NASDAQ : CSCO
Cisco Systems, Inc. — Financial statements
Technology · Communication Equipment · United States
Last price 108.59 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 428.13B
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Financial statements
Cisco Systems, Inc. (CSCO) reported revenue of 63.33B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 63.33B | 63.33B | 56.65B | 53.80B | 57.00B | 51.56B |
| Cost of Revenue | 22.46B | 22.46B | 19.86B | 18.83B | 21.25B | 19.31B |
| Gross Profit | 40.86B | 40.86B | 36.79B | 34.97B | 35.75B | 32.25B |
| Selling, General & Admin | 14.30B | 14.30B | 13.95B | 13.07B | 12.33B | 11.14B |
| Research & Development | 9.56B | 9.56B | 9.30B | 7.98B | 7.55B | 6.77B |
| Amortization of Goodwill & Intangibles | 916.00M | 916.00M | 1.03B | 698.00M | 282.00M | 313.00M |
| Operating Expenses | 24.78B | 24.78B | 24.27B | 21.75B | 20.16B | 18.22B |
| Operating Income | 16.08B | 16.08B | 12.52B | 13.22B | 15.59B | 14.02B |
| Interest Expense | -1.47B | -1.47B | -1.59B | -1.01B | -427.00M | -360.00M |
| Interest & Investment Income | 866.00M | 866.00M | 1.00B | 1.36B | 962.00M | 476.00M |
| Currency Exchange Gain (Loss) | -81.00M | -81.00M | 102.00M | -162.00M | 1.00M | -237.00M |
| Other Non Operating Income (Expenses) | -67.00M | -67.00M | -252.00M | 20.00M | -85.00M | 163.00M |
| EBT Excluding Unusual Items | 15.33B | 15.33B | 11.77B | 13.44B | 16.04B | 14.07B |
| Merger & Restructuring Charges | -711.00M | -711.00M | -756.00M | -893.00M | -557.00M | -55.00M |
| Gain (Loss) on Sale of Investments | 1.39B | 1.39B | 82.00M | -164.00M | -164.00M | 466.00M |
| Asset Writedown | -145.00M | |||||
| Pretax Income | 16.01B | 16.01B | 11.10B | 12.23B | 15.32B | 14.48B |
| Income Tax Expense | 2.74B | 2.74B | 920.00M | 1.91B | 2.71B | 2.67B |
| Net Income | 13.27B | 13.27B | 10.18B | 10.32B | 12.61B | 11.81B |
| Net Income to Common | 13.27B | 13.27B | 10.18B | 10.32B | 12.61B | 11.81B |
| Shares Outstanding (Basic) | 3.95B | 3.95B | 3.98B | 4.04B | 4.09B | 4.17B |
| Shares Outstanding (Diluted) | 3.99B | 3.99B | 4.00B | 4.06B | 4.11B | 4.19B |
| EPS (Basic) | 3.36 | 3.36 | 2.56 | 2.55 | 3.08 | 2.83 |
| EPS (Diluted) | 3.33 | 3.33 | 2.55 | 2.54 | 3.07 | 2.82 |
| Free Cash Flow | 12.77B | 12.77B | 13.29B | 10.21B | 19.04B | 12.75B |
| Free Cash Flow Per Share | 3.20 | 3.20 | 3.32 | 2.51 | 4.64 | 3.04 |
| Dividend Per Share | 1.66 | 1.66 | 1.62 | 1.58 | 1.54 | 1.50 |
| Gross Margin | 64.52% | 64.52% | 64.94% | 65.00% | 62.73% | 62.55% |
| Operating Margin | 25.39% | 25.39% | 22.09% | 24.57% | 27.35% | 27.20% |
| Profit Margin | 20.95% | 20.95% | 17.97% | 19.18% | 22.13% | 22.91% |
| Free Cash Flow Margin | 20.16% | 20.16% | 23.46% | 18.98% | 33.40% | 24.73% |
| EBITDA | 18.64B | 18.64B | 15.42B | 15.43B | 17.22B | 15.90B |
| EBITDA Margin | 29.44% | 29.44% | 27.21% | 28.67% | 30.21% | 30.84% |
| D&A For EBITDA | 2.56B | 2.56B | 2.90B | 2.21B | 1.63B | 1.88B |
| EBIT | 16.08B | 16.08B | 12.52B | 13.22B | 15.59B | 14.02B |
| EBIT Margin | 25.39% | 25.39% | 22.09% | 24.57% | 27.35% | 27.20% |
| Effective Tax Rate | 17.13% | 17.13% | 8.29% | 15.65% | 17.66% | 18.41% |
| Revenue as Reported | 63.33B | 63.33B | 56.65B | 53.80B | 57.00B | 51.56B |
| Advertising Expenses | 119.00M | 119.00M | 186.00M | 210.00M | 205.00M | 219.00M |
Balance sheet
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 7.22B | 7.22B | 8.35B | 7.51B | 10.12B | 7.08B |
| Short-Term Investments | 8.70B | 8.70B | 8.33B | 11.10B | 16.21B | 12.19B |
| Cash & Short-Term Investments | 15.92B | 15.92B | 16.67B | 18.60B | 26.33B | 19.27B |
| Accounts Receivable | 12.76B | 12.76B | 11.46B | 11.42B | 9.21B | 10.53B |
| Receivables | 12.76B | 12.76B | 11.46B | 11.42B | 9.21B | 10.53B |
| Inventory | 5.69B | 5.69B | 3.16B | 3.37B | 3.64B | 2.57B |
| Restricted Cash | 9.00M | 9.00M | 564.00M | 765.00M | 191.00M | |
| Other Current Assets | 4.28B | 4.28B | 3.12B | 2.70B | 3.97B | 4.36B |
| Total Current Assets | 38.66B | 38.66B | 34.99B | 36.86B | 43.35B | 36.72B |
| Property, Plant & Equipment | 4.16B | 4.16B | 3.41B | 3.16B | 3.06B | 3.00B |
| Long-Term Investments | 3.30B | 3.30B | 1.92B | 2.36B | 3.11B | 3.40B |
| Goodwill | 59.48B | 59.48B | 59.14B | 58.66B | 38.53B | 38.30B |
| Other Intangible Assets | 7.56B | 7.56B | 9.18B | 11.22B | 1.82B | 2.57B |
| Long-Term Accounts Receivable | 6.51B | 6.51B | 5.07B | 4.68B | 3.48B | 4.01B |
| Long-Term Deferred Tax Assets | 7.11B | 7.11B | 7.36B | 6.26B | 6.58B | 4.45B |
| Other Long-Term Assets | 2.87B | 2.87B | 1.24B | 1.22B | 1.92B | 1.55B |
| Total Assets | 129.64B | 129.64B | 122.29B | 124.41B | 101.85B | 94.00B |
| Accounts Payable | 3.66B | 3.66B | 2.73B | 2.80B | 2.84B | 2.59B |
| Accrued Expenses | 4.06B | 4.06B | 3.61B | 3.61B | 3.98B | 3.32B |
| Short-Term Debt | 6.66B | 6.66B | 3.48B | 10.85B | 600.00M | |
| Current Portion of Long-Term Debt | 3.50B | 3.50B | 1.75B | 499.00M | 1.75B | 499.00M |
| Current Portion of Leases | 404.00M | 404.00M | 375.00M | 364.00M | 313.00M | 322.00M |
| Current Income Taxes Payable | 190.00M | 190.00M | 1.86B | 1.44B | 4.24B | 961.00M |
| Current Unearned Revenue | 16.99B | 16.99B | 16.42B | 16.25B | 13.91B | 12.78B |
| Other Current Liabilities | 6.07B | 6.07B | 4.84B | 4.77B | 4.28B | 4.56B |
| Total Current Liabilities | 41.52B | 41.52B | 35.06B | 40.58B | 31.31B | 25.64B |
| Long-Term Debt | 19.37B | 19.37B | 22.86B | 19.62B | 6.68B | 8.43B |
| Long-Term Leases | 1.25B | 1.25B | 1.18B | 906.00M | 707.00M | 724.00M |
| Long-Term Unearned Revenue | 12.79B | 12.79B | 12.36B | 12.23B | 11.64B | 10.48B |
| Long-Term Deferred Tax Liabilities | 85.00M | 85.00M | 75.00M | 76.00M | 62.00M | 55.00M |
| Other Long-Term Liabilities | 4.33B | 4.33B | 3.91B | 5.54B | 7.10B | 8.90B |
| Total Liabilities | 79.35B | 79.35B | 75.45B | 78.96B | 57.50B | 54.23B |
| Common Stock | 49.68B | 49.68B | 47.75B | 45.80B | 44.29B | 42.71B |
| Retained Earnings | 1.56B | 1.56B | 50.00M | 1.09B | 1.64B | -1.32B |
| Comprehensive Income & Other | -956.00M | -956.00M | -954.00M | -1.43B | -1.57B | -1.62B |
| Total Common Equity | 50.28B | 50.28B | 46.84B | 45.46B | 44.35B | 39.77B |
| Shareholders' Equity | 50.28B | 50.28B | 46.84B | 45.46B | 44.35B | 39.77B |
| Total Liabilities & Equity | 129.64B | 129.64B | 122.29B | 124.41B | 101.85B | 94.00B |
| Total Debt | 31.18B | 31.18B | 29.64B | 32.24B | 9.45B | 10.57B |
| Net Cash (Debt) | -15.27B | -15.27B | -12.97B | -13.64B | 16.88B | 8.70B |
| Net Cash Per Share | -3.83 | -3.83 | -3.24 | -3.36 | 4.11 | 2.07 |
| Filing Date Shares Outstanding | 3.94B | 3.94B | 3.95B | 3.99B | 4.05B | 4.11B |
| Total Common Shares Outstanding | 3.95B | 3.95B | 3.96B | 4.01B | 4.07B | 4.11B |
| Working Capital | -2.86B | -2.86B | -78.00M | -3.72B | 12.04B | 11.08B |
| Book Value Per Share | 12.74 | 12.74 | 11.83 | 11.34 | 10.91 | 9.68 |
| Tangible Book Value | -16.75B | -16.75B | -21.47B | -24.42B | 4.00B | -1.10B |
| Tangible Book Value Per Share | -4.24 | -4.24 | -5.42 | -6.09 | 0.98 | -0.27 |
| Land | 4.09B | 4.09B | 4.04B | 4.25B | 4.23B | 4.22B |
| Machinery | 5.73B | 5.73B | 5.49B | 5.51B | 5.69B | 5.76B |
Cash flow statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 13.27B | 13.27B | 10.18B | 10.32B | 12.61B | 11.81B |
| Depreciation & Amortization | 2.56B | 2.56B | 2.90B | 2.21B | 1.63B | 1.88B |
| Loss (Gain) From Sale of Assets | 35.00M | 35.00M | 44.00M | 49.00M | 29.00M | 4.00M |
| Asset Writedown & Restructuring Costs | 145.00M | |||||
| Loss (Gain) From Sale of Investments | -1.39B | -1.39B | -82.00M | 166.00M | 177.00M | -457.00M |
| Stock-Based Compensation | 3.83B | 3.83B | 3.64B | 3.07B | 2.35B | 1.89B |
| Provision & Write-off of Bad Debts | 23.00M | 23.00M | 24.00M | 34.00M | 31.00M | 55.00M |
| Other Operating Activities | 203.00M | 203.00M | -1.22B | -818.00M | -1.99B | -229.00M |
| Change in Accounts Receivable | -832.00M | -832.00M | -22.00M | -289.00M | 734.00M | -1.01B |
| Change in Inventory | -2.54B | -2.54B | 209.00M | 275.00M | -1.07B | -1.03B |
| Change in Accounts Payable | 842.00M | 842.00M | 257.00M | -90.00M | 27.00M | -55.00M |
| Change in Unearned Revenue | 1.12B | 1.12B | 248.00M | 1.22B | 2.33B | 1.33B |
| Change in Income Taxes | -2.30B | -2.30B | -1.84B | -4.54B | 1.22B | -690.00M |
| Change in Other Net Operating Assets | -641.00M | -641.00M | -145.00M | -875.00M | 1.81B | -266.00M |
| Operating Cash Flow | 14.18B | 14.18B | 14.19B | 10.88B | 19.89B | 13.23B |
| Capital Expenditures | -1.41B | -1.41B | -905.00M | -670.00M | -849.00M | -477.00M |
| Cash Acquisitions | -516.00M | -516.00M | -291.00M | -25.99B | -301.00M | -373.00M |
| Investment in Securities | -1.53B | -1.53B | 2.92B | 6.19B | -3.93B | 2.33B |
| Other Investing Activities | -26.00M | -26.00M | 9.00M | -5.00M | -23.00M | 76.00M |
| Investing Cash Flow | -3.48B | -3.48B | 1.73B | -20.48B | -5.11B | 1.55B |
| Short-Term Debt Issued | 616.00M | 616.00M | 478.00M | 606.00M | ||
| Long-Term Debt Issued | 13.05B | 13.05B | 19.29B | 31.82B | 1.05B | |
| Total Debt Issued | 13.66B | 13.66B | 19.29B | 32.30B | 1.66B | |
| Short-Term Debt Repaid | -31.00M | -602.00M | ||||
| Long-Term Debt Repaid | -12.25B | -12.25B | -22.07B | -12.97B | -500.00M | -3.55B |
| Total Debt Repaid | -12.25B | -12.25B | -22.10B | -12.97B | -1.10B | -3.55B |
| Net Debt Issued (Repaid) | 1.41B | 1.41B | -2.81B | 19.33B | -1.10B | -1.90B |
| Issuance of Common Stock | 805.00M | 805.00M | 736.00M | 714.00M | 700.00M | 660.00M |
| Repurchase of Common Stock | -7.98B | -7.98B | -7.22B | -6.78B | -4.89B | -8.38B |
| Common Dividends Paid | -6.55B | -6.55B | -6.44B | -6.38B | -6.30B | -6.22B |
| Other Financing Activities | -33.00M | -33.00M | -80.00M | -37.00M | -32.00M | -122.00M |
| Financing Cash Flow | -12.35B | -12.35B | -15.81B | 6.84B | -11.63B | -15.96B |
| Foreign Exchange Rate Adjustments | -29.00M | -29.00M | -43.00M | -31.00M | -105.00M | -180.00M |
| Net Cash Flow | -1.68B | -1.68B | 68.00M | -2.79B | 3.05B | -1.36B |
| Free Cash Flow | 12.77B | 12.77B | 13.29B | 10.21B | 19.04B | 12.75B |
| Free Cash Flow Margin | 20.16% | 20.16% | 23.46% | 18.98% | 33.40% | 24.73% |
| Free Cash Flow Per Share | 3.20 | 3.20 | 3.32 | 2.51 | 4.64 | 3.04 |
| Levered Free Cash Flow | 11.18B | 11.18B | 13.00B | 10.62B | 18.07B | 9.77B |
| Unlevered Free Cash Flow | 12.10B | 12.10B | 13.99B | 11.25B | 18.34B | 9.99B |
| Cash Interest Paid | 1.40B | 1.40B | 1.50B | 600.00M | 376.00M | 355.00M |
| Cash Income Tax Paid | 4.82B | 4.82B | 3.90B | 7.40B | 3.57B | 3.66B |
| Change in Working Capital | -4.35B | -4.35B | -1.29B | -4.30B | 5.04B | -1.72B |
Ratios
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 403.50B | 449.99B | 272.01B | 192.90B | 212.27B | 187.88B |
| Enterprise Value | 418.77B | 466.35B | 286.37B | 206.59B | 198.47B | 178.26B |
| Last Close Price | 104.51 | 113.73 | 67.04 | 45.48 | 47.94 | 40.43 |
| PE Ratio | 30.78 | 33.92 | 26.72 | 18.69 | 16.83 | 15.90 |
| Forward PE | 19.89 | 24.34 | 17.44 | 13.89 | 12.90 | 13.27 |
| PS Ratio | 6.40 | 7.11 | 4.80 | 3.58 | 3.72 | 3.64 |
| PB Ratio | 8.20 | 8.95 | 5.81 | 4.24 | 4.79 | 4.72 |
| P/TBV Ratio | 53.07 | |||||
| P/FCF Ratio | 31.73 | 35.25 | 20.47 | 18.89 | 11.15 | 14.74 |
| P/OCF Ratio | 28.57 | 31.74 | 19.16 | 17.73 | 10.67 | 14.21 |
| PEG Ratio | 2.02 | 1.79 | 3.27 | 4.01 | 2.38 | 2.44 |
| EV/Sales Ratio | 6.64 | 7.36 | 5.05 | 3.84 | 3.48 | 3.46 |
| EV/EBITDA Ratio | 22.55 | 25.02 | 18.57 | 13.39 | 11.53 | 11.21 |
| EV/EBIT Ratio | 26.14 | 29.00 | 22.88 | 15.63 | 12.73 | 12.71 |
| EV/FCF Ratio | 32.92 | 36.53 | 21.55 | 20.23 | 10.43 | 13.98 |
| Debt / Equity Ratio | 0.62 | 0.62 | 0.63 | 0.71 | 0.21 | 0.27 |
| Debt / EBITDA Ratio | 1.59 | 1.59 | 1.83 | 2.00 | 0.53 | 0.64 |
| Debt / FCF Ratio | 2.44 | 2.44 | 2.23 | 3.16 | 0.50 | 0.83 |
| Net Debt / Equity Ratio | 0.30 | 0.30 | 0.28 | 0.30 | -0.38 | -0.22 |
| Net Debt / EBITDA Ratio | 0.82 | 0.82 | 0.84 | 0.88 | -0.98 | -0.55 |
| Net Debt / FCF Ratio | 1.20 | 1.20 | 0.98 | 1.34 | -0.89 | -0.68 |
| Asset Turnover | 0.50 | 0.50 | 0.46 | 0.48 | 0.58 | 0.54 |
| Inventory Turnover | 5.07 | 5.07 | 6.08 | 5.37 | 6.84 | 9.36 |
| Quick Ratio | 0.69 | 0.69 | 0.80 | 0.74 | 1.14 | 1.16 |
| Current Ratio | 0.93 | 0.93 | 1.00 | 0.91 | 1.39 | 1.43 |
| Return on Equity (ROE) | 27.32% | 27.32% | 22.06% | 22.98% | 29.99% | 29.15% |
| Return on Assets (ROA) | 7.98% | 7.98% | 6.34% | 7.30% | 9.95% | 9.15% |
| Return on Invested Capital (ROIC) | 20.38% | 21.26% | 19.31% | 25.76% | 43.84% | 37.81% |
| Return on Capital Employed (ROCE) | 18.20% | 18.20% | 14.30% | 15.80% | 22.10% | 20.50% |
| Earnings Yield | 3.25% | 2.95% | 3.74% | 5.35% | 5.94% | 6.29% |
| FCF Yield | 3.15% | 2.84% | 4.88% | 5.29% | 8.97% | 6.79% |
| Dividend Yield | 1.64% | 1.46% | 2.36% | 3.28% | 2.95% | 3.28% |
| Payout Ratio | 50.45% | 49.39% | 63.23% | 61.86% | 49.96% | 52.69% |
| Buyback Yield / Dilution | 0.27% | 0.27% | 1.58% | 1.05% | 2.08% | 1.04% |
| Total Shareholder Return | 1.91% | 1.73% | 3.93% | 4.33% | 5.03% | 4.32% |