Price to Earnings (P/E)
since 2005
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Cisco Systems Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
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Calculation
Cisco Systems Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss)1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 2, 2026 | = | ÷ | = | ÷ | |||||||
| Sep 3, 2025 | = | ÷ | = | ÷ | |||||||
| Sep 5, 2024 | = | ÷ | = | ÷ | |||||||
| Sep 7, 2023 | = | ÷ | = | ÷ | |||||||
| Sep 8, 2022 | = | ÷ | = | ÷ | |||||||
| Sep 9, 2021 | = | ÷ | = | ÷ | |||||||
| Sep 3, 2020 | = | ÷ | = | ÷ | |||||||
| Sep 5, 2019 | = | ÷ | = | ÷ | |||||||
| Sep 6, 2018 | = | ÷ | = | ÷ | |||||||
| Sep 7, 2017 | = | ÷ | = | ÷ | |||||||
| Sep 8, 2016 | = | ÷ | = | ÷ | |||||||
| Sep 8, 2015 | = | ÷ | = | ÷ | |||||||
| Sep 9, 2014 | = | ÷ | = | ÷ | |||||||
| Sep 10, 2013 | = | ÷ | = | ÷ | |||||||
| Sep 12, 2012 | = | ÷ | = | ÷ | |||||||
| Sep 14, 2011 | = | ÷ | = | ÷ | |||||||
| Sep 21, 2010 | = | ÷ | = | ÷ | |||||||
| Sep 11, 2009 | = | ÷ | = | ÷ | |||||||
| Sep 15, 2008 | = | ÷ | = | ÷ | |||||||
| Sep 18, 2007 | = | ÷ | = | ÷ | |||||||
| Sep 18, 2006 | = | ÷ | = | ÷ | |||||||
| Sep 19, 2005 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Cisco Systems Inc. Annual Report.
The financial trajectory from 2005 to 2026 is characterized by a long-term appreciation in share price and a general increase in earnings per share, though the valuation multiple has experienced significant volatility and periodic re-ratings.
- Price-to-Earnings (P/E) Ratio Trends
- The P/E ratio exhibited a period of expansion between 2005 and 2007, peaking at 26.61. This was followed by a sustained period of valuation compression from 2008 to 2014, where the ratio frequently fluctuated between 12.55 and 16.14. A renewed upward trend in valuation is evident in the final years of the sequence, with the ratio climbing to 26.28 in 2025 and reaching 32.53 by 2026, suggesting increased market optimism regarding future growth.
- Analysis of the 2018 Valuation Anomaly
- A severe outlier is observed in 2018, where the P/E ratio spiked to 1,964.84. This deviation is not indicative of a sudden surge in market valuation but is instead the mathematical result of a sharp collapse in earnings per share, which fell to 0.02 while the share price remained robust at 47.28. The ratio normalized immediately in 2019 as earnings recovered to 2.74.
- Earnings per Share (EPS) Performance
- Earnings per share demonstrated a steady upward trend over the two-decade period, rising from 0.91 in 2005 to 3.37 by 2026. Despite the 2018 anomaly and moderate fluctuations between 2014 and 2021, the overall growth in EPS reflects a consistent increase in profitability per share.
- Share Price Correlation
- The share price remained relatively range-bound between 16.33 and 32.04 from 2005 to 2014. A structural shift occurred after 2015, with prices consistently exceeding 40.00 and culminating in a significant acceleration between 2024 and 2026, where the price rose from 49.13 to 109.46. This acceleration in price outpaced the growth in earnings during the same period, contributing to the expansion of the P/E ratio.
Comparison to Competitors
Cisco Systems Inc., P/E, long-term trends, comparison to competitors
| Cisco Systems Inc. | Apple Inc. | Arista Networks Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | ||||||
| Sep 3, 2025 | ||||||
| Sep 5, 2024 | ||||||
| Sep 7, 2023 | ||||||
| Sep 8, 2022 | ||||||
| Sep 9, 2021 | ||||||
| Sep 3, 2020 | ||||||
| Sep 5, 2019 | ||||||
| Sep 6, 2018 | ||||||
| Sep 7, 2017 | ||||||
| Sep 8, 2016 | ||||||
| Sep 8, 2015 | ||||||
| Sep 9, 2014 | ||||||
| Sep 10, 2013 | ||||||
| Sep 12, 2012 | ||||||
| Sep 14, 2011 | ||||||
| Sep 21, 2010 | ||||||
| Sep 11, 2009 | ||||||
| Sep 15, 2008 | ||||||
| Sep 18, 2007 | ||||||
| Sep 18, 2006 | ||||||
| Sep 19, 2005 |
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., P/E, long-term trends, comparison to sector (technology hardware & equipment)
| Cisco Systems Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Sep 2, 2026 | ||
| Sep 3, 2025 | ||
| Sep 5, 2024 | ||
| Sep 7, 2023 | ||
| Sep 8, 2022 | ||
| Sep 9, 2021 | ||
| Sep 3, 2020 | ||
| Sep 5, 2019 | ||
| Sep 6, 2018 | ||
| Sep 7, 2017 | ||
| Sep 8, 2016 | ||
| Sep 8, 2015 | ||
| Sep 9, 2014 | ||
| Sep 10, 2013 | ||
| Sep 12, 2012 | ||
| Sep 14, 2011 | ||
| Sep 21, 2010 | ||
| Sep 11, 2009 | ||
| Sep 15, 2008 | ||
| Sep 18, 2007 | ||
| Sep 18, 2006 | ||
| Sep 19, 2005 |
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., P/E, long-term trends, comparison to industry (information technology)
| Cisco Systems Inc. | Information Technology | |
|---|---|---|
| Sep 2, 2026 | ||
| Sep 3, 2025 | ||
| Sep 5, 2024 | ||
| Sep 7, 2023 | ||
| Sep 8, 2022 | ||
| Sep 9, 2021 | ||
| Sep 3, 2020 | ||
| Sep 5, 2019 | ||
| Sep 6, 2018 | ||
| Sep 7, 2017 | ||
| Sep 8, 2016 | ||
| Sep 8, 2015 | ||
| Sep 9, 2014 | ||
| Sep 10, 2013 | ||
| Sep 12, 2012 | ||
| Sep 14, 2011 | ||
| Sep 21, 2010 | ||
| Sep 11, 2009 | ||
| Sep 15, 2008 | ||
| Sep 18, 2007 | ||
| Sep 18, 2006 | ||
| Sep 19, 2005 |
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).