Cisco Systems (CSCO) Financials

Here is a concise, data-driven snapshot of Cisco Systems (CSCO) based on quarterly cash flow statements, income statements, and balance sheets from the last four years. The bullets highlight the key trends and how they may impact investors.

• Operating cash flow has remained positive in every quarter, underscoring solid core profitability. For example, cash from continuing operating activities recently ranged around $3.2B (Q1 2026) and about $2.8–3.0B in prior quarters, supporting healthy free cash flow.
• Free cash flow has been ample, frequently covering meaningful dividends and share repurchases. Examples include quarterly free cash flow roughly in the $1.5B–$2.9B range, with recent quarters showing about $2.9B (Q1 2026) and $1.5–2.5B in others.
• Dividend policy provides steady shareholder returns. Cisco has been paying a quarterly dividend of $0.41 per share, contributing to an attractive income stream for investors.
• Liquidity remains strong, providing a cushion against market volatility. Cash plus short-term investments have typically totaled about $15B–$16B in recent periods (e.g., ~7.5B in cash and ~8.3B in short-term investments).
• Revenue and gross margins show durability. Operating revenue has hovered in the mid-teens of billions with gross margins in the mid-60s%, indicating ongoing profitability resilience even as the mix evolves.
• Debt levels are sizable but manageable. Long-term debt has been in the low-to-mid $20B range, with a solid balance sheet supporting continued capital allocation.
• Capital allocation includes buybacks and selective acquisitions. The company has engaged in share repurchases and occasional acquisitions, reflecting active capital deployment that can influence cash flows.
• Quarterly cash flow results can vary due to timing of investing and financing activities. Investing and financing cycles cause fluctuations in net cash from investing/financing activities across quarters.
• Financing activities often weigh on cash due to dividends and buybacks. Periods with sizable payouts and buybacks have produced negative net cash from financing activities, reducing cash in hand.
• Occasional negative net change in cash signals near-term liquidity pressures from timing mismatches. For some quarters, the net change in cash and equivalents was negative despite positive operating cash flow, reflecting capex timing and financing actions.