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Side-by-side financial comparison of Cisco (CSCO) and T-Mobile US (TMUS). Click either name above to swap in a different company.
T-Mobile US is the larger business by last-quarter revenue ($23.1B vs $15.3B, roughly 1.5× Cisco). Cisco runs the higher net margin — 20.7% vs 10.8%, a 9.8% gap on every dollar of revenue. On growth, T-Mobile US posted the faster year-over-year revenue change (10.6% vs 9.7%). T-Mobile US produced more free cash flow last quarter ($4.6B vs $1.5B). Over the past eight quarters, Cisco's revenue compounded faster (9.9% CAGR vs 8.1%).
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.
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its majority shareholder and namesake is the German telecommunications company Deutsche Telekom. T-Mobile is the second largest wireless carrier in the United States, with 140 million subscribers as of September 30, 2025.
CSCO vs TMUS — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $23.1B |
| Net Profit | $3.2B | $2.5B |
| Gross Margin | 65.0% | — |
| Operating Margin | 24.6% | 20.8% |
| Net Margin | 20.7% | 10.8% |
| Revenue YoY | 9.7% | 10.6% |
| Net Profit YoY | 30.8% | -15.2% |
| EPS (diluted) | $0.80 | $2.27 |
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 | $23.1B | ||
| Q4 25 | $14.9B | $24.3B | ||
| Q3 25 | $14.7B | $22.0B | ||
| Q2 25 | $14.1B | $21.1B | ||
| Q1 25 | $14.0B | $20.9B | ||
| Q4 24 | $13.8B | $21.9B | ||
| Q3 24 | $13.6B | $20.2B | ||
| Q2 24 | $12.7B | $19.8B |
| Q1 26 | $3.2B | $2.5B | ||
| Q4 25 | $2.9B | $2.1B | ||
| Q3 25 | $2.5B | $2.7B | ||
| Q2 25 | $2.5B | $3.2B | ||
| Q1 25 | $2.4B | $3.0B | ||
| Q4 24 | $2.7B | $3.0B | ||
| Q3 24 | $2.2B | $3.1B | ||
| Q2 24 | $1.9B | $2.9B |
| 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% | 20.8% | ||
| Q4 25 | 22.6% | 15.4% | ||
| Q3 25 | 21.0% | 20.6% | ||
| Q2 25 | 22.6% | 24.7% | ||
| Q1 25 | 22.3% | 23.0% | ||
| Q4 24 | 17.0% | 21.0% | ||
| Q3 24 | 19.2% | 23.8% | ||
| Q2 24 | 17.2% | 23.4% |
| Q1 26 | 20.7% | 10.8% | ||
| Q4 25 | 19.2% | 8.6% | ||
| Q3 25 | 17.4% | 12.4% | ||
| Q2 25 | 17.6% | 15.2% | ||
| Q1 25 | 17.4% | 14.1% | ||
| Q4 24 | 19.6% | 13.6% | ||
| Q3 24 | 15.8% | 15.2% | ||
| Q2 24 | 14.8% | 14.8% |
| Q1 26 | $0.80 | $2.27 | ||
| Q4 25 | $0.72 | $1.89 | ||
| Q3 25 | $0.64 | $2.41 | ||
| Q2 25 | $0.62 | $2.84 | ||
| Q1 25 | $0.61 | $2.58 | ||
| Q4 24 | $0.68 | $2.56 | ||
| Q3 24 | $0.54 | $2.61 | ||
| Q2 24 | $0.46 | $2.49 |
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 | $3.5B |
| Total DebtLower is stronger | $24.6B | $86.0B |
| Stockholders' EquityBook value | $47.7B | $55.9B |
| Total Assets | $123.4B | $214.7B |
| Debt / EquityLower = less leverage | 0.52× | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | $3.5B | ||
| Q4 25 | $15.7B | $5.6B | ||
| Q3 25 | $16.1B | $3.3B | ||
| Q2 25 | $15.6B | $10.3B | ||
| Q1 25 | $16.9B | $12.0B | ||
| Q4 24 | $18.7B | $5.4B | ||
| Q3 24 | $17.9B | $9.8B | ||
| Q2 24 | $18.8B | $6.4B |
| Q1 26 | $24.6B | $86.0B | ||
| Q4 25 | $24.6B | $86.3B | ||
| Q3 25 | $24.6B | — | ||
| Q2 25 | $25.1B | — | ||
| Q1 25 | $20.1B | — | ||
| Q4 24 | $20.1B | $78.3B | ||
| Q3 24 | $20.1B | — | ||
| Q2 24 | $20.1B | — |
| Q1 26 | $47.7B | $55.9B | ||
| Q4 25 | $46.9B | $59.2B | ||
| Q3 25 | $46.8B | $60.5B | ||
| Q2 25 | $45.9B | $61.1B | ||
| Q1 25 | $45.5B | $61.1B | ||
| Q4 24 | $45.3B | $61.7B | ||
| Q3 24 | $45.5B | $64.3B | ||
| Q2 24 | $45.8B | $62.6B |
| Q1 26 | $123.4B | $214.7B | ||
| Q4 25 | $121.1B | $219.2B | ||
| Q3 25 | $122.3B | $217.2B | ||
| Q2 25 | $119.8B | $212.6B | ||
| Q1 25 | $121.4B | $214.6B | ||
| Q4 24 | $123.3B | $208.0B | ||
| Q3 24 | $124.4B | $210.7B | ||
| Q2 24 | $123.0B | $208.6B |
| Q1 26 | 0.52× | 1.54× | ||
| Q4 25 | 0.53× | 1.46× | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.44× | 1.27× | ||
| 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 | $7.2B |
| Free Cash FlowOCF − Capex | $1.5B | $4.6B |
| FCF MarginFCF / Revenue | 10.0% | 19.9% |
| Capex IntensityCapex / Revenue | 1.8% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.57× | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | $18.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | $7.2B | ||
| Q4 25 | $3.2B | $6.7B | ||
| Q3 25 | $4.2B | $7.5B | ||
| Q2 25 | $4.1B | $7.0B | ||
| Q1 25 | $2.2B | $6.8B | ||
| Q4 24 | $3.7B | $5.5B | ||
| Q3 24 | $3.7B | $6.1B | ||
| Q2 24 | $4.0B | $5.5B |
| Q1 26 | $1.5B | $4.6B | ||
| Q4 25 | $2.9B | $4.2B | ||
| Q3 25 | $4.0B | $4.8B | ||
| Q2 25 | $3.8B | $4.6B | ||
| Q1 25 | $2.0B | $4.4B | ||
| Q4 24 | $3.4B | $3.3B | ||
| Q3 24 | $3.5B | $4.2B | ||
| Q2 24 | $3.8B | $3.5B |
| Q1 26 | 10.0% | 19.9% | ||
| Q4 25 | 19.4% | 17.2% | ||
| Q3 25 | 27.4% | 21.9% | ||
| Q2 25 | 26.8% | 21.7% | ||
| Q1 25 | 14.5% | 21.0% | ||
| Q4 24 | 24.9% | 15.3% | ||
| Q3 24 | 25.9% | 20.7% | ||
| Q2 24 | 29.9% | 17.6% |
| Q1 26 | 1.8% | 0.0% | ||
| Q4 25 | 2.2% | 10.1% | ||
| Q3 25 | 1.5% | 12.0% | ||
| Q2 25 | 1.8% | 11.3% | ||
| Q1 25 | 1.5% | 11.7% | ||
| Q4 24 | 1.6% | 10.1% | ||
| Q3 24 | 1.5% | 9.7% | ||
| Q2 24 | 1.3% | 10.3% |
| Q1 26 | 0.57× | 2.88× | ||
| Q4 25 | 1.12× | 3.16× | ||
| Q3 25 | 1.66× | 2.75× | ||
| Q2 25 | 1.63× | 2.17× | ||
| Q1 25 | 0.92× | 2.32× | ||
| Q4 24 | 1.35× | 1.86× | ||
| Q3 24 | 1.73× | 2.01× | ||
| Q2 24 | 2.11× | 1.89× |
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% |
TMUS
| Postpaid service revenues | $15.6B | 68% |
| Other | $7.5B | 32% |
