Is it safe?
Can CIEN take a bad year?
Ciena carries $600M of net debt at 0.74× EBITDA: a load its earnings can carry.
$600M
Net debt · as at Q3 2026 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 0.74×
Net debt / EBITDA · 0.69× a year ago · the load is going up
- Altman Z-score
- 13.20
Altman Z-score · safe zone, above 3
- Interest cover
- 10.6×
Interest cover · operating profit covers the interest bill several times over
Details›
- Total debtQ3 2026
- $3.23B
- Cash and short-term investments
- $2.63B
- Net debt
- $600M
- EBITDA, trailing twelve months
- $806M
- Operating profit, trailing twelve months
- $739M
- Debt / equity
- 1.06×
- Total debt / EBITDA
- 4.01×
- Annualised volatilitytwo years of daily moves
- 65%
- Worst drawdown on file
- −50%
- Below its 52-week high
- 46%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
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