Ciena vs Viasat
Ciena and Viasat are similar in size: $4.77bn and $4.64bn of revenue in their latest fiscal years. Ciena grew faster (18.8% against 2.7%). Ciena kept more of each dollar of sales as profit: a net margin of 2.6% against -0.7%. Ciena carries less debt relative to equity (56.3% against 141.3%).
| Latest fiscal year | CienaCIEN, 2025 | ViasatVSAT, 2026 |
|---|---|---|
| Revenue | $4.77bn | $4.64bn |
| Revenue growth | 18.8% | 2.7% |
| Net income | $123m | −$34.1m |
| Operating margin | 4.1% | 2.3% |
| Net margin | 2.6% | -0.7% |
| Return on equity | 4.4% | -0.7% |
| Free cash flow | $665m | $1.59bn |
| Cash | $1.09bn | $1.75bn |
| Total debt | $1.54bn | $6.59bn |
| Debt to equity | 56.3% | 141.3% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $335m | — |
| Employees | 9,080 | — |
| Market value | $42.31bn | $10.33bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 71 (Strong) | 19 (Weak) |
| Insider trades, 12 months | 0 buys, 90 sales | 0 buys, 63 sales |