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Side-by-side financial comparison of Cisco (CSCO) and RTX Corporation (RTX). Click either name above to swap in a different company.
RTX Corporation is the larger business by last-quarter revenue ($22.1B vs $15.3B, roughly 1.4× Cisco). Cisco runs the higher net margin — 20.7% vs 9.3%, a 11.4% gap on every dollar of revenue. On growth, Cisco posted the faster year-over-year revenue change (9.7% vs 8.7%). Cisco produced more free cash flow last quarter ($1.5B vs $1.3B). Over the past eight quarters, Cisco's revenue compounded faster (9.9% CAGR vs 5.8%).
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.
RTX Corporation, formerly Raytheon Technologies Corporation, is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia. It is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization, as well as one of the largest providers of intelligence services. In 2023, the company's seat in the Forbes Global 2000 was 79.
CSCO vs RTX — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $22.1B |
| Net Profit | $3.2B | $2.1B |
| Gross Margin | 65.0% | 20.8% |
| Operating Margin | 24.6% | 5.9% |
| Net Margin | 20.7% | 9.3% |
| Revenue YoY | 9.7% | 8.7% |
| Net Profit YoY | 30.8% | 34.1% |
| EPS (diluted) | $0.80 | $1.51 |
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 | $22.1B | ||
| Q4 25 | $14.9B | $24.2B | ||
| Q3 25 | $14.7B | $22.5B | ||
| Q2 25 | $14.1B | $21.6B | ||
| Q1 25 | $14.0B | $20.3B | ||
| Q4 24 | $13.8B | $21.6B | ||
| Q3 24 | $13.6B | $20.1B | ||
| Q2 24 | $12.7B | $19.7B |
| Q1 26 | $3.2B | $2.1B | ||
| Q4 25 | $2.9B | $1.6B | ||
| Q3 25 | $2.5B | $1.9B | ||
| Q2 25 | $2.5B | $1.7B | ||
| Q1 25 | $2.4B | $1.5B | ||
| Q4 24 | $2.7B | $1.5B | ||
| Q3 24 | $2.2B | $1.5B | ||
| Q2 24 | $1.9B | $111.0M |
| Q1 26 | 65.0% | 20.8% | ||
| 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% | 5.9% | ||
| Q4 25 | 22.6% | 10.7% | ||
| Q3 25 | 21.0% | 11.2% | ||
| Q2 25 | 22.6% | 9.9% | ||
| Q1 25 | 22.3% | 10.0% | ||
| Q4 24 | 17.0% | 9.8% | ||
| Q3 24 | 19.2% | 10.1% | ||
| Q2 24 | 17.2% | 2.7% |
| Q1 26 | 20.7% | 9.3% | ||
| Q4 25 | 19.2% | 6.7% | ||
| Q3 25 | 17.4% | 8.5% | ||
| Q2 25 | 17.6% | 7.7% | ||
| Q1 25 | 17.4% | 7.6% | ||
| Q4 24 | 19.6% | 6.9% | ||
| Q3 24 | 15.8% | 7.3% | ||
| Q2 24 | 14.8% | 0.6% |
| Q1 26 | $0.80 | $1.51 | ||
| Q4 25 | $0.72 | $1.19 | ||
| Q3 25 | $0.64 | $1.41 | ||
| Q2 25 | $0.62 | $1.22 | ||
| Q1 25 | $0.61 | $1.14 | ||
| Q4 24 | $0.68 | $1.10 | ||
| Q3 24 | $0.54 | $1.09 | ||
| Q2 24 | $0.46 | $0.08 |
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 | $6.8B |
| Total DebtLower is stronger | $24.6B | $33.2B |
| Stockholders' EquityBook value | $47.7B | $68.0B |
| Total Assets | $123.4B | $170.4B |
| Debt / EquityLower = less leverage | 0.52× | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | $6.8B | ||
| Q4 25 | $15.7B | $8.2B | ||
| Q3 25 | $16.1B | $6.7B | ||
| Q2 25 | $15.6B | $5.5B | ||
| Q1 25 | $16.9B | $5.8B | ||
| Q4 24 | $18.7B | $6.4B | ||
| Q3 24 | $17.9B | $7.4B | ||
| Q2 24 | $18.8B | $6.7B |
| Q1 26 | $24.6B | $33.2B | ||
| Q4 25 | $24.6B | $34.3B | ||
| Q3 25 | $24.6B | $38.3B | ||
| Q2 25 | $25.1B | $38.3B | ||
| Q1 25 | $20.1B | $38.2B | ||
| Q4 24 | $20.1B | $38.7B | ||
| Q3 24 | $20.1B | $38.8B | ||
| Q2 24 | $20.1B | $40.3B |
| Q1 26 | $47.7B | $68.0B | ||
| Q4 25 | $46.9B | $65.2B | ||
| Q3 25 | $46.8B | $64.5B | ||
| Q2 25 | $45.9B | $62.4B | ||
| Q1 25 | $45.5B | $61.5B | ||
| Q4 24 | $45.3B | $60.2B | ||
| Q3 24 | $45.5B | $61.1B | ||
| Q2 24 | $45.8B | $59.0B |
| Q1 26 | $123.4B | $170.4B | ||
| Q4 25 | $121.1B | $171.1B | ||
| Q3 25 | $122.3B | $168.7B | ||
| Q2 25 | $119.8B | $167.1B | ||
| Q1 25 | $121.4B | $164.9B | ||
| Q4 24 | $123.3B | $162.9B | ||
| Q3 24 | $124.4B | $164.8B | ||
| Q2 24 | $123.0B | $161.2B |
| Q1 26 | 0.52× | 0.49× | ||
| Q4 25 | 0.53× | 0.53× | ||
| Q3 25 | 0.53× | 0.59× | ||
| Q2 25 | 0.55× | 0.61× | ||
| Q1 25 | 0.44× | 0.62× | ||
| Q4 24 | 0.44× | 0.64× | ||
| Q3 24 | 0.44× | 0.64× | ||
| Q2 24 | 0.44× | 0.68× |
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 | — |
| Free Cash FlowOCF − Capex | $1.5B | $1.3B |
| FCF MarginFCF / Revenue | 10.0% | 5.9% |
| Capex IntensityCapex / Revenue | 1.8% | 2.5% |
| Cash ConversionOCF / Net Profit | 0.57× | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $8.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $3.2B | $4.2B | ||
| Q3 25 | $4.2B | $4.6B | ||
| Q2 25 | $4.1B | $458.0M | ||
| Q1 25 | $2.2B | $1.3B | ||
| Q4 24 | $3.7B | $1.6B | ||
| Q3 24 | $3.7B | $2.5B | ||
| Q2 24 | $4.0B | $2.7B |
| Q1 26 | $1.5B | $1.3B | ||
| Q4 25 | $2.9B | $3.2B | ||
| Q3 25 | $4.0B | $4.0B | ||
| Q2 25 | $3.8B | $-72.0M | ||
| Q1 25 | $2.0B | $792.0M | ||
| Q4 24 | $3.4B | $492.0M | ||
| Q3 24 | $3.5B | $2.0B | ||
| Q2 24 | $3.8B | $2.2B |
| Q1 26 | 10.0% | 5.9% | ||
| Q4 25 | 19.4% | 13.2% | ||
| Q3 25 | 27.4% | 17.9% | ||
| Q2 25 | 26.8% | -0.3% | ||
| Q1 25 | 14.5% | 3.9% | ||
| Q4 24 | 24.9% | 2.3% | ||
| Q3 24 | 25.9% | 9.8% | ||
| Q2 24 | 29.9% | 11.1% |
| Q1 26 | 1.8% | 2.5% | ||
| Q4 25 | 2.2% | 4.0% | ||
| Q3 25 | 1.5% | 2.7% | ||
| Q2 25 | 1.8% | 2.5% | ||
| Q1 25 | 1.5% | 2.5% | ||
| Q4 24 | 1.6% | 4.9% | ||
| Q3 24 | 1.5% | 2.7% | ||
| Q2 24 | 1.3% | 2.7% |
| Q1 26 | 0.57× | — | ||
| Q4 25 | 1.12× | 2.57× | ||
| Q3 25 | 1.66× | 2.42× | ||
| Q2 25 | 1.63× | 0.28× | ||
| Q1 25 | 0.92× | 0.85× | ||
| Q4 24 | 1.35× | 1.05× | ||
| Q3 24 | 1.73× | 1.71× | ||
| Q2 24 | 2.11× | 24.62× |
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% |
RTX
Segment breakdown not available.
