Ciena (CIEN) FY2023 results: revenue $4.4 billion, up 20.8% on the year
Ciena Corp. (CIEN) reported revenue of $4.4 billion for fiscal 2023, the year ended 28 October 2023, up 20.8% on the year before. Net income was $255 million, up 66.7%, and diluted earnings per share $1.71. The figures are the company's own, from the 10-K it filed with the SEC on 15 December 2023.
Revenue
$4.4 billion
+20.8% on the year
FY2016FY2023
Operating margin
8.2%
6.1% a year earlier
FY2016FY2023
Net income
$255 million
+66.7% on the year
FY2016FY2023
Diluted EPS
$1.71
+71.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
168
-168
542
Capital expenditure
106
90.8
79.5
+16.9%
Free cash flow
62.1
-259
462
Free cash flow margin
1.4%
-7.1%
12.8%
Cash from investing
-383
-101
-90.7
Cash from financing
229
-133
-117
Depreciation and amortisation
130
128
120
+1.2%
Share-based compensation
130
105
84.3
+24.1%
Buybacks
242
501
91.3
-51.6%
Diluted shares, weighted
149m
152m
157m
-1.8%
Shares outstanding at period end
145m
148m
155m
-2.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,848
2,713
3,020
+5.0%
Debt
1,555
1,068
677
+45.6%
Operating lease liabilities
33.3
42.4
41.6
-21.5%
Finance lease liabilities
48.2
53.2
62.6
-9.4%
Other liabilities
1,117
1,193
1,064
-6.4%
Total liabilities and equity
5,601
5,070
4,865
+10.5%
Goodwill
445
328
312
+35.5%
Intangible assets
206
69.5
65.3
+195.8%
Investments
239
189
252
+26.2%
Cash and equivalents
1,011
994
1,423
+1.6%
Receivables
1,004
921
885
+9.0%
Inventory
1,051
947
374
+11.0%
Other assets
1,647
1,621
1,555
+1.6%
Total assets
5,601
5,070
4,865
+10.5%
10-K for the year ended 28 October 2023, filed 15 December 2023: the filing.