Cisco Systems (CSCO) FY2018 results: revenue $49.3 billion, up 2.8% on the year
Cisco Systems, Inc. (CSCO) reported revenue of $49.3 billion for fiscal 2018, the year ended 28 July 2018, up 2.8% on the year before. Net income was $110 million, down 98.9%, and diluted earnings per share $0.02. The figures are the company's own, from the 10-K it filed with the SEC on 6 September 2018.
Revenue
$49.3 billion
+2.8% on the year
FY2011FY2018
Operating margin
25.0%
24.9% a year earlier
FY2011FY2018
Net income
$110 million
-98.9% on the year
FY2011FY2018
Diluted EPS
$0.02
-98.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
49,330
48,005
49,247
+2.8%
Cost of revenue
18,724
17,781
18,287
+5.3%
Gross profit
30,606
30,224
30,960
+1.3%
Gross margin
62.0%
63.0%
62.9%
Research and development
6,332
6,059
6,296
+4.5%
Operating income
12,309
11,973
12,660
+2.8%
Operating margin
25.0%
24.9%
25.7%
Interest expense
943
861
676
+9.5%
Pre-tax income
13,039
12,287
12,920
+6.1%
Income tax
12,929
2,678
2,181
+382.8%
Effective tax rate
99.2%
21.8%
16.9%
Net income
110
9,609
10,739
-98.9%
Net margin
0.2%
20.0%
21.8%
Diluted EPS
$0.02
$1.90
$2.11
-98.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
13,666
13,876
13,570
-1.5%
Capital expenditure
834
964
1,146
-13.5%
Free cash flow
12,832
12,912
12,424
-0.6%
Free cash flow margin
26.0%
26.9%
25.2%
Cash from investing
15,324
-6,036
-8,117
Cash from financing
-31,764
-3,806
-4,699
Depreciation and amortisation
1,100
1,100
1,000
0.0%
Share-based compensation
1,576
1,526
1,458
+3.3%
Buybacks
17,547
3,685
3,909
+376.2%
Dividends paid
5,968
5,511
4,750
+8.3%
Dividend per share
$1.24
$1.10
$0.94
+12.7%
Diluted shares, weighted
4,881m
5,049m
5,088m
-3.3%
Shares outstanding at period end
4,614m
4,983m
5,029m
-7.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
43,204
66,137
63,586
-34.7%
Non-controlling interest
0.0
0.0
-1.0
Debt
25,569
33,717
28,642
-24.2%
Other liabilities
40,011
29,964
29,425
+33.5%
Total liabilities and equity
108,784
129,818
121,652
-16.2%
Fixed assets
3,006
3,322
3,506
-9.5%
Goodwill
31,706
29,766
26,625
+6.5%
Intangible assets
2,552
2,539
2,501
+0.5%
Investments
37,614
58,784
58,125
-36.0%
Loans
9,831
n/a
n/a
Trading assets
37,614
n/a
n/a
Cash and equivalents
8,934
11,708
7,631
-23.7%
Receivables
5,554
5,146
5,847
+7.9%
Inventory
1,846
1,616
1,217
+14.2%
Other assets
n/a
16,937
16,200
Total assets
108,784
129,818
121,652
-16.2%
10-K for the year ended 28 July 2018, filed 6 September 2018: the filing.