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Side-by-side financial comparison of Cisco (CSCO) and FedEx (FDX). Click either name above to swap in a different company.
FedEx is the larger business by last-quarter revenue ($23.5B vs $15.3B, roughly 1.5× Cisco). Cisco runs the higher net margin — 20.7% vs 4.1%, a 16.6% gap on every dollar of revenue. On growth, Cisco posted the faster year-over-year revenue change (9.7% vs 6.8%). Cisco produced more free cash flow last quarter ($1.5B vs $1.2B). Over the past eight quarters, Cisco's revenue compounded faster (9.9% CAGR vs 3.9%).
Cisco Systems, Inc. is an American multinational digital communications technology conglomerate corporation headquartered in San Jose, California. Cisco develops, manufactures, and sells networking hardware, software, telecommunications equipment and other high-technology services and products.
FedEx Corporation, originally known as Federal Express Corporation, is an American multinational conglomerate holding company specializing in transportation, e-commerce, and business services. The company is headquartered in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of its original air division, Federal Express, which operated under this name from 1973 until 1994.
CSCO vs FDX — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $23.5B |
| Net Profit | $3.2B | $956.0M |
| Gross Margin | 65.0% | — |
| Operating Margin | 24.6% | 5.9% |
| Net Margin | 20.7% | 4.1% |
| Revenue YoY | 9.7% | 6.8% |
| Net Profit YoY | 30.8% | 29.0% |
| EPS (diluted) | $0.80 | $4.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $15.3B | — | ||
| Q4 25 | $14.9B | $23.5B | ||
| Q3 25 | $14.7B | $22.2B | ||
| Q2 25 | $14.1B | $22.2B | ||
| Q1 25 | $14.0B | $22.2B | ||
| Q4 24 | $13.8B | $22.0B | ||
| Q3 24 | $13.6B | $21.6B | ||
| Q2 24 | $12.7B | $22.1B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.9B | $956.0M | ||
| Q3 25 | $2.5B | $824.0M | ||
| Q2 25 | $2.5B | $1.6B | ||
| Q1 25 | $2.4B | $909.0M | ||
| Q4 24 | $2.7B | $741.0M | ||
| Q3 24 | $2.2B | $794.0M | ||
| Q2 24 | $1.9B | $1.5B |
| Q1 26 | 65.0% | — | ||
| Q4 25 | 65.5% | — | ||
| Q3 25 | 63.2% | — | ||
| Q2 25 | 65.6% | — | ||
| Q1 25 | 65.1% | — | ||
| Q4 24 | 65.9% | — | ||
| Q3 24 | 64.4% | — | ||
| Q2 24 | 65.1% | — |
| Q1 26 | 24.6% | — | ||
| Q4 25 | 22.6% | 5.9% | ||
| Q3 25 | 21.0% | 5.3% | ||
| Q2 25 | 22.6% | 8.1% | ||
| Q1 25 | 22.3% | 5.8% | ||
| Q4 24 | 17.0% | 4.8% | ||
| Q3 24 | 19.2% | 5.0% | ||
| Q2 24 | 17.2% | 7.0% |
| Q1 26 | 20.7% | — | ||
| Q4 25 | 19.2% | 4.1% | ||
| Q3 25 | 17.4% | 3.7% | ||
| Q2 25 | 17.6% | 7.4% | ||
| Q1 25 | 17.4% | 4.1% | ||
| Q4 24 | 19.6% | 3.4% | ||
| Q3 24 | 15.8% | 3.7% | ||
| Q2 24 | 14.8% | 6.7% |
| Q1 26 | $0.80 | — | ||
| Q4 25 | $0.72 | $4.04 | ||
| Q3 25 | $0.64 | $3.46 | ||
| Q2 25 | $0.62 | $6.81 | ||
| Q1 25 | $0.61 | $3.76 | ||
| Q4 24 | $0.68 | $3.03 | ||
| Q3 24 | $0.54 | $3.21 | ||
| Q2 24 | $0.46 | $5.92 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.8B | $6.6B |
| Total DebtLower is stronger | $24.6B | $20.3B |
| Stockholders' EquityBook value | $47.7B | $28.1B |
| Total Assets | $123.4B | $89.2B |
| Debt / EquityLower = less leverage | 0.52× | 0.72× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | — | ||
| Q4 25 | $15.7B | $6.6B | ||
| Q3 25 | $16.1B | $6.2B | ||
| Q2 25 | $15.6B | $5.5B | ||
| Q1 25 | $16.9B | $5.1B | ||
| Q4 24 | $18.7B | $5.0B | ||
| Q3 24 | $17.9B | $5.9B | ||
| Q2 24 | $18.8B | $6.5B |
| Q1 26 | $24.6B | — | ||
| Q4 25 | $24.6B | $20.3B | ||
| Q3 25 | $24.6B | $20.3B | ||
| Q2 25 | $25.1B | $19.2B | ||
| Q1 25 | $20.1B | $19.5B | ||
| Q4 24 | $20.1B | $19.4B | ||
| Q3 24 | $20.1B | $19.7B | ||
| Q2 24 | $20.1B | $20.1B |
| Q1 26 | $47.7B | — | ||
| Q4 25 | $46.9B | $28.1B | ||
| Q3 25 | $46.8B | $27.8B | ||
| Q2 25 | $45.9B | $28.1B | ||
| Q1 25 | $45.5B | $26.7B | ||
| Q4 24 | $45.3B | $26.5B | ||
| Q3 24 | $45.5B | $27.2B | ||
| Q2 24 | $45.8B | $27.6B |
| Q1 26 | $123.4B | — | ||
| Q4 25 | $121.1B | $89.2B | ||
| Q3 25 | $122.3B | $88.4B | ||
| Q2 25 | $119.8B | $87.6B | ||
| Q1 25 | $121.4B | $85.0B | ||
| Q4 24 | $123.3B | $85.5B | ||
| Q3 24 | $124.4B | $86.7B | ||
| Q2 24 | $123.0B | $87.0B |
| Q1 26 | 0.52× | — | ||
| Q4 25 | 0.53× | 0.72× | ||
| Q3 25 | 0.53× | 0.73× | ||
| Q2 25 | 0.55× | 0.68× | ||
| Q1 25 | 0.44× | 0.73× | ||
| Q4 24 | 0.44× | 0.73× | ||
| Q3 24 | 0.44× | 0.72× | ||
| Q2 24 | 0.44× | 0.73× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.8B | $2.0B |
| Free Cash FlowOCF − Capex | $1.5B | $1.2B |
| FCF MarginFCF / Revenue | 10.0% | 5.1% |
| Capex IntensityCapex / Revenue | 1.8% | 3.2% |
| Cash ConversionOCF / Net Profit | 0.57× | 2.04× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $4.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $3.2B | $2.0B | ||
| Q3 25 | $4.2B | $1.7B | ||
| Q2 25 | $4.1B | $2.5B | ||
| Q1 25 | $2.2B | $2.0B | ||
| Q4 24 | $3.7B | $1.3B | ||
| Q3 24 | $3.7B | $1.2B | ||
| Q2 24 | $4.0B | $2.7B |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $2.9B | $1.2B | ||
| Q3 25 | $4.0B | $1.1B | ||
| Q2 25 | $3.8B | $1.0B | ||
| Q1 25 | $2.0B | $1.0B | ||
| Q4 24 | $3.4B | $500.0M | ||
| Q3 24 | $3.5B | $420.0M | ||
| Q2 24 | $3.8B | $1.5B |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 19.4% | 5.1% | ||
| Q3 25 | 27.4% | 4.9% | ||
| Q2 25 | 26.8% | 4.7% | ||
| Q1 25 | 14.5% | 4.6% | ||
| Q4 24 | 24.9% | 2.3% | ||
| Q3 24 | 25.9% | 1.9% | ||
| Q2 24 | 29.9% | 6.8% |
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.2% | 3.2% | ||
| Q3 25 | 1.5% | 2.8% | ||
| Q2 25 | 1.8% | 6.6% | ||
| Q1 25 | 1.5% | 4.5% | ||
| Q4 24 | 1.6% | 3.7% | ||
| Q3 24 | 1.5% | 3.6% | ||
| Q2 24 | 1.3% | 5.4% |
| Q1 26 | 0.57× | — | ||
| Q4 25 | 1.12× | 2.04× | ||
| Q3 25 | 1.66× | 2.08× | ||
| Q2 25 | 1.63× | 1.53× | ||
| Q1 25 | 0.92× | 2.21× | ||
| Q4 24 | 1.35× | 1.78× | ||
| Q3 24 | 1.73× | 1.49× | ||
| Q2 24 | 2.11× | 1.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSCO
| Networking | $8.3B | 54% |
| Services | $3.7B | 24% |
| Security | $2.0B | 13% |
| Collaboration | $1.1B | 7% |
| Observability | $277.0M | 2% |
FDX
| United States Ground | $9.2B | 39% |
| United States Priority | $2.8B | 12% |
| Other | $2.2B | 9% |
| Fedex Freight Segment | $2.1B | 9% |
| International Economy | $1.5B | 6% |
| Freight Revenue | $1.5B | 6% |
| United States Deferred | $1.4B | 6% |
| International Domestic | $1.3B | 5% |
| International Economy Freight | $582.0M | 2% |
| United States Freight | $304.0M | 1% |
| Other International Revenue | $240.0M | 1% |
