Cisco Systems, Inc. designs, develops, and sells technologies that help to power, secure, and draw insights from the internet in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company offers data center switching; network security, identity and access management, and secure access service edge; threat intelligence, detection, and response solutions; interconnects public and private wireline and mobile networks, delivering connectivity to campus, data center, and branch networks; WEBEX suite, collaboration devices, and contact center; communication platform as a service software, including perpetual licenses, subscription arrangements, and hardware solutions; network assurance, monitoring and analytics, and observability suite; issue resolution, software support, and hardware replacement; professional services, such as planning, design, implementation, and high-value consulting; service and support packages, financing, and managed network services; and regional, national, and international wireline carriers, webscale products, internet, and cable. It also delivers connectivity to campus, data center, and branch networks; wireless products, including indoor and outdoor wireless coverage designed for seamless roaming use of voice, video, and data applications; end-to-end collaboration solutions through cloud, on-premise, or within hybrid cloud environments, transition collaboration solutions from on-premise to the cloud; and network assurance, monitoring and analytics, and observability suite. In addition, it offers technical support and advisory services. The company serves businesses, public institutions, governments, and service providers. It sells its products and services directly, through systems integrators, service providers, resellers, and distributors. Cisco Systems, Inc. was incorporated in 1984 and is headquartered in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $56.7B | $15.5B | $10.2B | $13.3B | 21.7% | 5.3% | -1.4% |
| 2024 | $53.8B | $15.7B | $10.3B | $10.2B | 22.7% | -5.6% | -18.2% |
| 2023 | $57.0B | $17.5B | $12.6B | $19.0B | 28.4% | 10.6% | 6.8% |
| 2022 | $51.6B | $16.8B | $11.8B | $12.7B | 29.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 51,557 | 56,998 | 53,803 | 56,654 |
| Cost Of Revenue | 19,309 | 21,245 | 18,975 | 19,864 |
| Gross Profit | 32,248 | 35,753 | 34,828 | 36,790 |
| Operating Expense | 18,273 | 20,191 | 21,858 | 24,286 |
| Operating Income | 13,975 | 15,562 | 12,970 | 12,504 |
| EBITDA | 16,794 | 17,471 | 15,747 | 15,504 |
| EBIT | 14,837 | 15,745 | 13,240 | 12,693 |
| Pretax Income | 14,477 | 15,318 | 12,234 | 11,100 |
| Tax Provision | 2,665 | 2,705 | 1,914 | 920 |
| Net Income | 11,812 | 12,613 | 10,320 | 10,180 |
| Net Income Common Stockholders | 11,812 | 12,613 | 10,320 | 10,180 |
| Total Expenses | 37,582 | 41,436 | 40,833 | 44,150 |
| Interest Expense | 360 | 427 | 1,006 | 1,593 |
| Interest Income | 476 | 962 | 1,365 | 1,001 |
| Research And Development | 6,774 | 7,551 | 7,983 | 9,300 |
| Selling General And Administration | 11,186 | 12,358 | 13,177 | 13,958 |
| Normalized EBITDA | 16,343 | 18,179 | 16,702 | 16,166 |
| Normalized Income | 11,443.98 | 13,195.68 | 11,126.02 | 10,787.05 |
| Market Cap | 351,580 | 351,580 | 351,580 | 351,580 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cisco Systems, Inc.this co. | CSCO | $344.5B | 34.54β discount | 7.51 | 21.7% | 23.95 |
| Oracle Corporation | ORCL | $483.5B | 40.05 | 24.37 | 60.8% | 24.74 |
| Lam Research Corporation | LRCX | $343.8B | 62.50 | 33.96 | 54.3% | 51.05 |
| Palantir Technologies Inc. | PLTR | $336.9B | 210.60 | 46.33 | 22.0% | 236.80 |
| Applied Materials, Inc. | AMAT | $335.0B |
| 47.29 |
| 16.21 |
| 34.3% |
| 33.16 |
| Arm Holdings plc | ARM | $300.0B | 314.86 | 36.46 | 11.6% | 244.22 |
| Texas Instruments Incorporated | TXN | $251.9B | 50.43 | 15.50 | 30.7% | 31.87 |
| Arista Networks, Inc. | ANET | $222.6B | 63.44 | 18.01 | 28.4% | - |
| International Business Machines Corporation | IBM | $216.1B | 20.58 | 6.68 | 32.4% | 15.57 |
| Peer Median | - | 56.46 | 21.19 | 31.6% | 33.16 | |