Is Cisco Systems financially healthy?

On 25 July 2026 Cisco Systems held 15.92B USD in cash and short-term investments against total debt of 29.53B USD. Its current ratio is 0.93: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 12.77B USD of free cash flow.

Is Cisco Systems growing?

Cisco Systems's revenue grew 4.9% a year over its last five fiscal years, from 49.82B USD in fiscal year 2021 to 63.33B USD in fiscal year 2026. Over the last twelve months it was up 11.8% on the twelve months before.

Where can I find Cisco Systems's annual report (10-K)?

Cisco Systems files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

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Arincen ScoreBeta80/100

80/100B

103.600

USD

0.70

(0.68%)

Post Trading·103.650USD+0.050(+0.05%)

Last updated: 4 Nov, 19:13 GMT-5 · Delayed 15 min

Fair value115.02Plus-10%86Price 103.60144

Q1 FY2027 · Earnings report

EPS estimate 1.32Revenue estimate 18.11B

Q1 FY2027 · Earnings report

Thursday 12 November

EPS estimate 1.32Revenue estimate 18.11B

Fair value115.02Plus-10%86Price 103.60144

Q1 FY2027 · Earnings report

EPS estimate 1.32Revenue estimate 18.11B

Q1 FY2027 · Earnings report

Thursday 12 November

EPS estimate 1.32Revenue estimate 18.11B

Overview Financials Signals News Forecast Earnings Dividends Company

Cisco Systems financials

Yes. Cisco Systems earned 13.27B USD of net income over the last twelve months, 21.0% of its revenue. It made a profit in 38 of its 39 fiscal years since 1988. Its last loss was in fiscal year 2001.

Revenue (TTM): 63.33B USD
Net income (TTM): 13.27B USD
Free cash flow (TTM): 12.77B USD
Cash and short-term investments: 15.92B USD
Total debt: 29.53B USD
Shareholders' equity: 50.29B USD

Cash, debt and equity as of 25 Jul 2026.

Cisco Systems earnings

Next earnings · Q1 FY2027

12 Nov 2026

EPS estimate

1.32 USD

Revenue estimate

18.11B USD

Last quarter · Q4 FY2026

EPS1.22Beat +4.3%Revenue17.25BBeat +2.5%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q4 FY2027	—	1.32	—	—	+7.92%	18.98B	—	—	+10.01%
Q3 FY2027	—	1.25	—	—	+17.97%	18.17B	—	—	+14.70%
Q2 FY2027	—	1.23	—	—	+17.92%	17.87B	—	—	+16.40%
Q1 FY2027	12 Nov 2026	1.32	—	—	+32.00%	18.11B	—	—	+21.66%
Q4 FY2026	12 Aug 2026	1.17	1.22	+4.27%	+23.23%	16.84B	17.25B	+2.47%	+17.58%
Q3 FY2026	13 May 2026	1.03	1.06	+2.91%	+10.42%	15.56B	15.84B	+1.82%	+11.96%
Q2 FY2026	11 Feb 2026	1.02	1.04	+1.96%	+10.64%	15.11B	15.35B	+1.56%	+9.71%
Q1 FY2026	12 Nov 2025	0.98	1.00	+1.83%	+9.89%	14.78B	14.88B	+0.73%	+7.53%
Q4 FY2025	13 Aug 2025	0.98	0.99	+1.33%	+13.79%	14.62B	14.67B	+0.39%	+7.56%
Q3 FY2025	14 May 2025	0.92	0.96	+4.69%	+9.09%	14.05B	14.15B	+0.72%	+11.39%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2029	6.03	—	—	+7.74%	83.32B	—	—	+6.08%
FY2028	5.60	—	—	+9.45%	78.54B	—	—	+7.47%
FY2027	5.12	—	—	+18.41%	73.09B	—	—	+15.41%
FY2026	4.28	4.32	+1.02%	+13.68%	62.92B	63.33B	+0.65%	+11.77%
FY2025	3.79	3.80	+0.29%	+1.88%	56.62B	56.65B	+0.07%	+5.30%
FY2024	2.29	3.73	+62.73%	-3.87%	54.18B	53.80B	-0.69%	-5.61%
FY2023	3.81	3.88	+1.95%	+15.48%	56.84B	57.00B	+0.27%	+10.55%

Cisco Systems growth and profitability

Full income statement

Revenue (TTM): 63.33B USD
Net income (TTM): 13.27B USD
Gross margin: 64.52%
Operating margin: 24.27%
Net margin: 20.95%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2026	63.33B	+11.77%	13.27B	+30.32%	64.52%	24.27%	20.95%	20.02B	+30.61%
FY2025	56.65B	+5.30%	10.18B	-1.36%	64.94%	20.76%	17.97%	15.33B	-2.67%
FY2024	53.80B	-5.61%	10.32B	-18.18%	64.73%	22.64%	19.18%	15.75B	-9.87%
FY2023	57.00B	+10.55%	12.61B	+6.78%	62.73%	26.37%	22.13%	17.47B	+4.03%
FY2022	51.56B	+3.49%	11.81B	+11.53%	62.55%	27.09%	22.91%	16.79B	+7.94%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q4 FY2026	17.25B	3.86B	64.13%	24.72%	22.37%
Q3 FY2026	15.84B	3.37B	63.63%	25.00%	21.29%
Q2 FY2026	15.35B	3.18B	64.97%	24.63%	20.69%
Q1 FY2026	14.88B	2.86B	65.48%	22.60%	19.22%
Q4 FY2025	14.67B	2.55B	63.25%	21.04%	17.38%

How Cisco Systems makes its money

Networking34.67B 54.7%

Services15.03B 23.7%

Security8.23B 13.0%

Collaboration4.30B 6.8%

Observability1.10B 1.7%

Revenue63.33B 100.0%

Cost of revenue22.47B 35.5%

Gross profit40.86B 64.5%

Research and development9.56B 15.1%

Selling and administration14.32B 22.6%

Other operating expenses1.61B 2.5%

Operating income15.37B 24.3%

Tax2.74B 4.3%

Net income13.27B 21.0%

FY2026, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Cisco Systems revenue breakdown

By product

FY2026

54.7%Networking23.7%Services13.0%Security6.8%Collaboration1.7%Observability

Segment	Revenue	Share of revenue	Change on the year
Networking	34.67B	54.7%	+22.5%
Services	15.03B	23.7%	-0.1%
Security	8.23B	13.0%	+1.7%
Collaboration	4.30B	6.8%	+3.5%
Observability	1.10B	1.7%	+3.8%

By region

FY2026

59.7%UNITED STATES26.2%Europe Middle East And Africa14.1%Asia Pacific Japan And China

Region	Revenue	Share of revenue	Change on the year
UNITED STATES	37.80B	59.7%	+12.3%
Europe Middle East And Africa	16.61B	26.2%	+12.1%
Asia Pacific Japan And China	8.91B	14.1%	+9.1%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2026	14.18B	12.77B
FY2025	14.19B	13.29B
FY2024	10.88B	10.21B
FY2023	19.89B	19.04B
FY2022	13.23B	12.75B
FY2021	15.45B	14.76B
FY2020	15.43B	14.66B
FY2019	15.83B	14.92B
FY2018	13.67B	12.83B
FY2017	13.88B	12.91B

Cisco Systems financial health

Full balance sheet

Cash and short-term investments: 15.92B USD
Total debt: 29.53B USD
Net cash: -13.62B USD
Free cash flow (TTM): 13.60B USD
Current ratio: 0.93
Debt to equity: 0.59
Piotroski score: 8 / 9
Altman Z-score: 3.98

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2026	15.92B	29.53B	12.77B
FY2025	16.11B	28.09B	13.29B
FY2024	17.85B	30.97B	10.21B
FY2023	26.15B	8.39B	19.04B
FY2022	19.27B	10.56B	12.75B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2026	129.64B	79.35B	50.29B
FY2025	122.29B	75.45B	46.84B
FY2024	124.41B	78.96B	45.46B
FY2023	101.85B	57.50B	44.35B
FY2022	94.00B	54.23B	39.77B
FY2021	97.50B	56.22B	41.28B
FY2020	94.85B	56.93B	37.92B
FY2019	97.79B	64.22B	33.57B
FY2018	108.78B	65.58B	43.20B
FY2017	129.82B	63.68B	66.14B

Cisco Systems valuation

Price to earnings ratio (TTM): 30.83
Forward P/E (FY2027): 20.25
Price to sales (TTM): 6.45
Price to book: 8.12
EV / EBITDA (TTM): 21.09

Capital structure

Market capitalization

408.45B USD

Total debt

29.53B USD

−

Cash and short-term investments

15.92B USD

Enterprise value

422.07B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2029 (est.)	17.17	—	—	—	—
FY2028 (est.)	18.50	17.17	—	—	—
FY2027 (est.)	20.25	18.50	—	—	—
Now (TTM)	30.83	19.73	6.45	8.12	21.09
FY2026	33.98	22.33	7.13	8.98	23.66
FY2025	26.83	16.07	4.82	5.83	19.11
FY2024	18.78	12.65	3.60	4.26	13.78
FY2023	16.91	22.68	3.74	4.81	12.10
FY2022	16.03	11.93	3.67	4.76	11.47

Cisco Systems against its own history

Each figure in the latest fiscal year against the same figure from FY2022 to FY2026: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Motorola Solutions, Lumentum Holdings, and Ciena, the US Communication Equipment companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Above its median30.8
13.943.1
Gross marginAt its median64.5%
62.5%64.9%
Against its peers: 1 of 4Peers' median 42.0%
Operating marginAt its median24.3%
20.8%27.1%
Against its peers: 2 of 4Peers' median 17.4%
Net marginAt its median21.0%
18.0%22.9%
Against its peers: 1 of 4Peers' median 2.6%
Return on equityAt its median26.4%
21.7%29.7%
Against its peers: 2 of 4Peers' median 4.5%
Free cash flow marginBelow its median20.2%
19.0%33.4%
Against its peers: 2 of 4Peers' median 13.9%
Revenue growthHighest in 5 years11.8%
-5.6%11.8%
Against its peers: 3 of 4Peers' median 18.8%
EPS growthHighest in 5 years30.6%
-17.3%30.6%
Against its peers: 3 of 4Peers' median 38.2%
Debt to EBITDAAt its median1.48×
0.48×1.97×
Against its peers: 1 of 3Peers' median 3.43×
Current ratioBelow its median0.93
0.911.43
Against its peers: 4 of 4Peers' median 1.68

Figure	FY2026	5-year low – high	Against its history	Against its peers
P/E (today)	30.8	13.943.1	Above its median	—
Gross margin	64.5%	62.5%64.9%	At its median	1 of 4
Operating margin	24.3%	20.8%27.1%	At its median	2 of 4
Net margin	21.0%	18.0%22.9%	At its median	1 of 4
Return on equity	26.4%	21.7%29.7%	At its median	2 of 4
Free cash flow margin	20.2%	19.0%33.4%	Below its median	2 of 4
Revenue growth	11.8%	-5.6%11.8%	Highest in 5 years	3 of 4
EPS growth	30.6%	-17.3%30.6%	Highest in 5 years	3 of 4
Debt to EBITDA	1.48×	0.48×1.97×	At its median	1 of 3
Current ratio	0.93	0.911.43	Below its median	4 of 4

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Cisco Systems dividends

Annual dividend: 1.68 USD
Dividend yield (indicated): 1.62%
Payout ratio: 49.70%
Years of dividend growth: 15
Frequency: Quarterly
Last payment: 0.42 USD
Last ex-dividend date: 2 Oct 2026
Last payment date: 21 Oct 2026

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	1.63	1.59	1.55	1.51	1.47	1.43	1.38	1.28	1.13	0.99

Cisco Systems ownership

Institutions: 81.19%
Institutional holders: 4,227 (+346)
Free float: 99.83%

InstitutionsOthers

As of 30 Jun 2026

Insider trading

Quarter	Sales	Shares acquired	Shares disposed of
Q3 2026	21	588.90K	104.94K
Q2 2026	28	7.69K	121.37K
Q1 2026	18	1.15K	100.86K
Q4 2025	28	1.71M	2.07M

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2026	3.95B	3.99B	-0.28%
FY2025	3.98B	4.00B	-1.58%
FY2024	4.04B	4.06B	-1.05%
FY2023	4.09B	4.11B	-2.08%
FY2022	4.17B	4.19B	-1.04%

Common questions about Cisco Systems's financials

Source: Financial Modeling Prep

Cisco Systems
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CSCO

Cisco Systems financials

Cisco Systems earnings

Revenue

EPS

Cisco Systems growth and profitability

Revenue / Net income

How Cisco Systems makes its money

Cisco Systems revenue breakdown

By product

By region

Operating and free cash flow

Cisco Systems financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Cisco Systems valuation

Capital structure

Valuation over time

Cisco Systems against its own history

Cisco Systems dividends

Dividends per share

Cisco Systems ownership

Insider trading

Shares outstanding

Common questions about Cisco Systems's financials

Is Cisco Systems profitable?

Is Cisco Systems financially healthy?

Is Cisco Systems growing?

Where can I find Cisco Systems's annual report (10-K)?

Need help?

Cisco Systems DQuotes are delayed by 15 minutes

CSCO

Cisco Systems financials

Cisco Systems earnings

Revenue

EPS

Cisco Systems growth and profitability

Revenue / Net income

How Cisco Systems makes its money

Cisco Systems revenue breakdown

By product

By region

Operating and free cash flow

Cisco Systems financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Cisco Systems valuation

Capital structure

Valuation over time

Cisco Systems against its own history

Cisco Systems dividends

Dividends per share

Cisco Systems ownership

Insider trading

Shares outstanding

Common questions about Cisco Systems's financials

Is Cisco Systems profitable?

Is Cisco Systems financially healthy?

Is Cisco Systems growing?

Where can I find Cisco Systems's annual report (10-K)?

Need help?

Cisco Systems
D
Quotes are delayed by 15 minutes