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Side-by-side financial comparison of Cisco (CSCO) and Netflix (NFLX). Click either name above to swap in a different company.
Cisco is the larger business by last-quarter revenue ($15.3B vs $12.2B, roughly 1.3× Netflix). Netflix runs the higher net margin — 43.1% vs 20.7%, a 22.4% gap on every dollar of revenue. On growth, Netflix posted the faster year-over-year revenue change (16.2% vs 9.7%). Netflix produced more free cash flow last quarter ($5.1B vs $1.5B). Over the past eight quarters, Netflix's revenue compounded faster (13.2% 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.
Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres. It is available internationally in multiple languages.
CSCO vs NFLX — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $12.2B |
| Net Profit | $3.2B | $5.3B |
| Gross Margin | 65.0% | 51.9% |
| Operating Margin | 24.6% | 32.3% |
| Net Margin | 20.7% | 43.1% |
| Revenue YoY | 9.7% | 16.2% |
| Net Profit YoY | 30.8% | 82.8% |
| EPS (diluted) | $0.80 | $1.23 |
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 | $12.2B | ||
| Q4 25 | $14.9B | $12.1B | ||
| Q3 25 | $14.7B | $11.5B | ||
| Q2 25 | $14.1B | $11.1B | ||
| Q1 25 | $14.0B | $10.5B | ||
| Q4 24 | $13.8B | $10.2B | ||
| Q3 24 | $13.6B | $9.8B | ||
| Q2 24 | $12.7B | $9.6B |
| Q1 26 | $3.2B | $5.3B | ||
| Q4 25 | $2.9B | $2.4B | ||
| Q3 25 | $2.5B | $2.5B | ||
| Q2 25 | $2.5B | $3.1B | ||
| Q1 25 | $2.4B | $2.9B | ||
| Q4 24 | $2.7B | $1.9B | ||
| Q3 24 | $2.2B | $2.4B | ||
| Q2 24 | $1.9B | $2.1B |
| Q1 26 | 65.0% | 51.9% | ||
| Q4 25 | 65.5% | 45.9% | ||
| Q3 25 | 63.2% | 46.4% | ||
| Q2 25 | 65.6% | 51.9% | ||
| Q1 25 | 65.1% | 50.1% | ||
| Q4 24 | 65.9% | 43.7% | ||
| Q3 24 | 64.4% | 47.9% | ||
| Q2 24 | 65.1% | 45.9% |
| Q1 26 | 24.6% | 32.3% | ||
| Q4 25 | 22.6% | 24.5% | ||
| Q3 25 | 21.0% | 28.2% | ||
| Q2 25 | 22.6% | 34.1% | ||
| Q1 25 | 22.3% | 31.7% | ||
| Q4 24 | 17.0% | 22.2% | ||
| Q3 24 | 19.2% | 29.6% | ||
| Q2 24 | 17.2% | 27.2% |
| Q1 26 | 20.7% | 43.1% | ||
| Q4 25 | 19.2% | 20.1% | ||
| Q3 25 | 17.4% | 22.1% | ||
| Q2 25 | 17.6% | 28.2% | ||
| Q1 25 | 17.4% | 27.4% | ||
| Q4 24 | 19.6% | 18.2% | ||
| Q3 24 | 15.8% | 24.1% | ||
| Q2 24 | 14.8% | 22.5% |
| Q1 26 | $0.80 | $1.23 | ||
| Q4 25 | $0.72 | $-17.14 | ||
| Q3 25 | $0.64 | $5.87 | ||
| Q2 25 | $0.62 | $7.19 | ||
| Q1 25 | $0.61 | $0.66 | ||
| Q4 24 | $0.68 | $4.27 | ||
| Q3 24 | $0.54 | $5.40 | ||
| Q2 24 | $0.46 | $4.88 |
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 | $12.3B |
| Total DebtLower is stronger | $24.6B | $13.4B |
| Stockholders' EquityBook value | $47.7B | $31.1B |
| Total Assets | $123.4B | $61.0B |
| Debt / EquityLower = less leverage | 0.52× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | $12.3B | ||
| Q4 25 | $15.7B | $9.1B | ||
| Q3 25 | $16.1B | $9.3B | ||
| Q2 25 | $15.6B | $8.4B | ||
| Q1 25 | $16.9B | $8.4B | ||
| Q4 24 | $18.7B | $9.6B | ||
| Q3 24 | $17.9B | $9.2B | ||
| Q2 24 | $18.8B | $6.7B |
| Q1 26 | $24.6B | $13.4B | ||
| Q4 25 | $24.6B | $13.5B | ||
| Q3 25 | $24.6B | $14.5B | ||
| Q2 25 | $25.1B | $14.5B | ||
| Q1 25 | $20.1B | $14.0B | ||
| Q4 24 | $20.1B | $13.8B | ||
| Q3 24 | $20.1B | $14.2B | ||
| Q2 24 | $20.1B | $12.2B |
| Q1 26 | $47.7B | $31.1B | ||
| Q4 25 | $46.9B | $26.6B | ||
| Q3 25 | $46.8B | $26.0B | ||
| Q2 25 | $45.9B | $25.0B | ||
| Q1 25 | $45.5B | $24.0B | ||
| Q4 24 | $45.3B | $24.7B | ||
| Q3 24 | $45.5B | $22.7B | ||
| Q2 24 | $45.8B | $22.1B |
| Q1 26 | $123.4B | $61.0B | ||
| Q4 25 | $121.1B | $55.6B | ||
| Q3 25 | $122.3B | $54.9B | ||
| Q2 25 | $119.8B | $53.1B | ||
| Q1 25 | $121.4B | $52.1B | ||
| Q4 24 | $123.3B | $53.6B | ||
| Q3 24 | $124.4B | $52.3B | ||
| Q2 24 | $123.0B | $49.1B |
| Q1 26 | 0.52× | 0.43× | ||
| Q4 25 | 0.53× | 0.51× | ||
| Q3 25 | 0.53× | 0.56× | ||
| Q2 25 | 0.55× | 0.58× | ||
| Q1 25 | 0.44× | 0.58× | ||
| Q4 24 | 0.44× | 0.56× | ||
| Q3 24 | 0.44× | 0.62× | ||
| Q2 24 | 0.44× | 0.55× |
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 | $5.3B |
| Free Cash FlowOCF − Capex | $1.5B | $5.1B |
| FCF MarginFCF / Revenue | 10.0% | 41.6% |
| Capex IntensityCapex / Revenue | 1.8% | 1.6% |
| Cash ConversionOCF / Net Profit | 0.57× | 1.00× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $11.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | $5.3B | ||
| Q4 25 | $3.2B | $2.1B | ||
| Q3 25 | $4.2B | $2.8B | ||
| Q2 25 | $4.1B | $2.4B | ||
| Q1 25 | $2.2B | $2.8B | ||
| Q4 24 | $3.7B | $1.5B | ||
| Q3 24 | $3.7B | $2.3B | ||
| Q2 24 | $4.0B | $1.3B |
| Q1 26 | $1.5B | $5.1B | ||
| Q4 25 | $2.9B | $1.9B | ||
| Q3 25 | $4.0B | $2.7B | ||
| Q2 25 | $3.8B | $2.3B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $3.4B | $1.4B | ||
| Q3 24 | $3.5B | $2.2B | ||
| Q2 24 | $3.8B | $1.2B |
| Q1 26 | 10.0% | 41.6% | ||
| Q4 25 | 19.4% | 15.5% | ||
| Q3 25 | 27.4% | 23.1% | ||
| Q2 25 | 26.8% | 20.5% | ||
| Q1 25 | 14.5% | 25.2% | ||
| Q4 24 | 24.9% | 13.5% | ||
| Q3 24 | 25.9% | 22.3% | ||
| Q2 24 | 29.9% | 12.7% |
| Q1 26 | 1.8% | 1.6% | ||
| Q4 25 | 2.2% | 2.0% | ||
| Q3 25 | 1.5% | 1.4% | ||
| Q2 25 | 1.8% | 1.4% | ||
| Q1 25 | 1.5% | 1.2% | ||
| Q4 24 | 1.6% | 1.5% | ||
| Q3 24 | 1.5% | 1.3% | ||
| Q2 24 | 1.3% | 0.8% |
| Q1 26 | 0.57× | 1.00× | ||
| Q4 25 | 1.12× | 0.87× | ||
| Q3 25 | 1.66× | 1.11× | ||
| Q2 25 | 1.63× | 0.78× | ||
| Q1 25 | 0.92× | 0.97× | ||
| Q4 24 | 1.35× | 0.82× | ||
| Q3 24 | 1.73× | 0.98× | ||
| Q2 24 | 2.11× | 0.60× |
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% |
NFLX
Segment breakdown not available.
