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Ciena vs Clearfield: CIEN and CLFD compared
Ciena is the larger company: $1.7B of revenue in its latest quarter (Q3 FY26) against $43.9M for Clearfield (Q3 FY26). Ciena is growing faster (+37% against +13% a year earlier). Ciena is more profitable, with an operating margin of 18.0% against 5.9%.
Where the money goes: CIEN and CLFD
Ciena (CIEN) · Q3 FY26
Ciena, Q3 FY26: revenue $1.7B (+37% year over year), operating margin 18.0%, net earnings $266M, operating cash flow $196M. The chart follows the revenue to costs, profit and cash.
Clearfield (CLFD) · Q3 FY26
Clearfield, Q3 FY26: revenue $43.9M (+13% year over year), operating margin 5.9%, net earnings $3.0M, operating cash flow $9.9M. The chart follows the revenue to costs, profit and cash.
| Ciena (CIEN) | Clearfield (CLFD) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 FY26 |
| Revenue | $1.7B | $43.9M |
| Revenue growth, Y/Y | +37% | +13% |
| Gross margin | 45.4% | 31.8% |
| Operating margin | 18.0% | 5.9% |
| Net earnings | $266M | $3.0M |
| Net margin | 15.9% | 6.8% |
| Operating cash flow | $196M | $9.9M |
| Free cash flow | $116M | $8.9M |
| Market value | $35.3B | $408M |
| P/E | 54.0× | — |
| Analysts’ mean target | $512.99 | $40.25 |
Where the revenue comes from
Ciena
- Products: $1.4B (83%)
- Routing and Switching: $164M (10%)
- Platform Software and Services: $98.7M (6%)
- Advisory and Enablement: $15.9M (1%)
Questions
Which is bigger, Ciena or Clearfield?
Ciena is the larger company: $1.7B of revenue in its latest quarter (Q3 FY26) against $43.9M for Clearfield (Q3 FY26).
Is Ciena or Clearfield growing faster?
Ciena is growing faster (+37% against +13% a year earlier).
Which is more profitable, Ciena or Clearfield?
Ciena is more profitable, with an operating margin of 18.0% against 5.9%.
More: Ciena earnings · how Ciena makes money · Clearfield earnings · how Clearfield makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 3, 2026; 10-Q filed Aug 6, 2026). Fiscal quarters can end on different dates. Not investment advice.