Cisco Systems annual operating margin
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2025
Cisco Systems Operating Margin Growth & History (CSCO)
Cisco Systems's operating margin was 20.76% for fiscal 2025.
View full Cisco Systems company overviewCisco Systems annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-07-26 | 20.76% | −1.88 pp |
| 2024 | 2024-07-27 | 22.64% | −3.73 pp |
| 2023 | 2023-07-29 | 26.37% | −0.72 pp |
| 2022 | 2022-07-30 | 27.09% | +1.33 pp |
| 2021 | 2021-07-31 | 25.76% | −1.87 pp |
| 2020 | 2020-07-25 | 27.63% | +0.23 pp |
| 2019 | 2019-07-27 | 27.39% | +2.44 pp |
| 2018 | 2018-07-28 | 24.95% | +0.01 pp |
| 2017 | 2017-07-29 | 24.94% | −0.77 pp |
| 2016 | 2016-07-30 | 25.71% | +3.80 pp |
| 2015 | 2015-07-25 | 21.91% | +2.08 pp |
| 2014 | 2014-07-26 | 19.82% | −3.21 pp |
| 2013 | 2013-07-27 | 23.03% | +1.18 pp |
| 2012 | 2012-07-28 | 21.85% | +4.09 pp |
| 2011 | 2011-07-30 | 17.76% | −5.13 pp |
| 2010 | 2010-07-31 | 22.89% | +2.61 pp |
| 2009 | 2009-07-25 | 20.27% | −3.61 pp |
| 2008 | 2008-07-26 | 23.88% | — |
Cisco Systems quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q3 2026 | 2026-04-25 | 25.00% | +2.37 pp |
| Q2 2026 | 2026-01-24 | 24.63% | +2.38 pp |
| Q1 2026 | 2025-10-25 | 22.60% | +5.56 pp |
| Q4 2025 | 2025-07-26 | 21.04% | +1.85 pp |
| Q3 2025 | 2025-04-26 | 22.63% | +5.38 pp |
| Q2 2025 | 2025-01-25 | 22.25% | −1.95 pp |
| Q1 2025 | 2024-10-26 | 17.04% | −12.12 pp |
| Q4 2024 | 2024-07-27 | 19.19% | −8.78 pp |
| Q3 2024 | 2024-04-27 | 17.25% | −9.83 pp |
| Q2 2024 | 2024-01-27 | 24.20% | −0.02 pp |
| Q1 2024 | 2023-10-28 | 29.15% | +3.18 pp |
| Q4 2023 | 2023-07-29 | 27.97% | +1.77 pp |
| Q3 2023 | 2023-04-29 | 27.08% | −1.05 pp |
| Q2 2023 | 2023-01-28 | 24.22% | −3.19 pp |
| Q1 2023 | 2022-10-29 | 25.97% | −0.68 pp |
| Q4 2022 | 2022-07-30 | 26.21% | −1.03 pp |
| Q3 2022 | 2022-04-30 | 28.13% | +1.06 pp |
| Q2 2022 | 2022-01-29 | 27.41% | +0.47 pp |
| Q1 2022 | 2021-10-30 | 26.65% | +5.11 pp |
| Q4 2021 | 2021-07-31 | 27.24% | +0.52 pp |
| Q3 2021 | 2021-05-01 | 27.06% | −1.43 pp |
| Q2 2021 | 2021-01-23 | 26.95% | −1.21 pp |
| Q1 2021 | 2020-10-24 | 21.54% | −5.65 pp |
| Q4 2020 | 2020-07-25 | 26.72% | −0.76 pp |
| Q3 2020 | 2020-04-25 | 28.49% | +1.38 pp |
| Q2 2020 | 2020-01-25 | 28.15% | +2.36 pp |
| Q1 2020 | 2019-10-26 | 27.20% | −1.91 pp |
| Q4 2019 | 2019-07-27 | 27.48% | +1.43 pp |
| Q3 2019 | 2019-04-27 | 27.11% | +1.96 pp |
| Q2 2019 | 2019-01-26 | 25.80% | −0.05 pp |
| Q1 2019 | 2018-10-27 | 29.11% | +6.40 pp |
| Q4 2018 | 2018-07-28 | 26.05% | +1.04 pp |
| Q3 2018 | 2018-04-28 | 25.15% | −1.39 pp |
| Q2 2018 | 2018-01-27 | 25.85% | +0.87 pp |
| Q1 2018 | 2017-10-28 | 22.71% | −0.58 pp |
| Q4 2017 | 2017-07-29 | 25.01% | −1.13 pp |
| Q3 2017 | 2017-04-29 | 26.54% | +1.67 pp |
| Q2 2017 | 2017-01-28 | 24.98% | −2.64 pp |
| Q1 2017 | 2016-10-29 | 23.29% | −0.99 pp |
| Q4 2016 | 2016-07-30 | 26.14% | +3.70 pp |
| Q3 2016 | 2016-04-30 | 24.87% | +0.77 pp |
| Q2 2016 | 2016-01-23 | 27.62% | +5.65 pp |
| Q1 2016 | 2015-10-24 | 24.28% | +5.15 pp |
| Q4 2015 | 2015-07-25 | 22.43% | +0.74 pp |
| Q3 2015 | 2015-04-25 | 24.10% | +2.08 pp |
| Q2 2015 | 2015-01-24 | 21.97% | +7.02 pp |
| Q1 2015 | 2014-10-25 | 19.13% | −1.19 pp |
| Q4 2014 | 2014-07-26 | 21.70% | −0.97 pp |
| Q3 2014 | 2014-04-26 | 22.02% | −2.06 pp |
| Q2 2014 | 2014-01-25 | 14.94% | −8.11 pp |
| Q1 2014 | 2013-10-26 | 20.31% | −2.01 pp |
| Q4 2013 | 2013-07-27 | 22.66% | +2.38 pp |
| Q3 2013 | 2013-04-27 | 24.08% | +0.35 pp |
| Q2 2013 | 2013-01-26 | 23.05% | −0.66 pp |
| Q1 2013 | 2012-10-27 | 22.32% | +2.69 pp |
| Q4 2012 | 2012-07-28 | 20.28% | +7.28 pp |
| Q3 2012 | 2012-04-28 | 23.73% | +3.64 pp |
| Q2 2012 | 2012-01-28 | 23.72% | +7.54 pp |
| Q1 2012 | 2011-10-29 | 19.63% | −2.24 pp |
| Q4 2011 | 2011-07-30 | 13.01% | −8.45 pp |
| Q3 2011 | 2011-04-30 | 20.09% | −2.53 pp |
| Q2 2011 | 2011-01-29 | 16.18% | −7.97 pp |
| Q1 2011 | 2010-10-30 | 21.87% | −1.68 pp |
| Q4 2010 | 2010-07-31 | 21.46% | +4.35 pp |
| Q3 2010 | 2010-05-01 | 22.62% | +2.93 pp |
| Q2 2010 | 2010-01-23 | 24.15% | +4.64 pp |
| Q1 2010 | 2009-10-24 | 23.55% | −0.48 pp |
| Q4 2009 | 2009-07-25 | 17.11% | — |
| Q3 2009 | 2009-04-25 | 19.69% | — |
| Q2 2009 | 2009-01-24 | 19.51% | — |
| Q1 2009 | 2008-10-25 | 24.02% | — |
Cisco Systems operating margin trends
Over the last five reported fiscal years, Cisco Systems's operating margin decreased from 27.63% to 20.76%, a change of −6.87 percentage points. The latest reported quarter, Q3 2026, shows 25.00%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Cisco Systems filings at SEC.gov ↗