In the most recent quarter, Q3'26, Cisco's ROA reached 2.69%, marking a modest increase from 2.57% in Q2'26 and continuing an upward trajectory from the low of 1.53% in Q3'24. ROE stood at 6.90%, up from 6.65% in the prior quarter, while ROIC dipped slightly to 3.38% from 4.56%, reflecting some variability in capital efficiency. Over the period from Q4'23 to Q3'26, all three metrics—ROE, ROA, and ROIC—exhibited a clear declining trend through Q3'24, with ROE dropping from 8.92% to 4.12%, ROA from 3.89% to 1.53%, and ROIC from 7.71% to 2.88%, likely indicating compressed margins or higher asset bases. From Q4'24 onward, ROE and ROA showed steady recovery, with ROA climbing to 2.69% and ROE to 6.90% by Q3'26, though ROIC remained more volatile, stabilizing around 3-4% after an initial rebound, suggesting improving operational returns amid ongoing challenges.