# Cisco Systems (CSCO.US)

Canonical: https://gigainvestors.com/s/CSCO

Analysis as of: 2026-10-16T07:27:47.034Z. Financial observations: FY1997–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

A wonderful business at too high a price

Quality tests for Buy: pass (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $109.85 per share; close as of 2026-10-15.

Estimated value: low $43.14 per share, central $48.59 per share, high $55.83 per share. Buy at or below the central value $48.59 per share. Valuation as of 2026-10-16T07:27:47.034Z; scenarios are not confidence intervals.

Expected annual return: 5.9% at the stated quote. About 5.9% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 3 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 3

- Years with a net loss: 0

- Operating margin variation: 0.08×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.25×

- FY2018: 0.25×

- FY2019: 0.27×

- FY2020: 0.28×

- FY2021: 0.26×

- FY2022: 0.27×

- FY2023: 0.26×

- FY2024: 0.23×

- FY2025: 0.21×

- FY2026: 0.24×

### moat: pass

- Years with nonpositive invested capital use equity plus debt and leases; positive earnings with no positive capital are shown above 100%.

- ROIC, median of available years: 19.4%

- ROIC, second-lowest year: 11.6%

- Typical minus recent gross margin: -1.0 pp

- Typical gross margin (annual median): 63.5%

- Recent gross margin (lower of latest and 3-year median): 64.5%

- Years with nonpositive capital: 9

- Capital spending / revenue: 1.6%

- ROIC including acquisitions, ten-year median: 38.0%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2017: 9.4%

- FY2018: 11.6%

- FY2019: 19.5%

- FY2020: 20.8%

- FY2021: 19.4%

- FY2022: 22.6%

- FY2023: 23.5%

- FY2024: 13.4%

- FY2025: 14.4%

- FY2026: >100%

### economics: pass

- Owner earnings / net income, 5-yr: 1.13×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $65B

- Net income, five-year total: $58B

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: -0.1 pp

- Working capital / revenue, change between three-year averages: -0.6 pp

- Working capital / revenue, final three-year average: 19.9%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2022: 1.13×

- FY2023: 1.07×

- FY2024: 1.18×

- FY2025: 1.19×

- FY2026: 1.09×

### management: pass

- Historical market-dollar context (not the management verdict): 2017 to 2026 (9 years)

- potential debt-funded buybacks (informational)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 11.6% vs 14.4%

- Per-share earnings: 1.90 to 2.55 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: -2.4%

- Ordinary dilution, 5-year annual growth: -1.2%

- Market cap gain: $301B

- Cumulative retained earnings: -$19B

- Diluted shares, 10-year annual growth: -2.4%

- Diluted shares, 5-year annual growth: -1.2%

- $1 test, starting fiscal year: FY2017

- $1 test, ending fiscal year: FY2026

- Per-share value growth: 3.7%

- Per-share value change: $0.64

- Per-share value, starting three-year median: $1.90

- Per-share value, ending three-year median: $2.55

- Buybacks concentrated in cheaper years (correlation): 0.08

- Average buyback yield: 3.9%

- Buyback history: 10 years

- Debt-funded buybacks: Yes

- Acquisition spending: $43B

- Cumulative net income, 10 years: $101B

- ROIC, first three-year median: 11.6%

- ROIC, last three-year median: 14.4%

Chart: Earnings per share; fiscal year observations.

- FY2017: $1.90

- FY2018: $0.02

- FY2019: $2.61

- FY2020: $2.64

- FY2021: $2.50

- FY2022: $2.82

- FY2023: $3.07

- FY2024: $2.54

- FY2025: $2.55

- FY2026: $3.33

### accounting: pass

- stock compensation exceeds 15% of operating cash flow

- Sloan accruals: -0.7%

- Receivables to sales index (DSRI): 1.00×

- Restructuring years, last five: 1

- Stock compensation / operating cash flow: 27.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.07×

- Accounting red flags: 1

- Goodwill and intangibles / equity: 1.33×

Chart: Sloan accruals; fiscal year observations.

- FY2017: -3.3%

- FY2018: -12.5%

- FY2019: -4.3%

- FY2020: -4.4%

- FY2021: -5.0%

- FY2022: -1.5%

- FY2023: -7.1%

- FY2024: -0.5%

- FY2025: -3.3%

- FY2026: -0.7%

## Holders

- [Nicolai Tangen](https://gigainvestors.com/AKO): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [David Hoeft](https://gigainvestors.com/DAC): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Thomas Gayner](https://gigainvestors.com/MKL): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Andrew Adams](https://gigainvestors.com/MPF): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Richard Pzena](https://gigainvestors.com/PIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [William Browne](https://gigainvestors.com/TB): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Lee Ainslie](https://gigainvestors.com/mc): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Price needs cash profits to grow 11.7% a year for ten years · sales +11.8%

Story as of 2026-10-16T09:58:34.939Z; price observation 2026-10-15.

Price needs cash profits to grow 11.7% a year for ten years

- 2025-05-15: Cisco (CSCO) Jumps on Strong Q3 Results, Higher Guidance; AI Orders Top $600M ([finance.yahoo.com](https://finance.yahoo.com/news/cisco-csco-jumps-strong-q3-130623897.html))

- 2025-06-04: CSCO Q1 Earnings Call: AI Demand and New Partnerships Drive Strategic Shift ([finance.yahoo.com](https://finance.yahoo.com/news/csco-q1-earnings-call-ai-130905087.html))

- 2025-11-12: Cisco lifts guidance as Q1 results top estimates on AI-led networking demand ([finance.yahoo.com](https://finance.yahoo.com/news/cisco-lifts-guidance-q1-results-215141234.html))

- 2026-04-23: Cisco Cashes in on AI Order Momentum: More Upside Ahead in 2026? ([finance.yahoo.com](https://finance.yahoo.com/sectors/technology/articles/cisco-cashes-ai-order-momentum-185300068.html))

- 2026-05-14: Cisco raises full-year outlook as AI-driven demand powers Q1 beat ([finance.yahoo.com](https://finance.yahoo.com/sectors/technology/articles/cisco-raises-full-outlook-ai-145300335.html))

- 2026-08-13: Cisco Stock Tumbles 8.8% as AI Hardware Squeezes Margins ([finance.yahoo.com](https://finance.yahoo.com/technology/ai/articles/cisco-stock-tumbles-8-8-173934887.html))

### Sales · FY2025–2026

sales +11.8%; source https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm; observed 2026-09-02.

- FY2017: $48B 

- FY2018: $49B 

- FY2019: $52B 

- FY2020: $49B 

- FY2021: $50B 

- FY2022: $52B 

- FY2023: $57B 

- FY2024: $54B 

- FY2025: $57B 

- FY2026: $63B 

### Gross margin · FY2026

gross margin 64.5%; source https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm; observed 2026-09-02.

- FY2017: 63.0% 

- FY2018: 62.0% 

- FY2019: 62.9% 

- FY2020: 64.3% 

- FY2021: 64.0% 

- FY2022: 62.5% 

- FY2023: 62.7% 

- FY2024: 64.7% 

- FY2025: 64.9% 

- FY2026: 64.5% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in communication equipment; annual sales are USD 63.3 billion.

- Source: https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm (filed 2026-09-02); FY2026: revenue 63325000000; grossProfit 40860000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); CSCO.US: Cisco Systems, Inc. designs, develops, and sells technologies to power, help, secure, and draw insights from the internet in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company provides data center switching; network security, identity and access management, and secure access service edge; identity and agentic security solutions; interconnects public and private wireline and mobile networks, delivering connectivity to campus, data center, and branch networks; WEBEX suite, collaboration devices, and contact center; communication platform as a service software, including perpetual licenses, subscription arrangements, and hardware solutions; network assurance and observability suite; accelerated issue resolution, software support, and hardware replacement; professional services, such as planning, design, implementation, and high-value consulting; service and support packages, financing, and managed network services; and regional, national, and international wireline carriers, webscale products, internet, and cable. It also provides wireless products, including indoor and outdoor coverage designed for seamless roaming use of voice, video, and data applications; end-to-end collaboration solutions through cloud, on-premise, or within hybrid cloud environments. In addition, it offers technical support services. The company serves businesses, public institutions, governments, and service providers. It sells its products and services directly, through systems integrators, service providers, and resellers, and distributors. Cisco Systems, Inc. was incorporated in 1984 and is headquartered in San Jose, California.

### Why customers stay

Margins ranged from 64.5% to 64.9% during 2024–26; it earns 19.4% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2024: grossProfit / revenue = 64.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2025: grossProfit / revenue = 64.9%.

- Source: https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm (filed 2026-09-02); FY2026: grossProfit / revenue = 64.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); 10-year return on capital observations [[2017,0.09377128142695074],[2018,0.11633707995870472],[2019,0.19472611640576915],[2020,0.2082366333336019],[2021,0.1940948405135445],[2022,0.22643770077991335],[2023,0.23465571865431073],[2024,0.13444055749981215],[2025,0.14392678148416377],[2026,2.879445991033164]]; median 0.1944104784596568. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Can it raise prices

Kept about a 63% gross margin through 2022 cost inflation.

- Source: https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm (filed 2026-09-02); Gross margin observations: [[2021,0.6402103657312618],[2022,0.6254824757064996],[2023,0.6272676234253833]]; range within 2 percentage points.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 6.1 billion of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2017: growth capex 0; upkeep 964000000; owner earnings 10884000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2018: growth capex 0; upkeep 834000000; owner earnings 1467000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2019: growth capex 0; upkeep 909000000; owner earnings 12609000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2020: growth capex 0; upkeep 770000000; owner earnings 12252000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2021: growth capex 0; upkeep 692000000; owner earnings 11761000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2022: growth capex 0; upkeep 477000000; owner earnings 13292000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2023: growth capex 0; upkeep 849000000; owner earnings 13490000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2024: growth capex 0; upkeep 670000000; owner earnings 12157000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); FY2025: growth capex 0; upkeep 905000000; owner earnings 12137000000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm (filed 2026-09-02); FY2026: growth capex 0; upkeep 1410000000; owner earnings 14397000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); Dividend observations: [[2017,5511000000],[2018,5968000000],[2019,5979000000],[2020,6016000000],[2021,6163000000],[2022,6224000000],[2023,6302000000],[2024,6384000000],[2025,6437000000],[2026,6553000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm (filed 2026-09-02); FY2026: cash repurchases 6106000000 USD.

### Are managers owners

Insiders own 0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); CSCO.US SharesStats.PercentInsiders = 0.063 percentage points; cache date 2026-10-16.

### What could break it

"Our financial performance may be negatively impacted by demand for, and costs to deliver" (SEC filing, Sep 2026)

- Source: https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm (filed 2026-09-02); Our financial performance may be negatively impacted by demand for, and costs to deliver

### What the price says

The price assumes cash profits grow 11.7% yearly over ten years; actual growth was 4.6%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-02); Ten-year compound average after fade. Initial solved rate 0.15621597602733817. Price 109.85; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2016 owner earnings/share 2.293435534591195 → FY2026 3.6109857035364934. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $30.68 per share

- 2016-11: $29.82 per share

- 2016-12: $30.22 per share

- 2017-01: $30.72 per share

- 2017-02: $34.18 per share

- 2017-03: $33.80 per share

- 2017-04: $34.07 per share

- 2017-05: $31.53 per share

- 2017-06: $31.30 per share

- 2017-07: $31.45 per share

- 2017-08: $32.21 per share

- 2017-09: $33.63 per share

- 2017-10: $34.15 per share

- 2017-11: $37.30 per share

- 2017-12: $38.30 per share

- 2018-01: $41.54 per share

- 2018-02: $44.78 per share

- 2018-03: $42.89 per share

- 2018-04: $44.29 per share

- 2018-05: $42.71 per share

- 2018-06: $43.03 per share

- 2018-07: $42.29 per share

- 2018-08: $47.77 per share

- 2018-09: $48.65 per share

- 2018-10: $45.75 per share

- 2018-11: $47.87 per share

- 2018-12: $43.33 per share

- 2019-01: $47.29 per share

- 2019-02: $51.77 per share

- 2019-03: $53.99 per share

- 2019-04: $55.95 per share

- 2019-05: $52.03 per share

- 2019-06: $54.73 per share

- 2019-07: $55.40 per share

- 2019-08: $46.81 per share

- 2019-09: $49.41 per share

- 2019-10: $47.51 per share

- 2019-11: $45.31 per share

- 2019-12: $47.96 per share

- 2020-01: $45.97 per share

- 2020-02: $39.93 per share

- 2020-03: $39.31 per share

- 2020-04: $42.38 per share

- 2020-05: $47.82 per share

- 2020-06: $46.64 per share

- 2020-07: $47.10 per share

- 2020-08: $42.22 per share

- 2020-09: $39.39 per share

- 2020-10: $35.90 per share

- 2020-11: $43.02 per share

- 2020-12: $44.75 per share

- 2021-01: $44.58 per share

- 2021-02: $44.87 per share

- 2021-03: $51.71 per share

- 2021-04: $50.91 per share

- 2021-05: $52.90 per share

- 2021-06: $53.00 per share

- 2021-07: $55.37 per share

- 2021-08: $59.02 per share

- 2021-09: $54.43 per share

- 2021-10: $55.97 per share

- 2021-11: $54.84 per share

- 2021-12: $63.37 per share

- 2022-01: $55.67 per share

- 2022-02: $55.77 per share

- 2022-03: $55.76 per share

- 2022-04: $48.98 per share

- 2022-05: $45.05 per share

- 2022-06: $42.64 per share

- 2022-07: $45.37 per share

- 2022-08: $44.72 per share

- 2022-09: $40.00 per share

- 2022-10: $45.43 per share

- 2022-11: $49.72 per share

- 2022-12: $47.64 per share

- 2023-01: $48.67 per share

- 2023-02: $48.42 per share

- 2023-03: $52.28 per share

- 2023-04: $47.25 per share

- 2023-05: $49.67 per share

- 2023-06: $51.74 per share

- 2023-07: $52.04 per share

- 2023-08: $57.35 per share

- 2023-09: $53.76 per share

- 2023-10: $52.13 per share

- 2023-11: $48.38 per share

- 2023-12: $50.52 per share

- 2024-01: $50.18 per share

- 2024-02: $48.37 per share

- 2024-03: $49.91 per share

- 2024-04: $46.98 per share

- 2024-05: $46.50 per share

- 2024-06: $47.51 per share

- 2024-07: $48.45 per share

- 2024-08: $50.54 per share

- 2024-09: $53.22 per share

- 2024-10: $54.77 per share

- 2024-11: $59.21 per share

- 2024-12: $59.20 per share

- 2025-01: $60.60 per share

- 2025-02: $64.11 per share

- 2025-03: $61.71 per share

- 2025-04: $57.73 per share

- 2025-05: $63.04 per share

- 2025-06: $69.38 per share

- 2025-07: $68.08 per share

- 2025-08: $69.09 per share

- 2025-09: $68.42 per share

- 2025-10: $73.11 per share

- 2025-11: $76.94 per share

- 2025-12: $77.03 per share

- 2026-01: $78.32 per share

- 2026-02: $79.46 per share

- 2026-03: $77.59 per share

- 2026-04: $91.50 per share

- 2026-05: $120.42 per share

- 2026-06: $117.46 per share

- 2026-07: $115.99 per share

- 2026-08: $110.49 per share

- 2026-09: $107.63 per share

- 2026-10: $115.07 per share

## Annual estimated value (USD per share)

- FY2017: low $41.62 per share, central $49.87 per share, high $56.00 per share

- FY2018: low $34.29 per share, central $39.08 per share, high $44.01 per share

- FY2019: low $41.80 per share, central $52.57 per share, high $60.30 per share

- FY2020: low $40.61 per share, central $48.71 per share, high $55.76 per share

- FY2021: low $40.09 per share, central $48.64 per share, high $55.88 per share

- FY2022: low $38.42 per share, central $43.18 per share, high $49.53 per share

- FY2023: low $45.66 per share, central $52.55 per share, high $60.21 per share

- FY2024: low $38.40 per share, central $43.12 per share, high $49.41 per share

- FY2025: low $40.31 per share, central $45.35 per share, high $52.07 per share

- FY2026: low $43.14 per share, central $48.59 per share, high $55.83 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm); period 2026-07-25, filed 2026-09-02.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Nicolai Tangen](https://gigainvestors.com/AKO): 1,971,628 CSCO shares; USD 231,587,000 reported position value; 5.4% of portfolio; reduce; quarter 2026 Q2.
- [David Hoeft](https://gigainvestors.com/DAC): 88,409 CSCO shares; USD 10,385,000 reported position value; 0.01% of portfolio; reduce; quarter 2026 Q2.
- [Thomas Gayner](https://gigainvestors.com/MKL): 355,500 CSCO shares; USD 41,757,000 reported position value; 0.32% of portfolio; hold; quarter 2026 Q2.
- [Andrew Adams](https://gigainvestors.com/MPF): 19,731 CSCO shares; USD 2,318,000 reported position value; 0.02% of portfolio; reduce; quarter 2026 Q2.
- [Richard Pzena](https://gigainvestors.com/PIM): 1,281,329 CSCO shares; USD 150,505,000 reported position value; 0.44% of portfolio; reduce; quarter 2026 Q2.
- [William Browne](https://gigainvestors.com/TB): 29,397 CSCO shares; USD 3,453,000 reported position value; 0.26% of portfolio; reduce; quarter 2026 Q2.
- [Lee Ainslie](https://gigainvestors.com/mc): 11,722 CSCO shares; USD 1,377,000 reported position value; 0.01% of portfolio; new; quarter 2026 Q2.

# CSCO — Cisco Systems

Held by 7 investors · USD 441,382,000 total · 2026 Q2 · reported price USD 117.46 (split-adjusted).
Page: https://gigainvestors.com/s/CSCO

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Nicolai Tangen (https://gigainvestors.com/AKO) | USD 231,587,000 | 5.4% | reduce -35.22% |
| Richard Pzena (https://gigainvestors.com/PIM) | USD 150,505,000 | 0.4% | reduce -2.09% |
| Thomas Gayner (https://gigainvestors.com/MKL) | USD 41,757,000 | 0.3% | hold |
| Donald Yacktman (https://gigainvestors.com/YAM) | USD 16,338,902 | 0.0% | sold |
| David Hoeft (https://gigainvestors.com/DAC) | USD 10,385,000 | <0.1% | reduce -15.9% |
| William Browne (https://gigainvestors.com/TB) | USD 3,453,000 | 0.3% | reduce -46.74% |
| Andrew Adams (https://gigainvestors.com/MPF) | USD 2,318,000 | <0.1% | reduce -0.48% |
| Lee Ainslie (https://gigainvestors.com/mc) | USD 1,377,000 | <0.1% | new |

## Total held by quarter

- 2006 Q4: USD 4,646,100 · 1 holder · USD 27.33
- 2007 Q1: USD 5,361,300 · 1 holder · USD 25.53
- 2007 Q2: USD 8,243,600 · 1 holder · USD 27.85
- 2007 Q3: USD 5,141,983 · 1 holder · USD 33.11
- 2007 Q4: USD 3,933,271 · 1 holder · USD 27.07
- 2008 Q1: USD 4,182,024 · 1 holder · USD 24.09
- 2008 Q2: USD 4,023,980 · 1 holder · USD 23.26
- 2008 Q3: USD 3,925,440 · 1 holder · USD 22.56
- 2008 Q4: USD 2,901,400 · 1 holder · USD 16.30
- 2009 Q1: USD 2,632,890 · 1 holder · USD 16.77
- 2009 Q2: USD 2,592,350 · 1 holder · USD 18.65
- 2009 Q3: USD 3,177,900 · 1 holder · USD 23.54
- 2009 Q4: USD 3,184,020 · 1 holder · USD 23.94
- 2010 Q1: USD 3,409,930 · 1 holder · USD 26.03
- 2010 Q2: USD 2,727,680 · 1 holder · USD 21.31
- 2010 Q3: USD 2,693,700 · 1 holder · USD 21.90
- 2010 Q4: USD 3,074,960 · 1 holder · USD 20.23
- 2011 Q1: USD 3,052,700 · 1 holder · USD 17.15
- 2011 Q2: USD 577,333,540 · 2 holders · USD 16.80
- 2011 Q3: USD 2,648,790 · 1 holder · USD 15.49
- 2011 Q4: USD 2,531,200 · 1 holder · USD 18.08
- 2012 Q1: USD 2,855,250 · 1 holder · USD 21.15
- 2012 Q2: USD 2,386,630 · 1 holder · USD 17.17
- 2012 Q3: USD 2,005,500 · 1 holder · USD 19.10
- 2012 Q4: USD 1,807,800 · 1 holder · USD 19.65
- 2013 Q1: USD 1,921,880 · 1 holder · USD 20.89
- 2013 Q2: USD 2,360,010 · 1 holder · USD 24.33
- 2013 Q3: USD 2,495,295 · 1 holder · USD 23.43
- 2013 Q4: USD 2,534,590 · 1 holder · USD 22.43
- 2014 Q1: USD 3,124,414 · 2 holders · USD 22.43
- 2014 Q2: USD 3,186,230 · 2 holders · USD 24.87
- 2014 Q3: USD 3,090,876 · 2 holders · USD 25.17
- 2014 Q4: USD 3,199,530 · 2 holders · USD 27.83
- 2015 Q1: USD 3,109,845 · 3 holders · USD 27.52
- 2015 Q2: USD 2,471,215 · 2 holders · USD 27.47
- 2015 Q3: USD 2,429,724 · 2 holders · USD 26.28
- 2015 Q4: USD 2,513,276 · 2 holders · USD 27.16
- 2016 Q1: USD 4,406,550 · 3 holders · USD 28.48
- 2016 Q2: USD 8,201,464 · 3 holders · USD 28.69
- 2016 Q3: USD 11,185,665 · 3 holders · USD 31.72
- 2016 Q4: USD 12,023,766 · 3 holders · USD 30.22
- 2017 Q1: USD 14,498,842 · 3 holders · USD 33.80
- 2017 Q2: USD 14,489,632 · 3 holders · USD 31.30
- 2017 Q3: USD 13,721,700 · 2 holders · USD 33.64
- 2017 Q4: USD 15,419,580 · 2 holders · USD 38.30
- 2018 Q1: USD 16,920,630 · 2 holders · USD 42.90
- 2018 Q2: USD 16,975,335 · 2 holders · USD 43.03
- 2018 Q3: USD 44,761,146 · 3 holders · USD 48.65
- 2018 Q4: USD 307,458,148 · 4 holders · USD 43.33
- 2019 Q1: USD 293,130,152 · 4 holders · USD 53.99
- 2019 Q2: USD 296,685,003 · 5 holders · USD 54.73
- 2019 Q3: USD 259,812,352 · 4 holders · USD 49.41
- 2019 Q4: USD 254,962,253 · 5 holders · USD 47.96
- 2020 Q1: USD 244,829,207 · 5 holders · USD 39.31
- 2020 Q2: USD 198,445,691 · 4 holders · USD 46.64
- 2020 Q3: USD 145,641,166 · 4 holders · USD 39.39
- 2020 Q4: USD 164,474,081 · 4 holders · USD 44.75
- 2021 Q1: USD 192,653,982 · 4 holders · USD 51.71
- 2021 Q2: USD 194,066,857 · 4 holders · USD 53.00
- 2021 Q3: USD 168,994,806 · 4 holders · USD 54.43
- 2021 Q4: USD 185,213,906 · 4 holders · USD 63.37
- 2022 Q1: USD 133,251,419 · 4 holders · USD 55.76
- 2022 Q2: USD 106,468,054 · 5 holders · USD 42.64
- 2022 Q3: USD 101,850,034 · 5 holders · USD 40.00
- 2022 Q4: USD 119,616,493 · 5 holders · USD 47.64
- 2023 Q1: USD 176,988,688 · 6 holders · USD 52.27
- 2023 Q2: USD 194,171,068 · 6 holders · USD 51.74
- 2023 Q3: USD 182,821,658 · 7 holders · USD 53.76
- 2023 Q4: USD 114,263,556 · 4 holders · USD 50.52
- 2024 Q1: USD 1,367,977,518 · 8 holders · USD 49.91
- 2024 Q2: USD 1,302,117,395 · 8 holders · USD 47.51
- 2024 Q3: USD 1,511,510,384 · 7 holders · USD 53.22
- 2024 Q4: USD 1,642,277,805 · 7 holders · USD 59.20
- 2025 Q1: USD 1,572,195,818 · 8 holders · USD 61.71
- 2025 Q2: USD 221,742,497 · 7 holders · USD 69.38
- 2025 Q3: USD 183,996,360 · 7 holders · USD 68.42
- 2025 Q4: USD 428,130,813 · 8 holders · USD 77.03
- 2026 Q1: USD 395,600,132 · 7 holders · USD 77.59
- 2026 Q2: USD 441,382,000 · 7 holders · USD 117.46