CISCO SYSTEMS, INC.
CSCO · Computer Communications Equipment · 3.94B shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $1.9B (gross $4.3B, SBC $2.4B)
Reference price $119.69 · est. market cap ~$471.8B — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Networking giant with strong margins and enormous free cash flow; modest growth keeps it just shy of A.
Strengths
- Enormous free cash flow — FCF $13.29B (98th), FCF margin 23.5%
- Strong margins and returns — operating margin 20.8% (84th), net margin 18.0% (82nd), ROE 21.7% (76th)
- Durable enterprise franchise (incl. Splunk/security mix) — qualitative (per 10-K)
Risks
- Modest growth — revenue +5.3% (28th), net income -1.4%
- Tight liquidity — current ratio 1.00 (13th)
- Networking-cycle and distribution-channel risk per risk factors — qualitative (per 10-K)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Weak liquidityCurrent ratio 1.00 (<1)
- Customer concentration~18% of revenue from one customer/distributor — 3) pts Net income $ 2,550 $ 2,162 18 % $ 10,180 $ 10,320 (1) % Net income as a percentage of revenue 17
- Buying back stockNet buyback — share count -2%/yr over 4y
- Strong balance sheetStrong balance sheet — $16.1B cash & investments
- Insider sellingInsider selling — 46 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$12M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
64.9%
Operating margin
20.8%
Net margin
18.0%
Return on equity
21.7%
Return on assets
8.3%
ROIC
12.4%
Revenue growth (QoQ)
3.2%
Net-income growth
-1.4%
Debt / equity
0.6×
Net debt / EBITDA
1.0×
Current ratio
1.0×
Free cash flow
$13.3B
EBITDA
$12.5B
Tangible book value
-$21.5B
Cash & investments
$16.1B
Stock comp / revenue
6.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Subaiya Thimaya K. | Sell | 5.2K | $119.69 |
| 2026-06-16 | Subaiya Thimaya K. | Sell | 1.9K | $120.51 |
| 2026-06-15 | Weil Kevin | Grant | 251 | $120.17 |
| 2026-06-15 | JOHNSON KRISTINA M | Grant | 351 | $120.17 |
| 2026-06-15 | Tessel Marianna | Grant | 251 | $120.17 |
| 2026-06-11 | Tuszik Oliver | Sell | 100 | $122.44 |
| 2026-06-11 | Tuszik Oliver | Sell | 400 | $119.59 |
| 2026-06-11 | Patterson Mark | Sell | 1.1K | $117.60 |
| 2026-06-11 | Patterson Mark | Sell | 1.6K | $118.36 |
| 2026-06-11 | Patterson Mark | Sell | 1.1K | $120.44 |
| 2026-06-11 | Patterson Mark | Sell | 851 | $119.44 |
| 2026-06-11 | Patterson Mark | Sell | 2.5K | $121.75 |
| 2026-06-11 | Patterson Mark | Sell | 200 | $122.39 |
| 2026-06-11 | Tuszik Oliver | Sell | 700 | $120.51 |
| 2026-06-11 | Tuszik Oliver | Sell | 1.4K | $121.77 |
| 2026-06-10 | Subaiya Thimaya K. | Tax withheld | 1.7K | $120.36 |
| 2026-06-10 | Tuszik Oliver | Tax withheld | 5.5K | $120.36 |
| 2026-06-10 | Patterson Mark | Tax withheld | 6.4K | $120.36 |
| 2026-06-03 | Fink Nichlas A | Grant | 4.5K | — |
| 2026-05-22 | Robbins Charles | Sell | 500 | $118.48 |
| 2026-05-22 | Robbins Charles | Sell | 8.0K | $119.58 |
| 2026-05-22 | Robbins Charles | Sell | 13K | $120.37 |
| 2026-05-15 | Patterson Mark | Sell | 1.5K | $116.65 |
| 2026-05-15 | Tuszik Oliver | Sell | 2.8K | $114.61 |
| 2026-05-15 | Stahlkopf Deborah L | Sell | 300 | $114.97 |
| 2026-05-15 | Stahlkopf Deborah L | Sell | 1.1K | $116.42 |
| 2026-05-15 | Stahlkopf Deborah L | Sell | 2.8K | $117.24 |
| 2026-05-15 | Stahlkopf Deborah L | Sell | 2.3K | $118.10 |
| 2026-05-15 | Patterson Mark | Sell | 300 | $115.08 |
| 2026-05-15 | Patterson Mark | Sell | 2.0K | $117.34 |
| 2026-05-15 | Patterson Mark | Sell | 1.7K | $118.16 |
| 2026-05-15 | Patel Jeetendra I | Sell | 200 | $114.62 |
| 2026-05-15 | Patel Jeetendra I | Sell | 351 | $115.89 |
| 2026-05-15 | Patel Jeetendra I | Sell | 3.1K | $116.87 |
| 2026-05-15 | Patel Jeetendra I | Sell | 3.5K | $117.95 |
| 2026-05-10 | Wong Maria Victoria | Tax withheld | 1.3K | $96.57 |
| 2026-05-10 | Subaiya Thimaya K. | Tax withheld | 7.6K | $96.57 |
| 2026-05-10 | Tuszik Oliver | Tax withheld | 3.1K | $96.57 |
| 2026-05-10 | Stahlkopf Deborah L | Tax withheld | 4.1K | $96.57 |
| 2026-05-10 | Robbins Charles | Tax withheld | 16K | $96.57 |
| 2026-05-10 | Patterson Mark | Tax withheld | 3.6K | $96.57 |
| 2026-05-10 | Patel Jeetendra I | Tax withheld | 9.4K | $96.57 |
| 2026-04-10 | Tuszik Oliver | Tax withheld | 2.3K | $83.17 |
| 2026-04-06 | Shimer Peter A | Grant | 2.3K | — |
| 2026-03-20 | Patterson Mark | Sell | 2.5K | $78.26 |
| 2026-03-20 | Patterson Mark | Sell | 2.4K | $77.68 |
| 2026-03-18 | Tuszik Oliver | Sell | 3.1K | $79.74 |
| 2026-03-17 | Stahlkopf Deborah L | Sell | 8.0K | $79.50 |
| 2026-03-16 | Weil Kevin | Grant | 383 | $78.90 |
| 2026-03-16 | JOHNSON KRISTINA M | Grant | 383 | $78.90 |
| 2026-03-16 | Tessel Marianna | Grant | 383 | $78.90 |
| 2026-03-12 | Subaiya Thimaya K. | Sell | 1.7K | $77.07 |
| 2026-03-11 | Wong Maria Victoria | Sell | 551 | $77.54 |
| 2026-03-10 | Subaiya Thimaya K. | Tax withheld | 1.7K | $76.21 |
| 2026-03-10 | Wong Maria Victoria | Tax withheld | 299 | $76.21 |
| 2026-02-24 | Wong Maria Victoria | Sell | 2.2K | $77.74 |
| 2026-02-19 | Subaiya Thimaya K. | Sell | 8.4K | $78.50 |
| 2026-02-19 | Subaiya Thimaya K. | Sell | 1.8K | $79.05 |
| 2026-02-13 | Patel Jeetendra I | Sell | 900 | $74.89 |
| 2026-02-13 | Patel Jeetendra I | Sell | 1.1K | $76.05 |
| 2026-02-13 | Patel Jeetendra I | Sell | 6.5K | $76.92 |
| 2026-02-13 | Robbins Charles | Sell | 4.8K | $74.12 |
| 2026-02-13 | Robbins Charles | Sell | 1.3K | $74.85 |
| 2026-02-13 | Robbins Charles | Sell | 2.1K | $76.03 |
| 2026-02-13 | Robbins Charles | Sell | 11K | $76.92 |
| 2026-02-13 | Wong Maria Victoria | Sell | 51 | $74.24 |
| 2026-02-13 | Patel Jeetendra I | Sell | 2.7K | $74.12 |
| 2026-02-10 | Subaiya Thimaya K. | Tax withheld | 6.7K | $86.78 |
| 2026-02-10 | Wong Maria Victoria | Tax withheld | 1.2K | $86.78 |
| 2026-02-10 | Tuszik Oliver | Tax withheld | 3.7K | $86.78 |
| 2026-02-10 | Stahlkopf Deborah L | Tax withheld | 2.6K | $86.78 |
| 2026-02-10 | Robbins Charles | Tax withheld | 11K | $86.78 |
| 2026-02-10 | Patterson Mark | Tax withheld | 1.8K | $86.78 |
| 2026-02-10 | Patel Jeetendra I | Tax withheld | 7.7K | $86.78 |
| 2026-01-10 | Tuszik Oliver | Tax withheld | 2.1K | $73.88 |
| 2025-12-19 | Murphy Sarah Rae | Gift | 3.5K | — |
| 2025-12-19 | GARRETT MARK | Gift | 3.5K | — |
| 2025-12-19 | Murphy Sarah Rae | Gift | 3.5K | — |
| 2025-12-19 | CAPELLAS MICHAEL D | Sell | 11K | $77.13 |
| 2025-12-19 | GARRETT MARK | Gift | 3.5K | — |
| 2025-12-18 | JOHNSON KRISTINA M | Sell | 13K | $77.13 |
| 2025-12-18 | CAPELLAS MICHAEL D | Sell | 16K | $77.28 |
| 2025-12-16 | Weil Kevin | Grant | 3.5K | — |
| 2025-12-16 | Tessel Marianna | Grant | 3.5K | — |
| 2025-12-16 | SCHULMAN DANIEL H | Grant | 3.5K | — |
| 2025-12-16 | CAPELLAS MICHAEL D | Grant | 3.5K | — |
| 2025-12-16 | BUSH WESLEY G | Grant | 438 | $77.55 |
| 2025-12-16 | JOHNSON KRISTINA M | Grant | 3.5K | — |
| 2025-12-16 | Murphy Sarah Rae | Grant | 3.5K | — |
| 2025-12-16 | HARRIS JOHN D | Grant | 3.5K | — |
| 2025-12-16 | GARRETT MARK | Grant | 3.5K | — |
| 2025-12-16 | Weil Kevin | Grant | 390 | $77.55 |
| 2025-12-12 | Subaiya Thimaya K. | Sell | 1.7K | $79.46 |
| 2025-12-11 | Wong Maria Victoria | Sell | 428 | $80.33 |
| 2025-12-10 | Subaiya Thimaya K. | Tax withheld | 1.7K | $79.51 |
| 2025-12-10 | Wong Maria Victoria | Tax withheld | 421 | $79.51 |
| 2025-11-24 | Wong Maria Victoria | Sell | 9.7K | $76.37 |
| 2025-11-24 | Wong Maria Victoria | Sell | 100 | $76.86 |
| 2025-11-21 | Patterson Mark | Tax withheld | 2.6K | $76.10 |
| 2025-11-21 | Robbins Charles | Tax withheld | 6.0K | $76.10 |
| 2025-11-21 | Wong Maria Victoria | Tax withheld | 459 | $76.10 |
| 2025-11-20 | Tuszik Oliver | Sell | 13K | $79.21 |
| 2025-11-19 | Subaiya Thimaya K. | Sell | 16K | $77.90 |
| 2025-11-19 | Subaiya Thimaya K. | Sell | 40K | $78.50 |
| 2025-11-18 | Patterson Mark | Sell | 49K | $77.16 |
| 2025-11-18 | Patterson Mark | Sell | 20K | $77.63 |
| 2025-11-18 | Robbins Charles | Sell | 34K | $77.63 |
| 2025-11-18 | Robbins Charles | Sell | 83K | $77.17 |
| 2025-11-17 | Stahlkopf Deborah L | Sell | 20 | $77.98 |
| 2025-11-17 | Robbins Charles | Sell | 131K | $78.95 |
| 2025-11-17 | Robbins Charles | Sell | 151K | $77.83 |
| 2025-11-17 | Tuszik Oliver | Sell | 15 | $77.98 |
| 2025-11-14 | Patel Jeetendra I | Sell | 16K | $76.59 |
| 2025-11-14 | Tuszik Oliver | Sell | 5.4K | $76.56 |
| 2025-11-14 | Stahlkopf Deborah L | Sell | 16K | $76.59 |
| 2025-11-14 | Stahlkopf Deborah L | Sell | 38K | $77.38 |
| 2025-11-14 | Stahlkopf Deborah L | Sell | 111K | $78.20 |
| 2025-11-14 | Patel Jeetendra I | Sell | 37K | $77.37 |
| 2025-11-14 | Patel Jeetendra I | Sell | 111K | $78.20 |
| 2025-11-14 | Robbins Charles | Sell | 21K | $76.58 |
| 2025-11-14 | Robbins Charles | Sell | 51K | $77.37 |
| 2025-11-14 | Robbins Charles | Sell | 132K | $78.20 |
| 2025-11-10 | Patterson Mark | Grant | 74K | — |
| 2025-11-10 | Patel Jeetendra I | Tax withheld | 161K | $71.07 |
| 2025-11-10 | Patterson Mark | Tax withheld | 45K | $71.07 |
| 2025-11-10 | Robbins Charles | Grant | 960K | — |
| 2025-11-10 | Robbins Charles | Tax withheld | 487K | $71.07 |
| 2025-11-10 | Patel Jeetendra I | Grant | 256K | — |
| 2025-11-10 | Stahlkopf Deborah L | Grant | 259K | — |
| 2025-11-10 | Stahlkopf Deborah L | Tax withheld | 120K | $71.07 |
| 2025-11-10 | Subaiya Thimaya K. | Grant | 61K | — |
| 2025-11-10 | Subaiya Thimaya K. | Tax withheld | 55K | $71.07 |
| 2025-11-10 | Tuszik Oliver | Grant | 59K | — |
| 2025-11-10 | Tuszik Oliver | Tax withheld | 41K | $71.07 |
| 2025-11-10 | Wong Maria Victoria | Grant | 9.5K | — |
| 2025-11-10 | Wong Maria Victoria | Tax withheld | 9.6K | $71.07 |
| 2025-10-10 | Tuszik Oliver | Tax withheld | 2.1K | $69.96 |
| 2025-09-19 | Tuszik Oliver | Sell | 14K | $67.84 |
| 2025-09-19 | Tuszik Oliver | Sell | 3.3K | $68.42 |
| 2025-09-16 | Tuszik Oliver | Grant | 60K | — |
| 2025-09-16 | Wong Maria Victoria | Grant | 13K | — |
| 2025-09-16 | Subaiya Thimaya K. | Grant | 71K | — |
| 2025-09-16 | Stahlkopf Deborah L | Grant | 64K | — |
| 2025-09-16 | Robbins Charles | Grant | 190K | — |
| 2025-09-16 | Patterson Mark | Grant | 90K | — |
| 2025-09-16 | Patel Jeetendra I | Grant | 112K | — |
| 2025-09-15 | BUSH WESLEY G | Grant | 550 | $67.02 |
| 2025-09-15 | Weil Kevin | Grant | 407 | $67.02 |
| 2025-09-12 | Subaiya Thimaya K. | Sell | 1.7K | $66.78 |
| 2025-09-11 | Wong Maria Victoria | Sell | 428 | $68.25 |
| 2025-09-11 | Stahlkopf Deborah L | Sell | 2.6K | $68.07 |
| 2025-09-11 | Stahlkopf Deborah L | Sell | 100 | $68.54 |
| 2025-09-10 | Stahlkopf Deborah L | Tax withheld | 1.8K | $67.34 |
| 2025-09-10 | Wong Maria Victoria | Tax withheld | 421 | $67.34 |
| 2025-09-10 | Subaiya Thimaya K. | Tax withheld | 1.7K | $67.34 |
| 2025-08-25 | Wong Maria Victoria | Sell | 3.2K | $67.28 |
| 2025-08-20 | Subaiya Thimaya K. | Sell | 7.5K | $66.84 |
| 2025-08-19 | Patterson Mark | Sell | 7.2K | $66.98 |
| 2025-08-15 | Patel Jeetendra I | Sell | 3.1K | $67.21 |
| 2025-08-15 | Patel Jeetendra I | Sell | 200 | $68.20 |
| 2025-08-15 | Robbins Charles | Sell | 18K | $66.19 |
| 2025-08-15 | Robbins Charles | Sell | 11K | $67.20 |
| 2025-08-15 | Robbins Charles | Sell | 987 | $68.47 |
| 2025-08-15 | Stahlkopf Deborah L | Sell | 6.2K | $66.21 |
| 2025-08-15 | Stahlkopf Deborah L | Sell | 3.4K | $67.21 |
| 2025-08-15 | Stahlkopf Deborah L | Sell | 200 | $68.20 |
| 2025-08-15 | Wong Maria Victoria | Sell | 475 | $68.61 |
| 2025-08-15 | Patel Jeetendra I | Sell | 5.8K | $66.21 |
| 2025-08-10 | Wong Maria Victoria | Tax withheld | 2.3K | $71.79 |
| 2025-08-10 | Stahlkopf Deborah L | Tax withheld | 6.3K | $71.79 |
| 2025-08-10 | Robbins Charles | Tax withheld | 23K | $71.79 |
| 2025-08-10 | Patel Jeetendra I | Tax withheld | 8.9K | $71.79 |
| 2025-08-10 | Patterson Mark | Tax withheld | 4.7K | $71.79 |
| 2025-08-10 | Tuszik Oliver | Tax withheld | 4.6K | $71.79 |
| 2025-08-10 | Subaiya Thimaya K. | Tax withheld | 6.9K | $71.79 |
| 2025-07-10 | Tuszik Oliver | Tax withheld | 2.1K | $69.27 |
| 2025-06-17 | Herren Richard Scott | Sell | 15K | $65.51 |
| 2025-06-17 | Herren Richard Scott | Sell | 200 | $66.08 |
| 2025-06-17 | Subaiya Thimaya K. | Sell | 200 | $66.11 |
| 2025-06-17 | Subaiya Thimaya K. | Sell | 8.5K | $65.52 |
| 2025-06-16 | Weil Kevin | Grant | 148 | $65.51 |
| 2025-06-16 | BUSH WESLEY G | Grant | 580 | $65.51 |
| 2025-06-12 | Stahlkopf Deborah L | Sell | 290 | $64.27 |
| 2025-06-12 | Patel Jeetendra I | Sell | 899 | $64.27 |
| 2025-06-11 | Wong Maria Victoria | Sell | 762 | $64.07 |
| 2025-06-11 | Stahlkopf Deborah L | Sell | 2.4K | $64.01 |
| 2025-06-10 | Stahlkopf Deborah L | Tax withheld | 1.8K | $65.90 |
| 2025-06-10 | Subaiya Thimaya K. | Tax withheld | 1.7K | $65.90 |
| 2025-06-10 | Wong Maria Victoria | Tax withheld | 404 | $65.90 |
| 2025-06-10 | Patel Jeetendra I | Tax withheld | 886 | $65.90 |
| 2025-06-05 | Robbins Charles | Sell | 30K | $64.61 |
| 2025-06-05 | Tuszik Oliver | Grant | 31K | — |
| 2025-05-28 | Tuszik Oliver | Sell | 15K | $63.53 |
| 2025-05-28 | Wong Maria Victoria | Sell | 4.2K | $63.51 |
| 2025-05-27 | Tuszik Oliver | Tax withheld | 7.4K | $63.11 |
| 2025-05-16 | Patel Jeetendra I | Sell | 10.0K | $63.97 |
| 2025-05-16 | Stahlkopf Deborah L | Sell | 9.6K | $63.50 |
| 2025-05-12 | Weil Kevin | Grant | 2.3K | — |
| 2025-05-10 | Subaiya Thimaya K. | Tax withheld | 6.9K | $59.77 |
| 2025-05-10 | Wong Maria Victoria | Tax withheld | 1.9K | $59.77 |
| 2025-05-10 | Tuszik Oliver | Tax withheld | 3.8K | $59.77 |
| 2025-05-10 | Stahlkopf Deborah L | Tax withheld | 6.4K | $59.77 |
| 2025-05-10 | Robbins Charles | Tax withheld | 23K | $59.77 |
| 2025-05-10 | Herren Richard Scott | Tax withheld | 13K | $59.77 |
| 2025-03-17 | BUSH WESLEY G | Grant | 624 | $60.89 |
| 2025-03-12 | Subaiya Thimaya K. | Sell | 2.1K | $60.70 |
| 2025-03-12 | Stahlkopf Deborah L | Sell | 2.9K | $60.71 |
| 2025-03-12 | Wong Maria Victoria | Sell | 762 | $60.99 |
| 2025-03-10 | Stahlkopf Deborah L | Tax withheld | 1.6K | $63.94 |
| 2025-03-10 | Wong Maria Victoria | Tax withheld | 403 | $63.94 |
| 2025-03-10 | Subaiya Thimaya K. | Tax withheld | 1.4K | $63.94 |
| 2025-02-26 | Wong Maria Victoria | Sell | 3.5K | $63.96 |
| 2025-02-21 | Stahlkopf Deborah L | Sell | 12K | $64.36 |
| 2025-02-21 | Stahlkopf Deborah L | Sell | 200 | $64.94 |
| 2025-02-20 | Subaiya Thimaya K. | Sell | 9.0K | $64.52 |
| 2025-02-14 | Robbins Charles | Sell | 16K | $64.01 |
| 2025-02-14 | Robbins Charles | Sell | 16K | $64.81 |
| 2025-02-14 | Herren Richard Scott | Sell | 9.7K | $64.00 |
| 2025-02-14 | Herren Richard Scott | Sell | 10K | $64.80 |
| 2025-02-10 | Wong Maria Victoria | Tax withheld | 2.0K | $62.27 |
| 2025-02-10 | Subaiya Thimaya K. | Tax withheld | 4.9K | $62.27 |
| 2025-02-10 | Stahlkopf Deborah L | Tax withheld | 4.1K | $62.27 |
| 2025-02-10 | Robbins Charles | Tax withheld | 21K | $62.27 |
| 2025-02-10 | Herren Richard Scott | Tax withheld | 12K | $62.27 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (2)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-13 | Results2.05Exhibits | filing ↗ |
| 2026-05-01 | Exec/director change | filing ↗ |
| 2026-04-06 | Exec/director change | filing ↗ |
| 2026-02-11 | ResultsExhibits | filing ↗ |
| 2025-12-17 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2025-11-12 | ResultsExhibits | filing ↗ |
| 2025-10-17 | Exec/director change | filing ↗ |
| 2025-08-25 | 5.03Exhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-19 | 2026-04-25 | 0000858877-26-000078 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0000858877-26-000075 ↗ |
| 8-K | 2026-05-01 | 2026-04-27 | 0000858877-26-000057 ↗ |
| 8-K | 2026-04-06 | 2026-03-31 | 0000858877-26-000048 ↗ |
| 10-Q | 2026-02-17 | 2026-01-24 | 0000858877-26-000021 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0000858877-26-000006 ↗ |
| 8-K | 2025-12-17 | 2025-12-16 | 0000858877-25-000199 ↗ |
| 10-Q | 2025-11-18 | 2025-10-25 | 0000858877-25-000171 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001193125-25-277624 ↗ |
| 8-K | 2025-10-17 | 2025-10-15 | 0000858877-25-000145 ↗ |
| 10-K | 2025-09-03 | 2025-07-26 | 0000858877-25-000111 ↗ |
| 8-K | 2025-08-25 | 2025-08-21 | 0000858877-25-000103 ↗ |