Net Profit Margin
since 2005
Calculation
Cisco Systems Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss)1 | ÷ | Revenue1 | |
|---|---|---|---|---|---|---|---|
| Jul 25, 2026 | 20.95% | = | 100 | × | 13,267) | ÷ | 63,325) |
| Jul 26, 2025 | 17.97% | = | 100 | × | 10,180) | ÷ | 56,654) |
| Jul 27, 2024 | 19.18% | = | 100 | × | 10,320) | ÷ | 53,803) |
| Jul 29, 2023 | 22.13% | = | 100 | × | 12,613) | ÷ | 56,998) |
| Jul 30, 2022 | 22.91% | = | 100 | × | 11,812) | ÷ | 51,557) |
| Jul 31, 2021 | 21.26% | = | 100 | × | 10,591) | ÷ | 49,818) |
| Jul 25, 2020 | 22.75% | = | 100 | × | 11,214) | ÷ | 49,301) |
| Jul 27, 2019 | 22.39% | = | 100 | × | 11,621) | ÷ | 51,904) |
| Jul 28, 2018 | 0.22% | = | 100 | × | 110) | ÷ | 49,330) |
| Jul 29, 2017 | 20.02% | = | 100 | × | 9,609) | ÷ | 48,005) |
| Jul 30, 2016 | 21.81% | = | 100 | × | 10,739) | ÷ | 49,247) |
| Jul 25, 2015 | 18.27% | = | 100 | × | 8,981) | ÷ | 49,161) |
| Jul 26, 2014 | 16.66% | = | 100 | × | 7,853) | ÷ | 47,142) |
| Jul 27, 2013 | 20.54% | = | 100 | × | 9,983) | ÷ | 48,607) |
| Jul 28, 2012 | 17.46% | = | 100 | × | 8,041) | ÷ | 46,061) |
| Jul 30, 2011 | 15.02% | = | 100 | × | 6,490) | ÷ | 43,218) |
| Jul 31, 2010 | 19.40% | = | 100 | × | 7,767) | ÷ | 40,040) |
| Jul 25, 2009 | 16.98% | = | 100 | × | 6,134) | ÷ | 36,117) |
| Jul 26, 2008 | 20.36% | = | 100 | × | 8,052) | ÷ | 39,540) |
| Jul 28, 2007 | 21.00% | = | 100 | × | 7,333) | ÷ | 34,922) |
| Jul 29, 2006 | 19.59% | = | 100 | × | 5,580) | ÷ | 28,484) |
| Jul 30, 2005 | 23.15% | = | 100 | × | 5,741) | ÷ | 24,801) |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).
1 US$ in millions
The financial performance from 2005 to 2026 exhibits a general trajectory of growth in both top-line revenue and bottom-line net income, although profitability margins have experienced significant volatility over the two-decade period.
- Revenue Growth and Scale
- Revenue increased from 24,801 million USD in 2005 to a projected 63,325 million USD by 2026. This expansion represents a substantial increase in market scale, characterized by steady growth through 2013, followed by a period of relative stagnation between 2014 and 2022, and a subsequent acceleration in the final projection years.
- Net Profit Margin Volatility
- The net profit margin generally fluctuated between 15% and 23% for the majority of the period. A period of relative instability is observed between 2009 and 2014, where margins dipped as low as 15.02% in 2011 before recovering. From 2019 to 2023, the company maintained a more stable and elevated margin range, peaking at 22.91% in 2022.
- Analysis of the 2018 Anomaly
- A critical divergence occurred in 2018, where net income plummeted to 110 million USD despite revenue remaining consistent at 49,330 million USD. This resulted in a net profit margin collapse to 0.22%. The immediate recovery in 2019, with margins returning to 22.39%, suggests that the 2018 decline was the result of a one-time extraordinary item or non-recurring expense rather than a fundamental deterioration of the business model.
- Recent and Projected Trends
- In the most recent data and projections from 2024 to 2026, net income is expected to rise to 13,267 million USD. While revenue reaches its highest historical point, the net profit margin shows a slight contraction to 17.97% in 2024 before rebounding to 20.95% by 2026, indicating a continued ability to convert revenue into profit at a rate consistent with historical norms.
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Comparison to Competitors
Cisco Systems Inc., net profit margin, long-term trends, comparison to competitors
| Cisco Systems Inc. | Apple Inc. | Arista Networks Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Jul 25, 2026 | 20.95% | — | — | 5.23% | -230.10% | 5.71% |
| Jul 26, 2025 | 17.97% | 26.92% | 38.99% | 4.81% | 1.57% | 4.77% |
| Jul 27, 2024 | 19.18% | 23.97% | 40.73% | 3.63% | -40.21% | 7.69% |
| Jul 29, 2023 | 22.13% | 25.31% | 35.62% | 2.39% | -7.45% | 8.98% |
| Jul 30, 2022 | 22.91% | 25.31% | 30.87% | 5.50% | 11.61% | 5.49% |
| Jul 31, 2021 | 21.26% | 25.88% | 28.52% | 3.45% | 22.80% | 3.14% |
| Jul 25, 2020 | 22.75% | 20.91% | 27.38% | 5.01% | 8.07% | 2.52% |
| Jul 27, 2019 | 22.39% | 21.24% | 35.67% | -2.55% | -2.33% | 2.05% |
| Jul 28, 2018 | 0.22% | 22.41% | 15.25% | — | 19.88% | 1.37% |
| Jul 29, 2017 | 20.02% | 21.09% | 25.71% | — | -10.23% | 2.69% |
| Jul 30, 2016 | 21.81% | 21.19% | 16.31% | — | 1.03% | 3.25% |
| Jul 25, 2015 | 18.27% | 22.85% | 14.46% | — | -0.41% | 5.12% |
| Jul 26, 2014 | 16.66% | 21.61% | 14.87% | — | — | 3.69% |
| Jul 27, 2013 | 20.54% | 21.67% | — | — | — | 1.83% |
| Jul 28, 2012 | 17.46% | 26.67% | — | — | — | 2.94% |
| Jul 30, 2011 | 15.02% | 23.95% | — | — | — | 4.27% |
| Jul 31, 2010 | 19.40% | 21.48% | — | — | — | 3.73% |
| Jul 25, 2009 | 16.98% | 15.61% | — | — | — | 3.19% |
| Jul 26, 2008 | 20.36% | 14.88% | — | — | — | 4.70% |
| Jul 28, 2007 | 21.00% | 14.56% | — | — | — | 4.60% |
| Jul 29, 2006 | 19.59% | 10.30% | — | — | — | — |
| Jul 30, 2005 | 23.15% | 9.58% | — | — | — | — |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).
Comparison to Sector (Technology Hardware & Equipment)
Cisco Systems Inc., net profit margin, long-term trends, comparison to sector (technology hardware & equipment)
| Cisco Systems Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Jul 25, 2026 | 20.95% | — |
| Jul 26, 2025 | 17.97% | 21.86% |
| Jul 27, 2024 | 19.18% | 19.89% |
| Jul 29, 2023 | 22.13% | 20.57% |
| Jul 30, 2022 | 22.91% | 21.31% |
| Jul 31, 2021 | 21.26% | 21.21% |
| Jul 25, 2020 | 22.75% | 17.50% |
| Jul 27, 2019 | 22.39% | 15.96% |
| Jul 28, 2018 | 0.22% | 18.73% |
| Jul 29, 2017 | 20.02% | 20.66% |
| Jul 30, 2016 | 21.81% | 21.06% |
| Jul 25, 2015 | 18.27% | 21.84% |
| Jul 26, 2014 | 16.66% | 20.48% |
| Jul 27, 2013 | 20.54% | 21.32% |
| Jul 28, 2012 | 17.46% | 24.46% |
| Jul 30, 2011 | 15.02% | 21.29% |
| Jul 31, 2010 | 19.40% | 20.58% |
| Jul 25, 2009 | 16.98% | 16.20% |
| Jul 26, 2008 | 20.36% | 17.79% |
| Jul 28, 2007 | 21.00% | 18.28% |
| Jul 29, 2006 | 19.59% | 15.84% |
| Jul 30, 2005 | 23.15% | 18.27% |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).
Comparison to Industry (Information Technology)
Cisco Systems Inc., net profit margin, long-term trends, comparison to industry (information technology)
| Cisco Systems Inc. | Information Technology | |
|---|---|---|
| Jul 25, 2026 | 20.95% | — |
| Jul 26, 2025 | 17.97% | 25.66% |
| Jul 27, 2024 | 19.18% | 20.48% |
| Jul 29, 2023 | 22.13% | 20.24% |
| Jul 30, 2022 | 22.91% | 22.27% |
| Jul 31, 2021 | 21.26% | 23.48% |
| Jul 25, 2020 | 22.75% | 19.76% |
| Jul 27, 2019 | 22.39% | 19.73% |
| Jul 28, 2018 | 0.22% | 18.59% |
| Jul 29, 2017 | 20.02% | 17.77% |
| Jul 30, 2016 | 21.81% | 17.58% |
| Jul 25, 2015 | 18.27% | 18.32% |
| Jul 26, 2014 | 16.66% | 19.33% |
| Jul 27, 2013 | 20.54% | 20.15% |
| Jul 28, 2012 | 17.46% | 20.07% |
| Jul 30, 2011 | 15.02% | 20.71% |
| Jul 31, 2010 | 19.40% | 20.19% |
| Jul 25, 2009 | 16.98% | 14.45% |
| Jul 26, 2008 | 20.36% | 15.07% |
| Jul 28, 2007 | 21.00% | 15.71% |
| Jul 29, 2006 | 19.59% | 16.26% |
| Jul 30, 2005 | 23.15% | 16.64% |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).