Cisco's Q4 fiscal 2026 earnings conference call slides (August 12, 2026) — a 32-slide deck covering record quarterly revenue of $17.3 billion up 18% with non-GAAP EPS of $1.22 up 23%, product orders up 35% year over year, $9.3 billion of AI infrastructure orders taken from hyperscalers in FY26 at roughly 4.5 times the prior year, the 'networking supercycle' thesis built on agentic AI traffic, the Silicon One and Acacia optics portfolio behind AI scale-across deployments, full-year FY26 revenue of $63.3 billion, capital allocation and RPO/ARR detail, and Q1 and full-year FY27 guidance with GAAP-to-non-GAAP reconciliations.
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Cisco's Q4 fiscal 2026 earnings conference call slides (August 12, 2026) — a 32-slide deck covering record quarterly revenue of $17.3 billion up 18% with non-GAAP EPS of $1.22 up 23%, product orders up 35% year over year, $9.3 billion of AI infrastructure orders taken from hyperscalers in FY26 at roughly 4.5 times the prior year, the 'networking supercycle' thesis built on agentic AI traffic, the Silicon One and Acacia optics portfolio behind AI scale-across deployments, full-year FY26 revenue of $63.3 billion, capital allocation and RPO/ARR detail, and Q1 and full-year FY27 guidance with GAAP-to-non-GAAP reconciliations.
มุมมองรายละเอียดของแต่ละหน้าสไลด์ รวมถึงlayout เนื้อหาหลักและองค์ประกอบภาพ
Cover slide for Cisco's fourth quarter fiscal 2026 conference call, dated August 12, 2026.
White ground with a soft rainbow gradient bleeding in from the top right corner; the three-line title set at the left; a white square inset at the right holds the Cisco wordmark, punched out of the gradient.
Short safe-harbour notice stating that the presentation contains projections and forward-looking statements that are only predictions, pointing to Cisco's Forms 10-K and 10-Q for risk factors. A second heading explains that references to financial measures will include non-GAAP measures, with the reconciliation published on the Cisco investor relations website.
Plain white slide with two bold headings and two short paragraphs in large readable type, the IR URL rendered as a blue link. Copyright line and Cisco mark in the footer.
Section divider introducing the market and business narrative.
White field with the same rainbow gradient bleeding from the right, the section title set in bold at left-centre. No other content.
Three overlapping circles. Significant AI Momentum: $9.3 billion of hyperscaler AI orders in FY26, a roughly 4.5x increase versus FY25; approximately $4 billion of hyperscale AI revenue in FY26 with $7.5 billion expected in FY27; $1.3 billion of AI orders from neocloud, sovereign and enterprise customers in FY26. Strong Financial Performance: FY26 revenue and EPS both exceeded the high end of guidance; the highest employee productivity metrics in 30 years for revenue, operating margin and earnings; FY27 revenue and EPS guides of 15% and 17% year-over-year growth. Accelerating Campus Refresh and DC Switching Growth: campus networking technology orders grew more than 15% year over year in FY26 with the next-gen portfolio ramping faster than prior launches; data center switching orders grew more than 25%; addressing a $100 billion-plus network refresh opportunity.
Three large overlapping circles in three blues — mid blue, bright cyan and dark navy — each holding a bold heading and three short paragraphs in white. No other furniture.
Six grouped claims. Double-digit top and bottom-line growth with record revenue and EPS exceeding guidance: $17.3 billion revenue up 18%, non-GAAP EPS $1.22 up 23%, record non-GAAP operating income of $6.2 billion at a 35.9% margin. Record demand with a networking supercycle underway: product orders up 35% year over year (25% excluding hyperscale), networking product orders up 40% marking an eighth consecutive quarter of double-digit growth. AI infrastructure: $4 billion of hyperscaler orders in Q4 bringing FY26 to $9.3 billion; $7.5 billion of hyperscaler AI revenue expected in FY27 against roughly $4 billion in FY26 and $1 billion in FY25; three new hyperscale design wins — one P200 scale-across, one G200 scale-out and one optical line system; more than $400 million of Q4 AI orders from neocloud, sovereign and enterprise customers, $1.3 billion in FY26, up roughly 150%. Campus refresh: record campus networking orders up 20%. Innovation: Cisco Cloud Control, PQC-compliant C9550 core smart switch and 8600 secure router, the Antares family of open-weight SLMs, and founding membership of Anthropic's Project Glasswing and OpenAI's Daybreak. Capital return: $3.2 billion in Q4, 63% of free cash flow.
A single dense two-level bullet list filling the whole white slide — six bold parent claims each with two to four sub-bullets. No graphics at all.
Quarterly AI infrastructure orders from hyperscalers across eight quarters: the four FY25 quarters totalling $2 billion, rising through FY26 to a Q4 peak near $4 billion and a FY26 total of $9.3 billion — a roughly 4.5x increase. A note states the AI orders do not include neocloud, sovereign or AI enterprise orders taken.
Eight blue bars on a white ground, grouped into two outlined boxes labelled '$2B in FY25' and '$9.3B in FY26', with a broad gradient arrow rising between them carrying the '~4.5x Increase' label.
The thesis: as customers assess their most economical AI consumption model and where to deploy applications, Cisco benefits from portfolio depth, low-latency high-bandwidth networking and built-in security, observability and automation in a co-designed vertically integrated stack. Three customer cohorts: Hyperscalers — $9.3 billion of AI infrastructure orders in FY26 up triple digits with roughly $4 billion of revenue recognised, growth from four of the top hyperscalers, platforms Series 8K, Silicon One and Optics including Acacia, outlook of $7.5 billion AI revenue in FY27. Neo/Sovereign Clouds & Enterprises — DC networking orders up 25% with $1.3 billion taken in FY26, platforms Nexus DC Switching, Security and Splunk, multi-billion dollar pipeline. Campus/Workplace — campus orders up more than 15%, platforms Catalyst and Smart Switch, Enterprise Routing, Wireless, IoT and Security, still early in a multi-year refresh cycle addressing a $100 billion-plus opportunity.
A boxed thesis statement across the top, then two header bars — Data Center Infrastructure in navy and Campus-Edge Infrastructure in bright blue — over three outlined cards each carrying Orders, Platforms and Outlook. A full-width footer band lists six capability pills.
As agentic AI workloads expand and agents engage continuously with end-users, network traffic will not only exceed today's chatbot levels but stay persistently high — a 450% increase in traffic versus humans. Because agents process and respond at machine speed, ultra-low-latency connectivity becomes mission critical from edge to data center core, requiring network upgrades with multiple layers of security embedded in the fabric. A disclaimer notes the graphic is illustrative rather than based on customer network data, and cites the Cisco Report 2026: AI Impact on Wide Area Networks for the 450% figure.
Boxed thesis at the top, then a wide chart panel: spiky low green-to-orange traffic peaks labelled 'Chatbots' at the left, a blue '+450%' arrow in the middle, and a solid saturated block labelled 'Agentic AI Interactions' at the right.
Product photography for the Catalyst 9000 family, C9350 and C9610 smart switches, Wi-Fi 7 access points and the industrial IoT portfolio. Highlights: campus networking had record orders in Q4 FY26, up 20% year over year; the next-gen portfolio is ramping faster than prior launches; wireless delivered a record Q4 with bookings up more than 25% and Wi-Fi 7 representing more than 50% of the wireless bookings mix; Wi-Fi 7 bandwidth above 1Gbps is driving multi-gigabit ethernet attach on campus switches; and the industrial IoT portfolio had record Q4 orders with double-digit growth for nine consecutive quarters.
An outlined panel across the top holding four product photographs with captions, and a second outlined panel below carrying the bulleted highlights with nested sub-bullets.
The Silicon One family laid out by bandwidth: A-Series for integrated access (campus and provider access), K-Series for services routers (provider edge and enterprise core), E-Series for enterprise switch (campus and data center), P-Series to scale across data centers (WAN and AI inter-data center), and G-Series to scale within the data center (AI cluster and cloud). Highlights: one new P200-powered system design win for a hyperscale scale-across use case in Q4 FY26; one new G200-powered design win for a scale-out use case; momentum ramping with line-of-sight to multiple design wins over the next six months across G300, G200, P200 and A100. Closing claim: comprehensive Cisco-wide adoption of the Silicon One architecture for high-performance networking systems for hyperscale and enterprise by FY29.
Five chip renders in a row across the top with two-line captions, above a broad gradient 'Bandwidth' arrow running left to right. An outlined highlights panel sits at the lower left; four product photographs — G300 and P200 chips, liquid-cooled and air-cooled systems — at the lower right.
Cisco is described as one of few providers able to deliver AI scale-across systems, silicon, coherent pluggables and optical open line systems; scale-across connects GPU back-end fabrics across data center locations, driving a roughly 14x data center interconnect bandwidth increase and requiring 12,000–32,000 coherent ports against 1,000–2,000 traditionally. Three columns: Silicon One P200-powered systems — powers the Cisco 8223 and N9000, one new hyperscale design win in Q4 FY26 and two in Q3 FY26, with AI infrastructure orders already received from each of the three new P200 design wins, displacing competitors. Optical Systems — a complete portfolio of open line systems and transponders, the NCS Series, and the forthcoming OT3000 Series OLS with a multi-rail architecture. Acacia coherent pluggables — market leader, exceeded $1 billion in bookings in Q4 FY26 specifically for AI infrastructure, over 850,000 units shipped for 400G ports and over 75,000 for 800G.
Boxed thesis at the top, three coloured header bars in navy, bright blue and cyan, three text cards beneath, and a fourth row of outlined panels holding product photographs for each column.
The bandwidth hierarchy: traditional data center interconnect connects two facilities at 1x bandwidth requiring 1,000–2,000 coherent ports; AI scale-across connects GPU back-end fabrics across data centers at roughly 14x DCI bandwidth requiring 12,000–32,000 coherent ports; and the shift from thousands to tens of thousands of ports underscores the need for purpose-built silicon, deep buffering, proactive congestion control and coherent optics.
Boxed three-bullet hierarchy at the top; below, a diagram of two data centers each split into Front End (CPUs) and Back End (GPUs), joined by a 1x bandwidth WAN/DCI link and a 14x scale-across link, with a globe illustration of distributed AI data centers at the right.
Section divider introducing the financial section.
The gradient divider construction reused with a different heading.
Revenue by geography: Americas $8,822 million in Q4 FY25, $9,569 million in Q3 FY26 and $10,396 million in Q4 FY26; EMEA $3,645M, $4,054M and $4,350M; APJC $2,206M, $2,218M and $2,506M; geographic total $14,673M, $15,841M and $17,252M. Total gross margin percentage: Americas 68.0%, 63.7% and 64.5%; EMEA 71.7%, 71.3% and 70.1%; APJC 64.2%, 66.1% and 67.3%; total 68.4%, 66.0% and 66.3%.
Two side-by-side tables sharing one row-label column, each with three period columns whose headers step from navy through mid blue to cyan so the newest period is the brightest. Alternating row shading, bold total row.
Revenue by category with year-over-year growth: Networking $9,791 million up 28%, Security $2,226 million up 14%, Collaboration $1,167 million up 12%, Observability $275 million up 6%, Services $3,793 million flat, total Cisco $17,252 million up 18%.
A single six-row table centred on the slide, with a navy category header and bright blue $M and Y/Y headers, alternating row shading and a grey total row.
Remaining performance obligations of $43.5 billion in Q4 FY25, $43.5 billion in Q3 FY26 and $46.7 billion in Q4 FY26, with year-over-year change of 6%, 4% and 7%; product RPO $21.6B, $22.1B and $23.4B; services RPO $22.0B, $21.4B and $23.3B. Annualized recurring revenue $31.1 billion, $31.2 billion and $32.1 billion, up 5%, 2% and 3%; product ARR $17.0B, $17.5B and $17.9B; services ARR $14.1B, $13.8B and $14.3B. Footnotes define ARR and note it should be viewed independently of revenue, deferred revenue and RPO.
One table with three period columns, the Q4 FY 2026 column framed in a light blue outline. RPO and ARR parent rows are reversed out in navy; year-over-year change rows are set in italic grey beneath each figure.
Total product orders up 35% year over year. By geographic segment: Americas 44%, EMEA 25%, APJC 19%. By customer market: Enterprise 21%, Public Sector 30%, Service Provider & Cloud 95%.
A centred headline stating the total, then two small tables side by side with cyan header bars, three rows each, and a great deal of white space below.
Revenue $14,673 million in Q4 FY25, $15,841 million in Q3 FY26 and $17,252 million in Q4 FY26, up 8%, 12% and 18%, split product $10,886M / $12,117M / $13,459M and services $3,787M / $3,724M / $3,793M. Gross margin 63.2%, 63.6% and 64.1%, with product gross margin 61.5% / 61.9% / 62.6% and services 68.3% / 69.2% / 69.4%. Operating expenses $6,193M, $6,120M and $6,799M at 42.2%, 38.6% and 39.4% of revenue, with operating income at 21.0%, 25.0% and 24.7%. Net income $2,550M, $3,373M and $3,859M, up 18%, 35% and 51%. Diluted EPS $0.64, $0.85 and $0.97, up 19%, 37% and 52%.
One table across three period columns with the newest framed in light blue; parent rows in dark type on shaded bands, sub-metrics in grey beneath each parent.
The same three periods on a non-GAAP basis: revenue unchanged at $14,673M, $15,841M and $17,252M; gross margin 68.4%, 66.0% and 66.3% with product gross margin 67.5% / 64.3% / 64.8% and services 70.8% / 71.6% / 71.6%; operating expenses $5,002M, $5,046M and $5,243M at 34.1%, 31.9% and 30.4% of revenue with operating income at 34.3%, 34.2% and 35.9%; net income $3,951M, $4,227M and $4,868M, up 12%, 10% and 23%; diluted EPS $0.99, $1.06 and $1.22, up 14%, 10% and 23%.
The GAAP slide's layout repeated exactly, so the two can be compared line by line by flipping between pages.
Cash, cash equivalents and investments $16,110 million, $16,640 million and $15,918 million; operating cash flow $4,234M, $3,757M and $5,386M; inventory $3,164M, $4,708M and $5,694M; inventory purchase commitments $7,599M, $16,033M and $17,165M; deferred revenue $28,779M, $28,599M and $29,781M, of which product $13,490M / $13,461M / $13,817M and services $15,289M / $15,138M / $15,964M; software revenue $5,593M, $5,660M and $6,183M.
A single eight-row table across three period columns with the newest framed, alternating row shading, and the two deferred revenue components indented beneath their parent.
Total capital allocation: share repurchases $1,502 million in Q4 FY26 and $6,106 million in FY26; dividends paid $1,659M and $6,553M; total $3,161M and $12,659M; dividend per share $0.42 and $1.66. Share repurchase detail: amount purchased $1,502M and $6,106M; number of shares 13 million and 76 million; average price per share $111.53 and $80.26. A note states approximately $8.1 billion of authorised funds remained in the repurchase program at the end of Q4 FY26.
Two stacked tables, each with a cyan title bar spanning the row labels and two period columns framed together in light blue. Ample white space below.
Full-year GAAP results: revenue $56,654 million in FY25 and $63,325 million in FY26, up 5% and 12%, split product $41,608M / $48,295M and services $15,046M / $15,030M. Gross margin 64.9% and 64.5%, product 63.7% / 63.2% and services 68.5% / 68.8%. Operating expenses $25,030M and $25,492M at 44.2% and 40.3% of revenue, operating income at 20.8% and 24.3%. Net income $10,180M and $13,267M, changing (1)% and 30%. Diluted EPS $2.55 and $3.33, changing 0% and 31%.
The quarterly income statement layout narrowed to two columns, FY 2025 and FY 2026, with the newer year framed in light blue.
Full-year non-GAAP results: revenue $56,654 million and $63,325 million, up 5% and 12%; gross margin 68.7% and 66.9%, product 67.9% / 65.6% and services 71.0% / 71.2%; operating expenses $19,447M and $20,352M at 34.3% and 32.1% of revenue with operating income at 34.4% and 34.8%; net income $15,213M and $17,249M, changing 0% and 13%; diluted EPS $3.81 and $4.33, changing 2% and 14%.
The FY GAAP slide repeated on a non-GAAP basis, identical row order and framing.
Section divider introducing the guidance section.
The gradient divider construction reused a third time.
Revenue $18.0–18.2 billion; non-GAAP gross margin 65–66%; non-GAAP operating margin 35.5–36.5%; non-GAAP EPS $1.32–1.34. Notes: GAAP EPS is estimated at $1.08 to $1.10; guidance assumes an effective tax provision rate of approximately 15% for GAAP and 18.5% for non-GAAP; and a GAAP-to-non-GAAP reconciliation appears in the supplemental materials.
A four-row two-column table with a cyan header, followed by three bulleted notes. Generous white space below.
Full-year revenue $72.2–73.4 billion and non-GAAP EPS $5.05–5.11. Notes: GAAP EPS estimated at $4.00 to $4.06; an effective tax provision rate of approximately 14.5% for GAAP and 18.5% for non-GAAP; and a pointer to the supplemental reconciliation.
The Q1 guidance slide with only two rows — the shortest table in the deck — and the same three-bullet note block beneath.
Divider marking the transition to the question and answer session.
The gradient divider with a two-character heading — the shortest title in the deck.
The complete safe-harbour disclosure under the Private Securities Litigation Reform Act of 1995, covering statements about supporting customers wherever they deploy AI, AI infrastructure momentum from hyperscalers, broad-based demand and growth opportunities, and the actual impact of tariffs on Q1 FY27 and full-year FY27 guidance, followed by an extensive list of risk factors and a pointer to the Forms 10-Q and 10-K filed May 19, 2026 and September 3, 2025.
A single justified block of small text filling the entire white slide beneath a bold heading. No graphics.
Brand slide carrying only the Cisco logo.
Plain white slide with the Cisco bridge mark and wordmark centred, nothing else.
Section divider introducing the reconciliation appendix.
The gradient divider construction for the fourth and final time.
Q1 FY27 GAAP gross margin 63–64%, operating margin 28–29% and EPS $1.08–1.10. Estimated adjustments: share-based compensation expense 1.0% of gross margin, 4.5% of operating margin and $0.14 of EPS; amortisation of acquisition-related intangibles and other acquisition/divestiture costs 1.0%, 2.5% and $0.09; restructuring and other charges nil, 0.5% and $0.01. Non-GAAP gross margin 65–66%, operating margin 35.5–36.5% and EPS $1.32–1.34. Footnotes note that per-share adjustments are shown after tax effects and that the restructuring charges relate to the plan announced May 13, 2026, expected to be substantially completed during fiscal 2027.
A reconciliation table with a cyan header, GAAP and non-GAAP rows reversed out on grey bands, and three indented adjustment rows between them, across three metric columns.
Full-year FY27 GAAP operating margin 27% and EPS $4.00–4.06. Estimated adjustments: share-based compensation 5% and $0.60; amortisation of acquisition-related intangibles and other acquisition/divestiture costs 2% and $0.34; restructuring and other charges 1% and $0.11. Non-GAAP operating margin 35% and EPS $5.05–5.11.
The Q1 reconciliation repeated for the full year with two metric columns instead of three.
คำถามทั่วไปเกี่ยวกับสไลด์นี้และเนื้อหาการนำเสนอพื้นฐาน
The full 32-slide Cisco Q4 FY26 conference call deck as both PDF and editable PowerPoint, plus a page-by-page preview. The PPTX keeps the tables editable so the highlight-column styling can be reused with your own figures.
Yes. The PDF is the file Cisco published on its investor relations site for the fourth quarter of fiscal 2026 conference call held August 12, 2026. The PowerPoint was converted from that PDF for editing convenience — check any layout you plan to reuse, since conversion is not always pixel-perfect.
Revenue of $17.3 billion, up 18% and a record, with non-GAAP EPS of $1.22 up 23% and record non-GAAP operating income of $6.2 billion at a 35.9% margin. GAAP net income was $3,859 million with diluted EPS of $0.97, up 52%. Product orders grew 35% year over year, or 25% excluding hyperscale.
Cisco took $9.3 billion of AI infrastructure orders from hyperscalers in FY26, roughly 4.5 times FY25's $2 billion, and recognised about $4 billion of revenue, guiding to $7.5 billion in FY27. A separate $1.3 billion of AI orders came from neocloud, sovereign and enterprise customers, up about 150%.
Four slides make it. Agentic AI traffic is projected to run 450% above human-driven levels and stay persistently high, requiring low-latency upgrades with security in the fabric. AI scale-across connects GPU fabrics between data centers at roughly 14x the bandwidth of traditional interconnect, moving port counts from 1,000–2,000 to 12,000–32,000. Cisco positions Silicon One, Acacia optics and the campus refresh cycle as the portfolio that captures it.
For Q1 FY27: revenue $18.0–18.2 billion, non-GAAP gross margin 65–66%, non-GAAP operating margin 35.5–36.5% and non-GAAP EPS $1.32–1.34, with GAAP EPS of $1.08–1.10. For the full year: revenue $72.2–73.4 billion and non-GAAP EPS $5.05–5.11, with GAAP EPS of $4.00–4.06. Both are fully reconciled in the supplemental materials at the back.
The financial half is the part worth copying. Every table uses three periods — prior-year quarter, prior quarter, current quarter — with the current one framed in a light outline rather than bolded, and each income statement appears twice in identical layouts, once GAAP and once non-GAAP, so a reader can flip between them.
White ground, one rainbow gradient reserved entirely for section dividers, and a blue palette that steps by recency — navy for the oldest period, mid blue for the middle, cyan for the newest. That single convention means no table needs a legend or a bold row to tell you where to look.
Original PDF published by Cisco alongside the Q4 FY26 earnings release on August 12, 2026.
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