Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Cisco Systems Inc., EBITDA calculation

US$ in millions

12 months ended:	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019	Jul 28, 2018
Net income	12,613)	11,812)	10,591)	11,214)	11,621)	110)
Add: Income tax expense	2,705)	2,665)	2,671)	2,756)	2,950)	12,929)
Earnings before tax (EBT)	15,318)	14,477)	13,262)	13,970)	14,571)	13,039)
Add: Interest expense	427)	360)	434)	585)	859)	943)
Earnings before interest and tax (EBIT)	15,745)	14,837)	13,696)	14,555)	15,430)	13,982)
Add: Depreciation, amortization, and other	1,726)	1,957)	1,862)	1,808)	1,897)	2,192)
Earnings before interest, tax, depreciation and amortization (EBITDA)	17,471)	16,794)	15,558)	16,363)	17,327)	16,174)

Based on: 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).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Cisco Systems Inc. EBITDA increased from 2021 to 2022 and from 2022 to 2023.

Cisco Systems Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	176,039)
Earnings before interest, tax, depreciation and amortization (EBITDA)	17,471)
Valuation Ratio
EV/EBITDA	10.08
Benchmarks
EV/EBITDA, Competitors¹
Apple Inc.	20.63
Arista Networks Inc.	31.19
Super Micro Computer Inc.	60.06
EV/EBITDA, Sector
Technology Hardware & Equipment	19.78
EV/EBITDA, Industry
Information Technology	29.09

Based on: 10-K (reporting date: 2023-07-29).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Cisco Systems Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019	Jul 28, 2018
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	212,520)	176,666)	234,167)	158,523)	196,810)	195,154)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	17,471)	16,794)	15,558)	16,363)	17,327)	16,174)
Valuation Ratio
EV/EBITDA³	12.16	10.52	15.05	9.69	11.36	12.07
Benchmarks
EV/EBITDA, Competitors⁴
Apple Inc.	21.66	19.15	20.47	23.12	13.59	11.54
Arista Networks Inc.	31.29	24.52	37.28	26.95	16.05	—
Super Micro Computer Inc.	16.77	10.49	11.20	10.64	7.73	10.02
EV/EBITDA, Sector
Technology Hardware & Equipment	20.69	18.24	19.98	20.90	13.22	—
EV/EBITDA, Industry
Information Technology	23.37	18.28	20.37	19.53	14.42	—

Based on: 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).

¹ See details »

² See details »

³ 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 212,520 ÷ 17,471 = 12.16

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Cisco Systems Inc. EV/EBITDA ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Cisco Systems Inc. (NASDAQ:CSCO)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical