Cisco revenue scenarios to 2028
Projected revenue by year ($bn)
| Scenario | 2026 | 2027 | 2028 | CAGR |
|---|---|---|---|---|
| Base | 63 | 71 | 79 | 11.9% |
Assumptions
| Segment | FY25 revenue | Op. margin | Bear | Base | Bull | σ measured |
|---|---|---|---|---|---|---|
| Total revenue | $56.7B | 24% | 11.9% | 0.0pp |
Method
Revenue is compounded from the FY25 actual at a constant annual rate, and operating income, net income and free cash flow apply CoreValue Research's projected margins to it.
The base case is CoreValue Research's estimate. It is the analyst's own forecast
for each line.
No bear or bull range is published for this company yet. Our ranges are not
chosen — their width is the measured sample standard deviation of each segment's realised growth,
which we cannot compute until that company's segment history is loaded into our database. Rather
than invent a range, we show the base case alone until the history is in. The companies that do
carry a range show it as the base case minus and plus a quarter of that measured σ.
CoreValue Research publishes a base case for this company. A bear and bull range is the base case plus or minus a quarter of a standard deviation of realised growth, which cannot be measured until the segment history is loaded, so no range is shown rather than an invented one.
Citation — CoreValue Research, “Cisco revenue scenarios to 2028”, model v2026.Q2, August 11, 2026. Base case: $79B revenue and $19B operating income in 2028, assuming revenue grows 11.9% a year.