Cisco Systems, Inc. (CSCO) Financials

30Y historyFree accessUpdated daily

Revenue growth has accelerated to 12.0% in 2026Q3, supported by structural gross margin stability near 63.6% despite ongoing shifts in the product mix.

Annual Quarterly

Metric	TTM	Jul'25	Jul'24	Jul'23	Jul'22	Jul'21	Jul'20	Jul'19	Jul'18	Jul'17	Jul'16	Jul'15	Jul'14	Jul'13	Jul'12	Jul'11	Jul'10	Jul'09	Jul'08	Jul'07	Jul'06	Jul'05	Jul'04	Jul'03	Jul'02	Jul'01	Jul'00	Jul'99	Jul'98	Jul'97	Jul'96

Sales/Revenue	60.75B	56.65B	53.8B	57B	51.56B	49.82B	49.3B	51.9B	49.33B	48.01B	49.25B	49.16B	47.14B	48.61B	46.06B	43.22B	40.04B	36.12B	39.54B	34.92B	28.48B	24.8B	22.05B	18.88B	18.91B	22.29B	18.93B	12.15B	8.46B	6.44B	4.1B
Revenue Growth %	9.21%	5.3%	-5.61%	10.55%	3.49%	1.05%	-5.01%	5.22%	2.76%	-2.52%	0.17%	4.28%	-3.01%	5.53%	6.58%	7.94%	10.86%	-8.66%	13.22%	22.6%	14.85%	12.5%	16.78%	-0.2%	-15.15%	17.78%	55.73%	43.69%	31.34%	57.23%	106.98%
Cost of Goods Sold	21.67B	19.86B	18.98B	21.25B	19.31B	17.92B	17.62B	19.24B	18.72B	17.78B	18.29B	19.48B	19.37B	19.17B	17.85B	16.68B	14.4B	13.02B	14.06B	12.59B	9.74B	8.13B	6.92B	5.64B	6.9B	11.22B	6.75B	4.24B	2.92B	2.24B	1.41B
COGS % of Revenue	-	35.06%	35.27%	37.27%	37.45%	35.98%	35.74%	37.06%	37.96%	37.04%	37.13%	39.62%	41.09%	39.43%	38.76%	38.6%	35.96%	36.06%	35.55%	36.04%	34.18%	32.78%	31.39%	29.9%	36.49%	50.33%	35.64%	34.89%	34.49%	34.8%	34.42%
Gross Profit	39.08B	36.79B	34.83B	35.75B	32.25B	31.89B	31.68B	32.67B	30.61B	30.22B	30.96B	29.68B	27.77B	29.44B	28.21B	26.54B	25.64B	23.09B	25.48B	22.34B	18.75B	16.67B	15.13B	13.23B	12.01B	11.07B	12.18B	7.91B	5.54B	4.2B	2.69B
Gross Margin %	64.33%	64.94%	64.73%	62.73%	62.55%	64.02%	64.26%	62.94%	62.04%	62.96%	62.87%	60.38%	58.9%	60.57%	61.24%	61.4%	64.04%	63.94%	64.45%	63.96%	65.82%	67.22%	68.61%	70.1%	63.51%	49.67%	64.36%	65.11%	65.51%	65.2%	65.58%
Gross Profit Growth %	-	5.63%	-2.59%	10.87%	1.11%	0.67%	-3.01%	6.73%	1.26%	-2.38%	4.31%	6.89%	-5.68%	4.36%	6.3%	3.48%	11.04%	-9.38%	14.09%	19.14%	12.45%	10.21%	14.31%	10.16%	8.5%	-9.11%	53.93%	42.82%	31.97%	56.31%	101.24%
Operating Expenses	24.89B	25.03B	22.65B	20.72B	18.28B	19.06B	18.06B	18.45B	18.3B	18.25B	18.3B	18.91B	18.01B	18.24B	18.05B	18.06B	16.48B	15.18B	15.9B	13.23B	11.75B	9.26B	8.83B	8.35B	9.09B	11.91B	8.95B	4.93B	3.44B	2.57B	1.29B
OpEx % of Revenue	-	44.18%	42.09%	36.36%	35.45%	38.26%	36.64%	35.54%	37.09%	38.02%	37.16%	38.47%	38.2%	37.53%	39.18%	41.8%	41.16%	42.02%	40.22%	37.88%	41.25%	37.32%	40.07%	44.24%	48.08%	53.41%	47.27%	40.56%	40.63%	39.93%	31.38%
Selling, General & Admin	14.21B	13.95B	13.18B	12.36B	11.19B	11.41B	11.09B	11.4B	11.39B	11.18B	11.43B	11.86B	11.44B	11.8B	11.97B	11.72B	10.71B	9.97B	10.39B	8.73B	7.2B	5.68B	5.4B	4.82B	4.88B	6.07B	4.58B	2.87B	1.82B	1.36B	886.05M
SG&A % of Revenue	-	24.62%	24.49%	21.68%	21.7%	22.91%	22.5%	21.96%	23.08%	23.28%	23.22%	24.13%	24.26%	24.28%	25.99%	27.12%	26.76%	27.6%	26.27%	24.99%	25.28%	22.9%	24.48%	25.52%	25.81%	27.25%	24.19%	23.57%	21.55%	21.19%	21.63%
Research & Development	9.51B	9.3B	7.98B	7.55B	6.77B	6.55B	6.35B	6.58B	6.33B	6.06B	6.3B	6.21B	6.29B	5.94B	5.49B	5.82B	5.27B	5.27B	5.16B	4.58B	4.16B	3.35B	3.19B	3.14B	3.51B	4.78B	4.08B	2.06B	1.61B	1.21B	399.29M
R&D % of Revenue	-	16.42%	14.84%	13.25%	13.14%	13.15%	12.87%	12.67%	12.84%	12.62%	12.78%	12.63%	13.35%	12.22%	11.91%	13.47%	13.17%	14.59%	13.04%	13.11%	14.6%	13.5%	14.49%	16.63%	18.57%	21.43%	21.54%	16.99%	19.08%	18.73%	9.75%
Other Operating Expenses	4M	1.78B	1.49B	813M	319M	1.1B	622M	472M	579M	1.01B	571M	843M	275M	500M	590M	520M	491M	-63M	361M	0	393M	227M	242M	394M	699M	1.05B	291M	0	0	0	0
Operating Income	14.19B	11.76B	12.18B	15.03B	13.97B	12.83B	13.62B	14.22B	12.31B	11.97B	12.66B	10.77B	9.35B	11.34B	10.46B	7.67B	9.16B	7.32B	9.44B	8.62B	7B	7.42B	6.29B	4.88B	2.92B	-2B	3.23B	2.98B	2.1B	1.63B	1.4B
Operating Margin %	23.36%	20.76%	22.64%	26.37%	27.09%	25.76%	27.63%	27.39%	24.95%	24.94%	25.71%	21.91%	19.82%	23.33%	22.71%	17.76%	22.89%	20.27%	23.88%	24.69%	24.56%	29.9%	28.54%	25.86%	15.43%	-8.99%	17.09%	24.55%	24.88%	25.27%	34.2%
Operating Income Growth %	-	-3.46%	-18.96%	7.6%	8.85%	-5.78%	-4.21%	15.52%	2.81%	-5.43%	17.55%	15.25%	-17.61%	8.41%	36.33%	-16.26%	25.16%	-22.45%	9.52%	23.23%	-5.66%	17.86%	28.88%	67.25%	245.66%	-161.95%	8.41%	41.8%	29.32%	16.17%	117.88%
EBITDA	16.55B	14.62B	14.69B	16.76B	15.93B	14.7B	15.43B	16.12B	14.5B	14.21B	14.74B	13.21B	11.78B	13.69B	12.67B	10.16B	11.19B	9.09B	11.19B	10.03B	8.29B	8.43B	7.49B	6.34B	4.88B	232M	4.1B	3.47B	2.43B	1.84B	1.53B
EBITDA Margin %	27.24%	25.81%	27.3%	29.4%	30.89%	29.5%	31.29%	31.05%	29.39%	29.61%	29.92%	26.88%	24.98%	28.17%	27.51%	23.51%	27.96%	25.17%	28.29%	28.73%	29.1%	33.97%	33.98%	33.61%	25.78%	1.04%	21.65%	28.55%	28.75%	28.56%	37.44%
EBITDA Growth %	15.79%	-0.45%	-12.35%	5.22%	8.38%	-4.75%	-4.27%	11.14%	2.03%	-3.56%	11.54%	12.18%	-13.99%	8.07%	24.7%	-9.24%	23.15%	-18.74%	11.48%	21.05%	-1.61%	12.47%	18.06%	30.13%	2001.72%	-94.34%	18.1%	42.7%	32.19%	19.96%	113.6%
D&A (Non-Cash Add-back)	1.9B	2.86B	2.51B	1.73B	1.96B	1.86B	1.81B	1.9B	2.19B	2.24B	2.08B	2.44B	2.43B	2.35B	2.21B	2.49B	2.03B	1.77B	1.74B	1.41B	1.29B	1.01B	1.2B	1.46B	1.96B	2.24B	863M	486M	327.33M	212.2M	132.59M
EBIT	15.54B	12.52B	13.24B	15.74B	14.84B	13.7B	14.55B	15.43B	13.98B	13.14B	13.6B	11.77B	10.28B	11.81B	10.76B	8.45B	10.04B	8.04B	10.57B	9.84B	7.78B	8.04B	6.29B	4.88B	2.92B	-834M	3.23B	2.87B	2.07B	1.63B	1.4B
Net Interest Income	-592M	-592M	359M	535M	116M	184M	335M	449M	565M	477M	329M	203M	127M	71M	54M	13M	12M	499M	824M	715M	607M	552M	512M	660M	895M	967M	1.11B	330M	196M	110M	64.02M
Interest Income	873M	1B	1.36B	962M	476M	618M	920M	1.31B	1.51B	1.34B	1B	769M	691M	654M	650M	641M	635M	845M	1.14B	1.09B	755M	552M	512M	660M	895M	967M	1.11B	330M	196M	110M	64.02M
Interest Expense	1.47B	1.59B	1.01B	427M	360M	434M	585M	859M	943M	861M	676M	566M	564M	583M	596M	628M	623M	346M	319M	377M	148M	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-116M	-660M	53M	287M	508M	429M	350M	352M	730M	314M	260M	431M	370M	-115M	-303M	151M	251M	371M	813M	840M	637M	594M	700M	131M	-209M	1.13B	1.11B	219M	166.65M	263.71M	64.02M
Pretax Income	14.07B	11.1B	12.23B	15.32B	14.48B	13.26B	13.97B	14.57B	13.04B	12.29B	12.92B	11.2B	9.71B	11.23B	10.16B	7.83B	9.41B	7.69B	10.26B	9.46B	7.63B	8.04B	6.99B	5.01B	2.71B	-874M	4.34B	3.32B	2.3B	1.89B	1.46B
Pretax Margin %	23.17%	19.59%	22.74%	26.87%	28.08%	26.62%	28.34%	28.07%	26.43%	25.6%	26.24%	22.78%	20.61%	23.1%	22.06%	18.11%	23.51%	21.3%	25.94%	27.09%	26.8%	32.4%	31.72%	26.55%	14.33%	-3.92%	22.94%	27.28%	27.22%	29.33%	35.76%
Income Tax	2.12B	920M	1.91B	2.71B	2.67B	2.67B	2.76B	2.95B	12.93B	2.68B	2.18B	2.22B	1.86B	1.24B	2.12B	1.33B	1.65B	1.56B	2.2B	2.13B	2.05B	2.29B	2.02B	1.44B	817M	140M	1.68B	1.22B	952.39M	840.19M	551.5M
Effective Tax Rate %	15.04%	8.29%	15.64%	17.66%	18.41%	20.14%	19.73%	20.25%	99.16%	21.8%	16.88%	19.82%	19.17%	11.08%	20.85%	17.06%	17.5%	20.27%	21.48%	22.49%	26.9%	28.56%	28.95%	28.63%	30.15%	-16.02%	38.57%	36.79%	41.36%	44.48%	37.65%
Net Income	11.96B	10.18B	10.32B	12.61B	11.81B	10.59B	11.21B	11.62B	110M	9.61B	10.74B	8.98B	7.85B	9.98B	8.04B	6.49B	7.77B	6.13B	8.05B	7.33B	5.58B	5.74B	4.4B	3.58B	1.89B	-1.01B	2.67B	2.1B	1.35B	1.05B	913.32M
Net Margin %	19.69%	17.97%	19.18%	22.13%	22.91%	21.26%	22.75%	22.39%	0.22%	20.02%	21.81%	18.27%	16.66%	20.54%	17.46%	15.02%	19.4%	16.98%	20.36%	21%	19.59%	23.15%	19.96%	18.95%	10.01%	-4.55%	14.1%	17.25%	15.96%	16.28%	22.3%
Net Income Growth %	22.12%	-1.36%	-18.18%	6.78%	11.53%	-5.56%	-3.5%	10464.55%	-98.86%	-10.52%	19.57%	14.36%	-21.34%	24.15%	23.9%	-16.44%	26.62%	-23.82%	9.8%	31.42%	-2.8%	30.45%	23%	89.01%	286.69%	-138.01%	27.29%	55.25%	28.74%	14.82%	116.94%
Net Income (Continuing)	11.96B	10.18B	10.32B	12.61B	11.81B	10.59B	11.21B	11.62B	110M	9.61B	10.74B	8.98B	7.85B	9.98B	8.04B	6.49B	7.77B	6.13B	8.05B	7.33B	5.58B	5.74B	4.97B	3.58B	1.89B	-1.01B	2.67B	2.02B	1.33B	1.05B	913.32M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	-1M	9M	7M	8M	15M	33M	18M	30M	49M	10M	6M	10M	90M	10M	15M	22M	45M	44M	43M	42.25M	41.26M
EPS (Diluted)	3.00	2.55	2.54	3.07	2.82	2.50	2.64	2.61	0.02	1.90	2.11	1.75	1.49	1.86	1.49	1.17	1.33	1.05	1.31	1.17	0.89	0.87	0.62	0.50	0.25	-0.14	0.36	0.29	0.20	0.17	0.15
EPS Growth %	22.45%	0.39%	-17.26%	8.87%	12.8%	-5.3%	1.15%	11500%	-98.82%	-9.95%	20.57%	17.45%	-19.89%	24.83%	27.35%	-12.03%	26.67%	-19.85%	11.97%	31.46%	2.3%	40.32%	24%	100%	278.57%	-138.89%	24.14%	45%	17.65%	13.33%	-6.25%
EPS (Basic)	-	2.56	2.55	3.08	2.83	2.51	2.65	2.63	0.02	1.92	2.13	1.76	1.50	1.87	1.50	1.17	1.36	1.05	1.35	1.21	0.91	0.88	0.64	0.50	0.26	-0.14	0.39	0.30	0.21	0.18	0.16
Diluted Shares Outstanding	3.99B	4B	4.06B	4.11B	4.19B	4.24B	4.25B	4.45B	4.88B	5.05B	5.09B	5.15B	5.28B	5.38B	5.4B	5.56B	5.85B	5.86B	6.16B	6.26B	6.27B	6.61B	7.06B	7.22B	7.45B	7.2B	7.44B	7.06B	6.66B	6.26B	5.96B
Basic Shares Outstanding	3.95B	3.98B	4.04B	4.09B	4.17B	4.22B	4.24B	4.42B	4.84B	5.01B	5.05B	5.1B	5.23B	5.33B	5.37B	5.53B	5.73B	5.83B	5.99B	6.05B	6.16B	6.49B	6.84B	7.12B	7.3B	7.2B	6.92B	6.65B	6.31B	5.98B	5.75B
Dividend Payout Ratio	-	63.23%	61.86%	49.96%	52.69%	58.19%	53.65%	51.45%	5425.45%	57.35%	44.23%	45.5%	47.85%	33.16%	18.67%	10.14%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Key Metrics

Growth RegimeAccelerating

ProfitabilityStrong

Balance SheetHealthy

Cash FlowRobust

Top Statement Risk

Hardware cycle demand volatility

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q3)

Revenue Growth Momentum Accelerating Significantly

According to the most recent quarterly filings, Cisco's revenue growth has accelerated to 12.0% in 2026Q3, marking a clear recovery from the contraction observed in 2024, suggesting that the company's transition toward a recurring software-centric model is beginning to yield tangible top-line expansion.

The shift from hardware-heavy transactional sales to a subscription-based model appears to be stabilizing the revenue base against traditional cyclicality. Investors should monitor whether this growth trajectory is sustainable or if it remains tethered to the lumpy nature of large-scale enterprise infrastructure refreshes.

Structural Gross Margin Stability Maintained

As reported in financial statements, Cisco has maintained a robust gross margin profile, hovering near 63.6% in 2026Q3, which demonstrates the company's ability to preserve pricing power despite ongoing supply chain complexities and the integration of lower-margin hardware components into its broader software-defined ecosystem.

The consistency of these margins suggests that the company's proprietary networking stack remains a critical component for enterprise clients, insulating it from the aggressive price competition seen in commodity hardware. However, the potential for margin compression remains if the mix shifts too heavily toward hardware-centric AI infrastructure deployments.

Operating Leverage Scaling With Efficiency

Based on the reported figures, Cisco's operating income reached $4.0 billion in 2026Q3, reflecting a significant improvement in operating leverage as the company scales its software-driven revenue streams while keeping R&D and SG&A expenses relatively contained compared to the rapid growth in top-line performance.

The ability to grow operating income faster than revenue suggests that the company is successfully optimizing its massive global sales force and R&D investments. This trend warrants further investigation to determine if the current operating margin of 25% represents a new structural ceiling or a baseline for further expansion.

Stock-Based Compensation Impacts Earnings Quality

As disclosed in recent quarterly data, Cisco's stock-based compensation remains elevated at $1.1 billion in 2026Q3, which necessitates a cautious approach when evaluating the quality of reported net income and the sustainability of the current EPS growth rate of 37.1% observed in the latest period.

While GAAP earnings show strong momentum, the persistent reliance on equity-based incentives may mask the true cash cost of talent retention following large-scale acquisitions. Investors should adjust for these non-cash expenses to gain a clearer view of the underlying profitability and free cash flow generation.

Sustainability of Growth Remains Uncertain

Based on historical income statement trends, skeptics may argue that the recent revenue acceleration is merely a recovery from post-pandemic backlog normalization rather than a permanent shift in growth, as evidenced by the volatile EPS fluctuations seen between 2024 and 2026, which suggest underlying cyclical sensitivity.

The reliance on large-scale acquisitions to drive growth may indicate that organic innovation in core networking is struggling to keep pace with industry shifts. If the expected synergies from recent software integrations fail to materialize, the company may face significant pressure to justify its current valuation multiples.

CSCO — Frequently Asked Questions

Quick answers to the most common questions about buying CSCO stock.

What was Cisco Systems, Inc.'s (CSCO) revenue in 2025?

For fiscal year 2025, Cisco Systems, Inc. (CSCO) reported total revenue of $56.65B. This represents a 1283.2% increase compared to $4.10B in 1996.

Is Cisco Systems, Inc. (CSCO) profitable?

Cisco Systems, Inc. (CSCO) is profitable, generating $10.18B in net income for the fiscal year ending 2025 with a net profit margin of 18.0%.

What is Cisco Systems, Inc.'s operating profit margin?

Cisco Systems, Inc. (CSCO) reported an operating income of $11.76B, resulting in an operating profit margin of 20.8%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Cisco Systems, Inc.'s gross profit and gross margin?

Cisco Systems, Inc. (CSCO) generated $36.79B in gross profit for the year, representing a gross profit margin of 64.9%. This demonstrates the company's core pricing power and production efficiency.

Cisco Systems, Inc. (CSCO) Financials

30Y historyFree accessUpdated daily

Revenue growth has accelerated to 12.0% in 2026Q3, supported by structural gross margin stability near 63.6% despite ongoing shifts in the product mix.

Annual Quarterly

Metric	TTM	Jul'25	Jul'24	Jul'23	Jul'22	Jul'21	Jul'20	Jul'19	Jul'18	Jul'17	Jul'16	Jul'15	Jul'14	Jul'13	Jul'12	Jul'11	Jul'10	Jul'09	Jul'08	Jul'07	Jul'06	Jul'05	Jul'04	Jul'03	Jul'02	Jul'01	Jul'00	Jul'99	Jul'98	Jul'97	Jul'96

Sales/Revenue	60.75B	56.65B	53.8B	57B	51.56B	49.82B	49.3B	51.9B	49.33B	48.01B	49.25B	49.16B	47.14B	48.61B	46.06B	43.22B	40.04B	36.12B	39.54B	34.92B	28.48B	24.8B	22.05B	18.88B	18.91B	22.29B	18.93B	12.15B	8.46B	6.44B	4.1B
Revenue Growth %	9.21%	5.3%	-5.61%	10.55%	3.49%	1.05%	-5.01%	5.22%	2.76%	-2.52%	0.17%	4.28%	-3.01%	5.53%	6.58%	7.94%	10.86%	-8.66%	13.22%	22.6%	14.85%	12.5%	16.78%	-0.2%	-15.15%	17.78%	55.73%	43.69%	31.34%	57.23%	106.98%
Cost of Goods Sold	21.67B	19.86B	18.98B	21.25B	19.31B	17.92B	17.62B	19.24B	18.72B	17.78B	18.29B	19.48B	19.37B	19.17B	17.85B	16.68B	14.4B	13.02B	14.06B	12.59B	9.74B	8.13B	6.92B	5.64B	6.9B	11.22B	6.75B	4.24B	2.92B	2.24B	1.41B
COGS % of Revenue	-	35.06%	35.27%	37.27%	37.45%	35.98%	35.74%	37.06%	37.96%	37.04%	37.13%	39.62%	41.09%	39.43%	38.76%	38.6%	35.96%	36.06%	35.55%	36.04%	34.18%	32.78%	31.39%	29.9%	36.49%	50.33%	35.64%	34.89%	34.49%	34.8%	34.42%
Gross Profit	39.08B	36.79B	34.83B	35.75B	32.25B	31.89B	31.68B	32.67B	30.61B	30.22B	30.96B	29.68B	27.77B	29.44B	28.21B	26.54B	25.64B	23.09B	25.48B	22.34B	18.75B	16.67B	15.13B	13.23B	12.01B	11.07B	12.18B	7.91B	5.54B	4.2B	2.69B
Gross Margin %	64.33%	64.94%	64.73%	62.73%	62.55%	64.02%	64.26%	62.94%	62.04%	62.96%	62.87%	60.38%	58.9%	60.57%	61.24%	61.4%	64.04%	63.94%	64.45%	63.96%	65.82%	67.22%	68.61%	70.1%	63.51%	49.67%	64.36%	65.11%	65.51%	65.2%	65.58%
Gross Profit Growth %	-	5.63%	-2.59%	10.87%	1.11%	0.67%	-3.01%	6.73%	1.26%	-2.38%	4.31%	6.89%	-5.68%	4.36%	6.3%	3.48%	11.04%	-9.38%	14.09%	19.14%	12.45%	10.21%	14.31%	10.16%	8.5%	-9.11%	53.93%	42.82%	31.97%	56.31%	101.24%
Operating Expenses	24.89B	25.03B	22.65B	20.72B	18.28B	19.06B	18.06B	18.45B	18.3B	18.25B	18.3B	18.91B	18.01B	18.24B	18.05B	18.06B	16.48B	15.18B	15.9B	13.23B	11.75B	9.26B	8.83B	8.35B	9.09B	11.91B	8.95B	4.93B	3.44B	2.57B	1.29B
OpEx % of Revenue	-	44.18%	42.09%	36.36%	35.45%	38.26%	36.64%	35.54%	37.09%	38.02%	37.16%	38.47%	38.2%	37.53%	39.18%	41.8%	41.16%	42.02%	40.22%	37.88%	41.25%	37.32%	40.07%	44.24%	48.08%	53.41%	47.27%	40.56%	40.63%	39.93%	31.38%
Selling, General & Admin	14.21B	13.95B	13.18B	12.36B	11.19B	11.41B	11.09B	11.4B	11.39B	11.18B	11.43B	11.86B	11.44B	11.8B	11.97B	11.72B	10.71B	9.97B	10.39B	8.73B	7.2B	5.68B	5.4B	4.82B	4.88B	6.07B	4.58B	2.87B	1.82B	1.36B	886.05M
SG&A % of Revenue	-	24.62%	24.49%	21.68%	21.7%	22.91%	22.5%	21.96%	23.08%	23.28%	23.22%	24.13%	24.26%	24.28%	25.99%	27.12%	26.76%	27.6%	26.27%	24.99%	25.28%	22.9%	24.48%	25.52%	25.81%	27.25%	24.19%	23.57%	21.55%	21.19%	21.63%
Research & Development	9.51B	9.3B	7.98B	7.55B	6.77B	6.55B	6.35B	6.58B	6.33B	6.06B	6.3B	6.21B	6.29B	5.94B	5.49B	5.82B	5.27B	5.27B	5.16B	4.58B	4.16B	3.35B	3.19B	3.14B	3.51B	4.78B	4.08B	2.06B	1.61B	1.21B	399.29M
R&D % of Revenue	-	16.42%	14.84%	13.25%	13.14%	13.15%	12.87%	12.67%	12.84%	12.62%	12.78%	12.63%	13.35%	12.22%	11.91%	13.47%	13.17%	14.59%	13.04%	13.11%	14.6%	13.5%	14.49%	16.63%	18.57%	21.43%	21.54%	16.99%	19.08%	18.73%	9.75%
Other Operating Expenses	4M	1.78B	1.49B	813M	319M	1.1B	622M	472M	579M	1.01B	571M	843M	275M	500M	590M	520M	491M	-63M	361M	0	393M	227M	242M	394M	699M	1.05B	291M	0	0	0	0
Operating Income	14.19B	11.76B	12.18B	15.03B	13.97B	12.83B	13.62B	14.22B	12.31B	11.97B	12.66B	10.77B	9.35B	11.34B	10.46B	7.67B	9.16B	7.32B	9.44B	8.62B	7B	7.42B	6.29B	4.88B	2.92B	-2B	3.23B	2.98B	2.1B	1.63B	1.4B
Operating Margin %	23.36%	20.76%	22.64%	26.37%	27.09%	25.76%	27.63%	27.39%	24.95%	24.94%	25.71%	21.91%	19.82%	23.33%	22.71%	17.76%	22.89%	20.27%	23.88%	24.69%	24.56%	29.9%	28.54%	25.86%	15.43%	-8.99%	17.09%	24.55%	24.88%	25.27%	34.2%
Operating Income Growth %	-	-3.46%	-18.96%	7.6%	8.85%	-5.78%	-4.21%	15.52%	2.81%	-5.43%	17.55%	15.25%	-17.61%	8.41%	36.33%	-16.26%	25.16%	-22.45%	9.52%	23.23%	-5.66%	17.86%	28.88%	67.25%	245.66%	-161.95%	8.41%	41.8%	29.32%	16.17%	117.88%
EBITDA	16.55B	14.62B	14.69B	16.76B	15.93B	14.7B	15.43B	16.12B	14.5B	14.21B	14.74B	13.21B	11.78B	13.69B	12.67B	10.16B	11.19B	9.09B	11.19B	10.03B	8.29B	8.43B	7.49B	6.34B	4.88B	232M	4.1B	3.47B	2.43B	1.84B	1.53B
EBITDA Margin %	27.24%	25.81%	27.3%	29.4%	30.89%	29.5%	31.29%	31.05%	29.39%	29.61%	29.92%	26.88%	24.98%	28.17%	27.51%	23.51%	27.96%	25.17%	28.29%	28.73%	29.1%	33.97%	33.98%	33.61%	25.78%	1.04%	21.65%	28.55%	28.75%	28.56%	37.44%
EBITDA Growth %	15.79%	-0.45%	-12.35%	5.22%	8.38%	-4.75%	-4.27%	11.14%	2.03%	-3.56%	11.54%	12.18%	-13.99%	8.07%	24.7%	-9.24%	23.15%	-18.74%	11.48%	21.05%	-1.61%	12.47%	18.06%	30.13%	2001.72%	-94.34%	18.1%	42.7%	32.19%	19.96%	113.6%
D&A (Non-Cash Add-back)	1.9B	2.86B	2.51B	1.73B	1.96B	1.86B	1.81B	1.9B	2.19B	2.24B	2.08B	2.44B	2.43B	2.35B	2.21B	2.49B	2.03B	1.77B	1.74B	1.41B	1.29B	1.01B	1.2B	1.46B	1.96B	2.24B	863M	486M	327.33M	212.2M	132.59M
EBIT	15.54B	12.52B	13.24B	15.74B	14.84B	13.7B	14.55B	15.43B	13.98B	13.14B	13.6B	11.77B	10.28B	11.81B	10.76B	8.45B	10.04B	8.04B	10.57B	9.84B	7.78B	8.04B	6.29B	4.88B	2.92B	-834M	3.23B	2.87B	2.07B	1.63B	1.4B
Net Interest Income	-592M	-592M	359M	535M	116M	184M	335M	449M	565M	477M	329M	203M	127M	71M	54M	13M	12M	499M	824M	715M	607M	552M	512M	660M	895M	967M	1.11B	330M	196M	110M	64.02M
Interest Income	873M	1B	1.36B	962M	476M	618M	920M	1.31B	1.51B	1.34B	1B	769M	691M	654M	650M	641M	635M	845M	1.14B	1.09B	755M	552M	512M	660M	895M	967M	1.11B	330M	196M	110M	64.02M
Interest Expense	1.47B	1.59B	1.01B	427M	360M	434M	585M	859M	943M	861M	676M	566M	564M	583M	596M	628M	623M	346M	319M	377M	148M	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-116M	-660M	53M	287M	508M	429M	350M	352M	730M	314M	260M	431M	370M	-115M	-303M	151M	251M	371M	813M	840M	637M	594M	700M	131M	-209M	1.13B	1.11B	219M	166.65M	263.71M	64.02M
Pretax Income	14.07B	11.1B	12.23B	15.32B	14.48B	13.26B	13.97B	14.57B	13.04B	12.29B	12.92B	11.2B	9.71B	11.23B	10.16B	7.83B	9.41B	7.69B	10.26B	9.46B	7.63B	8.04B	6.99B	5.01B	2.71B	-874M	4.34B	3.32B	2.3B	1.89B	1.46B
Pretax Margin %	23.17%	19.59%	22.74%	26.87%	28.08%	26.62%	28.34%	28.07%	26.43%	25.6%	26.24%	22.78%	20.61%	23.1%	22.06%	18.11%	23.51%	21.3%	25.94%	27.09%	26.8%	32.4%	31.72%	26.55%	14.33%	-3.92%	22.94%	27.28%	27.22%	29.33%	35.76%
Income Tax	2.12B	920M	1.91B	2.71B	2.67B	2.67B	2.76B	2.95B	12.93B	2.68B	2.18B	2.22B	1.86B	1.24B	2.12B	1.33B	1.65B	1.56B	2.2B	2.13B	2.05B	2.29B	2.02B	1.44B	817M	140M	1.68B	1.22B	952.39M	840.19M	551.5M
Effective Tax Rate %	15.04%	8.29%	15.64%	17.66%	18.41%	20.14%	19.73%	20.25%	99.16%	21.8%	16.88%	19.82%	19.17%	11.08%	20.85%	17.06%	17.5%	20.27%	21.48%	22.49%	26.9%	28.56%	28.95%	28.63%	30.15%	-16.02%	38.57%	36.79%	41.36%	44.48%	37.65%
Net Income	11.96B	10.18B	10.32B	12.61B	11.81B	10.59B	11.21B	11.62B	110M	9.61B	10.74B	8.98B	7.85B	9.98B	8.04B	6.49B	7.77B	6.13B	8.05B	7.33B	5.58B	5.74B	4.4B	3.58B	1.89B	-1.01B	2.67B	2.1B	1.35B	1.05B	913.32M
Net Margin %	19.69%	17.97%	19.18%	22.13%	22.91%	21.26%	22.75%	22.39%	0.22%	20.02%	21.81%	18.27%	16.66%	20.54%	17.46%	15.02%	19.4%	16.98%	20.36%	21%	19.59%	23.15%	19.96%	18.95%	10.01%	-4.55%	14.1%	17.25%	15.96%	16.28%	22.3%
Net Income Growth %	22.12%	-1.36%	-18.18%	6.78%	11.53%	-5.56%	-3.5%	10464.55%	-98.86%	-10.52%	19.57%	14.36%	-21.34%	24.15%	23.9%	-16.44%	26.62%	-23.82%	9.8%	31.42%	-2.8%	30.45%	23%	89.01%	286.69%	-138.01%	27.29%	55.25%	28.74%	14.82%	116.94%
Net Income (Continuing)	11.96B	10.18B	10.32B	12.61B	11.81B	10.59B	11.21B	11.62B	110M	9.61B	10.74B	8.98B	7.85B	9.98B	8.04B	6.49B	7.77B	6.13B	8.05B	7.33B	5.58B	5.74B	4.97B	3.58B	1.89B	-1.01B	2.67B	2.02B	1.33B	1.05B	913.32M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	-1M	9M	7M	8M	15M	33M	18M	30M	49M	10M	6M	10M	90M	10M	15M	22M	45M	44M	43M	42.25M	41.26M
EPS (Diluted)	3.00	2.55	2.54	3.07	2.82	2.50	2.64	2.61	0.02	1.90	2.11	1.75	1.49	1.86	1.49	1.17	1.33	1.05	1.31	1.17	0.89	0.87	0.62	0.50	0.25	-0.14	0.36	0.29	0.20	0.17	0.15
EPS Growth %	22.45%	0.39%	-17.26%	8.87%	12.8%	-5.3%	1.15%	11500%	-98.82%	-9.95%	20.57%	17.45%	-19.89%	24.83%	27.35%	-12.03%	26.67%	-19.85%	11.97%	31.46%	2.3%	40.32%	24%	100%	278.57%	-138.89%	24.14%	45%	17.65%	13.33%	-6.25%
EPS (Basic)	-	2.56	2.55	3.08	2.83	2.51	2.65	2.63	0.02	1.92	2.13	1.76	1.50	1.87	1.50	1.17	1.36	1.05	1.35	1.21	0.91	0.88	0.64	0.50	0.26	-0.14	0.39	0.30	0.21	0.18	0.16
Diluted Shares Outstanding	3.99B	4B	4.06B	4.11B	4.19B	4.24B	4.25B	4.45B	4.88B	5.05B	5.09B	5.15B	5.28B	5.38B	5.4B	5.56B	5.85B	5.86B	6.16B	6.26B	6.27B	6.61B	7.06B	7.22B	7.45B	7.2B	7.44B	7.06B	6.66B	6.26B	5.96B
Basic Shares Outstanding	3.95B	3.98B	4.04B	4.09B	4.17B	4.22B	4.24B	4.42B	4.84B	5.01B	5.05B	5.1B	5.23B	5.33B	5.37B	5.53B	5.73B	5.83B	5.99B	6.05B	6.16B	6.49B	6.84B	7.12B	7.3B	7.2B	6.92B	6.65B	6.31B	5.98B	5.75B
Dividend Payout Ratio	-	63.23%	61.86%	49.96%	52.69%	58.19%	53.65%	51.45%	5425.45%	57.35%	44.23%	45.5%	47.85%	33.16%	18.67%	10.14%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Key Metrics

Growth RegimeAccelerating

ProfitabilityStrong

Balance SheetHealthy

Cash FlowRobust

Top Statement Risk

Hardware cycle demand volatility

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q3)

Revenue Growth Momentum Accelerating Significantly

Structural Gross Margin Stability Maintained

Operating Leverage Scaling With Efficiency

Stock-Based Compensation Impacts Earnings Quality

Sustainability of Growth Remains Uncertain

CSCO — Frequently Asked Questions

Quick answers to the most common questions about buying CSCO stock.

What was Cisco Systems, Inc.'s (CSCO) revenue in 2025?

For fiscal year 2025, Cisco Systems, Inc. (CSCO) reported total revenue of $56.65B. This represents a 1283.2% increase compared to $4.10B in 1996.

Is Cisco Systems, Inc. (CSCO) profitable?

Cisco Systems, Inc. (CSCO) is profitable, generating $10.18B in net income for the fiscal year ending 2025 with a net profit margin of 18.0%.

What is Cisco Systems, Inc.'s operating profit margin?

What is Cisco Systems, Inc.'s gross profit and gross margin?

Cisco Systems, Inc. (CSCO) generated $36.79B in gross profit for the year, representing a gross profit margin of 64.9%. This demonstrates the company's core pricing power and production efficiency.

CSCO Income Statement

Key Metrics

Top Statement Risk

CSCO Income Statement

Key Metrics

Top Statement Risk