AI-extracted from the 10-K filed 2026-09-02 — FY2026 (year ended July 25, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Cisco delivered $63.3B in revenue (+12% YoY) and $13.3B net income (+30% YoY), driven by strong AI infrastructure demand from hyperscalers representing ~6% of total revenue.
Biggest Revenue Drivers
Product$48.3B+16% YoY
Driven by Networking revenue growth of 22%, particularly from AI Infrastructure and Campus Networking solutions.
Services$15.0BFlat YoY
Higher professional services revenue offset lower support services revenue.
Biggest Revenue Drivers
Total revenue: $63.3B+12% YoY
Product$48.3B+16% YoY
Driven by Networking revenue growth of 22%, particularly from AI Infrastructure and Campus Networking solutions.
Services$15.0BFlat YoY
Higher professional services revenue offset lower support services revenue.
Americas$37.8B+12% YoY
Service Provider and Cloud market driven by AI Infrastructure solutions.
Largest Expense Items
Sales and marketing$11.6B+5% YoY
Higher headcount-related expenses and share-based compensation, offset by lower acquisition-related costs.
Research and development$9.6B+3% YoY
Higher headcount investments in AI and increased share-based compensation, partially offset by lower acquisition-related costs.
General and administrative$2.8B-8% YoY
Lower acquisition-related costs and headcount-related expenses, partially offset by higher discretionary spending.
Margins: Total gross margin declined 0.4 percentage points to 64.5%, driven by product gross margin decrease of 0.5 pts due to negative product mix and higher memory costs, partially offset by productivity improvements and absence of prior-year supplier dispute charges. Services gross margin increased 0.3 pts due to cost efficiencies.
Watch Items from the Filing
AI infrastructure revenue represented ~6% of total revenue in FY2026 (vs. <2% in FY2025), concentrated among limited hyperscaler customers with volatile, large sporadic purchases; customer concentration risk could significantly impact revenue and margins.
Inventory increased 80% to $5.7B and inventory purchase commitments surged 126% to $17.2B, primarily for Cisco Silicon One and memory components; material excess/obsolete inventory risk if demand decreases or customer orders shift.
Product gross margin faced headwinds from higher memory costs despite productivity gains; company expects continued supply chain constraints and memory cost pressures in future periods.
Operating income as % of revenue improved 3.5 pts to 24.3% driven by revenue growth and operating leverage, with operating margin expansion offsetting gross margin decline.
Fourth quarter FY2026 restructuring plan announced with estimated charges up to $1B (fiscal 2026 incurred $511M), expected completion by end of FY2027 to invest in silicon, optics, security and AI growth.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Tessel MariannaDirectorGrant or award · Sep 15, 2026
Congress trading in CSCO
82 transactions in CSCO reported by 35 members of Congress under the STOCK Act, most recent trade Sep 24, 2026. Reported transactions, not recommendations.
About CISCO SYSTEMS, INC. (CSCO): stock profile, AI score and financials
CISCO SYSTEMS, INC. (CSCO) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores CSCO at 70.4/100 on a composite quality score built from its SEC filings, placing it at rank #206 of 2,925 stocks — the top 10% of the AI-ranked universe. CSCO scores in the top quartile across revenue scale (97.4), balance sheet strength (86.4), profitability (82.7). Shareholder dilution risk is elevated at 21.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q4 2026), CISCO SYSTEMS, INC. reports quarterly revenue of $17.3B, net income of $3.9B, an operating margin of 24.7%. Top institutional holders of CSCO by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. CSCO trades on the Nasdaq exchange and files with the SEC under CIK 858877. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CSCO daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CISCO SYSTEMS, INC. directly from SEC EDGAR.