Cisco Systems (CSCO) FY2013 results: revenue $48.6 billion, up 5.5% on the year
Cisco Systems, Inc. (CSCO) reported revenue of $48.6 billion for fiscal 2013, the year ended 27 July 2013, up 5.5% on the year before. Net income was $10.0 billion, up 24.2%, and diluted earnings per share $1.86. The figures are the company's own, from the 10-K it filed with the SEC on 10 September 2013.
Revenue
$48.6 billion
+5.5% on the year
FY2008FY2013
Operating margin
23.0%
21.9% a year earlier
FY2008FY2013
Net income
$10.0 billion
+24.2% on the year
FY2008FY2013
Diluted EPS
$1.86
+24.8% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
48,607
46,061
43,218
+5.5%
Cost of revenue
19,167
17,852
16,682
+7.4%
Gross profit
29,440
28,209
26,536
+4.4%
Gross margin
60.6%
61.2%
61.4%
Research and development
5,942
5,488
5,823
+8.3%
Operating income
11,196
10,065
7,674
+11.2%
Operating margin
23.0%
21.9%
17.8%
Interest expense
583
596
628
-2.2%
Pre-tax income
11,227
10,159
7,825
+10.5%
Income tax
1,244
2,118
1,335
-41.3%
Effective tax rate
11.1%
20.8%
17.1%
Net income
9,983
8,041
6,490
+24.2%
Net margin
20.5%
17.5%
15.0%
Diluted EPS
$1.86
$1.49
$1.17
+24.8%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
12,894
11,491
10,079
+12.2%
Capital expenditure
1,160
1,126
1,174
+3.0%
Free cash flow
11,734
10,365
8,905
+13.2%
Free cash flow margin
24.1%
22.5%
20.6%
Cash from investing
-11,768
-3,815
-2,934
Cash from financing
-3,000
-5,539
-4,064
Depreciation and amortisation
1,200
1,100
n/a
+9.1%
Share-based compensation
1,120
1,401
1,620
-20.1%
Buybacks
2,773
4,560
6,713
-39.2%
Dividends paid
3,310
1,501
658
+120.5%
Dividend per share
$0.62
$0.28
$0.12
+121.4%
Diluted shares, weighted
5,380m
5,404m
5,563m
-0.4%
Shares outstanding at period end
5,389m
5,298m
5,435m
+1.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
59,120
51,286
47,226
+15.3%
Non-controlling interest
8.0
15.0
33.0
-46.7%
Short-term borrowings
n/a
31.0
n/a
Debt
16,201
16,300
16,822
-0.6%
Other liabilities
25,862
24,127
23,014
+7.2%
Total liabilities and equity
101,191
91,759
87,095
+10.3%
Fixed assets
3,322
3,402
3,916
-2.4%
Goodwill
21,919
16,998
16,818
+29.0%
Intangible assets
3,403
1,959
2,541
+73.7%
Investments
42,685
38,917
36,923
+9.7%
Loans
7,948
n/a
n/a
Cash and equivalents
7,925
9,799
7,662
-19.1%
Receivables
5,470
4,369
4,698
+25.2%
Inventory
1,476
1,663
1,486
-11.2%
Other assets
7,043
14,652
13,051
-51.9%
Total assets
101,191
91,759
87,095
+10.3%
10-K for the year ended 27 July 2013, filed 10 September 2013: the filing.