Cisco Systems (CSCO) Operating Expenses (2009 - 2026)
Cisco Systems' Operating Expenses was $6.8 billion in fiscal Q4 2026 (quarter ended Jul 25, 2026), up 9.8% from $6.19 billion a year earlier and up 11.1% from the prior quarter.
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Analysis
Cisco Systems (CSCO) Operating Expenses (2009 - 2026) Analysis & Trends
For FY2026 (ended Jul 25, 2026), Operating Expenses at Cisco Systems came in at $25.49 billion, up 1.8% from FY2025.
- Operating Expenses has now increased for four consecutive fiscal years, with a five-year compound annual growth rate of 6.0% (FY2021 to FY2026).
- In earlier fiscal years, Operating Expenses was $25.03 billion in FY2025 (+10.5%), $22.65 billion in FY2024 (+9.3%), $20.72 billion in FY2023 (+13.4%) and $18.28 billion in FY2022 (-4.1%).
- The fiscal Q4 2026 figure marks the highest quarterly Operating Expenses in data going back to fiscal Q2 2009.
- Compared with a year earlier, Operating Expenses has increased for three straight quarters, with growth averaging 6.7% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was fiscal Q1 2025 (growth of 28.1%); the worst was fiscal Q1 2022 (a decline of 7.9%).
- Per Business Quant data, CSCO's Operating Expenses in the three fiscal quarters before Q4 2026 was $6.12 billion (Q3 2026), $6.19 billion (Q2 2026) and $6.38 billion (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 5,023.53 Bn | 4,771.02 Bn | 54.77 Bn | 19.08 Bn |
| 2 | Cisco Systems | 434.59 Bn | 370.52 Bn | 11.06 Bn | 6.80 Bn |
| 3 | Dell Technologies | 303.32 Bn | 259.08 Bn | 9.83 Bn | 4.45 Bn |
| 4 | Arista Networks | 233.08 Bn | 186.53 Bn | 1.91 Bn | 532.30 Mn |
| 5 | Sandisk | 204.99 Bn | 193.51 Bn | 7.58 Bn | 545.00 Mn |
| 6 | Seagate Technology Holdings | 151.41 Bn | 146.40 Bn | 1.90 Bn | 2.07 Bn |
| 7 | Sony | 147.67 Bn | 84.93 Bn | 6.53 Bn | 14.83 Bn |
| 8 | Western Digital | 122.89 Bn | 111.02 Bn | 2.03 Bn | 465.00 Mn |
| 9 | Hewlett Packard Enterprise | 78.34 Bn | 56.22 Bn | 4.93 Bn | 10.82 Bn |
| 10 | Lumentum Holdings | 64.86 Bn | 56.67 Bn | 477.30 Mn | 198.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 25, 2026 | 6.80 Bn |
| Apr 25, 2026 | 6.12 Bn |
| Jan 24, 2026 | 6.19 Bn |
| Oct 25, 2025 | 6.38 Bn |
| Jul 26, 2025 | 6.19 Bn |
| Apr 26, 2025 | 6.08 Bn |
| Jan 25, 2025 | 6.00 Bn |
| Oct 26, 2024 | 6.76 Bn |
| Jul 27, 2024 | 6.16 Bn |
| Apr 27, 2024 | 6.08 Bn |
| Jan 27, 2024 | 5.12 Bn |
| Oct 28, 2023 | 5.28 Bn |
| Jul 29, 2023 | 5.50 Bn |
| Apr 29, 2023 | 5.29 Bn |
| Jan 28, 2023 | 5.14 Bn |
| Oct 29, 2022 | 4.81 Bn |
| Jul 30, 2022 | 4.59 Bn |
| Apr 30, 2022 | 4.51 Bn |
| Jan 29, 2022 | 4.56 Bn |
| Oct 30, 2021 | 4.62 Bn |
API Access
Cisco Systems Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=CSCO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "CSCO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=CSCO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();