Ciena Interest Coverage vs Inventory Turnover Analysis

CIEN Stock  USD 50.49  0.97  1.96%   
Ciena Corp financial indicator trend analysis is way more than just evaluating Ciena Corp prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Ciena Corp is a good investment. Please check the relationship between Ciena Corp Interest Coverage and its Inventory Turnover accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ciena Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.
To learn how to invest in Ciena Stock, please use our How to Invest in Ciena Corp guide.

Interest Coverage vs Inventory Turnover

Interest Coverage vs Inventory Turnover Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Ciena Corp Interest Coverage account and Inventory Turnover. At this time, the significance of the direction appears to have no relationship.
The correlation between Ciena Corp's Interest Coverage and Inventory Turnover is 0.04. Overlapping area represents the amount of variation of Interest Coverage that can explain the historical movement of Inventory Turnover in the same time period over historical financial statements of Ciena Corp, assuming nothing else is changed. The correlation between historical values of Ciena Corp's Interest Coverage and Inventory Turnover is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Interest Coverage of Ciena Corp are associated (or correlated) with its Inventory Turnover. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory Turnover has no effect on the direction of Interest Coverage i.e., Ciena Corp's Interest Coverage and Inventory Turnover go up and down completely randomly.

Correlation Coefficient

0.04
Relationship DirectionPositive 
Relationship StrengthInsignificant

Interest Coverage

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of inventory management.
Most indicators from Ciena Corp's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Ciena Corp current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ciena Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.
To learn how to invest in Ciena Stock, please use our How to Invest in Ciena Corp guide.At this time, Ciena Corp's Selling General Administrative is very stable compared to the past year. As of the 28th of March 2024, Tax Provision is likely to grow to about 83.1 M, while Issuance Of Capital Stock is likely to drop about 30.1 M.
 2021 2022 2023 2024 (projected)
Interest Expense47.1M88.0M79.2M141.8M
Depreciation And Amortization181.4M142.2M128.0M163.3M

Ciena Corp fundamental ratios Correlations

0.880.590.940.74-0.030.180.820.680.960.770.770.980.680.670.870.960.540.780.740.980.040.350.61-0.06-0.33
0.880.660.80.73-0.07-0.030.740.670.870.660.760.890.710.570.650.790.640.720.730.840.120.30.620.0-0.34
0.590.660.490.820.04-0.420.720.660.60.630.710.610.930.380.350.510.880.580.820.550.230.530.180.340.18
0.940.80.490.78-0.350.40.750.710.950.590.770.870.640.370.740.860.370.510.780.88-0.240.030.790.02-0.44
0.740.730.820.78-0.360.010.70.830.790.560.870.70.930.220.420.630.680.411.00.67-0.090.190.630.37-0.18
-0.03-0.070.04-0.35-0.36-0.42-0.08-0.41-0.120.21-0.350.05-0.150.660.280.070.130.55-0.360.040.720.77-0.64-0.240.46
0.18-0.03-0.420.40.01-0.42-0.10.010.21-0.32-0.060.07-0.32-0.220.310.14-0.68-0.270.010.15-0.59-0.480.46-0.2-0.5
0.820.740.720.750.7-0.08-0.10.640.760.820.710.850.720.510.670.820.670.670.70.82-0.010.290.470.01-0.28
0.680.670.660.710.83-0.410.010.640.630.660.960.660.760.290.40.650.620.410.830.69-0.040.240.490.07-0.38
0.960.870.60.950.79-0.120.210.760.630.640.730.920.720.510.770.870.530.670.790.9-0.020.210.690.05-0.26
0.770.660.630.590.560.21-0.320.820.660.640.710.810.660.770.690.840.760.840.560.820.390.620.2-0.19-0.18
0.770.760.710.770.87-0.35-0.060.710.960.730.710.750.820.370.460.710.690.520.870.77-0.050.260.560.21-0.27
0.980.890.610.870.70.050.070.850.660.920.810.750.670.730.860.970.60.840.70.980.110.410.54-0.09-0.34
0.680.710.930.640.93-0.15-0.320.720.760.720.660.820.670.330.350.60.880.530.930.620.110.380.410.390.06
0.670.570.380.370.220.66-0.220.510.290.510.770.370.730.330.80.750.490.960.220.740.60.83-0.06-0.33-0.06
0.870.650.350.740.420.280.310.670.40.770.690.460.860.350.80.90.250.810.420.90.160.490.34-0.34-0.33
0.960.790.510.860.630.070.140.820.650.870.840.710.970.60.750.90.520.820.630.980.090.430.48-0.21-0.38
0.540.640.880.370.680.13-0.680.670.620.530.760.690.60.880.490.250.520.650.680.530.430.570.110.220.15
0.780.720.580.510.410.55-0.270.670.410.670.840.520.840.530.960.810.820.650.410.830.520.790.09-0.17-0.01
0.740.730.820.781.0-0.360.010.70.830.790.560.870.70.930.220.420.630.680.410.67-0.090.190.630.37-0.18
0.980.840.550.880.670.040.150.820.690.90.820.770.980.620.740.90.980.530.830.670.080.420.53-0.13-0.36
0.040.120.23-0.24-0.090.72-0.59-0.01-0.04-0.020.39-0.050.110.110.60.160.090.430.52-0.090.080.76-0.5-0.380.22
0.350.30.530.030.190.77-0.480.290.240.210.620.260.410.380.830.490.430.570.790.190.420.76-0.43-0.170.27
0.610.620.180.790.63-0.640.460.470.490.690.20.560.540.41-0.060.340.480.110.090.630.53-0.5-0.430.23-0.55
-0.060.00.340.020.37-0.24-0.20.010.070.05-0.190.21-0.090.39-0.33-0.34-0.210.22-0.170.37-0.13-0.38-0.170.230.51
-0.33-0.340.18-0.44-0.180.46-0.5-0.28-0.38-0.26-0.18-0.27-0.340.06-0.06-0.33-0.380.15-0.01-0.18-0.360.220.27-0.550.51
Click cells to compare fundamentals

Ciena Corp Account Relationship Matchups

Ciena Corp fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets4.2B4.9B5.1B5.6B6.4B6.8B
Other Current Liab334.1M409.3M360.8M431.4M496.1M520.9M
Total Current Liabilities760.7M909.0M1.0B932.0M1.1B558.9M
Total Stockholder Equity2.5B3.0B2.7B2.8B3.3B3.4B
Property Plant And Equipment Net329.4M329.3M312.9M315.3M362.6M191.2M
Net Debt(324.9M)(685.1M)135.0M594.4M683.6M717.7M
Retained Earnings(4.3B)(3.8B)(3.6B)(3.4B)(3.0B)(3.2B)
Accounts Payable291.9M356.2M516.0M317.8M365.5M383.8M
Cash1.1B1.4B994.4M1.0B1.2B642.4M
Non Current Assets Total1.6B1.7B1.7B2.0B2.3B2.4B
Non Currrent Assets Other102.8M99.9M113.6M116.5M104.8M113.4M
Cash And Short Term Investments1.2B1.6B1.1B1.1B1.3B993.2M
Net Receivables719.4M885.0M920.8M1.0B1.2B1.2B
Common Stock Shares Outstanding156.0M156.7M152.2M149.4M171.8M110.1M
Liabilities And Stockholders Equity4.2B4.9B5.1B5.6B6.4B6.8B
Non Current Liabilities Total910.6M936.2M1.3B1.8B2.1B2.2B
Inventory344.4M374.3M946.7M1.1B1.2B1.3B
Other Current Assets308.1M325.7M370.1M405.7M466.5M489.9M
Other Stockholder Equity6.8B6.8B6.4B6.3B7.2B5.6B
Total Liab1.7B1.8B2.4B2.8B3.2B3.3B
Property Plant And Equipment Gross329.4M329.3M312.9M315.3M362.6M191.2M
Total Current Assets2.6B3.2B3.4B3.6B4.1B4.3B
Accumulated Other Comprehensive Income(35.4M)439K(46.6M)(37.8M)(34.0M)(32.3M)
Intangible Assets96.6M65.3M69.5M205.6M185.1M133.9M
Short Long Term Debt Total763.7M737.5M1.1B1.6B1.8B1.0B
Common Stock Total Equity1.5M1.5M1.5M1.5M1.3M1.6M
Short Term Investments150.7M181.5M154.0M104.8M94.3M89.6M
Short Term Debt26.0M25.6M25.9M28.4M32.6M31.0M
Common Stock1.5M1.5M1.5M1.4M1.3M1.6M
Other Liab82.8M224.3M212.7M196.3M225.7M237.0M
Other Assets737.2M900.1M937.6M892.2M1.0B1.1B
Property Plant Equipment329.4M329.3M312.9M315.3M362.6M194.8M
Current Deferred Revenue108.7M118.0M137.9M154.4M177.6M186.5M
Long Term Debt676.4M670.4M1.1B1.5B1.8B982.2M
Good Will310.8M311.6M328.3M444.8M511.5M537.1M
Net Tangible Assets2.1B2.6B2.3B2.2B2.5B2.6B
Retained Earnings Total Equity(4.6B)(4.3B)(3.8B)(3.6B)(4.2B)(4.4B)
Long Term Debt Total680.4M676.4M670.4M1.1B955.0M798.6M
Capital Surpluse6.8B6.8B6.8B6.4B7.3B7.1B

Pair Trading with Ciena Corp

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Ciena Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ciena Corp will appreciate offsetting losses from the drop in the long position's value.

Moving against Ciena Stock

  0.64FKWL Franklin Wireless CorpPairCorr
  0.63MKFG Markforged Holding Corp Financial Report 9th of May 2024 PairCorr
  0.63SGE Strong Global EntertPairCorr
  0.62VLD Velo3D Inc Financial Report 6th of May 2024 PairCorr
  0.6DM Desktop Metal Financial Report 8th of May 2024 PairCorr
The ability to find closely correlated positions to Ciena Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ciena Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ciena Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ciena Corp to buy it.
The correlation of Ciena Corp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ciena Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ciena Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Ciena Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Ciena Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Ciena Corp's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Ciena Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Ciena Corp Stock:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ciena Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.
To learn how to invest in Ciena Stock, please use our How to Invest in Ciena Corp guide.
Note that the Ciena Corp information on this page should be used as a complementary analysis to other Ciena Corp's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.

Complementary Tools for Ciena Stock analysis

When running Ciena Corp's price analysis, check to measure Ciena Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Ciena Corp is operating at the current time. Most of Ciena Corp's value examination focuses on studying past and present price action to predict the probability of Ciena Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ciena Corp's price. Additionally, you may evaluate how the addition of Ciena Corp to your portfolios can decrease your overall portfolio volatility.
Bonds Directory
Find actively traded corporate debentures issued by US companies
Funds Screener
Find actively-traded funds from around the world traded on over 30 global exchanges
Pattern Recognition
Use different Pattern Recognition models to time the market across multiple global exchanges
Headlines Timeline
Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Equity Search
Search for actively traded equities including funds and ETFs from over 30 global markets
Fundamentals Comparison
Compare fundamentals across multiple equities to find investing opportunities
Is Ciena Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Ciena Corp. If investors know Ciena will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Ciena Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.33)
Earnings Share
1.54
Revenue Per Share
29.507
Quarterly Revenue Growth
(0.02)
Return On Assets
0.0424
The market value of Ciena Corp is measured differently than its book value, which is the value of Ciena that is recorded on the company's balance sheet. Investors also form their own opinion of Ciena Corp's value that differs from its market value or its book value, called intrinsic value, which is Ciena Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Ciena Corp's market value can be influenced by many factors that don't directly affect Ciena Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Ciena Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Ciena Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ciena Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.