Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Cisco Systems Inc., EBITDA calculation

US$ in millions

12 months ended:	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Net income	10,320)	12,613)	11,812)	10,591)	11,214)	11,621)
Add: Income tax expense	1,914)	2,705)	2,665)	2,671)	2,756)	2,950)
Earnings before tax (EBT)	12,234)	15,318)	14,477)	13,262)	13,970)	14,571)
Add: Interest expense	1,006)	427)	360)	434)	585)	859)
Earnings before interest and tax (EBIT)	13,240)	15,745)	14,837)	13,696)	14,555)	15,430)
Add: Depreciation, amortization, and other	2,507)	1,726)	1,957)	1,862)	1,808)	1,897)
Earnings before interest, tax, depreciation and amortization (EBITDA)	15,747)	17,471)	16,794)	15,558)	16,363)	17,327)

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Cisco Systems Inc. EBITDA increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Cisco Systems Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	252,990)
Earnings before interest, tax, depreciation and amortization (EBITDA)	15,747)
Valuation Ratio
EV/EBITDA	16.07
Benchmarks
EV/EBITDA, Competitors¹
Apple Inc.	26.08
Arista Networks Inc.	58.61
Dell Technologies Inc.	10.99
Super Micro Computer Inc.	22.48
EV/EBITDA, Sector
Technology Hardware & Equipment	25.46
EV/EBITDA, Industry
Information Technology	36.79

Based on: 10-K (reporting date: 2024-07-27).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Cisco Systems Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	209,173)	212,520)	176,666)	234,167)	158,523)	196,810)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	15,747)	17,471)	16,794)	15,558)	16,363)	17,327)
Valuation Ratio
EV/EBITDA³	13.28	12.16	10.52	15.05	9.69	11.36
Benchmarks
EV/EBITDA, Competitors⁴
Apple Inc.	25.29	21.66	19.15	20.47	23.12	13.59
Arista Networks Inc.	—	31.29	24.52	37.29	26.96	16.05
Dell Technologies Inc.	11.43	6.61	4.85	9.32	8.64	11.54
Super Micro Computer Inc.	—	16.77	10.50	11.19	10.65	7.75
EV/EBITDA, Sector
Technology Hardware & Equipment	—	20.01	17.26	19.17	19.89	13.10
EV/EBITDA, Industry
Information Technology	—	23.49	18.19	20.35	19.58	14.41

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ See details »

² See details »

³ 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 209,173 ÷ 15,747 = 13.28

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Cisco Systems Inc. EV/EBITDA ratio increased from 2022 to 2023 and from 2023 to 2024.

Cisco Systems Inc. (NASDAQ:CSCO)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical