By Trefis Team
Publication Date: 2026-09-23 19:16:00
Cisco Systems (CSCO) trades near $106 a share, about 24.6 times the $4.33 of non-GAAP earnings per share it reported for fiscal 2026. That is the same basis Cisco uses for its guidance and analysts use for their forecasts. For a networking supplier with $63.33 billion of revenue behind it, that is rich. And it ignores the two years analysts have already forecast.
Where Cisco’s Rich Price Came From
Cisco has returned about 59% over the past twelve months and still trades about 18% below its 52-week high. Buyers at 24.6 times are paying for earnings Cisco has not reported yet.
But Cisco Has Already Guided To The First Year
On what analysts expect for fiscal 2027, that same price is about 20.6 times earnings. On the earnings expected for fiscal 2028, it is about 19.1 times.
Both are forecasts. The first one barely is. Analysts put fiscal 2027 earnings at about $5.12 a share, and Cisco guided that year to non-GAAP earnings of $5.05 to $5.11 a share. Consensus sits…
