Cisco vs Hyundai: Revenue, Profit and Business Model
Cisco reported $63.3B of revenue in FY2026 and $13.3B of net income. Hyundai reported ~$132.2B of revenue in FY2025 and ~$6.7B of net income.
Latest financial snapshot
Financial summary
Cisco
Cisco's revenue fell 5.6% to $53.8 billion in FY2024 as customers worked through excess inventory, then recovered to $56.7 billion in FY2025 and a record $63.3 billion in FY2026 (up 12%). FY2026 GAAP net income was about $13.3 billion, GAAP EPS was $3.33 (up 31%), and non-GAAP EPS was $4.33. Growth accelerated through the year: Q4 FY2026 revenue was $17.3 billion, up 18%, with product revenue up 24% and total product orders up 35%. Cisco said it recognized about $4 billion of AI infrastructure revenue from hyperscalers in FY2026 and expects about $7.5 billion in FY2027, within total FY2027 revenue guidance of $72.2-73.4 billion. The company also pays a quarterly dividend and buys back stock.
Hyundai
Hyundai's revenue has grown every year since 2020, from ~$83.5 billion (KRW 117.6 trillion) in 2021 to ~$132 billion (KRW 186.25 trillion) in 2025. Profit peaked in 2023 and 2024, when operating profit topped ~$9.94 billion (KRW 14 trillion) on a rich SUV mix and a weak won. In 2025 operating profit fell 19.5% to ~$8.14 billion (KRW 11.47 trillion) and net profit fell 21.7% to ~$7.36 billion (KRW 10.36 trillion), mostly because of U.S. tariffs. Q2 2026 revenue was a record ~$34.9 billion (KRW 49.22 trillion), up 1.9%, but operating profit dropped 20.8% to ~$2.02 billion (KRW 2.85 trillion), leaving H1 2026 operating profit at ~$3.81 billion (KRW 5.37 trillion) against ~$5.14 billion (KRW 7.24 trillion) a year earlier. The company paid a total 2025 dividend of KRW 10,000 per share, and its 2026 guidance calls for 1-2% revenue growth and a 6.3-7.3% operating margin, which its CFO said in July it may miss on volume.
Revenue and profit by year
Cisco
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $63.3B | $13.3B | 21.0% | +11.8% | Source |
| FY2025 | $56.7B | $10.2B | 18.0% | +5.3% | Source |
| FY2024 | $53.8B | $10.3B | 19.2% | -5.6% | Source |
| FY2023 | $57B | $12.6B | 22.1% | +10.6% | Source |
| FY2022 | $51.6B | $11.8B | 22.9% | +3.5% | Source |
| FY2021 | $49.8B | $10.6B | 21.3% | +1.0% | Source |
| FY2020 | $49.3B | $11.2B | 22.7% | -5.0% | Source |
| FY2019 | $51.9B | $11.6B | 22.4% | +5.2% | Source |
| FY2018 | $49.3B | $110M | 0.2% | +2.8% | Source |
| FY2017 | $48B | $9.6B | 20.0% | — | Source |
Hyundai
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$132.2B | ~$6.7B | 5.1% | +6.3% | Source |
| FY2024 | ~$124.4B | ~$8.9B | 7.1% | +7.7% | Source |
| FY2023 | ~$115.5B | ~$8.5B | 7.4% | +14.4% | Source |
| FY2022 | ~$100.9B | ~$5.2B | 5.2% | +20.9% | Source |
| FY2021 | ~$83.5B | ~$3.5B | 4.2% | — | Source |
Where the revenue comes from
Cisco
- Secure, Agile Networks (Networking)~49%
Enterprise switching, routing, and wireless products including Catalyst, Nexus, and Meraki platforms. Cisco's largest and most established segment.
- Security~11%
Cybersecurity products including firewalls, zero-trust solutions, XDR, and the Splunk observability platform acquired in 2024 for $28 billion.
- Collaboration~9%
Webex video conferencing, unified communications, contact center solutions, and collaboration devices for hybrid work environments.
- Observability~8%
Full-stack observability including AppDynamics, ThousandEyes, and Splunk's SIEM/observability capabilities for monitoring application and network performance.
- Services~23%
Technical support, advisory services, and implementation services tied to Cisco's hardware and software portfolio. High-margin recurring revenue stream.
Hyundai
- SUVs and Passenger Vehicles
Core revenue engine
Tucson, Santa Fe, Palisade, Sonata, Elantra, and other global models generate volume, dealer traffic, and cash flow across major regions.
- Hybrids and Electrified Vehicles
Growth and transition
Hybrid, plug-in hybrid, battery-electric, and fuel-cell vehicles support Hyundai's transition while giving buyers powertrain choice during uneven EV adoption.
- Genesis Luxury
Premium margin contributor
Genesis sedans and SUVs lift brand perception and average transaction prices while competing with Lexus, Mercedes-Benz, BMW, and Audi.
- Parts, Services, and Mobility
Recurring and adjacent
After-sales service, parts, connected services, fleet offerings, robotics, and future mobility investments extend Hyundai beyond one-time vehicle sales.
Business model and strategy
Cisco
How it makes money
Cisco makes money in two ways: product sales and services. Products (switches, routers, wireless, Silicon One-based data center and AI networking gear, firewalls, Splunk and other security and observability software, and Webex) made up about $13.5 billion of the $17.3 billion Q4 FY2026 revenue, while services (technical support, advisory, and maintenance contracts) contributed about $3.8 billion.
Growth strategy
Cisco's growth plan rests on three areas. First, AI infrastructure: Silicon One chips, Nexus and Cisco 8000 systems, and optics sold to hyperscalers and, increasingly, to neoclouds, sovereign AI projects, and enterprises building their own AI clusters. Second, campus and branch refresh, as enterprises upgrade switching and Wi-Fi for AI workloads.
Competitive advantage
Cisco's advantage is how deeply its equipment is built into corporate networks. The saying in IT is that 'nobody ever got fired for buying Cisco': large banks and other enterprises choose it for reliability. Replacing an integrated Cisco network with cheaper hardware is a multi-year project with real risk, so most CIOs stay, which gives Cisco a durable installed base.
Hyundai
How it makes money
Hyundai earns most of its revenue from wholesale vehicle sales to dealers and distributors across North America, Korea, Europe, India and emerging markets. Three layers sit on top of that core: the Genesis luxury brand, which lifts average transaction prices; a finance division (Hyundai Capital and Hyundai Capital America) that earns interest and lease income on vehicle loans; and after-sales parts and service.
Growth strategy
Hyundai's growth strategy rests on four moves: localising production in the United States, India and other big markets to avoid tariffs; expanding hybrids across its range while keeping EV investment flexible; pushing Genesis higher in luxury; and building software, autonomous driving and robotics. In the U.S.
Competitive advantage
Hyundai's edge is breadth plus speed. It can offer gasoline, hybrid, plug-in, battery-electric and hydrogen versions of key models, which matters as EV demand stalls in some markets and hybrids take more than a quarter of its U.S. sales.
Questions about Cisco vs Hyundai
Which company has higher revenue — Cisco Systems, Inc. or Hyundai Motor Company?
Cisco Systems, Inc. reported $63.3B (FY2026), while Hyundai Motor Company reported ~$132.2B (FY2025). By last reported revenue, Hyundai Motor Company is the larger business, with Cisco Systems, Inc. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Cisco Systems, Inc. vs Hyundai Motor Company?
Cisco Systems, Inc.'s market capitalisation stands at $420.7B, while Hyundai Motor Company's is $52.0B. Cisco Systems, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Hyundai Motor Company.
Which is more financially efficient — Cisco Systems, Inc. or Hyundai Motor Company?
Cisco Systems, Inc. generates $769k / employee in revenue per employee, while Hyundai Motor Company generates $1.08M / employee. Hyundai Motor Company shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Cisco Systems, Inc. and Hyundai Motor Company make money?
Cisco Systems, Inc. and Hyundai Motor Company generate revenue in fundamentally different ways. Cisco Systems, Inc.: Cisco makes money in two ways: product sales and services. Hyundai Motor Company: Hyundai earns most of its revenue from wholesale vehicle sales to dealers and distributors across North America, Korea, Europe, India and emerging markets.
Which company is valued higher relative to revenue — Cisco Systems, Inc. or Hyundai Motor Company?
On a price-to-sales (P/S) basis, Cisco Systems, Inc. trades at 6.6x P/S and Hyundai Motor Company at 0.4x P/S. Cisco Systems, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Hyundai Motor Company. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Cisco Systems, Inc. bigger than Hyundai Motor Company?
By last reported revenue, Hyundai Motor Company (~$132.2B (FY2025)) is the larger company compared to Cisco Systems, Inc. ($63.3B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Cisco vs Hyundai overview