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Ciena vs Clearfield: revenue, profit, margins and growth compared

Ciena brought in $4.8B of revenue in fiscal 2025, Clearfield $150.1M in fiscal 2025. Revenue changed by +18.8% at Ciena and +19.6% at Clearfield on the year before, so Clearfield grew faster. Ciena kept 2.6% of its revenue as net profit, Clearfield -5.4%. Free cash flow was $665.3M at Ciena and $21.8M at Clearfield.

Side by side, latest fiscal year

CIENCLFD
Fiscal year endedFY2025 (November 1, 2025)FY2025 (September 30, 2025)
Revenue$4.8B$150.1M
Revenue growth+18.8%+19.6%
Net income$123.3M-$8.1M
Net margin2.6%-5.4%
Free cash flow$665.3M$21.8M
Free cash flow margin13.9%14.5%
Earnings per share (diluted)$0.85-$0.58
Cash$1.1B$21.5M
Debt$1.5Bn/a
Price to earnings419.9n/a
Market value$50.5B$422.1M
Dividend yieldn/an/a
Rank by revenue in sector#41 of 109 · Utilities#95 of 109 · Utilities

Over the years

Revenue
CIEN FY2019: $3.6BCIEN FY2020: $3.6BCIEN FY2020: $3.5BCIEN FY2021: $3.6BCIEN FY2022: $3.6BCIEN FY2023: $4.4BCIEN FY2024: $4BCIEN FY2025: $4.8BCLFD FY2018: $77.7MCLFD FY2019: $85MCLFD FY2020: $93.1MCLFD FY2021: $140.8MCLFD FY2022: $270.9MCLFD FY2023: $225.7MCLFD FY2024: $125.6MCLFD FY2025: $150.1MFY18FY19FY20FY21FY22FY23FY24FY25
CIEN $4.8BCLFD $150.1M
Net income
CIEN FY2019: $253.4MCIEN FY2020: $253.4MCIEN FY2020: $361.3MCIEN FY2021: $500.2MCIEN FY2022: $152.9MCIEN FY2023: $254.8MCIEN FY2024: $84MCIEN FY2025: $123.3MCLFD FY2018: $4.3MCLFD FY2019: $4.6MCLFD FY2020: $7.3MCLFD FY2021: $20.3MCLFD FY2022: $49.4MCLFD FY2023: $32.5MCLFD FY2024: -$12.5MCLFD FY2025: -$8.1MFY18FY19FY20FY21FY22FY23FY24FY25
CIEN $123.3MCLFD -$8.1M
Net margin
CIEN FY2019: 7.1%CIEN FY2020: 7.1%CIEN FY2020: 10.2%CIEN FY2021: 13.8%CIEN FY2022: 4.2%CIEN FY2023: 5.8%CIEN FY2024: 2.1%CIEN FY2025: 2.6%CLFD FY2018: 5.5%CLFD FY2019: 5.4%CLFD FY2020: 7.8%CLFD FY2021: 14.4%CLFD FY2022: 18.2%CLFD FY2023: 14.4%CLFD FY2024: -9.9%CLFD FY2025: -5.4%FY18FY19FY20FY21FY22FY23FY24FY25
CIEN 2.6%CLFD -5.4%
Revenue growth
CIEN FY2020: 0.0%CIEN FY2020: -1.1%CIEN FY2021: +2.5%CIEN FY2022: +0.3%CIEN FY2023: +20.8%CIEN FY2024: -8.5%CIEN FY2025: +18.8%CLFD FY2019: +9.5%CLFD FY2020: +9.5%CLFD FY2021: +51.2%CLFD FY2022: +92.5%CLFD FY2023: -16.7%CLFD FY2024: -44.4%CLFD FY2025: +19.6%FY19FY20FY21FY22FY23FY24FY25
CIEN +18.8%CLFD +19.6%
Free cash flow
CIEN FY2019: $350.6MCIEN FY2020: $350.6MCIEN FY2020: $411MCIEN FY2021: $462.1MCIEN FY2022: -$258.6MCIEN FY2023: $62.1MCIEN FY2024: $377.9MCIEN FY2025: $665.3MCLFD FY2018: $3.4MCLFD FY2019: $12.2MCLFD FY2020: $4.8MCLFD FY2021: $8.9MCLFD FY2022: -$6.2MCLFD FY2023: $10.7MCLFD FY2024: $12.7MCLFD FY2025: $21.8MFY18FY19FY20FY21FY22FY23FY24FY25
CIEN $665.3MCLFD $21.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Ciena and Clearfield

Which is bigger by revenue, Ciena or Clearfield?

Ciena is bigger by revenue: $4.8B in fiscal 2025, against $150.1M for Clearfield in fiscal 2025.

Which keeps more of its revenue as profit, Ciena or Clearfield?

Ciena had a net margin of 2.6% in fiscal 2025; Clearfield had -5.4% in fiscal 2025.

Which grew revenue faster, Ciena or Clearfield?

In their latest fiscal years revenue changed by +18.8% at Ciena and +19.6% at Clearfield.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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