What kind of cable?
If it is steel wire rope the method I would recommend is to put pvc tape over the point to be cut and then cut with proper wire rope cutters, the type with opposing parrots beak type jaws as the tend to keep the wire in shape as they cut. Do not use bolt cutters or cold chisels as they will always distort the wire.
Also do not drill out ferrules as this will have an impact on the grip achieved.
An alternative depending on what you are trying to achieve would be to use a Staylock type reusable fitting as the distortion cutting the wire will have less of an impact. These tend to be designed for flexible steel wire rope rather than extra flexible steel wire rope.
Peter