Cisco Systems (CSCO) FY2017 results: revenue $48.0 billion, down 2.5% on the year
Cisco Systems, Inc. (CSCO) reported revenue of $48.0 billion for fiscal 2017, the year ended 29 July 2017, down 2.5% on the year before. Net income was $9.6 billion, down 10.5%, and diluted earnings per share $1.90. The figures are the company's own, from the 10-K it filed with the SEC on 6 September 2018.
Revenue
$48.0 billion
-2.5% on the year
FY2010FY2017
Operating margin
24.9%
25.7% a year earlier
FY2010FY2017
Net income
$9.6 billion
-10.5% on the year
FY2010FY2017
Diluted EPS
$1.90
-10.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
48,005
49,247
49,161
-2.5%
Cost of revenue
17,781
18,287
19,480
-2.8%
Gross profit
30,224
30,960
29,681
-2.4%
Gross margin
63.0%
62.9%
60.4%
Research and development
6,059
6,296
6,207
-3.8%
Operating income
11,973
12,660
10,770
-5.4%
Operating margin
24.9%
25.7%
21.9%
Interest expense
861
676
566
+27.4%
Pre-tax income
12,287
12,920
11,201
-4.9%
Income tax
2,678
2,181
2,220
+22.8%
Effective tax rate
21.8%
16.9%
19.8%
Net income
9,609
10,739
8,981
-10.5%
Net margin
20.0%
21.8%
18.3%
Diluted EPS
$1.90
$2.11
$1.75
-10.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
13,876
13,570
12,552
+2.3%
Capital expenditure
964
1,146
1,227
-15.9%
Free cash flow
12,912
12,424
11,325
+3.9%
Free cash flow margin
26.9%
25.2%
23.0%
Cash from investing
-6,036
-8,117
n/a
Cash from financing
-3,806
-4,699
n/a
Depreciation and amortisation
1,100
1,000
1,100
+10.0%
Share-based compensation
1,526
1,458
1,440
+4.7%
Buybacks
3,685
3,909
4,324
-5.7%
Dividends paid
5,511
4,750
4,086
+16.0%
Dividend per share
$1.10
$0.94
$0.80
+17.0%
Diluted shares, weighted
5,049m
5,088m
5,146m
-0.8%
Shares outstanding at period end
4,983m
5,029m
5,085m
-0.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
66,137
63,586
59,698
+4.0%
Non-controlling interest
0.0
-1.0
9.0
Debt
33,717
28,642
25,351
+17.7%
Other liabilities
29,964
29,425
28,423
+1.8%
Total liabilities and equity
129,818
121,652
113,481
+6.7%
Fixed assets
3,322
3,506
3,332
-5.2%
Goodwill
29,766
26,625
24,469
+11.8%
Intangible assets
2,539
2,501
2,376
+1.5%
Investments
58,784
58,125
53,539
+1.1%
Cash and equivalents
11,708
7,631
6,877
+53.4%
Receivables
5,146
5,847
5,344
-12.0%
Inventory
1,616
1,217
1,627
+32.8%
Other assets
16,937
16,200
15,917
+4.5%
Total assets
129,818
121,652
113,481
+6.7%
10-K for the year ended 29 July 2017, filed 6 September 2018: the filing.