Cisco Systems
Cisco Systems returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q4 | Jul 25, 2026 | 18.3% | 17.53% | 32.45% | 27.32% | 10.53% | 10.6 pp |
| FY 2026 Q3 | Apr 25, 2026 | 17.21% | 16.57% | 25.28% | 25.23% | 9.75% | 9.5 pp |
| FY 2026 Q2 | Jan 24, 2026 | 16.56% | 16% | 77.3% | 23.75% | 9.05% | 8.9 pp |
| FY 2026 Q1 | Oct 25, 2025 | 16.01% | 15.16% | — | 22.42% | 8.45% | 8.3 pp |
| FY 2025 Q4 | Jul 26, 2025 | 15.92% | 13.75% | — | 22.06% | 8.25% | 8.2 pp |
| FY 2025 Q3 | Apr 26, 2025 | 15.5% | 13.43% | — | 21.36% | 8.07% | 7.8 pp |
| FY 2025 Q2 | Jan 25, 2025 | 17.21% | 13.55% | -14.26% | 20.02% | 8.26% | 9.5 pp |
| FY 2025 Q1 | Oct 26, 2024 | 17.2% | 13.28% | -14.3% | 20.76% | 8.46% | 9.5 pp |
| FY 2024 Q4 | Jul 27, 2024 | 18.43% | 15.78% | -7.99% | 22.98% | 9.12% | 10.7 pp |
| FY 2024 Q3 | Apr 27, 2024 | 20.99% | 18.21% | 1.03% | 27.52% | 10.99% | 13.3 pp |
| FY 2024 Q2 | Jan 27, 2024 | 30.54% | 22.42% | 69.54% | 30.65% | 13.65% | 22.8 pp |
| FY 2024 Q1 | Oct 28, 2023 | 30.9% | 22.54% | 130.52% | 31.78% | 14.16% | 23.2 pp |
| FY 2023 Q4 | Jul 29, 2023 | 29.18% | 21.64% | 237.66% | 29.99% | 12.88% | 21.5 pp |
| FY 2023 Q3 | Apr 29, 2023 | 26.73% | 20.68% | — | 27.74% | 12.05% | 19 pp |
| FY 2023 Q2 | Jan 28, 2023 | 25.98% | 20.27% | — | 27.92% | 11.89% | 18.3 pp |
| FY 2023 Q1 | Oct 29, 2022 | 26.2% | 19.97% | — | 27.72% | 12.17% | 18.5 pp |
| FY 2022 Q4 | Jul 30, 2022 | 26.56% | 20.01% | — | 29.15% | 12.34% | 18.9 pp |
| FY 2022 Q3 | Apr 30, 2022 | 26.24% | 20.41% | — | 29.79% | 12.86% | 18.5 pp |
| FY 2022 Q2 | Jan 29, 2022 | 26.29% | 20.43% | 58.53% | 30.08% | 12.46% | 18.6 pp |
| FY 2022 Q1 | Oct 30, 2021 | 25.36% | 19.47% | 29.47% | 28.19% | 11.94% | 17.7 pp |
| FY 2021 Q4 | Jul 31, 2021 | 24.31% | 18.23% | -23.35% | 26.75% | 11.01% | 16.6 pp |
| FY 2021 Q3 | May 1, 2021 | 23.21% | 18.51% | -20.2% | 26.92% | 11.03% | 15.5 pp |
| FY 2021 Q2 | Jan 23, 2021 | 23.42% | 18.22% | — | 27.14% | 10.89% | 15.7 pp |
| FY 2021 Q1 | Oct 24, 2020 | 23.6% | 18.56% | — | 28.83% | 11.16% | 15.9 pp |
| FY 2020 Q4 | Jul 25, 2020 | 25.08% | 20.09% | — | 31.37% | 11.64% | 17.4 pp |
| FY 2020 Q3 | Apr 25, 2020 | 23.03% | 20.86% | — | 29.74% | 11.43% | 15.3 pp |
| FY 2020 Q2 | Jan 25, 2020 | 21.61% | 20.04% | — | 28.97% | 11.46% | 13.9 pp |
| FY 2020 Q1 | Oct 26, 2019 | 20.37% | 19.05% | — | 28.1% | 11.11% | 12.7 pp |
| FY 2019 Q4 | Jul 27, 2019 | 21.33% | 19.24% | — | 30.27% | 11.25% | 13.6 pp |
| FY 2019 Q3 | Apr 27, 2019 | 21.45% | 17.93% | — | 31.67% | 12.51% | 13.8 pp |
| FY 2019 Q2 | Jan 26, 2019 | 18.9% | 15.96% | — | 27.73% | 11% | 11.2 pp |
| FY 2019 Q1 | Oct 27, 2018 | 1.6% | 14.82% | — | 2.31% | 1.07% | -6.1 pp |
| FY 2018 Q4 | Jul 28, 2018 | 0.14% | 13.38% | — | 0.2% | 0.09% | -7.6 pp |
| FY 2018 Q3 | Apr 28, 2018 | — | 12.72% | — | -2.27% | -1.06% | — |
| FY 2018 Q2 | Jan 27, 2018 | — | 12.05% | — | -2.5% | -1.12% | — |
| FY 2018 Q1 | Oct 28, 2017 | 10.37% | 11.6% | -131.63% | 15.01% | 7.54% | 2.7 pp |
| FY 2017 Q4 | Jul 29, 2017 | 10.84% | 12.03% | -32.67% | 14.81% | 7.64% | 3.1 pp |
| FY 2017 Q3 | Apr 29, 2017 | 11.4% | 12.37% | -3.55% | 15.65% | 8.17% | 3.7 pp |
| FY 2017 Q2 | Jan 28, 2017 | 11.46% | 12.47% | -6.62% | 15.77% | 8.23% | 3.8 pp |
| FY 2017 Q1 | Oct 29, 2016 | 12.35% | 12.93% | 11.07% | 17.23% | 8.93% | 4.6 pp |
| FY 2016 Q4 | Jul 30, 2016 | 12.93% | 13.57% | 29.43% | 17.42% | 9.13% | 5.2 pp |
| FY 2016 Q3 | Apr 30, 2016 | 12.74% | 13.78% | 25.25% | 16.91% | 9.11% | 5 pp |
| FY 2016 Q2 | Jan 23, 2016 | 13.29% | 13.94% | 32.7% | 17.43% | 9.5% | 5.6 pp |
| FY 2016 Q1 | Oct 24, 2015 | 12.1% | 13.26% | 31.82% | 16.43% | 8.88% | 4.4 pp |
| FY 2015 Q4 | Jul 25, 2015 | 11.59% | 12.3% | 14.73% | 15.44% | 8.22% | 3.9 pp |
| FY 2015 Q3 | Apr 25, 2015 | 11.65% | 12.71% | — | 15.55% | 8.56% | 3.9 pp |
| FY 2015 Q2 | Jan 24, 2015 | 11.71% | 12.7% | — | 15.21% | 8.51% | 4 pp |
| FY 2015 Q1 | Oct 25, 2014 | 10.39% | 11.33% | — | 13.3% | 7.51% | 2.7 pp |
| FY 2014 Q4 | Jul 26, 2014 | 10.93% | 11.37% | -70.02% | 13.57% | 7.61% | 3.2 pp |
| FY 2014 Q3 | Apr 26, 2014 | — | 11.89% | — | 13.99% | 7.92% | — |
| FY 2014 Q2 | Jan 25, 2014 | — | 12.84% | — | 14.65% | 8.39% | — |
| FY 2014 Q1 | Oct 26, 2013 | — | 14.24% | — | 17.72% | 10.23% | — |
| FY 2013 Q4 | Jul 27, 2013 | 15.9% | 14.63% | 20.75% | 18.08% | 10.35% | 8.2 pp |
| FY 2013 Q3 | Apr 27, 2013 | — | 14.33% | — | 17.81% | 10.23% | — |
| FY 2013 Q2 | Jan 26, 2013 | — | 14.07% | — | 17.79% | 10.04% | — |
| FY 2013 Q1 | Oct 27, 2012 | — | 14.49% | — | 16.73% | 9.3% | — |
| FY 2012 Q4 | Jul 28, 2012 | 13.95% | 14.02% | 113.52% | 16.32% | 8.99% | 6.2 pp |
| FY 2012 Q3 | Apr 28, 2012 | — | 12.77% | — | 14.93% | 8.34% | — |
| FY 2012 Q2 | Jan 28, 2012 | — | 12.7% | — | 14.75% | 8.17% | — |
| FY 2012 Q1 | Oct 29, 2011 | — | 11.47% | — | 13.8% | 7.59% | — |
| FY 2011 Q4 | Jul 30, 2011 | 11.43% | 11.67% | -83.52% | 14.19% | 7.72% | 3.7 pp |
| FY 2011 Q3 | Apr 30, 2011 | — | 13.13% | — | 15.81% | 8.74% | — |
| FY 2011 Q2 | Jan 29, 2011 | — | 13.88% | — | 17.39% | 9.57% | — |
| FY 2011 Q1 | Oct 30, 2010 | — | 16% | — | 18.68% | 10.64% | — |
| FY 2010 Q4 | Jul 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | May 1, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jan 23, 2010 | — | — | — | — | — | — |
| FY 2010 Q1 | Oct 24, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · CSCO, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.