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Side-by-side financial comparison of Cisco (CSCO) and F5, Inc. (FFIV). Click either name above to swap in a different company.
Cisco is the larger business by last-quarter revenue ($15.3B vs $822.5M, roughly 18.7× F5, Inc.). F5, Inc. runs the higher net margin — 21.9% vs 20.7%, a 1.2% gap on every dollar of revenue. On growth, Cisco posted the faster year-over-year revenue change (9.7% vs 7.3%). Cisco produced more free cash flow last quarter ($1.5B vs $149.5M). Over the past eight quarters, Cisco's revenue compounded faster (9.9% CAGR vs 9.9%).
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.
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
CSCO vs FFIV — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $822.5M |
| Net Profit | $3.2B | $180.1M |
| Gross Margin | 65.0% | 81.5% |
| Operating Margin | 24.6% | 26.0% |
| Net Margin | 20.7% | 21.9% |
| Revenue YoY | 9.7% | 7.3% |
| Net Profit YoY | 30.8% | 8.2% |
| EPS (diluted) | $0.80 | $3.10 |
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 | $822.5M | ||
| Q3 25 | $14.7B | $810.1M | ||
| Q2 25 | $14.1B | $780.4M | ||
| Q1 25 | $14.0B | $731.1M | ||
| Q4 24 | $13.8B | $766.5M | ||
| Q3 24 | $13.6B | $746.7M | ||
| Q2 24 | $12.7B | $695.5M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.9B | $180.1M | ||
| Q3 25 | $2.5B | $190.5M | ||
| Q2 25 | $2.5B | $189.9M | ||
| Q1 25 | $2.4B | $145.5M | ||
| Q4 24 | $2.7B | $166.4M | ||
| Q3 24 | $2.2B | $165.3M | ||
| Q2 24 | $1.9B | $144.1M |
| Q1 26 | 65.0% | — | ||
| Q4 25 | 65.5% | 81.5% | ||
| Q3 25 | 63.2% | 82.2% | ||
| Q2 25 | 65.6% | 81.0% | ||
| Q1 25 | 65.1% | 80.7% | ||
| Q4 24 | 65.9% | 81.7% | ||
| Q3 24 | 64.4% | 80.8% | ||
| Q2 24 | 65.1% | 80.4% |
| Q1 26 | 24.6% | — | ||
| Q4 25 | 22.6% | 26.0% | ||
| Q3 25 | 21.0% | 25.4% | ||
| Q2 25 | 22.6% | 25.2% | ||
| Q1 25 | 22.3% | 21.7% | ||
| Q4 24 | 17.0% | 26.8% | ||
| Q3 24 | 19.2% | 25.6% | ||
| Q2 24 | 17.2% | 23.4% |
| Q1 26 | 20.7% | — | ||
| Q4 25 | 19.2% | 21.9% | ||
| Q3 25 | 17.4% | 23.5% | ||
| Q2 25 | 17.6% | 24.3% | ||
| Q1 25 | 17.4% | 19.9% | ||
| Q4 24 | 19.6% | 21.7% | ||
| Q3 24 | 15.8% | 22.1% | ||
| Q2 24 | 14.8% | 20.7% |
| Q1 26 | $0.80 | — | ||
| Q4 25 | $0.72 | $3.10 | ||
| Q3 25 | $0.64 | $3.25 | ||
| Q2 25 | $0.62 | $3.25 | ||
| Q1 25 | $0.61 | $2.48 | ||
| Q4 24 | $0.68 | $2.82 | ||
| Q3 24 | $0.54 | $2.79 | ||
| Q2 24 | $0.46 | $2.44 |
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 | $1.2B |
| Total DebtLower is stronger | $24.6B | — |
| Stockholders' EquityBook value | $47.7B | $3.5B |
| Total Assets | $123.4B | $6.3B |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | — | ||
| Q4 25 | $15.7B | $1.2B | ||
| Q3 25 | $16.1B | $1.3B | ||
| Q2 25 | $15.6B | $1.4B | ||
| Q1 25 | $16.9B | $1.3B | ||
| Q4 24 | $18.7B | $1.2B | ||
| Q3 24 | $17.9B | $1.1B | ||
| Q2 24 | $18.8B | $935.6M |
| Q1 26 | $24.6B | — | ||
| Q4 25 | $24.6B | — | ||
| Q3 25 | $24.6B | — | ||
| Q2 25 | $25.1B | — | ||
| Q1 25 | $20.1B | — | ||
| Q4 24 | $20.1B | — | ||
| Q3 24 | $20.1B | — | ||
| Q2 24 | $20.1B | — |
| Q1 26 | $47.7B | — | ||
| Q4 25 | $46.9B | $3.5B | ||
| Q3 25 | $46.8B | $3.6B | ||
| Q2 25 | $45.9B | $3.5B | ||
| Q1 25 | $45.5B | $3.3B | ||
| Q4 24 | $45.3B | $3.2B | ||
| Q3 24 | $45.5B | $3.1B | ||
| Q2 24 | $45.8B | $3.0B |
| Q1 26 | $123.4B | — | ||
| Q4 25 | $121.1B | $6.3B | ||
| Q3 25 | $122.3B | $6.3B | ||
| Q2 25 | $119.8B | $6.1B | ||
| Q1 25 | $121.4B | $5.9B | ||
| Q4 24 | $123.3B | $5.9B | ||
| Q3 24 | $124.4B | $5.6B | ||
| Q2 24 | $123.0B | $5.4B |
| Q1 26 | 0.52× | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.44× | — | ||
| Q2 24 | 0.44× | — |
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 | $159.2M |
| Free Cash FlowOCF − Capex | $1.5B | $149.5M |
| FCF MarginFCF / Revenue | 10.0% | 18.2% |
| Capex IntensityCapex / Revenue | 1.8% | 1.2% |
| Cash ConversionOCF / Net Profit | 0.57× | 0.88× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $861.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $3.2B | $159.2M | ||
| Q3 25 | $4.2B | $208.1M | ||
| Q2 25 | $4.1B | $282.2M | ||
| Q1 25 | $2.2B | $256.6M | ||
| Q4 24 | $3.7B | $202.8M | ||
| Q3 24 | $3.7B | $246.5M | ||
| Q2 24 | $4.0B | $159.0M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $2.9B | $149.5M | ||
| Q3 25 | $4.0B | $191.9M | ||
| Q2 25 | $3.8B | $273.7M | ||
| Q1 25 | $2.0B | $246.1M | ||
| Q4 24 | $3.4B | $194.7M | ||
| Q3 24 | $3.5B | $240.4M | ||
| Q2 24 | $3.8B | $153.1M |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 19.4% | 18.2% | ||
| Q3 25 | 27.4% | 23.7% | ||
| Q2 25 | 26.8% | 35.1% | ||
| Q1 25 | 14.5% | 33.7% | ||
| Q4 24 | 24.9% | 25.4% | ||
| Q3 24 | 25.9% | 32.2% | ||
| Q2 24 | 29.9% | 22.0% |
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.2% | 1.2% | ||
| Q3 25 | 1.5% | 2.0% | ||
| Q2 25 | 1.8% | 1.1% | ||
| Q1 25 | 1.5% | 1.4% | ||
| Q4 24 | 1.6% | 1.1% | ||
| Q3 24 | 1.5% | 0.8% | ||
| Q2 24 | 1.3% | 0.8% |
| Q1 26 | 0.57× | — | ||
| Q4 25 | 1.12× | 0.88× | ||
| Q3 25 | 1.66× | 1.09× | ||
| Q2 25 | 1.63× | 1.49× | ||
| Q1 25 | 0.92× | 1.76× | ||
| Q4 24 | 1.35× | 1.22× | ||
| Q3 24 | 1.73× | 1.49× | ||
| Q2 24 | 2.11× | 1.10× |
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% |
FFIV
| Services | $412.2M | 50% |
| Products | $410.3M | 50% |
