Cisco Systems, Inc. (CSCO) - Company Research

Last Updated: 3 May 2026

Cisco Systems, Inc. (NASDAQ: CSCO) is the world's largest enterprise networking vendor and a Dow 30 / S&P 500 / Nasdaq-100 constituent. Following the $28 bn Splunk acquisition (closed 18 March 2024), Cisco has repositioned itself as the critical infrastructure layer for the AI era — spanning Networking, Security, Collaboration and Observability. Q2 FY26 (quarter ended 24 January 2026) revenue was a record $15.3 bn (+10% YoY) with non-GAAP EPS $1.04 (+11%); Networking revenue $8.3 bn (+21%) and AI infrastructure orders from hyperscalers reached $2.1 bn in the quarter alone — matching the entire FY25 total — on top of $1.3 bn in Q1. Management lifted FY26 revenue guidance to $61.2–$61.7 bn and now expects to take >$5.0 bn of AI infrastructure orders and recognise >$3.0 bn of AI infrastructure revenue from hyperscalers in FY26. On 9 April 2026 Cisco announced its intent to acquire AI-observability platform Galileo Technologies (closing expected Q4 FY26) to extend Splunk Observability Cloud's agent-monitoring capabilities. Q3 FY26 results are due Wednesday 13 May 2026 after market close. The next quarterly dividend of $0.42 was paid 22 April 2026 (ex-div 2 April 2026). On 1 May 2026 the stock closed at $92.92 — a fresh 52-week (and multi-year) high. For live pricing see our live charts, upcoming releases on the economic calendar, and discussion on the ChartsView forum.

1. Company Snapshot

Company	Cisco Systems, Inc.
Ticker	NASDAQ: CSCO (Dow 30, S&P 500, Nasdaq-100)
Sector / Industry	Technology / Communications Equipment / Enterprise Networking & Security
HQ	170 West Tasman Drive, San Jose, CA 95134, USA
Chair & CEO	Charles "Chuck" Robbins (CEO since 26 July 2015; Chair since December 2017)
EVP & CFO	R. Scott Herren
President, Networking	Jeetu Patel (Chief Product Officer; expanded role post-Splunk)
Founded	December 1984 (incorporated 10 December 1984; IPO 1990)
Employees	~90,000 globally (per FY25 10-K, after FY24 restructurings of ~9,600 roles and the Splunk integration; ongoing reallocation toward AI/silicon)
Fiscal year end	Last Saturday of July (FY25 ended 26 July 2025; FY26 ends ~25 July 2026)
Share price (1 May 2026 close)	$92.92 (52-week high reached same day)
52-week range	$58.58 (low, 2025) — $92.92 (high, 1 May 2026)
Market cap (1 May 2026)	~$362.8 bn
Enterprise value	~$378.8 bn
FY25 revenue / non-GAAP op margin	$56.7 bn (+5%) / FY25 non-GAAP gross margin 67.6%
Q2 FY26 revenue	$15.3 bn (+10% YoY; record quarter)
Total ARR / Total RPO (Q2 FY26)	$31.0 bn (+3%) / $43.4 bn (+5%; product RPO +8%)
AI infrastructure orders (FY26 YTD H1)	$3.4 bn from hyperscalers (Q1 $1.3 bn + Q2 $2.1 bn); FY26 target raised to >$5.0 bn
Quarterly dividend	$0.42 (raised 2% from $0.41 in Feb 2026); $1.68 annualised; ex-div 2 Apr 2026, paid 22 Apr 2026
Buyback authorisation remaining	~$17 bn (after $15 bn top-up announced Feb 2025)
Website	cisco.com / investor.cisco.com

2. Bull Case vs Bear Case

Bull Case	Bear Case
AI infrastructure inflection: $2.1 bn hyperscaler AI orders in Q2 FY26 alone — matched the full FY25 total ($2 bn). Management raised FY26 AI order target above $5 bn and now expects >$3 bn of AI infrastructure revenue recognised from hyperscalers in FY26.	Arista Networks took the data-center Ethernet switch crown from Cisco in late 2024 / 2025 and continues to grow Ethernet switch revenue +27% YoY; NVIDIA passed both Cisco and Arista in datacentre Ethernet sales in 2025 thanks to Spectrum-X integration with its GPUs.
Networking re-acceleration: Networking revenue +21% YoY in Q2 FY26 to $8.3 bn; product orders +18% YoY (networking orders >20%); Splunk integrated into XDR / Hypershield / AI Defense / Multicloud Defense for an end-to-end AI security platform.	Security segment volatility: revenue −4% YoY in Q2 FY26 and −2% in Q1 FY26 as Splunk customers shift from on-premise to cloud subscriptions — management said the on-prem-to-cloud transition will continue to drag through H2 FY26.
NVIDIA partnership deepening: Cisco Secure AI Factory with NVIDIA expanded at NVIDIA GTC March 2026; Hypershield runs on Silicon One + NVIDIA BlueField DPUs; Cisco-NVIDIA joint engagements +70% sequentially.	Microsoft Teams continues to outpace Webex in collaboration; Webex held ~5–9% of the global web-conferencing market in 2025 vs Teams at ~23% and Zoom at ~28%.
Capital return at scale: $0.42 quarterly dividend (43rd consecutive year of payments since 2011); ~$17 bn buyback authorisation remaining after Feb-2025 $15 bn top-up; 18 m shares bought back in Q2 FY26 alone at $76.29 average for $1.4 bn; $3.0 bn returned to shareholders in Q2 FY26.	Headline growth depends on AI: if AI hyperscaler orders normalise after the FY26 ramp, the underlying enterprise networking + Splunk business is growing single-digits; FY25 organic growth was +5% with Splunk now in the comparable base.
Silicon One scaling: G200 (51.2 Tbps, 5 nm) shipping; G300 (102.4 Tbps) announced February 2026 for agentic-era AI clusters; Silicon One adopted by multiple top-5 hyperscalers for AI training/inference fabrics.	Stock at fresh 52-week high $92.92 (1 May 2026) up ~59% over the trailing 12 months; trailing P/E 33, EV/EBITDA 23 — valuation has caught up to the AI-infrastructure story ahead of the Q3 FY26 print on 13 May.
Galileo acquisition (announced 9 April 2026, closing Q4 FY26) plugs AI agent observability into Splunk Observability Cloud — a strategic capability layer as enterprises move from AI pilots to production agentic systems.	Cumulative restructurings: ~4,000 roles cut in February 2024, ~5,600 in August 2024 (~7% of headcount across that year), plus targeted reductions through 2025/2026 (incl. 221 Milpitas/SF roles October 2025) signal continued cost reshaping.

3. What Does This Company Actually Do?

Cisco designs, manufactures and sells networking, security, collaboration and observability hardware, software and services to enterprises, service providers and governments worldwide. Following the Splunk acquisition (closed 18 March 2024 for $28 bn / $157 per share — the largest deal in Cisco's history), the portfolio is grouped into four product categories plus services.

Q2 FY26 revenue mix by product category ($ billions, share of total):

• Networking — $8.3 bn (~54.2% of total / ~71.5% of product); +21% YoY. Includes campus & data centre switching (Catalyst, Nexus), routing, wireless (Meraki, Catalyst Wi-Fi), Silicon One ASICs, AI/ML PODs and optics.
• Security — $2.0 bn (~13.1% of total / ~17.2% of product); −4% YoY due to Splunk on-prem-to-cloud subscription transition. Includes Splunk SIEM/SOAR, XDR, Secure Access (SSE), Hybrid Mesh Firewall (Secure Firewall 6100/220 series), Hypershield, AI Defense, Talos.
• Collaboration — $1.1 bn (~7.2% of total / ~9.5% of product); +6% YoY. Webex Suite, Webex Calling, contact center, devices.
• Observability — $277 m (~1.8% of total / ~2.4% of product); flat YoY. Splunk Observability Cloud, AppDynamics, ThousandEyes.
• Services — $3.7 bn (~24.2% of total); −1% YoY. Technical services, software/solution support, advisory, training.

Geographic mix (Q2 FY26): Americas $8.8 bn (~57.5%, +8% YoY); EMEA $4.4 bn (~28.8%, +15% YoY — led by AI build-outs); APJC (Asia-Pacific, Japan and China) $2.1 bn (~13.7%, +8% YoY). Product/services split: Product $11.6 bn (~75.8%, +14% YoY); Services $3.7 bn (~24.2%, −1% YoY). Recurring revenue: total ARR $31.0 bn (+3%), product ARR +6%; Total RPO $43.4 bn (+5%), product RPO +8%, long-term product RPO $11.8 bn (+11%).

4. The Business Model

Cisco operates a hybrid hardware-plus-software-plus-services model that has been steadily shifting toward subscription. Roughly $31 bn (~55% of FY25 revenue run-rate) is now annualised recurring revenue. Networking hardware (switches, routers, wireless APs, optics) is sold to enterprises, service providers and hyperscalers, increasingly bundled with software subscriptions (DNA Center, Catalyst Center, Meraki cloud) and services (technical support, managed services, advisory). Splunk and Webex are pure SaaS / subscription. Security is a hybrid of appliances + software subscriptions.

• Margins: Q2 FY26 GAAP gross margin 65.0%, non-GAAP gross margin 67.5%; Q2 FY26 GAAP operating margin 24.6%, non-GAAP operating margin 34.6%. FY25 non-GAAP gross margin was 67.6% — a multi-decade record helped by software mix and Splunk accretion.
• Moat: very high enterprise switching costs (network gear has 5–10-year refresh cycles tied to certifications, support contracts, training); installed base estimated at hundreds of thousands of enterprise customers; Cisco Certified Internetwork Expert (CCIE) ecosystem creates a captive talent pool.
• Capital return: dividend raised 2% to $0.42 in Feb 2026 (annualised $1.68); $15 bn buyback authorisation top-up Feb 2025 leaving ~$17 bn remaining; in Q2 FY26 alone Cisco repurchased 18 m shares at $76.29 average ($1.4 bn) and returned $3.0 bn total to shareholders.
• Splunk monetisation: Splunk reached 500 new logos in H1 FY26 (on track for ~1,000 in FY26); Splunk ARR and product RPO growing double digits; one of Splunk's largest-ever deals closed in Q1 FY26 with joint Cisco-Splunk sales motion.

Subsidy / regulatory credit dependency: Cisco does not have a material reliance on government subsidies, tax credits or regulatory credits as direct revenue sources. The company is a beneficiary of indirect tailwinds from US Rural Digital Opportunity Fund, BEAD broadband programmes, and CHIPS-Act-funded fab buildouts that drive customer infrastructure spend — but these are not booked as Cisco revenue or credits.

5. Financial Health

Five-year fiscal trend (years ended last Saturday of July, $ billions unless noted):

Metric	FY21	FY22	FY23	FY24	FY25
Revenue	49.8	51.6	57.0	53.8	56.7
YoY growth	+1%	+3%	+11%	−6%	+5%
Net income (GAAP)	10.6	11.8	12.6	10.3	10.5
Operating cash flow	15.5	13.2	19.9	10.9	13.3
Free cash flow	~15.0	~12.6	~19.0	~10.2	~12.8
R&D expense	6.5	6.8	7.6	8.0	9.3
Notable events	—	Pandemic supply chain	Backlog unwind	Splunk closed Mar-24; ~9.6 k layoffs	1st full-year w/ Splunk; AI orders >$2 bn

Last five quarters — revenue and non-GAAP gross margin (Cisco discloses non-GAAP gross margin each quarter; this is the closest comparable profitability metric across the period):

Quarter	Period end	Revenue	Product revenue	Non-GAAP gross margin	Non-GAAP EPS
Q2 FY25	25 Jan 2025	$13.99 bn (+9%)	$10.1 bn (+13%)	68.7%	$0.94
Q3 FY25	26 Apr 2025	$14.15 bn (+11%)	$10.4 bn (+15%)	68.6%	$0.96
Q4 FY25	26 Jul 2025	$14.67 bn (+8%)	$10.9 bn (+10%)	67.9%	$0.99
Q1 FY26	25 Oct 2025	$14.88 bn (+8%)	$11.0 bn (+10%)	68.1%	$1.00
Q2 FY26	24 Jan 2026	$15.30 bn (+10%)	$11.6 bn (+14%)	67.5%	$1.04

Balance sheet (most recent — end Q2 FY26): Cash, equivalents and short-term investments ~$16 bn; total debt ~$31 bn (elevated to fund the Splunk close); long-term debt amortising on schedule; total RPO $43.4 bn provides forward visibility. Shares outstanding ~3.95 bn at end Q2 FY26 (down from a peak of ~5 bn pre-buyback programmes thanks to multi-decade repurchases).

6. Valuation & Market Data

Metric	Value (as of 1 May 2026 close)
Share price	$92.92 (close, day's range $89.32–$91.67 on 1 May; new 52-wk high)
Market cap	$362.80 bn
Enterprise value	$378.76 bn
P/E (trailing)	33.04
P/E (forward)	21.44
Price / Sales	6.14
EV / EBITDA	23.25
Price / FCF	29.64
Dividend yield	1.83% (annualised $1.68 vs $92.92)
Quarterly dividend	$0.42 (paid 22 Apr 2026; ex-div 2 Apr 2026)
Beta (5-year)	0.91
Short interest	58.04 m shares (1.47% of float)
Days to cover	2.59 (avg 20-day vol 17.44 m)
Put / call ratio	0.71 (bullish skew)
52-week range	$58.58 (low) — $92.92 (1 May 2026 high)
50-day moving average	$81.72
200-day moving average	$75.06
52-week price change	+59.10%
Shares outstanding	3.95 bn

7. What Are They Building / What's Coming?

• Cisco Silicon One G300 (announced 17 Feb 2026): 102.4 Tbps switching ASIC for "agentic-era" AI clusters — double the bandwidth of the G200 (51.2 Tbps, 5 nm). Silicon One unifies router and data-centre-switch silicon into a single architecture; multiple top hyperscalers running G200 in production for AI back-end fabrics.
• Cisco Secure AI Factory with NVIDIA (expanded March 2026 at NVIDIA GTC): modular reference design combining Cisco Silicon One networking + NVIDIA GPUs + Cisco AI Defense + Hypershield + Splunk Enterprise Security + Hybrid Mesh Firewall. Hypershield runs on Silicon One and NVIDIA BlueField DPUs for inline hardware-level enforcement.
• Galileo Technologies acquisition (announced 9 April 2026): AI-agent observability and evaluation platform; closing expected Q4 FY26. Will plug into Splunk Observability Cloud's existing AI Agent Monitoring; provides hallucination/bias/security/cost evaluation across agentic applications. Price not disclosed.
• Hybrid Mesh Firewall portfolio (Cisco Live San Diego, June 2025): Secure Firewall 6100 series (200 Gbps per RU, cluster capacity 5 Tbps) for AI-ready data centres; 200-series 220 firewall for SMB / SD-WAN branches; Universal Zero-Trust Network Access (Universal ZTNA) platform; Splunk SIEM integrations enriched.
• AI Defense + Hypershield + Splunk integrations: 30 Splunk Technical Add-Ons updated to "gold standard"; XDR alerts feed Splunk Enterprise Security directly; combined telemetry across XDR, AI Defense, Multicloud Defense, Talos and Splunk; Secure Access + XDR + Hypershield + AI Defense added 750 new customers in a single quarter.
• Project Glasswing (announced April 2026): Cisco joined Anthropic's Project Glasswing initiative providing access to Claude Mythos Preview to a coalition of vendors defining how AI resources will be protected from cyber threats.
• Quantum networking R&D: Cisco Quantum Lab is mapping a "practical path to quantum networking in data centres" (research released 7 May 2025); patents filed for QKD key management integrated into network routers; product roadmap includes quantum-resistant cryptography baked into existing networking lines.
• R&D spend: $9.3 bn in FY25 (+16.5% YoY), highest in company history, concentrated in AI networking, silicon design, security and quantum.

8. Competitive Landscape

Cisco competes across four overlapping markets — enterprise/data-centre networking, security, collaboration and observability. The competitive profile differs by segment.

Market	Cisco share	Key competitors & share
Enterprise WLAN (Q1 2025)	~39.5%	HPE Aruba ~15.9%; Juniper Networks ~5.3%; Ubiquiti, Extreme Networks (rest of market)
Worldwide Ethernet switching (Q1 2025)	~30.9%	Arista Networks ~13.9%; HPE/Juniper combined; NVIDIA (Spectrum-X surging)
Data-centre Ethernet switch (3Q 2025)	Top-3 alongside Arista and Accton	Arista #1 overall; Celestica + NVIDIA combined ~50% of AI back-end Ethernet segment
Web conferencing / collaboration (2025)	Webex ~5–9%	Zoom ~28%; Microsoft Teams ~23%; Google Meet ~17%
SIEM (post-Splunk acquisition)	Splunk Top-3 globally	Microsoft Sentinel, IBM QRadar, Palo Alto XSIAM, Elastic, Sumo Logic

Direct competitors by segment: Networking — Arista Networks, Juniper Networks (now part of HPE), Hewlett Packard Enterprise (Aruba + Juniper), Huawei, Dell, Extreme Networks, NVIDIA Spectrum-X (AI back-end), Broadcom (silicon). Security — Palo Alto Networks, Fortinet, CrowdStrike, Microsoft Sentinel/Defender, Zscaler, Check Point, IBM QRadar. Collaboration — Microsoft Teams, Zoom, Google Meet, RingCentral, 8x8. Observability — Datadog, Dynatrace, New Relic, Microsoft (Azure Monitor), Grafana, Elastic. Silicon — Broadcom (Tomahawk/Jericho), Marvell, NVIDIA (Spectrum/BlueField).

Competitive impact — AI infrastructure boom: the AI capex surge has been a clear net tailwind for Cisco. Hyperscaler AI orders went from $1.0 bn target in FY25 (delivered >$2 bn) to a raised >$5 bn target in FY26 (already $3.4 bn taken in H1 FY26). Arista has converted faster on share within the AI back-end Ethernet segment, but Cisco has won on breadth (silicon + optics + systems + security stack). NVIDIA Spectrum-X with Spectrum SN5000 switches is the principal new entrant pressuring both Cisco and Arista in AI back-end fabrics; Cisco's response has been to integrate (Cisco Secure AI Factory with NVIDIA, Hypershield-on-BlueField) rather than confront directly.

China/Huawei restrictions: US export controls on Huawei (in force since 2019, expanded multiple times through 2024) and EU restrictions on Chinese telecom gear continue to be a structural tailwind for Cisco in Europe and selected APJC markets — reflected in Q2 FY26 EMEA revenue +15% YoY.

9. Leadership and Ownership

Executive team:

• Charles "Chuck" Robbins — Chair and CEO. Joined Cisco in 1997; appointed CEO 26 July 2015 (succeeding John Chambers); Chair since December 2017. Estimated net worth ~$158 m (April 2026). Beneficially owns ~671,095 Cisco shares (incl. dividend-equivalent units on deferred and unvested RSUs).
• R. Scott Herren — EVP and Chief Financial Officer; ex-Autodesk CFO.
• Jeetu Patel — President & Chief Product Officer; expanded role post-Splunk; oversees Networking, Security and Collaboration product groups.
• Liz Centoni — EVP, Chief Customer Experience Officer.
• Maria Martinez — EVP and Chief Operating Officer.
• Gary Steele — President of Go-To-Market (joined via Splunk acquisition; ex-Splunk CEO).

Board (as of Dec 2025 AGM): Wesley G. Bush, Michael D. Capellas, Mark Garrett, John D. Harris II, Dr. Kristina M. Johnson, Sarah Rae Murphy, Charles H. Robbins, Daniel H. Schulman, Marianna Tessel.

Ownership: ~76% institutional, ~0.05% insiders, balance retail. Top institutional holders: Vanguard Group ~9.9% (~392.2 m shares, ~$27 bn at current price); BlackRock Inc. ~5.5% (~218.7 m, ~$15 bn); State Street Corp ~5.0%; Geode Capital, Morgan Stanley, FMR (Fidelity), Charles Schwab Investment Management, Invesco, Norges Bank and Bank of America round out the top 10. Combined Vanguard + BlackRock + State Street ~20.3% of shares outstanding.

Recent Form 4 insider transactions:

Date	Insider	Role	Type	Shares	Price	10b5-1?
13 Feb 2026	Charles Robbins	Chair & CEO	Sale (4 transactions)	4,800 + 1,300 + 2,100 + 11,345 = 19,545	$74.12 / $74.85 / $76.03 / $76.92	Yes (plan adopted 6 Mar 2025)
13 Feb 2026	Charles Robbins	Chair & CEO	Post-sale beneficial ownership	671,095.2	—	incl. DEUs
2025 (multiple)	Charles Robbins	Chair & CEO	Pre-planned sales (10b5-1 plan adopted 6 Mar 2025)	Various	~$56–$78	Yes
Dec 2024	Charles Robbins	Chair & CEO	Sale	~847,000 (~$46.9 m gross)	~$55–$58	Yes (prior 10b5-1)

Robbins' selling has been done exclusively through pre-arranged Rule 10b5-1 trading plans (most recent plan adopted 6 March 2025). Total gross sales 2024–Feb 2026 are estimated at ~$50 m+ on a base of ~$158 m net worth — consistent with diversification rather than urgency. No discretionary insider purchases by any executive over the trailing 12 months.

10. Risks and Challenges

• Hyperscaler concentration: the $5 bn+ AI infrastructure order pipeline in FY26 is concentrated in a handful of webscale customers (the largest cloud + AI hyperscalers). If any single customer pauses, defers or substitutes (e.g. moves to NVIDIA Spectrum-X / in-house silicon), quarterly variance widens materially.
• Arista, NVIDIA and merchant-silicon competition: Arista took the data-centre Ethernet switch crown in late 2024; NVIDIA passed Cisco and Arista in datacentre Ethernet sales in 2025 with Spectrum-X; Broadcom merchant ASICs (Tomahawk/Jericho) underpin most "white-box" hyperscaler buys that bypass Cisco systems entirely.
• Splunk on-prem-to-cloud transition: Security revenue −4% YoY in Q2 FY26 and −2% in Q1 FY26 reflects Splunk customers shifting from term licences to cloud subscriptions; management expects this to drag through H2 FY26.
• Webex losing collaboration share: Microsoft Teams (~23%) and Zoom (~28%) continue to outpace Webex (~5–9%) globally. AI integration alone is unlikely to reverse the share trajectory in pure SMB segments.
• Stock-based compensation and Splunk integration costs: total debt elevated to ~$31 bn post-Splunk; integration synergies still being booked; goodwill carry from Splunk creates impairment risk if growth disappoints.
• Valuation re-rating: stock at fresh 52-week high $92.92 with trailing P/E 33 (vs FY24 sub-15 trough); EV/EBITDA 23.25; further multiple expansion likely needs another upward AI orders / FY27 guide step-up.
• Geopolitical / China: APJC revenue dependence on enterprise/service-provider buyers in the region; further US-China decoupling, EU "trusted vendor" rules and tariffs could disrupt supply chains and demand.
• Cybersecurity vulnerabilities in own products: April 2026 critical CVE in Cisco Integrated Management Controller out-of-band management requiring patches; ongoing fix cadence in IOS XE, ASA, etc. brand impact when high-severity Cisco-product vulnerabilities surface.
• Capital allocation / M&A risk: Splunk ($28 bn), Galileo (undisclosed price; Q4 FY26), Isovalent, Splunk-pre Robust Intelligence and other deals add execution risk and integration overhead.
• Headcount restructuring fatigue: ~9,600 layoffs in 2024 plus ongoing targeted reductions through 2025/2026 (incl. 221 Milpitas/SF in Oct 2025) signal continuing cost reshaping — could weigh on engineering/sales velocity.

11. Recent Developments

• 1 May 2026 — CSCO closed at $92.92, a fresh 52-week (and multi-year) high; market cap $362.8 bn; trailing 12-month price change +59.1%.
• April 2026 — Cisco joined Anthropic's Project Glasswing initiative providing access to Claude Mythos Preview for a vendor coalition defining AI cyber-defence standards; critical Cisco IMC out-of-band management CVE patched.
• 22 April 2026 — $0.42/share quarterly dividend paid (record date 2 Apr; ex-div 2 Apr 2026).
• 9 April 2026 — Announced intent to acquire Galileo Technologies (AI agent observability and evaluation) to extend Splunk Observability Cloud's AI Agent Monitoring; closing expected Q4 FY26; price not disclosed.
• 17 March 2026 — NVIDIA GTC: expanded Cisco Secure AI Factory with NVIDIA — AI Defense and Hypershield can now tap NVIDIA AI; Hypershield runs on Silicon One + NVIDIA BlueField DPUs for inline hardware-level enforcement.
• 17 February 2026 — Announced Silicon One G300 (102.4 Tbps switching ASIC) and new optics for "agentic-era" AI data centres — doubles G200 bandwidth.
• 13 February 2026 — CEO Chuck Robbins sold 19,545 shares in 4 tranches (10b5-1 plan adopted 6 Mar 2025) at $74.12–$76.92; post-sale beneficial ownership 671,095.2 shares.
• 11 February 2026 — Q2 FY26 results: revenue $15.3 bn (+10%); GAAP EPS $0.80 (+31%); non-GAAP EPS $1.04 (+11%); Networking $8.3 bn (+21%); $2.1 bn AI hyperscaler orders (matched FY25 full-year); FY26 guidance raised to $61.2–$61.7 bn revenue / $4.13–$4.17 non-GAAP EPS; dividend raised 2% to $0.42; $1.4 bn buybacks at $76.29 average; $3.0 bn returned to shareholders.
• 16 December 2025 — 2025 Annual Meeting of Stockholders held virtually; nine directors re-elected including Robbins, Bush, Capellas, Garrett, Harris, Johnson, Murphy, Schulman, Tessel.
• 12 November 2025 — Q1 FY26 results: revenue $14.88 bn (+8%); non-GAAP EPS $1.00; non-GAAP net income $4.0 bn; Networking $7.8 bn (+15%); AI hyperscaler orders $1.3 bn (balanced Silicon One systems and optics); Splunk closed one of its largest-ever deals via joint Cisco-Splunk sales motion; mid-teens demand growth in next-gen firewalls.
• 13 August 2025 — Q4 FY25 / FY25 results: Q4 revenue $14.7 bn (+8%); FY25 revenue $56.7 bn (+5%); FY25 AI infrastructure orders >$2 bn (vs $1 bn original target); Splunk delivered +14% YoY new logos in Q4 via joint sales; Security +9% (Splunk + SASE), Observability +4% (Splunk + ThousandEyes).
• June 2025 — Cisco Live San Diego: launched Hybrid Mesh Firewall portfolio (6100 + 200 series), Universal ZTNA, Hypershield on Silicon One + NVIDIA BlueField, expanded Splunk SIEM integrations.
• February 2025 — $15 bn buyback authorisation top-up announced (to ~$17 bn remaining); dividend raised 3% to $0.41/share.

12. Key Dates Coming Up

• 13 May 2026 (Wednesday) — Q3 FY26 earnings release after market close (period ended 25 April 2026); conference call 1:30 pm PT / 4:30 pm ET / 9:30 pm BST. Livestreamed on YouTube and LinkedIn.
• ~Early July 2026 — Next quarterly $0.42 dividend ex-div / record / payment cycle.
• ~Mid-August 2026 — Q4 FY26 / FY26 full-year earnings (period ending ~25 July 2026).
• ~Q4 FY26 (by ~25 July 2026) — Galileo Technologies acquisition close expected.
• ~December 2026 — 2026 Virtual Annual Meeting of Stockholders (typically held mid-December).
• June 2026 (typical) — Cisco Live US 2026 (annual customer + partner conference).
• Q3 FY27 (May 2027) — Silicon One G300 systems initial-shipment milestones.

Related links on ChartsView: live charts · economic calendar · forum · blog

Disclaimer: This research is compiled from primary sources (SEC filings, company press releases, earnings transcripts, official IR pages and direct executive communications) and is provided for informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any security. ChartsView holds no analyst opinions or price targets. Always do your own research and consider your personal circumstances before investing.