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Cisco Systems, Inc.

CSCO Technology Communication Equipment

Cisco Systems, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $63.3 billion, up 11.8% from fiscal 2025.

Revenue
+17.6%
EPS
+52.2%
Free cash flow
+24.4%
Total debt
−15.3%

Quarter to July 2026, against a year earlier

104.51 4.08 −3.76%
Market cap
$428.1B
P/E
31.2×
Fwd P/E
25.5×
Dividend yield
1.60%
F-score
7/9
Altman Z
4.34
Beneish M
−2.38
Dividend safety
77/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Revenue by segment Fiscal 2026

  • Americas
  • EMEA
  • APJC

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 21.29
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 4 — 5 5 — 5 3 — 6 4 — —
Insider Ownership 0.58%

Capital & Financial Ratios $m

Size
Market Cap 428,130.00
Revenue ttm 63,325.00
Net income ttm 13,267.00
Free cash flow ttm 12,767.00
Net debt Q 3,454.00
Valuation
P/E 31.21
Forward P/E 25.50
Price / sales 6.53
Forward P/S Powerpack
Price / FCF 32.38
Price / book 8.22 (above 6: high)
Financial health
Current ratio Q 0.93 (below 1: weak)
Debt / equity Q 0.39 (at or below 0.5: strong)
Interest coverage Q 11.43
Growth
Revenue growth Q +17.58% (above 0%: growing)
Operating income growth Q +38.13% (above 0%: growing)
EPS, this year +18.14% (at or above 15%: strong)
EPS, next year A +9.44%
Revenue, next year A +15.55% (at or above 10%: strong)
EPS, past 5 yrs +5.90%
EPS, next 5 yrs A +11.69%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.6×, against a ten-year median of 3.6×; over the ten years it ranged from 1.7× in 2016 to 7.9× in 2026.
P/E against its own 10 years 90.18%
10-year low 10-year high
P/S against its own 10 years 95.67%
10-year low 10-year high
P/B against its own 10 years 95.67%
10-year low 10-year high
EV/Sales against its own 10 years 95.67%
10-year low 10-year high
EV/FCF against its own 10 years 95.59%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.60%
Annual rate
1.67
Payout ratio
50.0%
Growth, 2017–26
+4.44%/yr
  1. 1.13 ’17
  2. 1.28 ’18 +13%
  3. 1.38 ’19 +8%
  4. 1.43 ’20 +4%
  5. 1.47 ’21 +3%
  6. 1.51 ’22 +3%
  7. 1.55 ’23 +3%
  8. 1.59 ’24 +3%
  9. 1.63 ’25 +3%
  10. 1.67 ’26 +2%
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 26,146 17,854 16,110 15,918
Receivables 5,854 6,685 6,701 7,470
Inventory 3,644 3,373 3,164 5,694
Other 4,352 5,612 5,950 6,191
43,348 36,862 34,986 38,665
2023 2024 2025 2026
Payables 2,313 2,304 2,528 3,366
ST’ Debt — — — —
Other 5,136 5,643 5,420 6,763
31,309 40,584 35,064 41,525

Compound Annual Growth %

10y 5y 3y
Sales 2.55% 4.92% 3.57%
Cash Flow 0.44% (1.71%) (10.67%)
Earnings 2.14% 4.61% 1.70%
Book Value (2.32%) 4.03% 4.27%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 1.17 Actual 1.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 0.98 1.00 Beat by 0.02
Q2 FY26 1.02 1.04 Beat by 0.02
Q3 FY26 1.04 1.06 Beat by 0.02
Q4 FY26 1.17 1.22 Beat by 0.05
Q1 FY27 1.33 — Reports 11 November 2026

EPS $

Oct Jan Apr Jul Year
’26 — — — — —
’26 0.72 0.80 0.85 0.97 3.33
’25 0.68 0.61 0.62 0.64 2.61
’24 0.89 0.65 0.46 0.54 2.54
’23 0.65 0.67 0.78 0.97 3.07
’22 0.70 0.71 0.73 0.68 2.82
’21 0.51 0.60 0.68 0.71 2.50
Fiscal quarters ending in the months shown.

Revenue $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 14,883 15,349 15,841 17,252 63,325
’25 13,841 13,991 14,149 14,673 56,654
’24 14,668 12,791 12,702 13,642 53,803
’23 13,632 13,592 14,571 15,203 56,998
’22 12,900 12,720 12,835 13,102 51,557
’21 11,929 11,960 12,803 13,126 49,818
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 3,212 1,822 3,757 5,386 14,177
’25 3,661 2,241 4,057 4,234 14,193
’24 2,371 808 3,971 3,730 10,880
’23 3,962 4,739 5,219 5,966 19,886
’22 3,427 2,461 3,661 3,677 13,226
’21 4,096 2,974 3,880 4,504 15,454
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 2,889 1,539 3,343 4,996 12,767
’25 3,444 2,031 3,796 4,017 13,288
’24 2,237 638 3,803 3,532 10,210
’23 3,786 4,569 4,949 5,733 19,037
’22 3,306 2,355 3,556 3,532 12,749
’21 3,929 2,792 3,713 4,356 14,790
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to July

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 48,005 49,330 51,904 49,301 49,818 51,557 56,998 53,803 56,654 63,325 +3.1% 73,173 78,093 83,758 +9.8%
Gross margin, % 62.96 62.04 62.94 64.26 64.02 62.55 62.73 64.73 64.94 64.52 +1.6 pt
EBT 12,287 13,039 14,571 13,970 13,262 14,477 15,318 12,234 11,100 16,009 +3.0%
EBT margin, % 25.60 26.43 28.07 28.34 26.62 28.08 26.87 22.74 19.59 25.28 (0.3) pt
Net income 9,609 110 11,621 11,214 10,591 11,812 12,613 10,320 10,180 13,267 +3.6%
Per share, $
Per share, $ Revenue 9.58 10.20 11.75 11.64 11.80 12.36 13.93 13.31 14.25 16.02 +5.9%
Earnings 1.92 0.02 2.63 2.65 2.51 2.83 3.08 2.55 2.63 3.36 +6.4%
Cash flow 2.77 2.83 3.58 3.64 3.66 3.17 4.86 2.69 3.57 3.59 +2.9%
Capex (0.19) (0.16) (0.20) (0.14) (0.16) (0.11) (0.21) (0.17) (0.23) (0.36) +7.2%
Free cash flow 2.58 2.67 3.38 3.50 3.50 3.06 4.65 2.53 3.34 3.23 +2.5%
Book value 13.20 8.93 7.60 8.95 9.78 9.54 10.84 11.24 11.78 12.72 (0.4%)
Shares, m 5,010 4,837 4,419 4,236 4,222 4,170 4,093 4,043 3,976 3,953 (2.6%)
Valuation, ×
Valuation, × P/E 16.38 604.14 21.06 17.77 22.18 16.00 16.84 18.93 26.55 34.62 79.4
P/S 3.28 4.15 4.72 4.05 4.70 3.66 3.74 3.64 4.78 7.24 4.4
P/B 2.38 4.73 7.29 5.26 5.67 4.75 4.80 4.31 5.78 9.12 5.4
EV/Sales 2.35 3.62 4.35 3.69 4.39 3.45 3.40 3.67 4.90 7.30 4.1
EV/FCF 8.73 13.83 15.11 12.25 14.78 13.96 10.17 19.36 20.88 36.18 16.5
Cash, $m
Cash, $m Operating cash flow 13,876 13,666 15,831 15,426 15,454 13,226 19,886 10,880 14,193 14,177 +0.2%
Capex (957) (775) (887) (591) (664) (477) (849) (670) (905) (1,410) +4.4%
Free cash flow 12,919 12,891 14,944 14,835 14,790 12,749 19,037 10,210 13,288 12,767 (0.1%)
Balance, $m
Balance, $m Working capital 56,120 34,802 16,043 18,242 12,855 11,077 12,039 (3,722) (78) (2,860) n/m
Net debt (44,767) (26,217) (18,938) (17,841) (15,500) (10,851) (19,488) 1,767 6,751 3,454 n/m
Shareholders’ equity 66,137 43,204 33,571 37,920 41,275 39,773 44,353 45,457 46,843 50,285 (3.0%)
Returns, %
Returns, % ROA 7.64 0.09 11.25 11.64 11.01 12.34 12.88 9.12 8.25 10.53 +2.9 pt
ROIC 35.02 45.29 60.73 42.40 31.12 30.19 37.78 16.12 13.71 17.87 (17.2) pt
ROE 14.81 0.20 30.27 31.37 26.75 29.15 29.99 22.98 22.06 27.32 +12.5 pt
People
People Employees 72,900 74,200 75,900 77,500 79,500 26,000 84,900 90,400 86,200 82,400 +1.4%
Revenue/emp, $m 0.66 0.66 0.68 0.64 0.63 1.98 0.67 0.60 0.66 0.77 +1.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jul 2026 · latest quarter Jul 2026 · fundamentals updated 25 Oct 2026

Business profile

Updated

Cisco Systems is a communications-equipment company founded in 1984 and headquartered in San Jose. Charles H. Robbins is Chair and Chief Executive Officer.

Cisco designs and sells hardware, software and AI-powered digital infrastructure that moves, secures and analyzes data across private networks, public networks, cloud environments and the Internet. Its main technology categories are Networking, Security, Collaboration and Observability, supplemented by technical support and professional services.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Americas 37,799 59.69%
EMEA 16,613 26.23%
APJC 8,914 14.08%
Gross margin 64.52%
Operating margin 24.27%
Pre-tax margin 25.28%

Revenue by segment since 2009

Cisco Systems, Inc. vs peers in Communication Equipment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CSCO Cisco Systems, Inc. $428.1B 31.2× 25.5× +17.58% (above 0%: growing) +52.22% (above 0%: growing) +24.37% (above 0%: growing) 64.13% 24.72%
LITE Lumentum Holdings Inc. $83.3B — (loss-making) 39.4× +109.34% (above 0%: growing) n/m +1,870.30% (above 0%: growing) 47.43% 27.76% Compare
MSI Motorola Solutions, Inc. $81.4B 38.3× 35.6× +13.31% (above 0%: growing) +9.09% (above 0%: growing) +84.00% (above 0%: growing) 53.56% 25.82% Compare
HPE Hewlett Packard Enterprise Company $78.2B 27.4× 19.7× +33.68% (above 0%: growing) +438.10% (above 0%: growing) +20.63% (above 0%: growing) 40.11% 11.41% Compare
NOK Nokia Corporation $52.7B 4.6× — +8.48% (above 0%: growing) n/m −624.57% (below 0%: shrinking) 44.57% (1.04%) Compare
CIEN Ciena Corporation $49.6B 69.3× 55.3× +37.05% (above 0%: growing) +437.14% (above 0%: growing) −13.59% (below 0%: shrinking) 45.43% 18.02% Compare
UI Ubiquiti Inc. $36.7B 35.7× 28.0× +23.47% (above 0%: growing) +6.80% (above 0%: growing) +134.17% (above 0%: growing) 45.80% 36.27% Compare
ERIC Ericsson $33.4B 14.3× — −3.14% (below 0%: shrinking) −7.14% (below 0%: shrinking) −89.23% (below 0%: shrinking) 45.78% 11.24% Compare
ZBRA Zebra Technologies Corporation $17.9B 32.7× 24.3× +20.42% (above 0%: growing) +122.27% (above 0%: growing) +52.31% (above 0%: growing) 52.99% 20.62% Compare
Median of peers $51.1B 32.7× 31.8× +21.94% +65.68% +36.47% 45.79% 19.32%

All 46 Communication Equipment stocks →

From the latest earnings call

Updated

  • Chuck Robbins said hyperscaler AI-infrastructure revenue is projected to reach $7.5 billion in FY2027, supported by demand growth and market-share gains.
  • Mark Patterson said Cisco expects a slight FY2027 gross-margin headwind as high hardware volumes increase the revenue mix of hardware.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Piper Sandler Oct 20, 2026 Target cut — —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 80.24%
Held by the ten largest 39.94%
Holder Shares Stake Change
Vanguard 406.18m 10.31% +3.28m
BlackRock 358.67m 9.10% −6.39m
State Street 197.15m 5.00% +3.56m
Invesco 138.19m 3.51% −1.49m
Geode Capital Management 101.01m 2.56% −1.13m
Capital Group 90.63m 2.30% +26.66m
Morgan Stanley 80.40m 2.04% +2.67m
Fidelity (FMR) 76.06m 1.93% +8.68m
UBS 71.24m 1.81% −3.08m
Norges Bank 54.84m 1.39% +54.84m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 29 October 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 48.53m 132.21m 237.22
2025 52.84m 94.08m 139.84
2024 39.20m 16.58m 94.85
2023 31.84m 74.56m 99.97
2022 29.28m 6.13m 84.33

Ownership

Directors and executive officers, together less than 1%
BlackRock, Inc. 8.90%
Vanguard Capital Management 7.20%
State Street Corporation 5.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Cisco Systems, Inc. (CSCO) Latest News

29 Oct

Impact 4 · · Zacks
Impact 4 · · Trefis
Impact 4 · · Barchart
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Insider Monkey
Impact 3 · · Zacks
Impact 3 · · Zacks

28 Oct

Impact 4 · · Business Wire
Impact 4 · · Simply Wall St.
Impact 3 · · GlobeNewswire
Impact 3 · · Business Wire
Impact 3 ·

27 Oct

Impact 4 · · 24/7 Wall St.
Impact 4 · · Fortune
Impact 4 · · Simply Wall St.
Impact 4 · · Trefis
Impact 4 · · Business Wire
Impact 3 · · Trefis
Impact 3 · · PR Newswire

26 Oct

Impact 4 · · CNW Group
Impact 4 · · PR Newswire
Impact 4 · · GlobeNewswire
Impact 4 · · PR Newswire
Impact 4 · · Simply Wall St.
Impact 3 · · GlobeNewswire
Impact 3 · · PR Newswire
Impact 3 · · Zacks

23 Oct

Impact 3 · · Trefis

22 Oct

Impact 3 · · Zacks

CSCO metrics, ten years each

stockrow.com/CSCO · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com