Cisco Systems
Builds network infrastructure with integrated security, observability, collaboration, and services.
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Profile
Sells switches, routers, wireless systems, security and observability software, Webex collaboration tools, and lifecycle services to organizations and service providers worldwide. Revenue combines upfront hardware and license sales with subscriptions, support, and professional services, while a substantial portion of offerings reaches customers through channel partners.
Networking covers campuses, branches, data centers, and service-provider infrastructure through switches, routers, wireless systems, servers, silicon, optics, and cloud-managed software. Security adds network defense, identity and access, secure access, and threat detection; Splunk, ThousandEyes, and AppDynamics extend the portfolio into analytics and full-stack observability. Collaboration centers on Webex meetings, calling, contact centers, and devices.
Services span technical support, planning, design, implementation, and consulting. Revenue combines hardware, software licenses, SaaS, support, and professional services, with subscriptions recognized both upfront and over contract terms. The integrated architecture connects networking, security, observability, compute, and collaboration, while the Americas remains the largest sales region.
Serves enterprises, public institutions, governments, service providers, and large webscale customers worldwide. A substantial portion of offerings reaches customers through systems integrators, service providers, resellers, and distributors, making channel execution a structural dependency.
Company facts
Key statistics
Year to date +44.6% · Average volume (30d) 19.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 14, 2026 | HSBC | Downgrade | Buy | Hold | $137 | $120 |
| Aug 13, 2026 | Truist Financial | Target | $140 | |||
| Aug 13, 2026 | UBS | Reiterate | Buy | $132 | $138 | |
| Aug 13, 2026 | KeyBanc | Reiterate | Overweight | $130 | $135 | |
| Aug 13, 2026 | Wells Fargo | Reiterate | Overweight | $130 | $150 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026Q4 FY26 | $1.17 | $1.22 | +4.3% | $16.84B | $17.25B | +2.5% | −8.40% |
| May 13, 2026Q3 FY26 | $1.03 | $1.06 | +2.9% | $15.56B | $15.84B | +1.8% | +13.41% |
| Feb 11, 2026Q2 FY26 | $1.02 | $1.04 | +2.0% | $15.11B | $15.35B | +1.6% | −12.32% |
| Nov 12, 2025Q1 FY26 | $0.98 | $1.00 | +1.8% | $14.78B | $14.88B | +0.7% | +4.62% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $14.15B | $14.67B | $14.88B | $15.35B | $15.84B | $17.25B | |
| Gross profit | $9.28B | $9.28B | $9.75B | $9.97B | $10.08B | $11.06B | |
| Operating income | $3.20B | $3.09B | $3.36B | $3.78B | $3.96B | $4.26B | |
| Net income | $2.49B | $2.55B | $2.86B | $3.18B | $3.37B | $3.86B | |
| Diluted EPS | $0.62 | $0.64 | $0.72 | $0.79 | $0.85 | $0.97 | |
| Gross margin | 65.6% | 63.2% | 65.5% | 65.0% | 63.6% | 64.1% | |
| Operating margin | 22.6% | 21.0% | 22.6% | 24.6% | 25.0% | 24.7% |
Fiscal years (4-quarter sums)FY22 $51.56B · FY23 $57.00B · FY24 $53.80B · FY25 $56.65B · FY26 $63.33B
Revenue by product · Q3 FY26
Revenue by geography · Q3 FY26
Balance sheet, Jul 25, 2026Cash & short-term investments $15.92B · Total debt $29.53B · Total assets $129.64B · Shareholders' equity $50.29B
Dividends
Raised for 13 straight years — most recently to $0.42 from $0.41 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 6, 2026 | Jul 6 | Jul 22 | $0.42 | |
| Apr 2, 2026 | Apr 2 | Apr 22 | $0.42 | raised from $0.41 |
| Jan 2, 2026 | Jan 2 | Jan 21 | $0.41 | |
| Oct 3, 2025 | Oct 3 | Oct 22 | $0.41 | |
| Jul 3, 2025 | Jul 3 | Jul 23 | $0.41 | |
| Apr 3, 2025 | Apr 3 | Apr 23 | $0.41 | raised from $0.40 |
| Jan 3, 2025 | Jan 3 | Jan 22 | $0.40 | |
| Oct 2, 2024 | Oct 2 | Oct 23 | $0.40 |
Ownership
Shares outstanding 3.94B · Float 3.94B · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 358.67M | 9.10% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 244.79M | 6.21% | 13F | Aug 13, 2026 |
| State Street Corp | 197.15M | 5.00% | 13F | Aug 7, 2026 |
| Invesco Ltd. | 138.19M | 3.51% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 119.31M | 3.03% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Thimaya K. Subaiya | officer: EVP, Operations | −5,832 | $111.47 |
| Aug 14, 2026 | Jeetendra I. Patel | officer: President and CPO | −7,170 | $111.57 |
| Aug 14, 2026 | Deborah L. Stahlkopf | officer: EVP and Chief Legal Officer | −6,487 | $111.53 |
| Aug 14, 2026 | Mark Patterson | officer: EVP and CFO | −5,192 | $111.51 |
| Aug 14, 2026 | Oliver Tuszik | officer: EVP, Global Sales | −2,760 | $112.46 |
Peers
- Palo Alto Networks
NGFW and AI-SOC platform contesting Cisco's security portfolio at every layer.
- Arista Networks
Cloud-native EOS platform that overtook Cisco in data-center switch port share.
- Hewlett Packard Enterprise
Aruba-Juniper unit contests Cisco across enterprise, WLAN, and AI networking.
- Fortinet
#1 firewall by unit share; FortiOS NGFW and FortiSASE contest Cisco security.
- Microsoft
Teams displaces Webex in M365 shops; Sentinel contests Cisco Splunk SIEM.
- Datadog
Cloud-native observability platform contesting Cisco Splunk and AppDynamics.
- Zoom Communications
Video-first UCaaS platform and a direct Webex rival in enterprise meetings.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cisco Systems | $109.95 | +0.01% | $433.28B | 33.0 | 21.4 | 6.8 | +17.6% |
| Palo Alto Networks | $372.18 | +0.16% | $302.85B | 323.1 | 94.9 | 28.6 | +31.2% |
| Arista Networks | $195.38 | +0.01% | $246.02B | 61.6 | 42.0 | 23.3 | +37.7% |
| Hewlett Packard Enterprise | $52.56 | +0.50% | $69.26B | 49.8 | 13.4 | 1.8 | +40.0% |
| Fortinet | $165.78 | −0.16% | $121.80B | 58.5 | 47.4 | 16.2 | +25.6% |
| Microsoft | $513.06 | −0.06% | $3.81T | 28.6 | 26.2 | 11.5 | +17.8% |
| Datadog | $237.00 | +0.02% | $84.36B | 480.1 | 89.2 | 21.3 | +35.6% |
| Zoom Communications | $98.29 | −0.11% | $28.86B | 9.1 | 16.1 | 5.8 | +4.9% |
| Median | 58.5 | 42.0 | 16.2 | +31.2% |