CIENA Corp (CIEN) is overvalued and Motorola Solutions Inc (MSI) is undervalued.
Against our estimates of intrinsic value, MSI trades at the wider discount: a margin of safety of +24%, against -707% for CIEN.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.8% (average of 2 methods) values the shares at $45.66; the price of $368.56 is 707% above that value.
Leak Score 49/100 on 10 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $602.32; the price of $456.70 is 24% below that value.
Leak Score 90/100 on 9 of 12 signals
| Metric | CIEN | MSI |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $368.56 | $456.70 |
| Intrinsic value | $45.66 | $602.32 |
| Margin of safety | -707% | +24% |
| Leak Score | 49/100 (10/12) | 90/100 (9/12) |
| Market cap | $52.3B | $75.6B |
| Revenue growth, 5 years | 6.2% | 9.5% |
| Operating margin | 14.1% | 25.3% |
| Net margin | 10.9% | 17.4% |
| Return on equity | 22.4% | 92.0% |
| Debt to equity | 1.07 | 3.60 |
| P/E | 82.2x | 36.0x |
| Forward P/E | 31.3x | 23.8x |
| P/B | 17.1x | 28.3x |
| Dividend yield | — | 1.0% |