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Cisco Systems vs Lumen Technologies: revenue, profit, margins and growth compared

Cisco Systems brought in $63.3B of revenue in fiscal 2026, Lumen Technologies $12.4B in fiscal 2025. Revenue changed by +11.8% at Cisco Systems and -5.4% at Lumen Technologies on the year before, so Cisco Systems grew faster. Cisco Systems kept 21.0% of its revenue as net profit, Lumen Technologies -14.0%. Free cash flow was $12.8B at Cisco Systems and $371M at Lumen Technologies.

Side by side, latest fiscal year

CSCOLUMN
Fiscal year endedFY2026 (July 25, 2026)FY2025 (December 31, 2025)
Revenue$63.3B$12.4B
Revenue growth+11.8%-5.4%
Net income$13.3B-$1.7B
Net margin21.0%-14.0%
Free cash flow$12.8B$371M
Free cash flow margin20.2%3.0%
Earnings per share (diluted)$3.33-$1.75
Cash$7.2B$1B
Debt$22.9B$17.4B
Price to earnings32.0n/a
Market value$420.6B$5.9B
Dividend yield1.56%n/a
Rank by revenue in sector#5 of 51 · Telecommunications#8 of 51 · Telecommunications

Over the years

Revenue
CSCO FY2019: $51.9BCSCO FY2020: $49.3BCSCO FY2021: $49.8BCSCO FY2022: $51.6BCSCO FY2023: $57BCSCO FY2024: $53.8BCSCO FY2025: $56.7BCSCO FY2026: $63.3BLUMN FY2018: $22.6BLUMN FY2019: $21.5BLUMN FY2020: $20.7BLUMN FY2021: $19.7BLUMN FY2022: $17.5BLUMN FY2023: $14.6BLUMN FY2024: $13.1BLUMN FY2025: $12.4BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO $63.3BLUMN $12.4B
Net income
CSCO FY2019: $11.6BCSCO FY2020: $11.2BCSCO FY2021: $10.6BCSCO FY2022: $11.8BCSCO FY2023: $12.6BCSCO FY2024: $10.3BCSCO FY2025: $10.2BCSCO FY2026: $13.3BLUMN FY2018: -$1.7BLUMN FY2019: -$5.3BLUMN FY2020: -$1.2BLUMN FY2021: $2BLUMN FY2022: -$1.5BLUMN FY2023: -$10.3BLUMN FY2024: -$55MLUMN FY2025: -$1.7BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO $13.3BLUMN -$1.7B
Net margin
CSCO FY2019: 22.4%CSCO FY2020: 22.7%CSCO FY2021: 21.3%CSCO FY2022: 22.9%CSCO FY2023: 22.1%CSCO FY2024: 19.2%CSCO FY2025: 18.0%CSCO FY2026: 21.0%LUMN FY2018: -7.7%LUMN FY2019: -24.6%LUMN FY2020: -5.9%LUMN FY2021: 10.3%LUMN FY2022: -8.9%LUMN FY2023: -70.7%LUMN FY2024: -0.4%LUMN FY2025: -14.0%FY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO 21.0%LUMN -14.0%
Revenue growth
CSCO FY2020: -5.0%CSCO FY2021: +1.0%CSCO FY2022: +3.5%CSCO FY2023: +10.6%CSCO FY2024: -5.6%CSCO FY2025: +5.3%CSCO FY2026: +11.8%LUMN FY2019: -5.0%LUMN FY2020: -3.5%LUMN FY2021: -4.9%LUMN FY2022: -11.2%LUMN FY2023: -16.7%LUMN FY2024: -10.0%LUMN FY2025: -5.4%FY19FY20FY21FY22FY23FY24FY25FY26
CSCO +11.8%LUMN -5.4%
Free cash flow
CSCO FY2019: $14.9BCSCO FY2020: $14.7BCSCO FY2021: $14.8BCSCO FY2022: $12.7BCSCO FY2023: $19BCSCO FY2024: $10.2BCSCO FY2025: $13.3BCSCO FY2026: $12.8BLUMN FY2018: $3.9BLUMN FY2019: $3.1BLUMN FY2020: $2.8BLUMN FY2021: $3.6BLUMN FY2022: $1.7BLUMN FY2023: -$940MLUMN FY2024: $1.1BLUMN FY2025: $371MFY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO $12.8BLUMN $371M

Fiscal years as each company reports them; the two may end in different months.

Questions about Cisco Systems and Lumen Technologies

Which is bigger by revenue, Cisco Systems or Lumen Technologies?

Cisco Systems is bigger by revenue: $63.3B in fiscal 2026, against $12.4B for Lumen Technologies in fiscal 2025.

Which keeps more of its revenue as profit, Cisco Systems or Lumen Technologies?

Cisco Systems had a net margin of 21.0% in fiscal 2026; Lumen Technologies had -14.0% in fiscal 2025.

Which grew revenue faster, Cisco Systems or Lumen Technologies?

In their latest fiscal years revenue changed by +11.8% at Cisco Systems and -5.4% at Lumen Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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