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Cisco Systems, Inc. CSCO Subscription — Revenue

Other product segments

Networking
$7.63B
Services
$3.72B-1.4%
Subscription Revenue, Service
$3.36B-2.2%
Security
$1.95B
Collaboration
$1.02B-0.7%
Observability
$259M

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Other financials

Income statement

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Revenue$15.8B+12.0%
Gross profit$10.1B+8.6%
Operating income$4.0B+23.7%
Net income$3.4B+35.4%
EPS (diluted)$0.85+37.1%

Balance sheet

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Cash & equivalents$7.1B-13.2%
Total debt$33.0B+7.3%
Total equity$48.9B+6.4%
Total assets$125.55B+4.8%

Cash flow

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Operating cash flow$3.8B-7.4%
CapEx$414.0M+58.6%
Free cash flow$3.3B-11.9%

Valuation

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Market cap$478.88B+74.7%
Enterprise value$504.8B+70.9%
P/E40.1×+13.1×
P/S7.9×+3.0×

Profitability

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Gross margin64.3%-0.9pp
Operating margin23.4%+3.1pp
Net margin19.7%+2.1pp
FCF margin19.4%-3.6pp

Returns & leverage

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Return on equity25.2%+3.9pp
Debt / equity0.7×0.0×
Current ratio0.9×0.0×

Where this comes from

Reported directly by Cisco Systems, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Cisco Systems, Inc.’s 10-Q, filed May 19, 2026.

Filed
May 19, 2026, 4:36 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0000858877-26-000078
Line itemThree Months Ended / April 25, 2026Three Months Ended / April 26, 2025Nine Months Ended / April 25, 2026Nine Months Ended / April 26, 2025
Product$4,432$4,483$13,406$13,334
Services3,3593,43310,22110,288
Total$7,791$7,916$23,627$23,622

Item 1. Financial Statements (Unaudited)

FAQ

What is Cisco Systems, Inc.'s subscription — revenue?
Cisco Systems, Inc. (CSCO) reported subscription — revenue of $7.79B in Q1 2026.
How has Cisco Systems, Inc.'s subscription — revenue changed year-over-year?
Cisco Systems, Inc.'s subscription — revenue decreased by 1.6% year-over-year, from $7.92B to $7.79B.
What is the long-term trend for Cisco Systems, Inc.'s subscription — revenue?
Over 3 years (2022 to 2025), Cisco Systems, Inc.'s subscription — revenue has grown at a 12.1% compound annual growth rate (CAGR), from $22.39B to $31.53B.
What does subscription — revenue mean?
This metric represents the total revenue generated from software and services sold under recurring subscription models rather than perpetual licenses. It reflects the company's transition toward a predictable, ratable revenue stream and away from one-time hardware-centric sales. This segment is a critical indicator of the company's long-term customer retention and the success of its shift toward a software-defined business model.

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