Cisco Systems (CSCO)

Market Price (7/23/2026): $112.61 | Market Cap: $445.0 BilInvestor Relations Sector: Information Technology | Industry: Communications Equipment

Cisco Systems (CSCO)

Market Price (7/23/2026): $112.61
Market Cap: $445.0 Bil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 13 Bil, FCF LTM is 12 Bil

Stock buyback support
Stock Buyback 3Y Total is 21 Bil

Low stock price volatility
Vol 12M is 33%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Cybersecurity, Cloud Computing, and 5G & Advanced Connectivity. Show more.

Key risks
CSCO key risks include [1] market share erosion from intense competition in its core networking and cybersecurity businesses, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 13 Bil, FCF LTM is 12 Bil
1	Stock buyback support Stock Buyback 3Y Total is 21 Bil
2	Low stock price volatility Vol 12M is 33%
3	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Cybersecurity, Cloud Computing, and 5G & Advanced Connectivity. Show more.
4	Key risks CSCO key risks include [1] market share erosion from intense competition in its core networking and cybersecurity businesses, Show more.

CSCO in ETFs

Weight = CSCO's share of each fund

SPY0.68%

VOO0.72%

IVV0.67%

VTI0.57%

ITOT0.59%

QQQ2.0%

QQQM1.9%

DIA1.2%

+43 more covered ETFs

Valuation & Metrics

FYE: 7/26	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	7/23/26	2025	2024	2023	2022
Share Price			$112.61	$77.03	$59.20	$50.52	$47.64
Mkt Cap ($ Bil)			445.0	304.7	236.2	205.0	195.7
+ Debt ($ Bil)			31.3	28.1	32.0	7.7	8.9
- Cash ($ Bil)			16.6	15.7	18.7	23.5	19.8
TEV ($ Bil)			459.7	332.8	268.2	212.7	204.6
Valuation Ratios
P/S	6.5	7.1	7.3	5.3	4.5	3.5	3.7
P/EBIT	24.8	27.1	28.6	22.2	20.8	12.3	13.3
P/E	23.1	25.9	37.2	29.5	25.1	15.1	17.0
P/FCF	—	—	37.8	23.9	20.7	11.7	14.8
Sector Ratios (* = sector average)
P/S *			3.4	3.3	3.4	3.0	2.5
P/EBIT *			4.2	2.7	0.3	-0.1	-0.1
P/E *			-0.0	-0.2	-0.1	-0.3	-0.2
P/FCF *			10.2	12.2	12.5	13.2	6.2

FYE: 7/26	Forward FYE		Now
	2027	2026	7/23/26
Share Price			$112.61
Mkt Cap ($ Bil)			445.0
+ Debt ($ Bil)			31.3
- Cash ($ Bil)			16.6
TEV ($ Bil)			459.7
Valuation Ratios
P/S	6.5	7.1	7.3
P/EBIT	24.8	27.1	28.6
P/E	23.1	25.9	37.2
P/FCF	—	—	37.8
Sector Ratios (* = sector average)
P/S *			3.4
P/EBIT *			4.2
P/E *			-0.0
P/FCF *			10.2

FYE: 7/26	CSCO [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$60.7 Bil	—
FY 2026 Sales	$62.9 Bil	—
FY 2027 Sales	$68.8 Bil	—
FY 2026 Sales Growth	3.5%	—
FY 2027 Sales Growth	9.3%	8.1%
EARNINGS
LTM Net Income (GAAP) [3]	$12.0 Bil	—
FY 2026 Net Income (Non-GAAP)	$17.2 Bil	—
FY 2027 Net Income (Non-GAAP)	$19.3 Bil	—
FY 2027 Net Income Growth	12.4%	16.1%
FY 2026 EPS (Non-GAAP)	$4.28	—
FY 2027 EPS (Non-GAAP)	$4.79	—
FY 2027 EPS Growth	11.9%	—
VALUATION
FY 2026 P/S	7.1	3.3
FY 2027 P/S	6.5	—
FY 2026 P/E	25.9	19.8
FY 2027 P/E	23.1	—

[1] CSCO forward figures are analyst consensus for the next two fiscal years (fiscal year end 7/26). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 7/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	CSCO	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	60.7
Rev Chg Q	12.0%	8.9%
Rev Chg LTM	9.2%	7.6%
Rev Chg 3Y Avg	3.5%	5.9%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	14.4
CFO LTM ($ Bil)	13.0
Net Inc LTM ($ Bil)	12.0
Op Mgn LTM	23.7%	18.4%
CFO/Rev LTM	21.4%	21.4%
Net Inc Mgn	19.7%	13.0%
VALUATION	HIGH
P/S	7.3	3.3
P/CFO	34.1	15.1
P/FCF	37.6	20.0
P/E	37.1	24.4
STABILITY	VERY GOOD
Debt/Equity	0.07	0.20
Cash/Assets	0.13	0.07

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Metric	Value	Date	Source
Remaining Performance Obligations (RPO)	$43.5 billion	8132025	Link
Annualized Recurring Revenue (ARR)	$31.1 billion	8132025	Link
Total Software Revenue	$22.3 billion	9032025	Link
Total Subscription Revenue	$7.9 billion	8132025	Link
Subscription Revenue as a Percentage of Total Revenue	54%	8132025	Link

Price Chart

Recent
7/06/2026	Dividend	Amount: $0.42 Payment On: 7/22/2026

Why The Stock Moved

Qualitative Assessment

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Updated on 7/15/2026

Cisco Systems (CSCO) stock has gained about 45% since 3/31/2026 because of the following key factors:

1. Exceptional Fiscal Q3 2026 Performance and Robust Guidance. Cisco Systems (whose fiscal Q3 2026 ended on April 25, 2026) reported record revenue of $15.8 billion, a 12% year-over-year increase, exceeding analyst consensus estimates of $15.56 billion. Non-GAAP earnings per share (EPS) of $1.06 also surpassed estimates of $1.03. Furthermore, the company provided an optimistic outlook for fiscal Q4 2026, projecting revenue between $16.7 billion and $16.9 billion, with the midpoint nearly $1 billion higher than consensus, and raised its full fiscal year 2026 revenue guidance to between $62.8 billion and $63.0 billion.

2. Surging Demand for AI Infrastructure Solutions. A major catalyst was the significant increase in orders for Cisco's AI infrastructure solutions, particularly from hyperscale cloud providers. The company raised its fiscal year 2026 AI infrastructure order target by 80%, from an initial $5 billion to approximately $9 billion. This was supported by securing five new hyperscaler AI design wins in fiscal Q3 2026, with enterprise data center switching orders growing over 40% and the Acacia optics business (critical for AI optical interconnects) generating over $1 billion in orders and expected to grow over 200% in fiscal 2026.

3. Strategic Shift and Acquisitions Focused on AI and Security. Cisco demonstrated a clear strategic pivot towards the burgeoning AI and security markets through a significant restructuring initiative, including a plan to lay off nearly 4,000 employees to reallocate resources towards AI, security, silicon, and optics. Concurrently, the company made several key acquisitions to enhance its AI and security capabilities, such as Astrix Security (May 2026) for identity protection and AI agent security, WideField Security (June 2026) to bolster Splunk's security operations center, and Galileo Technologies (April 2026) for AI observability.

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Stock Movement Drivers

Fundamental Drivers

The 45.9% change in CSCO stock from 3/31/2026 to 7/22/2026 was primarily driven by a 35.1% change in the company's P/E Multiple.

(LTM values as of)	3312026	7222026	Change
Stock Price ($)	76.88	112.21	45.9%
Change Contribution By:
Total Revenues ($ Mil)	59,054	60,746	2.9%
Net Income Margin (%)	18.8%	19.7%	5.0%
P/E Multiple	27.5	37.1	35.1%
Shares Outstanding (Mil)	3,955	3,952	0.1%
Cumulative Contribution			45.9%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/22/2026

	Return	Correlation
CSCO	45.9%
Market (SPY)	14.9%	38.8%
Sector (XLK)	35.6%	46.5%

Fundamental Drivers

The 47.8% change in CSCO stock from 12/31/2025 to 7/22/2026 was primarily driven by a 27.5% change in the company's P/E Multiple.

(LTM values as of)	12312025	7222026	Change
Stock Price ($)	75.92	112.21	47.8%
Change Contribution By:
Total Revenues ($ Mil)	57,696	60,746	5.3%
Net Income Margin (%)	17.9%	19.7%	10.0%
P/E Multiple	29.1	37.1	27.5%
Shares Outstanding (Mil)	3,956	3,952	0.1%
Cumulative Contribution			47.8%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/22/2026

	Return	Correlation
CSCO	47.8%
Market (SPY)	9.9%	41.4%
Sector (XLK)	25.4%	47.0%

Fundamental Drivers

The 66.1% change in CSCO stock from 6/30/2025 to 7/22/2026 was primarily driven by a 35.3% change in the company's P/E Multiple.

(LTM values as of)	6302025	7222026	Change
Stock Price ($)	67.57	112.21	66.1%
Change Contribution By:
Total Revenues ($ Mil)	55,623	60,746	9.2%
Net Income Margin (%)	17.6%	19.7%	11.8%
P/E Multiple	27.4	37.1	35.3%
Shares Outstanding (Mil)	3,972	3,952	0.5%
Cumulative Contribution			66.1%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/22/2026

	Return	Correlation
CSCO	66.1%
Market (SPY)	22.0%	40.8%
Sector (XLK)	43.0%	46.7%

Fundamental Drivers

The 136.5% change in CSCO stock from 6/30/2023 to 7/22/2026 was primarily driven by a 119.3% change in the company's P/E Multiple.

(LTM values as of)	6302023	7222026	Change
Stock Price ($)	47.44	112.21	136.5%
Change Contribution By:
Total Revenues ($ Mil)	54,897	60,746	10.7%
Net Income Margin (%)	20.9%	19.7%	-5.8%
P/E Multiple	16.9	37.1	119.3%
Shares Outstanding (Mil)	4,089	3,952	3.5%
Cumulative Contribution			136.5%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/22/2026

	Return	Correlation
CSCO	136.5%
Market (SPY)	74.6%	50.8%
Sector (XLK)	111.3%	50.1%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
CSCO Return	46%	-22%	9%	21%	33%	48%	195%
Peers Return	77%	-19%	66%	51%	6%	108%	694%
S&P 500 Return	27%	-19%	24%	23%	16%	10%	100%
Monthly Win Rates [3]
CSCO Win Rate	75%	33%	58%	67%	67%	57%
Peers Win Rate	73%	42%	65%	65%	60%	71%
S&P 500 Win Rate	75%	42%	67%	75%	67%	57%
Max Drawdowns [4]
CSCO Max Drawdown	-10%	-36%	-17%	-13%	-17%	-15%
Peers Max Drawdown	-17%	-36%	-23%	-30%	-41%	-22%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: HPE, ANET, DELL, PANW, FTNT. See CSCO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/22/2026 (YTD)

Event	CSCO	S&P 500
2025 US Tariff Shock
% Loss	-17.4%	-18.8%
% Gain to Breakeven	21.1%	23.1%
Time to Breakeven	58 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-10.4%	-9.5%
% Gain to Breakeven	11.6%	10.5%
Time to Breakeven	289 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-35.9%	-24.5%
% Gain to Breakeven	55.9%	32.4%
Time to Breakeven	756 days	427 days
2020 COVID-19 Crash
% Loss	-28.3%	-33.7%
% Gain to Breakeven	39.4%	50.9%
Time to Breakeven	76 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-17.5%	-19.2%
% Gain to Breakeven	21.2%	23.8%
Time to Breakeven	53 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-20.7%	-12.2%
% Gain to Breakeven	26.0%	13.9%
Time to Breakeven	49 days	62 days

Compare to HPE, ANET, DELL, PANW, FTNT

In The Past

Cisco Systems's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.1% gain to breakeven.

Preserve Wealth

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Asset Allocation

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Event	CSCO	S&P 500
2022 Inflation Shock & Fed Tightening
% Loss	-35.9%	-24.5%
% Gain to Breakeven	55.9%	32.4%
Time to Breakeven	756 days	427 days
2020 COVID-19 Crash
% Loss	-28.3%	-33.7%
% Gain to Breakeven	39.4%	50.9%
Time to Breakeven	76 days	140 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-20.7%	-12.2%
% Gain to Breakeven	26.0%	13.9%
Time to Breakeven	49 days	62 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-23.4%	-15.4%
% Gain to Breakeven	30.5%	18.2%
Time to Breakeven	1127 days	125 days
2008-2009 Global Financial Crisis
% Loss	-52.0%	-53.4%
% Gain to Breakeven	108.4%	114.4%
Time to Breakeven	2076 days	1085 days

Compare to HPE, ANET, DELL, PANW, FTNT

In The Past

Cisco Systems's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Cisco Systems (CSCO)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Cisco Systems, Inc. is a global technology company that designs, manufactures, and sells Internet Protocol (IP) based networking and other related products essential for modern communications and information technology. At its core, Cisco provides the foundational infrastructure that enables the internet and various networks to function, allowing data to be transported, stored, and secured across different environments worldwide.

The company's product portfolio is diverse, spanning several critical areas. Its "Infrastructure Platforms" include core networking technologies like switches, routers, wireless solutions, and data center products, all designed to deliver comprehensive networking capabilities. Beyond networking hardware, Cisco offers "Collaboration Products" such as unified communications, video conferencing (TelePresence), and Internet of Things (IoT) software. Furthermore, it provides extensive "Security Products" covering network, cloud, email, and advanced threat protection, along with identity and access management. Cisco also supports its customers with a range of technical support and advanced services.

Cisco serves a broad and diverse customer base globally, including businesses of all sizes, public institutions, governments, and telecommunications service providers. It reaches these customers through a combination of direct sales and an extensive network of channel partners, including systems integrators, resellers, and distributors. Headquartered in San Jose, California, Cisco's operations and sales span the Americas, Europe, the Middle East, Africa, Asia Pacific, Japan, and China.

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The IBM for business networking and digital infrastructure.
The General Electric for the foundational technology of the internet and enterprise networks.

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Networking Hardware: Cisco provides a full range of networking hardware, including switches, routers, wireless access points, and data center infrastructure, essential for building and maintaining digital networks.
Collaboration Solutions: These products facilitate communication and teamwork, encompassing unified communications, TelePresence for high-definition video conferencing, and general conferencing platforms.
Security Solutions: Cisco offers comprehensive security products to protect networks, cloud environments, email, and user identities from a wide array of cyber threats.
Internet of Things (IoT) & Analytics Software: This category includes software for connecting and managing IoT devices, alongside advanced tools for data analysis and insights.
Technical Support & Advanced Services: Cisco provides various service and support options, from essential technical assistance to specialized advanced services, ensuring customer success and operational efficiency.

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Major Suppliers:

Foxconn (Hon Hai Precision Industry Co., Ltd.) (TPE: 2317)
Jabil Inc. (NYSE: JBL)
Flex Ltd. (NASDAQ: FLEX)
Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM)

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Chuck Robbins, Chair and Chief Executive Officer

Chuck Robbins joined Cisco in 1997 and has served as CEO since July 2015, also becoming Chairman of the Board in December 2017. He has been instrumental in leading Cisco's strategic shift towards software, services, and innovative technologies. Prior to his CEO role, Robbins held various leadership positions within the company, including Senior Vice President of Worldwide Field Operations, where he oversaw global sales and partner organizations, and Senior Vice President of the Americas. Before joining Cisco, he worked as an application developer for North Carolina National Bank and held positions at Wellfleet Communications and Ascend Communications.

Mark Patterson, Executive Vice President and Chief Financial Officer

Mark Patterson became Cisco's Executive Vice President and Chief Financial Officer effective July 27, 2025, succeeding Scott Herren. He joined Cisco in September 2000 and has held various leadership roles within the company, including Executive Vice President and Chief Strategy Officer since March 2024. Patterson also served as Senior Vice President, Chief of Staff to the Chair & CEO, and Senior Vice President, Strategy, Planning, and Operations for Worldwide Sales and Marketing. Before his tenure at Cisco, he led finance and operations for IPMobile, a company that was later acquired by Cisco in 2000.

Jeetu Patel, President and Chief Product Officer

Jeetu Patel leads Cisco's global product vision and strategy. He joined Cisco in 2020 and initially led the collaboration and security business. Patel is recognized for his dedication to product design, user experience, and for driving innovation across Cisco's extensive product portfolio, establishing the company's role as critical infrastructure for the AI era.

Dev Stahlkopf, Executive Vice President and Chief Legal Officer

Dev Stahlkopf serves as Cisco's Executive Vice President and Chief Legal Officer.

Thimaya Subaiya, Executive Vice President, Operations

Thimaya Subaiya is Cisco's Executive Vice President of Operations, overseeing key functions such as Security & Trust, Supply Chain, IT, internal Cisco AI governance, and core operations. He is known for his strong background in implementing growth strategies within the services and software businesses, balancing innovation, simplicity, and optimization.

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The key risks to Cisco Systems (CSCO) include intensifying competition in the AI networking sector, ongoing margin pressures from rising costs and product mix, and challenges in effectively integrating strategic acquisitions.

Intensifying Competition in AI Networking: Cisco faces significant competitive pressures, particularly in the rapidly evolving AI networking sector. Rivals such as Arista Networks and Nvidia are actively gaining market share in data center AI networking, leading to a decline in Cisco's core network revenue. This fierce competition poses a substantial threat to Cisco's market position and long-term revenue growth.
Margin Pressures from Rising Costs and Product Mix: The company is experiencing declining gross margins, primarily due to increases in memory chip prices and a product mix that is more hardware-heavy. These rising costs directly impact Cisco's profitability and have led to weaker-than-expected profitability forecasts, causing investor concern and stock volatility.
Challenges in Integrating Acquisitions: Cisco's aggressive acquisition strategy, including the recent $28 billion acquisition of Splunk, presents integration challenges. These challenges can include potential cultural clashes, talent drain, and a slower-than-anticipated return on investment. Furthermore, a rapid succession of acquisitions may stretch the company into areas where it lacks a solid competitive advantage, leading to operational complexities.

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The clear emerging threats for Cisco Systems include:

The accelerating industry shift towards **Secure Access Service Edge (SASE)** architectures, which converge network and security functions into a single, cloud-delivered platform. This fundamentally challenges Cisco's traditional model of selling distinct on-premises networking and security hardware and software appliances, as pure-play SASE providers and other integrated security vendors gain market share.
The increasing maturity and comprehensive nature of **hyperscale public cloud providers (e.g., Amazon Web Services, Microsoft Azure, Google Cloud)**. As more enterprises migrate their core infrastructure and applications to these cloud environments, the native networking, security, and collaboration services offered by the cloud providers reduce the need for traditional enterprise-purchased hardware and software from vendors like Cisco.

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Cisco Systems, Inc. (CSCO) operates within several large and expanding addressable markets for its diverse range of products and services.

Overall Addressable Market

Cisco aims for a total addressable market (TAM) of approximately $900 billion by 2025, encompassing its existing, expansion, and adjacent markets globally. As of September 2021, the company addressed a market worth nearly $260 billion, with a goal to increase this to around $400 billion by 2025 in existing and expansion markets.

Infrastructure Platforms

Managed Network Services: The global managed network services market was valued at USD 75.69 billion in 2024 and is projected to reach USD 150.28 billion by 2032. North America is a dominant region, expected to hold the largest market share (approximately 35.22%) in this sector. Another estimate places the global market at USD 235.94 billion in 2024, growing to USD 541.32 billion by 2035. Cisco itself forecasts its total addressable market for managed services to be $113 billion by 2025.
Routers and Switches: Cisco's market for routers and switches is estimated to reach USD 32.1 billion globally in 2026 and is projected to surpass USD 49.7 billion by 2032.

Collaboration Products

Unified Communications (UC): The global unified communications market size was estimated at USD 136.11 billion in 2023 and is projected to reach USD 417.86 billion by 2030. North America accounted for 26.0% of the global unified communications market in 2023.
Video Conferencing: The global video conferencing market size was estimated at USD 11.65 billion in 2024 and is projected to reach USD 24.46 billion by 2033. North America held the largest revenue share of over 38% in this market in 2024.
Internet of Things (IoT) Solutions: The global Internet of Things (IoT) market size was valued at USD 1.18 trillion in 2023 and is projected to reach USD 2.65 trillion by 2030. North America held the largest market revenue share, accounting for 36.1% in 2023. More specifically, the global IoT Software market was valued at USD 1.2 billion in 2024 and is expected to reach nearly USD 3.28 billion by 2032.

Security Products

Network Security: The global network security market size was valued at USD 27.11 billion in 2024 and is projected to reach USD 79.29 billion by 2033. North America held 35.9% of the global network security market's revenue share in 2024.
Cloud Security: The global cloud security market size was estimated at USD 40.81 billion in 2025 and is predicted to increase to approximately USD 133.39 billion by 2035. North America dominated the market with the largest revenue share of 35% in 2025.
Identity and Access Management (IAM): The global identity and access management market size was valued at USD 18.86 billion in 2024 and is projected to reach USD 61.93 billion by 2033. North America is identified as the dominant region in this market.
Advanced Threat Protection (ATP): The global advanced threat protection market size was estimated at USD 6.79 billion in 2023 and is projected to reach USD 24.51 billion by 2030. North America was the largest revenue-generating market in 2023.

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Cisco Systems (CSCO) is anticipated to drive future revenue growth over the next 2-3 years through several key areas:

AI Infrastructure Demand: Cisco is experiencing significant demand for network equipment as companies globally expand their data centers and accelerate Artificial Intelligence (AI) projects. The company has secured substantial AI-related orders, with expectations to recognize approximately $3 billion in revenue from AI infrastructure in fiscal year 2026, primarily from hyperscalers. This growth is further fueled by the need for high-speed network technology among government clouds, commercial cloud providers, and large enterprises as AI workloads generate substantially more network traffic.
Growth in Security Business and Splunk Integration: The acquisition of Splunk is a pivotal driver for Cisco's security revenues. The integration of Splunk is expected to significantly strengthen Cisco's Threat Intelligence, Detection, and Response (TIDR) offerings. While there have been short-term impacts from the shift to cloud subscriptions for Splunk, which affects revenue recognition, the long-term outlook for the combined security portfolio, including new AI-powered solutions like Hypershield, is positive.
Campus Networking Refresh Cycle: Cisco is poised to benefit from a multi-year, multi-billion-dollar campus network refresh opportunity. Enterprise customers are increasingly investing in modernizing their campus networks, upgrading switching, routing, and wireless products to support AI deployments and replace older infrastructure. This cycle is expected to drive demand for Cisco's Catalyst 9000 series switches and other refreshed networking products.
Increasing Adoption of Software and Subscription-based Offerings: Cisco continues its strategic shift towards a higher mix of software and subscription revenues, which provides a more predictable and recurring revenue stream. This focus on Annual Recurring Revenue (ARR) and software growth enhances the stability and long-term visibility of Cisco's financial performance, supporting growth across its product categories.

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Share Repurchases

In February 2025, Cisco's board approved a $15 billion increase to its stock repurchase program, bringing the total authorized amount for future repurchases to approximately $17 billion.
Cisco returned $12.4 billion to stockholders in fiscal year 2025 through dividends and share repurchases, with $6 billion specifically allocated for share repurchases.
In the fourth quarter of fiscal year 2025, the company repurchased approximately 19 million shares for an aggregate purchase price of $1.3 billion.

Share Issuance

In December 2025, Cisco's shareholders approved an amendment to the 2005 Stock Incentive Plan, increasing the number of shares authorized for issuance by 57,490,000.
As of July 26, 2025, prior to the approved increase, 100,026,176 shares were available for future grants under the stock incentive plan.

Outbound Investments

In September 2023, Cisco announced its most significant acquisition, Splunk, for approximately $28 billion.
The company completed the acquisition of Acacia Communications for $4.5 billion in March 2021, focusing on optical component technology for high-speed data transmission.
Cisco has made strategic acquisitions in AI and security, including EzDubs and NeuralFabric in November 2025, and SnapAttack in February 2025. It also launched a $1 billion Global AI fund in 2024.

Capital Expenditures

Cisco's capital expenditures were $905 million in fiscal year 2025, $670 million in fiscal year 2024, and $849 million in fiscal year 2023.
The company expects to surpass $1 billion in AI infrastructure orders in fiscal year 2025, indicating a significant focus on AI-driven network infrastructure and data capacity investments.
Cisco's CEO indicated plans to boost capital expenditures in the upcoming six months (as of March 2026), with a continued focus on AI infrastructure.

Interactive Breakdown

Cisco Systems Interactive Breakdown Analysis

Better Bets vs. Cisco Systems (CSCO)

INDUSTRY: Communications Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for CSCO: 3.5% | 7.3x)

MSI (8.1% | 5.6x)

Motorola Solutions

FFIV (5.2% | 7.0x)

VSAT (24.4% | 2.2x)

Viasat

VIAV (6.6% | 7.2x)

Viavi Solutions

DGII (3.7% | 5.2x)

Digi International

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CSCO: 3.5% | 30.8x)

MSI (8.1% | 22.8x)

Motorola Solutions

UI (18.6% | 29.4x)

Ubiquiti

FFIV (5.2% | 28.1x)

IDCC (14.8% | 16.2x)

InterDigital

BKTI (12.0% | 17.6x)

BK Technologies

Higher Rev Chg LTM (Value for CSCO: 9.2%)

LITE (69.0%)

Lumentum

UI (33.3%)

Ubiquiti

CIEN (30.6%)

Ciena

ANET (30.6%)

Arista Networks

FFIV (9.7%)

Higher Rev Chg 3Y Avg (Value for CSCO: 3.5%)

ANET (26.0%)

Arista Networks

UI (18.6%)

Ubiquiti

LITE (16.9%)

Lumentum

CIEN (12.1%)

Ciena

MSI (8.1%)

Motorola Solutions

Higher Op Mgn LTM (Value for CSCO: 23.7%)

IDCC (49.6%)

InterDigital

ANET (42.8%)

Arista Networks

UI (35.8%)

Ubiquiti

FFIV (25.1%)

MSI (24.8%)

Motorola Solutions

Higher CFO/Rev LTM (Value for CSCO: 21.4%)

ANET (55.9%)

Arista Networks

VSAT (33.9%)

Viasat

FFIV (31.5%)

UI (24.6%)

Ubiquiti

MSI (23.4%)

Motorola Solutions

Higher FCF/Rev LTM (Value for CSCO: 19.4%)

IDCC (62.9%)

InterDigital

ANET (54.4%)

Arista Networks

FFIV (29.9%)

UI (23.9%)

Ubiquiti

MSI (21.0%)

Motorola Solutions

Higher Total Yield (Value for CSCO: 4.2%)

VISN (257.6%)

Vistance Networks

ONDS (6.9%)

Ondas

IDCC (6.5%)

InterDigital

BKTI (4.9%)

BK Technologies

MSI (4.2%)

Motorola Solutions

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for CSCO: 3.5% | 7.3x)

ORCL (10.6% | 5.4x)

Oracle

DELL (12.9% | 2.1x)

Dell Technologies

IBM (4.5% | 2.8x)

International Business Machines

CRM (10.0% | 3.3x)

Salesforce

NOW (22.4% | 7.1x)

ServiceNow

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CSCO: 3.5% | 30.8x)

MSFT (15.3% | 19.5x)

Microsoft

ORCL (10.6% | 16.1x)

Oracle

DELL (12.9% | 26.4x)

Dell Technologies

APH (28.9% | 28.2x)

Amphenol

IBM (4.5% | 14.9x)

International Business Machines

Higher Rev Chg LTM (Value for CSCO: 9.2%)

MU (85.5%)

Micron Technology

NVDA (70.7%)

NVIDIA

AVGO (32.3%)

Broadcom

MSFT (17.9%)

Microsoft

AAPL (12.8%)

Apple

Higher Rev Chg 3Y Avg (Value for CSCO: 3.5%)

NVDA (121.7%)

NVIDIA

MU (45.3%)

Micron Technology

AVGO (29.3%)

Broadcom

MSFT (15.3%)

Microsoft

AAPL (5.6%)

Apple

Higher Op Mgn LTM (Value for CSCO: 23.7%)

NVDA (64.0%)

NVIDIA

MU (48.4%)

Micron Technology

MSFT (46.8%)

Microsoft

AVGO (44.1%)

Broadcom

AAPL (32.6%)

Apple

Higher CFO/Rev LTM (Value for CSCO: 21.4%)

MSFT (53.5%)

Microsoft

MU (52.7%)

Micron Technology

NVDA (49.6%)

NVIDIA

AVGO (44.6%)

Broadcom

AAPL (31.1%)

Apple

Higher FCF/Rev LTM (Value for CSCO: 19.4%)

NVDA (47.0%)

NVIDIA

AVGO (43.4%)

Broadcom

AAPL (28.6%)

Apple

MSFT (22.9%)

Microsoft

AMD (22.9%)

Advanced Micro Devices

Higher Total Yield (Value for CSCO: 4.2%)

IBM (8.8%)

International Business Machines

QCOM (7.3%)

Qualcomm

CRM (6.8%)

Salesforce

ORCL (6.3%)

Oracle

MSFT (5.2%)

Microsoft

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CSCO: 3.5% | 7.3x)

AMZN (12.3% | 3.5x)

Amazon.com

BRK-B (15.3% | 2.5x)

Berkshire Hathaway

JPM (11.4% | 5.1x)

JPMorgan Chase

WMT (5.3% | 1.2x)

Walmart

JNJ (4.4% | 6.4x)

Johnson & Johnson

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CSCO: 3.5% | 30.8x)

GOOGL (14.1% | 30.0x)

Alphabet

META (22.4% | 17.9x)

Meta Platforms

LLY (37.9% | 30.4x)

Eli Lilly

WMT (5.3% | 28.9x)

Walmart

V (11.6% | 22.1x)

Visa

Higher Rev Chg LTM (Value for CSCO: 9.2%)

LLY (47.4%)

Eli Lilly

META (26.2%)

Meta Platforms

GOOGL (17.5%)

Alphabet

V (14.4%)

Visa

AMZN (14.2%)

Amazon.com

Higher Rev Chg 3Y Avg (Value for CSCO: 3.5%)

META (22.4%)

Meta Platforms

BRK-B (15.3%)

Berkshire Hathaway

GOOGL (14.1%)

Alphabet

AMZN (12.3%)

Amazon.com

TSLA (4.5%)

Tesla

Higher Op Mgn LTM (Value for CSCO: 23.7%)

V (67.1%)

Visa

LLY (47.3%)

Eli Lilly

META (41.2%)

Meta Platforms

GOOGL (32.7%)

Alphabet

JNJ (26.8%)

Johnson & Johnson

Higher CFO/Rev LTM (Value for CSCO: 21.4%)

META (57.7%)

Meta Platforms

V (52.9%)

Visa

GOOGL (41.3%)

Alphabet

LLY (28.3%)

Eli Lilly

JNJ (23.7%)

Johnson & Johnson

Higher FCF/Rev LTM (Value for CSCO: 19.4%)

MA (50.3%)

Mastercard

V (49.2%)

Visa

BAC (48.8%)

Bank of America

ABBV (31.8%)

AbbVie

META (22.4%)

Meta Platforms

Higher Total Yield (Value for CSCO: 4.2%)

JPM (8.0%)

JPMorgan Chase

BRK-B (6.9%)

Berkshire Hathaway

XOM (6.6%)

ExxonMobil

META (4.8%)

Meta Platforms

V (4.2%)

Visa

Best Bets in Information Technology

What You Pay

P/EBIT (Value for CSCO: 28.5x)

APP (29.0x)

AppLovin

VRSN (20.6x)

VeriSign

NVDA (27.1x)

NVIDIA

QLYS (21.6x)

Qualys

ADEA (15.5x)

Adeia

IDCC (14.6x)

InterDigital

YOU (24.7x)

Clear Secure

GEN (7.4x)

Gen Digital

ADBE (9.4x)

Adobe

FICO (25.2x)

Fair Isaac

P/E (Value for CSCO: 37.1x)

APP (35.1x)

AppLovin

VRSN (28.6x)

VeriSign

NVDA (32.3x)

NVIDIA

QLYS (24.8x)

Qualys

ADEA (24.5x)

Adeia

IDCC (18.2x)

InterDigital

YOU (42.5x)

Clear Secure

GEN (15.9x)

Gen Digital

ADBE (12.1x)

Adobe

FICO (38.0x)

Fair Isaac

What You Get

Rev Chg 3Y Avg (Value for CSCO: 3.5%)

APP (37.0%)

AppLovin

VRSN (5.3%)

VeriSign

NVDA (121.7%)

NVIDIA

QLYS (10.6%)

Qualys

ADEA (4.4%)

Adeia

IDCC (14.8%)

InterDigital

YOU (25.6%)

Clear Secure

GEN (15.1%)

Gen Digital

ADBE (11.0%)

Adobe

FICO (16.7%)

Fair Isaac

Rev Chg LTM (Value for CSCO: 9.2%)

APP (66.4%)

AppLovin

VRSN (6.8%)

VeriSign

NVDA (70.7%)

NVIDIA

QLYS (10.2%)

Qualys

ADEA (21.1%)

Adeia

IDCC (1.6%)

InterDigital

YOU (17.4%)

Clear Secure

GEN (27.1%)

Gen Digital

ADBE (11.5%)

Adobe

FICO (22.6%)

Fair Isaac

Rev Chg Q (Value for CSCO: 12.0%)

APP (59.0%)

AppLovin

VRSN (6.6%)

VeriSign

NVDA (85.2%)

NVIDIA

QLYS (9.8%)

Qualys

ADEA (19.5%)

Adeia

IDCC (-2.4%)

InterDigital

YOU (19.7%)

Clear Secure

GEN (27.0%)

Gen Digital

ADBE (12.7%)

Adobe

FICO (38.7%)

Fair Isaac

FCF/Rev 3Y Avg (Value for CSCO: 21.6%)

APP (64.1%)

AppLovin

VRSN (57.7%)

VeriSign

NVDA (48.3%)

NVIDIA

QLYS (42.9%)

Qualys

ADEA (40.3%)

Adeia

IDCC (39.5%)

InterDigital

YOU (39.2%)

Clear Secure

GEN (38.3%)

Gen Digital

ADBE (37.9%)

Adobe

FICO (34.8%)

Fair Isaac

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	How To Bank 11% On CSCO Stock Before Buying A Single Share	07/21/2026
2	Pay Less, Grow More: BKTI, UI Beat Cisco Systems Stock	06/19/2026
3	What Cisco Stock Was Really Saying About AI	06/12/2026
4	Cisco Systems vs Ubiquiti: Which Stock Could Rally?	06/12/2026
5	The Smart Way to Own CSCO: Collect 8.9% Before You Even Buy	06/02/2026
6	Cisco Systems Stock Up 34% in One Month, Now Is Not The Time To Buy The Stock	05/30/2026
7	CSCO Stock: The Setup Hiding In Plain Sight	05/30/2026
8	Cisco Systems Stock Rockets 30% With 8-Day Winning Streak	05/19/2026
9	Markets Don't Lie: The Hidden Risk Priced Into CSCO Right Now	05/16/2026
10	Cisco Systems Stock Rockets 29% With 7-Day Winning Streak	05/16/2026
11	ARTICLES
12	What Cisco Stock Was Telling You About Its AI Orders	07/21/2026
13	What You Actually Pay To Join The CSCO Run	07/18/2026
14	Cisco Stock’s Independent Streak Is Its Edge	07/15/2026
15	Cisco Stock: Market Risk, Not Portfolio Diversification	07/14/2026
16	The Overlooked Growth Engine Powering Cisco Systems Stock	07/13/2026

	Title
0	DASHBOARDS
1	How To Bank 11% On CSCO Stock Before Buying A Single Share
2	Pay Less, Grow More: BKTI, UI Beat Cisco Systems Stock
3	What Cisco Stock Was Really Saying About AI
4	Cisco Systems vs Ubiquiti: Which Stock Could Rally?
5	The Smart Way to Own CSCO: Collect 8.9% Before You Even Buy
6	Cisco Systems Stock Up 34% in One Month, Now Is Not The Time To Buy The Stock
7	CSCO Stock: The Setup Hiding In Plain Sight
8	Cisco Systems Stock Rockets 30% With 8-Day Winning Streak
9	Markets Don't Lie: The Hidden Risk Priced Into CSCO Right Now
10	Cisco Systems Stock Rockets 29% With 7-Day Winning Streak
11	ARTICLES
12	What Cisco Stock Was Telling You About Its AI Orders
13	What You Actually Pay To Join The CSCO Run
14	Cisco Stock’s Independent Streak Is Its Edge
15	Cisco Stock: Market Risk, Not Portfolio Diversification
16	The Overlooked Growth Engine Powering Cisco Systems Stock

Trade Ideas

Select ideas related to CSCO.

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Recent Active Movers

Top Gainers

Ticker	Company	Category	1D Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	3.5%	-10.6%
EWZ	iShares MSCI Brazil ETF	Equity	2.8%	15.3%
XLU	State Street Utilities Select Sector ...	Equity	2.2%	8.3%
USO	United States Oil Fund LP	Commodity	2.2%	90.4%
ILF	iShares Latin America 40 ETF	Equity	2.1%	16.3%
UNG	United States Natural Gas Fund LP	Commodity	1.9%	-13.5%
IYM	iShares U.S. Basic Materials ETF	Equity	1.8%	16.3%
FXN	First Trust Energy AlphaDEX Fund	Equity	1.8%	34.5%
URA	Global X Uranium ETF	Equity	1.8%	-4.1%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	1.6%	40.4%

Top Losers

Ticker	Company	Category	1D Rtn	YTD Rtn
IGV	iShares Expanded Tech-Software Sector...	Equity	-3.0%	-15.8%
ARKW	ARK Next Generation Internet ETF	Equity	-2.3%	-3.1%
KWEB	KraneShares CSI China Internet ETF	Equity	-2.1%	-22.3%
ARKK	ARK Innovation ETF	Equity	-2.1%	-1.2%
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	-2.1%	-5.5%
AKRE	Akre Focus ETF	Equity	-2.0%	-18.0%
NASA	Tema Space Innovators ETF	Equity	-1.8%	-7.6%
XBI	State Street SPDR S&P Biotech ETF	Equity	-1.5%	24.8%
IHF	iShares U.S. Healthcare Providers ETF	Equity	-1.5%	18.2%
QQEW	First Trust Nasdaq-100 Select Equal W...	Equity	-1.5%	7.8%

Top Gainers

Ticker	Company	Category	1W Rtn	YTD Rtn
USO	United States Oil Fund LP	Commodity	8.5%	90.4%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	7.1%	40.4%
FXN	First Trust Energy AlphaDEX Fund	Equity	5.0%	34.5%
XLE	State Street Energy Select Sector SPD...	Equity	4.8%	33.3%
PDBC	Invesco Optimum Yield Diversified Com...	Commodity	3.7%	34.4%
DBC	Invesco DB Commodity Index Tracking Fund	Commodity	3.7%	33.5%
SLV	iShares Silver Trust	Commodity	3.3%	-16.3%
RING	iShares MSCI Global Gold Miners ETF	Equity	3.1%	-10.6%
BCI	abrdn Bloomberg All Commodity Strateg...	Commodity	2.9%	25.3%
HGER	Harbor Commodity All-Weather Strategy...	Commodity	2.7%	31.4%

Top Losers

Ticker	Company	Category	1W Rtn	YTD Rtn
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	-6.2%	-5.5%
NASA	Tema Space Innovators ETF	Equity	-5.9%	-7.6%
IGV	iShares Expanded Tech-Software Sector...	Equity	-5.2%	-15.8%
ARKK	ARK Innovation ETF	Equity	-4.5%	-1.2%
MAGS	Roundhill Magnificent Seven ETF	Equity	-3.9%	0.5%
XLC	State Street Communication Services S...	Equity	-3.7%	-6.9%
ARKW	ARK Next Generation Internet ETF	Equity	-3.3%	-3.1%
IAI	iShares U.S. Broker-Dealers & Securit...	Equity	-3.3%	6.3%
BOTZ	Global X Funds Global X Robotics & Ar...	Equity	-3.2%	-3.7%
MISL	First Trust Indxx Aerospace & Defense...	Equity	-3.0%	-0.7%

Top Gainers

Ticker	Company	Category	1M Rtn	YTD Rtn
USO	United States Oil Fund LP	Commodity	16.9%	90.4%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	14.0%	40.4%
ETHA	iShares Ethereum Trust ETF	Cryptocurrency	11.2%	-35.3%
HGER	Harbor Commodity All-Weather Strategy...	Commodity	10.3%	31.4%
XLE	State Street Energy Select Sector SPD...	Equity	9.5%	33.3%
DBC	Invesco DB Commodity Index Tracking Fund	Commodity	8.9%	33.5%
PDBC	Invesco Optimum Yield Diversified Com...	Commodity	8.9%	34.4%
FXN	First Trust Energy AlphaDEX Fund	Equity	7.4%	34.5%
BCI	abrdn Bloomberg All Commodity Strateg...	Commodity	7.4%	25.3%
FTGC	First Trust Global Tactical Commodity...	Commodity	7.2%	28.9%

Top Losers

Ticker	Company	Category	1M Rtn	YTD Rtn
EWY	iShares MSCI South Korea ETF	Equity	-22.2%	75.3%
NASA	Tema Space Innovators ETF	Equity	-21.8%	-7.6%
LIT	Global X Lithium & Battery Tech ETF	Equity	-16.4%	6.4%
SOXX	iShares Semiconductor ETF	Equity	-15.2%	84.6%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-15.2%	75.3%
ICLN	iShares Global Clean Energy ETF	Equity	-14.3%	12.8%
URA	Global X Uranium ETF	Equity	-12.5%	-4.1%
SMH	VanEck Semiconductor ETF	Equity	-12.3%	63.0%
UNG	United States Natural Gas Fund LP	Commodity	-9.9%	-13.5%
BOTZ	Global X Funds Global X Robotics & Ar...	Equity	-9.0%	-3.7%

Peer Comparisons

Peers to compare with:

Financials

	CSCO	HPE	ANET	DELL	PANW	FTNT	Median
Name	Cisco Sy.	Hewlett .	Arista N.	Dell Tec.	Palo Alt.	Fortinet
Mkt Price	112.21	48.13	174.87	441.80	335.28	155.05	164.96
Mkt Cap	443.5	64.3	219.9	286.7	268.6	114.6	244.2
Rev LTM	60,746	38,794	9,710	134,002	10,606	7,110	24,700
Op Inc LTM	14,408	2,248	4,155	10,848	1,020	2,211	3,202
FCF LTM	11,788	3,989	5,278	9,442	3,794	2,436	4,634
FCF 3Y Avg	12,334	2,353	3,733	6,128	3,269	2,065	3,501
CFO LTM	13,025	6,358	5,424	12,470	4,217	2,804	5,891
CFO 3Y Avg	13,277	4,739	3,811	8,895	3,528	2,395	4,275

Growth & Margins

	CSCO	HPE	ANET	DELL	PANW	FTNT	Median
Name	Cisco Sy.	Hewlett .	Arista N.	Dell Tec.	Palo Alt.	Fortinet
Rev Chg LTM	9.2%	22.6%	30.6%	38.6%	19.5%	15.7%	21.0%
Rev Chg 3Y Avg	3.5%	10.0%	26.0%	12.9%	17.8%	14.6%	13.8%
Rev Chg Q	12.0%	40.0%	35.1%	87.5%	31.1%	20.1%	33.1%
QoQ Delta Rev Chg LTM	2.9%	8.5%	7.8%	18.0%	7.2%	4.6%	7.5%
Op Inc Chg LTM	19.0%	1.7%	32.2%	63.1%	3.6%	14.2%	16.6%
Op Inc Chg 3Y Avg	0.8%	-4.8%	33.9%	29.1%	137.6%	27.5%	28.3%
Op Mgn LTM	23.7%	5.8%	42.8%	8.1%	9.6%	31.1%	16.7%
Op Mgn 3Y Avg	24.0%	6.9%	41.7%	7.2%	9.9%	28.8%	17.0%
QoQ Delta Op Mgn LTM	0.5%	1.0%	-0.0%	0.8%	-4.8%	0.4%	0.5%
CFO/Rev LTM	21.4%	16.4%	55.9%	9.3%	39.8%	39.4%	30.4%
CFO/Rev 3Y Avg	23.2%	14.4%	47.7%	8.2%	38.8%	38.5%	30.9%
FCF/Rev LTM	19.4%	10.3%	54.4%	7.0%	35.8%	34.3%	26.8%
FCF/Rev 3Y Avg	21.6%	7.0%	46.8%	5.6%	36.1%	33.1%	27.4%

Valuation

	CSCO	HPE	ANET	DELL	PANW	FTNT	Median
Name	Cisco Sy.	Hewlett .	Arista N.	Dell Tec.	Palo Alt.	Fortinet
Mkt Cap	443.5	64.3	219.9	286.7	268.6	114.6	244.2
P/S	7.3	1.7	22.7	2.1	25.3	16.1	11.7
P/Op Inc	30.8	28.6	52.9	26.4	263.3	51.8	41.3
P/EBIT	28.5	28.6	52.9	24.4	192.4	47.0	37.8
P/E	37.1	41.3	59.1	34.1	318.6	58.6	50.0
P/CFO	34.0	10.1	40.6	23.0	63.7	40.8	37.3
Total Yield	4.2%	3.5%	1.7%	3.5%	0.3%	1.7%	2.6%
Dividend Yield	1.5%	1.1%	0.0%	0.5%	0.0%	0.0%	0.3%
FCF Yield 3Y Avg	4.5%	5.9%	2.5%	4.4%	2.1%	2.8%	3.6%
D/E	0.1	0.3	0.0	0.1	0.0	0.0	0.0
Net D/E	0.0	0.2	-0.1	0.1	-0.0	-0.0	0.0

Returns

	CSCO	HPE	ANET	DELL	PANW	FTNT	Median
Name	Cisco Sy.	Hewlett .	Arista N.	Dell Tec.	Palo Alt.	Fortinet
1M Rtn	-7.3%	-0.6%	0.2%	5.7%	17.1%	6.6%	2.9%
3M Rtn	25.4%	69.3%	-1.6%	106.2%	85.0%	78.0%	73.7%
6M Rtn	53.7%	131.1%	37.4%	291.9%	84.8%	104.7%	94.7%
12M Rtn	68.0%	140.7%	59.3%	259.9%	70.4%	47.9%	69.2%
3Y Rtn	130.8%	201.3%	307.5%	771.5%	175.0%	98.4%	188.2%
1M Excs Rtn	-7.7%	-0.9%	-0.2%	5.3%	16.7%	6.3%	2.6%
3M Excs Rtn	19.4%	61.7%	-5.0%	102.2%	85.5%	75.7%	68.7%
6M Excs Rtn	44.1%	127.9%	26.8%	289.3%	71.8%	95.1%	83.5%
12M Excs Rtn	48.7%	118.9%	37.8%	229.4%	48.8%	26.1%	48.7%
3Y Excs Rtn	73.2%	139.2%	244.6%	687.6%	102.4%	27.3%	120.8%

Comparison Analyses

	Title
0	Cisco Systems vs. T-Mobile US: With Return Forecast Of 4.9%, Cisco Systems Is A Better Bet
1	Cisco Systems vs. UnitedHealth: With Return Forecast Of 29%, UnitedHealth Is A Better Bet
2	Cisco Systems vs. Philip Morris International: Neither Seems Like A Good Bet
3	Cisco Systems vs. Juniper Networks: Neither Seems Like A Good Bet
4	Cisco Systems vs. Telefonaktiebolaget L M Ericsson: With Return Forecast Of 4.9%, Cisco Systems Is A Better Bet
5	Cisco Systems vs. Vertiv: With Return Forecast Of 23%, Vertiv Is A Better Bet
6	Cisco Systems vs. NetApp: Neither Seems Like A Good Bet
7	Cisco Systems vs. Arista Networks: With Return Forecast Of 57%, Arista Networks Is A Better Bet
8	Cisco Systems vs. Netflix: Neither Seems Like A Good Bet
9	Cisco Systems vs. International Business Machines: With Return Forecast Of 4.6%, Cisco Systems Is A Better Bet

FDIC Bank Data

Bank Capital

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Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: 7/26	LTM	2025	2024	2023	2022	2021	2020
Period End	4/25/2026	7/26/2025	7/27/2024	7/29/2023	7/30/2022	7/31/2021	7/25/2020
Filing Date	5/19/2026	9/3/2025	9/5/2024	9/7/2023	9/8/2022	9/9/2021	9/3/2020
Key Financials
Total Revenue	60,746	56,654	53,803	56,998	51,557	49,818	49,301
Gross Profit	39,077	36,790	34,828	35,753	32,248	31,894	31,683
EBITDA	18,077	15,504	15,747	17,471	16,794	15,558	16,363
Operating Income	14,408	12,504	12,970	15,562	13,975	13,719	14,101
Net Income	11,958	10,180	10,320	12,613	11,812	10,591	11,214
EPS	3.08	2.56	2.55	3.08	2.83	2.51	2.65
Growth Rates
Total Revenue Growth	9.2%	5.3%	-5.6%	10.6%	3.5%	1.0%	-5.0%
EBITDA Growth	19.4%	-1.5%	-9.9%	4.0%	7.9%	-4.9%	-5.6%
Operating Income Growth	19.0%	-3.6%	-16.7%	11.4%	1.9%	-2.7%	-3.0%
Net Income Growth	22.1%	-1.4%	-18.2%	6.8%	11.5%	-5.6%	-3.5%
Margins
Gross Margin	64.3%	64.9%	64.7%	62.7%	62.5%	64.0%	64.3%
EBITDA Margin	29.8%	27.4%	29.3%	30.7%	32.6%	31.2%	33.2%
Operating Income Margin	23.7%	22.1%	24.1%	27.3%	27.1%	27.5%	28.6%
Net Income Margin	19.7%	18.0%	19.2%	22.1%	22.9%	21.3%	22.7%
Cash & Debt
Total Cash	16,640	16,110	17,854	26,146	19,267	24,518	29,419
Total Debt	31,303	28,093	30,973	8,391	9,515	11,526	14,583
Net Debt / (Cash)	14,663	11,983	13,119	-17,755	-9,752	-12,992	-14,836
Cash Flows & CapEx
Net Cash from Operations	13,025	14,193	10,880	19,886	13,226	15,454	15,426
Total CapEx	-1,237	-905	-670	-849	-477	-692	-770
Free Cash from Operations	11,788	13,288	10,210	19,037	12,749	14,762	14,656
Returns to Shareholders
Dividends	6,519	6,437	6,384	6,302	6,224	6,163	6,016
Share Repurchases	7,531	7,222	6,779	4,890	8,381	3,513	3,386

$ Mil \| FY: 7/26	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4
Period End	4/25/2026	1/24/2026	10/25/2025	7/26/2025	4/26/2025	1/25/2025	10/26/2024	7/27/2024	4/27/2024	1/27/2024	10/28/2023	7/29/2023
Filing Date	5/19/2026	2/17/2026	11/18/2025	9/3/2025	5/20/2025	2/18/2025	11/19/2024	9/5/2024	5/21/2024	2/20/2024	11/21/2023	9/7/2023
Key Financials Quarterly
Total Revenue	15,841	15,349	14,883	14,673	14,149	13,991	13,841	13,642	12,702	12,791	14,668	15,203
Ebitda	5,053	4,675	4,347	4,002	3,976	4,052	3,474	3,637	3,453	3,703	4,954	5,004
Operating Income	3,959	3,817	3,510	3,122	3,236	3,123	3,023	2,730	2,733	3,108	4,399	4,456
Net Income	3,373	3,175	2,860	2,550	2,491	2,428	2,711	2,162	1,886	2,634	3,638	3,958
EPS	0.85	0.80	0.72	0.71	0.63	0.61	0.68	0.54	0.47	0.65	0.90	0.97
Key Financials TTM
Total Revenue TTM	60,746	59,054	57,696	56,654	55,623	54,176	52,976	53,803	55,364	57,233	58,034	56,998
Ebitda TTM	18,077	17,000	16,377	15,504	15,139	14,616	14,267	15,747	17,114	18,178	18,435	17,471
Operating Income TTM	14,408	13,685	12,991	12,504	12,112	11,609	11,594	12,970	14,696	15,996	16,423	15,562
Net Income TTM	11,958	11,076	10,329	10,180	9,792	9,187	9,393	10,320	12,116	13,442	13,581	12,613
Growth Rates Quarterly
Total Revenue Growth	12.0%	9.7%	7.5%	7.6%	11.4%	9.4%	-5.6%	-10.3%	-12.8%	-5.9%	7.6%	16.0%
EBITDA Growth	27.1%	15.4%	25.1%	10.0%	15.1%	9.4%	-29.9%	-27.3%	-23.6%	-6.5%	24.2%	27.0%
Operating Income Growth	22.3%	22.2%	16.1%	14.4%	18.4%	0.5%	-31.3%	-38.7%	-32.2%	-12.1%	24.3%	29.8%
Net Income Growth	35.4%	30.8%	5.5%	17.9%	32.1%	-7.8%	-25.5%	-45.4%	-41.3%	-5.0%	36.3%	40.6%
Margins Quarterly
EBITDA Margin	31.9%	30.5%	29.2%	27.3%	28.1%	29.0%	25.1%	26.7%	27.2%	29.0%	33.8%	32.9%
Operating Income Margin	25.0%	24.9%	23.6%	21.3%	22.9%	22.3%	21.8%	20.0%	21.5%	24.3%	30.0%	29.3%
Net Income Margin	21.3%	20.7%	19.2%	17.4%	17.6%	17.4%	19.6%	15.8%	14.8%	20.6%	24.8%	26.0%
Cash & Debt
Total Cash	16,640	15,777	15,736	16,110	15,642	16,853	18,671	17,854	18,770	25,671	23,523	26,146
Total Debt	31,303	30,086	28,089	28,093	29,279	31,037	31,987	30,973	31,993	11,605	7,650	8,391
Net Debt / (Cash)	14,663	14,309	12,353	11,983	13,637	14,184	13,316	13,119	13,223	-14,066	-15,873	-17,755
Cash Flows Quarterly
FCF from Operations	3,757	1,822	3,212	4,234	4,057	2,241	3,661	3,730	3,971	808	2,371	5,966
Cash Flows TTM
FCF from Operations TTM	13,025	13,325	13,744	14,193	13,689	13,603	12,170	10,880	13,116	14,364	18,295	19,886
Returns to Shareholders Quarterly
Dividends	1,660	1,617	1,617	1,625	1,627	1,593	1,592	1,606	1,615	1,583	1,580	1,589
Share Repurchases	2,612	1,079	2,276	1,564	2,415	1,075	2,168	2,242	2,033	1,051	1,453	1,417
Return on Invested Capital (ROIC) Quarterly
ROIC	21.1%	21.5%	19.9%	18.1%	18.4%	17.7%	20.9%	17.1%	16.2%	35.2%	54.1%	63.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	19.5%	18.8%	18.4%	19.5%	19.0%	18.4%	18.7%	19.0%	21.9%	45.6%	51.4%	51.3%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Networking	28,304	29,229	34,570
Services	15,046	14,550	13,856	13,539	13,804
Security	8,094	5,075	3,859
Collaboration	4,154	4,113	4,052	4,472	4,727
Observability	1,055	837	661
End-to-End Security				3,699	3,382
Internet for the Future				5,276	4,514
Optimized Application Experiences				729	654
Other Products				11	15
Secure, Agile Networks				23,831	22,722
Total	56,653	53,804	56,998	51,557	49,818

Price Behavior

Price Behavior

Market Price	$112.21
Market Cap ($ Bil)	443.5
First Trading Date	03/26/1990
Distance from 52W High	-13.4%
	50 Days	200 Days
DMA Price	$116.72	$87.25
DMA Trend	up	up
Distance from DMA	-3.9%	28.6%
	3M	1YR
Volatility	45.6%	32.7%
Downside Capture	134.36	96.60
Upside Capture	208.21	137.21
Correlation (SPY)	40.2%	40.7%

CSCO Betas & Captures as of 6/30/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.53	1.44	1.06	1.18	1.04	0.84
Up Beta	-0.17	-0.59	-0.02	0.16	0.43	0.73
Down Beta	1.61	1.78	1.90	1.73	1.30	0.98
Up Capture	206%	287%	204%	206%	166%	83%
Bmk +ve Days	11	24	40	67	140	429
Stock +ve Days	8	23	39	71	138	412
Down Capture	188%	126%	92%	99%	96%	91%
Bmk -ve Days	10	17	23	58	112	321
Stock -ve Days	13	18	24	53	112	332

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with CSCO
CSCO	67.9%	32.6%	1.62	-
Sector ETF (XLK)	38.8%	24.7%	1.27	46.8%
Equity (SPY)	20.0%	12.6%	1.16	40.5%
Gold (GLD)	21.2%	28.1%	0.67	10.8%
Commodities (DBC)	33.0%	19.1%	1.36	6.7%
Real Estate (VNQ)	13.9%	14.0%	0.70	-5.4%
Bitcoin (BTCUSD)	-43.6%	42.9%	-1.21	17.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with CSCO
CSCO	19.0%	25.3%	0.67	-
Sector ETF (XLK)	19.6%	25.6%	0.68	55.4%
Equity (SPY)	12.8%	17.1%	0.58	57.2%
Gold (GLD)	17.3%	18.4%	0.76	7.4%
Commodities (DBC)	9.3%	19.5%	0.37	13.6%
Real Estate (VNQ)	2.7%	18.9%	0.04	36.2%
Bitcoin (BTCUSD)	15.2%	53.5%	0.46	19.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with CSCO
CSCO	17.7%	26.0%	0.65	-
Sector ETF (XLK)	24.5%	24.8%	0.89	64.4%
Equity (SPY)	15.1%	17.9%	0.72	66.8%
Gold (GLD)	11.5%	16.1%	0.58	4.5%
Commodities (DBC)	7.1%	17.9%	0.31	20.8%
Real Estate (VNQ)	5.0%	20.7%	0.20	44.6%
Bitcoin (BTCUSD)	58.5%	66.2%	0.99	15.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	6302026
Short Interest: Shares Quantity	53.8 Mil
Short Interest: % Change Since 6152026	-12.9%
Average Daily Volume	28.3 Mil
Days-to-Cover Short Interest	1.9 days
Basic Shares Quantity	3,952.0 Mil
Short % of Basic Shares	1.4%

Returns Analyses

	Title
0	How Low Can Cisco Systems Stock Really Go?
1	Cisco Systems During 2008 Recession vs. 2022 Inflation Shock: CSCO Stock Is Now 37% Higher Than Its Pre-Shock High
2	CSCO YTD Stock Return Of -2.2% Outperforms ERIC by 12% and Underperforms JNPR by -28%
3	Cisco (CSCO) Stock Has 64% Chance Of Rise In The Next One Month
4	Cisco Systems Stock Return Comparison
5	Cisco Systems Total Shareholder Return (TSR): 18.1% in 2023 and 6.4% 3-yr returns (below peer average)

Earnings Returns History

Updated 6/16/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
5/13/2026	13.4%	12.3%	18.9%
2/11/2026	-12.3%	-8.2%	-8.4%
11/12/2025	4.6%	6.0%	5.8%
8/13/2025	-1.6%	-4.7%	-5.5%
5/14/2025	4.8%	3.1%	4.6%
2/12/2025	2.1%	3.4%	-3.2%
11/13/2024	-2.1%	-2.8%	-0.9%
8/14/2024	6.8%	11.0%	9.6%
...
SUMMARY STATS
# Positive	14	14	13
# Negative	10	10	11
Median Positive	4.7%	4.6%	5.8%
Median Negative	-4.1%	-4.7%	-6.4%
Max Positive	13.4%	12.3%	18.9%
Max Negative	-13.7%	-13.0%	-17.1%

Collapse to Preview

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
5/13/2026	13.4%	12.3%	18.9%
2/11/2026	-12.3%	-8.2%	-8.4%
11/12/2025	4.6%	6.0%	5.8%
8/13/2025	-1.6%	-4.7%	-5.5%
5/14/2025	4.8%	3.1%	4.6%
2/12/2025	2.1%	3.4%	-3.2%
11/13/2024	-2.1%	-2.8%	-0.9%
8/14/2024	6.8%	11.0%	9.6%
5/15/2024	-2.7%	-4.5%	-8.0%
2/14/2024	-2.4%	-3.4%	-2.7%
11/15/2023	-9.8%	-9.8%	-6.4%
8/16/2023	3.3%	5.7%	5.8%
5/17/2023	1.2%	1.6%	9.3%
2/15/2023	5.2%	1.6%	3.6%
11/16/2022	5.0%	9.4%	7.7%
8/17/2022	5.8%	0.9%	-7.2%
5/18/2022	-13.7%	-9.0%	-10.3%
2/16/2022	2.8%	0.9%	3.2%
11/17/2021	-5.5%	-2.1%	6.5%
8/18/2021	3.8%	7.6%	3.1%
5/19/2021	0.7%	0.8%	-0.8%
2/9/2021	-2.6%	-4.6%	0.6%
11/12/2020	7.1%	6.5%	14.4%
8/12/2020	-11.2%	-13.0%	-17.1%
SUMMARY STATS
# Positive	14	14	13
# Negative	10	10	11
Median Positive	4.7%	4.6%	5.8%
Median Negative	-4.1%	-4.7%	-6.4%
Max Positive	13.4%	12.3%	18.9%
Max Negative	-13.7%	-13.0%	-17.1%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
04/30/2026	05/19/2026	10-Q
01/31/2026	02/17/2026	10-Q
10/31/2025	11/18/2025	10-Q
07/31/2025	09/03/2025	10-K
04/30/2025	05/20/2025	10-Q
01/31/2025	02/18/2025	10-Q
10/31/2024	11/19/2024	10-Q
07/31/2024	09/05/2024	10-K
04/30/2024	05/21/2024	10-Q
01/31/2024	02/20/2024	10-Q
10/31/2023	11/21/2023	10-Q
07/31/2023	09/07/2023	10-K
04/30/2023	05/24/2023	10-Q
01/31/2023	02/21/2023	10-Q
10/31/2022	11/22/2022	10-Q
07/31/2022	09/08/2022	10-K

Collapse to Preview

Report Date	Filing Date	Filing
04/30/2026	05/19/2026	10-Q
01/31/2026	02/17/2026	10-Q
10/31/2025	11/18/2025	10-Q
07/31/2025	09/03/2025	10-K
04/30/2025	05/20/2025	10-Q
01/31/2025	02/18/2025	10-Q
10/31/2024	11/19/2024	10-Q
07/31/2024	09/05/2024	10-K
04/30/2024	05/21/2024	10-Q
01/31/2024	02/20/2024	10-Q
10/31/2023	11/21/2023	10-Q
07/31/2023	09/07/2023	10-K
04/30/2023	05/24/2023	10-Q
01/31/2023	02/21/2023	10-Q
10/31/2022	11/22/2022	10-Q
07/31/2022	09/08/2022	10-K
04/30/2022	05/25/2022	10-Q
01/31/2022	02/22/2022	10-Q
10/31/2021	11/23/2021	10-Q
07/31/2021	09/09/2021	10-K
04/30/2021	05/25/2021	10-Q
01/31/2021	02/16/2021	10-Q
10/31/2020	11/17/2020	10-Q
07/31/2020	09/03/2020	10-K
04/30/2020	05/18/2020	10-Q
01/31/2020	02/18/2020	10-Q
10/31/2019	11/19/2019	10-Q
07/31/2019	09/05/2019	10-K

Recent Forward Guidance

Updated 7/8/2026

Latest: Q3 2026 Earnings Reported 5/13/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2026 Revenue	16.70 Bil	16.80 Bil	16.90 Bil
Q4 2026 Non-GAAP Gross Margin	65.5%	66.0%	66.5%
Q4 2026 Non-GAAP Operating Margin	34.0%	34.5%	35.0%
Q4 2026 Non-GAAP EPS	1.16	1.17	1.18
Q4 2026 GAAP EPS	0.8	0.82	0.85
2026 Revenue	62.80 Bil	62.90 Bil	63.00 Bil	2.4%		Raised	Guidance: 61.45 Bil for 2026
2026 Non-GAAP EPS	4.27	4.28	4.29	3.1%		Raised	Guidance: 4.15 for 2026
2026 GAAP EPS	3.16	3.19	3.21	4.8%		Raised	Guidance: 3.04 for 2026

Prior: Q2 2026 Earnings Reported 2/11/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2026 Revenue	15.40 Bil	15.50 Bil	15.60 Bil
Q3 2026 Non-GAAP Gross Margin	65.5%	66.0%	66.5%
Q3 2026 Non-GAAP Operating Margin	33.5%	34.0%	34.5%
Q3 2026 Non-GAAP EPS	1.02	1.03	1.04
Q3 2026 GAAP EPS	0.73	0.75	0.77
2026 Revenue	61.20 Bil	61.45 Bil	61.70 Bil	1.4%		Raised	Guidance: 60.60 Bil for 2026
2026 Non-GAAP EPS	4.13	4.15	4.17	1.0%		Raised	Guidance: 4.11 for 2026
2026 GAAP EPS	3	3.04	3.08	3.9%		Raised	Guidance: 2.92 for 2026

Q1 2026 Earnings Reported 11/12/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Revenue	15.00 Bil	15.10 Bil	15.20 Bil	2.4%		Higher New	Guidance: 14.75 Bil for Q1 2026
Q2 2026 Non-GAAP Gross Margin	67.5%	68.0%	68.5%		0	Same New	Guidance: 68.0% for Q1 2026
Q2 2026 Non-GAAP Operating Margin	33.5%	34.0%	34.5%		0.5%	Higher New	Guidance: 33.5% for Q1 2026
Q2 2026 Non-GAAP EPS	1.01	1.02	1.03	4.1%		Higher New	Guidance: 0.98 for Q1 2026
Q2 2026 GAAP EPS	0.69	0.71	0.74	9.2%		Higher New	Guidance: 0.66 for Q1 2026
2026 Revenue	60.20 Bil	60.60 Bil	61.00 Bil	1.8%		Raised	Guidance: 59.50 Bil for 2026
2026 Non-GAAP EPS	4.08	4.11	4.14	2.0%		Raised	Guidance: 4.03 for 2026
2026 GAAP EPS	2.87	2.92	2.98	2.6%		Raised	Guidance: 2.85 for 2026

Insider Activity

Updated 7/13/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	6172026	119.91	7,127	854,599	16,890,171	Form
2	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	6112026	121.12	2,607	315,771	20,921,454	Form
3	Patterson, Mark	EVP and CFO	Direct	Sell	6112026	119.96	7,397	887,322	21,294,393	Form
4	Robbins, Charles	Chair and CEO	Direct	Sell	5272026	120.03	21,400	2,568,584	76,467,557	Form
5	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	5192026	114.61	2,761	316,438	20,730,293	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	6172026	119.91	7,127	854,599	16,890,171	Form
2	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	6112026	121.12	2,607	315,771	20,921,454	Form
3	Patterson, Mark	EVP and CFO	Direct	Sell	6112026	119.96	7,397	887,322	21,294,393	Form
4	Robbins, Charles	Chair and CEO	Direct	Sell	5272026	120.03	21,400	2,568,584	76,467,557	Form
5	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	5192026	114.61	2,761	316,438	20,730,293	Form
6	Stahlkopf, Deborah L	EVP and Chief Legal Officer	Direct	Sell	5192026	117.31	6,586	772,580	20,789,396	Form
7	Patterson, Mark	EVP and CFO	Direct	Sell	5192026	117.29	5,512	646,485	22,438,478	Form
8	Patel, Jeetendra I	President and CPO	Direct	Sell	5192026	117.28	7,169	840,781	28,937,374	Form
9	Patterson, Mark	EVP and CFO	Direct	Sell	3232026	77.97	4,892	381,450	15,598,009	Form
10	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	3192026	79.74	3,132	249,746	15,040,000	Form
11	Stahlkopf, Deborah L	EVP and Chief Legal Officer	Direct	Sell	3192026	79.50	7,981	634,513	14,874,770	Form
12	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	3122026	77.07	1,744	134,410	12,076,338	Form
13	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	3122026	77.54	551	42,725	2,167,766	Form
14	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	2242026	77.74	2,179	169,395	2,239,430	Form
15	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	2202026	78.60	10,233	804,268	12,587,278	Form
16	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	2172026	74.24	51	3,786	2,300,376	Form
17	Patel, Jeetendra I	President and CPO	Direct	Sell	2172026	76.00	11,248	854,853	19,971,065	Form
18	Robbins, Charles	Chair and CEO	Direct	Sell	2172026	76.00	19,545	1,485,395	51,002,391	Form
19	Capellas, Michael D		Direct	Sell	12192025	77.13	10,850	836,860	11,289,364	Form
20	Capellas, Michael D		Direct	Sell	12192025	77.28	16,150	1,247,994	12,149,052	Form
21	Johnson, Kristina M		Direct	Sell	12182025	77.13	13,481	1,039,845	4,753,785	Form
22	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	12122025	79.46	1,745	138,658	14,010,279	Form
23	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	12122025	80.33	428	34,381	2,584,729	Form
24	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	11242025	76.38	9,801	748,586	2,522,465	Form
25	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	11212025	79.21	13,353	1,057,691	15,607,507	Form
26	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	11202025	78.33	56,038	4,389,264	14,081,518	Form
27	Patterson, Mark	EVP and CFO	Direct	Sell	11202025	77.30	68,916	5,327,200	16,147,694	Form
28	Robbins, Charles	Chair and CEO	Direct	Sell	11182025	77.30	116,734	9,023,672	54,431,841	Form
29	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	11182025	77.98	15	1,170	16,406,415	Form
30	Stahlkopf, Deborah L	EVP and Chief Legal Officer	Direct	Sell	11182025	77.98	20	1,560	15,340,098	Form
31	Robbins, Charles	Chair and CEO	Direct	Sell	11182025	78.35	281,860	22,084,655	64,319,194	Form
32	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	11182025	76.56	5,425	415,338	16,108,806	Form
33	Stahlkopf, Deborah L	EVP and Chief Legal Officer	Direct	Sell	11182025	77.85	164,584	12,813,549	15,316,900	Form
34	Patel, Jeetendra I	President and CPO	Direct	Sell	11182025	77.86	163,896	12,760,201	21,885,824	Form
35	Robbins, Charles	Chair and CEO	Direct	Sell	11182025	77.82	203,838	15,863,311	85,819,230	Form
36	Tuszik, Oliver	EVP, Global Sales	Direct	Sell	9222025	67.95	17,526	1,190,839	13,511,577	Form
37	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	9152025	66.78	1,744	116,464	10,551,816	Form
38	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	9112025	68.25	428	29,211	2,089,729	Form
39	Stahlkopf, Deborah L	EVP and Chief Legal Officer	Direct	Sell	9112025	68.08	2,718	185,054	10,701,824	Form
40	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	8272025	67.28	3,162	212,739	2,117,178	Form
41	Subaiya, Thimaya K	EVP, Operations	Direct	Sell	8202025	66.84	7,511	502,022	10,792,159	Form
42	Patterson, Mark	EVP and CFO	Direct	Sell	8192025	66.98	7,230	484,294	10,574,636	Form
43	Patel, Jeetendra I	President and CPO	Direct	Sell	8192025	66.60	9,061	603,437	15,810,509	Form
44	Robbins, Charles	Chair and CEO	Direct	Sell	8192025	66.63	30,557	2,036,057	42,577,483	Form
45	Stahlkopf, Deborah L	EVP and Chief Legal Officer	Direct	Sell	8192025	66.60	9,783	651,568	10,767,048	Form
46	Wong, Maria Victoria	SVP & Chief Acctg Officer	Direct	Sell	8192025	68.61	475	32,590	2,375,976	Form

Investor Activity (13F)

Updated Jul 23, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Oribel Capital Management, LP	$51.0 Mil	7.8%	41	ADD +136.8%	13F
Harbor Island Capital LLC	$16.0 Mil	5.9%	16	Hold	13F
WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST	$465.5 Mil	5.8%	21	Hold	13F
Westerly Capital Management, LLC	$17.5 Mil	5.4%	36	New	13F
Westchester Capital Management, Inc.	$19.5 Mil	3.9%	45	Hold	13F
Lone Peak Global Investors LLC	$23.4 Mil	3.9%	42	ADD +10.7%	13F
Randolph Co Inc	$40.6 Mil	3.9%	43	Hold	13F
Minneapolis Portfolio Management Group, LLC	$33.2 Mil	3.5%	33	Hold	13F
Weybosset Research & Management LLC	$11.7 Mil	3.4%	33	Hold	13F
Promethos Capital, LLC	$9.9 Mil	2.7%	46	TRIM -6.3%	13F
Cincinnati Specialty Underwriters Insurance CO	$10.0 Mil	2.4%	46	ADD +44.7%	13F
Summit Street Capital Management, LLC	$15.8 Mil	2.2%	31	Hold	13F
Benchstone Capital Management LP	$17.6 Mil	2.1%	38	New	13F
Glenview Capital Management, LLC	$26.4 Mil	0.7%	41	New	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Glenview Capital Management, LLC	$26.4 Mil	0.7%	41	New	13F
Benchstone Capital Management LP	$17.6 Mil	2.1%	38	New	13F
Westerly Capital Management, LLC	$17.5 Mil	5.4%	36	New	13F
Oribel Capital Management, LP	$51.0 Mil	7.8%	41	ADD +136.8%	13F
Cincinnati Specialty Underwriters Insurance CO	$10.0 Mil	2.4%	46	ADD +44.7%	13F
Lone Peak Global Investors LLC	$23.4 Mil	3.9%	42	ADD +10.7%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	As Of	Filing
St. James Investment Company, LLC	$9.1 Mil	1.5%	30	Exited	Dec 31, 2025	13F
Benson Investment Management Company, Inc.	$7.1 Mil	2.5%	50	Exited	Dec 31, 2025	13F
Promethos Capital, LLC	$9.9 Mil	2.7%	46	TRIM -6.3%	Mar 31, 2026	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST	$465.5 Mil	5.8%	21	Hold	13F
Oribel Capital Management, LP	$51.0 Mil	7.8%	41	ADD +136.8%	13F
Randolph Co Inc	$40.6 Mil	3.9%	43	Hold	13F
Minneapolis Portfolio Management Group, LLC	$33.2 Mil	3.5%	33	Hold	13F
Glenview Capital Management, LLC	$26.4 Mil	0.7%	41	New	13F
Lone Peak Global Investors LLC	$23.4 Mil	3.9%	42	ADD +10.7%	13F
Westchester Capital Management, Inc.	$19.5 Mil	3.9%	45	Hold	13F
Benchstone Capital Management LP	$17.6 Mil	2.1%	38	New	13F
Westerly Capital Management, LLC	$17.5 Mil	5.4%	36	New	13F
Harbor Island Capital LLC	$16.0 Mil	5.9%	16	Hold	13F
Summit Street Capital Management, LLC	$15.8 Mil	2.2%	31	Hold	13F
Weybosset Research & Management LLC	$11.7 Mil	3.4%	33	Hold	13F
Cincinnati Specialty Underwriters Insurance CO	$10.0 Mil	2.4%	46	ADD +44.7%	13F
Promethos Capital, LLC	$9.9 Mil	2.7%	46	TRIM -6.3%	13F

CSCO Trade Sentinel

Stock Conviction

High Conviction

CONVICTION RATIONALE

Conviction is high, centered on a powerful business re-acceleration. Cisco is capturing a massive AI infrastructure wave, evidenced by its fiscal 2026 AI order forecast nearly doubling to $9 billion. This is paired with a multi-year campus network refresh, driving total product order growth to an accelerating 35% rate.

STOCK ARCHETYPE

Hybrid: Project-based hardware sales and recurring software/service subscriptions.

Volume of devices sold x Average Selling Price + Number of subscriptions x Average Recurring Revenue. Gross margin on high-volume Networking hardware sales and high-margin, recurring Services revenue.

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

Can a dual AI and campus refresh cycle create a new growth era?

Evidence points to a powerful re-acceleration driven by two distinct, concurrent demand waves.

Mechanism: AI infrastructure demand, with a full-year order forecast raised to $9 billion, combines with a campus refresh, driving total product order growth to 35% year-over-year.

Supporting Evidence:

Total product orders accelerated for the third straight quarter to 35% YoY growth in Q3.
FY26 AI infrastructure order forecast was raised from $5 billion to $9 billion.
Campus networking orders grew over 25% year-over-year in Q3, a record for the segment.
Full-year FY26 revenue guidance was raised by 2.4% at the last report.

PRIMARY RISK

Margin Pressure from Hardware Mix

The surge in lower-margin AI hardware sales is compressing profitability, with latest-quarter gross margin falling 2.0 percentage points to 63.6%.

Mechanism: A failure to stabilize gross margins as AI revenue ramps would signal value-destructive growth.

Supporting Evidence:

Latest-quarter gross margin fell 2.0 percentage points year-over-year to 63.6%.
Product gross margin was 61.9% in Q3, below the 69.2% for Services.
Management cited higher memory costs as a primary driver of margin pressure.
Inventory grew 66.2% YoY, far outpacing 12% revenue growth, increasing balance sheet risk.

Key KPI Watchlist

KPI	Status	Rationale
Total Product Orders Growth	35% year-over-year growth in Q3 FY2026 - Accelerating	Total product order growth has shown significant and sustained acceleration throughout fiscal 2026, indicating a powerful upswing in demand for the company's portfolio. The most recent quarter's 35% growth marks a substantial step-up from the 18% growth seen in the prior quarter.
AI Infrastructure Orders	$1.9 billion in Q3 FY2026 - Accelerating	While the quarterly figure dipped slightly, the overall momentum is extremely strong, evidenced by management nearly doubling the full-year fiscal 2026 forecast for AI orders from $5 billion to $9 billion. This represents a 4.5x increase over the prior fiscal year's total.
Remaining Performance Obligations (RPO)	$43.5 billion (As of Q3 FY2026 (April 25, 2026))	Represents the total amount of future revenue that is under contract but has not yet been recognized, providing visibility into future revenue streams from products and services.

Core Investment Debate

AI Revenue Boom vs. Hardware Margin Squeeze

BULL VIEW

Bulls believe the 35% product order growth signals a generational opportunity that justifies near-term margin pressure, creating significant long-term earnings power as the company scales.

CORE TENSION

Can accelerating 35% product order growth offset the 2.0 percentage point gross margin decline, a trade-off the market's +16.0% post-earnings reaction endorsed?

PREVAILING SENTIMENT

BULLISH

The latest evidence favors the bulls. The market rewarded the massive increase in the AI order forecast, prioritizing top-line acceleration over the acknowledged margin impact.

BEAR VIEW

Bears argue the 2.0 percentage point drop in gross margin reveals a pivot to lower-quality revenue that will fail to translate into meaningful profit growth.

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch
Wednesday, August 12, 2026	Next Quarterly Earnings Report Watch: Cisco reports Q4 Fiscal Year 2026 financial results and provides guidance for Q1 Fiscal Year 2027.
9/1/2026	Peer HPE Earnings Watch: Peer Hewlett Packard Enterprise (HPE) is scheduled to report earnings, providing a competitive data point on networking and AI infrastructure demand.
September 20, 2026	Senior Note Matures Watch: A senior fixed-rate note with a principal amount of $1.5 billion matures.
11/2/2026	Peer Outperformance Highlights Slower Core Growth Watch: Revenue growth and margin commentary from Arista Networks, a key competitor reporting just before Cisco.
11/10/2026	Margin Pressure From AI Hardware Mix Watch: Gross margin guidance for Q1 FY27 and commentary on the mix between hardware and software.
11/10/2026	Splunk Revenue Recognition Drag Persists Watch: Security segment revenue growth and management commentary on the pace of the Splunk cloud transition.
11/10/2026	Q1 Fiscal 2027 Earnings Watch: Cisco reports Q1 Fiscal Year 2027 financial results, providing the first update on the new fiscal year.

Key Events in Last 6 Months

Date	Event	Stock Impact
2026-06-23	Supreme Court Ends China Lawsuit Details: The U.S. Supreme Court ended a lawsuit that had alleged Cisco helped China pursue members of the Falun Gong movement, limiting corporate liability for human rights abuses abroad.	-1.5% $121.08 -> $119.28
2026-06-02	Agentic Platform for IT Unveiled Details: Cisco unveiled Cisco Cloud Control, a unified platform for human operators and AI agents to run critical IT infrastructure, advancing its AgenticOps vision.	+4.3% $120.88 -> $126.03
2026-05-19	AI Agent Collaboration with Tech Leaders Details: Automation Anywhere announced EnterpriseClaw, a collaboration with Cisco, NVIDIA, Okta, and OpenAI, to run next-generation AI agents inside enterprise systems with centralized control.	-3.8% $118.44 -> $113.92
2026-05-13	Strong Q3 Earnings and Guidance Raise Details: Cisco reported record Q3 revenue of $15.8 billion, up 12% year-over-year, with total product orders up 35%. The company raised its full-year 2026 revenue and EPS guidance.	+16.4% $98.92 -> $115.10
2026-03-23	Security Advancements for Agentic Workforce Details: Cisco announced it was reimagining security for the agentic workforce, extending Zero Trust Access to AI agents with new capabilities in identity, access management, and policy enforcement.	+4.1% $76.94 -> $80.12
2026-02-11	Negative Post-Earnings Stock Reaction Details: Following its earnings report, the stock had a two-day reaction of -13.0%. A news report noted the market was "impatient for growth" despite a beat-and-raise quarter.	-13.1% $85.51 -> $74.32
2026-01-20	Georgetown University Campus Network Modernization Details: Georgetown University selected Cisco to transform its campus connectivity, launching one of the largest Wi-Fi 7 initiatives in higher education.	-2.0% $74.51 -> $73.02

Risk Management

Position Sizing

2% - 4%

REDUCED POSITION

Sizing is volatility-based: CSCO trades at roughly 43% annualized options-implied volatility versus about 15% for the S&P 500 (2.9x the market), around the 100th percentile of its own trailing year. A 2% - 4% position keeps a single-name swing of that size within a diversified portfolio's risk budget.

Diversification Alternatives

ANET - Arista Networks, Inc.

Pure-Play AI Networking

Arista offers more concentrated exposure to the high-speed data center and AI networking market, with a higher operating margin of 42.8% versus Cisco's 23.7%.

Core Thesis: The company is a focused leader in high-performance switching for cloud and AI data centers.

HPE - Hewlett Packard Enterprise Company

Broader AI Systems

HPE provides exposure to the AI server market in addition to networking, booking $1.8 billion in new AI systems orders in its latest quarter.

Core Thesis: The company is a key supplier of integrated compute, storage, and networking for enterprise AI.

How Is The Market Pricing CSCO?

Cisco is a core infrastructure provider for the AI build-out, capturing massive hardware demand from hyperscalers while simultaneously benefiting from a long-overdue enterprise network upgrade cycle.

Cisco is experiencing a significant demand acceleration driven by two main tailwinds: the urgent need for high-performance networking to support AI workloads, and a major campus networking refresh cycle. The company is capitalizing on the AI trend with its Silicon One architecture and Acacia optics, securing multi-billion dollar orders from hyperscalers. This AI-driven growth is complemented by strong enterprise demand to modernize networks, creating a powerful, dual-engine growth story for the near term.

What will confirm the thesis

Continued triple-digit growth in AI infrastructure orders, acceleration in campus networking order growth, and sustained high single-digit or double-digit growth in total product orders ex-hyperscalers.

What will damage the thesis

A sharp deceleration in hyperscaler orders, commentary about enterprise customers pausing network upgrades, or significant market share loss in core switching to competitors like Arista.

Noise: Real but irrelevant to thesis

Minor quarterly fluctuations in the smaller Collaboration or Observability segments; typical stock market volatility unrelated to fundamental demand trends.

Repricing Catalyst

The significant upward revision of AI infrastructure order and revenue expectations for FY2026, signaling that the AI-driven demand is larger and accelerating faster than previously anticipated.

What CSCO Makes & Who Pays

TTM figures based on the twelve months through fiscal Q2 2026

Networking

$30.8B TTM (52% of Total)

What It Is

Sells core networking technologies including switching, routing, wireless, and servers as both hardware and software to enterprises, public sector, and service/cloud providers to build and transform their network infrastructure.

Who Pays & How

Enterprises and webscale cloud providers pay for high-performance, scalable infrastructure to handle increasing data loads, particularly for AI training and inference workloads. Customers choose Cisco for its integrated portfolio, including its proprietary Silicon One architecture.

Primarily upfront revenue recognition on hardware and perpetual software, with some term licenses and SaaS offerings recognized over time.

Competition

Arista Networks, Inc., Hewlett-Packard Enterprise Company, Dell Technologies Inc., Huawei Technologies Co., Ltd., Nvidia Corporation

Competitors may have greater resources or focus on specific product areas, including 'white box' hardware based on commoditized components.

Ability to provide a broad, integrated portfolio of networking solutions, including proprietary silicon (Cisco Silicon One), and a large installed base.

Security

$8.0B TTM (13% of Total)

What It Is

Sells a portfolio spanning Network Security, Identity and Access Management, SASE, and Threat Intelligence, Detection, and Response (TIDR) solutions, including offerings from the Splunk acquisition, to organizations of all sizes.

Who Pays & How

Organizations pay to protect against increasingly sophisticated cyberattacks, particularly with the rapid growth in AI. Customers choose Cisco for its strategy of moving from point solutions to an integrated platform infused into the network fabric.

A mix of hardware, software licenses, and SaaS. Revenue for security software licenses is generally recognized ratably over the contract term due to the critical nature of continuous updates.

Competition

Palo Alto Networks, Inc., Fortinet, Inc., CrowdStrike Holdings, Inc., Zscaler, Inc.

Some competitors are primarily focused in a specific product area.

Ability to integrate security into the fabric of the network, leveraging telemetry data from its vast networking footprint, strengthened by the Splunk acquisition.

Collaboration

$4.2B TTM (7% of Total)

What It Is

Sells the Webex suite, collaboration devices, Contact Center, and Communication Platform as a Service (CPaaS) offerings to enable distributed teams to collaborate.

Who Pays & How

Enterprises pay to provide technology for employee and customer experiences, enabling collaboration for distributed teams through on-premises, cloud, or hybrid solutions.

A mix of hardware sales, perpetual software licenses, and subscriptions.

Competition

Microsoft Corporation, Zoom Video Communications, Inc., RingCentral, Inc.

Ability to offer end-to-end collaboration solutions that can be delivered on-premises, from the cloud, or in hybrid environments, with AI capabilities embedded across the portfolio.

Observability

$1.1B TTM (2% of Total)

What It Is

Sells network assurance (ThousandEyes), monitoring, analytics, and observability suite offerings (including Splunk Observability and AppDynamics) to provide end-to-end visibility of customer environments.

Who Pays & How

Organizations pay to monitor their entire enterprise—applications, networks, and multi-cloud infrastructures—to prevent downtime and improve digital experiences.

Primarily software offerings, including licenses and SaaS.

Competition

Datadog Inc., Dynatrace Inc., New Relic, Inc.

Ability to provide full-stack insights from infrastructure to application performance, leveraging its deep networking expertise and the addition of Splunk's capabilities.

Services

$15.1B TTM (26% of Total)

What It Is

Provides a broad range of technical support and professional services (planning, design, implementation, consulting) for its products to its entire customer base.

Who Pays & How

Customers pay to protect their network investments, manage risk, and minimize downtime for mission-critical systems by ensuring Cisco products operate efficiently and remain highly available.

Technical support services revenue is recognized ratably over the contract term. Advanced services revenue is recognized as services are delivered.

Competition

Deep expertise tied to its own complex product portfolio and a large global support infrastructure.

CSCO Evolution: Price Return by Era

2021-2023 · Pre-2023: Diversification and Software Transition

+25%

Cisco's revenue mix showed a growing contribution from its Security and Services segments, reflecting a strategic push towards software and recurring revenue. The core Networking segment remained the largest but saw its relative share decline as in the third quarter of fiscal 2024, we acquired Splunk.

2024-Present · Post-2024: AI-Driven Hardware Resurgence

+139%

The advent of generative AI has reignited massive growth in the core Networking segment, driven by hyperscaler demand for AI infrastructure. This has reversed the previous trend, with Networking reasserting its dominance as the primary growth engine, complemented by the acquisition of Splunk to bolster the Security and Observability platforms.

Market Is In Wait-and-See Mode

Price structure is neutral. The price is in a holding pattern with no clear directional commitment from the moving average stack. Relative to SPY: Strong 63D outperformance but 'relative strength' momentum is fading, indicating that money rotation may be maturing. Volume and momentum show mild distribution. The selling pressure is present but not overwhelming. Earnings history is strongly validating. The market rewarded the print and institutional follow-through confirms thesis re-rating is underway.

① Structure

Structural pillar score (-4 to +4). Driven by trend regime, SMA cross events, proximity to 52W high, and relative strength vs SPY.

② Volume / Momentum

-1

Volume/Momentum pillar score (-4 to +4). Driven by institutional footprint score, OBV divergence, and momentum character.

③ Catalyst

Catalyst pillar score (-4 to +4). Driven by earnings day reaction, 20D post-earnings drift, and post-earnings volume character.

Combined Score

3 / 12

1 Price Structure & Trend Potential Bottoming · - ▾

2 Momentum Pausing ▾

3 Relative Strength vs. SPY Facing Relative Strength ▾

4 Institutional Footprint & Volume Neutral / Mixed ▾

5 Volatility Normal ▾

6 Key Price Levels Range · Vol Flat ▾

7 Earnings Reaction History Inconsistent ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	-1
③ Catalyst	+4

ℹ Bull Pillars: 1 · Bear Pillars: 1 · Combined Score: 3 → Market Is In Wait-and-See Mode

Cisco Systems — Investor Video Playlist

Products & Services

The Opportunity and Challenge of Agentic Security with Jeetu Patel, DJ Sampath, and Matt Caulfield

Cisco · 2026-07-21

Leadership

The Path to Digital Resilience with Jeetu Patel and Kamal Hathi

Cisco · 2026-07-21

Products & Services

Cisco releases two, open-weight models to scan for security flaws at a cheaper cost

CNBC Television · 2026-07-21

Products & Services

Building AI-Ready Data Centers with Jeetu Patel, Tom Gillis, Kevin Wollenweber, and Will Eatherton

Cisco · 2026-07-21

Leadership

Shaping Cisco's portfolio strategy with Jeetu Patel and Jeff Schultz

Cisco · 2026-07-21

Products & Services

Wednesday Keynote: From Agentic Vision to Enterprise Reality

Cisco · 2026-06-05

Leadership

Opening Keynote: Lead in the Agentic Era

Cisco · 2026-06-02

Investor / Analyst

Cisco Q3FY26 Earnings Conference Call

Cisco · 2026-05-14

Investor / Analyst

Cisco AI Summit | Special live event with Jensen Huang

Cisco · 2026-02-04

Industry Resources

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MIT Technology Review

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Core Cache Last Updated: 7/22/2026

Cisco Systems (CSCO)

Market Price (7/23/2026): $112.61 | Market Cap: $445.0 BilInvestor Relations ↗Sector: Information Technology | Industry: Communications Equipment

Cisco Systems (CSCO)

Market Price (7/23/2026): $112.61Market Cap: $445.0 BilSector: Information TechnologyIndustry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

CSCO in ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

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In The Past

Preserve Wealth

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About Cisco Systems (CSCO)

Overall Addressable Market

Infrastructure Platforms

Collaboration Products

Security Products

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Cisco Systems (CSCO)

INDUSTRY: Communications Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for CSCO: 3.5% | 7.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CSCO: 3.5% | 30.8x)

Higher Rev Chg LTM (Value for CSCO: 9.2%)

Higher Rev Chg 3Y Avg (Value for CSCO: 3.5%)

Higher Op Mgn LTM (Value for CSCO: 23.7%)

Higher CFO/Rev LTM (Value for CSCO: 21.4%)

Higher FCF/Rev LTM (Value for CSCO: 19.4%)

Higher Total Yield (Value for CSCO: 4.2%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for CSCO: 3.5% | 7.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CSCO: 3.5% | 30.8x)

Higher Rev Chg LTM (Value for CSCO: 9.2%)

Higher Rev Chg 3Y Avg (Value for CSCO: 3.5%)

Higher Op Mgn LTM (Value for CSCO: 23.7%)

Higher CFO/Rev LTM (Value for CSCO: 21.4%)

Higher FCF/Rev LTM (Value for CSCO: 19.4%)

Higher Total Yield (Value for CSCO: 4.2%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CSCO: 3.5% | 7.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CSCO: 3.5% | 30.8x)

Higher Rev Chg LTM (Value for CSCO: 9.2%)

Higher Rev Chg 3Y Avg (Value for CSCO: 3.5%)

Higher Op Mgn LTM (Value for CSCO: 23.7%)

Higher CFO/Rev LTM (Value for CSCO: 21.4%)

Higher FCF/Rev LTM (Value for CSCO: 19.4%)

Higher Total Yield (Value for CSCO: 4.2%)

Best Bets in Information Technology

P/EBIT (Value for CSCO: 28.5x)

P/E (Value for CSCO: 37.1x)

Rev Chg 3Y Avg (Value for CSCO: 3.5%)

Rev Chg LTM (Value for CSCO: 9.2%)

Rev Chg Q (Value for CSCO: 12.0%)

FCF/Rev 3Y Avg (Value for CSCO: 21.6%)

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Market Price (7/23/2026): $112.61 | Market Cap: $445.0 BilInvestor Relations Sector: Information Technology | Industry: Communications Equipment

Market Price (7/23/2026): $112.61
Market Cap: $445.0 Bil
Sector: Information Technology
Industry: Communications Equipment