Question 1

What is Cisco's P/FCF ratio?

Accepted Answer

Cisco (CSCO) P/FCF ratio is 35.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Cisco?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Cisco specifically, the relevant sector benchmark is the current sector median of 21.8×.

Question 5

Is Cisco's P/FCF ratio high or low?

Accepted Answer

Cisco's P/FCF ratio of 35.5× is above its own 5-year average of 17.0× and above the sector median of 21.8×. That places the current reading at the 97th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Cisco's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Cisco (CSCO) P/FCF ratio has ranged from a low of 8.2× in 2012 to a high of 41.1× in 2026. The 5-year average is 17.0× and the 5-year median is 16.3×.

Question 7

What was Cisco's P/FCF ratio in 2025?

Accepted Answer

Cisco (CSCO) P/FCF ratio at the end of 2025 was 20.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Cisco's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$272B	$13.3B	20.5×	+1.6×	Jul 26, 2025
2024	$192B	$10.2B	18.8×	+7.7×	Jul 27, 2024
2023	$212B	$19B	11.1×	-3.5×	Jul 31, 2023
2022	$187B	$12.7B	14.7×	-1.2×	Jul 31, 2022
2021	$233B	$14.8B	15.8×	+2.2×	Jul 31, 2021
2020	$199B	$14.7B	13.6×	-2.3×	Jul 31, 2020
2019	$237B	$14.9B	15.9×	+0.5×	Jul 31, 2019
2018	$198B	$12.8B	15.4×	+3.2×	Jul 31, 2018
2017	$157B	$12.9B	12.2×	-0.3×	Jul 31, 2017
2016	$155B	$12.4B	12.4×	-0.3×	Jul 31, 2016
2015	$145B	$11.3B	12.8×	+1.1×	Jul 31, 2015
2014	$129B	$11.1B	11.7×	-0.0×	Jul 31, 2014
2013	$137B	$11.7B	11.7×	+3.5×	Jul 31, 2013
2012	$85B	$10.4B	8.2×	-1.5×	Jul 31, 2012
2011	$86.8B	$8.91B	9.7×	-4.6×	Jul 31, 2011
2010	$131B	$9.17B	14.3×	+0.0×	Jul 31, 2010
2009	$127B	$8.89B	14.3×	+2.3×	Jul 31, 2009
2008	$130B	$10.8B	12.0×	-7.8×	Jul 31, 2008
2007	$175B	$8.85B	19.8×	+4.5×	Jul 31, 2007
2006	$109B	$7.13B	15.3×	-2.6×	Jul 31, 2006
2005	$123B	$6.88B	17.8×	-3.9×	Jul 31, 2005
2004	$141B	$6.51B	21.7×	-8.5×	Jul 31, 2004
2003	$136B	$4.52B	30.2×	+5.9×	Jul 31, 2003
2002	$95.9B	$3.95B	24.3×	—	Jul 31, 2002


Zebra Technologies (ZBRA)	12.2×
Skyworks Solutions (SWKS)	11.9×
Cognizant (CTSH)	11.8×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
QUALCOMM (QCOM)	10.8×
Leidos Holdings (LDOS)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Qorvo (QRVO)	10.4×
Adobe (ADBE)	9.8×
Accenture (ACN)	9.6×
Strategy (MSTR)	9.2×
Gartner (IT)	8.8×
Fidelity National Information Services (FIS)	8.7×
DocuSign (DOCU)	8.0×
Gen Digital (GEN)	7.5×
Fiserv (FISV)	7.2×
Science Applications International (SAIC)	7.0×
Hewlett Packard Enterprise (HPE)	6.8×
GoDaddy (GDDY)	6.7×
HP (HPQ)	5.1×
Lyft (LYFT)	4.5×
IBM (IBM)	0.0×

P/FCF Ratio for Cisco (CSCO) 2002-2026

P/FCF Ratio daily chart for Cisco (CSCO)

Historical P/FCF Ratio for Cisco (CSCO) from 2002 to 2025

About P/FCF Ratio at Cisco (CSCO)

Cisco P/FCF Ratio by Year

Cisco P/FCF Ratio 2025: 20.5×

Cisco P/FCF Ratio 2024: 18.8×

Cisco P/FCF Ratio 2023: 11.1×

Cisco P/FCF Ratio 2022: 14.7×

Cisco P/FCF Ratio 2021: 15.8×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Cisco (CSCO) Key Financials