COMPARE · Data as of August 21, 2026
CIEN vs EXTR
Verdict: Side-by-side breakdown using the Bull Rankings model. CIEN scored 59.0, EXTR scored 63.7 — EXTR leads.
Compare another set
CIEN
Ciena Corporation
59
$395.79 · $56.0B
fundamentals as of
Score gap
4.7
EXTR leads
EXTR
Extreme Networks, Inc.
63.7
$23.02 · $3.0B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
- CheapestEXTR74.3x
- Fastest growthCIEN+30.6%
- Strongest balance sheetCIEN0.55
- Highest qualityEXTR66 / 100
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
CIEN
stronger →← stronger
EXTR
62
Qualityreturns · margins · balance sheet
66
80
Growthrevenue & earnings expansion
69
42
Valuevaluation vs sector peers
56
EXTR is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
CIEN
EXTR
$833mC+
FCF
$95mC-
+30.6%A
Rev
+12.6%B+
0.55C+
D/E
2.20D
131.5xD
P/E
74.3xC
0.69A-
PEG
0.84B+
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
CIEN
EXTR
260% above
Price vs fair valuelower is cheaper
162% above
~51%/yr
Growth the price implies10-yr FCF · lower = less priced in
~38%/yr
-79%
1-yr DCF upside
-68%
-72%
5-yr DCF upside
-62%
-59%
10-yr DCF upside
-53%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
The companies
CIENCiena Corporation
Why now
Communication Equipment · market cap $56.0b. Down 38% from 52-week high of $637.51 — deep drawdown territory. Revenue growing +31% — in hypergrowth territory. PEG 0.69 — paying under fair value for the growth rate. 19 sell-side analysts rate this a Buy with a mean 1-yr target of $557.29 (implying +41% upside).
Moat
ROE 15% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 190% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined. $56.0b market cap gives the company enough scale to absorb fixed costs that subscale competitors can't, without yet being so large that growth has to come from acquisition.
Risk
Trailing P/E 131.5x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. Down 38% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. P/S 10.1x embeds aggressive forward growth — disappointing top-line guidance would compress the multiple hard.
EXTRExtreme Networks, Inc.
Why now
Communication Equipment · market cap $3.0b. Down 32% from 52-week high of $33.73 — deep drawdown territory. Revenue growing +13%, comfortably above the S&P median. PEG 0.84 — paying under fair value for the growth rate. 8 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $33.50 (implying +46% upside).
Moat
ROE 48% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
D/E 2.20 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Trailing P/E 74.3x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. Down 32% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where CIEN and EXTR diverge
On the headline score the gap is 4.7 points in favor of EXTR. They get there differently, though — each leads on a different pillar, so the better pick depends on which you weight.
- ValueCIEN 41.6 · EXTR 56.5EXTR +14.9
- GrowthCIEN 79.5 · EXTR 69.0CIEN +10.5
- QualityCIEN 62.0 · EXTR 66.3EXTR +4.3
Pillars run 0–100 against sector peers, so a score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.