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CSCO

Cisco Systems, Inc.

CSCO

Cisco Systems, Inc. • NASDAQ
$77.01 ▲ 1.24% (+0.94)
Market Cap $304.27 B
52w High $80.06
52w Low $52.11
Dividend Yield 1.63%
P/E 29.73
Volume 7.18M
Outstanding Shares 3.95B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $14.883B ▲ $6.382B ▲ $2.86B ▲ 19.217% ▼ $0.72 ▲ $4.347B ▼
Q4-2025 $14.673B ▲ $5.904B ▼ $2.823B ▲ 19.239% ▲ $0.71 ▲ $4.357B ▲
Q3-2025 $14.149B ▲ $6.076B ▲ $2.491B ▲ 17.605% ▲ $0.63 ▲ $3.976B ▼
Q2-2025 $13.991B ▲ $5.998B ▼ $2.428B ▼ 17.354% ▼ $0.61 ▼ $4.052B ▲
Q1-2025 $13.841B $6.763B $2.711B 19.587% $0.68 $3.474B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $15.736B ▼ $121.102B ▼ $74.229B ▼ $46.873B ▲
Q4-2025 $17.237B ▲ $122.291B ▲ $75.448B ▲ $46.843B ▲
Q3-2025 $17.147B ▲ $119.782B ▼ $73.847B ▼ $45.935B ▲
Q2-2025 $16.853B ▼ $121.375B ▼ $75.845B ▼ $45.53B ▲
Q1-2025 $18.671B $123.333B $78.056B $45.277B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $2.86B ▲ $3.212B ▼ $156M ▲ $-3.863B ▲ $-509M ▼ $2.889B ▼
Q4-2025 $2.823B ▲ $4.234B ▲ $-273M ▼ $-3.949B ▲ $-8M ▲ $4.017B ▲
Q3-2025 $2.491B ▲ $4.057B ▲ $505M ▼ $-5.137B ▼ $-590M ▲ $3.796B ▲
Q2-2025 $2.428B ▼ $2.241B ▼ $1.022B ▲ $-3.945B ▼ $-700M ▼ $2.031B ▼
Q1-2025 $2.711B $3.661B $479M $-2.784B $1.366B $3.444B

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Collaboration
Collaboration
 $1.08Bn ▲$1.00Bn ▼$1.03Bn ▲$1.04Bn ▲
Networking
Networking
 $6.75Bn ▲$6.85Bn ▲$7.07Bn ▲$7.63Bn ▲
Observability
Observability
 $260.00M ▲$280.00M ▲$260.00M ▼$260.00M ▲
Security
Security
 $2.02Bn ▲$2.11Bn ▲$2.01Bn ▼$1.95Bn ▼
Service
Service
 $3.73Bn ▲$3.76Bn ▲$3.77Bn ▲$10.70Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Cisco looks like a mature, steady earner rather than a fast grower. Revenue has edged up over the five‑year period with a brief soft patch in the middle, and profit margins have stayed solid throughout. Operating and net income remain healthy, though they peaked a couple of years ago and have eased slightly since, which is typical of a business navigating product and cycle shifts. Overall, the income statement tells a story of stability, strong profitability, and modest growth rather than big swings or aggressive expansion.

Balance Sheet

Balance Sheet The balance sheet is substantial and generally conservative, but with a clear rise in debt in recent years. Cash on hand is sizable and provides a cushion, yet the company is now more leveraged than it used to be, moving from very low debt levels to a more meaningful borrowing position. Shareholders’ equity has grown steadily, which supports balance sheet strength and indicates retained value over time. The main thing to watch is the higher debt load compared to the past, even though assets and equity have also increased.

Cash Flow

Cash Flow Cisco’s cash generation is a major strength. The company regularly turns its accounting profits into real cash, and it does so with relatively modest capital spending needs. Free cash flow has been consistently strong, even if it fluctuates from year to year as customer spending cycles and working capital move around. This leaves management with plenty of flexibility for debt service, acquisitions, and shareholder returns, and it helps offset concerns about slower revenue growth.

Competitive Edge

Competitive Edge Cisco still holds a leading position in networking and communications, supported by a long history, trusted brand, and very high switching costs for customers. Its products are deeply embedded in corporate and service‑provider networks, and a large ecosystem of partners and certified engineers reinforces that position. Competition is real—especially from more focused networking players and cloud‑centric vendors—but Cisco’s breadth of offerings, global support, and integrated hardware‑software platforms make it a default choice for many large enterprises. The moat is not unbreakable, but it is wide and reinforced by customer lock‑in and reputation for reliability.

Innovation and R&D

Innovation and R&D Innovation remains central to Cisco’s strategy, with significant ongoing investment in networking, security, collaboration tools, and cloud‑ready infrastructure. The company is pushing hard into software‑defined networking, platform‑based security, and AI‑enhanced operations, aiming to make its networks more automated and intelligent. Its new focus on AI‑ready data centers, an AI investment fund, and partnerships with major chip and AI players signal a deliberate attempt to stay relevant in the next computing wave. Acquisitions continue to be used to fill gaps and accelerate entry into newer areas like observability and advanced security, complementing in‑house R&D.

Summary

Overall, Cisco looks like a financially solid, cash‑rich, and highly profitable technology incumbent that has transitioned from hyper‑growth to a more mature, steady phase. The business generates strong free cash flow, carries a larger but still manageable debt load, and maintains a strong competitive position built on brand, ecosystem, and high switching costs. Strategically, it is working to evolve from a hardware‑centric model toward software, platforms, and AI‑driven offerings, especially in security and data‑center networking. Key things to monitor are how well it executes this transition, how it manages its higher debt level, and whether it can defend and expand its share in a fast‑changing, AI‑driven infrastructure market.

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