Cisco Systems, Inc. designs, develops, and sells technologies that help to power, secure, and draw insights from the internet in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company offers data center switching; network security, identity and access management, and secure access service edge; threat intelligence, detection, and response solutions; interconnects public and private wireline and mobile networks, delivering connectivity to campus, data center, and branch networks; WEBEX suite, collaboration devices, and contact center; communication platform as a service software, including perpetual licenses, subscription arrangements, and hardware solutions; network assurance, monitoring and analytics, and observability suite; issue resolution, software support, and hardware replacement; professional services, such as planning, design, implementation, and high-value consulting; service and support packages, financing, and managed network services; and regional, national, and international wireline carriers, webscale products, internet, and cable. It also delivers connectivity to campus, data center, and branch networks; wireless products, including indoor and outdoor wireless coverage designed for seamless roaming use of voice, video, and data applications; end-to-end collaboration solutions through cloud, on-premise, or within hybrid cloud environments, transition collaboration solutions from on-premise to the cloud; and network assurance, monitoring and analytics, and observability suite. In addition, it offers technical support and advisory services. The company serves businesses, public institutions, governments, and service providers. It sells its products and services directly, through systems integrators, service providers, resellers, and distributors. Cisco Systems, Inc. was incorporated in 1984 and is headquartered in San Jose, California.
Cisco Systems, Inc. (CSCO) reported trailing twelve months revenue of $60.75B as of April 2026, a 9.2% increase year-over-year. Quarterly revenue reached $15.84B, reflecting continued top-line momentum.
Cisco Systems, Inc. generated $11.96B in TTM net income, with quarterly EBITDA of $3.96B. The operating margin expanded from 22.6% to 25.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (25.0%) and net margin (21.3%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 17.6% a year ago, signaling stronger bottom-line efficiency.
CSCO trades at a P/E of 29.4x (in line with broad market averages) and a P/S of 5.8x. The price-to-book ratio of 7.2x indicates a significant premium over book value.
The company generated $3.34B in free cash flow over the trailing twelve months, a 11.9% decrease year-over-year, indicating cash generation ability. The balance sheet shows $125.55B in total assets with $19.37B in long-term debt against $48.86B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~21.8%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 22.0% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~12.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~23.3% — no sign of cost or pricing stress.
FCF covers net income by 1.2x on average — earnings are well-supported by cash generation.
D/E ratio is 0.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation