CLAIM #17843 · Cisco Systems Inc (CSCO) · 2025Q4 earnings call · Aug 13, 2025

“Our Q1 and fiscal year 2026 guide assumes current tariffs and exemptions remain in place through the end of fiscal 2026.”

Mark Patterson · CFO

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In context

“summarize, we had a solid fiscal quarter and year with top and bottom line performance, beating and exceeding our expectations, driven by strong order growth and margins. For the full fiscal 2025, we delivered record non-GAAP operating income and margin, demonstrating our ability to provide operating leverage while driving strong top line growth. We remain focused on making strategic investments in innovation to capitalize on the significant growth opportunities we see ahead. This will continue to be underpinned by disciplined spend management. And it's this powerful combination that continues to fuel strong cash flow and our ability to return significant value to our shareholders. Turning to guidance. While we have some clarity on tariffs, we are still operating in a complex environment. Our Q1 and fiscal year 2026 guide assumes current tariffs and exemptions remain in place through the end of fiscal 2026. These include the following: China at 30%, partially offset by an exemption for semiconductors and certain electronic components. Mexico at 25% and Canada at 35% for the components and products that are not eligible for the current USMCA exemptions. Other countries reverted to country-specific reciprocal rates, but largely offset by an exemption for semiconductors and certain electronic components. And finally, a small impact from tariffs on copper, steel and aluminum and retaliatory tariffs. We will continue to leverage our world- class supply chain team to help mitigate the impact of tariffs where appropriate. Through the flexibility and agility we have built into our operations over the last few years, the size and scale of our supply chain provides us with some unique advantages as we”

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SEC filings for CSCO ↗ · Quote is verbatim from the 2025Q4 earnings call.