Cisco Systems (CSCO) FY2012 results: revenue $46.1 billion, up 6.6% on the year
Cisco Systems, Inc. (CSCO) reported revenue of $46.1 billion for fiscal 2012, the year ended 28 July 2012, up 6.6% on the year before. Net income was $8.0 billion, up 23.9%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 12 September 2012.
Revenue
$46.1 billion
+6.6% on the year
FY2008FY2012
Operating margin
21.9%
17.8% a year earlier
FY2008FY2012
Net income
$8.0 billion
+23.9% on the year
FY2008FY2012
Diluted EPS
$1.49
+27.4% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
46,061
43,218
40,040
+6.6%
Cost of revenue
17,852
16,682
14,397
+7.0%
Gross profit
28,209
26,536
25,643
+6.3%
Gross margin
61.2%
61.4%
64.0%
Research and development
5,488
5,823
n/a
-5.8%
Operating income
10,065
7,674
9,164
+31.2%
Operating margin
21.9%
17.8%
22.9%
Interest expense
596
628
623
-5.1%
Pre-tax income
10,159
7,825
n/a
+29.8%
Income tax
2,118
1,335
1,648
+58.7%
Effective tax rate
20.8%
17.1%
n/a
Net income
8,041
6,490
7,767
+23.9%
Net margin
17.5%
15.0%
19.4%
Diluted EPS
$1.49
$1.17
$1.33
+27.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
11,491
10,079
10,173
+14.0%
Capital expenditure
1,126
1,174
1,008
-4.1%
Free cash flow
10,365
8,905
9,165
+16.4%
Free cash flow margin
22.5%
20.6%
22.9%
Cash from investing
-3,815
-2,934
-11,931
Cash from financing
-5,539
-4,064
621
Depreciation and amortisation
1,100
n/a
n/a
Share-based compensation
1,401
1,620
1,517
-13.5%
Buybacks
4,560
6,713
7,864
-32.1%
Dividends paid
1,501
658
n/a
+128.1%
Dividend per share
$0.28
$0.12
n/a
+133.3%
Diluted shares, weighted
5,404m
5,563m
5,848m
-2.9%
Shares outstanding at period end
5,298m
5,435m
5,655m
-2.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
51,286
47,226
44,267
+8.6%
Non-controlling interest
15.0
33.0
18.0
-54.5%
Short-term borrowings
31.0
n/a
n/a
Debt
16,300
16,822
15,225
-3.1%
Other liabilities
24,127
23,014
21,620
+4.8%
Total liabilities and equity
91,759
87,095
81,130
+5.4%
Fixed assets
3,402
3,916
3,941
-13.1%
Goodwill
16,998
16,818
16,674
+1.1%
Intangible assets
1,959
2,541
3,274
-22.9%
Investments
38,917
36,923
35,280
+5.4%
Loans
n/a
n/a
4,917
Cash and equivalents
9,799
7,662
4,581
+27.9%
Receivables
4,369
4,698
4,929
-7.0%
Inventory
1,663
1,486
1,327
+11.9%
Other assets
14,652
13,051
6,207
+12.3%
Total assets
91,759
87,095
81,130
+5.4%
10-K for the year ended 28 July 2012, filed 12 September 2012: the filing.