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Cisco Systems vs AT&T: revenue, profit, margins and growth compared

Cisco Systems brought in $63.3B of revenue in fiscal 2026, AT&T $125.6B in fiscal 2025. Revenue changed by +11.8% at Cisco Systems and +2.7% at AT&T on the year before, so Cisco Systems grew faster. Cisco Systems kept 21.0% of its revenue as net profit, AT&T 17.5%. Free cash flow was $12.8B at Cisco Systems and $19.4B at AT&T.

Side by side, latest fiscal year

CSCOT
Fiscal year endedFY2026 (July 25, 2026)FY2025 (December 31, 2025)
Revenue$63.3B$125.6B
Revenue growth+11.8%+2.7%
Net income$13.3B$22B
Net margin21.0%17.5%
Free cash flow$12.8B$19.4B
Free cash flow margin20.2%15.5%
Earnings per share (diluted)$3.33$3.04
Cash$7.2B$18.2B
Debt$22.9B$134.7B
Price to earnings32.08.3
Market value$420.6B$173.9B
Dividend yield1.56%4.37%
Rank by revenue in sector#5 of 51 · Telecommunications#2 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: $63.3BT FY2018: $170.8BT FY2019: $181.2BT FY2020: $143.1BT FY2021: $134BT FY2022: $120.7BT FY2023: $122.4BT FY2024: $122.3BT FY2025: $125.6BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO $63.3BT $125.6B
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: $13.3BT FY2018: $19.4BT FY2019: $13.9BT FY2020: -$5.2BT FY2021: $20.1BT FY2022: -$8.5BT FY2023: $14.4BT FY2024: $10.9BT FY2025: $22BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO $13.3BT $22B
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%T FY2018: 11.3%T FY2019: 7.7%T FY2020: -3.6%T FY2021: 15.0%T FY2022: -7.1%T FY2023: 11.8%T FY2024: 8.9%T FY2025: 17.5%FY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO 21.0%T 17.5%
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%T FY2019: +6.1%T FY2020: -21.1%T FY2021: -6.3%T FY2022: -9.9%T FY2023: +1.4%T FY2024: -0.1%T FY2025: +2.7%FY19FY20FY21FY22FY23FY24FY25FY26
CSCO +11.8%T +2.7%
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: $12.8BT FY2018: $22.4BT FY2019: $29BT FY2020: $28.4BT FY2021: $26.4BT FY2022: $16.2BT FY2023: $20.5BT FY2024: $18.5BT FY2025: $19.4BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CSCO $12.8BT $19.4B

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

Questions about Cisco Systems and AT&T

Which is bigger by revenue, Cisco Systems or AT&T?

AT&T is bigger by revenue: $125.6B in fiscal 2025, against $63.3B for Cisco Systems in fiscal 2026.

Which keeps more of its revenue as profit, Cisco Systems or AT&T?

Cisco Systems had a net margin of 21.0% in fiscal 2026; AT&T had 17.5% in fiscal 2025.

Which grew revenue faster, Cisco Systems or AT&T?

In their latest fiscal years revenue changed by +11.8% at Cisco Systems and +2.7% at AT&T.

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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