Jul 2026 (Q4 FY26) — Aug 12, 2026
Cisco Q4 FY26 — Record Revenue and Strong AI Momentum
Read the full callCisco (CSCO) earnings
- Jul 2026
- Jul 2026 (Q4 FY26)
- Jul 2026
Cisco earnings: last reported Wed, 12 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 17,252 | +17.6% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 24.7 | +3.7 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 3,859 | +51.3% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
43 of 46 judged targets kept · 25 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP earnings per share | $1.02 to $1.04 | Jan 2026 | non-GAAP earnings per share was $1.06, both up 10% | Achieved |
| AI infrastructure orders from hyperscalers | at least 2x FY25 (i.e. over $4 billion) | Oct 2025 | we now expect to take AI infrastructure orders of approximately $9 billion from hyperscalers in FY '26. 4.5x our FY '25 total | Revised Up |
| AI infrastructure ramp with Neocloud, sovereign and enterprise customers | opportunity ramps in the second half of FY26 | Jul 2025 | we took approximately $300 million in AI infrastructure orders from Neocloud, Sovereign and Enterprise customers in Q3... approximately $900 million in orders taken year-to-date | On Track |
3 of CISCO SYSTEMS, INC.'s 71 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 68 more targets are in the full ledger.
Claimed
- Fiscal Year 2026 revenue exceeded $63 billion, growing 12% year-over-year, marking a record year for Cisco.
- Record Q4 revenue of $17.3 billion, up 18% year-over-year, with product revenue up an impressive 24%.
- Non-GAAP EPS grew 23% in Q4 to $1.22 and 14% for the full year to $4.33, both record highs.
- Total product orders increased 35% year-over-year in Q4, driven by triple-digit growth in hyperscale orders.
- AI infrastructure orders from hyperscalers reached $4 billion in Q4, bringing the total for FY26 to $9.3 billion.
Qualified
- Non-GAAP gross margin decreased 210 basis points year-over-year in Q4 to 66.3%, primarily due to a higher hardware mix and increased memory costs.
Price
$106.5 −0.83% · −$0.89
Performance +51.9% 1Y
1Y: $70.13 on 17 Oct 2025 → $106.5. High $130 (4 Jun 2026), low $70.13 (17 Oct 2025).
- Previous close
- $107.39
- 52-week range
- $70.27 – $130
- One year
- +50.74%
Overview
- Symbol
- CSCO
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
43 of 46 judged targets kept · 25 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP earnings per share | $1.02 to $1.04 | Jan 2026 | non-GAAP earnings per share was $1.06, both up 10% | Achieved |
| AI infrastructure orders from hyperscalers | at least 2x FY25 (i.e. over $4 billion) | Oct 2025 | we now expect to take AI infrastructure orders of approximately $9 billion from hyperscalers in FY '26. 4.5x our FY '25 total | Revised Up |
| AI infrastructure ramp with Neocloud, sovereign and enterprise customers | opportunity ramps in the second half of FY26 | Jul 2025 | we took approximately $300 million in AI infrastructure orders from Neocloud, Sovereign and Enterprise customers in Q3... approximately $900 million in orders taken year-to-date | On Track |
Claimed
- Fiscal Year 2026 revenue exceeded $63 billion, growing 12% year-over-year, marking a record year for Cisco.
- Record Q4 revenue of $17.3 billion, up 18% year-over-year, with product revenue up an impressive 24%.
- Non-GAAP EPS grew 23% in Q4 to $1.22 and 14% for the full year to $4.33, both record highs.
- Total product orders increased 35% year-over-year in Q4, driven by triple-digit growth in hyperscale orders.
- AI infrastructure orders from hyperscalers reached $4 billion in Q4, bringing the total for FY26 to $9.3 billion.
Qualified
- Non-GAAP gross margin decreased 210 basis points year-over-year in Q4 to 66.3%, primarily due to a higher hardware mix and increased memory costs.
The full ledger
Open CISCO SYSTEMS, INC.’s full ledger
A free account opens 5 company ledgers a month. All 71 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q3 FY26) — May 13, 2026
Cisco Q3 FY26 — record revenue and triple-digit AI infrastructure order growth
Read the full callJan 2026 (Q2 FY26) — Feb 11, 2026
Cisco Q2 FY26 — AI Infrastructure and Campus Networking Drive Double-Digit Growth
Read the full callEvery analysed call
Cisco earnings calls (CSCO)
Financials
What the filings say
Net profit, year on year: +51% (quarter to jul 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Oct 2025 | Jan 2026 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 13,841 | 13,991 | 14,149 | 14,673 | 14,883 | 15,349 | 15,841 | 17,252 |
| Operating profit | 2,358 | 3,113 | 3,202 | 3,087 | 3,363 | 3,781 | 3,960 | 4,264 |
| Operating margin | 17.0% | 22.3% | 22.6% | 21.0% | 22.6% | 24.6% | 25.0% | 24.7% |
| Other income | -91 | -226 | -255 | -88 | 28 | -135 | 79 | 669 |
| Interest | 418 | 404 | 403 | 368 | 350 | 370 | 377 | 373 |
| Profit before tax | 2,267 | 2,887 | 2,947 | 2,999 | 3,391 | 3,646 | 4,039 | 4,933 |
| Tax rate | −19.6% | 15.9% | 15.5% | 15.0% | 15.7% | 12.9% | 16.5% | 21.8% |
| Net profit | 2,711 | 2,428 | 2,491 | 2,550 | 2,860 | 3,175 | 3,373 | 3,859 |
| EPS ($ per share) | 0.68 | 0.61 | 0.63 | — | 0.72 | 0.80 | 0.85 | — |
| Line item | Jul 2019 | Jul 2020 | Jul 2021 | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 40,266 | 41,202 | 42,346 | 42,714 | 44,289 | 45,800 | 47,747 | 49,676 |
| Reserves | -5,903 | -2,763 | -654 | -1,319 | 1,639 | 1,087 | 50 | 1,565 |
| Total liabilities | 64,222 | 56,933 | 56,222 | 54,229 | 57,499 | 78,956 | 75,448 | 79,352 |
| Fixed assets | 2,789 | 2,453 | 2,338 | 1,997 | 2,085 | 2,090 | 2,113 | 2,760 |
| Investments | 21,663 | 17,610 | 15,343 | 12,188 | 16,023 | 10,346 | 7,764 | 8,700 |
| Total assets | 97,793 | 94,853 | 97,497 | 94,002 | 101,852 | 124,413 | 122,291 | 129,637 |
| Line item | Jul 2019 | Jul 2020 | Jul 2021 | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 15,831 | 15,426 | 15,454 | 13,226 | 19,886 | 10,880 | 14,193 | 14,177 |
| Cash from investing | 14,837 | 3,500 | -5,285 | 1,553 | -5,107 | -20,478 | 1,733 | -3,484 |
| Cash from financing | -27,889 | -18,856 | -12,097 | -15,962 | -11,626 | 6,844 | -15,815 | -12,347 |
| Net cash flow | 2,779 | 40 | -1,870 | -1,363 | 3,048 | -2,785 | 68 | -1,683 |
| Capital expenditure | -909 | -770 | -692 | -477 | -849 | -670 | -905 | -1,410 |
| Free cash flow | 14,922 | 14,656 | 14,762 | 12,749 | 19,037 | 10,210 | 13,288 | 12,767 |
CSCO revenue by segment
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Americas | 60% | 59% | 59% | 60% | 60% | 58% | 60% | 60% | +17.8% |
| Europe Middle East and Africa | 26% | 28% | 26% | 25% | 25% | 29% | 26% | 25% | +19.3% |
| Asia Pacific Japan and China | 14% | 14% | 14% | 15% | 14% | 14% | 14% | 15% | +13.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CSCO operating KPIs by quarter
| KPI | Apr 2025 Q3 FY25 | Jul 2025 Q4 FY25 | Oct 2025 Q1 FY26 | Jan 2026 Q2 FY26 | Apr 2026 Q3 FY26 | Jul 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Annual recurring revenue (ARR) | $30.6BTotal ARR ended the quarter at $30.6 billion, an increase of 5% with product ARR growth of 8%.Source: earnings call transcript | $31.1BTotal ARR ended the quarter at $31.1 billion, an increase of 5% with product ARR growth of 8%.Source: earnings call transcript | $31.4BTotal ARR ended the quarter at $31.4 billion, an increase of 5%, with product ARR growth of 7%.Source: earnings call transcript | $31BTotal ARR ended the quarter at $31 billion, an increase of 3% with product ARR growth of 6%.Source: earnings call transcript | $31.2BTotal ARR ended the quarter at $31.2 billion, an increase of 2%, with product ARR growth of 4%.Source: earnings call transcript | $32.1BTotal ARR ended the quarter at $32.1 billion, an increase of 3%, with product ARR growth of 5%.Source: earnings call transcript | +2.9% |
| Remaining performance obligation (RPO) | $41.7BTotal RPO was $41.7 billion, up 7%.Source: earnings call transcript | $43.5BTotal RPO was $43.5 billion, up 6% and Product RPO grew 8%, and total short-term RPO was $21.7 billion, up 4%.Source: earnings call transcript | $42.9BTotal RPO was $42.9 billion, up 7%.Source: earnings call transcript | $43.4BTotal RPO was $43.4 billion, up 5%.Source: earnings call transcript | $43.5BTotal RPO was $43.5 billion, up 4%.Source: earnings call transcript | $46.7BTotal RPO was $46.7 billion, up 7%, with product RPO up 9%.Source: earnings call transcript | +7.4% |
| Remaining performance obligation (RPO) Short-term | $21.1BAnd total short-term RPO and was $21.1 billion, up 5%.Source: earnings call transcript | $21.7BTotal RPO was $43.5 billion, up 6% and Product RPO grew 8%, and total short-term RPO was $21.7 billion, up 4%.Source: earnings call transcript | — | — | — | — | +2.8% |
| Remaining performance obligation (RPO) Product Long-term | — | — | $11.8BProduct RPO grew 10%, of which the long-term portion was $11.8 billion, up 13%.Source: earnings call transcript | $11.8BProduct RPO grew 8%, of which the long-term portion was $11.8 billion, up 11%.Source: earnings call transcript | — | — | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q4 FY2026 · share of revenue
- US 56% ↑ 2 pt
As CSCO cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
180 filings between Nov 10, 2025 and Oct 10, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$105.78M
95 sales by 10 insiders
97% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 36
- Award — granted as compensation
- 45
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Robbins Charles | — | $53.44M | Aug 14, 2026 |
| Patel Jeetendra I | — | $15.26M | Aug 14, 2026 |
| Stahlkopf Deborah L | — | $14.95M | Aug 14, 2026 |
| Patterson Mark | — | $8.02M | Sep 11, 2026 |
| Subaiya Thimaya K. | — | $7.01M | Sep 14, 2026 |
| Tuszik Oliver | — | $2.74M | Sep 14, 2026 |
| CAPELLAS MICHAEL D | — | $2.08M | Dec 19, 2025 |
| JOHNSON KRISTINA M | — | $1.04M | Dec 18, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 10, 2026 | Tuszik Oliver EVP, Global Sales | Tax withheld | 2,260 | $267.5K |
| Oct 9, 2026 | Rishi Girish D Director | Award | 419 | $0 |
| Sep 16, 2026 | Patterson Mark EVP and CFO | Award | 92,817 | $0 |
| Sep 16, 2026 | Patel Jeetendra I President and CPO | Award | 139,225 | $0 |
| Sep 16, 2026 | Robbins Charles Chair and CEO | Award | 167,069 | $0 |
| Sep 16, 2026 | Stahlkopf Deborah L EVP and Chief Legal Officer | Award | 55,690 | $0 |
| Sep 16, 2026 | Subaiya Thimaya K. EVP, Operations | Award | 55,690 | $0 |
| Sep 16, 2026 | Tuszik Oliver EVP, Global Sales | Award | 69,613 | $0 |
| Sep 16, 2026 | Fink Nichlas A SVP, Chief Accounting Officer | Award | 7,826 | $0 |
| Sep 15, 2026 | Tessel Marianna Director | Award | 274 | $30.2K |
| Sep 15, 2026 | JOHNSON KRISTINA M Director | Award | 417 | $45.9K |
| Sep 15, 2026 | Weil Kevin Director | Award | 274 | $30.2K |
| Sep 14, 2026 | Tuszik Oliver EVP, Global Sales | Sale 10b5-1 plan | 680 | $74.9K |
| Sep 14, 2026 | Subaiya Thimaya K. EVP, Operations | Sale 10b5-1 plan | 312 | $34.4K |
| Sep 11, 2026 | Patterson Mark EVP and CFO | Sale 10b5-1 plan | 1,795 | $195.4K |
| Sep 10, 2026 | Tuszik Oliver EVP, Global Sales | Tax withheld 10b5-1 plan | 1,260 | $137.8K |
| Sep 10, 2026 | Subaiya Thimaya K. EVP, Operations | Tax withheld 10b5-1 plan | 409 | $44.8K |
| Sep 10, 2026 | Patterson Mark EVP and CFO | Tax withheld 10b5-1 plan | 1,553 | $170.0K |
| Sep 8, 2026 | Fink Nichlas A SVP, Chief Accounting Officer | Sale 10b5-1 plan | 2,274 | $248.7K |
| Aug 19, 2026 | Subaiya Thimaya K. EVP, Operations | Sale 10b5-1 plan | 2,227 | $247.2K |
| Aug 19, 2026 | Subaiya Thimaya K. EVP, Operations | Sale 10b5-1 plan | 3,605 | $402.9K |
| Aug 14, 2026 | Patel Jeetendra I President and CPO | Sale 10b5-1 plan | 4,870 | $543.4K |
| Aug 14, 2026 | Stahlkopf Deborah L EVP and Chief Legal Officer | Sale 10b5-1 plan | 1,300 | $143.9K |
| Aug 14, 2026 | Patel Jeetendra I President and CPO | Sale 10b5-1 plan | 1,300 | $143.8K |
| Aug 14, 2026 | Tuszik Oliver EVP, Global Sales | Sale 10b5-1 plan | 2,760 | $310.4K |
| Aug 14, 2026 | Patterson Mark EVP and CFO | Sale 10b5-1 plan | 500 | $56.3K |
| Aug 14, 2026 | Robbins Charles Chair and CEO | Sale 10b5-1 plan | 300 | $34.0K |
| Aug 14, 2026 | Patterson Mark EVP and CFO | Sale 10b5-1 plan | 3,788 | $422.7K |
| Aug 14, 2026 | Robbins Charles Chair and CEO | Sale 10b5-1 plan | 2,699 | $303.6K |
| Aug 14, 2026 | Patterson Mark EVP and CFO | Sale 10b5-1 plan | 904 | $100.0K |
| Aug 14, 2026 | Stahlkopf Deborah L EVP and Chief Legal Officer | Sale 10b5-1 plan | 4,487 | $500.8K |
| Aug 14, 2026 | Robbins Charles Chair and CEO | Sale 10b5-1 plan | 14,829 | $1.65M |
| Aug 14, 2026 | Stahlkopf Deborah L EVP and Chief Legal Officer | Sale 10b5-1 plan | 700 | $78.8K |
| Aug 14, 2026 | Patel Jeetendra I President and CPO | Sale 10b5-1 plan | 100 | $11.4K |
| Aug 14, 2026 | Patel Jeetendra I President and CPO | Sale 10b5-1 plan | 900 | $101.4K |
| Aug 14, 2026 | Robbins Charles Chair and CEO | Sale 10b5-1 plan | 3,800 | $420.3K |
| Aug 10, 2026 | Subaiya Thimaya K. EVP, Operations | Tax withheld | 7,646 | $928.5K |
| Aug 10, 2026 | Tuszik Oliver EVP, Global Sales | Tax withheld | 3,146 | $382.0K |
| Aug 10, 2026 | Fink Nichlas A SVP, Chief Accounting Officer | Tax withheld | 1,205 | $146.3K |
| Aug 10, 2026 | Patel Jeetendra I President and CPO | Tax withheld | 9,400 | $1.14M |
| Aug 10, 2026 | Patterson Mark EVP and CFO | Tax withheld | 4,066 | $493.7K |
| Aug 10, 2026 | Robbins Charles Chair and CEO | Tax withheld | 15,656 | $1.90M |
| Aug 10, 2026 | Stahlkopf Deborah L EVP and Chief Legal Officer | Tax withheld | 4,209 | $511.1K |
| Jul 10, 2026 | Tuszik Oliver EVP, Global Sales | Tax withheld | 2,259 | $267.3K |
| Jun 16, 2026 | Subaiya Thimaya K. EVP, Operations | Sale 10b5-1 plan | 5,219 | $624.7K |
| Jun 16, 2026 | Subaiya Thimaya K. EVP, Operations | Sale 10b5-1 plan | 1,908 | $229.9K |
| Jun 15, 2026 | Tessel Marianna Director | Award | 251 | $30.2K |
| Jun 15, 2026 | JOHNSON KRISTINA M Director | Award | 351 | $42.2K |
| Jun 15, 2026 | Weil Kevin Director | Award | 251 | $30.2K |
| Jun 11, 2026 | Tuszik Oliver EVP, Global Sales | Sale 10b5-1 plan | 1,407 | $171.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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