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Side-by-side financial comparison of Cisco (CSCO) and Honeywell (HON). Click either name above to swap in a different company.
Cisco is the larger business by last-quarter revenue ($15.3B vs $9.1B, roughly 1.7× Honeywell). Cisco runs the higher net margin — 20.7% vs 8.7%, a 12.0% gap on every dollar of revenue. On growth, Cisco posted the faster year-over-year revenue change (9.7% vs 2.0%). Cisco produced more free cash flow last quarter ($1.5B vs $56.0M). Over the past eight quarters, Cisco's revenue compounded faster (9.9% CAGR vs -2.3%).
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.
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building automation, industrial automation, and energy and sustainability solutions (ESS). Honeywell also owns and operates Sandia National Laboratories under contract with the U.S. Department of Energy. Honeywell is a Fortune 500 company, ranked 115th in 2023.
CSCO vs HON — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $9.1B |
| Net Profit | $3.2B | $795.0M |
| Gross Margin | 65.0% | — |
| Operating Margin | 24.6% | 16.1% |
| Net Margin | 20.7% | 8.7% |
| Revenue YoY | 9.7% | 2.0% |
| Net Profit YoY | 30.8% | -45.8% |
| EPS (diluted) | $0.80 | $1.29 |
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 | $9.1B | ||
| Q4 25 | $14.9B | $6.9B | ||
| Q3 25 | $14.7B | $10.4B | ||
| Q2 25 | $14.1B | $10.4B | ||
| Q1 25 | $14.0B | $9.8B | ||
| Q4 24 | $13.8B | $10.1B | ||
| Q3 24 | $13.6B | $9.7B | ||
| Q2 24 | $12.7B | $9.6B |
| Q1 26 | $3.2B | $795.0M | ||
| Q4 25 | $2.9B | $-115.0M | ||
| Q3 25 | $2.5B | $1.8B | ||
| Q2 25 | $2.5B | $1.6B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $2.7B | $1.3B | ||
| Q3 24 | $2.2B | $1.4B | ||
| Q2 24 | $1.9B | $1.5B |
| Q1 26 | 65.0% | — | ||
| Q4 25 | 65.5% | 36.1% | ||
| Q3 25 | 63.2% | 31.1% | ||
| Q2 25 | 65.6% | 35.4% | ||
| Q1 25 | 65.1% | 35.2% | ||
| Q4 24 | 65.9% | 36.4% | ||
| Q3 24 | 64.4% | 35.1% | ||
| Q2 24 | 65.1% | 35.0% |
| Q1 26 | 24.6% | 16.1% | ||
| Q4 25 | 22.6% | 16.0% | ||
| Q3 25 | 21.0% | 23.1% | ||
| Q2 25 | 22.6% | 22.9% | ||
| Q1 25 | 22.3% | 23.0% | ||
| Q4 24 | 17.0% | 21.6% | ||
| Q3 24 | 19.2% | 23.6% | ||
| Q2 24 | 17.2% | 23.0% |
| Q1 26 | 20.7% | 8.7% | ||
| Q4 25 | 19.2% | -1.7% | ||
| Q3 25 | 17.4% | 17.5% | ||
| Q2 25 | 17.6% | 15.2% | ||
| Q1 25 | 17.4% | 14.8% | ||
| Q4 24 | 19.6% | 12.7% | ||
| Q3 24 | 15.8% | 14.5% | ||
| Q2 24 | 14.8% | 16.1% |
| Q1 26 | $0.80 | $1.29 | ||
| Q4 25 | $0.72 | $-0.17 | ||
| Q3 25 | $0.64 | $2.86 | ||
| Q2 25 | $0.62 | $2.45 | ||
| Q1 25 | $0.61 | $2.22 | ||
| Q4 24 | $0.68 | $1.96 | ||
| Q3 24 | $0.54 | $2.16 | ||
| Q2 24 | $0.46 | $2.36 |
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 | $12.4B |
| Total DebtLower is stronger | $24.6B | $32.1B |
| Stockholders' EquityBook value | $47.7B | — |
| Total Assets | $123.4B | $74.0B |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | $12.4B | ||
| Q4 25 | $15.7B | $12.9B | ||
| Q3 25 | $16.1B | $13.4B | ||
| Q2 25 | $15.6B | $10.7B | ||
| Q1 25 | $16.9B | $10.1B | ||
| Q4 24 | $18.7B | $11.0B | ||
| Q3 24 | $17.9B | $10.9B | ||
| Q2 24 | $18.8B | $9.8B |
| Q1 26 | $24.6B | $32.1B | ||
| Q4 25 | $24.6B | $27.1B | ||
| Q3 25 | $24.6B | $30.1B | ||
| Q2 25 | $25.1B | $30.2B | ||
| Q1 25 | $20.1B | $25.7B | ||
| Q4 24 | $20.1B | $25.5B | ||
| Q3 24 | $20.1B | $25.9B | ||
| Q2 24 | $20.1B | $20.9B |
| Q1 26 | $47.7B | — | ||
| Q4 25 | $46.9B | $13.9B | ||
| Q3 25 | $46.8B | $16.8B | ||
| Q2 25 | $45.9B | $16.1B | ||
| Q1 25 | $45.5B | $17.5B | ||
| Q4 24 | $45.3B | $18.6B | ||
| Q3 24 | $45.5B | $17.4B | ||
| Q2 24 | $45.8B | $16.9B |
| Q1 26 | $123.4B | $74.0B | ||
| Q4 25 | $121.1B | $73.7B | ||
| Q3 25 | $122.3B | $80.9B | ||
| Q2 25 | $119.8B | $78.4B | ||
| Q1 25 | $121.4B | $75.2B | ||
| Q4 24 | $123.3B | $75.2B | ||
| Q3 24 | $124.4B | $73.5B | ||
| Q2 24 | $123.0B | $69.3B |
| Q1 26 | 0.52× | — | ||
| Q4 25 | 0.53× | 1.95× | ||
| Q3 25 | 0.53× | 1.79× | ||
| Q2 25 | 0.55× | 1.87× | ||
| Q1 25 | 0.44× | 1.47× | ||
| Q4 24 | 0.44× | 1.37× | ||
| Q3 24 | 0.44× | 1.49× | ||
| Q2 24 | 0.44× | 1.23× |
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 | $0 |
| Free Cash FlowOCF − Capex | $1.5B | $56.0M |
| FCF MarginFCF / Revenue | 10.0% | 0.6% |
| Capex IntensityCapex / Revenue | 1.8% | 2.4% |
| Cash ConversionOCF / Net Profit | 0.57× | 0.00× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $5.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | $0 | ||
| Q4 25 | $3.2B | $1.2B | ||
| Q3 25 | $4.2B | $3.3B | ||
| Q2 25 | $4.1B | $1.3B | ||
| Q1 25 | $2.2B | $597.0M | ||
| Q4 24 | $3.7B | $2.3B | ||
| Q3 24 | $3.7B | $2.0B | ||
| Q2 24 | $4.0B | $1.4B |
| Q1 26 | $1.5B | $56.0M | ||
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $4.0B | $2.9B | ||
| Q2 25 | $3.8B | $1.0B | ||
| Q1 25 | $2.0B | $346.0M | ||
| Q4 24 | $3.4B | $1.9B | ||
| Q3 24 | $3.5B | $1.7B | ||
| Q2 24 | $3.8B | $1.1B |
| Q1 26 | 10.0% | 0.6% | ||
| Q4 25 | 19.4% | 16.7% | ||
| Q3 25 | 27.4% | 28.0% | ||
| Q2 25 | 26.8% | 9.8% | ||
| Q1 25 | 14.5% | 3.5% | ||
| Q4 24 | 24.9% | 18.7% | ||
| Q3 24 | 25.9% | 17.7% | ||
| Q2 24 | 29.9% | 11.6% |
| Q1 26 | 1.8% | 2.4% | ||
| Q4 25 | 2.2% | 0.8% | ||
| Q3 25 | 1.5% | 3.6% | ||
| Q2 25 | 1.8% | 2.9% | ||
| Q1 25 | 1.5% | 2.6% | ||
| Q4 24 | 1.6% | 3.9% | ||
| Q3 24 | 1.5% | 2.9% | ||
| Q2 24 | 1.3% | 2.7% |
| Q1 26 | 0.57× | 0.00× | ||
| Q4 25 | 1.12× | — | ||
| Q3 25 | 1.66× | 1.80× | ||
| Q2 25 | 1.63× | 0.84× | ||
| Q1 25 | 0.92× | 0.41× | ||
| Q4 24 | 1.35× | 1.78× | ||
| Q3 24 | 1.73× | 1.41× | ||
| Q2 24 | 2.11× | 0.89× |
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% |
HON
| Aerospace Technologies | $4.3B | 47% |
| Building Automation | $1.9B | 21% |
| Process Automation and Technology | $1.5B | 17% |
| Industrial Automation | $1.4B | 16% |
| Corporate and All Other | $5.0M | 0% |
