Cisco Systems, Inc. (CSCO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 27	$1.17	$1.22	+4.3%	—	—	—
Q1 27	$0.87	$0.89	+2.3%	—	—	—
Q4 26	$1.02	$1.04	+2.0%	—	—	—
Q3 26	$0.98	$1	+2.0%	—	—	—
Q2 26	$0.98	$0.99	+1.0%	—	—	—
Q1 26	$0.92	$0.96	+4.3%	—	—	—
Q4 25	$0.91	$0.94	+3.3%	—	—	—
Q3 25	$0.87	$0.91	+4.6%	—	—	—
Q2 25	$0.85	$0.87	+2.4%	—	—	—
Q1 25	$0.82	$0.88	+7.3%	—	—	—
Q4 24	$0.84	$0.87	+3.6%	—	—	—
Q3 24	$1.03	$1.11	+7.8%	—	—	—
Q2 24	$1.06	$1.14	+7.5%	—	—	—
Q1 24	$0.97	$1	+3.1%	—	—	—
Q4 23	$0.86	$0.88	+2.3%	—	—	—
Q3 23	$0.84	$0.86	+2.4%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	—	—	—	$63.3B	—
FY25	—	$2.63	—	—	$56.7B	—
FY24	—	$2.55	—	—	$53.8B	—
FY23	—	$3.08	—	—	$57B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$48B	$49.3B	$51.9B	$49.3B	$49.8B	$51.6B	$57B	$53.8B	$56.7B	$63.3B
YoY change	-2.52%	+2.76%	+5.22%	-5.02%	+1.05%	+3.49%	+10.6%	-5.61%	+5.3%	+11.8%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	48B	49.3B	51.9B	49.3B	49.8B	51.6B	57B	53.8B	56.7B	63.3B
Cost of revenue	17.8B	18.7B	19.2B	17.6B	17.9B	19.3B	21.2B	19B	19.9B	22.5B
Gross profit	30.2B	30.6B	32.7B	31.7B	31.9B	32.2B	35.8B	34.8B	36.8B	40.9B
Gross margin	63%	62%	62.9%	64.3%	64%	62.5%	62.7%	64.7%	64.9%	64.5%
Research & development	6.1B	6.3B	6.6B	6.3B	6.5B	6.8B	7.6B	8B	9.3B	9.6B
Selling, general & administrative	11.2B	11.4B	11.4B	11.1B	11.4B	11.2B	12.4B	13.2B	14B	14.3B
Operating expenses	17.2B	17.7B	18B	17.4B	18B	18B	19.9B	21.2B	23.3B	23.9B
Operating income	12.7B	12.7B	14.5B	14.1B	13.7B	14B	15.6B	13B	12.5B	16.1B
Operating margin	26.5%	25.7%	28%	28.6%	27.5%	27.1%	27.3%	24.1%	22.1%	25.4%
Non-operating income, net	-919M	-193M	-419M	-466M	-641M	386M	-779M	-1.1B	-812M	552M
Pretax income	12.3B	13B	14.6B	14B	13.3B	14.5B	15.3B	12.2B	11.1B	16B
Income tax	2.7B	12.9B	3B	2.8B	2.7B	2.7B	2.7B	1.9B	920M	2.7B
Net income	9.6B	110M	11.6B	11.2B	10.6B	11.8B	12.6B	10.3B	10.2B	13.3B
Net margin	20%	0.22%	22.4%	22.7%	21.3%	22.9%	22.1%	19.2%	18%	21%
EBITDA	16.3B	16.2B	17.7B	16.7B	16.1B	16.3B	18.2B	16.7B	16.2B	19.3B
EPS	1.92	0.02	2.63	2.65	2.51	2.83	3.08	2.55	2.63	—
Diluted EPS	1.9	0.02	2.61	2.64	2.5	2.82	3.07	2.54	2.61	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	14.7B	12.8B	12.7B	13.6B	13.8B	14B	14.1B	14.7B	14.9B	15.3B	15.8B	17.3B
Cost of revenue	5.1B	4.6B	4.4B	4.9B	4.7B	4.9B	4.9B	5.4B	5.1B	5.4B	5.8B	6.2B
Gross profit	9.6B	8.2B	8.3B	8.8B	9.1B	9.1B	9.3B	9.3B	9.7B	10B	10.1B	11.1B
Gross margin	65.2%	64.2%	65.1%	64.4%	65.9%	65.1%	65.6%	63.2%	65.5%	65%	63.6%	64.1%
Research & development	1.9B	1.9B	1.9B	2.2B	2.3B	2.3B	2.3B	2.4B	2.4B	2.4B	2.4B	2.4B
Selling, general & administrative	3.2B	3.1B	3.3B	3.6B	3.5B	3.4B	3.5B	3.5B	3.6B	3.6B	3.5B	3.6B
Operating expenses	5.1B	5B	5.2B	5.8B	5.8B	5.7B	5.8B	5.9B	6B	5.9B	5.9B	6.1B
Operating income	4.4B	3.1B	2.7B	2.7B	3B	3.1B	3.2B	3.1B	3.5B	3.8B	4B	4.8B
Operating margin	30%	24.3%	21.5%	20%	21.8%	22.3%	22.9%	21.3%	23.6%	24.9%	25%	27.7%
Non-operating income, net	-206M	-151M	-552M	-186M	-624M	-70M	-136M	18M	9M	-11M	243M	311M
Pretax income	4.4B	3.2B	2.2B	2.4B	2.3B	2.9B	2.9B	3B	3.4B	3.6B	4B	4.9B
Income tax	804M	527M	349M	234M	-444M	459M	456M	449M	531M	471M	666M	1.1B
Net income	3.6B	2.6B	1.9B	2.2B	2.7B	2.4B	2.5B	2.5B	2.9B	3.2B	3.4B	3.9B
Net margin	24.8%	20.6%	14.8%	15.8%	19.6%	17.4%	17.6%	17.4%	19.2%	20.7%	21.3%	22.4%
EBITDA	5.1B	3.8B	4B	3.7B	4.1B	4.1B	4.1B	3.9B	4.3B	4.7B	4.8B	5.6B
EPS	0.9	0.65	0.47	0.54	0.68	0.61	0.63	0.71	0.72	0.8	0.85	0.98
Diluted EPS	0.89	0.65	0.46	0.54	0.68	0.61	0.62	0.71	0.72	0.8	0.85	0.97

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	157.6B	204.6B	244.8B	199.5B	233.8B	189.2B	213B	195.9B	270.7B	—	420.8B
Enterprise value	120.8B	183.6B	236.1B	184.7B	220.8B	179.4B	195.2B	209B	282.7B	—	435.9B
Shares outstanding	5B	4.8B	4.4B	4.2B	4.2B	4.2B	4.1B	4B	4B	—	—

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	16.4	1.9K	21.1	17.8	22.1	16	16.9	19	26.6	—	32.2
P/S	3.28	4.15	4.72	4.05	4.69	3.67	3.74	3.64	4.78	—	6.67
P/B	2.38	4.73	7.29	5.26	5.66	4.76	4.8	4.31	5.78	—	8.4
EV/EBITDA	7.4	11.3	13.4	11.1	13.7	11	10.7	12.5	17.5	—	23.4
EV/Sales	2.52	3.72	4.55	3.75	4.43	3.48	3.43	3.88	4.99	—	6.88
Earnings yield	6.1%	0.05%	4.75%	5.62%	4.53%	6.24%	5.92%	5.27%	3.76%	—	3.11%
FCF yield	8.19%	6.27%	6.1%	7.35%	6.31%	6.74%	8.94%	5.21%	4.91%	—	2.66%
PEG	—	—	—	—	—	—	—	—	—	—	0.85

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	63%	62%	62.9%	64.3%	64%	62.5%	62.7%	64.7%	64.9%	64.5%	64.1%
Operating margin	26.5%	25.7%	28%	28.6%	27.5%	27.1%	27.3%	24.1%	22.1%	25.4%	27.7%
Net margin	20%	0.22%	22.4%	22.7%	21.3%	22.9%	22.1%	19.2%	18%	21%	21%
ROE	14.5%	0.25%	34.6%	29.6%	25.7%	29.7%	28.4%	22.7%	21.7%	26.4%	27.3%
ROA	7.4%	0.1%	11.9%	11.8%	10.9%	12.6%	12.4%	8.29%	8.32%	10.2%	7.98%
ROIC	33.9%	0.48%	46.7%	49%	38.7%	38%	48.2%	18.7%	19.5%	20.8%	20.8%
Return on tangible assets	14.7%	0.27%	44.1%	46.6%	76.1%	96.4%	59.6%	-67.3%	-71%	-299.4%	-299.4%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	3.03	2.29	1.51	1.72	1.49	1.43	1.38	0.91	1	0.93	0.93
Quick ratio	2.98	2.22	1.46	1.67	1.43	1.33	1.27	0.83	0.91	0.79	0.79
Debt / equity	0.51	0.59	0.73	0.38	0.28	0.24	0.19	0.68	0.6	0.59	0.62
Debt / assets	0.26	0.24	0.25	0.15	0.12	0.1	0.08	0.25	0.23	0.23	0.23
Net debt / EBITDA	-2.25	-1.29	-0.5	-0.89	-0.81	-0.6	-0.98	0.78	0.74	0.7	0.7
Interest coverage	15.3	14.8	18	24.9	31.6	41.2	36.9	13.2	7.97	11.9	11.9
Effective tax rate	21.8%	99.2%	20.2%	19.7%	20.1%	18.4%	17.7%	15.6%	8.29%	17.1%	17.1%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	9.58	10.2	11.7	11.6	11.8	12.4	13.9	13.3	14.2	—	16
EPS (basic)	1.92	0.02	2.63	2.65	2.51	2.83	3.08	2.55	2.63	—	—
EPS (diluted)	1.9	0.02	2.61	2.64	2.5	2.82	3.07	2.54	2.61	—	3.33
Book value per share	13.2	8.93	7.6	8.95	9.78	9.54	10.8	11.2	11.8	—	12.7
FCF per share	2.58	2.65	3.38	3.46	3.5	3.06	4.65	2.53	3.34	—	3.2
Cash per share	14.1	9.62	7.56	6.94	5.81	4.62	6.39	4.42	4.05	—	4.04
Capex per share	0.19	0.16	0.2	0.14	0.16	0.11	0.21	0.17	—	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	1.99%	1.57%	1.71%	1.2%	1.33%	0.93%	1.49%	1.25%	—	—	—
Capex / operating cash flow	6.89%	5.49%	5.61%	3.82%	4.2%	3.39%	4.47%	5.92%	—	—	—
Payout ratio	57.4%	5.4K%	51.4%	53.6%	58.2%	52.7%	50%	61.9%	63.2%	49.4%	49.9%
Dividend yield	3.5%	2.92%	2.44%	3.02%	2.64%	3.29%	2.96%	3.26%	2.38%	—	1.57%

Yield

1.57%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.42

ex-dividend Oct 2, 2026

Payout ratio

50%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Oct 2, 2026upcoming	$0.42
Jul 6, 2026	$0.42
Apr 2, 2026	$0.42
Jan 2, 2026	$0.41

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	$14.7B	$12.8B	$12.7B	$13.6B	$13.8B	$14B	$14.1B	$14.7B	$14.9B	$15.3B	$15.8B	$17.3B
YoY change	+7.6%	-5.89%	-12.8%	-10.3%	-5.64%	+9.38%	+11.4%	+7.56%	+7.53%	+9.71%	+12%	+17.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	70.5B	46.5B	33.4B	29.4B	24.5B	19.3B	26.1B	17.9B	16.1B	15.9B
Receivables	5.1B	5.6B	5.5B	5.5B	5.8B	6.6B	5.9B	6.7B	6.7B	7.5B
Inventory	1.6B	1.8B	1.4B	1.3B	1.6B	2.6B	3.6B	3.4B	3.2B	5.7B
Total current assets	83.7B	61.8B	47.8B	43.6B	39.1B	36.7B	43.3B	36.9B	35B	38.7B
Property, plant & equipment	3.3B	3B	2.8B	2.5B	2.3B	2B	2.1B	2.1B	2.1B	2.8B
Goodwill & intangibles	64.6B	68.5B	71.5B	70.8B	83.6B	81.7B	80.7B	139.8B	136.6B	134.1B
Total assets	129.8B	108.8B	97.8B	94.9B	97.5B	94B	101.9B	124.4B	122.3B	129.6B
Accounts payable	1.4B	1.9B	2.1B	2.2B	2.4B	2.3B	2.3B	2.3B	2.5B	3.4B
Short-term debt	8B	5.2B	10.2B	3B	2.5B	1.1B	1.7B	11.3B	5.2B	10.2B
Total current liabilities	27.6B	27B	31.7B	25.3B	26.3B	25.6B	31.3B	40.6B	35.1B	41.5B
Long-term debt	25.7B	20.3B	14.5B	11.6B	9B	8.4B	6.7B	19.6B	22.9B	19.4B
Total liabilities	63.7B	65.6B	64.2B	56.9B	56.2B	54.2B	57.5B	79B	75.4B	79.4B
Shareholders' equity	66.1B	43.2B	33.6B	37.9B	41.3B	39.8B	44.4B	45.5B	46.8B	50.3B
Total debt	33.7B	25.6B	24.7B	14.6B	11.5B	9.5B	8.4B	31B	28.1B	29.5B
Net debt	22B	16.6B	12.9B	2.8B	2.4B	2.4B	-1.7B	23.5B	19.7B	22.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Cash & short-term investments	23.5B	25.7B	18.8B	17.9B	18.7B	16.9B	15.6B	16.1B	15.7B	15.8B	16.6B	15.9B
Receivables	4.8B	4.9B	5.1B	6.7B	4.5B	5.7B	5.3B	6.7B	4.8B	6.6B	6.5B	7.5B
Inventory	3.3B	3.2B	3.1B	3.4B	3.1B	2.9B	2.8B	3.2B	3.4B	3.9B	4.7B	5.7B
Total current assets	39.7B	42.1B	35.9B	36.9B	35.8B	34.7B	32.8B	35B	32.9B	35.1B	36.6B	38.7B
Property, plant & equipment	2B	2B	2B	2.1B	2.1B	2B	2.1B	2.1B	2.2B	2.4B	2.6B	2.8B
Goodwill & intangibles	81.6B	81.5B	140.9B	139.8B	139B	137.7B	137.3B	136.6B	135.7B	135.1B	134.3B	134.1B
Total assets	98.8B	101.2B	123B	124.4B	123.3B	121.4B	119.8B	122.3B	121.1B	123.4B	125.5B	129.6B
Accounts payable	2.1B	1.8B	2.1B	2.3B	2B	1.9B	2.3B	2.5B	2.4B	2.8B	3B	3.4B
Short-term debt	990M	4.9B	11.9B	11.3B	12.4B	11.4B	6.4B	5.2B	6.7B	8.7B	11.9B	10.2B
Total current liabilities	27B	30.9B	40.1B	40.6B	40.5B	40B	34.5B	35.1B	35.5B	36.8B	39.5B	41.5B
Long-term debt	6.7B	6.7B	20.1B	19.6B	19.6B	19.6B	22.9B	22.9B	21.4B	21.4B	19.4B	19.4B
Total liabilities	53.6B	54.9B	77.2B	79B	78.1B	75.8B	73.8B	75.4B	74.2B	75.6B	76.7B	79.4B
Shareholders' equity	45.2B	46.3B	45.8B	45.5B	45.3B	45.5B	45.9B	46.8B	46.9B	47.7B	48.9B	50.3B
Total debt	7.7B	11.6B	32B	31B	32B	31B	29.3B	28.1B	28.1B	30.1B	31.3B	29.5B
Net debt	-2B	-2.1B	23.1B	23.5B	22.9B	22.5B	21.1B	19.7B	19.7B	22.6B	24.2B	22.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	9.6B	110M	11.6B	11.2B	10.6B	11.8B	12.6B	10.3B	10.2B	13.3B
Depreciation & amortization	2.3B	2.2B	1.9B	1.8B	1.9B	2B	1.7B	2.5B	2.8B	2.5B
Stock-based compensation	1.5B	1.6B	1.6B	1.6B	1.8B	1.9B	2.4B	3.1B	3.6B	3.8B
Change in working capital	586M	9.3B	1.1B	918M	2B	-1.3B	4.4B	-3.6B	-1.2B	-4.8B
Operating cash flow	13.9B	14.1B	15.8B	15.5B	15.8B	14.1B	19B	11.3B	14.2B	14.2B
Capital expenditure	-957M	-775M	-887M	-591M	-664M	-477M	-849M	-670M	—	—
Investing cash flow	-6B	15.3B	14.8B	3.5B	-5.3B	1.6B	-5.1B	-20.5B	2.6B	-2.1B
Dividends paid	-5.5B	-6B	-6B	-6B	-6.2B	-6.2B	-6.3B	-6.4B	-6.4B	-6.6B
Share repurchases	-4.3B	-18.3B	-21.6B	-3.4B	-3.5B	-8.4B	-4.9B	-6.8B	-7.2B	-8B
Financing cash flow	-3.8B	-31.8B	-27.9B	-18.9B	-12.1B	-16B	-11.6B	6.8B	-15.8B	-12.3B
Net change in cash	4B	-2.3B	2.8B	115M	-1.6B	-358M	2.3B	-2.3B	1B	-244M
Free cash flow	12.9B	12.8B	14.9B	14.7B	14.8B	12.7B	19B	10.2B	13.3B	12.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Net income	3.6B	2.6B	1.9B	2.2B	2.7B	2.4B	2.5B	2.5B	2.9B	3.2B	3.4B	3.9B
Depreciation & amortization	401M	422M	861M	823M	789M	761M	626M	635M	606M	659M	637M	638M
Stock-based compensation	661M	802M	811M	800M	827M	921M	945M	948M	1.1B	934M	914M	927M
Change in working capital	-1.9B	-2.9B	-184M	1.4B	430M	-2.3B	476M	147M	-614M	-3.2B	-541M	-424M
Operating cash flow	2.3B	684M	3.9B	4.4B	4.5B	1.7B	4.1B	4.2B	3.2B	1.8B	3.8B	5.4B
Capital expenditure	-134M	-170M	-168M	-198M	-217M	-210M	-261M	—	—	—	—	—
Investing cash flow	952M	2.2B	-22.8B	-828M	479M	1B	505M	-56M	479M	-1B	-1.7B	126M
Dividends paid	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.7B	-1.7B
Share repurchases	-1.5B	-1.1B	-2B	-2.2B	-2.2B	-1.1B	-2.4B	-1.6B	-2.3B	-1.1B	-2.6B	-2B
Financing cash flow	-3.8B	730M	14.1B	-4.5B	-2.8B	-4.3B	-5.1B	-3.9B	-3.9B	-1.8B	-2B	-5B
Net change in cash	-570M	3.6B	-4.8B	-915M	2.2B	-1.5B	-504M	229M	-172M	-994M	62M	506M
Free cash flow	2.2B	638M	3.8B	3.5B	3.4B	2B	3.8B	4B	2.9B	1.5B	3.3B	5B

Date	Ratio
Mar 23, 2000	2:1
Jun 22, 1999	2:1
Sep 16, 1998	3:2
Dec 17, 1997	3:2
Feb 20, 1996	2:1
Mar 21, 1994	2:1
Mar 22, 1993	2:1
Mar 23, 1992	2:1
Mar 18, 1991	2:1

Cisco Systems, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history