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CISCO SYSTEMS, INC. (CSCO) USD

Networking and security hardware, software, and services for enterprises and service providers.

At a glance: strengths & risks
✓Revenue growing (+12%)✓Profit growing (+30%)✓Margins improving (22%→25%)✓Low leverage (1.0x EBITDA)

Sector: Technology

US_CSCO

Price chart

104.89 USDDay -2.21%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
104.89 USD · -2.21%
Market cap
413.9 bn USD

Growth

Δ revenue y/y
17.6%
Δ EBITDA y/y
13.8%

Multiples

P/E (LTM)
31.2x
3y avg: 26.5x
P/B (FY)
8.2x
P/E (ann.)
26.8x
EV/EBITDA (LTM)
26.7x
3y avg: 23.3x
EV/EBITDA (ann.)
25.1x

Cash return

Dividend yield
1.6%
FCF yield (LTM)
3.1%

Value creation

fundamental value/yr, % of market cap
Value created / year
+11.0%
↓ details

Liquidity

Daily turnover (US listing)
1.9 bln USD

Shares: yahoo_fundamentals_timeseries/CSCO

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-07-25Q3 2026 (3M)OK17.3
y/y 17.6%
4.3
y/y 38.1%
0.0
y/y 113.5%
4.3
y/y 41.9%
3.9
y/y 51.3%
5.4-0.3129.6
y/y 6.0%
50.3
y/y 7.3%
26.8%15.3Link
2026-04-25Q2 2026 (3M)OK15.8
y/y 12.0%
4.0
y/y 23.7%
0.2
y/y -6.6%
4.2
y/y 21.5%
3.4
y/y 35.4%
3.8-0.4125.5
y/y 4.8%
48.9
y/y 6.4%
9.3%16.4Link
2026-01-24Q1 2026 (3M)OK15.3
y/y 9.7%
3.8
y/y 21.5%
0.2
y/y -12.8%
4.0
y/y 18.8%
3.2
y/y 30.8%
1.8-0.3123.4
y/y 1.6%
47.7
y/y 4.8%
26.9%16.0Link
2025-10-25Q4 2025 (3M)OK14.9
y/y 7.5%
3.4
y/y 42.6%
0.2
y/y -12.8%
3.6
y/y 37.0%
2.9
y/y 5.5%
3.2-0.3121.1
y/y -1.8%
46.9
y/y 3.5%
24.4%13.9Link
2025-07-26Q3 2025 (3M)OK14.7
y/y 7.6%
3.1
y/y 17.9%
-0.1
y/y -127.4%
3.0
y/y 4.3%
2.5
y/y 17.9%
4.2-0.2122.3
y/y -1.7%
46.8
y/y 3.0%
21.9%13.5Link
2025-04-26Q2 2025 (3M)OK14.1
y/y 11.4%
3.2
y/y 46.1%
0.2
y/y -17.8%
3.4
y/y 38.5%
2.5
y/y 32.1%
4.1-0.3119.8
y/y -2.6%
45.9
y/y 0.4%
7.3%15.1Link
2025-01-25Q1 2025 (3M)OK14.0
y/y 9.4%
3.1
y/y 0.5%
0.3
y/y 301.5%
3.4
y/y 6.8%
2.4
y/y -7.8%
2.2-0.2121.4
y/y 20.0%
45.5
y/y -1.6%
21.4%15.6Link
2024-10-26Q4 2024 (3M)OK13.8
y/y -5.6%
2.4
y/y -44.9%
0.3
y/y 295.5%
2.6
y/y -39.6%
2.7
y/y -25.5%
3.7-0.4123.3
y/y 24.9%
45.3
y/y 0.1%
23.9%14.6Link
2024-07-27Q3 2024 (3M)OK13.6
y/y -4.4%
2.6
y/y -31.9%
0.3
y/y —
2.9
y/y -34.5%
2.2
y/y -36.7%
3.7-1.2124.4
y/y 22.2%
45.5
y/y 2.5%
22.6%14.4Link
2024-04-27Q2 2024 (3M)OK12.7
y/y -12.8%
2.2
y/y -44.5%
0.3
y/y 324.3%
2.5
y/y -38.0%
1.9
y/y -41.3%
4.0-25.2123.0
y/y 26.1%
45.8
y/y 8.2%
5.5%14.4Link
2024-01-27Q1 2024 (3M)OK12.8
y/y -5.9%
3.1
y/y -6.0%
0.1
y/y -7.0%
3.2
y/y -6.0%
2.6
y/y -5.0%
0.8-0.2101.2
y/y 5.6%
46.3
y/y 11.5%
23.0%-13.0Link
2023-10-28Q4 2023 (3M)OK14.7
y/y —
4.3
y/y —
0.1
y/y —
4.3
y/y —
3.6
y/y —
2.4-0.198.8
y/y —
45.2
y/y —
32.5%-14.8Link
2023-07-29Q3 2023 (3M)OK14.3
y/y —
3.8
y/y —
—
y/y —
4.4
y/y —
3.4
y/y —
——101.9
y/y —
44.4
y/y —
29.1%-16.7Link
2023-04-29Q2 2023 (3M)OK14.6
y/y —
3.9
y/y —
0.1
y/y —
4.0
y/y —
3.2
y/y —
5.2-0.397.5
y/y —
42.3
y/y —
10.1%-13.8Link
2023-03-31Q1 2023 (3M)OK14.6
y/y —
3.9
y/y —
—
y/y —
3.9
y/y —
3.2
y/y —
——97.5
y/y —
42.3
y/y —
30.7%≈ -12.1SEC EDGAR
2023-01-28Q1 2023 (3M)OK13.6
y/y —
3.3
y/y —
0.1
y/y —
3.4
y/y —
2.8
y/y —
4.7-0.295.8
y/y —
41.5
y/y —
—-12.1Link

Net debt structure (leases included, IFRS 16) 2026-07-25

Short-term debt (incl. ST leases)10 565
Long-term debt (incl. LT leases)20 620
− Cash & equivalents7 218
Net debt23 967

Net debt / LTM EBITDA: 1.5x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

020 00040 00060 00080 0002023 q12024 FY2025 FY2026 FY

Year-over-year change

-10%0%10%20%30%2023 q12024 FY2025 FY2026 FY

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-10 000010 00020 0002023 q12024 FY2025 FY2026 FY

Net debt / cash ($ mln)

-20 000-10 000010 00020 0002023 q12023 q42024 FY2025 FY2026 FY

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 1.12x of reported net profit; after capex, 1.08x.
year20222023202420252026
cash flow / profit1.12x1.58x1.05x1.39x1.07x
accruals, % of assets-1.5%-7.1%-0.4%-3.3%-0.7%
Last twelve months (to 2026-07-25): 1.07x of profit came back as operating cash flow.
net debt / EBITDA 0.9x · EBIT covers interest 10.5x · capex 1.2x of depreciation · dividends 37% of free cash flow · share count -1.6% a year
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +11.0%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-07-25 vs 2025-07-26)
= (4 274 − 3 757) × 3.76
1 944
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (413 896 + 15 267) ÷ 16 068
26.7x
3. Target multiple
(Current EV/EBITDA + 12) ÷ 2
= (26.7 + 12) ÷ 2
19.4x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -1 734 + 4 894 + 4 605 − 354
7 765
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (1 944 × 19.4 + 7 765) ÷ 413 896
+11.0%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • equity issuance measured by share-count dilution at market, not the cash line

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +12% vs +5% the year before — a +6.5 pp move. 3-year CAGR +4%.
revenue growth by year: 2024 -6% · 2025 +5% · 2026 +12%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 28.0x · 3-year 75th pct 24.0x

EV/EBITDA3-year 75th pct

Peer comparison

Group: Technology. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
MICRON TECHNOLOGY INCUS1027.99.1x
ORACLE CORPUS390.515.4x
INTERNATIONAL BUSINESS MACHINES CORPUS238.619.5x
MICROSOFT CORPUS3972.120.9x
NVIDIA CORPUS5394.826.9x
TEXAS INSTRUMENTS INCUS259.928.4x
Apple Inc.US5081.929.8x
Broadcom Inc.US1639.330.0x
APPLIED MATERIALS INC /DEUS324.333.3x
KLA CORPUS213.636.0x
LAM RESEARCH CORPUS326.337.6x
Arista Networks, Inc.US235.150.2x
Group median29.1x
Group average28.1x
This companyUS423.226.7x

Group median 29.1x; this company 26.7x — a 8% discount.

Group average 28.1x; against the average this company is at a 5% discount.

At the adjusted group median the market cap would be +9% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.9x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.8x, Indonesia 5.1x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-22; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-10-020.42 USDEx-dividend: 0.42 USD per sharePaidYahoo Finance (ex-div)
2026-07-060.42 USDEx-dividend: 0.42 USD per sharePaidYahoo Finance (ex-div)
2026-04-020.42 USDEx-dividend: 0.42 USD per sharePaidYahoo Finance (ex-div)
2026-01-020.41 USDEx-dividend: 0.41 USD per sharePaidYahoo Finance (ex-div)
2025-10-030.41 USDEx-dividend: 0.41 USD per sharePaidYahoo Finance (ex-div)
2025-07-030.41 USDEx-dividend: 0.41 USD per sharePaidYahoo Finance (ex-div)
2025-04-030.41 USDEx-dividend: 0.41 USD per sharePaidYahoo Finance (ex-div)
2025-01-030.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-10-020.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-07-050.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-04-030.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-01-030.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2023-10-030.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2023-07-050.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2023-04-040.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2023-01-040.38 USDEx-dividend: 0.38 USD per sharePaidYahoo Finance (ex-div)
2022-10-040.38 USDEx-dividend: 0.38 USD per sharePaidYahoo Finance (ex-div)
2022-07-050.38 USDEx-dividend: 0.38 USD per sharePaidYahoo Finance (ex-div)
2022-04-050.38 USDEx-dividend: 0.38 USD per sharePaidYahoo Finance (ex-div)
2022-01-040.37 USDEx-dividend: 0.37 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of CISCO SYSTEMS, INC. (CSCO) — from primary filings.

Frequently asked questions

What is CISCO SYSTEMS, INC. (CSCO)'s P/E ratio?
CISCO SYSTEMS, INC. (CSCO) trades at a P/E of 31.2x (price to trailing 12-month earnings).
What is CISCO SYSTEMS, INC. (CSCO)'s EV/EBITDA?
CISCO SYSTEMS, INC. (CSCO) trades at 26.7x EV/EBITDA.
What is CISCO SYSTEMS, INC. (CSCO)'s P/B ratio?
CISCO SYSTEMS, INC. (CSCO) trades at a P/B of 8.2x.
What is CISCO SYSTEMS, INC. (CSCO)'s dividend yield?
CISCO SYSTEMS, INC. (CSCO)'s trailing 12-month dividend yield is 1.6%.
What is CISCO SYSTEMS, INC. (CSCO)'s return on equity (ROE)?
CISCO SYSTEMS, INC. (CSCO)'s ROE is 30.7%.
What is CISCO SYSTEMS, INC. (CSCO)'s market capitalization?
CISCO SYSTEMS, INC. (CSCO)'s market cap is 413.9 bn USD.

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