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Side-by-side financial comparison of Cisco (CSCO) and Motorola Solutions (MSI), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Cisco is the larger business by last-quarter revenue ($15.3B vs $3.4B, roughly 4.5× Motorola Solutions). Cisco runs the higher net margin — 20.7% vs 19.2%, a 1.5% gap on every dollar of revenue. On growth, Motorola Solutions posted the faster year-over-year revenue change (12.3% vs 9.7%). Cisco produced more free cash flow last quarter ($1.5B vs $1.1B). Over the past eight quarters, Motorola Solutions's revenue compounded faster (18.9% 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.
Motorola Solutions, Inc., is an American technology company that provides safety and security products and services. Headquartered in Chicago, Illinois, the company provides critical communications, video security, and command center technologies, used by public safety agencies and enterprises. It was formed in 2011 by the division of Motorola, Inc.
CSCO vs MSI — Head-to-Head
Income Statement — Q2 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $3.4B |
| Net Profit | $3.2B | $649.0M |
| Gross Margin | 65.0% | 52.3% |
| Operating Margin | 24.6% | 27.9% |
| Net Margin | 20.7% | 19.2% |
| Revenue YoY | 9.7% | 12.3% |
| Net Profit YoY | 30.8% | 6.2% |
| EPS (diluted) | $0.80 | $3.85 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q1 26 | $15.3B | — | ||
| Q4 25 | $14.9B | $3.4B | ||
| Q3 25 | $14.7B | $3.0B | ||
| Q2 25 | $14.1B | $2.8B | ||
| Q1 25 | $14.0B | $2.5B | ||
| Q4 24 | $13.8B | $3.0B | ||
| Q3 24 | $13.6B | $2.8B | ||
| Q2 24 | $12.7B | $2.6B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.9B | $649.0M | ||
| Q3 25 | $2.5B | $562.0M | ||
| Q2 25 | $2.5B | $513.0M | ||
| Q1 25 | $2.4B | $430.0M | ||
| Q4 24 | $2.7B | $611.0M | ||
| Q3 24 | $2.2B | $562.0M | ||
| Q2 24 | $1.9B | $443.0M |
| Q1 26 | 65.0% | — | ||
| Q4 25 | 65.5% | 52.3% | ||
| Q3 25 | 63.2% | 51.6% | ||
| Q2 25 | 65.6% | 51.1% | ||
| Q1 25 | 65.1% | 51.4% | ||
| Q4 24 | 65.9% | 51.4% | ||
| Q3 24 | 64.4% | 51.4% | ||
| Q2 24 | 65.1% | 51.0% |
| Q1 26 | 24.6% | — | ||
| Q4 25 | 22.6% | 27.9% | ||
| Q3 25 | 21.0% | 25.6% | ||
| Q2 25 | 22.6% | 25.0% | ||
| Q1 25 | 22.3% | 23.0% | ||
| Q4 24 | 17.0% | 27.0% | ||
| Q3 24 | 19.2% | 25.5% | ||
| Q2 24 | 17.2% | 24.5% |
| Q1 26 | 20.7% | — | ||
| Q4 25 | 19.2% | 19.2% | ||
| Q3 25 | 17.4% | 18.7% | ||
| Q2 25 | 17.6% | 18.6% | ||
| Q1 25 | 17.4% | 17.0% | ||
| Q4 24 | 19.6% | 20.3% | ||
| Q3 24 | 15.8% | 20.1% | ||
| Q2 24 | 14.8% | 16.9% |
| Q1 26 | $0.80 | — | ||
| Q4 25 | $0.72 | $3.85 | ||
| Q3 25 | $0.64 | $3.33 | ||
| Q2 25 | $0.62 | $3.04 | ||
| Q1 25 | $0.61 | $2.53 | ||
| Q4 24 | $0.68 | $3.57 | ||
| Q3 24 | $0.54 | $3.29 | ||
| Q2 24 | $0.46 | $2.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.8B | $1.2B |
| Total DebtLower is stronger | $24.6B | — |
| Stockholders' EquityBook value | $47.7B | $2.4B |
| Total Assets | $123.4B | $19.4B |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | $15.8B | — | ||
| Q4 25 | $15.7B | $1.2B | ||
| Q3 25 | $16.1B | $894.0M | ||
| Q2 25 | $15.6B | $3.2B | ||
| Q1 25 | $16.9B | $1.6B | ||
| Q4 24 | $18.7B | $2.1B | ||
| Q3 24 | $17.9B | $1.4B | ||
| Q2 24 | $18.8B | $1.4B |
| 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 | $2.4B | ||
| Q3 25 | $46.8B | $2.3B | ||
| Q2 25 | $45.9B | $2.0B | ||
| Q1 25 | $45.5B | $1.6B | ||
| Q4 24 | $45.3B | $1.7B | ||
| Q3 24 | $45.5B | $1.3B | ||
| Q2 24 | $45.8B | $802.0M |
| Q1 26 | $123.4B | — | ||
| Q4 25 | $121.1B | $19.4B | ||
| Q3 25 | $122.3B | $18.8B | ||
| Q2 25 | $119.8B | $16.4B | ||
| Q1 25 | $121.4B | $14.4B | ||
| Q4 24 | $123.3B | $14.6B | ||
| Q3 24 | $124.4B | $13.9B | ||
| Q2 24 | $123.0B | $13.3B |
| 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. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.8B | $1.3B |
| Free Cash FlowOCF − Capex | $1.5B | $1.1B |
| FCF MarginFCF / Revenue | 10.0% | 33.8% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 1.8% | 3.4% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 0.57× | 1.94× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $2.6B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $3.2B | $1.3B | ||
| Q3 25 | $4.2B | $798.0M | ||
| Q2 25 | $4.1B | $273.0M | ||
| Q1 25 | $2.2B | $510.0M | ||
| Q4 24 | $3.7B | $1.1B | ||
| Q3 24 | $3.7B | $759.0M | ||
| Q2 24 | $4.0B | $180.0M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $4.0B | $732.0M | ||
| Q2 25 | $3.8B | $225.0M | ||
| Q1 25 | $2.0B | $473.0M | ||
| Q4 24 | $3.4B | $984.0M | ||
| Q3 24 | $3.5B | $702.0M | ||
| Q2 24 | $3.8B | $112.0M |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 19.4% | 33.8% | ||
| Q3 25 | 27.4% | 24.3% | ||
| Q2 25 | 26.8% | 8.1% | ||
| Q1 25 | 14.5% | 18.7% | ||
| Q4 24 | 24.9% | 32.7% | ||
| Q3 24 | 25.9% | 25.2% | ||
| Q2 24 | 29.9% | 4.3% |
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.2% | 3.4% | ||
| Q3 25 | 1.5% | 2.2% | ||
| Q2 25 | 1.8% | 1.7% | ||
| Q1 25 | 1.5% | 1.5% | ||
| Q4 24 | 1.6% | 2.9% | ||
| Q3 24 | 1.5% | 2.0% | ||
| Q2 24 | 1.3% | 2.6% |
| Q1 26 | 0.57× | — | ||
| Q4 25 | 1.12× | 1.94× | ||
| Q3 25 | 1.66× | 1.42× | ||
| Q2 25 | 1.63× | 0.53× | ||
| Q1 25 | 0.92× | 1.19× | ||
| Q4 24 | 1.35× | 1.75× | ||
| Q3 24 | 1.73× | 1.35× | ||
| Q2 24 | 2.11× | 0.41× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
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% |
MSI
| Product And Systems Integration Segment | $1.5B | 45% |
| Services And Software Segment | $833.0M | 25% |
| Sales Channel Through Intermediary | $772.0M | 23% |
| Command Center Software | $258.0M | 8% |
