Price to FCFE (P/FCFE)
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Geographic Areas
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Free Cash Flow to Equity (FCFE)
Cisco Systems Inc., FCFE calculation
US$ in millions
Based on: 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).
- Net cash provided by operating activities
- The net cash flow generated from operating activities exhibited a fluctuating trend over the observed periods. It remained relatively stable between 2020 and 2021, with values close to 15.4 billion US dollars. However, a decline occurred in 2022, dropping to approximately 13.2 billion. This was followed by a notable increase in 2023, reaching nearly 19.9 billion, marking the highest value in the span. Subsequently, the figure decreased again to around 10.9 billion in 2024 but recovered somewhat in 2025 to approximately 14.2 billion. Overall, the operating cash flow showed volatility with significant peaks in 2021 and 2023.
- Free cash flow to equity (FCFE)
- The FCFE demonstrated a more pronounced variability across the same timeframe. Starting at about 4.5 billion in 2020, it saw a substantial increase to roughly 11.8 billion in 2021. This level slightly decreased in 2022 to around 10.9 billion but rebounded strongly in 2023, climbing to approximately 17.9 billion. The flow peaked significantly in 2024 at nearly 29.5 billion, representing the highest value recorded, before descending sharply to about 10.5 billion in 2025. The pattern indicates periods of strong equity cash flow generation interspersed with considerable declines, suggesting variability in cash distribution to equity holders or changes in capital expenditure or financing activities.
Price to FCFE Ratio, Current
Cisco Systems Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Apple Inc. | |
| Arista Networks Inc. | |
| Dell Technologies Inc. | |
| Super Micro Computer Inc. | |
| P/FCFE, Sector | |
| Technology Hardware & Equipment | |
| P/FCFE, Industry | |
| Information Technology | |
Based on: 10-K (reporting date: 2025-07-26).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Cisco Systems Inc., historical P/FCFE calculation, comparison to benchmarks
| Jul 26, 2025 | Jul 27, 2024 | Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Jul 25, 2020 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in millions)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| Apple Inc. | |||||||
| Arista Networks Inc. | |||||||
| Dell Technologies Inc. | |||||||
| Super Micro Computer Inc. | |||||||
| P/FCFE, Sector | |||||||
| Technology Hardware & Equipment | |||||||
| P/FCFE, Industry | |||||||
| Information Technology | |||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Cisco Systems Inc. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price of the company demonstrates considerable volatility over the examined years. Beginning at $40.95 in mid-2020, the share price increased to $58.60 by mid-2021, followed by a decline to $45.37 in mid-2022. Subsequently, the share price rose again to $56.79 in mid-2023 but experienced another decrease to $49.13 in mid-2024. By mid-2025, the share price showed a notable increase reaching $67.67, the highest level in the observed period.
- Free Cash Flow to Equity (FCFE) per Share
- FCFE per share reveals a fluctuating but generally upward trend with some exceptions. Starting at $1.05 in 2020, FCFE per share increased to $2.79 by 2021, slightly decreased to $2.64 in 2022, then surged significantly to $4.42 in 2023 and peaked at $7.40 in 2024. However, in 2025, FCFE per share declined to $2.65. This decline after reaching the peak suggests potential volatility or one-off factors affecting cash generation.
- Price to FCFE Ratio (P/FCFE)
- The P/FCFE ratio exhibits a general downward trend initially, indicating improving valuation relative to free cash flow, followed by a sharp increase in the final year. From 38.82 in 2020, the ratio decreased steadily to 21.02 in 2021, 17.18 in 2022, 12.84 in 2023, and reached its lowest at 6.64 in 2024. This suggests the market was pricing the equity more attractively relative to free cash flow toward 2024. Nevertheless, the sudden increase to 25.54 in 2025 indicates a revaluation or market adjustment, possibly reflecting the decline in FCFE per share at that time or a rise in share price.
- Overall Insights
- The company experienced fluctuating market valuations and cash flow generation over the six-year period. The share price volatility corresponds partially with movements in FCFE per share, but not perfectly, indicating other factors influencing market sentiment. The sharp decline in the P/FCFE ratio through 2024 suggests enhanced market confidence or improved free cash flow productivity until this point, followed by a significant reversal in 2025, likely driven by FCFE volatility. Monitoring future FCFE stability and market perception will be crucial to assess valuation trends going forward.