AAPL vs CSCO: Apple and Cisco Systems compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Apple is the larger company, worth $4.97T, about 9.2 times Cisco Systems.
- Cisco Systems grew revenue faster over the last year (+17.6% vs +16.4%).
- Apple keeps more of each dollar of revenue as operating profit (33.2% vs 24.3%).
- On earnings, Apple is the cheaper stock (40.9x vs 45.8x).
- Apple's price assumes faster free cash flow growth: about 17% a year, against 15% for Cisco Systems (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AAPL | CSCO |
|---|---|---|
| Market cap | $4.97T | $542.6B |
| Share price | $336.64 | $118.39 |
| Revenue (last fiscal year) | $416.2B | $63.3B |
| Free cash flow (last fiscal year) | $98.8B | $12.8B |
| Revenue growth, last year | +16.4% | +17.6% |
| Revenue growth per year, last 5 fiscal years | +3.3% | +5.3% |
| Operating margin | 33.2% | 24.3% |
| Net margin | 27.6% | 20.9% |
| Return on equity | 119.9% | 26.4% |
| P/E (trailing) | 40.9x | 45.8x |
| Price / free cash flow | 50.3x | 40.8x |
| EV / EBITDA | 28.9x | 23.6x |
| FCF growth the price implies | 17.1% | 14.9% |
| Dividend yield | 0.31% | 1.2% |
| Debt / equity | 2.56x | 1.58x |
| Fundamental grade | C | B |
| Superinvestors holding it | 25 | 15 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Apple
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $365.8B | $93.0B | 29.8% |
| 2022 | $394.3B | $111.4B | 30.3% |
| 2023 | $383.3B | $99.6B | 29.8% |
| 2024 | $391.0B | $108.8B | 31.5% |
| 2025 | $416.2B | $98.8B | 32.0% |
Cisco Systems
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $51.6B | $12.7B | 27.1% |
| 2023 | $57.0B | $19.0B | 26.4% |
| 2024 | $53.8B | $10.2B | 22.6% |
| 2025 | $56.7B | $13.3B | 20.8% |
| 2026 | $63.3B | $12.8B | 24.3% |
Where the revenue comes from
Apple · by products, 2025
iPhone$209.6B50%
Services$109.2B26%
Wearables, Home and Accessories$35.7B9%
Mac$33.7B8%
iPad$28.0B7%
Cisco Systems · by segments, 2026
Americas$37.8B60%
EMEA$16.6B26%
APJC$8.9B14%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AAPL in InvestinglyQuestions
Which is bigger, Apple or Cisco Systems?
Apple (AAPL), at $4.97T against $542.6B.
Is AAPL or CSCO cheaper?
By trailing P/E, Apple (40.9x) is cheaper than Cisco Systems (45.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, AAPL or CSCO?
Cisco Systems: revenue grew +17.6% over the last year, against +16.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.