Filing Flows

Filing Flows › Companies › Ciena › Cash flow

Ciena cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$116M in Q3 FY26 · $814M over twelve months

Operating cash flow$196M
Capital spending−$80.0M
Free cash flow+$116M
Cash / net income0.7×
Cash conversion cycle83 days

Analysis

In Q3 FY26, Ciena generated $196M of operating cash flow and spent $80.0M on capital projects, leaving free cash flow of $116M.

Over the twelve months to Aug 1, 2026, operating cash flow was $1.1B; the largest uses were buybacks ($422M), taxes on employees’ shares ($310M), other investing ($289M); besides operations, cash came from other financing ($1.6B), shares issued ($38.0M); the cash balance rose by $1.4B.

Operating cash flow was $196M against net income of $266M — 0.7× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$180M, payables +$94.9M, inventory −$93.6M.

Its cash conversion cycle was 83 days (receivables 62 + inventory 84 − payables 63).

Free cash flow

Ciena: free cash flow by quarterCiena: free cash flow by quarter$266MQ4 FY24$76.8MQ1 FY25$128MQ2 FY25$135MQ3 FY25$326MQ4 FY25$154MQ1 FY26$219MQ2 FY26$116MQ3 FY26
Operating cash flow less capital spending.
Ciena: operating cash flow against capital spendingCiena: operating cash flow against capital spendingOperating cash flowCapital spending$349M$83.5MQ4 FY24$104M$26.9MQ1 FY25$157M$28.7MQ2 FY25$174M$39.8MQ3 FY25$371M$45.4MQ4 FY25$228M$73.9MQ1 FY26$260M$41.0MQ2 FY26$196M$80.0MQ3 FY26
Latest (Q3 FY26): Operating cash flow $196M, Capital spending $80.0M.

Capital allocation, year by year

Ciena: where the cash came from (up) and went (down), by fiscal yearCiena: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY21: Operating cash flow $542MFY21: Net borrowing −$9.9MFY21: Shares issued $28.5MFY21: Capital spending −$79.5MFY21: Buybacks −$91.3M$570MFY21FY22: Operating cash flow −$168MFY22: Net borrowing $391MFY22: Shares issued $30.3MFY22: Capital spending −$90.8MFY22: Acquisitions −$62.0MFY22: Buybacks −$501M$422MFY22FY23: Operating cash flow $168MFY23: Net borrowing −$13.2MFY23: Shares issued $31.4MFY23: Capital spending −$106MFY23: Acquisitions −$230MFY23: Buybacks −$242M$200MFY23FY24: Operating cash flow $515MFY24: Net borrowing −$15.7MFY24: Shares issued $34.3MFY24: Capital spending −$137MFY24: Buybacks −$255M$549MFY24FY25: Operating cash flow $806MFY25: Net borrowing −$16.0MFY25: Shares issued $35.9MFY25: Capital spending −$141MFY25: Acquisitions −$231MFY25: Buybacks −$335M$842MFY25
Over these 5 years operating cash flow totalled $1.9B; the largest uses were buybacks ($1.4B) and capital spending ($554M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.6B
Debt$3.2B
Net debt$600M

Ciena funds itself: free cash flow was $814M over the last twelve months, and $2.6B of cash and investments stands against $3.2B of debt.

Where the cash came from and went

Ciena: sources (+) and uses (−) of cash, Q3 FY26Ciena: sources (+) and uses (−) of cash, Q3 FY26Other financing$1.6BCash drawn (+) / kept (−)−$1.4BOperating cash flow$196MBuybacks−$173MTaxes on employees’ shares−$98.9MCapital spending−$80.0MOther investing−$37.4MShares issued$20.8MExchange rates−$1.5MNet borrowing (+) / repaid (−)−$1.2M
Ciena: sources (+) and uses (−) of cash, TTM to Q3 FY26Ciena: sources (+) and uses (−) of cash, TTM to Q3 FY26Other financing$1.6BCash drawn (+) / kept (−)−$1.4BOperating cash flow$1.1BBuybacks−$422MTaxes on employees’ shares−$310MOther investing−$289MCapital spending−$240MShares issued$38.0MNet borrowing (+) / repaid (−)−$13.4MExchange rates−$4.1M

From profit to cash

Ciena: net income to operating cash flow, Q3 FY26Ciena: net income to operating cash flow, Q3 FY26Net income$266MDepreciation & amortization$39.0MStock-based pay$57.9MDeferred taxes$59.8MOther non-cash−$1.3MReceivables−$180MInventory−$93.6MPayables$94.9MDeferred revenue−$28.7MPrepaid and other assets−$77.5MOperating cash flow$196M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY2662846383
Q2 FY2659866084
Q1 FY2662956295
Q4 FY25679959107
Q3 FY257311056127
Q2 FY257611655137
Q1 FY257812662143
Q4 FY247913055154

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$196M−$80.0M−$173M−$1.2M$20.8M−$1.4B$116M
Q2 FY26$260M−$41.0M−$84.4M−$7.0M—$78.3M$219M
Q1 FY26$228M−$73.9M−$80.5M−$1.2M$17.2M−$31.5M$154M
Q4 FY25$371M−$45.4M−$84.5M−$4.0M$2K−$36.0M$326M
Q3 FY25$174M−$39.8M−$81.8M−$4.0M$18.7M−$106M$135M
Q2 FY25$157M−$28.7M−$87.0M−$4.0M−$1K−$75.0M$128M
Q1 FY25$104M−$26.9M−$81.2M−$3.9M$17.1M$60.1M$76.8M
Q4 FY24$349M−$83.5M−$129M−$6.9M−$1K−$51.5M$266M

Ciena: income statement and cash flow

Ciena, Q3 FY26: revenue $1.7B (+37% year over year), operating margin 18.0%. The chart follows the revenue to costs, profit and cash.

Ciena: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.