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Side-by-side financial comparison of Cisco (CSCO) and Travelers Companies (The) (TRV). Click either name above to swap in a different company.
Cisco is the larger business by last-quarter revenue ($15.3B vs $12.4B, roughly 1.2× Travelers Companies (The)). Cisco runs the higher net margin — 20.7% vs 20.1%, a 0.6% gap on every dollar of revenue. On growth, Cisco posted the faster year-over-year revenue change (9.7% vs 3.5%). Over the past eight quarters, Cisco's revenue compounded faster (9.9% CAGR vs 5.2%).
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.
The Travelers Companies, Inc., commonly known as Travelers, is an American multinational insurance company. It is the second-largest writer of U.S. commercial property and casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, with headquarters in New York City, and its largest office in Hartford, Connecticut. It has been a component of the Dow Jones Industrial Average since June 8, 2009.
CSCO vs TRV — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.3B | $12.4B |
| Net Profit | $3.2B | $2.5B |
| Gross Margin | 65.0% | — |
| Operating Margin | 24.6% | 25.0% |
| Net Margin | 20.7% | 20.1% |
| Revenue YoY | 9.7% | 3.5% |
| Net Profit YoY | 30.8% | 19.9% |
| EPS (diluted) | $0.80 | $10.96 |
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 | $12.4B | ||
| Q3 25 | $14.7B | $12.5B | ||
| Q2 25 | $14.1B | $12.1B | ||
| Q1 25 | $14.0B | $11.8B | ||
| Q4 24 | $13.8B | $12.0B | ||
| Q3 24 | $13.6B | $11.9B | ||
| Q2 24 | $12.7B | $11.3B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.9B | $2.5B | ||
| Q3 25 | $2.5B | $1.9B | ||
| Q2 25 | $2.5B | $1.5B | ||
| Q1 25 | $2.4B | $395.0M | ||
| Q4 24 | $2.7B | $2.1B | ||
| Q3 24 | $2.2B | $1.3B | ||
| Q2 24 | $1.9B | $534.0M |
| 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% | 25.0% | ||
| Q3 25 | 21.0% | 18.8% | ||
| Q2 25 | 22.6% | 15.5% | ||
| Q1 25 | 22.3% | 4.0% | ||
| Q4 24 | 17.0% | 21.6% | ||
| Q3 24 | 19.2% | 13.1% | ||
| Q2 24 | 17.2% | 5.8% |
| Q1 26 | 20.7% | — | ||
| Q4 25 | 19.2% | 20.1% | ||
| Q3 25 | 17.4% | 15.1% | ||
| Q2 25 | 17.6% | 12.5% | ||
| Q1 25 | 17.4% | 3.3% | ||
| Q4 24 | 19.6% | 17.3% | ||
| Q3 24 | 15.8% | 10.6% | ||
| Q2 24 | 14.8% | 4.7% |
| Q1 26 | $0.80 | — | ||
| Q4 25 | $0.72 | $10.96 | ||
| Q3 25 | $0.64 | $8.24 | ||
| Q2 25 | $0.62 | $6.53 | ||
| Q1 25 | $0.61 | $1.70 | ||
| Q4 24 | $0.68 | $8.96 | ||
| Q3 24 | $0.54 | $5.42 | ||
| Q2 24 | $0.46 | $2.29 |
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 | — |
| Total DebtLower is stronger | $24.6B | — |
| Stockholders' EquityBook value | $47.7B | $32.9B |
| Total Assets | $123.4B | $143.7B |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8B | — | ||
| Q4 25 | $15.7B | — | ||
| Q3 25 | $16.1B | — | ||
| Q2 25 | $15.6B | — | ||
| Q1 25 | $16.9B | — | ||
| Q4 24 | $18.7B | — | ||
| Q3 24 | $17.9B | — | ||
| Q2 24 | $18.8B | — |
| 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 | $32.9B | ||
| Q3 25 | $46.8B | $31.6B | ||
| Q2 25 | $45.9B | $29.5B | ||
| Q1 25 | $45.5B | $28.2B | ||
| Q4 24 | $45.3B | $27.9B | ||
| Q3 24 | $45.5B | $27.7B | ||
| Q2 24 | $45.8B | $24.9B |
| Q1 26 | $123.4B | — | ||
| Q4 25 | $121.1B | $143.7B | ||
| Q3 25 | $122.3B | $143.7B | ||
| Q2 25 | $119.8B | $138.9B | ||
| Q1 25 | $121.4B | $136.0B | ||
| Q4 24 | $123.3B | $133.2B | ||
| Q3 24 | $124.4B | $134.6B | ||
| Q2 24 | $123.0B | $129.3B |
| 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 | $2.7B |
| Free Cash FlowOCF − Capex | $1.5B | — |
| FCF MarginFCF / Revenue | 10.0% | — |
| Capex IntensityCapex / Revenue | 1.8% | — |
| Cash ConversionOCF / Net Profit | 0.57× | 1.08× |
| TTM Free Cash FlowTrailing 4 quarters | $12.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $3.2B | $2.7B | ||
| Q3 25 | $4.2B | $4.2B | ||
| Q2 25 | $4.1B | $2.3B | ||
| Q1 25 | $2.2B | $1.4B | ||
| Q4 24 | $3.7B | $2.1B | ||
| Q3 24 | $3.7B | $3.9B | ||
| Q2 24 | $4.0B | $1.7B |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.8B | — |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 19.4% | — | ||
| Q3 25 | 27.4% | — | ||
| Q2 25 | 26.8% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 25.9% | — | ||
| Q2 24 | 29.9% | — |
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.2% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.3% | — |
| Q1 26 | 0.57× | — | ||
| Q4 25 | 1.12× | 1.08× | ||
| Q3 25 | 1.66× | 2.24× | ||
| Q2 25 | 1.63× | 1.55× | ||
| Q1 25 | 0.92× | 3.44× | ||
| Q4 24 | 1.35× | 0.99× | ||
| Q3 24 | 1.73× | 3.08× | ||
| Q2 24 | 2.11× | 3.14× |
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% |
TRV
| Business And International Insurance | $6.6B | 53% |
| Personal Insurance | $4.6B | 37% |
| Bond And Specialty Insurance | $1.2B | 9% |
