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Side-by-side financial comparison of Cisco (CSCO) and Mastercard (MA). Click either name above to swap in a different company.
Cisco is the larger business by last-quarter revenue ($15.3B vs $8.8B, roughly 1.7× Mastercard). Mastercard runs the higher net margin — 46.1% vs 20.7%, a 25.4% gap on every dollar of revenue. On growth, Mastercard posted the faster year-over-year revenue change (17.6% vs 9.7%). Mastercard produced more free cash flow last quarter ($4.9B vs $1.5B). Over the past eight quarters, Mastercard's revenue compounded faster (17.8% 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.
Mastercard Inc. is an American multinational payment card services corporation headquartered in Purchase, New York. It offers a range of payment transaction processing and other related-payment services. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the Mastercard-brand debit, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.
CSCO vs MA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $8.8B |
| Net Profit | $3.2B | $4.1B |
| Gross Margin | 65.0% | — |
| Operating Margin | 24.6% | 55.8% |
| Net Margin | 20.7% | 46.1% |
| Revenue YoY | 9.7% | 17.6% |
| Net Profit YoY | 30.8% | 21.5% |
| EPS (diluted) | $0.80 | $4.52 |
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 | $8.8B | ||
| Q3 25 | $14.7B | $8.6B | ||
| Q2 25 | $14.1B | $8.1B | ||
| Q1 25 | $14.0B | $7.3B | ||
| Q4 24 | $13.8B | $7.5B | ||
| Q3 24 | $13.6B | $7.4B | ||
| Q2 24 | $12.7B | $7.0B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.9B | $4.1B | ||
| Q3 25 | $2.5B | $3.9B | ||
| Q2 25 | $2.5B | $3.7B | ||
| Q1 25 | $2.4B | $3.3B | ||
| Q4 24 | $2.7B | $3.3B | ||
| Q3 24 | $2.2B | $3.3B | ||
| Q2 24 | $1.9B | $3.3B |
| 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% | 55.8% | ||
| Q3 25 | 21.0% | 58.8% | ||
| Q2 25 | 22.6% | 58.7% | ||
| Q1 25 | 22.3% | 57.2% | ||
| Q4 24 | 17.0% | 52.6% | ||
| Q3 24 | 19.2% | 54.3% | ||
| Q2 24 | 17.2% | 58.0% |
| Q1 26 | 20.7% | — | ||
| Q4 25 | 19.2% | 46.1% | ||
| Q3 25 | 17.4% | 45.7% | ||
| Q2 25 | 17.6% | 45.5% | ||
| Q1 25 | 17.4% | 45.2% | ||
| Q4 24 | 19.6% | 44.6% | ||
| Q3 24 | 15.8% | 44.3% | ||
| Q2 24 | 14.8% | 46.8% |
| Q1 26 | $0.80 | — | ||
| Q4 25 | $0.72 | $4.52 | ||
| Q3 25 | $0.64 | $4.34 | ||
| Q2 25 | $0.62 | $4.07 | ||
| Q1 25 | $0.61 | $3.59 | ||
| Q4 24 | $0.68 | $3.64 | ||
| Q3 24 | $0.54 | $3.53 | ||
| Q2 24 | $0.46 | $3.50 |
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 | $10.6B |
| Total DebtLower is stronger | $24.6B | — |
| Stockholders' EquityBook value | $47.7B | $7.7B |
| Total Assets | $123.4B | $54.2B |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | — | ||
| Q4 25 | $15.7B | $10.6B | ||
| Q3 25 | $16.1B | $10.3B | ||
| Q2 25 | $15.6B | $9.0B | ||
| Q1 25 | $16.9B | $7.6B | ||
| Q4 24 | $18.7B | $8.4B | ||
| Q3 24 | $17.9B | $11.1B | ||
| Q2 24 | $18.8B | $7.0B |
| 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 | $7.7B | ||
| Q3 25 | $46.8B | $7.9B | ||
| Q2 25 | $45.9B | $7.9B | ||
| Q1 25 | $45.5B | $6.7B | ||
| Q4 24 | $45.3B | $6.5B | ||
| Q3 24 | $45.5B | $7.4B | ||
| Q2 24 | $45.8B | $7.4B |
| Q1 26 | $123.4B | — | ||
| Q4 25 | $121.1B | $54.2B | ||
| Q3 25 | $122.3B | $53.3B | ||
| Q2 25 | $119.8B | $51.4B | ||
| Q1 25 | $121.4B | $48.5B | ||
| Q4 24 | $123.3B | $48.1B | ||
| Q3 24 | $124.4B | $47.2B | ||
| Q2 24 | $123.0B | $42.3B |
| 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 | $5.0B |
| Free Cash FlowOCF − Capex | $1.5B | $4.9B |
| FCF MarginFCF / Revenue | 10.0% | 55.5% |
| Capex IntensityCapex / Revenue | 1.8% | 1.3% |
| Cash ConversionOCF / Net Profit | 0.57× | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $17.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $3.2B | $5.0B | ||
| Q3 25 | $4.2B | $5.7B | ||
| Q2 25 | $4.1B | $4.6B | ||
| Q1 25 | $2.2B | $2.4B | ||
| Q4 24 | $3.7B | $4.8B | ||
| Q3 24 | $3.7B | $5.1B | ||
| Q2 24 | $4.0B | $3.1B |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $2.9B | $4.9B | ||
| Q3 25 | $4.0B | $5.5B | ||
| Q2 25 | $3.8B | $4.6B | ||
| Q1 25 | $2.0B | $2.2B | ||
| Q4 24 | $3.4B | $4.7B | ||
| Q3 24 | $3.5B | $5.0B | ||
| Q2 24 | $3.8B | $3.0B |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 19.4% | 55.5% | ||
| Q3 25 | 27.4% | 63.8% | ||
| Q2 25 | 26.8% | 56.1% | ||
| Q1 25 | 14.5% | 30.6% | ||
| Q4 24 | 24.9% | 63.3% | ||
| Q3 24 | 25.9% | 68.2% | ||
| Q2 24 | 29.9% | 43.4% |
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.2% | 1.3% | ||
| Q3 25 | 1.5% | 2.1% | ||
| Q2 25 | 1.8% | 0.5% | ||
| Q1 25 | 1.5% | 2.2% | ||
| Q4 24 | 1.6% | 1.3% | ||
| Q3 24 | 1.5% | 1.5% | ||
| Q2 24 | 1.3% | 1.7% |
| Q1 26 | 0.57× | — | ||
| Q4 25 | 1.12× | 1.23× | ||
| Q3 25 | 1.66× | 1.44× | ||
| Q2 25 | 1.63× | 1.24× | ||
| Q1 25 | 0.92× | 0.73× | ||
| Q4 24 | 1.35× | 1.45× | ||
| Q3 24 | 1.73× | 1.57× | ||
| Q2 24 | 2.11× | 0.96× |
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% |
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
