Cisco Systems (CSCO) FY2025 results: revenue $56.7 billion, up 5.3% on the year
Cisco Systems, Inc. (CSCO) reported revenue of $56.7 billion for fiscal 2025, the year ended 26 July 2025, up 5.3% on the year before. Net income was $10.2 billion, down 1.4%, and diluted earnings per share $2.55. The figures are the company's own, from the 10-K it filed with the SEC on 3 September 2025.
Revenue
$56.7 billion
+5.3% on the year
FY2018FY2025
Operating margin
20.8%
22.6% a year earlier
FY2018FY2025
Net income
$10.2 billion
-1.4% on the year
FY2018FY2025
Diluted EPS
$2.55
+0.4% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
14,193
10,880
19,886
+30.5%
Capital expenditure
905
670
849
+35.1%
Free cash flow
13,288
10,210
19,037
+30.1%
Free cash flow margin
23.5%
19.0%
33.4%
Cash from investing
1,733
-20,478
-5,107
Cash from financing
-15,815
6,844
-11,626
Depreciation and amortisation
700
700
700
0.0%
Share-based compensation
3,641
3,074
2,353
+18.4%
Buybacks
6,000
5,787
4,293
+3.7%
Dividends paid
6,437
6,384
6,302
+0.8%
Dividend per share
$1.62
$1.58
$1.54
+2.5%
Diluted shares, weighted
3,998m
4,062m
4,105m
-1.6%
Shares outstanding at period end
3,960m
4,007m
4,066m
-1.2%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
46,843
45,457
44,353
+3.0%
Debt
28,093
30,962
8,391
-9.3%
Operating lease liabilities
1,175
906
707
+29.7%
Other liabilities
46,180
47,088
48,401
-1.9%
Total liabilities and equity
122,291
124,413
101,852
-1.7%
Fixed assets
2,113
2,090
2,085
+1.1%
Goodwill
59,136
58,660
38,535
+0.8%
Intangible assets
9,175
11,219
1,818
-18.2%
Investments
7,764
10,346
16,023
-25.0%
Cash and equivalents
8,346
7,508
10,123
+11.2%
Receivables
6,701
6,685
5,854
+0.2%
Inventory
3,164
3,373
3,644
-6.2%
Other assets
25,892
24,532
23,770
+5.5%
Total assets
122,291
124,413
101,852
-1.7%
10-K for the year ended 26 July 2025, filed 3 September 2025: the filing.