22B	$554M	12.2×	-7.1×	Oct 31, 2023
2022	$7.12B	$370M	19.3×	+6.9×	Oct 31, 2022
2021	$8.58B	$626M	12.4×	+3.3×	Oct 31, 2021
2020	$6.09B	$620M	9.2×	-2.4×	Oct 31, 2020
2019	$5.75B	$473M	11.6×	-2.1×	Oct 31, 2019
2018	$4.49B	$314M	13.7×	+4.5×	Oct 31, 2018
2017	$3.04B	$335M	9.1×	-1.2×	Oct 31, 2017
2016	$2.71B	$285M	10.3×	-6.7×	Oct 31, 2016
2015	$3.24B	$211M	17.0×	-2.0×	Oct 31, 2015
2014	$1.79B	$133M	19.0×	-14.7×	Oct 31, 2014
2013	$2.41B	$93.4M	33.7×	+3.4×	Oct 31, 2013
2012	$1.24B	$65.5M	30.3×	-324.0×	Oct 31, 2012
2011	$1.28B	$6.16M	354.3×	—	Oct 31, 2011
2010	$1.28B	-$143M	—	—	Oct 31, 2010
2009	$1.08B	-$522M	—	—	Oct 31, 2009
2008	$865M	$79.5M	9.4×	-39.6×	Oct 31, 2008
2007	$4.13B	$76.8M	49.0×	-20.8×	Oct 31, 2007
2006	$1.99B	$28.9M	69.7×	—	Oct 31, 2006
2005	$1.37B	-$237M	—	—	Oct 31, 2005
2004	$1.37B	-$562M	—	—	Oct 31, 2004
2003	$3.03B	-$186M	—	—	Oct 31, 2003
2002	$1.58B	-$547M	—	—	Oct 31, 2002


Super Micro Computer (SMCI)	10.8×
Adobe (ADBE)	10.6×
Dell Technologies (DELL)	10.6×
NetApp (NTAP)	10.5×
PTC (PTC)	10.2×
Qorvo (QRVO)	10.2×
GoDaddy (GDDY)	10.1×
Gartner (IT)	10.1×
QUALCOMM (QCOM)	9.9×
Ondas Holdings (ONDS)	9.9×
EPAM Systems (EPAM)	9.6×
Accenture (ACN)	9.4×
Science Applications International (SAIC)	9.2×
Skyworks Solutions (SWKS)	9.2×
Amkor Technology (AMKR)	8.7×
Gen Digital (GEN)	8.3×
First Solar (FSLR)	8.3×
Corpay (CPAY)	8.3×
Paycom Software (PAYC)	8.1×
Zoom Communications (ZM)	7.5×
Fiserv (FISV)	7.4×
Cognizant (CTSH)	7.1×
HP (HPQ)	6.4×
Fidelity National Information Services (FIS)	4.8×
IBM (IBM)	3.8×

EV/EBITDA for Ciena (CIEN) 2006-2026

EV/EBITDA daily chart for Ciena (CIEN)

Historical EV/EBITDA for Ciena (CIEN) from 2002 to 2025

About EV/EBITDA at Ciena (CIEN)

Ciena EV/EBITDA by Year

Ciena EV/EBITDA 2025: 69.9×

Ciena EV/EBITDA 2024: 25.1×

Ciena EV/EBITDA 2023: 12.2×

Ciena EV/EBITDA 2022: 19.3×

Ciena EV/EBITDA 2021: 12.4×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Ciena (CIEN) Key Financials