Cisco Systems (CSCO) FY2019 results: revenue $51.9 billion, up 5.2% on the year
Cisco Systems, Inc. (CSCO) reported revenue of $51.9 billion for fiscal 2019, the year ended 27 July 2019, up 5.2% on the year before. Net income was $11.6 billion, up 10464.5%, and diluted earnings per share $2.61. The figures are the company's own, from the 10-K it filed with the SEC on 5 September 2019.
Revenue
$51.9 billion
+5.2% on the year
FY2012FY2019
Operating margin
27.4%
25.0% a year earlier
FY2012FY2019
Net income
$11.6 billion
+10,464.5% on the year
FY2012FY2019
Diluted EPS
$2.61
+12,950.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
51,904
49,330
48,005
+5.2%
Cost of revenue
19,238
18,724
17,781
+2.7%
Gross profit
32,666
30,606
30,224
+6.7%
Gross margin
62.9%
62.0%
63.0%
Research and development
6,577
6,332
6,059
+3.9%
Operating income
14,219
12,309
11,973
+15.5%
Operating margin
27.4%
25.0%
24.9%
Interest expense
859
943
861
-8.9%
Pre-tax income
14,571
13,039
12,287
+11.7%
Income tax
2,950
12,929
2,678
-77.2%
Effective tax rate
20.2%
99.2%
21.8%
Net income
11,621
110
9,609
+10,464.5%
Net margin
22.4%
0.2%
20.0%
Diluted EPS
$2.61
$0.02
$1.90
+12,950.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
15,831
13,666
13,876
+15.8%
Capital expenditure
909
834
964
+9.0%
Free cash flow
14,922
12,832
12,912
+16.3%
Free cash flow margin
28.7%
26.0%
26.9%
Cash from investing
14,837
15,324
-6,036
-3.2%
Cash from financing
-27,889
-31,764
-3,806
Depreciation and amortisation
1,000
1,100
1,100
-9.1%
Share-based compensation
1,570
1,576
1,526
-0.4%
Buybacks
20,717
17,547
3,685
+18.1%
Dividends paid
5,979
5,968
5,511
+0.2%
Dividend per share
$1.36
$1.24
$1.10
+9.7%
Diluted shares, weighted
4,453m
4,881m
5,049m
-8.8%
Shares outstanding at period end
4,250m
4,614m
4,983m
-7.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
33,571
43,204
66,137
-22.3%
Non-controlling interest
0.0
0.0
0.0
Debt
24,666
25,569
33,717
-3.5%
Other liabilities
39,556
40,011
29,964
-1.1%
Total liabilities and equity
97,793
108,784
129,818
-10.1%
Fixed assets
2,789
3,006
3,322
-7.2%
Goodwill
33,529
31,706
29,766
+5.7%
Intangible assets
2,201
2,552
2,539
-13.8%
Investments
21,663
37,614
58,784
-42.4%
Loans
10,053
9,831
n/a
+2.3%
Trading assets
n/a
37,614
n/a
Cash and equivalents
11,750
8,934
11,708
+31.5%
Receivables
5,491
5,554
5,146
-1.1%
Inventory
1,383
1,846
1,616
-25.1%
Other assets
8,934
n/a
16,937
Total assets
97,793
108,784
129,818
-10.1%
10-K for the year ended 27 July 2019, filed 5 September 2019: the filing.