Cisco Systems (CSCO) FY2015 results: revenue $49.2 billion, up 4.3% on the year
Cisco Systems, Inc. (CSCO) reported revenue of $49.2 billion for fiscal 2015, the year ended 25 July 2015, up 4.3% on the year before. Net income was $9.0 billion, up 14.4%, and diluted earnings per share $1.75. The figures are the company's own, from the 10-K it filed with the SEC on 8 September 2015.
Revenue
$49.2 billion
+4.3% on the year
FY2008FY2015
Operating margin
21.9%
19.8% a year earlier
FY2008FY2015
Net income
$9.0 billion
+14.4% on the year
FY2008FY2015
Diluted EPS
$1.75
+17.4% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
49,161
47,142
48,607
+4.3%
Cost of revenue
19,480
19,373
19,167
+0.6%
Gross profit
29,681
27,769
29,440
+6.9%
Gross margin
60.4%
58.9%
60.6%
Research and development
6,207
6,294
5,942
-1.4%
Operating income
10,770
9,345
11,196
+15.2%
Operating margin
21.9%
19.8%
23.0%
Interest expense
566
564
583
+0.4%
Pre-tax income
11,201
9,715
11,227
+15.3%
Income tax
2,220
1,862
1,244
+19.2%
Effective tax rate
19.8%
19.2%
11.1%
Net income
8,981
7,853
9,983
+14.4%
Net margin
18.3%
16.7%
20.5%
Diluted EPS
$1.75
$1.49
$1.86
+17.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
12,552
12,332
12,894
+1.8%
Capital expenditure
1,227
1,275
1,160
-3.8%
Free cash flow
11,325
11,057
11,734
+2.4%
Free cash flow margin
23.0%
23.5%
24.1%
Cash from investing
n/a
n/a
-11,768
Cash from financing
n/a
n/a
-3,000
Depreciation and amortisation
1,100
1,200
1,200
-8.3%
Share-based compensation
1,440
1,348
1,120
+6.8%
Buybacks
4,324
9,413
2,773
-54.1%
Dividends paid
4,086
3,758
3,310
+8.7%
Dividend per share
$0.80
$0.72
$0.62
+11.1%
Diluted shares, weighted
5,146m
5,281m
5,380m
-2.6%
Shares outstanding at period end
5,085m
5,107m
5,389m
-0.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
59,698
56,654
59,120
+5.4%
Non-controlling interest
9.0
7.0
8.0
+28.6%
Debt
25,351
20,837
16,201
+21.7%
Other liabilities
28,423
27,636
25,862
+2.8%
Total liabilities and equity
113,481
105,134
101,191
+7.9%
Fixed assets
3,332
3,252
3,322
+2.5%
Goodwill
24,469
24,239
21,919
+0.9%
Intangible assets
2,376
3,280
3,403
-27.6%
Investments
53,539
45,348
42,685
+18.1%
Loans
n/a
n/a
7,948
Cash and equivalents
6,877
6,726
7,925
+2.2%
Receivables
5,344
5,157
5,470
+3.6%
Inventory
1,627
1,591
1,476
+2.3%
Other assets
15,917
15,541
7,043
+2.4%
Total assets
113,481
105,134
101,191
+7.9%
10-K for the year ended 25 July 2015, filed 8 September 2015: the filing.